Investing comparison
M1 vs SoFi
Updated
Before you compare: This compares features and fees from each company's own pages. It isn't investment advice, and investing involves risk, including loss of money.
Full disclosure: Taylor Price, who runs Priceless Tay, owns Fifecta, so keep that in mind as you read this comparison.
Short answer
M1 is an investing app and SoFi is a savings account. M1 doesn't charge commission, trading or management fees for self-directed brokerage accounts. We checked M1 on Oct 24, 2026, but we haven't verified the price for SoFi yet, and the official sources differ on 2 of the 14 rows in the table below.
M1 vs SoFi at a glance
M1 is an investing app and SoFi is a savings account. This page puts what each company's official pages and app store listings say side by side, with the date we checked every fact. The sources differ on 2 of the 14 rows in the table below.
Management or subscription fee
M1 doesn't charge commission, trading or management fees for self-directed brokerage accounts. It charges a platform fee of $3/month, waived for clients with more than $10,000 on the platform. We haven't verified this for SoFi yet, so check the official site for SoFi before you decide. We checked M1 on Oct 24, 2026.
APY or rate
SoFi lists 3.30% APY with eligible direct deposit or $5,000 in qualifying deposits, and 0.80% APY without them, in rates effective Oct 20, 2026. SoFi says the rate is variable. You need eligible direct deposit, or $5,000 in qualifying deposits every 31 days, to earn the 3.30% APY. We haven't verified this for M1 yet, so check the official site for M1 before you decide. We checked SoFi on Oct 24, 2026.
Opening and balance minimums
SoFi says there is no minimum balance requirement. We haven't verified this for M1 yet, so check the official site for M1 before you decide. We checked SoFi on Oct 24, 2026.
Stock and ETF commissions
M1 Finance LLC doesn't charge commission, trading or management fees for self-directed brokerage accounts. We haven't verified this for SoFi yet, so check the official site for SoFi before you decide. We checked M1 on Oct 24, 2026.
Account types
M1 lists these account types: Individual, Joint, Custodial, Traditional IRA, Roth IRA, SEP IRA and Trust. We haven't verified this for SoFi yet, so check the official site for SoFi before you decide. We checked M1 on Oct 24, 2026.
Fractional shares
M1 says fractional shares let you build your portfolio to your exact percentages, from 6,000+ U.S.-listed stocks and ETFs. We haven't verified this for SoFi yet, so check the official site for SoFi before you decide. We checked M1 on Oct 24, 2026.
Automatic investing
M1 lists auto-invest with recurring transfers, Dynamic Rebalancing and one-click rebalancing. We haven't verified this for SoFi yet, so check the official site for SoFi before you decide. We checked M1 on Oct 24, 2026.
Managed portfolios (robo)
M1 says you can build your portfolio yourself or let M1 Advisor help you decide. Advisory services come from M1 Advisory Services, LLC. We haven't verified this for SoFi yet, so check the official site for SoFi before you decide. We checked M1 on Oct 24, 2026.
Protection
M1 Finance LLC is a member of SIPC, which protects the securities and cash in your brokerage accounts up to $500,000 (including up to $250,000 in cash) if the firm were to fail. SoFi Bank, N.A. is a Member FDIC. We checked both on Oct 24, 2026.
Platforms
M1 lists iOS and Android. We haven't verified this for SoFi yet, so check the official site for SoFi before you decide. We checked M1 on Oct 24, 2026.
App store rating
M1 has 4.7 out of 5 on the App Store from 75,216 ratings. SoFi Checking and Savings has 4.7 out of 5 on the App Store from 385,426 ratings. We checked both on Oct 24, 2026. Store ratings are a dated snapshot from each listing, not our score.
What it costs
M1M1 doesn't charge commission, trading or management fees for self-directed brokerage accounts. It charges a platform fee of $3/month, waived for clients with more than $10,000 on the platform.
As of · m1.com
SoFi Checking and SavingsNot verified yet
Bars show only when every app here lists a yearly price, so these prices sit side by side without them. Prices are list prices from each app's own page, before tax and any offer. Investing fees appear as each company states them. A yearly advisory fee is a percent of your balance, not a monthly price, so it never gets a bar or a price tag.
At a glance
APY
- M1
- Not verified yet
- SoFi
- 0.80% to 3.30% APY
Source
- M1: Not verified yet.
- SoFi lists 3.30% APY with eligible direct deposit or $5,000 in qualifying deposits, and 0.80% APY without them, in rates effective Oct 20, 2026. The rate is variable. You need eligible direct deposit, or $5,000 in qualifying deposits every 31 days, to earn the 3.30% APY. sofi.com/legal/banking-rate-sheet, as of Oct 24, 2026.
App Store rating
- M1
- 4.775,216 ratings
- SoFi
- 4.7385,426 ratings
Source
- M1 has 4.7 out of 5 on the App Store from 75,216 ratings. App Store listing, as of Oct 24, 2026.
- SoFi Checking and Savings has 4.7 out of 5 on the App Store from 385,426 ratings. App Store listing, as of Oct 24, 2026.
Platforms
- M1
- iOS
- Android
- SoFi
- Not verified yet
Source
- M1 lists iOS and Android. m1.com, as of Oct 24, 2026.
- SoFi: Not verified yet.
Minimums
- M1
- Not verified yet
- SoFi
- SoFi says there is no minimum balance requirement.
Source
- M1: Not verified yet.
- SoFi says there is no minimum balance requirement. sofi.com/banking/high-yield-savings-account, as of Oct 24, 2026.
Account minimum
- M1
- Not verified yet
- SoFi
- Not verified yet
Source
- M1: Not verified yet.
- SoFi: Not verified yet.
Stock and ETF commissions
- M1
- M1 Finance LLC doesn't charge commission, trading or management fees for self-directed brokerage accounts.
- SoFi
- Not verified yet
Source
- M1 Finance LLC doesn't charge commission, trading or management fees for self-directed brokerage accounts. m1.com, as of Oct 24, 2026.
- SoFi: Not verified yet.
Protection
- M1
- M1 Finance LLC is a member of SIPC, which protects the securities and cash in your brokerage accounts up to $500,000 (including up to $250,000 in cash) if the firm were to fail.
- SoFi
- SoFi Bank, N.A. is a Member FDIC.
Source
- M1 Finance LLC is a member of SIPC, which protects the securities and cash in your brokerage accounts up to $500,000 (including up to $250,000 in cash) if the firm were to fail. m1.com, as of Oct 24, 2026.
- SoFi Bank, N.A. is a Member FDIC. sofi.com/banking/high-yield-savings-account, as of Oct 24, 2026.
Features
We haven't verified a feature list for either app yet, so this grid is empty for now.
✓ means the official site lists it. ? means we haven't verified it yet, not that the app lacks it.
Screen by screen
Pick a task to see what each app shows for it. App Store and Google Play images are the apps' own marketing, so they can show sample data and staged layouts. Help center images come from the app's support articles. See every app's screens.
Home
M1
No official screen found yet
SoFi Checking and Savings
App Store marketing imageApp Store image with the headline "Own crypto, bank, borrow, and invest." showing a home screen with Banking, Invest and Relay insights.App Store listing, as of
Accounts
M1
No official screen found yet
SoFi Checking and Savings
App Store marketing imageApp Store image with the headline "Mobile banking made easy." showing a Banking screen with checking and savings balances.App Store listing, as of
Investments
M1
No official screen found yet
SoFi Checking and Savings
App Store marketing imageApp Store image about SoFi's brokerage rating showing an Invest screen with a value chart.App Store listing, as of
AI assistant
M1
No official screen found yet
SoFi Checking and Savings
App Store marketing imageApp Store image with the headline "Meet SoFi Coach." showing a Coach screen with prompts for support, taxes and optimizing.App Store listing, as of 
App Store marketing imageApp Store image with the headline "Your money questions, answered." showing a July spending trend chat with a pace chart.App Store listing, as of
Other screens
M1
App Store marketing imageApp Store image 1 of 4 from the M1 listing.App Store listing, as of 
App Store marketing imageApp Store image 2 of 4 from the M1 listing.App Store listing, as of 
App Store marketing imageApp Store image 3 of 4 from the M1 listing.App Store listing, as of 
App Store marketing imageApp Store image 4 of 4 from the M1 listing.App Store listing, as of
SoFi Checking and Savings
App Store marketing imageApp Store image with the headline "Save more with the NEW SoFi Plus." showing a Welcome to SoFi Plus screen.App Store listing, as of
M1 and SoFi Checking and Savings, side by side
Rows marked “Differs” are where the official sources say different things, and 2 rows do here.
Swipe the table sideways to see both apps.
| Field | M1Investing appM1 is an investing app where your portfolio is a Pie of stocks and ETFs you choose, with automation and retirement and custodial accounts.Visit M1's site | SoFi Checking and SavingsSavings accountSoFi's savings account pays a higher variable rate when you have eligible direct deposit or $5,000 in qualifying deposits.Visit SoFi Checking and Savings's site |
|---|---|---|
| Price and fees | Not verified yet. | Not verified yet. |
| Management or subscription fee | M1 doesn't charge commission, trading or management fees for self-directed brokerage accounts. It charges a platform fee of $3/month, waived for clients with more than $10,000 on the platform.As of Oct 24, 2026. Source: m1.com | Not verified yet. |
| APY or rate | Not verified yet. | SoFi lists 3.30% APY with eligible direct deposit or $5,000 in qualifying deposits, and 0.80% APY without them, in rates effective Oct 20, 2026. The rate is variable.You need eligible direct deposit, or $5,000 in qualifying deposits every 31 days, to earn the 3.30% APY.As of Oct 24, 2026. Source: sofi.com/legal/banking-rate-sheet |
| Opening and balance minimums | Not verified yet. | SoFi says there is no minimum balance requirement.As of Oct 24, 2026. Source: sofi.com/banking/high-yield-savings-account |
| Account minimum | Not verified yet. | Not verified yet. |
| Stock and ETF commissions | M1 Finance LLC doesn't charge commission, trading or management fees for self-directed brokerage accounts.As of Oct 24, 2026. Source: m1.com | Not verified yet. |
| Account types | M1 lists these account types: Individual, Joint, Custodial, Traditional IRA, Roth IRA, SEP IRA and Trust.As of Oct 24, 2026. Source: m1.com | Not verified yet. |
| Fractional shares | M1 says fractional shares let you build your portfolio to your exact percentages, from 6,000+ U.S.-listed stocks and ETFs.As of Oct 24, 2026. Source: m1.com | Not verified yet. |
| Automatic investing | M1 lists auto-invest with recurring transfers, Dynamic Rebalancing and one-click rebalancing.As of Oct 24, 2026. Source: m1.com/invest/automated-investing | Not verified yet. |
| Managed portfolios (robo) | M1 says you can build your portfolio yourself or let M1 Advisor help you decide. Advisory services come from M1 Advisory Services, LLC.As of Oct 24, 2026. Source: m1.com | Not verified yet. |
| ProtectionDiffers | M1 Finance LLC is a member of SIPC, which protects the securities and cash in your brokerage accounts up to $500,000 (including up to $250,000 in cash) if the firm were to fail.As of Oct 24, 2026. Source: m1.com | SoFi Bank, N.A. is a Member FDIC.As of Oct 24, 2026. Source: sofi.com/banking/high-yield-savings-account |
| Platforms | M1 lists iOS and Android.As of Oct 24, 2026. Source: m1.com | Not verified yet. |
| Features | Not verified yet. | Not verified yet. |
| App store ratingDiffers | M1 has 4.7 out of 5 on the App Store from 75,216 ratings.As of Oct 24, 2026. Source: App Store listing | SoFi Checking and Savings has 4.7 out of 5 on the App Store from 385,426 ratings.As of Oct 24, 2026. Source: App Store listing |
App store ratings are a dated snapshot from each store listing, not our score. “Not verified yet” means we don't have a current official source for that line. How we source and date this data. Spotted a change? Tell us if something changed.
Weighing a third option? Add up to two more apps to this table and compare up to four side by side.
Who it's for
Pick the tab that sounds like you. The questions come from app help centers, FAQ pages and user forums, and every answer comes from the app's own pages, with the date we checked it.
Just me
Budgeting on your own? These are the basics people ask about first.
Can I export my data?
M1
Not verified yet
SoFi
Yes. You can export your data.
In their words: “You can export your SoFi Checking and Savings transactions to a CSV file at any time by following these steps:”
As of . Source: support.sofi.com
Partners
Sharing money with a partner? Here's how each app handles a second person.
Can my partner use their own login details?
M1
Not verified yet
SoFi
Joint accounts, yes. The source doesn't say your partner gets a separate login.
In their words: “Yes, we offer joint accounts with SoFi Checking and Savings!”
As of . Source: support.sofi.com
Business
Running a small business? Here's what each app says about business money.
Can I share my finances with my accountant?
M1
Not verified yet
SoFi
Yes. You can export your data and send the file.
In their words: “You can export your SoFi Checking and Savings transactions to a CSV file at any time by following these steps:”
As of . Source: support.sofi.com
“Not verified yet” means we haven't found a current official source that answers it, not that the app can't. We only say no when the app's own page does.
Which fits your Money Type?
There are four Money Types: Strategist, Spender, Saver and Scrambler. Each card matches one type to what the sources say about these two apps.
StrategistNeither app's sources confirm a feature we match to this type yet, so the quiz is the better place to start.
First fix: Save the Raise.
SpenderNeither app's sources confirm a feature we match to this type yet, so the quiz is the better place to start.
First fix: Sleep on It.
SaverSoFi lists an APY on deposits. That fits a Saver, whose first fix is putting saved money to work.
First fix: Put It to Work.
ScramblerNeither app's sources confirm a feature we match to this type yet, so the quiz is the better place to start.
First fix: Bills First.
Not sure which one you are? Take the free Money Types quiz. It takes about two minutes.
Full disclosure: Taylor Price, who runs Priceless Tay, owns Fifecta, so keep that in mind as you read this comparison.
Another option: Fifecta
If neither M1 nor SoFi feels right, here is one more option to look at. Fifecta gives every paycheck a plan with FUNDS, and it starts from your Money Type, so the plan matches how you already handle money.
What real users say
These are other people's opinions, not Priceless Tay's. We quote public reviews and posts word for word, link each one and show its date, but we haven't checked the claims in them. A post counts toward a theme when it uses one of that theme's keywords, so a mention can be praise or a complaint.
What SoFi users say
Based on 500 App Store reviews, 1 Reddit post and 1 Hacker News post dated Apr 2026 to Oct 2026, read Oct 2026. We collected the Reddit data with Apify, a scraping service, on Oct 24, 2026.
- Of the 502 reviews and posts we read, 85 mention deposits, transfers or getting paid.
- Of the 502 reviews and posts we read, 74 mention how easy or hard the app is to use.
- Of the 502 reviews and posts we read, 70 mention customer service or support.
Positive
“Most user friendly banking app there is. Been a member for years. Every year they add something new”
Critical
“If you think an online bank is better than a brick and mortar just wait until you need customer service...”
Positive
“my favorite is sofi. i personally use them as a bank...”
Where these come from
- SoFi reviews on the App Store, read Oct 24, 2026. The public feed returns the 500 most recent US reviews. We kept every one dated inside the window.
- Hacker News search for SoFi, read Oct 24, 2026. Public search of comments and posts. 8 named the app; we kept 1 where the writer shares their own use of it.
- Reddit search for SoFi, collected Oct 24, 2026. Collected with Apify (harshmaur/reddit-scraper) on Oct 24 2026: a keyword search for "SoFi checking savings", posts and comments from after Oct 24 2025. It returned 81, most of them about something else. We kept 0 where the writer shares their own use of the app or a clear opinion of it, plus 1 from another app's search that discusses this app. We left out moderators, bots, company accounts, referral posts and people promoting their own apps.
- YouTube search for SoFi, collected Oct 24, 2026. Collected with Apify (streamers/youtube-scraper) on Oct 24 2026: a search for "SoFi checking and savings review" from the past year, up to 8 videos. It returned 8. We kept 0 and left out the app's own channel, sponsored videos, videos with affiliate or referral links and videos about a different product. We count themes from each video's title, description and captions, but we don't quote videos, because the captions we have carry no timestamps.
- u/theyhis in r/budgetingforbeginners on Reddit, Oct 21, 2026.
- imzadi on Hacker News, Jul 28, 2026.
FAQ
How much does M1 charge?
M1 doesn't charge commission, trading or management fees for self-directed brokerage accounts. It charges a platform fee of $3/month, waived for clients with more than $10,000 on the platform. We checked this on Oct 24, 2026.
What is M1's app store rating?
M1 has 4.7 out of 5 on the App Store from 75,216 ratings. That's a snapshot from the store listing on Oct 24, 2026, not our score.
What APY does SoFi list?
SoFi lists 3.30% APY with eligible direct deposit or $5,000 in qualifying deposits, and 0.80% APY without them, in rates effective Oct 20, 2026. SoFi says the rate is variable. You need eligible direct deposit, or $5,000 in qualifying deposits every 31 days, to earn the 3.30% APY. We checked this on Oct 24, 2026.
What devices does M1 work on?
M1 lists iOS and Android. We checked this on Oct 24, 2026.
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Keep comparing
- Read our SoFi Checking and Savings review.
- See M1 alternatives, closest category first.
- See SoFi alternatives, closest category first.
- Browse our guide to the low-cost brokerage accounts.
- Want the bigger picture? Compare more money apps.
Full disclosure: Taylor Price, who runs Priceless Tay, owns Fifecta, so keep that in mind as you read this comparison.
Want a plan built on your Money Type?
Fifecta gives every paycheck a plan with FUNDS, so you know where each dollar goes.
Sources and confidence
- Last checked
- Not verified yet
- 4 of 17 facts
M19 of 10 verified, 1 not verified yet, last checked Oct 24, 2026
- Management or subscription feem1.com, as of Oct 24, 2026
- Account minimumNot verified yet
- Stock and ETF commissionsm1.com, as of Oct 24, 2026
- Account typesm1.com, as of Oct 24, 2026
- Fractional sharesm1.com, as of Oct 24, 2026
- Automatic investingm1.com/invest/automated-investing, as of Oct 24, 2026
- Managed portfolios (robo)m1.com, as of Oct 24, 2026
- Protectionm1.com, as of Oct 24, 2026
- Platformsm1.com, as of Oct 24, 2026
- App store ratingApp Store listing, as of Oct 24, 2026
SoFi Checking and Savings4 of 7 verified, 3 not verified yet, last checked Oct 24, 2026
- Price and feesNot verified yet
- APY or ratesofi.com/legal/banking-rate-sheet, as of Oct 24, 2026
- Minimumssofi.com/banking/high-yield-savings-account, as of Oct 24, 2026
- Protectionsofi.com/banking/high-yield-savings-account, as of Oct 24, 2026
- PlatformsNot verified yet
- FeaturesNot verified yet
- App store ratingApp Store listing, as of Oct 24, 2026
- Reference: sipc.org/for-investors/what-sipc-protects, checked Oct 24, 2026.
Each fact links to the official page it came from, with the date we checked it. Once a fact is older than its app's window (8 days for apps whose rates change often, 35 days for the rest), it reads “Not verified yet” until we check it again. How we source, date and index this data.
This is education, not financial advice.
