What does the inactivity fee mean for an M1 finance brokage account
My sister is investing $100 in the stock market but she wants to know if she will get fined if she has $19 or less in her M1 brokage account and has not bought or traded stocks in 90 + days. (This is after the $100 has been spent). #marketing #finance #business #accounting #financial-accounting #stocks
I personally would recommend against using M1 finance as there are a lot of miscellaneous fees involved and there are other platforms out there that can do what they're doing without the fees. I would recommend Robinhood or TOS (Think or Swim), they don't have fees involved. If your sister is looking to invest in individual stocks, these platforms have commission-free trading like M1 finance without the fees and the hassle. However investing in individual stocks or a bundle of stocks has some risk involved. If she wants to invest in the long term for a safer investment (not risk-free obviously, no stock is risk free), I would also recommend investing in mutual funds or ETFs with low expense ratios (I highly recommend Fidelity and Vanguard, look for stock tickers like VTSAX).
Also take a look at this stock VTI it's a buy and hold option with a 20% incremental increase since may 2020 $143 per share now @ $170.
( Best dollar cost average.)
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