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slut
slut (@guest_1619221)
May 16, 2023 21:22

I guess I’ll start including the math here in case it’s helpful for anyone:

M1 Brokerage $100 $15,000 0.67%
M1 Brokerage $200 $30,000 0.67%
M1 Brokerage $500 $60,000 0.83%
M1 Brokerage $1,500 $300,000 0.50%

this is a bad offer

Wil
Wil (@guest_1610552)
May 2, 2023 18:50

Anyone closed the M1 account recently? I tried to transfer out all the remaining balance, and it says the account will be liquidated. Is this normal? Will I be charged a fee?

007
007 (@guest_1610489)
May 2, 2023 17:30

So apparently their minimum balance is now $50 to avoid a fee.

Klay
Klay (@guest_1608089)
April 28, 2023 18:28

So I guess we won’t know whether the promos will actually stack and payout until next year February??

raj
raj (@guest_1607242)
April 27, 2023 14:16

https://help.m1.com/hc/en-us/articles/15046508215059-Promotions-Referrals-FAQ

They actually have 3 promos going on right now. Fine print suggests they stack (seed fund is for new users only, and only in a post-tax account. The other two could be done with an IRA).

For example by bringing in 300k you could receive a bonus of $3500, if you structure it right.

Kyle
Kyle (@guest_1614582)
May 8, 2023 22:00

Can you explain what you mean by structure it right? How would I go about getting a $3,500 by bringing in 300k

Erik
Erik (@guest_1606755)
April 26, 2023 18:33

Note that you need to keep the funds in the account until the Payout Date on February 17, 2024 !

“Reallocation of any Total Recurring Deposit prior to the Payout Date either externally or internally to any other M1 services (e.g., M1 Spend) will disqualify you from the Recurring Deposit Promotion.”

p.s. P2 got the E-mail for this promotion, but not myself.

gg
gg (@guest_1606694)
April 26, 2023 16:36

4. Promotional Credit (see table below) will be paid to eligible customers on February 17, 2024.

raj
raj (@guest_1606672)
April 26, 2023 16:04

so it’s basically a brokerage bonus but you have to ACH it in chunks, rather than ACAT or something. So better to do with an IRA to avoid realizing gains… kind of a hassle but I might go for the $500 tier

JThelen
JThelen (@guest_1606645)
April 26, 2023 15:26

Is this really for everyone? In the terms it says ‘targeted customers’ which makes me leery to try for the bonus if I didn’t get an offer.

Mark
Mark (@guest_1606625)
April 26, 2023 14:38

Looks like M1 still wants to deposit your bonuses into a taxable account, even if you move over an IRA. This definitely isn’t your standard brokerage. A regular brokerage will put your bonus into the same account that you move in.

007
007 (@guest_1606650)
April 26, 2023 15:30

Firstrade did same fwiw