Platform Comparison

M1 Finance vs WellsTrade

Compare M1 Finance and WellsTrade 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
WF

WellsTrade

★3.8

WellsTrade is Wells Fargo's self-directed brokerage (not the advisor-led Wells Fargo Advisors) for existing customers who want banking and investing under one roof—basic but functional.

Full Review

M1 Finance vs WellsTrade: Fees, Minimums & DRIP Compared

FeatureM1 FinanceWellsTrade
Our Rating4.7/53.8/5
Trading Commissions$0$0
Account Minimum$100$0
Fractional SharesYesYes (min $10)
DRIPFree + SmartFree
Research ToolsBasicBasic
Best ForHands-Off Dividend InvestorsWells Fargo Banking Customers

M1 Finance vs WellsTrade: 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

WellsTrade

Pros

  • + Commission-free online stock and ETF trades
  • + Free dividend reinvestment with per-security selection
  • + Fractional shares through Stock Fractions program (min $10)
  • + Integration with Wells Fargo banking accounts
  • + No management fees for self-directed accounts

Cons

  • - Very basic investing platform with limited tools
  • - High margin rates (8.5%-12.5%)
  • - No pre-market trading available
  • - Limited after-hours trading (mobile only, until 6:30 PM)

Which Is Better for Dividend Investors: M1 Finance or WellsTrade?

Choose M1 Finance if you...

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

Choose WellsTrade if you...

  • Are in WellsTrade's core audience: wells fargo banking customers

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