What do you guys think about M1 Finance? I have robinhood, fidelity and etrade. I'm just fascinated by the concept of 'pie' in m1. I'm confused if I should open another account or invest using the tools what I currently have. (I'm not an active trader) Appreciate your feedback! #personalfinance #investments
Happy with them but there is a big catch. I can’t seem to figure out how they trade in their trade windows. The prices the trades fill at are almost always disadvantageous to what I see on charts during their trade window. So they seem to be scamming some slippage off the top - not really free in that sense. But a good product overall vs paying wealthfront etc. for robo investing.
I think they trade only during 1 time of the day - 3pm I think
It’s only for GCs and Citizens
@rumantic what would you say is the best for non US citizens
See pros and cons here: http://www.firetobiz.com/investing-basics I'm gradually exiting from my portfolio there.
Because of this?
yep, and many more similar issues, about pricing when selling, money transfer time after selling (>5 business days).. many more.
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A lot of advantages. It rebalances your portfolio automatically via deposit allocation instead of selling off (tax efficient, but let’s you override to sell to rebalance in one click too). It also sells shares in a tax efficient way (long term gains oldest shares first, etc). You can also automate investments and cash account balances smartly. I wish they had more active trading options or synced with your other investments to balance but otherwise I recommend. Their portfolio margin loans are also super cheap