6
poor
M1: Investing & Banking | unitQ Score
The unitQ score is the fraction of public feedback data (iOS & Android) that mentions quality issues.
100 = No Issues. 50 = Some Issues. 0 = All Issues
100 = No Issues. 50 = Some Issues. 0 = All Issues
-39 Points Past 7 Days
Category: Finance
30-Day Trend
Android unitQ Score
Android User Feedback
49%
Android
37 Reports
37 Reports
iOS unitQ Score
iOS User Feedback
51%
iOS
38 Reports
38 Reports
User Feedback
51%
iOS
38 Reports
38 Reports
49%
Android
37 Reports
37 Reports
M1: Investing & Banking - Latest Quality Issues
iOS
May 15, 2024
Too good to be true
My initial experience with [phone] Finance was phenomenal. I was an early user of the app and immediately applied for the Owner's Reward Card, paid for the premium finance account, and utilized their checking account feature when it became available. Over the past few months, [phone] Finance has removed the checking account, revoked my premium account and suspended my Rewards Card. These all came with no prior warnings or reasons why it occurred. I've paid all my dues consistently and on time. I no longer trust [phone] finance with my money. It was fun while it lasted.
iOS
May 15, 2024
Closed my accounts
[phone] is charging all users with under 10k on there platform a monthly service fee. This will nickle and dime small accounts. New investors like myself need to run. I liquidated my account because if you transfer from there brokerage to another they will charge you up too 200 fee. Just a very greedy company and business practice. Avoid them at all costs.
iOS
May 15, 2024
New $3/ month platform fee
Been using the service since the start of 2024. Just got a notification that I would be charged a service fee moving forward until my account reaches $10k. The service was fair when it was free. I would rather not pay $3 a month, back to robin-hood for the same service but free. Also love how the ONLY support is a chatbot with no way to reach a live person for questions about the said “platform fee” Two stars because the pie chart style of investing was unique but not worth paying $3 a month.
Android
May 15, 2024
Now charging $3/month! Pie is neat but not easy to sell and then swap stocks even as a long term strategy. Trying to sell a stock and replace it with another stock is not easily done because it thinks it's at 100% when transaction is not even done yet. One workaround to swap a stock you don't want, is to remove the stock and add ٪ to an existing stock so total equals 100%. Then exit out of "edit pie" mode then go back in and add the new stock and remove the % on the stock you added the % to.
Android
May 15, 2024
announced a change to double charge customers under the guise of giving us features no one wants to pay for. Before you paid via awful executions, now you also pay $3 a month. Other platforms have adopted similar methods for recurring investments. I am liquidating my account to get away from this sleazy business.
Android
May 16, 2024
[phone] was great. Until, they emailed that instead of having 2 tiers, they're going to start charging the small investors that made them. It was the first notice I received, and they checked my account at the same time, deeming it not to meet the requirements to avoid the fee. I don't need another credit line & I have a full service brokerage I trade with. I hope they enjoy the $3 because I'm liquidating. Don't tell me the same day you're dropping the only thing I value and expect me to be happy.
Android
May 16, 2024
Been an [phone] user for 3 years, and have watched it go further and further downhill both with the app and the actual service. Adding a 3 dollar a month fee for anyone with less than 10k in their account was the final straw for me. Selling and cashing out, moving to a different platform.
Android
May 16, 2024
I can not check my account the app doesn't work.
Android
May 16, 2024
I've been using [phone] for about 3.5 years, making small monthly deposits to slowly save and invest for a better future. Now today, they roll out a new "feature" where they charge you 3 bucks a month to use their platform. This after they completely ignored my previous requests to fix my account, because their math is wrong with regards to reflecting returns. Guess it's time to pull all my money out and put it in robinhood or elsewhere, because I'm not paying.
M1: Investing & Banking - Product Description
M1: THE FINANCE SUPER APP. Build and manage your wealth from the convenience of an automated, intuitive platform. Hundreds of thousands of investors trust M1 with over $6.5B in assets. INVEST Invest with an individual, joint, trust, or custodial account. Or open a Traditional, SEP, or Roth IRA or rollover a 401(k). Choose stocks and ETFs with an intuitive Pies interface; let our automated tools handle the buying and selling. Pre-built Expert Pies help you invest according to your values, risk tolerance, retirement plans, and more. Fractional shares let you invest as little as one dollar for more power and flexibility. One-click rebalancing makes sure your investments match your goals. With M1 Plus, get exclusive features and perks throughout your account for just $10 a month, after your three-month free trial. BORROW Borrow against your investments easily with M1 Margin Loans. Rates from 7.25%-8.75%*. Access funds in minutes for more liquidity without selling off your securities. Funds available in minutes in M1 Spend or M1 Invest accounts, available in 1-2 business days in external banks. THE OWNER'S REWARDS CARD Earn and reinvest cash back as you like with the Owner’s Rewards Card. Get standard rewards of 1.5%, or earn 1.5-10% with M1 Plus.*** You can automatically reinvest your rewards money to build wealth-even as you spend it. CRYPTO M1 Finance now offers investing in cryptocurrencies, including BTC and ETH. You can now make Crypto part of your long-term investing strategy, invest automatically in custom pies, commission-free. M1. BUILD AND MANAGE YOUR WEALTH. ACCOUNT PROTECTION M1 Finance LLC, Member of SIPC. Securities in your account protected up to $500,000. For details, see www.sipc.org. All M1 High-Yield Savings Account(s) deposits are FDIC insured up $5 million.³ --- Additional DISCLOSURES For full list of fees visit M1 Fee Schedule at https://m1.com/legal/disclosures/misc-fees/ See disclosures in the final screenshot above or visit https://m1.com/legal/disclosures/ M1 refers to M1 Holdings Inc., and its affiliates. M1 Holdings is a technology company offering a range of financial products and services through its wholly-owned, separate but affiliated operating subsidiaries, M1 Finance LLC and M1 Spend LLC. Must be 18+ and US resident to open an account. M1 Plus is an annual membership that confers benefits for products and services offered by M1 Finance LLC and M1 Spend LLC, each a separate, affiliated, and wholly-owned operating subsidiary of M1 Holdings Inc. "M1" refers to M1 Holdings Inc., and its affiliates. Brokerage products and services are not FDIC insured, not bank guaranteed, and may lose value. M1 Finance LLC, Member FINRA / SIPC. M1 is not a bank. M1 Spend is a wholly-owned operating subsidiary of M1 Holdings Inc. M1 High-Yield Savings Accounts are furnished by B2 Bank, NA, Member FDIC. ***Credit Card not available for US Territory Residents. The Owner's Rewards Card by M1 is Powered by Deserve and issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC. Review Cardholder Agreement and Rewards Terms for important information about the Owner's Rewards Card by M1 All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them. © Copyright 2023 M1 Holdings Inc. App distributed by: M1 Finance LLC; 200 N LaSalle St., Ste. 800; Chicago, IL 60601; United States
All intellectual property rights, including trademarks and word marks, are the property of respective owners