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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 $3/month for accounts. 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

Savings 
No
Stock Trading
$0
Part of service fee. No add-on trading fees.
Options Trading
$0
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
Check
No
Minimum Deposit
$0
$0
Checking 
Yes
Mutual Fund Trading
No
No
Commission Free ETFsAll U.S. listed ETFsA selection automatically chosen by Acorns
Phone Support
24/7
Yes
Live Chat Support
No
No
Email Support
Yes
Yes
Human Advisors
No
No
Robo Advisor
No
Yes
Assets Under Management
$80 Billion
$4.7 Billion
Tax Loss Harvesting
No
No
Goal Tracker
No
Yes
Automatic Deposits
Yes
Yes
Broker Assisted Trades
Not available
Acorns automatically invest and trade for you
Good For
Beginners; Active traders
Beginners; Passive investors; Those who have trouble saving/investing on their own
Inactivity Fee
$0
None, but you will keep paying the monthly fee
Maintenance Fee
$0
Monthly fee for the service
Online Platform
Yes
Yes
iPhone App
Yes (4.2 stars, 4m ratings)
Yes (4.7 stars, 760k ratings)
Android App
Yes (3.8 stars, 453k ratings)
Yes (4.3 stars, 156k ratings)
BankingRobinhood Cash Card (coming soon). No monthly fee, minimum balance, or overdraft fees; Ability to earn stock and crypto rewards.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
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
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
Minimum DepositStarStarStarStarStarStarStarStarStarStar
Customer ServiceStarStarStarStarEmpty StarStarStarStarEmpty StarEmpty Star
Mobile AppStarStarStarStarEmpty StarStarStarStarStarHalf Star
Commissions and FeesStarStarStarStarStar
Ease of UseStarStarStarStarStarStarStarStarStarStar
ResearchStarEmpty StarEmpty StarEmpty StarEmpty Star
Annual FeeStarStarStarEmpty 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.

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: 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.

In short: Robinhood's customer service is noteworthy.


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? Review these popular Robinhood alternatives.

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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