Investing is becoming increasingly popular, and there are now more options available than ever before. Two of the most popular platforms for investing are M1 Finance and TD Ameritrade. Both have their advantages and drawbacks, so it’s important to understand which platform will best suit your needs before you start investing. Let’s take a look at how these two services compare.
Fees & Commissions: When it comes to fees, both M1 Finance and TD Ameritrade have some advantages over the other. With M1 Finance, you don’t have to worry about paying any commissions or fees on trades as long as you’re buying stocks or ETFs. On the other hand, TD Ameritrade charges $6.95 per trade plus an additional $0.75 per contract for options trading, but they do offer commission-free ETFs as well as no-fee mutual funds.
Trading Platforms: Both M1 Finance and TD Ameritrade offer powerful trading platforms that can help you get the most out of your investments. M1 Finance offers easy-to-use automated investment tools that allow you to set up an account with just a few clicks, while TD Ameritrade has a more sophisticated setup that includes advanced order types and access to real-time market data. However, both platforms offer extensive research capabilities so you can make informed decisions when placing trades.
Customer Service: When it comes to customer service, both platforms come out pretty evenly matched as well. M1 Finance offers email support 24/7 while TD Ameritrade has more extensive support options such as phone assistance during regular business hours as well as chat assistance during certain times of the day (this varies by region). Both companies also have detailed FAQ sections on their websites that can help answer many common questions quickly and easily.
Conclusion:
M1 Finance and TD Ameritrade are two popular platforms for investing, but each one has its own strengths and weaknesses depending on what kind of investor you are looking to be. Before deciding which platform is right for you, be sure to consider all factors such as fees & commissions, trading platforms, customer service availability, etc., in order to find the one that best meets your needs. With either platform however, you can rest assured knowing that your investments will be secure with industry-leading security protocols in place ensuring your protection at all times!
