Webull vs M1 Finance

2022: M1 Finance versus Webull for online investing. Compare cost, brokerage fees, IRA accounts, and differences. Which firm is better?

Overview of M1 Finance vs Webull

Which broker-dealer can give you the investment tools you need, Webull or M1 Finance? Webull has advanced software, while M1 Finance provides banking tools and pre-built stock and ETF portfolios.

For a more exhaustive analysis, keep reading.


Broker Fees Stock/ETF
Mutual Fund
Annual IRA
M1 Finance $0 na na $0 $0
WeBull $0 na $0 per contract $0 $0


M1 Finance: Up to $500 cash bonus for funding account at M1 Finance.

Webull: 6 FREE stocks valued $34-$12,600 give-away at Webull.


Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
M1 Finance

M1 Finance Pros and Cons

With a securities account at M1 Finance, you’ll be able to score some really significant benefits at very low cost. These are some of the more notable services:

- Ability to borrow cash using investments as collateral
- Checking account with interest and cash back
- Retirement funds

But M1 has many downsides. A few examples include:

- A monthly fee is required to get the company’s best services
- Complicated method of investing
- Research tools are very undeveloped

Webull Pros and Cons

With a brokerage account at Webull, you’ll capture these strengths:

- Browser and desktop platforms
- Simulated trading
- Cryptocurrencies
- In-depth security profiles

But like all brokers, Webull does have some weaknesses:

- Security search engine is very limited
- No investment advice
- Educational section is embryonic

Category #1: Style of Investing

M1 Finance has a unique method of investing. It creates baskets of securities (either stocks or ETFs) with various themes like Retirement 2025 and Hedge Funds. M1 customers can browse through these baskets (which are called Pies) and pick one.

There’s no minimum to make an investment and there’s no commission, either. M1 clients can build their own Pies if they wish, and it’s possible to put just one security inside of a Pie.

The primary downside of this system is that M1 Finance only offers stocks and ETFs. There are no options, bonds, mutual funds, or other asset classes. The other disadvantage is that M1 customers don’t actually send orders to the exchanges. They send them to M1, who in turns sends them to the exchanges at specific times of the day. The result is that M1 customers have no control over time or price.

Webull doesn’t offer any type of investment management, so the broker’s customers are completely on their own. The advantage of this system of course is that traders send orders to the exchanges, and that gives them control over time and price.

They also get a wider range of securities. Webull’s lineup includes:

- Stocks
- Cryptocurrencies (just 4 for now)
- Options
- ETFs
- Closed-end funds

Winner: Depends on what you’re looking for

Category #2: Website Trading

With our M1 trial account, we found a website without many tools. Charting is almost useless. There are no graphing tools, and line is the only format. Don’t even think about trying to expand a chart to full-screen mode, and 5 years of price history is the most you’ll get.

M1 Finance or Webull

Because M1 customers don’t actually send orders to the exchanges, there is no order ticket. Investors add Pies to their accounts, and the broker takes it from there.

On the positive side, there is a watchlist on the site, and there’s a convenient funds transfer tool that can be used to establish recurring deposits.

Webull’s site has even fewer tools on it. But the firm provides a browser platform that is launched from within the site. With this software, Webull customers get:

Webull Trading Platform

- Full-screen charting with many tools
- User-friendly order ticket with bracket orders
- Second trade ticket that can send multiple orders at once
- Practice mode
- Watchlists and alerts

Winner: Webull

Category #3: Desktop Platforms

Webull traders who don’t find what they’re looking for on the broker’s browser platform can check out the firm’s desktop program. The two platforms are very similar, although the desktop system does have custom layouts, which the browser platform lacks.

For some odd reason, digital currencies can’t be traded on the desktop system, and it has fewer technical indicators. Nevertheless, it does deliver a lot of the same impressive features that are available on the browser system.

M1 Finance has no desktop platform at all, which shouldn’t be all that surprising because the company doesn’t emphasize active trading.

Winner: Webull

Category #4: Mobile Apps

Both brokerage firms in this clash have mobile apps. M1’s unfortunately is as simple as its website. This means there is no decent charting, and the order ticket really isn’t an order ticket at all. It is possible to browse through M1’s Pies or create your own and make an investment.

M1 Mobile App

Webull’s mobile app does much more. Horizontal charting is enabled with several notable tools. Technical studies include Bollinger Bands and exponential moving average. Time & sales data also make an appearance, and we really like the community forum (with trading competitions).

WeBull Investing

Winner: Webull

Category #5: Investment Education

If you’re just starting out on your investment journey, you may need some learning materials to get you to a level of understanding you need to be at to make the right trading decisions. M1 Finance has several articles on its website devoted to financial education. They tend to focus on personal finance rather than strict trading, but they may be of use to beginners. Examples include:

- The definition of wealth
- Taxes on dividends, dividend taxes
- What is a mutual fund?

Webull’s site has a similar selection of articles that cover mostly trading issues. These tend to be very short, sometimes just a sentence long. They nevertheless are a good source of information. Here’s a sampling:

- What is a hard-to-borrow stock?
- How much leverage does Webull offer?
- What are the trading hours for crypto?

Winner: Draw

Category #6: Screeners and Security Analysis

Webull has a stock screener that can scan Canadian, Chinese, and American exchanges, although only American securities can actually be traded. There are about 20 search criteria.

Stock profiles have a treasure trove of information. Here are a few examples:

- SEC statements
- News articles
- Details on order flow
- Press releases

M1 Finance has a very simple stock screener that has just 4 search variables. Stock profiles have almost no information on them.

Winner: Webull

Category #7: Day Trading

Shorting. Not possible at M1, but shorting is possible at Webull. In fact, it has some pretty good tools for shorting.

Level II Quotes. Once again, not available at M1, but they are at Webull (for $2 a month).

Direct-access Routing. Unfortunately, you can’t send orders to specific market makers at either firm.

Routing Fees and Rebates. And these aren’t available at either broker, either.

Winner: Webull

Category #8 Cash Management

If you need a bank account, you could skip your traditional neighborhood branch location and open one with M1 Finance. The financial conglomerate offers a free debit card linked to a checking account with FDIC insurance. The package comes with one free ATM withdrawal per month. If you want 4 per month, you could pay a $125 annual fee. Doing so will get you other perks like:

- A cash back program worth 1%
- An APY on free cash balances
- Multiple card designs

Webull does not currently offer any banking tools (other than a funds transfer tool on its site, which M1 also has).

Winner: M1 Finance

Category #9: Margin Borrowing

M1 Finance offers a low-cost margin service called M1 Borrow. It’s basically a portfolio line of credit. Funds can be withdrawn or used to buy more securities. Account assets serve as collateral, and you can borrow up to 35% of your account’s value. The interest rate on the loan is just 5% (3.5% if you pay the $125 annual fee). Best of all, there’s no credit check and no application to fill out.

Webull also offers margin accounts. The broker charges between 3.99% and 6.99%. What we like most about the firm’s margin service is very clear margin details on every security profile.

Winner: Draw

Category #10: Miscellaneous Services

IRAs: If you want to put some money away for retirement, both brokerage houses offer Individual Retirement Accounts. Only M1 Finance has the SEP account.

IPO Availability: Webull, but not M1, offers access to upcoming equity Initial Public Offerings.

Fractional-share Trading: This is where M1 Finance excels. Investments in Pies are made with whole dollars, which means the underlying securities trade in fractional shares. Webull now offers this service too.

Dividend Reinvestment Program: M1 Finance offers a free DRIP service, although a $25 minimum cash balance is required for it to kick in. Webull offers no dividend reinvesting at all.

Extended Hours: Webull has both pre-market and after-hours trading. M1 Finance offers neither.

Winner: M1 Finance by a nose

At Last, Our Recommendations

Beginners: We have to go with M1 Finance. Its pre-built Pies take a lot of the guesswork out of the investment process.

Stock/ETF Trading: Webull is the easy choice here. Its two computer platforms make trading straightforward, while M1 Finance still doesn’t offer any actual trading to speak of.

Small Accounts: Webull gets our endorsement. M1 Finance has a $100 investment minimum for taxable accounts. Retirement accounts require $500.

Long-Term Investors and Retirement Savers: M1 Finance. It is the only brokerage firm in this survey to offer target-date investment vehicles.


M1 Finance: Up to $500 cash bonus for funding account at M1 Finance.

Webull: 6 FREE stocks valued $34-$12,600 give-away at Webull.

Webull vs M1 Finance - Judgment

Both brokerage houses have their own unique approach to investing and money management. Frequent traders should obviously choose Webull.

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.