M1 Finance vs. SoFi Invest:

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▽MY FINANCIAL TOOLS▽

🏦 SoFi Complete Money Management
➤ Checking & Savings - [ Ссылка ]
➤ Credit Card - [ Ссылка ]
➤ Invest - [ Ссылка ]
➤ Budgeting - [ Ссылка ]

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💰 Chime Fully Online Banking
➤ Sign-Up for Chime HERE: [ Ссылка ]
➤ Chime Credit Builder HERE: [ Ссылка ]

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💳 Favorite Credit Cards
➤ Chase Sapphire - [ Ссылка ]
➤ Capital One Venture X - [ Ссылка ]
➤ Chase Ink Business - [ Ссылка ]
➤ Amex Green - [ Ссылка ]
➤ Amex Platinum - [ Ссылка ]
➤ Amex Business Gold - [ Ссылка ]

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📊 Wealthfront Automated Investing
➤ First $5,000 Managed for FREE - [ Ссылка ]

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💵 Current Card
➤ Current | Modern Banking App - [ Ссылка ]

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📸 MY CAMERA GEAR
➤ My Camera: [ Ссылка ]
➤ My Microphone: [ Ссылка ]
➤ My Lights: [ Ссылка ]

Regardless of what brokerage you decide to go to whether that be one of the two that we're talking about today or something completely different, I would definitely say that a zero Commission model is a must just because almost everyone is at that point nowadays. So with that in mind, SoFi and M1 finance are obviously going to have that zero Commission model meaning you can buy or sell the various assets that we'll talk about later for absolutely free. Now I do want to mention that M1 finance has a minimum account balance of $100 on their regular account and $500 on their retirement accounts while SoFi invest has no account minimum.

Now as far as which mobile platform is better, honestly, it's a draw in my opinion because both companies have clearly spent a lot of time and money developing some of the best mobile trading platforms out there and while I do personally have more experience with SoFi invest, I do think that the design of both of them is fantastic and very easy to learn. With SoFi, you're going to have access to your standard stocks, as well as the number of ETFs, cryptocurrencies, and SoFi’s very own catered ETF's which ties in nicely to their automated investing feature. Similarly, M1 finance has a feature called automatic rebalancing where they will automatically reallocate your total funds in order to maintain the breakdown that you initially set.

Neither of these platforms is going to give you any super in-depth technical analysis with detailed Candlestick charts or access to trading tools like level 2 or RSI indicators but chances are if you're looking at a mobile platform like this, then you probably have no idea what those things are and honestly don't care so the fact that they don't offer these higher-level tools is honestly fine in my opinion because it would probably just make the platforms cluttered and overly confusing which is not their intended purpose. If you are looking for a more complex platform then WeBull does have a lot more analytical tools but ultimately you probably want to be using a desktop platform like Charles Schwab or TD Ameritrade in that case.

Now while everything we've talked about so far is completely free with both companies, I do want to mention that M1 finance does have an option called M1 plus that gives you a few benefits across all of your financial tools. For example, with M1 plus you're going to earn 1% APY on your checking account through M1 spend which we'll talk about later, 1% cashback with your debit card purchases, as well as a lower 2% borrowing rate with M1 borrow. Now, unfortunately, M1 plus is $125 per year which is a little pricey in my opinion for what you're getting but if you do really love the platform and you have a lot of money with them, then those extra percentage points that you get as a benefit will probably pay for themselves depending on how much money you have in your M1 account.

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