Compare Wealthsimple vs M1 Finance

Online brokers compared for fees, trading platforms, safety and more. See how Wealthsimple stacks up against M1 Finance!

Wealthsimple vs M1 Finance
  • Great investment platforms
  • CAD, USD, and GBP-based accounts
  • Easy and fast account opening
  • High investment fees
  • Limited options to customize your investment goals
  • Slow email and telephone support

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  • No deposit and withdrawal fees
  • High investment fees for basic services
  • Average investment fees for premium service.
Account opening
  • User-friendly and fully digital account opening.
  • The minimum investment amount is $1
  • You can choose from a lot of account types.
  • The account verification took a bit longer, ~2-3 business days
Deposit and withdrawal
  • No charge on withdrawals or deposits
  • Easy and convenient process
  • Three account base currencies
  • Only bank transfer is available
Investment platforms
  • Both web and mobile investment platforms are available
  • They have a clear structure and user-friendly layouts
  • Two-step authentication
  • Great reports
  • Available only in English
Product offer
Number of model portfolios 30
Can you set goals No
Can you change the risk Yes
Can you set the time horizon No
Can you set atarget amount No
Customer service
Recommended for Canada, USA, and Great Britain residence