How do trade windows work? 

 

What is a trade window? 

A trade window is the window of time each day when we execute trades for clients.  

Why do we have trade windows? 

Two main reasons: 

  1. They keep costs low, allowing M1 to charge no commissions or mark-ups on trades. For a full list of fees, please see our fee schedule.
  2. M1 is a long-term investment platform, not a trading platform. We prioritize your long-term financial growth and focus on building features that enable smart financial decisions.  

 

Morning trade window 

  • All M1 Finance clients have access to the morning trade window. 
  • M1's morning trade window begins around 9:30 am ET every day the NYSE market is open. 
  • The trade window concludes when all orders have been completed.   

Afternoon trade window 

  • Exclusively for M1 Plus members (to participate in both trade windows in a single day, you must have $25,000 or more in equity in each account.)  
  • Begins around 3:00 pm ET 

 

On trading days 

Changes to your portfolio made before 9:30 am ET usually complete during M1's morning trade window. You will see updates after the window closes.  

On non-trading days 

Changes to your portfolio will complete during M1’s morning trade window on the next day the NYSE market is open.  

Why we created the afternoon trade window 

  • Increased control over your portfolio. 
  • Invest last-minute deposits before the market closes. 
  • Take action that aligns with your investing strategy when the market moves. 
  • Provide more time for customers in the western U.S. 

Afternoon trade window eligibility  

The afternoon trade window is exclusively available to Plus members 

Who can use both windows?  

M1 Plus members with equity of $25,000 or more in a single account can choose to participate in both windows. 

Who can use either trade window? 

M1 Plus members with an equity of less than $25,000 in a single account can choose either an AM or PM trade window.

Who can only use the morning window? 

All standard M1 Finance Invest Accounts. 

Important to remember: The $25,000 rule is based on a per-account level, not how much you have in aggregate on the M1 Platform.  

For example:  

An M1 client and Plus member has have three Invest accounts with the following account values.

Below is their eligibility to trade in both the morning and afternoon trade window:

Account Type  Equity  Trade Two Times Per Day Eligibility 
Roth IRA  $15,000  No
Individual Brokerage $28,000  Yes
Traditional IRA  $147,000  Yes

 

Even though two out of the three accounts have values above the $25,000 threshold – this client still won’t be able to trade during the morning and afternoon window with their Roth IRA. However, this Plus member can trade during the morning or the afternoon window. 

How are windows chosen? 

Plus members can choose to use either the AM or PM trade window by logging into their account, going to the Invest tab, and choosing their Trade Window Preference under Portfolio. 

How soon will the new trade window preference go into effect? 

Once a new trade window is chosen, that will go into effect almost immediately.  

Is there a limit to how many times a trade window preference can be chosen? 

No, you can choose new trade windows as often as you want. However, if you have less than $25,000 in your Invest Account, you will not be able to use both trade windows in a single day. 

Why these restrictions?  

These restrictions exist so our clients do not inadvertently violate FINRA’s Pattern Day Trading rules.  

  

How deposits work with the afternoon trade window 

M1 Finance Basic vs. Plus trade windows

Note: If you have less than $25,000 and traded during the morning trade window, you will not trade until the following day. 

 

When is my next trade window? 

Mobile

On mobile, swipe up on your drawer at the bottom of the Portfolio tab to see your eligibility and when your orders will go through.  

M1 Finance mobile account screen portfolioM1 Finance mobile account screen next trade window information

Web

On the web, you can find this information directly below your Pie. 

M1 Finance web account screen trade window information in invest tab

 

**All examples above are for informational purposes and should not be considered an offer to buy or sell certain securities. M1 does not provide investment advice.

 

Please note that all customer orders are considered "not held". This provides M1 with price and time discretion in handling customer orders. Please click here for more details. 

 

Participate in both trade windows when you have $25,000 or more equity to comply with pattern-day trading regulations.  

 

 

20231207-3271825-10386878

 

M1 disclosures here.

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