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Acorns vs M1 Finance

Acorns is an investment app that automatically invests your spare change. Good for young investors to get into the habit. How does it compare to M1 Finance? Read our comparison chart below.

Acorns is geared towards young investors who have trouble saving. This investment app automatically rounds up and invests your spare change whenever you make a purchase. The service fee starts at $3/month for accounts. There is no minimum to open.

While M1 Finance offers free automated investing with no commissions or account fees. M1 lets you select your own investments and their automation will manage it for you. This is great for investors who want a say. The downside is that there are no human advisors. The minimum to start is just $100.

Compare Acorns with M1 Finance, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 AcornsM1 Finance
 Visit SiteVisit Site
 

Acorns

M1 Finance

SPECIAL OFFER
$20 Investment Bonus - Learn More

Read Acorns Review

SPECIAL OFFER
M1 Investment Account - Up to $500 Bonus - Learn More

Read M1 Finance Review

 

Benefits and Features

Savings
No
 
Stock TradingPart of service fee. No add-on trading fees.
$0
Options Trading
No
No
Annual Fee
  • Acorns Personal ($3/mo) - includes personal taxable account, IRA, and checking account
  • Acorns Personal Plus ($5/mo) - includes everything in Personal, emergency fund, and 25% match on rewards
  • Acorns Premium ($9/mo) - includes everything in Personal Plus, investment accounts for kids, 50% match on rewards, custom portfolio, Trust & Will, $10K Life Insurance, and free GoHenry account
None
Cryptocurrency Trading
No
Yes
Minimum Deposit
$0
$100
Checking
Yes
 
Mutual Fund Trading
No
No
Commission Free ETFsA selection automatically chosen by AcornsAll U.S. listed ETFs
Phone Support
Yes
Monday - Friday 9:30 am to 4 pm EST
Live Chat Support
No
No
Email Support
Yes
Yes
Human Advisors
No
No
Robo Advisor
Yes
 
Assets Under Management
$4.7 Billion
$4.5 Billion
Tax Loss Harvesting
No
No, but offers tax minimization features
Goal Tracker
Yes
No
Automatic Deposits
Yes
Yes
Broker Assisted TradesAcorns automatically invest and trade for you
Included
Good ForBeginners; Passive investors; Those who have trouble saving/investing on their ownDIY investing with passive portfolio management
Inactivity FeeNone, but you will keep paying the monthly fee$50 (for accounts with less than $50 and no activity for 90+ days)
Maintenance Fee
Monthly fee for the service
$0
Online Platform
Yes
Yes
iPhone App
Yes (4.7 stars, 760k ratings)
Yes (4.6 stars, 33.3k ratings)
Android App
Yes (4.3 stars, 156k ratings)
Yes (4.5 stars, 15.7k ratings)
BankingIncluded in Acorns Personal ($3/mo). Free metal debit card, no minimum balance, no overdraft fees, and 55,000+ fee-free ATMs nationwide.All users can open a M1 Spend account with free debit card. No monthly service fees and no balance requirements.
Mobile App
Yes
Check
Two-Factor Authentication
Yes
Yes
Locations
No
No
Online Community
No
No
Seminars
No
No
Virtual Trading
No
No
Fractional Shares
Yes
Yes
Taxable Accounts
Yes
Yes
401k Plans
No
No
IRA Accounts
Yes
Yes
Roth IRA Accounts
Yes
Yes
SEP IRA Accounts
Yes
Yes
Trust Accounts
No
Yes
529 Plans
No
No
 

CreditDonkey® Reviews

 AcornsM1 Finance
Annual FeeStarStarStarEmpty StarEmpty StarStarStarStarStarStar
Minimum DepositStarStarStarStarStarStarStarStarStarStar
Mobile AppStarStarStarStarHalf StarStarStarStarStarHalf Star
Customer ServiceStarStarStarEmpty StarEmpty StarStarStarStarHalf StarEmpty Star
Ease of UseStarStarStarStarStarStarStarStarStarHalf Star
ResearchStarEmpty StarEmpty StarEmpty StarEmpty Star
Pros & ConsPros:
  • No minimum to open account
  • Invest with spare change
  • Cash-back program
Cons:
  • Fees are high for small balances
  • No tax benefits
  • Limited investment options
Pros:
  • Choose your own investments
  • Can invest in individual stocks
  • No account fees
Cons:
  • No research
  • No human advisors
  • Can only trade once a day
Bottom LineInvestment app that automatically invests your spare change. Good for young investors to get into the habit... Read full reviewNo-fee investing app that allows you to choose your own investments... Read full review
 Visit SiteVisit Site

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Acorns: Pricing information from published website as of 09/28/2020.

M1 Finance: Pricing information from published website as of 12/26/2023.

Acorns

$20 Investment Bonus

  • Open an Acorns account (new users only)
  • Set up the Recurring Investments feature
  • Have your first investment be made successfully via the Recurring Investments feature
M1 Finance

M1 Investment Account - Up to $500 Bonus

Open a new M1 investment account. Deposit $10,000 or more into the account within 14 calendar days of account opening. Promotional credit will depend on the deposited value made into the account.

Deposited ValuePromotional Credit
$10,000 - $29,999.99$75
$30,000 - $49,999.99$150
$50,000 - $99,999.99$250
$100,000+$500

This offer is only for customers who have never registered for an M1 user account.

Expires 12/31/2024
M1 Finance

Transfer and Earn Up to $20,000

Complete an Automated Customer Account Transfer Service (ACATS) of at least $100,000 in aggregate and earn up to $20,000. Promotional credit will depend on the amount transferred to the account.

Transfer Account ValuePromotional Credit
$100,000 - $249,999$250
$250,000 - $499,999$1,000
$500,000 - $999,999$2,000
$1,000,000 - $1,999,999$4,000
$2,000,000 - $4,999,999$10,000
$5,000,000 - $6,999,999$15,000
$7,000,000+$20,000

This offer is valid for new and existing M1 customers. Terms and conditions apply.

Expires Tomorrow
M1 Finance

Commission Free Stock Trading

M1 Finance allows investors the choice of ETFs and stocks. M1 charges no management fees or commission.

Which is Better: Acorns or M1 Finance?

Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing Acorns or Robinhood.

In short: M1 Finance's annual fee is excellent.


Articles on Acorns

Acorns

Acorns automatically invests your spare change. But can it help make you money? Find out if this app is safe and legit.

Is Acorns Legit or Safe

Acorns lets you invest spare change from every purchase. But is it safe to use? Learn just how secure the micro-investing app is.

How to Make Money Using Acorns

Acorns "rounds up" everyday purchases and invests it for you. What's the catch? Read this review to find out how to make money using the app.

Articles on M1 Finance

M1 Finance Review

Is M1 Finance legitimate and safe? Find out the pros, cons, fees, and more. An essential read for beginners interested in M1 Finance.

Best M1 Finance Pie

M1 Finance is a fee-free investment app offering pre-selected portfolios called "pies." What's the best M1 Finance Pie? Find out.

M1 Finance Alternatives

M1 Finance is a popular app for fee-free investing. But is there a better option for you? Find out in this detailed guide to M1 Finance alternatives.

Comments

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