Ally Invest Review 2021: How It Works, Pros & Cons

Ally Invest offers a myriad of investing options, from more active trading to handing your cash off to their robo-advisor. It prides itself on offering low to no fees, commission-free ETFs, and robust trading tools.

With their Robo Portfolios offering (that’s Ally Invest’s robo-advisor product), it’s a great overall company to invest with.

What Is Ally Invest and How Does it Work?

Ally Invest is the brokerage arm of Ally Bank and stands out in its offerings due to its low investing minimum amounts, low fees, and a decent trading platform. This brokerage offers something for most investors, whether you’re looking to DIY your investment strategy or use Ally’s robo-advisor offering.

Most stocks and ETFs have no commission fees, and options trades are $0.50 per contract. When opening an account, you’ll find that even if there is a minimum opening balance, it’s much lower compared to other brokerages — their robo-advisor, for instance, only requires $100 to get started.

More advanced traders will be able to log into their accounts and use tools many other brokerages offer, but you’ll find there are specialized options analysis tools such as dynamic profitability graphs.

Ally Invest

Best for Engaged Traders
3.5 out of 5 Overall
Key Features
  • No commissions for self-directed trading
  • Robo Portfolios have no advisory fees
  • Transfer cash between Ally Bank and Ally Invest
Ally Invest offers a DIY option where you select your own securities for your portfolio, including ETFs, mutual funds, Forex, stocks, bonds, and options. Their robo-advisor manages your portfolio based on your investment goals, such as your risk tolerance. The brokerage also offers other features such as commission-free ETFs, and a robust platform for traders.
Ally Invest
Minimum opening deposit
None (though some securities charge commissions)
Accounts offered
Taxable (individual and joint) and four IRAs
Prime perk
Variety of research tools

Ally Invest at a Glance

Feature Details More Detail

Types of Accounts

Individual/Joint Taxable

Four IRAs

Research Tools

Variety of calculators

REcognia and Maxit

Life Trading Platform

Web-based and mobile

Ally Forex brokerage app

Commissions and Fees

No advisory fee

Commissions: $0.50-$9.95

Account Minimum

$0: Self-direct trading

$100: Robo Portfolios

Securities Offerings

ETFs, mutuals, Forex

Stocks and bonds

Robo Portfolios

Diversified mix

Lower risk, high yield

Customer Support

24/7 access

Phone, email, live chat

Research Tools

There are plenty of tools for traders who are looking for more advanced research tools. Ally Invest offers some that are pretty robust, especially for a discount brokerage.

If you’re a technical trader, you can use tools such as a profit and loss calculator, probability calculator, and ones powered by Recognia. There’s also the Maxit Tax Manager, where you can look at what the potential tax implications are if you make a certain trading decision. Plus it helps you create 1099 forms on demand.

Options traders will like the range of tools available, such as an options pricing calculator (compare current bid/ask prices), strategy builder (spots and executes option strategies based on set criteria.

Even if you’re that far yet into your investing journey, Ally Invest has an ETF screener which can make it easier for you to find one that’ll fit your investing goals.

As for real-time life streaming quotes, you can get it for free with the Ally Invest LIVE feature, but Level II advanced quotes from Quotestream are only available to those who conducted more than 10 monthly trades.

Live Trading Platform

Investors can take advantage of Ally Invest’s browser-based live trading platform. Features include broker tools, customizable dashboard, quick tradition capabilities, and real-time streaming quotes. For those who trade at home or on the go can use this platform without needing to download any programs.

Trades can also use Ally Invest’s mobile apps — Ally Forex which is only for Forex trading or Ally Mobile, for all other types of available trades.

Commissions and Fees

Ally Invest doesn’t charge any advisory fees for their Robo Portfolios, and plenty of commission-free ETF, options, and US stocks. Their other fees are competitive, at $0.50 per options contract and $9.95 per transaction for no-load mutual funds. Even though it’s lower compared to competitors, you’ll be charged a $50 fee for a full or partial transfer.

Account Minimum

There is a $0 minimum to open an Ally Invest account and a $100 minimum for Ally’s Robo Portfolios.

Securities Offerings

Ally Invest offers many securities — stocks, bonds, options, ETFs, mutual funds, crypto, forex, and even penny stocks. Meaning, all types of investors will find something that suits their trading goals, whether it’s investing in more passive ETFs, hands-off with a robo-advisor, or more active reading with penny stocks.

Robo Portfolios

Robo Portfolios (formerly called Managed Portfolios) is Ally Invest’s robo-advisor offering. While the portfolio management process is automated, the brokers use human investing experts to create their managed portfolios. Like other robo-advisors, you won’t be able to access a human advisor.

Unlike their self-directed trading where you decide how to allocate your portfolio among various securities offerings, Ally Invest’s Robo Portfolios helps you invest based on goals. As in, they’re specifically designed to be geared towards the reasons you want to invest.

Investors can choose from four types of portfolios:

  • Core: This option divides your money across a diversified mix of US, international, and fixed-income assets. Those who have the Core portfolio are probably those who want to be hands-off. Managed Portfolios will tailor your portfolio based on your risk tolerance.
  • Income: These portfolios are for those who want to receive higher dividend yield and a lower risk profile at the same time.
  • Tax optimized: You’ll be able to be as tax efficient as possible with this portfolio option. Ally Invest invests in low-cost ETFs.
  • Social Responsible: Those interested in putting their money towards that do good will be happy to know these types of portfolios focus on companies that are ESG-friendly. In other words, these companies encompass values that promote environmentally friendliness, sustainability, and energy efficiency.

Customer Support

Ally Invest offers some of the best customer service, with 24/7 access via phone, email, and live chat.

Is Ally Invest Right for You?

Ally Invest offers low pricing, a useful trading platform and tools for novice and advanced traders alike. It’s a great fit for those who don’t have a lot of money to invest — $100 for their Robo Portfolios is one of the lowest minimum requirements we’ve seen. More active investors will love the commission-free trades and low options contract fee.

One big downside is you won’t find tax loss harvesting with Ally Invest’s Robo Portfolios, a major downside if you want to ensure your investments are tax-optimized automatically, However, Ally Invest offers a tax optimized option, which invests in asset classes such as municipal bonds and low-cost ETFs which offer tax advantages. So if you’re investing in other types of managed portfolios, you’re out of luck.

Still, Ally Invest has something for almost everyone. Those looking to invest with a robo-advisor will find the brokerage’s no-frills features appealing, and active traders will appreciate the various research tools. However, if you want futures and fractional shares, you won’t find that here.

Pros and Cons of Ally Invest

Ally Invest may be a good fit depending on what features are important to you. These pros and cons should help you decide.

  • Low costs and fees
  • Forex trading available
  • Ability to consolidate between banking and investing accounts
  • Can earn interest on cash balances

  • Trading tools not available on all platforms
  • No crypto or futures trading
  • Lack of no-transaction-fee mutual funds
  • No tax loss harvesting

Frequently Asked Questions (FAQs) About Ally Invest

We’ve rounded up the answers to several common questions about Ally Invest.

What Research Tools Does Ally Invest Offer?
Ally Invest offers a variety of research tools for different types of investors, among them:
Stock Screener: Allows investors to look at information such as fundamentals, exchanges, price performance, sectors, and valuation.
ETF and mutual fund screener: Sift through criteria such as each fund's profile, performance, portfolio, Lipper ratings, and risk analysis.
Trading Idea Generator: Use backtesting strategies including quality stock at a reasonable price.
Can I Do Day Trading on Ally Invest?
Although Ally Invest doesn't explicitly promote or encourage investors to do day trading on their platform, there are plenty of features that will support this type of investing — the company has a wide range of research and technical analysis tools.
What Are Margin Rates?
When you trade on margin, you're essentially borrowing money from a brokerage firm to invest in additional securities or other short-term lending needs. The funds you borrow is typically based on the value of securities in your portfolio — you'll need to pay this back with interest, or the margin rate.
Are There Socially Responsible Investments at Ally Invest?
Portfolios.This offering invests in companies that are proven to engage in sustainability, energy efficiency, and other types of green initiatives.

Contributor Sarah Li-Cain is a personal finance writer based in Jacksonville, Florida, specializing in real estate, insurance, banking, loans and credit. She is the host of the Buzzsprout and Beyond the Dollar podcasts.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Stash App Review 2021

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Micro-Investing apps aim to make investing more inclusive, easier to understand and less intimidating.

The Stash app is a popular choice for new investors because it lets you begin investing with just $5.

Stash can create a diversified investment portfolio for you based on your financial goals and risk tolerance, offering a user-friendly way to kickstart your investment journey.

Or you can pick from more than 3,000 individual stocks, exchange-traded funds (ETFs), as well as bonds if you want a more hands-on approach.

Trying to decide if Stash is right for you? To help you make the best choice, we’ve reviewed the app ourselves.

What Is Stash?

Stash Financial Inc. is a New York City-based financial services company that lets you  incrementally put small sums of money into an investment portfolio. That’s a tactic known as micro investing.

Former Wall Street pros Brandon Krieg and Ed Robinson founded Stash in 2015 with the goal of helping everyday people create a more secure financial future.

The company operates both a website and a mobile app. Stash offers retirement, banking, individual brokerage and custodial accounts with a monthly flat-fee subscription model.

It also offers personal finance education and an automated investing option.

Stash has become one of the most popular micro-investing apps in the United States with over 6 million users in 2021, according to the company’s website. Stash was last valued at $1.4 billion in 2021.

How Does Stash Work?

In this Stash review, we’ll discuss the different investment accounts the app offers, pros and cons, pricing and more.

But first, let’s explain how to open your account with Stash.

How to Sign Up

You can easily sign up with Stash by visiting the website or downloading the app.

Stash doesn’t require customers to deposit a minimum amount of money to open an account, but you’ll need at least $5 to start investing. Once your account is up and running, you can invest smaller increments (like 5 cents or less).

Pro Tip

Sign up for Stash through The Penny Hoarder and we’ll give you $5 to get started!

You’ll need to provide some personal information during the sign-up process, including your legal name and birth date (you must be at least 18 years old to use Stash). You also must provide your Social Security number to prove you’re a legal U.S. citizen.

Next, you’ll be asked to answer a few questions to help Stash gauge your risk tolerance: conservative, moderate or aggressive.

Once that’s done, you can take a moment to get familiar with the app.

This illustration shows a woman holding a coin.

How Much Does Stash Cost?

Stash offers three subscription plans that charge monthly fees. There are no trading fees or commission fees.

Stash Beginner: $1 per month

The Stash Beginner plan costs $1 per month and gives you access to a personal portfolio investment account, a Stash bank account and a debit card. You can pick your own individual stocks and ETFs, but the automated portfolio option isn’t available with Stash Beginner.

Stash Growth: $3 per month

If you want access to a retirement investment account, or the Smart Portfolio automated investing feature, you’ll pay a $3 monthly fee.

Stash+: $9 per month

Stash+ costs $9 per month, and gives you access to two custodial investment accounts for children. Stash+ members get a fancy metal debit card and earn double Stock-Back® rewards, a program that lets you earn pieces of stock when you shop. You can also opt in to $10,000 worth of life insurance offered by Avibra.

Stash’s flat monthly fee is unlike many other robo-advisors and online brokers, which charge a management fee as a percentage of your portfolio balance.

For example,  Betterment and Wealthfront charge a 0.25% annual management fee for their basic portfolios. So, if you had $1,000 in your Betterment investment account, you’d pay just $2.50 a year in management fees.

This can make Stash’s monthly fees a drawback for users with low account balances.

Still, at $1 a month, Stash Beginner is a fairly affordable taxable brokerage account, considering you also get access to a bank account and a Stash debit card. This entry-level option is cheaper than Acorns, Stash’s biggest competitor.

The fixed-cost $1 model also becomes more affordable if you invest a significant amount of money as your portfolio value goes up but your fees don’t.

However, the price of Stash Growth is a little hard to swallow. Paying $36 a year to access an IRA and an automated portfolio is expensive compared to other online brokers.

And paying more than $100 a year for Stash+ just to get two custodial investment accounts and $10,000 of life insurance is honestly a bad deal for the average investor.

Want to shop around? Here’s our round-up of the best micro-investing apps.

How Stash Invests Your Money

Stash gives you a few ways to start investing. One is a hands-on, DIY experience while the other takes a more automated approach.

Stash previously only allowed users to purchase their own individual investments without guidance. That changed in March 2021, when the company rolled out Smart Portfolio, its automated, robo-investment feature.

  • Pick your own investments. All Stash users get the option to pick and choose from more than 3,000 stocks, bonds and exchange-traded funds. Stash also offers “Curated Collections” or bundles of assets from similar industries and sectors, such as health care and technology. It also offers recommendations to help you achieve a balanced portfolio.
  • Smart Portfolios. This is Stash’s robo-advisor option available to Stash Growth and Stash+ subscribers. Smart Portfolio takes the guesswork out of investing by putting your dollars into a predetermined diversified portfolio that matches your risk tolerance. Automated portfolios are made up of ETFs that give you exposure to U.S. and international stocks, along with U.S. and international bonds. Smart Portfolios will also periodically rebalance your portfolio for you ​if it drifts 5% away from its target asset allocation.

Where Your Money Goes

Stash lets you buy stocks and ETFs, or exchange-traded funds, which bundle numerous stocks or bonds into a single fund.

Stash invests your money using fractional shares, which are tiny pieces of stocks or ETFs. Fractional shares let you start investing in more expensive stocks — such as Apple, Tesla or Amazon — even if you don’t have enough cash to buy an entire share at first.

Fractional share investing starts at 1 cent and is available for every investment account on the Stash platform.

Round-ups are another way to micro-invest with Stash. After linking a credit or debit card, Stash will round your purchases to the nearest dollar and invest the difference. It’s an easy and painless way to invest without thinking about it.

Stash also gives you the option to automatically reinvest dividends back into your portfolio, keeping your money working at all times. You can enable this feature on any Stash investing, retirement or custodial account.

How to Research and Select Your Investments

The “Invest” button on the app’s bottom toolbar lets you explore your investment options.

You can look up specific stocks or ETFs in the search box, or if you want some guidance, Stash can offer suggested investments for you. Tap “Get Recommendations” to get feedback on how to better diversify your portfolio and manage your risk.

Another option is to search different company categories, such as energy, finance, media and technology.

Stash renames many of the ETFs with descriptive, fun titles that make it easy for new investors to understand what’s inside. For example, the Vanguard Emerging Markets Stock Index Fund (VWO) is titled “Up & Coming” while the SPDR Health Care Select Sector (XLV) is titled “Doctor, Doctor!”

You can read a brief overview of any investment, peep the risk level, and if you’re looking at an ETF, see a list of its top company holdings. You can tap over to the performance section for a visual representation of the asset’s past performance.

Once you choose your investments, select “Add to Portfolio.” You’ll be prompted to select how much you want to invest — whether with a one-time purchase or a scheduled, recurring investment.

As time goes by, you can check in on your investments by visiting your portfolio’s home page. Your Stash investment page breaks down your portfolio’s total value and total return.

The app also provides Stash Coach, a game where you earn points and level up after completing investment and personal finance challenges. It will help you with guidance and recommendations, too. You can find this feature when you tap “Home.”

More Stash Features

Invest, Stash’s personal taxable brokerage account, is the company’s flagship feature.

However, the Stash app has expanded its services over time, giving you additional ways to build your financial foundation.

Stash Review: Services and Features

Feature Details

Account minimum

$0 to open, $5 to invest

Account management fees

$1; $3; or $9 per month

Portfolio mix

Stock and bond ETFs

Socially responsible portfolio options

ETFs available

Retirement account options

Traditional or Roth IRA

UTMA/UGMA options

Available with Stash+

Tax strategy

No tax loss harvesting

Automatic rebalancing


Human advisor option


Bank account/cash management account

Checking w/ no overdraft

Customer support

Call 800-205-5164


All Stash subscribers get access to two automated saving and investing tools called Auto-Stash. This can help set your finances to autopilot, so you don’t have to actively deposit money into your account.

You can enable or turn off Auto Stash at any time.

Auto Stash includes:

  • Set Schedule: Automatically save and invest money by setting up recurring transfers from your linked account to your Stash portfolio on a daily, weekly or monthly basis. With this feature, you can set aside money into your cash balance, or into any investments inside your personal portfolio. You can also use Set Schedule to fund your Stash retirement and custodial accounts.
  • Round-Ups: With this feature, Stash will round-up your purchases to the nearest dollar each time you spend with the debit card associated with your linked checking account.
    So, if you buy something on Amazon for $12.50, you’ll get charged $13 with that extra 50 cents directed to your Stash portfolio. ​​Once your spare change reaches $5 or more, Stash will transfer the money to your personal investment account cash balance. From there, you can invest it into any of the assets inside your portfolio.
Auto-Stash used to include a feature called Smart-Stash, which automatically transferred small amounts from your checking account to the app. It was phased out in 2021 and is no longer available.


Stash Retire is the app’s individual retirement account (IRA) option. Through Stash, you can open a traditional or Roth IRA to save for retirement in a tax advantaged account. You can fund your Stash Retire account the same ways you fund a Stash Invest account.

However, Stash doesn’t offer automated management for IRAs, so you’ll need to pick your own investments.

Custodial Accounts

Stash lets you open custodial accounts for minors, whether you’re their parent or not.

A custodial account is essentially a brokerage account for kids, with some investing and tax benefits.

These investment portfolios are technically known as Uniform Gifts to Minors Act (UGMA) or Uniform Transfers to Minors Act (UTMA) accounts. Different states typically allow one or the other, so Stash will pick the type of account that meets your state’s requirements.

You can fund custodial brokerage accounts the same ways you fund a personal Stash Invest account. When the child reaches the age of majority (this varies by state, but it’s usually 18 or 21), they get control of the account, and can continue to invest or withdraw the money.

The $9 per month Stash+ subscription lets you open up two custodial accounts for minors. It’s more expensive than Acorns, which gives you access to multiple custodial accounts for $5 a month.

A woman uses a debit card to make an online purchase.

Stash Banking Account and Debit Card

All Stash subscribers can open a bank account through the company’s partner, Green Dot Bank.

The FDIC-insured digital bank account has no overdraft fees, minimum balance or monthly maintenance fees.

You also get mobile check deposits, bill pay and check writing services with your Stash debit account.

Stash bank accounts come with a Visa debit card linked to your account. You’ll also get access to over 19,000 fee-free ATMs nationwide with your Stash debit card.

Stock-Back® Rewards

Stash lets you earn stock investments while you shop.

When you use your Stash Visa debit card, you’ll earn Stock-Back® rewards, which are small pieces of stocks related to your purchase. For example, if you shop at Walmart, you’ll earn a piece of Walmart’s stock.

When you buy from a company that doesn’t have publicly traded stock — like your local hardware store — the Stash Stock-Back® program will invest a certain percentage into a stock or ETF of your choice.

You’ll earn 0.125% stock on everyday purchases, and up to 5% with certain merchants. Stash+ account users earn 2x stock.

You’ll receive the Stock-Back® debit card when you open and fund a Stash cash management account, which is available to all paid subscribers.

How to Withdraw Money and Close Your Stash Account

To take money out of your Stash investment account, you may have to sell some of your stocks or ETFs.

To sell investments in the app:

  1. Select the investment you want to sell.
  2. Click “Sell.”
  3. Select either “Sell” to sell a portion or “Sell All” to sell the entire amount.
  4. To sell a portion, enter the amount you want to sell, then hit “Next.”
  5. Select “Confirm Changes.”

You can set investments to sell anytime, and Stash will execute your sell order when the market is open. The amount you get from the sale depends on the value of your asset during that selling window.

After that, Stash will release your money into your cash balance.

Keep in mind — and this is really important — selling stocks isn’t like withdrawing money from the bank.

if you sell when a stock is worth less than when you bought it, you’ll lose money. There’s also tax consequences, especially if you sell an asset you’ve owned less than one year.

And if you withdraw money from your Stash retirement account — especially a traditional IRA — you’ll get slammed with a 10% penalty from the IRS if you’re under the age of 59.5.

In general, it’s best to hold stocks over the long term.

Pro Tip

Curious about the best time to sell a stock? Here are 3 good reasons and 3 not so good reasons to sell

Follow these directions to properly close your account.

If you have a question the Stash FAQ page can’t answer, you can contact the company’s support team via phone or email Monday through Friday, 8:30 a.m. to 6:30 p.m. ET.

Their customer support phone number is 800-205-5164 and their email address is Email support is also available on weekends from 9 a.m. to 5 p.m.

Pros and Cons

Every investment app has its pros and cons. Here are some of the advantages and drawbacks of Stash.

  • There is no account minimum balance and you can start investing with as little as $5.
  • No trading fees or commissions.
  • ETFs are broken down by category, so you can see exactly what types of companies you’re investing in, and make decisions based on your interests or beliefs.
  • Educational tools and resources.
  • Auto-Stash helps you automatically invest via round-ups and recurring transfers.
  • You get the option to bank, invest and save money for retirement in a single app.

  • Stash costs between $1 to $9 per month to use.When you compare that to your returns, especially if you have a small account balance, the monthly fee might not be worth it.
  • Stash Smart Portfolios don’t offer tax loss harvesting, an investment strategy that helps reduce your yearly tax burden.
  • The app doesn’t offer access to a human financial advisor or live investment advice.
  • Investing involves risk. Even though you’re investing small amounts of money, you’re still playing with the stock market, so it’s possible to lose money.
You’ve heard of Acorns. You’ve heard of Stash. Here’s how they stack up.

Frequently Asked Questions

Is Stash Legitimate?

Yes, Stash is legitimate, and no, it’s not a scam. The app is all about security, too. It has 256-bit encryption (that’s what a lot of banks use), and you can set up fingerprint or facial recognition access.

When you open an account, you’ll create a four-digit security code, which you’ll be required to enter each time you open the app. You can set up thumbprint access, too.

Can You Make Money With Stash?

Yes. You’ll earn money as your investments gain value over time. Customers with a Stash Visa debit card can also earn 0.125% stock on everyday purchases and up to 5% in stock at certain retailers. Finally, Stash also offers referral bonuses to users who get their friends and family to sign up for the app.

Does Stash Steal Your Money?

Stash doesn’t “steal” your money, but if you have the Auto-Stash feature turned on, the app will automatically round-up purchases made with a linked debit card and/or make scheduled recurring transfers. But that money goes into your portfolio — so it’s still yours.

You can adjust your Auto-Stash settings or turn them off completely at any time.

Can I Trust Stash With My SSN?

Yes, you can trust Stash with your Social Security number. As a financial institution, Stash is required by law to obtain, verify and record this information. The company also needs your SSN to prepare an annual tax reporting form for you.

Rachel Christian is a Certified Educator in Personal Finance and a senior writer for The Penny Hoarder.

The Penny Hoarder is a paid Affiliate/ partner of Stash. Investment advisory services offered by Stash Investments LLC, an SEC-registered investment adviser. 

*Offer is subject to Promotion Terms and Conditions To be eligible to participate in this Promotion and receive the bonus, you must successfully open an individual brokerage account in good standing, link a funding account to your Invest account AND deposit $5.00 into your Invest account.

Bank Account Services provided by Green Dot Bank, Member FDIC. Account opening of the bank account is subject to Green Dot Bank approval. Investment products and services provided by Stash Investments LLC, not Green Dot Bank, and are Not FDIC Insured, Not Bank Guaranteed, and May Lose Value.

Stock-Back® rewards is not sponsored or endorsed by Green Dot Bank, Green Dot Corporation, Visa U.S.A. or any of their respective affiliates, and none of the forgoing has any responsibility to fulfill any stock rewards earned through this program.

For additional disclosures, click here.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

M1 Finance Review: Pros and Cons

Advertising disclosure: Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners.

M1 Finance is a fee-free way to invest that lets you be as hands-on or hands-off as you want to be. The M1 Basic account is completely free (minus the typical fees associated with investing), but you can unlock even more potential out of M1 Plus, which is free for the first year and then $125 thereafter. Supported investment accounts include individual and joint taxable accounts, retirement accounts and event trust accounts.

Both M1 Basic and M1 Plus go beyond traditional investment accounts with cash management options like Borrow (loan) and Spend (checking) accounts that fit in nicely with the portfolio. M1 Plus members even have access to the special Owner’s Rewards Card by M1, with the annual fee waived.

In our M1 Finance review, we’ll start with a quick comparison of M1 Basic and M1 Plus, then dig into each of the components of an account: investing, retirement, checking, loans and the credit card.

M1 Finance Basic

Best for Basic Investing
Key Features
  • No annual fee
  • 1 ATM reimbursement per month
  • $100 minimum investment
4 out of 5 Overall
The M1 Basic account through M1 has no monthly management fee and is great for beginners. If you aren’t sure that M1 is right for you long term, start with this account and upgrade to M1 Plus down the road if you’re satisfied.
M1 Finance Basic
Trading commissions
Borrow rate
Checking account APY
Credit card

The no-frills M1 Basic account from M1 Finance boasts $0 trading commissions with an AM-only trading window. With M1 Basic, you can still open a checking account (Spend) and take out a personal loan. You just miss out on lower borrowing rates, checking account rewards and the rewards credit card.

The Borrow account comes with a 3.5% rate and requires a $5,000 minimum balance. The Spend account has a $0 minimum balance requirement, 0.8% to 1.0% international fees and one monthly ATM fee reimbursement.

If you just go with M1 Basic, this will serve you well as an investment account (the lack of fees is the big appeal), but you should seek out personal loans and a checking account elsewhere.

M1 Finance Plus

Best for Account Extras
Key Features
  • $125 annual fee
  • 4 ATM fee reimbursements per month
  • $100 minimum investment
4.5 out of 5 Overall
The M1 Plus account through M1 may cost $125 a year (first year is free!), but the perks that come with the account are well worth the cost for those who will take advantage of them: cash back debit card, lower interest rate on personal loans, larger trade window and rewards credit card.
M1 Finance Plus
Trading commissions
Borrow rate
Checking account APY
Credit card
Owner’s Rewards Card by M1

When you upgrade to the M1 Plus account, you’re getting far more than a basic investment platform; you’re getting a banking experience that rewards you for spending (plus more competitive borrowing options).

For starters, M1 Plus gets you AM and PM trade windows, rather than just AM. The minimum balance for the Borrow account is still $5,000, but the rate drops to 2%.

The Spend account is far more attractive with M1 Plus. For starters, you’ll get 1% APY on your checking, which is more competitive than most banks’ savings accounts. On top of that, you will pay no foreign transaction fees, get four monthly ATM fee reimbursements and can send paper checks from the M1 app. And did we mention 1% cash back on debit card purchases? With checking rewards this good and your own investment account, you could do away with a traditional savings account altogether.

M1 Plus members can also apply for the Owner’s Rewards Card by M1, a rewards credit card that incentivizes shopping with merchants that you’ve invested in. The $95 annual fee is automatically waived as long as you keep your M1 Plus account active. Cash back rewards range from 1.5% to 10% with a maximum reward value of $200 per month (or $2,400 per year). Those rewards are then automatically reinvested in eligible accounts.

Sign-Up Bonus

M1 Finance is currently running an enticing sign-up bonus. When you open a new M1 account and make a qualifying deposit within the first two weeks, you’ll get a bonus ranging from $30 to $500.

M1 Finance Bonus Breakdown

Deposit Amount Bonus Amount

$1,000 to $4,999.99


$5,000 to $9,999.99


$10,000 to $29,999.99


$30,000 to $49,999.99




This promotion is running through the end of 2021. It is likely that M1 will run a similar promotion in 2022, but M1 has not released details on the bonus amounts for various deposits yet.

The bonus is only available to new M1 customers. If you have opened an M1 investment account previously, you are not eligible for the bonus payout.

M1 Finance Fees

The M1 Basic account has no annual fee while the M1 Plus account costs $125 a year (the first year is free). While other investment platforms often charge you commissions on trades, M1 Finance is truly fee-free.

However, you will pay fees for some less common tasks, like paper statements, account transfers and account inactivity. These are all very transparent on the M1 site, and it is not likely the typical customer would be paying these fees.

The full rundown on M1 fees.

M1 Finance App

As an online robo advisor, M1 Finance offers a great online platform that is relatively easy to use once you get used to it. Even more important, M1 offers a mobile app that is ideal for tech-savvy investors

Within the app, you can buy and sell individual stocks, mutual funds and ETFs; set up smart transfers (rules that automatically move money within your account); and manage your Borrow and Spend accounts.

At the time of publishing, the M1 mobile app had nearly 36,000 ratings on the Apple App Store with a star rating of 4.6. On Google Play, it has almost 17,000 reviews and a 4.5 star rating.

M1 Finance Customer Support

M1’s client success team is available from 9 a.m. to 5 p.m. ET on any day the U.S. stock market is open. The limited access to customer support agents can be difficult, especially for those accustomed to 24/7 customer service.

Because M1 is a robo advisor, you cannot contact financial advisors for investment advice or personal finance advice. If you need more tailored investment advice, consider a company with physical locations or real human advisors.

M1 Finance Review: Key Features

Below, we’ve spelled out the fine print of each part of an M1 Finance account. Look for Our Take at the end of each section for a quicker read.

M1 Invest

The M1 Invest platform includes automatic rebalancing of your accounts, which means the investment platform will automatically manage your investments (selling and buying various individual stocks, mutual funds, bonds, etc.) to keep your account proportioned how you want it (based on your risk tolerance, preferred asset allocation and investment goals). The auto rebalancing feature also includes tax loss harvesting.

While automatic rebalancing is a common feature among robo advisors like M1 Finance, the option for fractional shares is a little more unique and a hard sell. Fractional shares allow you to buy into part (i.e., a fraction) of stocks and ETFs (exchanged-traded funds) that might otherwise be too expensive for you to invest in.

The selling point of an Invest account with M1 is “The Pie.” This is M1’s solution for easy portfolio management. You can create custom pies via an interactive dashboard that lets you browse 6,000+ stocks and ETFs to truly customize your investment portfolio. But if you don’t have the time or knowledge to customize your portfolio, you can select from “Expert Pies” that the M1 Finance team has “baked.” With more than 80 curated Expert Pies, there is likely to be one or more that suits your investment strategy and risk tolerance.

Some examples of Expert Pie categories include:

  • General Investing
  • Plan for Retirement
  • Responsible Investing
  • Income Earners
  • Hedge Fund Followers
  • Industries & Sectors
  • Just Stocks & Bonds
Community Pies allow you to find and share portfolios that align with personal values. You can build and invest in pies that focus on publicly traded companies led by Black, female, or LGBTQ+ leaders.

You can make your portfolio as diverse as you’d like with M1, with access to stocks, bonds, mutual funds, index funds, exchange-traded funds and options. If most of this goes over your head, however, you will benefit from the Expert Pies already fresh out of the oven and served up for you.

Note: There is a $100 investment minimum for M1 Invest.

Our Take: For those who want hands-off investing through a robo advisor, rather than a real human financial advisor, M1 Finance is a great platform. And if you learn more about the market and want to play a more direct role in your investment strategy, the customizable Pies allow you to do so without needing to close your M1 account. If you simply want the investment aspect of M1 (and don’t care about the Spend, Borrow, or credit card portions), we recommend the free M1 Basic account.

M1 Retirement

The M1 Invest platform is designed for investing in the stock market for goals of any length, but you can also specifically open tax-advantaged accounts for your retirement. M1 has options for an IRA, a Roth IRA and even a SEP IRA.

These accounts share the same benefits of a traditional investment account with M1: access to Expert Pies, fractional shares and auto rebalancing. If you already have an IRA or 401(k) elsewhere and would like M1 to manage it, you can roll over your account.

Our Take: Try out M1 Invest first to make sure you are satisfied with the platform. If, after a few months, you find this robo advisor is the right match for you, roll over your retirement accounts to keep them under one roof. But if you are happy with how your retirement account portfolio is being managed elsewhere (and the fees are negligible), it’s perfectly fine, albeit a little more confusing, to have the accounts managed separately elsewhere.

M1 Borrow

M1 Finance is a portfolio line of credit, meaning it offers its customers a flexible line of credit that is borrowed against their own investments. Use it to start a business, fund a wedding or as a down payment on a house. There is no application involved and no payment schedule, and it takes just three clicks to borrow.

You can borrow up to 35% of your account value. Rates are 2% for M1 Plus members and 3.5% for M1 Basic members. This is an ideal scenario if you have high-interest loans, like student loans or credit card debt, that you would like to pay off; then you’d have a more manageable loan to pay off via M1.

This could also come in handy if you do not have the means to save toward an emergency savings fund. Instead, take out a low-interest personal loan through M1 Borrow to avoid high-interest medical debt or credit card payments.

Our Take: Never borrow unless you have to. Don’t take out a loan just to have some cash to play with. That said, if taking out an M1 Borrow loan can eliminate monthly payments on predatory loans, take advantage of this option.

M1 Spend

You can also utilize cash management account features via M1, which is a more recent addition to the platform. The M1 Spend account is ideal if you are an M1 Plus member because of the extra perks. We do not recommend the Spend account as a checking account alternative to those using M1 Basic.

M1 Plus customers with a Spend account will get the following cash management features:

  • 1% cash back on debit card purchases
  • 1% APY on your cash balance
  • Four ATM fee reimbursements each month
  • 0% foreign transaction fees

Other notable features of the Spend account (for both M1 Basic and M1 Plus) include early direct deposit access and a $0 account balance minimum. Both accounts come with the M1 Spend Visa Debit Card, but again, only M1 Plus members get the 1% cash back perk.

M1 Plus members can also set up smart transfers; if your cash balance in the Spend account hits a certain threshold, M1 will automatically transfer and invest it.

Because M1 is not a bank but a brokerage, it partners with Lincoln Savings Bank to service its checking account.

Our Take: This Spend account is much better than a lot of the high-interest checking accounts from other online banks. However, you do have to pay to get these perks. If the cash back and APY will more than cancel out the cost of the account, this is a must-have for M1 Plus members.

M1 Credit Card

The Owner’s Rewards Card by M1 is a standout feature of the M1 Plus account. You can earn cash back on purchases with brands that you’re invested in; the standard cash back is 1.5%, but select brands offer 2.5%, 5% or even 10% cash back.

Some of these popular brands include Apple, Amazon, Walmart, Target, Spotify, Netflic, Peloton, Popeyes, Victoria’s Secret, Converse, Delta and Starbucks.

You can even choose to reinvest this cashback into your portfolio for continued growth.The credit card account comes with a contactless metal card with tap-to-pay.

Our Take: If you want a rewards credit card and plan to invest with M1, this should absolutely be on the top of your list. Even if you have another rewards credit card, the 10% cash back on select merchants is too good to pass up. Since the fee is waived for M1 Plus members, you could even open this credit card and only use it when you’ll get the 10% cash back if you have another rewards credit card to utilize in other scenarios.

M1 Finance Pros and Cons

If our M1 Finance review has not given you a clear decision on whether to invest quite yet, check out these pros and cons of M1 Finance.

  • Automatic rebalancing for preferred asset allocation
  • Fractional shares
  • Hands-off investing for beginners
  • More customization for advanced investors
  • Cash back debit and credit cards
  • High-interest checking account
  • Low-rate loans

  • No savings account
  • No checking account perks for M1 Basic account
  • $125 fee for the M1 Plus account
  • No access to human financial advisors

Frequently Asked Questions (FAQs) About M1 Finance

Still have some questions about M1? Here’s what other readers like yourself are asking — and the answers to those questions:

Is M1 Finance Trustworthy?
M1 is a trustworthy automated investment platform. M1 is a registered broker/dealer with FINRA (Financial Industry Regulatory Authority) and a member of SIPC (Securities Investor Protection Corporation).

In addition, your funds in the Spend account are insured by the FDIC (Federal Deposit Insurance Corporation).

What are the Cons of M1 Finance?
M1 Finance’s pros far outweigh the cons; however, we have determined a few downsides to M1:

1. There is no savings account.
2. There are no checking account perks for an M1 Basic account.
3. To unlock the checking account perks, you must pay the $125 fee for the M1 Plus account.
4. There is no access to human financial advisors.

Is M1 Finance Good for Beginners?
Because of the Expert Pies that allow users to choose among investment portfolios curated for their specific needs, M1 Finance is great for beginners. Even better, the M1 Basic account is free and has no commission fees.
Is M1 Finance Really Free?
M1 Finance is a free automated investing platform. The M1 Basic account is free, and there are no commissions on trades. However, the M1 Plus account is $125 a year, though the first year is free.
Should I Get M1 Plus?
If you plan to take advantage of the M1 Borrow loan, the perks of the M1 Spend checking account and/or the cash back from the M1 credit card, paying $125 a year for an M1 Plus account makes a lot of sense.
Is M1 Finance a Bank?
M1 Finance is a brokerage account, but it also operates a digital bank account with cash management account features like a checking account. The checking account is interest bearing if you pay for an M1 Plus account. However, you cannot open a savings account with M1, nor can you apply for auto loans or home loans. In that sense, it does not operate like a traditional bank account.
Does M1 Finance Offer Tax Loss Harvesting?
Yes, M1 offers tax loss harvesting. Tax efficiencies are built into the M1 robo advisor platform.

Timothy Moore covers bank accounts for The Penny Hoarder from his home base in Cincinnati. He has worked in editing and graphic design for a marketing agency, a global research firm and a major print publication. He covers a variety of other topics, including insurance, taxes, retirement and budgeting and has worked in the field since 2012.

Investing in securities involves risks, including the risk of loss. M1 Finance LLC is an SEC registered broker-dealer. Member FINRA/SIPC.

Borrow rate may vary. Borrowing involves additional risks, including the risk to lose more than deposited. Not available for retirement, custodial, or trust accounts.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

SigFig Review 2021: Pros and Cons

SigFig is unlike robo-investors in that it works with partnering brokerage companies — Charles Schwab, Fidelity and TD Ameritrade. If you have existing funds with the first two brokerages, SigFig will manage your assets there. Otherwise, SigFig will open an account for you at TD Ameritrade.

What Is SigFig and How Does it Work?

SigFig is a robo investing platform partnering with third-party brokerage firms — Charles Schwab, Fidelity, and TD Ameritrade. If you have current assets invested at any of these three brokerages, you’ll keep the money there and SigFig will manage them. Otherwise, if you want to open a brand new account, then SigFig will open a managed TD Ameritrade account for you.

To start, you’ll sign up for their account management service and SigFig will go to work analyzing your portfolio and make suggestions on what asset allocations are best. It’ll also continue to monitor and improve your portfolio by diversifying investments and automatically rebalance them.

The goal is to ensure you’re getting affordable advisory services and options to make your portfolio align with your financial goals. Aside from low management fees, SigFig aims to find investors’ exchange traded funds (ETFs) with low fees with the selected asset classes to help save money — average expense ratios range from 0.07% to 0.15%.

SigFig Portfolio Account

Best for Passive Investors
Key Features
  • Invests in a mix of four different Vanguard ETFs
  • Portfolios monitored daily
  • Low fees
3.5 out of 5 Overall
SigFig monitors your portfolio from your linked partnering brokerage accounts and automatically rebalances your asset allocation to help minimize fees and reduce risk. Other tools include a free portfolio tracker, where you can see all of your investments in one place, and access to unlimited meetings with financial advisors.
SigFig Portfolio Account
Minimum opening deposit
Management or advisory fees
None for the first $10,000 invested; 0.25% afterwards
Accounts offered
Taxable (individual and joint) and IRAs with partnering brokerages
Prime perk
Free portfolio tracker

Important Features

Portfolio Tracker

This free feature allows you to link other brokerage accounts (whether or not it’s with partnering companies) so you can track how your investments are faring. You’ll get a weekly email on items such as an overall view of your portfolio’s performance, current investment news, and the week’s top securities.

This tracker won’t actively manage all parts of your portfolio, only ones with partnering brokerages you’ve opted into.

Other features of the Portfolio Tracker include life chat and phone support, reporting dashboards, and analysis of external portfolios.

Commissions and Fees

Managed accounts won’t be charged advisory fees for the first $10,000 SigFig managed for you. Once you exceed this amount, the annual advisory fee is 0.25% of your invested amount.

Of course, you’ll also have to pay fees on the assets in your portfolio — aka expense ratios for index funds, ETFs and mutual funds. These usually range from 0.07% to 0.15%. SigFig aims to get you the lowest expense ratios possible so you can keep more money towards your investments.

Portfolio Mix

SigFig helps investors with creating a diversified portfolio designed to help you reach your goals. Your money will be invested in a mix of various funds based on factors such as your risk tolerance level.

Some of the assets you may find in your portfolio (represented by ETFs) include:

  • U.S. Stocks
  • U.S. Bonds
  • Developed markets stocks (international)
  • Emerging markets stocks
  • Short-term U.S. treasuries
  • Treasury inflation-protected securities
  • Municipal bonds
  • Emerging market sovereign debt
  • Real estate

The portfolio management company likes ETFs that don’t have commission fees — ones from Vanguard, iShares, and Schwab are chosen. Your exact portfolio mix depends on the brokerage accounts you currently have, since there may be ETFs that are only held at one partnering company.

Since it partners with Fidelity, TD Ameritrade and Schwab, you’ll also be able to see a breakdown of the types of funds you may be able to invest in. You can see this list on SigFig’s website.

To find out more about your suggested portfolio allocation, you can log into your SigFig account and head to the “Guidance” section. The asset allocations are based on your answers from the questionnaire SigFig provided when you opened your account.

The questions are designed to help to figure out your financial goals and risk tolerance. Recommendations will change whenever you change your risk level or when you want to edit your asset allocation.

If you’re ever unsure about the process or why SigFig made certain recommendations, you can speak to a customer representative. During their business hours, you can receive a free 15-minute consultation to talk through your investment options.

Plus, you can look up more information on each underlying investment by looking at one-year historical trends to see how their portfolios performed (you can find it on their website).

Human Financial Advisors

The point of robo-advisors is that you can trust the brokerage to help you make investment decisions on your behalf using their proprietary algorithms. However, there are options if you still want the advice of human financial advisors.

Plenty of robo-advisors offer this feature, though it can come with higher account minimum requirements or to upgrade to a higher tier offering. That’s why SigFig offering unlimited financial counseling for all paid clients is a breath of fresh air.

Once you’ve signed up for SigFig’s portfolio management services, you can sign up for free consultations as many times as you want — you’ll need to schedule an appointment. Taking advantage of this service means you can get additional investing insights and other advice tailored to help with your financial well-being.

In selecting the 8 best robo-advisors of 2021, we looked at fees, account minimums, ease of use and other key features of each platform.

Portfolio Management

SigFig manages your portfolio based on asset allocations and asset classes it believes will best suit your financial goals. As mentioned before, SigFig will gain insight into what you want by looking at the answers you provide from the initial questionnaire.

It’ll also analyze your existing portfolio to see what your current allocations are. Then, if there are any discrepancies, it’ll highlight potential problematic parts of your portfolio and recommend an approach that’s more optimized towards your goals.

For instance, if you have existing funds that are too conservative, SigFig might recommend a more aggressive allocation, or highlight securities that have high expense ratios. It’ll also automatically rebalance your portfolio whenever it deviates from your target allocation.

Tax Loss Harvesting

SigFig offers free tax-loss harvesting for customers, no matter how much it is invested. This investment strategy helps you to minimize taxes by selling assets that have capital losses to offset gains made.

Customer Service

You can speak with a representative during SigFig’s office hours from Monday to Friday, 9 a.m. to 6 p.m. EST via phone, live chat, or email.

SigFig at a Glance

Feature Details More Details

Financial tools

Portfolio tracker

Free advisor sessions

Portfolio Mix

9 ETFs

Mix from 9 asset classes

Automatic Rebalancing


Free for all accounts

Tax Loss Harvesting


Free for all accounts

Account Types

Individual/Joint Taxable

Five IRAs

Pricing and Fees

0% fee for 1st $10,000

0.25% above $25,000

Customer Support

Phone, email and chat

9 a.m.-6 p.m. EST, M-F

Pros and Cons of SigFig

SigFig may be a good fit depending on what features are important to you.

  • SigFig charges some of the lowest fees amongst available robo-advisors. For one, you don’t have to pay any management fees for the first $10,000 invested, and it’s a low 0.25% once it exceeds that.
  • Anyone who invests through SigFig can get the help of financial advisors for free — you have unlimited appointments.
  • If you have assets invested with partnering brokerages and don’t want to move them, you can keep them where they are, saving you time.

  • The $2,000 account opening minimum may be off-putting to some, considering other competitors have much lower requirements.
  • While you can open taxable and retirement accounts, those who want other options, such as assistance with their 401(k) accounts need to look elsewhere.

Is SigFig Right for You?

SigFig is a good fit if you have an existing brokerage or IRA account and don’t want to manage it yourself. It’s also a good fit if you want to pay as little in management fees as possible, since you’ll pay exactly 0% for your first $10,000 invested.

However, if you don’t have accounts with Fidelity, Schwab, TD Ameritrade, you technically won’t be able to have SigFig manage your funds — though they may add more partner companies in the future. That means if you want to stop paying high management fees and potentially transfer fees, then keeping assets with partner companies is a smart choice.

If you’re opening a new brokerage account, be sure you like what’s on offer with TD Ameritrade, as your funds will be held there.

The free portfolio tracker is a nice tool to help you monitor external portfolio accounts, and the access to human financial advisors isn’t too shabby either.

Overall, SigFig is a fair contender based on the fact that you’ll pay low fees with automatic rebalance and tax loss harvesting services. Plus, if you don’t have $10,000 or more invested, you’ll pay even less.

However, if you want more flexibility in your choices of assets, and want your entire portfolio (such as your 401k account) managed, then SigFig may not be the best option for you.

Frequently Asked Questions (FAQs) About SigFig

We’ve answered some of the most common questions about SigFig, the robo-advising platform.

What Products Does SigFig Offer?
The two main offerings of SigFig’s business is their portfolio tracker and asset management services. The portfolio tracker is a free tool where you can aggregate your investment portfolio (even external ones) so you can see how your investments are performing. SigFig’s asset management services will balance your portfolio and ensure its diversified based on factors such as your risk tolerance and other financial goals. The management fees are low.
What Does SigFig Recommend for my Investment Portfolio?
SigFig recommends assets based on answers provided in your questionnaire that relates to factors such as your risk tolerance, desired financial goals and time horizon. It’ll recommend asset allocations based on different asset classes within ETFs and can include securities such as stocks, bonds, real estate, treasuries, and inflation-protected securities.
Are There Downsides to Using a Robo-Advisor?
A robo-advisor allows you to experience hands off investing by having a brokerage automatically invest your money into allocations based on your risk tolerance and financial goals. However, investors may not have as much flexibility, depending on the robo-advisor. While some allow investors to customize some of their portfolios, others may not and only have limited securities offerings.

Contributor Sarah Li-Cain is a personal finance writer based in Jacksonville, Florida, specializing in real estate, insurance, banking, loans and credit. She is the host of the Buzzsprout and Beyond the Dollar podcasts.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Tornado Will Pay up to $1K to Sign Up — and Teach You to Be a Better Investor

There are so many investing apps out there now — sometimes it’s hard to know which one to choose.

But if you’re tired of the gamification of the stock market and want to actually improve your investing strategies and knowledge, we like an app called Tornado.

Tornado is an investing app created by Wall Street veterans who want people to become better long-term investors. And they’re giving new users up to $1,000 to join and start improving their skills.

Skip the Games and Start Becoming a Smarter Investor

If you’re just looking for the next GameStop frenzy — this app isn’t for you.

But if you’re focused on understanding the why behind stock market trends, making smarter trades and investments and growing your net worth, Tornado is a better choice.

What makes Tornado different from those other investing apps is its commitment to helping people become better investors. All within your subscription, you can get expert-level insight and ask leading investors your burning questions.

Plus, the Tornado newsfeed is tailored to cover your investments and your interests — think of it like a personalized replacement for your Wall Street Journal ticker (but for a quarter of the cost).

Even better? Tornado will pay you to better your understanding of ETFs, index funds, retirement accounts and more with its Learn and Earn Program.

Get up to $1,000 When You Create a Tornado Investment Account

Signing up for a Tornado account can earn you some serious cash. When you create your account, you’ll be randomly selected to earn anywhere between $10 and $1,000. Plus, you’ll get a deposit bonus when you make your first transfer from your bank account.

You can also earn up to $50 when you participate in their newly launched Learn and Earn, which serves up professionally vetted educational content tailored to your experience level.

Tornado costs $4.99 a month and includes up to 25 trades (but you can trade more for additional costs). And by taking part in their Learn and Earn program, you can easily offset your monthly subscription costs.

You might be thinking — hey! Those other investment apps don’t charge a fee. They might not outright, but they take a share of each trade you make, which can add up to thousands of dollars each year — making a Tornado subscription a steal when you add up what you could be paying for all of its features separately.

So if you’re ready to become a better investor, create your Tornado account now and start improving your net worth right away with your raffle winnings.

Kari Faber is a staff writer at The Penny Hoarder. 

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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