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Acorns vs ZacksTrade

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 ZacksTrade? 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 ZacksTrade offers stock trades starting at $3 per trade, and options trading at $3 + $0.75 per contract. This discount broker is known for its robust research tools. There is an account minimum of $2,500, no maintenance fee, and no inactivity fee.

Compare Acorns with ZacksTrade, side-by-side.

 Acorns
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Acorns

ZacksTrade

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$10 Sign-Up Bonus - Learn More

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Benefits and Features

Savings
No
 
Stock TradingPart of service fee. No add-on trading fees.Greater than $1 per share: $0.01 per share, $1 minimum; Less than $1 per share: 1% of Trade Value, $1 minimum
Options Trading
No
$1 for First Contract + $0.75 per additional
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)
 
Cryptocurrency Trading
No
 
Minimum Deposit
$0
$2,500
Checking
Yes
 
Mutual Fund Trading
No
$27.50 (Greater than $1 per share)
Commission Free ETFsA selection automatically chosen by Acorns 
Phone Support
Yes
 
Live Chat Support
No
 
Email Support
Yes
 
Human Advisors
No
 
Robo Advisor
Yes
 
Assets Under Management
$4.7 Billion
 
Penny Stocks Less than $1 per share: 1% of the principle, $1 minimum.
Tax Loss Harvesting
No
 
Goal Tracker
Yes
 
Automatic Deposits
Yes
 
Broker Assisted TradesAcorns automatically invest and trade for you
No extra charge
Customer Service 9am - 6pm ET - Call (312) 265-9406 (local) or (888) 979-2257 (toll free)
Good ForBeginners; Passive investors; Those who have trouble saving/investing on their own 
Inactivity FeeNone, but you will keep paying the monthly fee
$0
Maintenance Fee
Monthly fee for the service
$0
Online Platform
Yes
 
iPhone App
Yes (4.7 stars, 760k ratings)
 
Android App
Yes (4.3 stars, 156k ratings)
 
BankingIncluded in Acorns Personal ($3/mo). Free metal debit card, no minimum balance, no overdraft fees, and 55,000+ fee-free ATMs nationwide.
No
Mobile App
Yes
Yes, iOS & Android
Desktop App 
ZacksTrader & ZacksTradePro
Two-Factor Authentication
Yes
 
Forex Trading 
No
Futures Trading 
No
Locations
No
No physical locations
Online Community
No
 
Seminars
No
 
Virtual Trading
No
Can request demo account pre-loaded with $1 Million in paper trading funds. Access for 90 days.
Fractional Shares
Yes
 
Taxable Accounts
Yes
 
401k Plans
No
 
IRA Accounts
Yes
 
Roth IRA Accounts
Yes
 
SEP IRA Accounts
Yes
 
Trust Accounts
No
 
529 Plans
No
 
 

CreditDonkey® Reviews

 Acorns
Annual FeeStarStarStarEmpty StarEmpty Star
Minimum DepositStarStarStarStarStar
Customer ServiceStarStarStarEmpty StarEmpty Star
Mobile AppStarStarStarStarHalf Star
Ease of UseStarStarStarStarStar
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
Bottom LineInvestment app that automatically invests your spare change. Good for young investors to get into the habit... Read full review
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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.

ZacksTrade: Pricing information from published website as of 07/10/2020

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.


Articles on Acorns

Acorn 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 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.

Comments

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