Webull vs. M1 Finance Introduction
Before opening any brokerage account, you first need to understand the investment methods that
are available. Webull and M1 Finance take very different approaches to this subject.
Pricing
| Broker Fees |
Stock/ETF
Commission |
Mutual Fund
Commission |
Options
Commission |
Maintenance
Fee |
Annual IRA
Fee |
|
Webull
|
$0
|
na
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$0 per contract
|
$0
|
$0
|
|
M1 Finance
|
$0
|
na
|
na
|
$0
|
$0
|
Promotions
Webull:
Claim 12 free stocks worth up to $3,600, plus a 3.5% match on IRA deposits with Webull.
M1 Finance:
Currently, no promotions.
Services
| Broker Review |
Cost |
Investment Products |
Trading Tools |
Customer Service |
Research |
Overall Rating |
|
Webull
|
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|
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M1 Finance
|
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Investment Offerings
M1 Finance customers invest through Pies. These are collections of stocks and exchange-traded funds that can be created by M1 or built by the customer. Pies can follow different themes, such as responsible investing, retirement, or global growth. It is easy to browse through them and invest.
M1 Finance clients who want more control can build their own Pies, too. It is easy to add stocks and ETFs and change their target allocations. The brokerage side at M1 is self-directed, although the company also offers separate crypto accounts and cash-management products.
Whether an account is invested in custom-built or broker-constructed Pies, it is still self-directed because the account owner decides what to buy. There are no managed accounts at M1 Finance.
Webull offers both self-directed trading and a robo-advisor. Inside self-directed accounts, customers
can trade the main securities M1 offers in brokerage accounts, namely stocks and ETFs, plus options, futures, bonds, a selection of OTC securities, and mutual funds in eligible IRAs. Webull also offers money market funds and other investment products.
The great advantage of Webull is access to full trading sessions. The regular securities market runs from 9:30 am ET until 4:00 pm. Webull also offers pre-market, after-hours, and 24/5 overnight trading in eligible stocks and ETFs.
M1 Finance clients can only have stock and ETF trades executed during scheduled trading windows instead of throughout the full day. Accounts with less than $25,000 in invested assets can use only one of M1’s two trading windows on a given day, while qualifying accounts with at least $25,000 can use both.
Investing at either brokerage firm can be done in a taxable or tax-deferred manner. Both firms offer joint and custodial accounts. M1 Finance also offers trust accounts.
Winner: Webull
Margin Accounts
Webull’s standard margin rate is 8.74%. Webull Premium subscribers receive lower tiered rates based on the size of the margin debit, with the lowest rate at 3.9%. The broker’s software displays several important margin trading values, such as overnight leverage.
M1 Finance has a different margin setup. Called M1 Borrow, it is available for eligible brokerage accounts. Up to 50% of an eligible portfolio’s value can be borrowed as cash or used to buy
more securities. The cost to borrow is currently a flat 5.65%. M1’s software shows the maintenance requirement of a security.
Winner: Again, it seems debatable
Websites
Although we have seen a lot of differences so far, when we get to software, these two investment firms become even more different. M1 Finance has a basic website that can be used for account management and trading. Because M1 uses trading windows, clients do not send orders directly to the exchanges whenever they want. Instead, they add assets to their Pies or submit manual orders, and M1 sends the orders during the appropriate windows. Because of this system, the order entry on the M1 website is very simple and does not come with advanced trade types.
Charting on the M1 Finance site is likewise very simple. There are no tools of any kind other than volume, and line format is the only display style.
Webull has very advanced charting on its website. Unlike the M1 site, it is possible to display a graph across the full width of the computer screen. There are also several display styles and many technical indicators.
The Webull site has an actual order ticket, and in fact, it has several versions of it. Combined, there are advanced order types like OCO, a separate sell-short button, and multi-leg trading.
Winner: Webull
Mobile Apps
Moving on to mobile trading, we see much the same story. The M1 app is fairly simple but user-friendly. Tabs at the bottom are organized by tasks within the brokerage firm, such as investing, borrowing, spending, or researching. The Invest tab is where Pies are managed, and the Research tab is where security profiles can be found.
Webull’s app has two advanced trade tickets that are the same ones found on the website. One of them is called “Big Button.” As the name suggests, there are large trading buttons on the ticket that help send crypto or securities orders quickly to the exchanges.
The Webull app also has something that will not be found on the M1 app: social networking.
Winner: Webull
Extra Services
IPO Access: Webull has it. M1 Finance does not.
Fractional-share Trading: Available at both broker-dealers.
IRAs: An Individual Retirement Account can be opened at either brokerage house in Roth or Traditional format. Webull also offers a Rollover IRA, while M1 Finance offers a SEP IRA. Only M1 Finance charges a fee to close an IRA (currently, that’s $100).
Cash Management: M1 Finance has a high-yield cash account. Webull offers cash management on eligible uninvested cash balances, with FDIC coverage available through its network of program banks.
Dividend Reinvesting: Available at both brokers.
Winner: Webull
Recommendations
Active Stock Trading: No doubt about it, it is Webull. Paper trading is also available.
Small Accounts: M1 Finance requires $500 as the initial deposit for an IRA. Webull has no minimum for brokerage accounts.
Beginners: One might think that a broker-constructed Pie would be a good bet for new investors. But from our experience, we have found the Pie method of investing to be confusing on the M1 site. We endorse Webull with small amounts in fractional-share trades and plenty of simulated trading.
Mutual Fund Trading: Webull now offers mutual funds in eligible IRA accounts, while M1 Finance does not offer mutual-fund trading. Webull’s mutual-fund lineup is limited compared with Charles Schwab, which has thousands of funds, including many no-transaction-fee choices.
Long-Term Investors & Retirement Savers: M1 Finance has a collection of retirement Pies that might be of assistance to investors trying to build a nest egg.
Promotions
Webull:
Claim 12 free stocks worth up to $3,600, plus a 3.5% match on IRA deposits with Webull.
M1 Finance:
Currently, no promotions.
Webull vs M1 Finance Summary
Yes, these two brokerage firms are very different, both in their philosophies and in their actual
trading tools.
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Updated on 8/21/2026.
Chad Morris has been analyzing investment firms for Brokerage-Review.com since 2015. Backed by FINRA Series 65, 66, and SIE credentials, his work reflects a deep knowledge of the retail brokerage industry and digital trading tools.
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