M1 Finance vs Acorns
M1 Finance is a commission-free investing app that allows you to choose your own investments. How does it compare to Acorns? Read our comparison chart below.
M1 Finance offers automated investing with no commissions or trading 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.
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.
Learn More | Visit Site | |
M1 Finance | Acorns | |
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Commission Free Stock Trading - | $20 Investment Bonus - | |
Benefits and Features | ||
Savings | ||
Stock Trading | Part of service fee. No add-on trading fees. | |
Options Trading | ||
Annual Fee | A $3 monthly platform fee will apply to clients with less than $10,000 in M1 assets or without an active M1 Personal Loan. |
|
Cryptocurrency Trading | ||
Minimum Deposit | $100 ($500 for IRAs, $5,000 for Trust Account) | |
Checking | ||
Mutual Fund Trading | ||
Commission Free ETFs | All U.S. listed ETFs | A selection automatically chosen by Acorns |
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 | DIY investing with passive portfolio management | Beginners; Passive investors; Those who have trouble saving/investing on their own |
Inactivity Fee | $50 (for accounts with $50 or less and no trading or deposit activity for 90+ days) | None, but you will keep paying the monthly fee |
Maintenance Fee | $3 monthly platform fee for accounts with less than $10,000 in M1 assets, or without an active M1 Personal Loan | |
Online Platform | ||
iPhone App | ||
Android App | ||
Banking | Included in Acorns Bronze ($3/mo). Free metal debit card, no minimum balance, no overdraft fees, and 55,000+ fee-free ATMs nationwide. | |
Mobile App | ||
Two-Factor Authentication | ||
Locations | ||
Online Community | ||
Seminars | ||
Trading Platform | ||
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 | Commission-free investing app that allows you to choose your own investments... | Investment app that automatically invests your spare change. Good for young investors to get into the habit... |
Learn More | 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. M1 Finance: Pricing information from published website as of 12/26/2023. Acorns: Pricing information from published website as of 11/29/2024. |
$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
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 Robinhood.
In short: M1 Finance's annual fee is excellent.
Articles on M1 Finance
M1 Finance Review
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Articles on Acorns
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Is Acorns Legit or Safe
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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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