M1 Finance Minimum Deposit (for all account types)

*This post may contain affiliate links, please see my disclosure

You want to get started with M1 Finance. (We get it! We think it’s a great platform!) But now you need to know does M1 Finance have a minimum?

Possibly! Depending on the type of account you are interested in, you may find a minimum deposit requirement to open that particular M1 Finance account. We take the guesswork out of wondering which account comes with what price tag.

Read on for a breakdown of the different minimum deposit requirements at M1 Finance.

Account TypeMinimum Deposit
M1 Finance Brokerage Account$100
M1 Finance IRA (Roth, Traditional, Simple)$500
M1 Finance Custodial Account$100
M1 Finance Spend Account$0
M1 Finance Margin Account$5,000

M1 Finance Investing Account Minimum ($100)

To get started with an M1 Finance investing account, you need to make sure you hit the minimum requirement. Individual M1 accounts require a minimum initial deposit of $100.

After you make this one-time $100 deposit, you can customize your funding preferences. Some investors may choose to continue with one-time deposits. Other investors may want to set up recurring investors to take a more passive approach to investing.

No matter which strategy you choose, you can make deposits of any amount greater than $10 after you meet the initial M1 Finance minimum.

Other Things To Know About M1 Finance Initial Deposits

Many investors fund their M1 Invest account with a bank account transfer. However, you also have the option to completely transer your account from another institution or rolling over a 401(k).

When you create your M1 Invest account, a feature called Auto-Invest is automatically turned on. If you want your initial deposit to be held as cash instead of investing it right away, make sure to toggle Auto-Invest off before you get started.

M1 Finance IRA Minimum: Roth, Traditional, SEP, Simple ($500)

Unlike a regular investing account, the M1 Finance IRA minimum is actually $500. Once you fund your retirement account with a $500 deposit, you can set future deposits to any amount you’d like, as long as it is more than $10.

Are you looking to do something your future self will thank you for? Consider setting up recurring deposits after meeting the initial minimum. That way, you’re always putting money aside for the future without even having to think about it. It’s a great way to pay your (future) self first!

M1 Finance Custodial Account Minimum ($100)

You can score everything you love about your M1 accounts in their custodial accounts as well. These UTMA/UGMA accounts are designed to benefit minors and are only available through M1 Plus. Custodial accounts require a $100 minimum to open.

Once you create the custodial account, you can deposit as much money as you’d like. You can make these deposits with whatever frequency best suits your needs. Just remember that they are considered irrevocable gifts that minors can access as adults.

M1 Finance Spend Account Minimum ($0)

There’s no minimum deposit to open an account and no balance requirement for an M1 Spend account. They do offer a very competitive interest rate, so it’s not a bad place to park some extra cash.

You also want to note that M1 Finance occasionally offers bonuses for opening and funding M1 Spend accounts. Previously, users were able to land a $100 bonus for depositing $2,500 within the first two weeks of opening a Spend account. Keep an eye on their site for various promotions and the minimum requirement to snag them!

M1 Finance Margin Account Minimum ($5,000)

M1 Borrow allows users to borrow against the value of their portfolio. That means that you can use margin to give yourself a loan. You might use this line of credit for more investments. You can also use it to fund everything from unexpected expenses to home improvements and everything in between.

The rates are competitive, and if you have at least $5,000 in your M1 Finance taxable account, you can access M1 Borrow.

Dive into our honest M1 Finance review to see everything else we love about M1 Finance (and a few things we don’t!).

Other Investing Apps To Consider

M1 Finance offers a lot of features for investors to be excited about. But it’s not the only investing platform we love. In fact, there’s a long list of alternatives we enjoy. (Literally! Here’s the actual list of favorite investing apps for 2022.)

Take a dive into three other investing apps to consider.


Webull is a strong option, especially for investors who are interested in fractional shares. With Webull, you can grow your portfolio holdings with as little as $5. That’s because that is all it takes to get started with fractional shares.

Since you can trade stocks, options, and ETFs commission free, it’s perfect for active investors. Webull also offers a wide variety of account and research amenities, including stock screeners, charting, and news updates.

See our full WeBull review here.


Public is a new investing platform with an innovative take on investor education. The app features a community that shares their portfolios.

If you ever wondered about different investing strategies, let Public take the guesswork out of it. This is a great way to see people put their money where their mouth is to learn more about investing.

Additionally, Public also offers live events, such as town halls, where you can learn from financial gurus and listen in on discussions about popular money topics.

See our full Public review here.


Are you looking for fee-free investing in stocks and crypto? Robinhood might be the app for you! Robinhood stands out from some other online brokerages because it prioritizes the mobile user experience. That means Robinhood is designed to let you take your investment strategy anywhere your phone goes!

There are no minimum account balances and $0 trade fees. Upgrade to their Platinum tier to access margin investing.

See our full Robinhood review here. (Yes, we even dive into the past controversy surrounding the app!).

Jacob Wade

Jacob Wade

Jacob Wade has been a nationally-recognized personal finance expert for the past decade. He has written professionally for The Balance, The Spruce, LendingTree, Investing Answers, and other widely-followed sites. 
He’s also been a featured expert on CBS News, MSN Money, Forbes, Nasdaq, Yahoo! Finance, Go Banking Rates, and AOL Finance.

In 2018, Jacob quit his job and his family decided to sell everything (including their home) to take off on an adventure. They traveled the country in an RV for nearly 3 years, visiting over 38 states, 20+ national parks and eventually settling in the sunshine state!

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