How to use the Custom format to force all values to show up as millions

Hello

I went to tools>>Options>>Axes Formatting to input a format so that I can format all the values in one column to show up as millons, i,e,  $1,200,000 -->  $1.2M or $600,00 --> $0.6M;  the short number format seems a bit restrictive, which only allows exponential factors that I cannot figure out how to put in the correct format.  For example 10^6, symbol M works for millions; but I could not figure out what to use for numbers that are less than 1 million, so I tried using Custom Formats.

The documentation says it would be similar to syntax in Excel.   So I tried using $#.###,,"M"; ($#.###,,"M"); and $0.#.###,,"M";($0.#.###,,"M") with no luck.   Has anyone else tried formatting and got this to work?

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