M1 Finance is a personal finance company that offers a variety of financial services, including investment management, ...
...portfolio analysis, and stock trading. The company is headquartered in Chicago, Illinois, and was founded in 2015.
But does that mean they are safe for you to invest your money?
So, is M1 Finance secure?
Additionally, the company’s website states that it uses “industry-leading security protection” and is FDIC insured. ...
...No investment is completely risk-free, so it’s important to do your own research before investing any money.
Stock Trading: M1 Finance offers stock trading services so you can buy and sell stocks online. They offer a variety of features, including real-time quotes, charts, and analysis.
What Services does M1 Finance Offer?
Additionally, there are no minimum balance requirements.
Is M1 Finance Free?
The Financial Industry Regulatory Authority (FINRA) is a self-regulatory organization that oversees the brokers and firms that conduct business in the securities industry in the United States.
What is FINRA?
FINRA regulates M1 Finance to protect investors from fraudulent or abusive practices. The main functions they regulate include.
It’s important to note that FDIC insurance covers depositors’ accounts up to at least $250,000 per depositor per insured bank, so you would ...
How Does FDIC Coverage work?
...need to make sure that the bank you have your accounts with is FDIC-insured in order to be eligible for FDIC insurance coverage.
First, you must understand M1 Finance is NOT a bank.
Does M1 Finance Carry FDIC Coverage?
This helps to keep your account secure, as someone would need both your login information and your phone in order to access your account.
What Type of Security Protection Does M1 Finance Use?
Bottom Line – Is M1 Finance Legitimate?
You don’t get to over $6 billion in investable assets and 500,000 total customers running a shady operation. At this time M1 Finance has no such disclosure to report which means they have a clean track record.
FAQ’s on M1 Finance
M1 Finance may not be the best option for investors who want to trade frequently.