| Website |
https://etrade.com |
https://www.m1finance.com |
| Pros |
- Built-in bank-to-bank connections for transferring money rather than through a 3rd party.
- Account offerings for just about everything you could want (401(k), IRA, etc).
- Full-service platform that doesn’t depend on others. Everything is in-house.
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- No advisor fee, trading fee, or monthly fee.
- Concept of “Pies” - preset portfolios you can pick with a single click.
- Automatic investing enables rebalancing your portfolio as you make new contributions.
- Borrow against your portfolio with a low-interest loan.
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| Cons |
- The number of options may be overwhelming to someone getting started investing.
- Usability of the interface is focused on power users.
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- No tax-loss harvesting
- By adding multiple pies you can easily create an overly complicated portfolio of portfolios that duplicates investments.
- Limited trading time - On a free account, all of your transactions will happen in the morning. With an M1 Plus account, you can also trade in the afternoon.
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| Promotions |
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| Fees |
- $0 trade fee for stocks, options and ETFs
- $0.65 trade fee for options contracts
- $1.50 trade fee for future contracts
- See all fees
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- No management fee - M1 Finance changes no advisor fee.
- $125/yr fee for an M1 Plus Account.
- Additional Fees for various other one-off services like wire transfers, paperwork, or account conversions.
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