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.
Visit Site | Visit Site | |
Acorns | M1 Finance | |
---|---|---|
$20 Investment Bonus - | M1 Investment Account - Up to $500 Bonus - | |
Benefits and Features | ||
Savings | ||
Stock Trading | Part of service fee. No add-on trading fees. | |
Options Trading | ||
Annual Fee |
| |
Cryptocurrency Trading | ||
Minimum Deposit | ||
Checking | ||
Mutual Fund Trading | ||
Commission Free ETFs | A selection automatically chosen by Acorns | All U.S. listed ETFs |
Phone Support | Monday - Friday 9:30 am to 4 pm EST | |
Live Chat Support | ||
Email Support | ||
Human Advisors | ||
Robo Advisor | ||
Assets Under Management | ||
Tax Loss Harvesting | No, but offers tax minimization features | |
Goal Tracker | ||
Automatic Deposits | ||
Broker Assisted Trades | Acorns automatically invest and trade for you | |
Good For | Beginners; Passive investors; Those who have trouble saving/investing on their own | DIY investing with passive portfolio management |
Inactivity Fee | None, but you will keep paying the monthly fee | $50 (for accounts with less than $50 and no activity for 90+ days) |
Maintenance Fee | ||
Online Platform | ||
iPhone App | ||
Android App | ||
Banking | Included 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 | ||
Two-Factor Authentication | ||
Locations | ||
Online Community | ||
Seminars | ||
Virtual Trading | ||
Fractional Shares | ||
Taxable Accounts | ||
401k Plans | ||
IRA Accounts | ||
Roth IRA Accounts | ||
SEP IRA Accounts | ||
Trust Accounts | ||
529 Plans | ||
CreditDonkey® Reviews | ||
Annual Fee | ||
Minimum Deposit | ||
Mobile App | ||
Customer Service | ||
Ease of Use | ||
Research | ||
Pros & Cons | Pros:
| Pros:
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Bottom Line | Investment app that automatically invests your spare change. Good for young investors to get into the habit... | No-fee investing app that allows you to choose your own investments... |
Visit Site | Visit 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. |
$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 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 Value | Promotional 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.
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 Value | Promotional 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.
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
Is Acorns Legit or Safe
How to Make Money Using Acorns
Articles on M1 Finance
M1 Finance Review
Best M1 Finance Pie
M1 Finance Alternatives
Comments
- Olivia Tabor from Texas
I have both Acorns and Robinhood and even though they each serve a different purpose I don't have the freedom of stock purchase that I really like. I believe Acorns diversifies for my needs more effectively.
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