M1 Finance Promo Code (May 2022): $30 Signup Bonus

February 23, 2022
Blog

M1 Finance is a mix between an online brokerage and a robo advisor; it offers access to expertly made diversified portfolios, but also allows expert investors to customize their own portfolios. M1 Finance is ideal for both beginners and experienced investors, and it offers five different types of accounts.

M1 Finance has a referral program in place to benefit its clients: by using the referral link (or our referral code YOREOYSTER) you will receive a $30 sign-up bonus after depositing $100. You will also receive your own referral code, which you can use to invite friends and earn an additional $30 for each successful referral.

How To Use Your M1 Finance Promo Code

M1 Finance has a referral program for new investors. When you sign up with M1 Finance using our referral link (or our referral code YOREOYSTER), you will receive a sign-up bonus of $30 after you fund your account. Keep in mind the initial deposit to receive the bonus depends on the type of account you create:

  • For Individual, Joint, and Custodial the minimum deposit is $100.
  • For Retirement (Traditional, Roth, or SEP IRA) the minimum is $500.
  • And for Trust accounts, the minimum is $5,000.

To use the promo code:

  • Visit M1 Finance’s page. Click on the Sign up now button. 
  • Enter your email and create a password.
  • Fill in some of your basic information.
  • Choose the type of account.
  • Answer some questions about your knowledge about investments.
  • Fund your account.

What Is M1 Finance?

M1 Finance is an online broker and robo advisor; it automates and facilitates the process of investing. M1 offers over 100 expertly made pre-built portfolios – referred to as ‘pies’ – to choose from. Each pie is balanced and diversified with your goals in mind; some may fit an aggressive investor looking for short-term gains, while others may benefit investors with lower risk tolerance. The primary investments are a mix of ETFs and stocks; the higher the risk tolerance the higher the stock percentage and vice versa with ETFs.

M1 Finance Features

Some of M1 Finance’s best features include:

  • Customizable portfolio platform.
  • Over 100 expertly-made investing pies.
  • Low-interest margin loans (minimum investment $5,000).
  • Spending and borrowing options.
  • Fully diversified. 

M1 Finance Fees

  • No trading fees.
  • No account management fees.

How To Sign Up With M1 Finance

#1 Visit M1 Finance‘s page. Click on the Sign up now button. 

#2 Enter your email and create a password.

#3 Fill in some of your basic information.

#4 Answer the questionnaire about your past investing experience. The last step is to verify your email and fund your account.

M1 Finance’s Referral Program

After creating your M1 Finance account and funding it you will receive your referral code, so you can invite friends and earn an additional bonus. To find your referral code open your profile and click on the Refer & Earn button. After you receive it, you can:

  • Share your code via text, email, or with your social media audience.
  • Once a referee signs up and funds their account depending on the type of account (refer to the list above), you will receive a $30 bonus.
  • There’s no limit to how many people you can invite.

Is M1 Finance Safe & Legit?

M1 Finance is regulated by the SEC and has a brokerage license. It is also regulated by FINRA, as most other online brokers. FINRA regulates all online brokers that have an SEC license.

Introducing Wealthsimple Trade: Canada’s #1 Online Broker

I recently broke down 8 of Canada’s most popular online brokers, and Wealthsimple Trade came out ahead of everyone else. It scored so well because it excels on what I believe are the three most important factors when choosing a broker: fees, investing tools, and security.

Here’s how Wealthsimple performs in each of those areas, and why I believe it’s the best broker in Canada.

#1 Lowest Fees In The Industry

There are no costs for purchasing or selling equities and ETFs. There’s a $0 charge when you open or shut your account, withdraw funds, receive electronic statements, or have inactive accounts. A $20 fee is charged if you want a paper account statement.

The only fee you will ever pay is a conversion fee + 1.50%, only if you trade with USD. Compared to other brokerages, it’s quite cheap, considering most are charging more than 2%.

#2 Research And Investing Tools

Wealthsimple offers a premium service that gives access to real-time market data, and you can deposit up to $1,000 instantly. There’s also a Wealthsimple Trade Premium service that costs $3 per month.

They’re planning on launching an improvement called Wealthsimple Trade Plus. The service will offer unlimited price alerts, access to USD accounts, and more, all of this for a monthly payment.

#3 Bank-Level Security

Wealthsimple Trade is a member of Canada’s Investment Industry Regulatory Organization (IIROC) and the Canadian Investor Protection Fund (CIPF). That membership means that there’s a protection against insolvency to a maximum of $1,000,000.

Conclusion

M1 Finance is a mix between an online brokerage and a robo advisor; it offers access to expertly made diversified portfolios, but also allows expert investors to customize their own portfolios. M1 Finance is ideal for both beginners and experienced investors, and it offers five different types of accounts.

M1 Finance has a referral program in place to benefit its clients: by using the referral link you will receive a $30 sign-up bonus after depositing $100. You will also receive your own referral code, which you can use to invite friends and earn an additional $30 for each successful referral.

Before You Go

Here are the best sign-up bonuses available right now. If you’re planning to sign up for any of these services, we recommend you take advantage of these bonuses:

Crypto Exchange Signup Bonuses:

Crypto Hardware Wallets:

Online Bank Referral Bonuses:

Online Broker Sign up Bonuses:

Robo Advisor Sign up Bonuses:

Other Everyday Bonuses:

The Best Crypto Exchanges In Canada

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