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Acorns vs Robinhood

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 Robinhood? 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 Robinhood offers $0 stock trades by cutting out physical offices and manual account management. Only basic stock trading can be performed on the mobile app. There is no minimum deposit or maintenance fee, though there is an optional paid premier customer tier starting at $5/month.

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

 AcornsRobinhood
 Visit SiteVisit Site
 

Acorns

Robinhood

SPECIAL OFFER
$10 Sign-Up Bonus - Learn More

Read Acorns Review

OFFER
Get a Free Stock (worth between $2.50 and $225) - Learn More

Read Robinhood Review

 

Benefits and Features

Savings
No
 
Stock TradingPart of service fee. No add-on trading fees.
$0
Options Trading
No
$0
Annual Fee
  • $3/mo for Acorns Personal (includes personal taxable account, IRA, and checking account)
  • $5/mo for Acorns Family (includes everything in Personal plus investment accounts for kids)
None
Cryptocurrency Trading
No
Check
Minimum Deposit
$0
$0
Checking
Yes
 
Mutual Fund Trading
No
No
Commission Free ETFsA selection automatically chosen by AcornsAll U.S. listed ETFs
Phone Support
Yes
24/7
Live Chat Support
No
No
Email Support
Yes
Yes
Human Advisors
No
No
Robo Advisor
Yes
No
Assets Under Management
$4.7 Billion
$80 Billion
Tax Loss Harvesting
No
No
Goal Tracker
Yes
No
Automatic Deposits
Yes
Yes
Broker Assisted TradesAcorns automatically invest and trade for you
Not available
Good ForBeginners; Passive investors; Those who have trouble saving/investing on their own
Beginners; Active traders
Inactivity FeeNone, but you will keep paying the monthly fee
$0
Maintenance Fee
Monthly fee for the service
$0
Online Platform
Yes
Yes
iPhone App
Yes (4.7 stars, 760k ratings)
Yes (4.2 stars, 4m ratings)
Android App
Yes (4.3 stars, 156k ratings)
Yes (3.8 stars, 453k ratings)
BankingIncluded in Acorns Personal ($3/mo). Free metal debit card, no minimum balance, no overdraft fees, and 55,000+ fee-free ATMs nationwide.Robinhood Cash Card (coming soon). No monthly fee, minimum balance, or overdraft fees; Ability to earn stock and crypto rewards.
Mobile App
Yes
Yes
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
No
Roth IRA Accounts
Yes
No
SEP IRA Accounts
Yes
No
Trust Accounts
No
No
529 Plans
No
No
 

CreditDonkey® Reviews

 AcornsRobinhood
Annual FeeStarStarStarEmpty StarEmpty Star
Minimum DepositStarStarStarStarStarStarStarStarStarStar
Customer ServiceStarStarStarEmpty StarEmpty StarStarStarStarStarEmpty Star
Mobile AppStarStarStarStarHalf StarStarStarStarStarEmpty Star
Ease of UseStarStarStarStarStarStarStarStarStarStar
Stock TradingStarStarStarStarStar
Options TradingStarStarStarStarEmpty Star
Commissions and FeesStarStarStarStarStar
ResearchStarEmpty StarEmpty StarEmpty StarEmpty Star
Pros & ConsPros:
  • No minimum investment
  • Invest with spare change
  • Cash-back program
Cons:
  • Fees are high for small balances
  • No tax benefits
  • Limited investment options
Pros:
  • Commission-free trades
  • No minimum
  • Extended trading hours
Cons:
  • No IRAs
  • Limited research
  • No mutual funds & bonds
Bottom LineInvestment app that automatically invests your spare change. Good for young investors to get into the habit... Read full reviewFree way to trade stocks with limited bells and whistles... 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.

Robinhood: Pricing information from published websites as of 04/18/2020.

Robinhood

Commission-Free Trades

Trade stocks, funds, options, and cryptocurrencies

Robinhood

Commission-Free Options Investing

Robinhood offers commission-free and no monthly fee options trading.

Which is Better: Acorns or Robinhood?

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

In short: Robinhood's customer service is noteworthy.


Articles on Acorns

Acorns App Review

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

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 Robinhood

Robinhood

Robinhood lets you trade stocks commission-free and has no account minimums. Is it safe? Are there hidden fees? Read on for the pros and cons.

Buy Bitcoin on Robinhood or Coinbase Pro

Robinhood and Coinbase Pro are two of the biggest names in retail investing and crypto trading. But which is best for buying Bitcoin?

Robinhood Alternatives

When it comes to buying stocks online, many think of Robinhood first. But how do other apps compare? Is there a better commission fee-free app?

Robinhood App

Thinking about trading on Robinhood? Good job on getting started investing! But first, there are 7 things you need to know before investing on Robinhood.

Comments

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