This guide explains each investment account type you can open at M1, along with key features, eligibility, funding requirements, and tips to help you choose the right account for your needs.
Overview of account types at M1
You can open several types of investment accounts at M1, each offering different features and benefits:
Individual Brokerage Account
Joint Brokerage Account
Trust Account
Custodial Account
Individual Retirement Accounts (Traditional, Roth, SEP IRA)
Cash Account (High-Yield Cash)
Crypto Account
Account descriptions and opening steps
Individual brokerage account
Description: Buy/sell stocks, ETFs, and other investments in your name.
Who can open: U.S. residents 18+ with a valid SSN.
Minimum to open: $100
How to open:
Select Individual Investing
Joint brokerage account
Description: Two account owners share equal access and ownership.
Who can open: Two U.S. residents 18+ (can be spouses, partners, family, or unrelated parties)
Minimum to open: $100
How it works: Both owners’ info is required, but account is accessible from a single login.
How to open:
Select Joint Investing
Note: Only one user login per Joint Account.
Trust account
Description: Managed by a trustee for beneficiaries.
Who can open: The trustee of a qualifying trust.
Minimum to open: $5,000
How to open:
Once processed (may take several business days), manage your account through the M1 platform.
Tip: Gather trust documentation before starting the process.
Custodial account
Description: For minors under 18, managed by an adult custodian.
Who can open: Adult (custodian) for a minor (beneficiary).
Minimum to open: $100
How to open:
Select Custodial Account
Note: Once funded, assets belong irrevocably to the minor.
Individual Retirement Accounts (IRAs)
1. Traditional IRA
Description: Contributions can be made with pre-tax or after-tax dollars and may be tax-deductible if you meet income eligibility. Any potential earnings grow tax-deferred and are not taxed until you withdraw them after age 59½. Read more about Traditional IRAs on the IRS website.
Minimum to open: $500
Tax Treatment: Tax-deferred growth; taxes due on withdrawals.
How to open:
Select Traditional IRA
2. Roth IRA
Description: A tax-advantaged retirement account that provides federally tax-free growth and distributions once it has been open for 5 years and you are at least 59½ years of age. Contributions are made with after-tax income. Read more about Roth IRAs on the IRS website.
Minimum to open: $500
Tax Treatment: After-tax contributions; tax-free earnings (qualified withdrawals).
How to open:
Select Roth IRA
3. SEP IRA
Description: A retirement account for self-employed individuals or small business owners. A SEP IRA has a higher contribution limit than a Traditional or Roth IRA. M1 currently only supports SEP IRAs for self-employed individuals.
Minimum to open: $500
Tax Treatment: Tax-deferred; higher contribution limits than Traditional or Roth IRA.
How to open:
Select SEP IRA
4. 401(k) Rollover
Feature: Transfer your 401(k) from a former employer into an IRA.
How to proceed:
Cash account (High-Yield Cash)
Individual cash account:
Description: Cash management account with competitive interest.
Who can open: U.S. residents 18+
Minimum to open: None (see product details)
How to open:
Navigate to the Earn tab
Select “Add account”
Choose Individual Cash Account
Joint cash account:
Description: Two account owners share equal access and ownership.
Who can open: Two U.S. residents 18+ (can be spouses, partners, family, or unrelated parties)
Minimum to open: $100
How it works: Both owners’ info is required, and account is accessible under both account holder’s logins.
How to open:
Navigate to the Earn tab
Select “Add account”
Choose Joint Cash Account
Note: An Individual Brokerage Account is required to open a High-Yield Cash Account. A Joint Brokerage Account is required to open a Joint High-Yield Cash Account. The brokerage accounts don’t need to be funded, but they must remain open while the High-Yield Cash Account is in use.
Crypto account
Description: Trade cryptocurrencies in a dedicated M1 Crypto Account.
Who can open: U.S. residents 18+
Minimum to open: $100
How to open:
Select Crypto Account
M1 and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only. It is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
Brokerage accounts on the M1 platform are either fully disclosed to APEX Clearing or cleared through M1 Finance LLC. Please look at your account statement to determine how your account is cleared.
All investing involves risk, including the risk of losing the money you invest. Past performance does not guarantee future performance. Using margin can add to these risks. Users utilizing APEX cleared margin accounts should review the APEX margin account risk disclosure before borrowing. Users utilizing M1 cleared margin accounts should review the M1 margin account risk disclosure before borrowing. M1 Margin Loans are available on margin accounts with at least $2,000 invested per account. Not available for Retirement or Custodial accounts. Margin rates may vary.
Brokerage products and services are offered by M1 Finance LLC, Member FINRA / SIPC, and a wholly owned subsidiary of M1 Holdings, Inc.
This content was generated using artificial intelligence and is intended for informational and educational purposes only. While reasonable efforts are made to ensure accuracy, AI-generated outputs may omit key context; and should not be construed as financial, investment, legal, or tax advice. Users should independently verify all information and consult a qualified professional before making any financial decisions.
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