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  

Afternoon trade window 

  • M1's afternoon trade window begins around 3:00 pm ET
  • The trade window concludes when all orders have been completed.


On trading days 

Changes to your portfolio made before 9:30 am ET are usually eligible to complete during M1's morning trade window, but will execute according to your trade window preference.


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.  


When can you use both windows?  

Each account with $25,000 or more in equity can participate in both trade windows in a single day. For all other accounts, you can select which window you want to participate in. 

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 has 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 client can trade during the morning or the afternoon window.


How do I view and edit my trade window preferences?


  1. On Mobile, navigate to the Portfolio tab for the Invest Account you’re setting your trade window preference for.
  2. Swipe up on the bottom of your screen to view and edit your Auto-invest, next trade window, and Trade window preferences.


  1. On Web, navigate to the Portfolio tab for the Invest Account you’re setting your trade window preference for.
  2. Scroll down to the Automation box below your Pie to view and edit your Auto-invest, next trade window, and Trade window preferences.

Clients 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?

New trade window preferences 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.  


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.  


*M1 Finance, LLC does not charge commission, trading, or management fees for self-directed brokerage accounts. You may still be charged other fees such as M1’s platform fee, regulatory fees, account closure fees, or ADR fees. For a complete list of fees M1 may charge visit M1’s Fee Schedule.

**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.





M1 disclosures here.

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