How do trade windows work? 

 

What is a trade window? 

A trade window is the window of time each day when we execute trades for clients.  

Why do we have trade windows? 

Two main reasons: 
 
1. They keep costs low and that keeps M1 Finance free to use, with no commissions or mark-ups on trades.

2. M1 is a long-term investment platform, not a trading platform. We prioritize your long-term financial growth and focus on building features that enable smart financial decisions.

  

Morning trade window 

  • All  M1 Finance customers have access to the morning trade window. 
  • M1's morning trade window begins at 9:30 am ET every day the NYSE market is open. 
  • The trade window concludes when all orders have been completed.   

Afternoon trade window 

  • Exclusively for M1 Plus members (to participate in both trade windows, you must have $25,000 or more in equity.) 
  • Begins at 3:00 pm ET 

 

On trading days 

Changes to your portfolio made before 9:30 am ET usually complete during M1's morning trade window. You will see updates after the window closes.  

On non-trading days 

Changes to your portfolio will complete during M1’s morning trade window on the next day the NYSE market is open.  

 

Why we created the afternoon trade window 

  • Increased control over your portfolio. 
  • Invest last-minute deposits before the market closes. 
  • Take action that aligns with your investing strategy when the market moves. 
  • Provide more time for customers in the western U.S. 

Afternoon trade window eligibility  

The afternoon trade window is exclusively available to Plus members 

Who can use both windows? 

M1 Plus members with equity of $25,000 or more in a single account 

Who can use either trade window? 

M1 Plus members with an equity of less than $25,000 in a single account. 

Who can only use the morning window? 

All standard M1 Finance accounts. 

Important to remember: The $25,000 rule is based on a per-account level, not how much you have in aggregate on the M1 Platform.  

For example:  

You have three Invest accounts with the following amounts. Below is their eligibility to trade in both the morning and afternoon trade window. 

Account Type  Equity  Trade Two Times Per Day Eligibility 
Roth IRA  $15,000  No
Individual  $28,000  Yes
Traditional IRA  $147,000  Yes

  

Even though two out of the three accounts are above the $25,000 limit – this client still won’t be able to trade during the morning and afternoon window with their Roth IRA, though this Plus member can trade during the morning or the afternoon window. 

Why these restrictions?  

These restrictions exist so our clients do not inadvertently violate FINRA’s Pattern Day Trading rules.  

  

How deposits work with the afternoon trade window 

M1 Finance Basic vs. Plus trade windows

Note: If you have less than $25,000 and traded during the morning trade window, you will not trade until the following day. 

 

When is my next trade window? 

You can easily find information on your next trade window inside our platform.  

On mobile, swipe up on your drawer at the bottom of the Portfolio tab to see your eligibility and when your orders will go through.  

M1 Finance mobile account screen portfolioM1 Finance mobile account screen next trade window information

On the website, you can find this information directly below your Pie. 

M1 Finance web account screen trade window information in invest tab

 

**All examples above are for informational purposes and should not be considered an offer to buy or sell certain securities. M1 does not provide investment advice.

 

Please note that all customer orders are considered "not held". This provides M1 with price and time discretion in handling customer orders. Please click here for more details. 

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