A Warning About M1 Finance – Why M1 Finance is Not For Everyone
Ver Vídeo: A Warning About M1 Finance – Why M1 Finance is Not For Everyone
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https://m1.finance/IaBjW5mRtfDu
I have been using M1 Finance for a few months now, and I have loved it. It has been great for me. However, M1 finance is not for everyone. In fact, it is geared towards specific types of investors.
In this video, I want to go over who should and who shouldn’t use M1 Finance.
Let’s start with who shouldn’t use M1 Finance.
1. If you try to get perfect entries and exits, then it’s not going to be great for you. When you place a buy order or sale order on M1 finance, you don’t really have any control over when exactly the order is placed.
M1 Finance has two trading windows. You can place an order for 30 minutes after the market opens or 1 hour before the market closes. And the orders never go through exactly on time. In my experience, if I place a buy order for 8:00 am my time, it will usually go through 30-60 minutes later. So if you like to have control over exactly when your orders go through, it’s not for you.
2. M1 Finance is not for day traders. It’s pretty much impossible to day trade on M1 Finance. Any type of short term trading is going to be very difficult on M1 Finance cause again, you have little control over when your orders go through.
3. M1 Finance does not currently offer trading in options, forex, futures, or cryptocurrencies. So if you’re looking for a broker with those capabilities, it’s not M1 Finance
4. This one is just my opinion, but M1 finance is not for the impatient or indecisive investor. If you are constantly switching up your pie and making changes, it may be hard to get the results you want.
Who Should use M1 Finance?
1. I think M1 Finance is great for people that want to automate investing. With M1 Finance, you can choose your investments and deposit money, and it does all the rest of the work for you. They even have an auto-invest feature so you can invest set amounts on certain intervals.
2. I also think M1 finance is great for dividend investors. Dividend investors tend to be focused on the long term and stay invested in companies that pay their investors.
Overall, M1 Finance is designed for long-term investors that are patient and aren’t troubled by short term swings in the market.
Since I have started using M1 finance, I save so much time because I don’t check on short term market movement as much and I don’t have to try to diversify my portfolio myself. So I have been saving time and I find that I am less anxious about short term movement in the market.
So if you are a long-term investor that wants to make investing more automated, then I think M1 Finance is the best option. If you are not that type of investor, then it probably isn’t the best for you.
💵💸💰Signup With M1 Finance and Get Cash!
https://m1.finance/IaBjW5mRtfDu
📈My M1 Finance Portfolio:
https://m1.finance/805wUzV9wPBs
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*DISCLAIMER!!
I am NOT a financial adviser and am not responsible for any advice taken from this video. If you do use the advice taken from this video, use it at your own risk. I am NOT responsible for any losses related to this video. ALL of my videos are for entertainment purposes only.
*Do your own due diligence
Me chamo Felipe Trader e moro aqui em São Paulo. Comecei no forex a 6 anos atrás e hoje vivo somente do meu trading diário. Aqui no blog conto pra você as ferramentas e serviços que uso pra ser lucrativo.
is m1finance free
So similar to my 401k 😊
I deposited 100 into but I can’t use it??
Can LLCs set up business accounts with M1 Finance?
Great review! Jaidan, what brokerage do you recommend for crypto trading? Best wishes
All the pros you shared I find true. The con you left out is there is nobody to call if there is an issue, all inquiries have to be handled by email. This makes it challenging to resolve any issue
Do they charge if you decide you hate it & you pull all your money and transfer it back to your bank account?
Here is my review:
PROS
1. M1 is a simple platform that makes it affordable to invest in stocks with the fractional shares feature. Otherwise investing in stocks is too expensive for many people including myself.
2. M1 stands out from other options with a low initial investment of $100, fractional shares, and auto rebalance of the portfolio (pie). You deposit a quantity of money and the rest is done automatically. That deposit is distributed accordingly into the pie or portfolio shares.
CONS
1. M1 lacks customer support, its none existent. Good and fast customer service is key to everyone investing their hard earned money.
2. M1 lacks information. You have to look elsewhere to find good info. I have to use Yahoo Finance, Morningstar, Schwab, Fidelity, ETF.com and other sites to use M1 as an investing platform.
3. Expert pies specifically the ones called Plan for Retirement and General Investing, their return and performance is subpar compared to Schwab or Fidelity robo-advisor portfolios.
4. Hedge Fund Followers pies aren't bad but can be more diversified to include more hedge funds.
5. In general Expert Pies lack diversity in each theme.
6. For novice investors (like myself) to invest with M1 you have to have a good set of balls. What I mean is you have to be very sure of what you are investing in to be certain its the right choice because there is no guidance or support from anyone. Compared to other investing platforms M1 is really lagging in this area.
7. There is no market information, just the basic 3 major indexes to follow and some headlines.
8. These headlines when you click with your mouse over them, many of them request for you to have a subscription to that News outlet to read the complete article. Seeking alpha is one of them.
9. $125/year subscription to use Spend and M1Plus is a lot of money for just a few trivial perks. I am currently using Spend and M1 plus with a free subscription, other wise I would not bother to invest $125/year.
10. Trading times are only once per day, or twice depending if you have M1 Plus. I am sure this is to keep costs down. I could care less at what time M1 trades.
11. Haven't use M1 Borrow because you have to be invested with $10,000 or more to use it. Investing $10,000 or more with M1 can be risky specially in a platform where there is no investing guidance or customer support.
12. One of the worst parts of M1: when transferring money from Invest to Spend or vice versa (they call that Smart Transfers), it takes forever, like 4 days to move your money from one account to another. I would call that Slow Transfers.
13. And the cherry on top:
Requesting an account liquidation and moving that money to your external bank account could take like a week or maybe more. Why is that?
14. There are no articles about investing guidance. and no investment blog to follow.
15. The few info available for many stocks and ETFs its not correct. Specifically P/E and yield. That's worrisome because it misguides clients to believe what its not true and to make the wrong investment decisions. The SEC should look into this item specifically.
When you compare so few trivial advantages versus so many critical disadvantages you start thinking do I want to continue investing with M1? Myself? I will terminate my account in the following days.
ok, so it's perfect for the lazy investor like me. That drops a set amount each week into an index fund.
Yooo we went to Woods Cross together. Weird way to bump into each other hahah.
Is M1 finance only available for USA citizens?
#JaidanCraig i'm with you man, i'm with M1Finance and there great, I only wish that had a limit only
button, I made more money that way. Peace Ghost Black
Just found your channel and subscribed!
I want to buy NIO shares about 900 shares and want to leave them there for at least 5 years invested, is m1finance secure to cover all that money. I’m currently using Robinhood but feel unsafe in there to spend that much money in a stock.
I love m1 but it fits my investing perfectly.
I’m so excited with this app I’m already loving it!!! I don’t know much but wanted to start and learn on the way… I just feel timing is right for me… I just would like to know more on which companies I should buy stocks and yes dividends dividends dividends will be my goal. So if it’s ok and you can share some of those dividend companies you are using I’d appreciate the heads up! Great video! You got a new subscriber 👍😁
This company sucks. They don't offer limit orders, you just have to hope you get a good price for your stock order. Six times in 1 day they put me on hold for half an hour promising to get back but then hang-up on me after telling me to go online to get help. Others have posted that they seem to pay the high price of a stock purchase for the day they put in a order. I wonder why they don't offer limit orders, maybe so m1 can make more money buying low and recording a higher purchase price for your records.
how about interactive brooker do they have the time window?
Thanks for this. How easy is it to fund your account and to withdraw funds
Can Canadians who live in Canada open an account with M1 Finance?
New to your channel
The trade window is a annoying and the premium to have option to trade in the afternoon is another downer. I do use it for the pie option. It’s overall good
I just wish that you could set up advanced rules for their auto-invest.
I’m with fidelity and I wish they would create an automatic investment feature like m1 has. I like to dollar cost average into my dividend portfolio and this would be a great feature to have. Thanks for the video!
My biggest question is whether M1 will be around in 10-20 years? And how you gonna contact them if it goes down?
This was very necessary!
Can you explain this for me please sec fees and taf fees on m1 .
Thank you
so if I make a trade after the trading window closes does it execute my trade the next business day when the trading window is open?
I hated M1 finance due to wanting to do some swing trades in my account however I'm planning on opening a custodial brokerage account for my daughter on M1 finance because it will work great for the plans on her account.
I'm up 23 percent in 3 months. Good start I'd say. 😎
I used your referral and didn’t get the credit. Contacted support and they are asking your email address
@IMS / Just discovered your channel. WoW! You did make it simple, clear, to the point. / One quick question, do you know much about CashApps systems for buying stocks, and do you recommend them Yes? No? And why. I’d like to put in a suggestion, for a near-future video from you in the same clear format as this on on M1 Finance. But, on CashApps Stock / Crypto offerings, and their security level. The App is very devoid of any info to clarify what exactly their getting and how it’s being secured. I couldn’t even find a new FAQ menu…?? / I’m subbing to your channel. Think I’ll be Sub # 1,002. – Thank You.
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Great points man! I've been using M1 finance for awhile now. I have a taxable account as well as a Roth ira. I've enjoyed it but I would like to be able to have a little more control in when I invest in certain stocks and how much I invest. Some days you just don't want to invest as much in a certain stock. I might switch over to Robinhood for my taxable account and keep my Roth in M1
can non us citizen apply? what are the fees
What do you mean place orders? Like buy stocks?
What’s the likelihood of M1 finance going bankrupt? I’m interested in transferring my stocks to M1 finance to use M1 borrow but feel like leaving it in TD Ameritrade is safer since they seem less likely to fail. Once you borrow the money, can you transfer the funds back to another company without paying taxes or selling the stocks?