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M1 Finance vs Acorns

M1 Finance is a no-fee robo-advisor that allows you to choose your own investments. How does it compare to Acorns? Read our comparison chart below.

M1 Finance offers free automated investing with no commissions or account fees. Unlike other robo-advisors, 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.

While 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.

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

 M1 FinanceAcorns
 Visit SiteVisit Site
 

M1 Finance

Acorns

SPECIAL OFFER
Commission Free Stock Trading - Learn More

Read M1 Finance Review

SPECIAL OFFER
$10 Sign-Up Bonus - Learn More

Read Acorns Review

 

Benefits and Features

Savings 
No
Stock Trading
$0
Part of service fee. No add-on trading fees.
Options Trading
No
No
Annual Fee
None
  • $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
No
Minimum Deposit
$100
$0
Checking 
Yes
Mutual Fund Trading
No
No
Commission Free ETFsAll U.S. listed ETFsA selection automatically chosen by Acorns
Phone SupportMonday - Friday 9:30 am to 4 pm EST
Yes
Live Chat Support
No
No
Email Support
Yes
Yes
Human Advisors
No
No
Robo AdvisorHybrid; You choose your own investments and M1 trades & manages your portfolio for you
Yes
Assets Under Management
$4.5 Billion
$4.7 Billion
Tax Loss HarvestingNo, but offers tax minimization features
No
Goal Tracker
No
Yes
Automatic Deposits
Yes
Yes
Broker Assisted Trades
Included
Acorns automatically invest and trade for you
Good ForDIY investing with passive portfolio managementBeginners; Passive investors; Those who have trouble saving/investing on their own
Inactivity Fee$20 (for accounts with less than $20 and no activity for 90+ days)None, but you will keep paying the monthly fee
Maintenance Fee
$0
Monthly fee for the service
Online Platform
Yes
Yes
iPhone App
Yes (4.6 stars, 33.3k ratings)
Yes (4.7 stars, 760k ratings)
Android App
Yes (4.5 stars, 15.7k ratings)
Yes (4.3 stars, 156k ratings)
BankingAll users can open a M1 Spend account with free debit card. No monthly service fees and no balance requirements.Included in Acorns Personal ($3/mo). Free metal debit card, no minimum balance, no overdraft fees, and 55,000+ fee-free ATMs nationwide.
Mobile App
Check
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
Yes
Roth IRA Accounts
Yes
Yes
SEP IRA Accounts
Yes
Yes
Trust Accounts
Yes
No
529 Plans
No
No
 

CreditDonkey® Reviews

 M1 FinanceAcorns
Annual FeeStarStarStarStarStarStarStarStarEmpty StarEmpty Star
Minimum DepositStarStarStarStarStarStarStarStarStarStar
Customer ServiceStarStarStarHalf StarEmpty StarStarStarStarEmpty StarEmpty Star
Mobile AppStarStarStarStarHalf StarStarStarStarStarHalf Star
Ease of UseStarStarStarStarHalf StarStarStarStarStarStar
ResearchStarEmpty StarEmpty StarEmpty StarEmpty Star
Pros & ConsPros:
  • Choose your own investments
  • Can invest in individual stocks
  • No account fees
Cons:
  • No research
  • No human advisors
  • Can only trade once a day
Pros:
  • No minimum investment
  • Invest with spare change
  • Cash-back program
Cons:
  • Fees are high for small balances
  • No tax benefits
  • Limited investment options
Bottom LineNo-fee robo-advisor that allows you to choose your own investments... Read full reviewInvestment app that automatically invests your spare change. Good for young investors to get into the habit... 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.

M1 Finance: Pricing information from published website as of 02/28/2020

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

Which is Better: M1 Finance or Acorns?

Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing M1 Finance or Ally Invest.

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


Articles on M1 Finance

M1 Finance Review

M1 Finance lets you invest in stocks and ETFs without fees. But is it safe? Find out the pros and cons, and if it's legit.

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.

Comments

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