M1 Crypto Review: A Fresh Take on M1 Finance’s Pie-Based Investing

In this review, we evaluate M1 Finance as an investing platform—how its hybrid of robo-advisor logic and self-directed brokerage tools works, where it shines, and what it means for investors curious about crypto access.

Brief Overview

M1 Finance is a relatively new entrant in the brokerage space, built with younger, tech-forward investors in mind. Its approach blends automated portfolio management with the flexibility to choose individual securities.

From a legitimacy standpoint, M1 Finance’s brokerage is offered through M1 Finance LLC, a Sec-registered broker-dealer and Finra member, with advisory services provided through an affiliated Sec-registered investment adviser. For traditional brokerage holdings, customer protection is generally provided through Sipc coverage (up to $500,000, including up to $250,000 for cash), and cash held at partner banks may be eligible for Fdic insurance. Rather than leaning on awards claims, the more useful trust markers here are regulation, custody/insurance structure, and the firm’s operational track record.

On the account-security side, M1 supports standard controls such as encryption, two-factor authentication, and device-level protections on mobile. This review does not attempt to compile a definitive history of outages, breaches, or complaint volume; if that matters to you, review current disclosures and complaint records before funding an account.

Account types generally available include individual and joint taxable accounts, custodial accounts, trust accounts, and retirement accounts such as traditional and Roth individual retirement accounts (ira), plus sep ira. M1 does not offer crypto-specific accounts because it does not support direct crypto holdings.

Can this model disrupt the market the way Robinhood did? Here’s what to consider.

Services Offered

M1’s hallmark is its “Pie” system—visual portfolios composed of slices, each slice representing a security or a mini-basket aligned to a theme. While not funds in a legal sense, these Pies function as curated model portfolios across multiple categories. Because M1 does not offer direct crypto trading, coins and tokens cannot be included in Pies.

• Retirement (target-date Pies with risk postures).
• Income (bond etf portfolios).
• Socially Conscious Investing (environmental, social, and governance criteria).
• General Investing (diversified models).
• Hedge Fund (hedge fund strategy Pies).
• Domestic and Global (regional value/growth options).

All Pies are structured around Modern Portfolio Theory, seeking a balance of risk and return. M1’s automation rebalances the firm’s prebuilt Pies every quarter.

If the preset choices don’t fit your goals, you can assemble a custom Pie. Eligible holdings today include stocks, etfs, and closed-end funds. Not supported: options, forex, futures, cryptocurrencies, precious metals, warrants, or other asset types. In other words, crypto investing is not available on M1 for direct buying, selling, or custody.

Every trade must flow through a Pie—there’s no transacting outside one. A Pie can hold just a single security if you prefer, and accounts can hold up to 500 individual positions.

When you create a multi-holding Pie, you’re responsible for its rebalancing schedule. The auto-rebalance applies only to M1’s in-house Pies.

A standout feature is dollar-based investing, enabling fractional shares in both Pies and the underlying stocks or etfs.

Cash Management Tools

Beyond investing, M1 promotes its banking features designed to complement a brokerage account.

You can open a separate checking account linked to your investment account. It includes an M1 Visa debit card and Fdic insurance provided through Lincoln Savings Bank. There’s no annual fee, but the standard checking pays no interest. One atm fee reimbursement is included per month.

M1 Plus members can opt for an interest-bearing checking tier (currently 1.5%). This tier offers up to four monthly atm reimbursements and 1% cash back, offset by a $125 annual fee.

Day Trading

Active traders will face a major constraint: M1 batches all client orders once per day at 10:00 a.m. Eastern time. You submit instructions to M1, and the broker sends a single order wave to market.

Only market orders are available—no limit, stop, or other advanced order types—making intraday strategies impractical.

M1 Plus introduces a second trading window at 3:00 p.m. Eastern time. With this, you can enter at 10:00 a.m. and exit at 3:00 p.m. if needed.

Additional intraday windows are not offered.

Buying Power

Margin borrowing is available through M1 Borrow with a minimum account balance of $10,000. The current margin rate is 3.5%, and M1 Plus members receive a 0.25% discount.

Maintenance margin is typically 25%, though some symbols may carry higher requirements. A margin call is triggered if equity drops below 30% of total account value.

In addition to financing securities, eligible clients can draw cash against their portfolios using M1 Borrow.

Short selling isn’t supported. Traders seeking downside exposure can consider inverse etfs as an alternative.

Pricing

Pie trades carry no commissions, and M1 doesn’t charge platform fees for standard brokerage use. There are no fees for deposits or withdrawals. M1 Plus is optional and carries a $125 annual fee; because direct crypto trading isn’t offered, there are no crypto-specific trading fees on the platform.

Software

M1 doesn’t offer a downloadable desktop terminal, nor a full-fledged browser trading platform or floating trade bar. The primary place to build and manage your portfolio is the website.

Website

The site favors simplicity. A top navigation bar includes the Research area where you design and edit Pies.

Start by exploring stocks and funds to populate your Pie. Built-in screeners—accessible via the Stocks and Funds sections—help you locate candidates.

The two screeners share a similar layout but offer a limited set of filters. You can narrow by sector or a fund category, or search directly by ticker if you already know the symbol.

On any asset page, choose Add to Portfolio to place it in your Pie and assign a target weight. Each slice can be set anywhere from 1% to 100% of the Pie’s allocation.

You can build multiple Pies. Visit My Pies and select Create New Pie to start another portfolio.

Prefer a ready-made option? Open Expert Pies to view M1’s curated choices and their underlying holdings. Most target-date models lean on Vanguard funds, with other families represented as well.

The Berkshire Hathaway Pie holds equities aligned with the conglomerate’s portfolio—currently led by Apple, Bank of America, and Coca-Cola.

Whether you select an Expert Pie or craft your own, the site displays performance derived from the underlying assets, complete with a chart showing up to five years of history.

When you’re ready to invest, add the Pie to your portfolio. Remember, short selling isn’t available. Also note the cutoff: submit by 10:00 a.m. Eastern time for same-day execution, or by 3:00 p.m. if you have M1 Plus.

Mobile App

The mobile app closely mirrors the website. Under the Invest tab at the bottom, you can rebalance a custom Pie at any time, add new slices, or adjust target weights. Tap Edit Pie and follow the prompts.

Sharing is simple—use Share Pie to generate a short link for social media.

Individual stock pages provide a concise set of fundamentals and references, including:

• Market Capitalization
• Price-to-Earnings (p/e)
• Dividend Data
• Historical Prices
• Company Overview

To open a chart, tap the graph icon in the upper-right corner of the security’s page, or rotate your device to landscape.

Final Thoughts

M1’s Pie framework is intuitive and powerful, making it straightforward to bundle many individual stocks into a single portfolio and fine-tune each slice’s allocation. Functionally, it lets you assemble a fund-like structure—where you, effectively, serve as the portfolio manager.

Bottom Line

For fractional access to pricey shares—say, putting $30 into a $1,000 stock—M1 Finance is a compelling choice. If your priority is true day trading with intraday order control, it’s best to consider another platform.

If you’re evaluating M1 specifically for crypto, the key limitation is that there’s no direct crypto buying, selling, or custody on the platform, and there are no crypto-asset protections to evaluate within M1. The main “pros” for crypto-minded investors are limited to indirect exposure (if you choose listed stocks or funds tied to the crypto ecosystem) plus M1’s fractional shares and allocation controls; the “cons” are the lack of coin/token support, the absence of crypto-native features like wallets and transfers, and the once- (or twice-) per-day trading windows.

Alternatives for direct crypto investing include dedicated crypto exchanges and crypto-enabled brokers such as Coinbase, Kraken, Gemini, Robinhood, and Interactive Brokers, which typically offer real-time crypto order entry and, in some cases, the ability to move assets to an external wallet—features M1 does not provide.

For beginners, M1 can be a safe-feeling on-ramp to long-term stock-and-fund investing thanks to its Pie-based allocation and automation, but it’s not ideal for someone whose primary goal is learning hands-on crypto trading and custody; the platform’s tools and support are oriented around listed securities rather than coins and tokens.