M1 Finance vs Robinhood
M1 Finance vs Robinhood
- M1 Finance focuses on long-term investments, with full customisation and automation.
- M1 is one of the few brokerage companies who offer completely free IRAs.
- Robinhood doesn’t currently provide its users with access to their wallets or wallet addresses nor does it support transfers of digital assets or wallets into Robinhood Crypto accounts.
- Looking for a fully functional crypto alternative? CoinMetro is the answer.
Robinhood competitors are thriving as the famous micro-investing app is facing tough times. Our popular blog post Robinhood Competitors will tell you what happened and why – in juicy detail.
Robinhood users are now looking for better alternatives. Meanwhile, trading and investing enthusiasts have a great chance to learn more about the platforms and apps trending in 2021.
What are you waiting for?
What is M1 Finance About?
The founder and CEO of M1 Finance started his investing journey at a tender age of 10. He grew up investing, but soon after graduating college realised he hated doing it with the tools that were available.
“The financial services industry has lacked any meaningful innovation for far too long, and I decided it was time for change,” he says.
M1 Finance focuses on long-term investments, with full customisation and automation. In total, it offers 6,000+ exchange-listed securities, e.g., most NYSE, NASDAQ, and BATs traded stocks and ETFs.
M1 allows you to invest, borrow, and spend all in one place. You are the one to build and manage your portfolio with the tools available.
What about the fees? M1 Finance fees are close to zero, which is a massive advantage of innovative micro-investing apps.
M1 Finance vs Robinhood: Overview of the Main Features
Here, the question is not about which one is better. As can be seen from the summary table below, the two apps focus around different features.
M1’s best suited for traditional long-term investment, while Robinhood is a much more popular destination for crypto trading.
However, Robinhood doesn’t currently provide their users with access to their wallets or wallet addresses, which means you can’t transfer the cryptocurrency you own elsewhere. The app also doesn’t support transfers of digital assets or wallets into Robinhood Crypto accounts. As stated on the official website, it is to prevent the proceeds from illegal activity from being used for transactions on Robinhood Crypto.
|Domestic stock funds||Yes||Yes|
|International stock funds||No||Yes|
* It is worth mentioning that M1 Finance is one of the few brokerage companies who offer completely free IRAs.
I Want a Fully Functional Crypto App
If crypto and short/long-term investments are the perfect combination for you, CoinMetro is what you’re looking for – and beyond.
CoinMetro is the best choice for beginners and pros alike – there’s something for everyone. Hey, if you’re just starting out and haven’t bought a single coin just yet, try our demo version to buy or sell crypto – no deposit required. As a registered user, you’ll have access to an ever-growing list of altcoins and the best customer service available for you 24/7.
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M1 Finance vs Robinhood? Doesn’t compare to CoinMetro. Sign up today to be part of the future of finance.