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M1 Finance VS Webull

Investing is more accessible in the digital modern age than it ever was before. Developers and banking institutions are creating simple apps that allow users to dip their toes in the water or for seasoned investors to pivot onto a digital platform. The many forms of investment options offered on these apps can also greatly diversify your profile.

M1 Finance and Webull are two examples of investment apps that are on the rise without zero fees! But the question is how they compare and if there is a better choice that can help you do more with your money.

Fees and Commissions

A couple of the main aspects to consider when we compare M1 Finance and Webull is to look at the fees and commissions each one charges.

What’s great about both Webull and M1 Finance is users will not be charged any commissions, management fees, or trading fees  – this means more money saved.

M1 Finance does not impose any minimums and makes investing simple for beginners with M1 pies. With the simplicity of the platform, users can understand the ins and outs without the need for financial advisors.

Although Webull does give investors access to cryptocurrency as one of their investment options, it does have a more complicated platform.

The services on both apps are free, but you may still be charged miscellaneous fees such as certain account transfers.

Accounts Offered

At a glance, M1 Finance offers more account types than Webull, with M1 Plus members getting an extra custodial account privilege. Webull offers taxable, several IRA accounts (except for SEP-IRA), while M1 Finance offers traditional, Roth, Rollover, and SEP-IRA plus trust accounts that Webull also lacks.

It’s important to note that neither platform offers non-profit accounts, HAS, 529, Solo 401K or simple IRA accounts. For those looking at retirement, the Roth IRA offered on M1 Finance is a fully customizable account with easy portfolio rebalancing.

M1 Finance VS Webull User Interface

Finance apps usually take the simplistic route in terms of design. M1 Finance’s system is very user-intuitive and straightforward. This aspect makes the app a top contender for beginners, but seasoned investors can also enjoy the easy use.

Webull offers more complex tools and this is reflected in its user interface. You will find charts and more technical features that speak to those with experience, making it a little less user-friendly for investors who are just starting out.

M1 uses charts and a very large and clear layout that is easy to understand. In comparison, we look at Webull with its professional-looking details and market depictions, which may have a steep learning curve for some.

Mobile App

The mobile app for Webull VS M1 Finance is accessible via desktop and mobile devices for iOS and Android operating systems. Again, the M1 Finance app is much clearer in its operation for users of any experience level.

On the Webull interface, you see the same complex charts with advanced analysis tools. However, it does feature voice commands for easy aid.

M1 Finance Pros and Cons

Pros

  • Very straightforward platform
  • Mobile and desktop-friendly
  • NO fees or commissions
  • Features automated rebalancing functions
  • Various account types
  • Low margin rates
  • FDIC-insured checking account (optional)

Cons

  • More suited for those looking to “set it and forget it”
  • No access to crypto trading

Who Should Use M1 Finance?

M1 Finance is the preferred choice for investors who value a simple interface that doesn’t take long to learn. If you’re looking for long-term investments with a more hands-off approach with Robo-advisors and access to ETFs, then M1 Finance will address these needs.

Although it’s a platform that allows investors to take a more passive approach, it does give you the chance to pick and choose what to put your money in. What really gets the attention of potential investors are the no commission and fees and the dividend re-investing.

Webull Pros and Cons

Pros

  • Commission and fee-free trading
  • Advanced features
  • Suited for more active traders
  • Gives access to crypto
  • Technical and research tools for in-depth data
  • All-day trading window

Cons

  • Has a more complicated interface
  • Higher margin rate
  • No automatic rebalancing 

Who Should Use Webull?

For the more technical and advanced trader, Webull has the tools to accommodate, although it does deter some beginners from choosing their services due to the more complicated platform.

If you have time to learn, do a deep dive into investments and familiarize yourself with the research tools available, then great! Webull is for more active traders and for those who want crypto availability, but M1 Finance would be a more all-encompassing tool for investors with or without experience.

In Summary

There isn’t an all-around “better tool” for investing it just depends on your experience level, what you value and your investment habits. That being said, M1 Finance is our pick for long-term investing, a more passive approach and a far more user-friendly design. Click here for more info on M1 Finance.

Webull expands on the tools research tools available on its platform but limits the target audience in some cases to more experienced investors. Both platforms are completely fee and commission-free, which is a major bonus for both.

Related M1 Finance Comparison Posts

Jeremy Biberdorf

Jeremy Biberdorf is a long time internet marketing professional turned full-time online entrepreneur and blogger. Check out his site modestmoney.com for investing advice and reviews of the best investing platforms such as M1 Finance and SoFi.

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Jeremy Biberdorf

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