M1 Arvostelua 

OMG why oh why did I transfer my IRA to M1. I hate with passion these pies BS. I had a regular account with them that was doing really well, and it's only because I bought during the Covid dip. I decided to bring in my IRA. I put in a Buy for only $50K with the intention to buy gradually over time the rest. This thing bought my WHOLE IRA ACCOUNT, NOT JUST $50k. NOW A MONTH LATER I'M DOWN $10K!!! I'M SEEING RED, LITERALLY! STAY AWAY, THE MOST BS USER UNFRIENDLY UI. AND I AM NOT A NEWBIE!!!

I went to transfer out and was informed that M1 charges $200 to close a Roth and $100 to close any other account. This is insane as all the other brokerages I have used do not charge anything for this kind of move. Please look for somewhere else to put your money. This is a Scam way of doing business.

Complete scam. These thieves have the highest transfer out fees. 100$ to liquidate. They suddenly started charging a 36$ a year fee. Customer service is unfriendly and only interested in large accounts though there are several better brokers and banks, like SoFi or Fidelity or Vanguard or Capita One. Also they force everyone into share holding which can lose all your value. The auto invest means you'll end up paying a lot in fees if you rebalanced..

The M1 interface is not my favorite. I do not find it as user friendly and conducive to financial wellness as other platforms.

The customer service I experienced when trying to do a rollover was extremely challenging and I was redirected to many different people. IN total I called 4 different times about the same issue and had to re-iterate the problem over and over. I felt stuck in the middle between two different banks that had two different methods of doing the same thing. Very frustrating.

Be wary of unneccesary fees.

I tried to remove some positions from my existing M1 Pie. Their AI gave me some instructions over Live Chat, which I followed step-by-step. I specifically asked how to make sure this would not trigger new Buy orders / Auto-rebalancing. Even after turning off "Auto-invest", their system actually did schedule NEW buy orders instead of placing the funds into my account as a Cash balance! I then called their Customer Service, who told me they have tried to get this fixed by the Engineering team for a while but it was still happening. They asked me to reverse everything I had done and to manually place Sell order one by one to circumvent this bug. I already had wasted so much time, I asked to liquidate my account instead. Then they told me this was not possible and the Buy orders would still take place, even if I asked to liquidate the account. I used to love M1 for their simplicity and slick UI/UX in the early days, pretty sad to see what they became over time :-(

This company is a SCAM. All types of fees to rip customers off. Charged me over $100 to transfer account to another brokerage. This company must be sued. SEC must urgently look into this fraud company and ban it. Deserves 0 star.

I was trying to open a saving account for my wife. It got terminated next day without explanation and the customer service didn't provide any resolution or alternatives. and was told she can never apply again. I will close my account with them after this experience.

M1 is an unethical company. They lied about having high-yield savings accounts while promoting them on their website, so when I tried to sign up for one - they just created an investment account instead. I thought it was my new savings account, so I let them use Plaid to run my bank account. When I figured it out, I had to fight with them to delete the investment account, even though I never put in any money. Now they refuse to delete my info from their PoS platform, hiding behind FINRA. Total garbage. BUYER BEWARE.

For help getting back your money

Always have problems with my app and can never keep the same password for more then a few weeks.They never answer the phone,can never access the online account.They are rude in the office been a member over a year still call me by the wrong name. Make you set and wait while they do the fingernails. Place is a joke in ionia.

Withdrawal is not possible, but I was duped into giving them all of my money, believing that they were a trustworthy source to use for investing my retirement income. But after a few months of investing, they took my money and never permitted a payout. Have you heard of “CAL”MOS”HUB” I recently received my fourth payment from them and feel confident in entrusting them with my portfolio. Try trading with them and you'll thank me later, I promise.

I keep receiving emails from them asking me to "verify" my account. At first I thought it's some scammers trying to bait me into verifying an account for them so I didn't click. Then I checked reddit and I'm not the only victim here, some people tried to login and deactivate the account only found that no information was filled in, so it couldn't be created through normal account creation process. It is highly likely that this company has obtained a mailing list (probably from other exchanges) and started mass setting up accounts on their behalf, hoping some of them are dumb enough to complete the registration process and start using their service. Shady behavior.

This is not a good company to trust with your money. I made the decision to liquidate my account over 2 weeks ago and still have not received m money! Everything has been "approved" but yet my bank says there is no pending deposits and my money is in limbo. The support is ludicrus, not helpful and its like they dont even read the email. I hate this company. I assume the move at their own speed when it comes to moving money as it works in their bst interest, avoid this terrible scam of a company at all costs!

The M1 new updates to the MY M1+ app cause a credit card double charge. When I request a refund, customer service says M1's policy is to hold the credit balance to offset future bills. If you insist on refunds, M1 will tell you that it takes more than 8 weeks and the refund will come via check. How can this be in this age of cashless transactions? A credit card refund process is simple today. Doesn't M1 understand that the customer may be cash-strapped and need the funds to pay other bills? I can only conclude that this delay tactic is to serve M1's benefit since there will be many cases like mine. Think of the millions in excess charges that will attract bank deposit interest. Shame on you M1 for putting yourself first before your customer.

I dont know if it is a new kind of marketing, But I got a "Welcome to M1" mail and a verification mail.
It was happening while I was sleeping, so not me.

Else someone got a hold of my mail and made a "prank".. though I cant see why, because im in Europe..

I'm contacting support, lets hope for the best

I was a victim of identity theft. The outcome was being locked out of my accounts for five days. M1 couldn't even get me in. In the meantime, theft occurred on my savings and spend account. They seem unwilling to assist in the recovery of my funds at one time even stated I initiated the checks. NO. Read all the emails and listen to the phone calls I made with M1! Add insult to injury, I asked for M1 to freeze all accounts for 30 days. That 30 days have come and gone and now I can't get my accounts unfrozen!!! I've uploaded everything to do so. I'm being held hostage by this miserable company. What an absolute horror!! I'm now 45 days past initial conversation and still can not access my funds nor have I been credited the funds that were stolen.

I signed up for this company on the recommendation of Paul Merriman at Sound Investing. I opened accounts for myself and one of my grandchildren without a hitch. However, I recently tried to open another custodial account for another grandchild. I have spent over two weeks trying to open this custodial account and I finally gave up. I opened the account at Schwab with one phone call in less than three minutes! I think I have exchanged in excess of 30 emails over the last two weeks trying to open this account and it is still not opened. They only have email support which might work if there were continuity but there is no continuity! When someone answers my email, many times they do not understand nor have they read the previous emails and the question remains unanswered. I would recommend avoiding M1 until they improve support

If I could give this company negative stars I would. Their customer service could not be worse. It is hard to get through to a real person on the phone and next to impossible online. When I finally got through to them on the phone, I asked that they rescind my request that I made hours earlier to transfer my account from another brokerage. That was never done. This was after repeated emails and phone calls when I was assured to would not go through. Apparently, customer service was humoring me. They repeatedly assured me the transfer would not go through but it went through anyway. The reason I pulled the plug on the request is that they won't accept transfers of mutual funds. They will automatically liquidate mutual funds. That will be mean a big tax bill.

One of the worst investing decisions I've ever made in over 40+ years of investing history. First of all the website is atrocious, navigating it makes no sense at all. Their support is very difficult to reach in a timely manner. The "pie" (automated investing based on copying purported moves by known investment groups) is not what you would expect it to be since it also ties your investing moves to only 2 specific times in a trading day (early morning and late afternoon). This later issue can cause severe fluctuations that are impossible to correct. The world does not function on only two time slots in each day. Even their banking (saving account) offers are not what they appear to be. For example they now are offering a 5% API savings deposit rate, but you need to know that this is tied to being an M1 plus customer which requires a membership that is now $10 per month or a non-cancellable $95 per year, which will definitely eat into your interest earnings. Lastly, if you ever want to close your account beware that it will NOT be closed as soon as you notify them of your decision. Mine took well over 10 days to close as it was done in bits and pieces. The result was serious losses deducted from what I was expecting from the day I closed my account. I would not at all recommend this company to handle investments at all.