How do I close an M1 account? 

Closing M1 Investment Accounts

Before you request to close any M1 Individual or Joint Brokerage, IRA, or Crypto Account, you will either need to liquidate the account to your connected bank or transfer your holdings to another brokerage.

Once an account’s value is $0, you can request to close the account(s).

Steps to liquidate and Investment Account

You can liquidate an account by initiating an outgoing withdrawal for an amount slightly higher than the current value of your M1 Investment Account to prevent funds remaining due to market fluctuations.

A liquidation confirmation and acknowledgment screen will appear. Once you accept the confirmation your positions will be liquidated during the next available trade window.

During account liquidation, scheduled and one-time transfers will be disabled. After selling and settling your positions, the funds will be sent to your linked bank account, typically within 3-5 business days.

Investment Account Transfer

To transfer an M1 Invest Account out of M1, please contact the receiving broker (the institution where the account is going) and ask them to initiate the transfer. 

There is a $100 outgoing ACAT fee for all account types and an additional $100 closing fee for retirement accounts.  See M1 Fees..

Check out our article on how to transfer accounts out of M1 for more information.

Once the transfer is complete, your transferred account will automatically be closed and ineligible to be reopened.


Closing M1 Margin Loan accounts 

You will need to pay down any outstanding Margin Loan balance before your account can be closed. To pay the balance, please navigate to the Borrow tab and select "Pay Back". 


Closing M1 High-Yield Savings Accounts

Before you can request to close an M1 High-Yield Savings Account, you will need to withdraw any remaining funds.

Once the Savings Account’s value is $0, you can request to close the account. 


Closing an Owner’s Rewards Card by M1

To close your Owner’s Rewards Card by M1 account, please reach out to the Owner's Rewards Card by M1 team, at (833) 978-3351. They are available Monday-Friday between 8 am-8 pm CT and Saturday between 9 am-2 pm CT. 


Once you’ve received confirmation all your M1 accounts are closed, you can deactivate your M1 account.

If you completed M1 onboarding and can access the app: 

  1. Navigate to your account settings
  2. Select “Accounts”
  3. Click on “Deactivate Account”
  4. Confirm that you want to deactivate your account
  5. A request will be sent to our Client Success Team, and they will follow-up if additional information is needed.

If you have not completed M1 onboarding:  

  1. Click on the overflow menu in the top left corner
  2. Select “Deactivate Account”
  3. Confirm that you want to deactivate your account 
  4. A request will be sent to our Client Success Team, and we will follow-up once your account has been deactivated.


We’re sad to see you go! We believe in continuous improvement and greatly value your feedback.  


If you would like to provide any feedback or if you have further questions, please contact us. 


M1 does not provide investment advice, and this is not an offer or solicitation of an offer, or advice to buy or sell any security, and you are encouraged to consult your personal investment, legal, and tax advisors. Past performance does not guarantee future performance.



M1 disclosures here.

Was this article helpful?
3 out of 13 found this helpful

Still need help?

We're here for you.

Contact us