The minimum balance to open a taxable account is $100. The minimum balance to open a retirement account is $500. Additionally, certain offers, like M1 Borrow loans, are only available to people with a larger amount of money invested in M1 accounts.
These minimum balances are much lower than those typically required by many of M1 Finance’s competitors — some of whom require extremely large balances that are unrealistic for many less sophisticated or wealthy investors.