Apps Like Acorns – Greatest Pockets Hacks

SoFi Make investments

Greatest For: Free Managed Portfolios

Automated Portfolios: Sure | Spherical-ups: Sure | Minimal Funding: $1

SoFi Make investments provides free automated investing and self-managed accounts. The minimal funding is $1 for SoFi Automated Investing and $5 for Lively Investing accounts. Each companies supply taxable brokerage accounts and IRAs.

You received’t pay any advisory charges or buying and selling commissions on the automated portfolios, which is considerably uncommon. With that mentioned, paid robo-advisors usually tend to supply tax-loss harvesting and in-depth monetary planning instruments that turn into extra helpful as your portfolio worth will increase.

Investing Options

Like Acorns, you will decide your danger tolerance and deliberate withdrawal date to get a advisable asset allocation. This robo-advisor will spend money on diversified inventory and bond index ETFs with an aggressive, average, or conservative danger technique. Your portfolio robotically rebalances.

The automated portfolios don’t incur service charges like most robo-advisors, however you miss out on some premium options like spending round-ups and tax-loss harvesting. You may nonetheless schedule recurring investments and reinvest your dividend revenue.

You too can open an Lively Investing account to purchase particular person shares, ETFs, and commerce choices. There aren’t any buying and selling charges and you should buy fractional shares of any inventory or ETF with a $5 minimal funding.

Banking Options

Identical to Acorns provides a web-based checking account, you may additionally take into account a SoFi Checking and Financial savings account. This free banking account earns a aggressive rate of interest, helps limitless transactions, and permits you to spherical up linked debit card purchases which can be deposited right into a Financial savings Vault.  

If you happen to’re a loyalist, look into the SoFi Member Rewards program. You may earn factors which you can convert into money with a banking or lively investing account. Members may get pleasure from complimentary profession counseling and monetary planning periods. 

Pricing

SoFi Make investments doesn’t cost any month-to-month service charges or buying and selling commissions. There are a number of SoFi promotions to scoop up bonus money by opening new investing and banking accounts.

SoFi Make investments vs. Acorns

Each SoFi Make investments and Acorns supply managed ETF portfolios with automated rebalancing, however Acorns prices a month-to-month price between $3 and $9. SoFi Make investments has a $1 minimal funding, whereas Acorns received’t make investments till your money steadiness reaches $5.

SoFi permits you to handle your portfolio and provides extra funding choices. Nonetheless, Acorns is healthier in case you have bother discovering further money to take a position every month and are glad to spend money on ETFs.

Whereas SoFi stopped providing crypto buying and selling on the finish of 2023, the app provides choose various investments, mutual funds, and cash market funds for extra diversification alternatives. Additional, you possibly can nonetheless get publicity to cryptocurrency by means of Bitcoin-linked ETFs (just like Acorns crypto funding choices).

Go to Sofi Make investments

Stash Make investments

Greatest For: Greatest for Spending Spherical-ups

Automated Portfolios: Sure | Spherical-ups: Sure | Minimal Funding: $5

On many fronts, Stash Make investments is essentially the most comparable Acorns various. You may make investments your spare change through the use of Stash’s Inventory-Again Card. This card may earn as much as 3% again in fractional shares of inventory. It is like a cash-back card, however you earn inventory as a substitute of money.

With Stash, additionally, you will get an automatic portfolio that’s designed primarily based in your objectives and danger tolerance. Additional, you could have the choice of constructing a self-managed inventory portfolio.

Investing Options

All customers have entry to self-directed or managed funding accounts.

The automated account holds inventory and bond index funds, and the allocation will depend on your danger profile. It can robotically rebalance as funds are added to or faraway from the account. The minimal funding per transaction is $5.

Within the self-directed account you should buy particular person shares and ETFs. You establish the asset allocation and the rebalancing of the account. There may be limitless buying and selling by satisfying the $5 minimal funding. The app has a primary inventory portfolio analyzer to supply insights to enhance asset allocation and reduce danger.

Each Stash and Acorns have quite a lot of content material for new traders to study funding decisions and the right way to make investments. On Stash, these quick articles and movies are typically extra in-depth than different micro-investing apps.

Banking Options

Members have entry to an FDIC-insured on-line banking account that lets customers obtain direct deposits as much as two days sooner. If you happen to make the most of this perk, you will get the Inventory-Again debit card, which lets you doubtlessly acquire investing rewards.

The Stash Inventory-Again Debit Mastercard Stash+ members ($9/month) earn as much as 3% again in inventory on purchases. For instance, you obtain partial McDonald’s inventory shares if you go to the quick meals chain or Starbucks inventory when grabbing a espresso. You will receive an index ETF share if you store at retailers that are not publicly traded, like your native bakery. 

This rewards debit card additionally helps round-ups by investing your spare change. The value distinction debits out of your Stash banking account. This technique is an easy solution to robotically make investments every time you store or pay payments to plan for long-term objectives.

Pricing

There isn’t a free plan and customers should select from two paid choices:

• Stash Development ($3/month): One Good Portfolio, one Private Portfolio, and debit card (with out Inventory-Again buy rewards)
• Stash Plus ($9/month): One Good Portfolio, one Private Portfolio, two custodial investing accounts, earn 1% again on Inventory-Again debit purchases, and Stash+ market insights.

Each plans supply the primary month free so you possibly can attempt it out.

Think about the premium plan if you wish to open funding accounts for 2 youngsters or the flexibility to earn inventory on debit purchases. In any other case, the entry-level plan is nice when you merely need a private and managed brokerage or retirement account.

Stash Make investments vs. Acorns

Think about Stash Make investments for investing in particular person shares alongside a managed portfolio. Premium Stash+ customers may additionally admire incomes as much as 1% again in inventory rewards on qualifying debit purchases.

Whereas each investing apps have many overlapping traits, Acorns tends to have extra automated funding methods. Fingers-off traders can add socially acutely aware ESG portfolios and Bitcoin-linked ETFs, whereas Stash portfolios sometimes persist with conventional index ETFs primarily based on the corporate’s market cap. Acorns additionally provides three plans which offer yet another choice to get your required banking and investing options at an inexpensive month-to-month worth.

Learn our Stash Make investments evaluation for extra.

Go to Stash Make investments

M1 Finance

Greatest For: Personalized Portfolios

Automated Investing: Sure | Spherical-ups: No | Minimal Funding: $100

If you’re solely in micro-investing, then M1 may not be your best option, because it requires $100 to begin and $25 minimal contributions. It does not supply a round-up function, which is a core function of Acorns.

Nonetheless, M1 Finance allows you to incorporate all kinds of expert-made mannequin portfolios (referred to as “knowledgeable pies”) together with particular person shares and ETFs. You self-manage the portfolio by including funding choices and assigning a goal proportion. With every new funding, the hybrid robo-advisor buys shares to maintain every place at its goal allocation.

Investing Options

Your portfolio at M1 known as a “pie” and you can also make your personal pie, or select from quite a lot of pre-made pies. It doesn’t supply fully-managed portfolios, so you will need to decide your danger tolerance and discover mannequin portfolios that match your goals. This requires just a little extra effort, however there are a lot of funding choices and the platform is user-friendly.

The mannequin portfolios present publicity to quite a lot of funding methods, together with:

• Normal investing primarily based on danger tolerance (these funds are just like the usual Acorns index ETF baskets)
• Retirement goal dates
• Socially accountable investing
• Shares and bond ETFs (i.e., 80% shares/20% bonds, 60/40, 30/70, and so on.)
• Revenue-focused

So, when you’re comfy managing your personal portfolio, you possibly can select one of many Professional Pie mannequin portfolios with an asset allocation just like what Acorns recommends — or construct your personal. Then, you possibly can have an analogous investing technique to your portfolio at Acorns, however you keep away from the month-to-month price.

However after all, you need not do what Acorns says, you may as well add over 6,000 particular person shares or ETFs to personalize your portfolio. Premium M1 Plus members can construct a cryptocurrency portfolio that’s separate from their investing pie. Free members can solely spend money on crypto by means of crypto-linked ETFs and shares.

M1 rebalances your portfolio if you purchases shares of your pie. The cash you contribute is used to buys belongings which can be under their goal asset allocation proportion. Nonetheless, M1 received’t promote overallocated shares until you request a guide rebalance. Whereas it’s not a true-to-form automated rebalancing, promoting much less continuously creates fewer tax-reportable occasions that may be a ache to incorporate in your revenue tax return precisely.

Creating your portfolio is free, however you will need to deposit a minimum of $100 into taxable accounts and $500 for retirement accounts to make your first commerce. After that, the minimal funding is $25 though the investing app spreads these funds throughout your portfolio by buying fractional shares with a minimal $1 order dimension per place. 

Banking Options

This platform additionally provides margin loans and a co-brand rewards bank card. These options may help members with sizable portfolio values handle their funds with enhanced flexibility.

M1 Finance additionally provides a high-yield financial savings account and Plus members can earn essentially the most aggressive rate of interest.

Pricing

The first M1 platform is free and is enough for many traders. You’ve gotten entry to all of the inventory and ETF funding choices. All trades execute in the course of the morning buying and selling window which opens at 9:30 a.m. Jap.

An elective M1 Plus membership prices $3 month-to-month and comes with a three-month free trial. If you happen to resolve to improve you will get entry these further investing and banking perks:

• Afternoon buying and selling window (for accounts with $25,000 or extra)
• On-demand crypto buying and selling (Bitcoin, Ethereum, and Litecoin)
• Custodial accounts
• Discounted margin mortgage rates of interest
• As much as 10% money again at choose retailers the Proprietor’s Rewards Card bank card and 1.5% money again on every little thing else

M1 Finance vs. Acorns

M1 Finance is the clear winner if you wish to self-manage your portfolio or dabble in particular person shares and ETFs. As your funding expertise will increase, this flexibility could make M1 a greater long-term investing possibility than Acorns.

A number of risk-based and ESG-friendly mannequin portfolios can simply substitute for Acorns premade portfolios that allow you to make investments without spending a dime. You too can get direct entry to heavily-traded crypto tokens as a substitute of oblique publicity by means of cryptocurrency ETFs.

Acorns stays higher than M1 if you need a totally automated expertise, as it’s going to suggest an asset allocation. It can additionally promote shares as essential to rebalance. Lastly, it’s simpler to spherical up purchases or earn money again to seek out extra money to take a position.  

Learn our M1 Finance evaluation for extra.

Go to M1 Finance

Betterment

Greatest For: Tax Optimization

Automated Investing: Sure | Spherical-ups: No | Minimal Funding: $10

Betterment will stroll you thru an evaluation to find out your asset allocation, which will probably be primarily based in your danger tolerance and objectives. The platform will then handle your account in your behalf to take care of your goal asset allocation, there is no such thing as a choice to self handle.

Additionally, there is no such thing as a minimal deposit requirement to open an account however the minimal contribution quantity is $10 if you do begin investing. It doesn’t supply a round-up function.

Betterment provides tax-efficient funding portfolios and monetary advisor entry. Acorns provides neither function, past the flexibility to take a position by means of a conventional or Roth IRA.

Investing Options

It’s free to affix and full a primary questionnaire to find out your danger tolerance and advisable portfolio allocation of index ETFs. The minimal funding is $10 and it’ll purchase fractional shares upon account funding.

Whilst you’re restricted to ETFs, there are a number of portfolio methods to select from:

• Core: Traditional inventory and bond index investing primarily based in your danger tolerance
• Socially Accountable: Broad affect, local weather affect, and social affect portfolios
• Progressive Tech: Funds specializing in high-growth potential firms within the tech sector
• Goldman Sachs Good Beta: ETFs that spend money on firms with the potential to outperform benchmark index funds however can carry extra volatility
• Worth Tilt: Home and worldwide index ETFs that emphasize publicity to undervalued firms. It practices worth investing as a substitute of progress investing.

Betterment’s distinctive function is tax effeciency. The service automates these tax-efficient investing methods:

• Tax loss harvesting: Promote securities for a loss to scale back strange revenue by as much as $3,000 per yr.
• Tax coordination: Locations tax-efficient investments in taxable brokerage accounts and the high-tax belongings in a conventional IRA or Roth IRA. 
• Prioritized promoting: The app strives to promote holdings with the bottom tax burden firstduring rebalancing. It can forecast the potential tax implications earlier than promoting or withdrawing. It will probably additionally help with charitable donations.  

You might also benefit from the ease of hiring a monetary advisor by means of the platform. One-time recommendation packages price between $299 and $399, whereas Betterment Premium members get pleasure from on-demand periods.

Banking Options

You may open two banking accounts at no further price to simply entry direct deposits, pay payments, and fund your funding portfolios. Doubtlessly shocking, you possibly can open these accounts even when you do not wish to make investments with Betterment.

• Betterment Money Reserve: This high-yield money administration account helps limitless withdrawals, setting a number of financial savings objectives, and supplies as much as $2 million in FDIC insurance coverage advantages (as much as $4 million for joint accounts). 
• Betterment Checking: This free checking account earns debit card rewards with choose retailers and supplies as much as $250,000 in FDIC protection. It additionally waives all ATM charges and international transaction charges. 

Be taught extra with our Betterment Checking and Financial savings evaluation.

Pricing

All customers pay a price to take a position by means of Betterment, however its banking merchandise are free.

The service charges fluctuate by account sort:

• Investing accounts: $4 month-to-month price that switches to a 0.25% annual price in case you have a minimum of $250 in recurring month-to-month deposits or have a minimal $20,000 mixed steadiness throughout all Betterment account sorts.
• Premium: Memberships require a $100,000 investing steadiness or larger by charging a further 0.15% annual price for a 0.40% complete annual advisory price. This membership tier consists of limitless monetary steering from a CFP. 
• Crypto: 1% annual price plus buying and selling charges by means of Gemini
• Money Reserve: None
• Checking: None

Deposits in your Money Reserve and Checking accounts may help you turn to the 0.25% advisory price sooner to your investing account.  

Betterment vs. Acorns

Betterment provides extra automated funding instruments like tax-optimized investing that may assist established traders. On the identical time, Acorns tends to incentivize newbies to get into the behavior of constant investments by means of spending round-ups and on-line buying companions.

It’s additionally doable that Betterment has extra funding portfolio choices, though Acorns provides core index funds, ESG methods, and Bitcoin-linked ETFs to cowl many of the bases.

The truth that Betterment provides free checking and financial savings accounts can also be a pleasant contact.

The pricing is a toss-up with small account balances. Upon reaching a $20,000 mixed Betterment account steadiness, the 0.25% price will be larger than a flat month-to-month price. You should resolve if the tax optimization options and extra funding instruments are price it. 

Learn our Betterment evaluation for extra.

Go to Betterment

Robinhood

Greatest For: Greatest for Fractional Investing

Automated Investing: No | Spherical-ups: Sure | Minimal Funding: $1

Robinhood provides free micro-investing with a $1 minimal funding. You may commerce shares and ETFs, however received’t get expert-made mannequin portfolios or a robo-advisor like the opposite apps like Acorns we point out. Nonetheless, it has an easy-to-use net and cell platform for traders of any expertise degree.

You may decide into the Robinhood Money Card, which may spherical up your purchases and put your “spare change” into Robinhood to be obtainable for investing. You will nonetheless want to decide on your investments, nonetheless.

This platform supplies ample flexibility with funding decisions and market order sorts that may profit short-term merchants and long-term traders.

The Robinhood promotions may help you get free inventory and bonus money.

Investing Options

The micro-investing app allows you to purchase shares and ETFs with as little as $1. Robinhood can also be a wonderful possibility for penny shares, which many competing platforms don’t supply. It’s additionally doable to commerce over a dozen crypto tokens with no minimal funding, though availability varies by state. The app allows you to switch positions to different crypto wallets for self-custody. 

Along with market orders that purchase or promote shares on the present worth, you possibly can place restrict orders and different superior order sorts to pinpoint a particular entry level to time the market.

You too can commerce inventory on demand as a substitute of being certain to a once-daily buying and selling window.

This platform’s inventory analysis instruments are a tad extra in-depth than a number of the different Acorns app alternate options talked about on this record however are nonetheless restricted to primary charts and basic knowledge. I counsel utilizing a inventory analysis web site for versatile evaluation and inventory screener concepts.  

Lively merchants might take into account upgrading to Robinhood Gold ($5/month), which supplies Nasdaq Stage II market knowledge, Morningstar insights, decreased margin rates of interest, and better on the spot deposit limits. Nonetheless, you continue to lack superior charting instruments and simulators that low cost on-line brokers usually tend to supply.  

Robinhood is protected, however the platform has a checkered previous that has impressed the platform to enhance investor protections to forestall dangerous trades. Like different apps on this record, funding accounts are eligible for as much as $500,000 in SIPC insurance coverage if the platform halts operations.

Banking Options

You may open a free spending account with as much as $250,000 in FDIC protection. Clients can request a free Robinhood Money Card for deposits and purchases or free in-network ATM withdrawals. It’s a Mastercard debit card. 

Cardholders can use the Money Card at collaborating retailers and earn money again to spend money on shares or crypto. You may decide to spherical up all card purchases to the closest greenback.

Pricing

Robinhood provides free inventory trades, ETFs, crypto, and choices (excluding contract charges). The barebones platform is superb for many merchants and long-term traders. The Robinhood Money Card and accompanying spending account are free, too.

The elective Gold program is right for lively merchants and savers with a notable money cushion. The primary $30 days are free, after which it prices $5 month-to-month. Robinhood Gold advantages embody:

• Superior market knowledge (Nasdaq Stage 2 and Morningstar Insights)
• Instantaneous Deposit limits of as much as $50,000 per day
• Decrease margin rate of interest
• 3% IRA match 
• Excessive-interest money sweep account
• As much as $2.25 million in pass-through FDIC Insurance coverage

Robinhood vs. Acorns

Robinhood is mostly one of many first investing apps folks use to spend money on shares and choices. Conversely, Acorns is among the first apps for brand new traders wanting hands-on assist by investing in index funds and prebuilt portfolios. 

Finally, the higher platform will depend on your required funding choices and when you’re comfy self-managing your portfolio.

If you wish to keep away from Acorns’ account charges, it’s doable to construct an analogous ETF portfolio by means of Robinhood. The $1 fractional investing minimal makes pinpointing your goal asset allocation simple, though you’re chargeable for rebalancing your portfolio at appropriate increments. 

Each can spherical up your debit card purchases and use your change for investing. Nevertheless it’s tougher with Robinhood as you will have to make use of the Robinhood debit card, and the cash transferred robotically is not really invested. You will nonetheless have to log into the app and select your investments.

Learn our Robinhood evaluation for extra.

Go to Robinhood

Webull

Greatest For: Inventory Analysis Instruments

Automated Investing: Sure | Spherical-ups: No | Minimal Funding: $5

Webull is a extremely useful inventory buying and selling platform with a powerful array of free analysis instruments, comparable to superior charting and a paper buying and selling simulator. Automated portfolios are additionally obtainable in order for you some or your entire investments to have a hands-free expertise.

Buyers can get pleasure from commission-free buying and selling, $5 fractional inventory or ETF shares, and a high-interest money administration account too.

Along with an internet and cell platform, customers can obtain a free desktop app. This software program is usually a boon for lively merchants.

Investing Options

You should buy shares and ETFs with as little as $5 per commerce. Choices and OTC shares can be found as nicely. Fairness choices don’t incur commissions or contract charges.

Margin buying and selling with aggressive rates of interest is offered to all customers with out becoming a member of a premium program, as some free investing apps require.

Webull is among the few apps you possibly can confidently analysis and commerce shares utilizing the identical platform. For example, you possibly can learn inventory charts utilizing over 50 superior technical indicators and 12 charting research.

Lively merchants can paper commerce shares and choices to check numerous methods with limitless digital money. This simulator sources real-time knowledge together with hands-on higher and decrease technical indicators.

The platform’s free inventory screener can establish potential investments, and you may dig deeper with basic or technical knowledge. Elective Nasdaq TotalView Stage 2 knowledge is offered at further price when you want it.

Whereas Webull primarily caters to self-directed buying and selling, it just lately launched automated portfolios. Webull Good Advisor assesses your danger tolerance to counsel a customized portfolio of inventory and bond index ETFs. The minimal funding is $100.

For the automated portfolios, you received’t pay advisory charges for the primary six months; after that you will pay a 0.20% annual advisory price.

Earlier than opening a buying and selling account, try the Webull promotions to earn a number of free inventory shares.  

Banking Options

The Webull Excessive-Yield Money Administration Account prices no month-to-month service charges or minimal account balances. Clients will be eligible for as much as $1 million in FDIC protection because of a number of accomplice banks holding buyer deposits. Uninvested money in your brokerage account sweeps into this account, too, which helps you earn extra curiosity.  

There aren’t any month-to-month withdrawal limits, though you received’t obtain a debit card like some on-line banking accounts supply.

Pricing

It’s free to affix Webull, and there aren’t any buying and selling commissions on most merchandise or minimal account balances.

One add-on price price noting is paying $2.99 month-to-month for Nasdaq Stage 2 knowledge feeds.

Webull vs. Acorns

Webull allows you to create self-directed and automatic buying and selling portfolios, whereas Acorns solely helps ETFs. Moreover, Webull prices a 0.2% annual advisory price, which will be extra inexpensive than the Acorns fastened worth when you could have a small portfolio worth.

If you wish to make investments and financial institution with the identical platform, Acorns will be higher as you get a debit card and might earn investing rewards on qualifying purchases. 

You might also get pleasure from our Webull vs. Robinhood comparability for an apples-to-apples analysis.

Learn our Webull evaluation for extra.

Go to Webull

Acorns is a powerful investing app that may assist folks start investing. Having the ability to spherical up your spare change and make investments it in automated portfolios may help anybody get began investing. Nonetheless, the above choices might supply extra flexibility with self-directed investing and long-term monetary instruments.

Learn our Acorns vs. Robinhood vs. Stash comparability to assist select the perfect micro-investing app.

What are Micro Investing Apps?

Micro investing apps allow you to make investments as little as $1 to $5 per commerce into shares and ETFs. These platforms sometimes don’t cost buying and selling commissions, however you pay a hard and fast month-to-month service price for limitless trades and account perks.

The apps like Acorns we point out on this article qualify as micro investing apps as they’ve a rock-bottom minimal funding. Whereas it’s simple to take a position small quantities of cash in taxable and retirement accounts, every platform has completely different funding decisions and membership perks that make attaining your monetary objectives simpler. 

Are There Apps like Acorns however Free?

Sure, a number of free robo-advisors can present comparable funding choices. Three choices to contemplate are:

•  SoFi Automated Investing has a $1 minimal funding and can robotically rebalance your portfolio. You too can open a separate self-directed Lively Investing account.
• M1 Finance is one other semi-automated brokerage as you possibly can add expert-built mannequin portfolios to your funding pie. Nonetheless, you will need to set your personal asset allocation and resolve when to promote overallocated inventory or ETF inventory slices. The minimal preliminary funding is $100 for taxable accounts and $500 for retirement merchandise, however subsequent investments solely want a $25 steadiness.
• Ally Make investments provides free Robo Portfolios by sustaining a minimal 30% money cushion and a minimal $100 preliminary funding. The 4 portfolio decisions embody core, revenue, socially accountable, and tax optimized. 

Is Acorns Nonetheless Price it?

Acorns is usually a worthwhile investing app if you need a managed index ETF portfolio that strives to match the overall inventory market return in proportion to your danger tolerance. The spending round-up and rewards debit card may allow you to make investments extra continuously. 

Nonetheless, this app prices a month-to-month service price between $3 and $9 and doesn’t supply particular person shares or tax-loss harvesting. Consequently, these limitations could make it an costly investing app when you could have a small funding steadiness.  

Here is our full evaluation of Acorns.

Is Leaving Acorns a Taxable Occasion?

Most definitely. Non-retirement brokerage accounts solely switch complete ETF shares. Any fractional shares will probably be bought. For instance, when you personal 12.75 shares, Acorns transfers the non-taxable 12 complete shares, however the 0.75 partial share will get liquidated, making a taxable occasion on the bought portion. 

Moreover, the app prices a $35 transfer-out price per ETF ticker. This price is non-taxable however costly. You may keep away from it by promoting shares and withdrawing funds to a linked checking account. Nonetheless, the promoting request is a taxable occasion for non-retirement accounts. 

Abstract

These six micro investing apps sometimes present extra funding choices and probably cost decrease membership charges. Your greatest investing app will depend on which funding decisions and analysis instruments you need. Because of low account minimums and fractional investing, beginning with any platform is simple.