M1 Finance Europe

M1 Finance in Europe (2022)


Alternative to M1 Finance in Europe (Germany, Spain, UK, France, Belgium, Poland, Austria, Italy, Switzerland and other EU countries). M1 Finance available countries list.


Is M1 Finance Offered in Europe?


M1 Finance is not available for citizens of European countries (Germany, UK, France, Poland, Spain, Austria, Holland, Italy, Switzerland, and other EU nations).


Open M1 Finance Account


Open M1 Finance Account


Alternatives to M1 Finance in Europe


For European investors, we recommend opening an account with an American brokerage firm called Zackstrade. The company is available in all European countries, has some of the lowest margin rates in the industry, offers a professional trading platform, and access to 91 exchanges around the world. Learn more about the company in the 2022 Zackstrade Review.


Open Zackstrade Account


Open ZacksTrade Account


For a European brokerage firm, we suggest a company called DEGIRO, one of the largest brokers in Europe. Along with low fees, you get access to more than 50 exchanges across 30 countries.


Open DEGIRO Account


Open DEGIRO Account


M1 Finance Available Countries


Right now, M1 Finance is only available in the United States.


Automatic Investing Plan at M1 Finance


If you’re using M1 Finance to invest in Pies, there’s a service the broker offers that will let you put your contributions on autopilot so that you won’t have to manually make investments in the future. This periodic investing plan is free of charge and allows M1 customers to grow their accounts without having to do anything other than set up the service.


Deposits at M1 Finance


Anytime you make a deposit at M1 Finance, the funds are automatically invested in the Pies in your account. Under the broker’s default option, once an account reaches $10 in cash, the funds are sent to a Pie. This can be changed to a second option that will auto-invest funds once a specified threshold is reached. For example, you can specify $400 and once this level is breached by at least $10, $400 will be automatically moved to a Pie. Anything above $400 would stay as cash. So for example, if you deposited $1,000, there would be $600 left as cash.

The third option is to turn off auto investments altogether and do everything manually. If you want to set up periodic investments, you don’t want to choose this third option.


M1 Finance Competitors


Periodic Investment Plan Details


M1 Finance doesn’t charge a dime to enroll an account for periodic investments. And when we say an account, we mean both taxable accounts and IRA’s.

The broker’s software program uses dynamic rebalancing for auto-investments. This means the robo system allocates funds smartly to help achieve and maintain original target allocations. Assets that have recently gone underweight, for example, will receive more funding.


Open M1 Finance Account



Open M1 Finance Account



Signing Up


It’s possible to sign up for the company’s automatic investment plan using either the M1 mobile app or the website. On the app, tap on the menu and select “Funding.” Next, select “Deposit” and then turn on “Set a schedule.” Here, you’ll be able to setup the frequency (weekly, monthly on a date, or monthly on a week). You need to have an external bank account already linked to your M1 account.

The steps for enrolling on the broker’s website are very similar. To get started, click on “Funding” in the top menu.


Why Investors Use Dollar-Cost Averaging


M1 Finance’s automatic investing plan is a form of dollar-cost averaging. This means you deposit a fixed amount at regular intervals (whether the market is up or down) and get fractional shares in return. You lose the opportunity to time the market, but get more shares when the market is down.


Comparison


Because stocks and ETF’s are in M1’s Pies, you’re getting fractional shares of these securities, which isn’t possible at other brokerage firms. Firstrade has an auto investing plan, for example, but only mutual funds are available for purchase. Firstrade also requires a pdf form to be submitted in order to enroll in its robo investment service, while M1 Finance has no such requirement.

TD Ameritrade restricts its periodic investing plan to just mutual funds. M1 Finance, by comparison, does not offer any mutual funds at all.


About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.