In this M1 Finance review we’ll look at the main features and investment functions of the investing app, so you can decide if it’s right for your investing goals.
What is M1 Finance?
M1 Finance is an app that provides three acute functions – invest, borrow, and spend. But the reason that makes M1 stands out amongst all the other finance-based apps is the fact that it uses state of the art processes to run all the three functions. As a result of this the user is able to gain seamless advantage while investing in stocks, alongside the ability to borrow low interest loans and spend to earn modules. The investment options feature fractional share investments and the help of automation and you can also take loans from the app to invest as well. You gain access to digital banking features alongside other payment options such as the M1 Finance debit card.
M1 Finance Investing
With the help of M1 Finance the concept of investment becomes more plan-oriented than profit-oriented. But this in turn increases the returns margin due to its highly automated systems that can practically find the best resources for you. You get to build an expert portfolio, access a whole new network of fractional share market, and of course invest in the easiest way possible.
M1 Finance Lending
The various loan plans that M1 Finance provides are some of the lowest cost ones in the market. You are almost never denied the loan and your credit score is not taken into account. There is a certain margin till which every user can borrow but the loans are instantly provided. You get to the use the loans for a variety of purposes such as purchases, investments, refinances, etc. So just by signing up you practically gain access to new funds.
M1 Finance Banking
M1 Finance also provides a set of digital banking solutions that can integrate into all your online payments. You can opt for an M1 Finance debit card. This card allows you to constantly earn cashback offers that can be used as part of your investments. So essentially by using the M1 Finance card you will earn while you spend. The card also has an upgradation available, the M1 Plus, which can unlock even further benefits for the user.
M1 Finance is not your average finance tool. It provides in your hands the power to control all your financing operations with a seamlessness that can provide you a major advantage in this current competitive market. Now you can create for yourself an acute financial profile and plan and always be able to have a detailed view of your condition. The account you create with M1 Finance will be tailor made for your needs so that you receive exactly the type of profits that you require.
M1 Finance Pricing and Fees
Regular account: free
M1 Plus account: $50 for the first year, and $125 from next year onwards
How M1 Finance Investing Works
Investment capabilities with M1 Finance are absolutely sure to provide you with the necessary equipment’s that you need to create a robust and top of the line investor portfolio. You get access to 80 variations of expert portfolios and you can also mix them up to create your own custom portfolio. So, right off the bat M1 Finance proves that its process is absolutely client centric.
The additional factor that ensures sure shot returns from the investments you make with M1 Finance is the ability to invest in fractional shares. Instead of purchasing an entire high fee share you can purchase a fraction of it as per your choice and enjoy the benefits that it provides you with. As a result, a whole new market of low cost but high return shares will be made available to you. These shares will ensure that even beginner investors can start earning with the help of M1 Finance without having to spend large amounts.
Another great investment feature that M1 Finance provides is the ability to automate your investments. This powerful tool takes care of all the nitty gritty tasks so that you can invest seamless with the help of a few clicks. What’s more, M1 Finance can provide you with the option to present your investment choices and the app itself will perform the investment task so that you don’t even have to look at your device. Every part of the investment process can be taken care of in the back end if you allow M1 Finance to take control of your operations.
M1 Finance Borrowing
M1 Finance is probably the only finance app out there that does not take into account your credit score while letting you borrow loans. You gain access to 35% of your portfolio’s amount in the form of loans and in turn you get to pay off all your scheduled investments. M1 Finance does not ask you to provide any extra paperwork while providing you this loan. You get to access with a few clicks and no further hassle. And guess what, this app has the lowest loan denial rate. So expect your loans to get processed instantly with M1 Finance.
The loans that you take from M1 Finance can be used beyond the scope of buying shares. You can use it to make a major purchase, make a personal payment, or even pay back your other loans. The fact that M1 Finance loans are extremely low interest ensures the fact that they are one of the best ways to pay off any high interest loans you may have withstanding. M1 Finance is the best source for an emergency fund, and you can truly access your cash when there’s a need at hand.
M1 Finance Payment Options
Digital banking is the need of the hour for any finance related operations and thus M1 Finance features some of the most easy to use payment options. You can directly deposit the amount to anyone’s account or pay any sort of bills as well. But the best option that M1 Finance provides you with is the availability of a debit card. This card can be used at any major retailers end and every time you make a transaction with this card you earn cashback rewards. These rewards can then be used to make investments sand grow your portfolio further.
The Mi Finance debit card also features a M1 Plus upgrade that can be availed with an annual payment of $100. This unlocks various useful features and also higher cashback rewards. M1 Finance can serve as your primary payment method and ensure that you earn every time that you spend. And since its payment options can be integrated with all of your payment needs you will not have to think about using another app or another card.
M1 Finance Pros & Cons
Pros
- Easy to use UI
- Simple investment methods
- Automated investment
- Access to fractional shares
- Instant and hassle-free loans
- No credit score required
- Digital banking facilities
- Debit card facilities
Cons
- No analytical help
- Limited loan amount
Summary
M1 Finance stands for what it promises, end to end finance help. You get to build the best possible investor portfolio and also access fractional shares. These are the two primary investment services that are required to break through as an investor and build up your funds. Additionally, the payment options are also robust and hassle free. And the fact that M1 Finance can serve as an emergency loan provider makes this app one of the best to use in the market.
For any who is seeking to be a professional investor without spending sky high amounts, M1 Finance is the digital partner you have been searching for. With the help of its investment features even the newbie investor can earn high returns from the market. The additional help of instant loans to cover these financial costs also create opportunities that one would otherwise not be able to achieve. All investors should make use of M1 Finance’s robust features and grow their portfolio. Another great way to use the M1 Finance app is to bring together all your finance related operations under one platform so that you achieve complete and acute visibility.
Common M1 Finance Investing Questions
Here are some of the most common questions investors have about M1 Finance and their Robo Advisor.
What is the M1 Finance user qualification?
There are practically no qualifications for using the M1 Finance app. You simply create an account and start investing with the help of its features.
Are M1 Finance options secured?
Yes, all M1 Finance options are secured with the help of FDIC insurance and thus no user needs to worry about their investments and payments turning null and void.
What rewards does the M1 Finance debit card provide?
The M1 Finance debit card provides access to cashback rewards that can be used to make investments through the M1 Finance app. Each transaction with the card earns you rewards. The reward amount can be increased with the M1 Plus upgradation.
Can I pay using the M1 Finance app?
Yes, the M1 Finance app provides digital banking features that can be used to directly pay to accounts or pay off bills as well.
Can M1 Finance automate my investments?
M1 Finance provides automated and schedules investment options based on your investment choices.