At this time, only US Citizens and Permanent Residents (Green Card holders) over the age of 18 with a current US residential address and phone number can apply to open an M1 Account.
Accounts that M1 Supports:
Every M1 user must first open an Individual Taxable account before opening any subsequent account. M1 supports Individual accounts, Joint accounts, IRAs (Traditional, Roth, SEP), and Trust accounts.
For more information about the types of accounts M1 supports, click here.
When will my account be open?
During normal business hours, most accounts will be opened almost immediately. If you are initiating your account overnight or on the weekend, your account should be opened the next business day.
At times, some accounts are flagged for manual review. These accounts can take up to five business days to open.
Why does my account need manual verification?
Some new accounts are ‘rejected’ because they require additional documentation for verification. Users are often ‘rejected’ because of a security freeze, a typo with their biographic information, or they are between the age of 18-23 and do not have a credit history.
Why Do I Need to Disclose My Personal Information?
As a regulated broker-dealer, M1 Finance LLC (“M1,” “we,” “us”) is required to review applications for any number of mandated pieces of information, including those related to Know Your Customer and Customer Identification Program requirements. These regulations are in place to help prevent money laundering and the financing of terrorist activities.