M1 Finance, Free Automated Investing Plus $20 Bonus

M1 Finance is a free automated investing platform. M1 Finance offers a combination of automated investing, but with a high level of customization that allows clients to create a portfolio tailored to their specifications. You can set up a weekly or monthly transfer that is automatically invested in a “pie” made up of stocks you select. M1 Financial is geared towards more experienced investors, but it is also an option for beginners.

M1 Finance has no trading fees or asset management fees. But, accounts with less than $20 and no trading activity for 90 days are charged a monthly fee. Portfolios with ETFs can incur management fees on the underlying funds that range from 0.06% to 0.20%.

Signup Bonus

M1 Finance usually has a $10 signup bonus. But now for the month of September they are offering double that amount. Here’s how to get you $20 bonus:

Create an account through a referral link by 9/30/2020 at 11:59 PM EST
Fund your account with $100 or more within 90 days of signing up.

Once credited, you will see a $20 Promotional Credit in Activity. You can also invite friends and earn $20 per referral. They with earn the same bonus when they fund with $100 or more.

Offer Terms

Offer available to U.S. citizens and Permanent Residents only.
M1 reserves the right to terminate this offer at any time, to limit the amount of account bonuses you are eligible to receive, and to refuse or recover any promotion award if M1 determines that it was obtained under wrongful or fraudulent circumstances, that inaccurate or incomplete information was provided in opening the account, or that any terms of the M1 Terms of Use or Account Agreement have been violated.
This promotion begins at 9:00 am Eastern Time (“ET”) on Tuesday, September 1, 2020, and ends at 11:59 pm ET on Wednesday, September 30, 2020 (the “Promotion Period”). Sponsor’s computer is the official time-keeping device for the promotion.

Guru’s Wrap-up

I have several investing apps, and M1 is one of them. I haven’t used it actively, but I like the auto invest feature that stands out. I make a weekly deposit that is then invested in a a few stocks that I have selected.

If you sign up now, you will get a $20 bonus, which is better than the $10 that was offered for a while. And if you have more friends that want to join, you can get $20 for every person that you invite. It can turn into $60 if you are in two player mode. You can also check out this list of trading apps and earn even more free stocks and money to invest.