Platform Comparison

M1 Finance vs SoFi Invest

Compare M1 Finance and SoFi Invest on fees, DRIP, fractional shares and research for dividend investing.

Higher Rated
M1

M1 Finance

★4.7

The ultimate set-it-and-forget-it platform with pie-based portfolios, automatic rebalancing, and free dividend reinvestment.

Full Review
SF

SoFi Invest

★4.3

A modern all-in-one financial platform combining commission-free investing with banking, loans, and complimentary access to financial advisors.

Full Review

M1 Finance vs SoFi Invest: Fees, Minimums & DRIP Compared

FeatureM1 FinanceSoFi Invest
Our Rating4.7/54.3/5
Trading Commissions$0$0
Account Minimum$100$0
Fractional SharesYesYes
DRIPFree + SmartFree
Research ToolsBasicBasic
Best ForHands-Off Dividend InvestorsBeginners

M1 Finance vs SoFi Invest: Pros and Cons

M1 Finance

Pros

  • + Commission-free trading on stocks and ETFs
  • + Unique pie-based portfolio system for easy allocation management
  • + Dynamic rebalancing automatically invests new deposits into underweight positions
  • + Fractional shares let you invest any dollar amount
  • + Three dividend reinvestment options including true DRIP

Cons

  • - Limited trading window (9:30 AM EST only, 3 PM with premium)
  • - $3/month platform fee if account balance under $10,000
  • - No options, mutual funds, bonds, or forex trading
  • - Customer service limited to weekday market hours only

SoFi Invest

Pros

  • + Commission-free trading on stocks, ETFs, and options
  • + No account minimum; fractional shares from $5
  • + Free access to certified financial advisors for 30-minute consultations
  • + Automated investing (robo-advisor) at just 0.25% annual fee
  • + Banking, investing, loans, and insurance under one roof

Cons

  • - Basic trading platform lacks advanced screeners and charting
  • - No tax-loss harvesting (unlike competitors like Betterment)
  • - Limited portfolio customization in robo-advisor
  • - No mutual funds or bonds in active investing

Which Is Better for Dividend Investors: M1 Finance or SoFi Invest?

Choose M1 Finance if you...

  • Are in M1 Finance's core audience: hands-off dividend investors
  • Prefer a higher-rated overall platform

Choose SoFi Invest if you...

  • Are in SoFi Invest's core audience: beginners

Want the full breakdown of fees, DRIP, and research tools? Read our M1 Finance review and SoFi Invest review.

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Investment Disclaimer

Investing involves risk, including possible loss of principal. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice.