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Robinhood vs Acorns

Robinhood is a free way to trade stocks with limited bells and whistles. How does it compare to Acorns? Read our comparison chart below.

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.

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 $1/month for accounts under $5,000. There is no minimum to open.

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

 RobinhoodAcorns
 Visit SiteVisit Site
 

Robinhood

Acorns

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

Read Robinhood Review

SPECIAL OFFER
$10 Sign-Up Bonus - Learn More

Read Acorns Review

 

Benefits and Features

Stock Trading
$0
Part of service fee. No add-on trading fees.
Options Trading
$0
No
Annual FeeAll trades are commission-free. No platform fees.$1/mo for Acorns Lite (taxable account only)
$3/mo for Acorns Personal (includes IRA and checking account)
$5/mo for Acorns Family (includes investment accounts for kids)
Minimum Deposit
$0
$0
Mutual Fund Trading
No
No
Commission Free ETFsAll U.S. listed ETFs 
Phone Support
No
Yes
Live Chat Support
No
No
Email Support
Yes
Yes
Human Advisors
No
No
Robo Advisor
No
 
Assets Under Management 
$1.2 Billion
Tax Loss Harvesting
No
No
Goal Tracker
No
Yes
Automatic Deposits
Yes
Yes
Broker Assisted Trades
Not available
 
Good For
Beginners; Active traders
 
Inactivity Fee
$0
 
Maintenance Fee
$0
 
Online Platform
Yes
Yes
iPhone App
Yes (4 stars, 3.2m ratings)
Yes
Android App
Yes (1.4 stars, 360k ratings)
Yes
BankingNo service fees for Robinhood Cash Management account. Free debit card with no in-network ATM fees or foreign transaction fees$3/mo for Acorns + Acorns Later + Acorns Spend checking. Free debit card, no minimum balance, no overdraft fees, and unlimited free or fee-reimbursed ATMs nationwide.
Mobile App
Yes
Yes
Two-Factor Authentication
Yes
 
Locations
No
 
Online Community
No
 
Seminars
No
 
Virtual Trading
No
 
Single Stock Diversification 
No
Fractional Shares
Yes
Yes
Taxable Accounts
Yes
Yes
401k Plans
No
No
IRA Accounts
No
Yes
Roth IRA Accounts
No
Yes
SEP IRA Accounts
No
Yes
Trust Accounts
No
No
529 Plans
No
No
 

CreditDonkey® Reviews

 RobinhoodAcorns
Stock TradingStarStarStarStarStar
Options TradingStarStarStarStarEmpty Star
Mobile AppStarStarStarStarEmpty Star
Commissions and FeesStarStarStarStarStar
Ease of UseStarStarStarStarStar
ResearchStarEmpty StarEmpty StarEmpty StarEmpty Star
Annual FeeStarStarStarEmpty StarEmpty Star
Minimum DepositStarStarStarStarStar
Customer ServiceStarStarStarEmpty StarEmpty Star
Pros & ConsPros:
  • Commission-free trades
  • No minimum
  • Extended trading hours
Cons:
  • No IRAs
  • Limited research
  • No mutual funds & bonds
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 LineFree way to trade stocks with limited bells and whistles... 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.

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

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

Which is Better: Robinhood or Acorns?

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


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.

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.

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.

Comments

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