When you stop to think about it for a second, the primary goal of everyone living in the world today is simple— we all want to be rich and happy. Okay, I don’t know about you, but I definitely want these things. In the quest to meeting our financial goals, money management and investment are essential skills to possess. While it’ll make a lot of sense to just enter some cryptic codes into a magical app like hackers do in the movies and watch all your money multiply, life doesn’t work that way. Thus, several money management and investment platforms have flooded the market to help you in the long-term wealth-building process. From the moment we hold our first dollar, life teaches us essential money management skills that will help guarantee financial security. Now, the world’s buzzing about the stock exchange market, ETFs, cryptocurrency, and all the benefits that come with investing money in high-value companies. While it may seem challenging to take all that information in, two companies have built amazing platforms to help you invest, save and manage your money as you see fit. Introducing the challengers, M1 Finance and Webull. In this ultimate showdown between M1 Finance and Webull, we’ll be pitting these two giants against each other to determine which investment platform is right for you. Don’t get me wrong, these two platforms are similar in so many ways, yet each offers some amazing features unique to their brand. The Number One Problem With Money.
Ever heard the saying, money comes into your hands like a tortoise and runs off sprinting like a rabbit? Yeah, that’s the number one problem with money. From student loans to debts, health care, and food, our wants and needs are infinite and seem to be growing with each passing day. While you can always take on extra jobs to meet these wants, there’s an easier way to manage your finance. This is where the beauty of stock market investing and trading comes in. Learning how to control your money is crucial; making your money work for you is even more important. You need to save up money and invest in rapidly growing businesses. You need an investment plan, and you need to be diligent about following it long-term to achieve true financial growth. “Money, like emotions, is something you must control to keep your life on the right track.” ― Natasha Munson. Are you looking to invest in the stock exchange, trade options, and other commodities but don’t know what investing and trading platforms to begin with? Then you’ve come to the right place for help because I’ll be making a detailed comparison of M1 Finance and Webull: two online brokers and investment managers that have revolutionized the industry. We’ll compare their commissions, trading tools, investing fees, account pros and cons to determine which online broker is better. So strap on your seat belts and let the showdown begin.
M1 Finance M1 Finance is an investment platform that launched in 2015 and allows users to trade stock and Exchange Trade Funds (ETFs) online free of commission. M1 Finance is a robo-advisor that provides financial advice based on sophisticated algorithms while providing you with the power to fully customize your trading plans. Users also have access to multiple prebuilt portfolios and a large selection of useful features to help with your long-term wealth-building journey. With its ability to automate the entire portfolio, M1 Finance is excellent for long-term investors who want access to free prebuilt portfolios, free retirement accounts, fractional shares, a beginner-friendly interface, and allows users to begin with a low minimum balance of $100. The goal of M1 finance is to provide you with a comfortable platform that simplifies and automates the investing process so you can spend your time concentrating on the bigger picture — building wealth.
Pros of M1 Finance.
Create Customized Portfolio. M1 Finance allows users to choose one of more than 80 expert portfolios or build their own customized portfolio.
No Trading fees, deposits, or withdrawal fees to your connected bank account. M1 Finance offers a lower-cost alternative that allows users to trade and manage their assets, create and manage their customized portfolios without any hidden fees or charges.
Trading fractional shares is a possibility.
You can easily understand the composition of your portfolio at a glance at your dashboard.
You can easily place individual stock and ETF orders.
M1 Finance offers considerably lower interest rates on margin borrowing.
The platform offers other cool features, but its tax minimization and smart rebalancing capabilities are the two most exciting.
Because the company doesn’t charge anything for you to use its services, they are entirely transparent about how they generate their revenue.
To create a free M1 Finance, click here to register and start your journey to financial freedom today.
Cons of M1 Finance.
M1 Finance is only for long-term traders and has no support for day trading; hence its limited tools and functionality are not suited for active traders.
Users of M1 finance are restricted to one trading window per day.
Users don’t have the ability to buy or sell options or crypto on the platform.
To create a free M1 Finance, click here to register and start your journey to financial freedom today.
Let’s have a look at the ultimate challenger, Webull
Webull
Webull is a financial services company that launched in 2017. The platform allows users to trade stocks, ADRs, Exchange Trade Funds (ETFs), and options without any hidden fees or commissions. Webull is an excellent option for active traders, and since the platform came into the industry later than others, it picked up a thing or two from its competitors, turning their shortcomings into its strengths. Webullis a full-featured trading platform that offers some of the lowest brokerage fees while providing more tools to help users trade more actively. The platform offers in-depth charting, useful indicators, flexible customizations, advanced orders, and support of cryptocurrency, options trading, and more. With active short-term traders in mind, all these tools and functionality are packed into a beautiful, easy-to-use interface, making it suitable for seasoned professionals.
Pros of Webull
Webullseems to be better suited for short-term traders, active traders, intermediate investors, options traders, and cryptocurrency traders.
Because of its support for short-term trading, Webull has more tools for better technical analysis and research. There are several chats, indicators, graphs, and analytical screens that should be familiar to seasoned traders.
Unlike M1 Finance, Webull offers all-day and options trading.
Running a Webull account is almost entirely free. There are free options trades with no charge per trade or charge per contract, no minimum balance, and you get free trades on stocks, ETFs, and ADRs.
Unlike M1 Finance, Webull provides access to cryptocurrency.
Webull is built to cater for a mobile-first generation and is available as a downloadable desktop software and a full-featured mobile app.
Cons of Webull
Webull does not offer support for fractional shares. However, there are plans to introduce this feature soon.
The platform also lacks a checking account and auto-rebalancing feature.
Webull also has fewer account types and more expensive margin rates.
Webull doesn’t provide support for mutual funds and bonds.
The availability of sophisticated trading tools, screens and graphs, and indicators give it a slightly less intuitive interface, so beginner investors may find it challenging.
Since Webull is built for intermediate and advanced traders, there is little educational support for users to learn more about the platform.
To create a free Webull account, click here to registerand start your journey to financial freedom today.
The Verdict: Which Trading Broker Should I Trade With? M1 Finance and Webull are both powerful trading platforms that share a lot of similarities. However, they do have features that set them apart from each other. But the lingering question remains, which is better and which do you trade with, M1 Finance Vs. Webull? Well, I’m afraid it all comes down to your personal preference and what type of trader you are. M1 Finance is best for you if you’re looking to build wealth on a long-term basis with a passive trading style, and don’t want to spend a lot of time managing your investment portfolio thanks to its customizable portfolios and automation features. For day-traders who need access to sophisticated tools, indicators, graphs, and charts to trade successfully, Webullis the best option for you. Webullis perfect for you if you have more of an active trading style. Because you’ll be trading more frequently, a platform like Webull provides you more than enough tools to study market trends and do your analytical research. In summary, we have no clear winner, and I’ll tag this ultimate showdown as a tie. These two great platforms have different target users, and they are the best trading platforms in the market to help you build financial freedom and grow wealth, either short-term or long-term. If you have any questions, need any help understanding how either of the platforms works or want to create your free M1 Finance or Webullaccount, don’t hesitate to contact us via email. We’ll be more than happy to help you out.