Apps Like Acorns – Finest Pockets Hacks

SoFi Make investments

Finest For: Free Managed Portfolios

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

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

You gained’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 provide tax-loss harvesting and in-depth monetary planning instruments that grow to be extra precious 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, reasonable, or conservative danger technique. Your portfolio routinely 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 possibly can nonetheless schedule recurring investments and reinvest your dividend earnings.

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

Banking Options

Identical to Acorns presents a web-based checking account, you may additionally think about 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.  

For those who’re a loyalist, look into the SoFi Member Rewards program. You possibly can earn factors which you can convert into money with a banking or energetic investing account. Members can even take pleasure in 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 provide managed ETF portfolios with automated rebalancing, however Acorns costs a month-to-month price between $3 and $9. SoFi Make investments has a $1 minimal funding, whereas Acorns gained’t make investments till your money stability reaches $5.

SoFi permits you to handle your portfolio and presents extra funding choices. Nevertheless, Acorns is healthier when you’ve got bother discovering additional money to take a position every month and are blissful to spend money on ETFs.

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

Go to Sofi Make investments

Stash Make investments

Finest For: Finest for Spending Spherical-ups

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

On many fronts, Stash Make investments is probably the most comparable Acorns various. You possibly can make investments your spare change through the use of Stash’s Inventory-Again Card. This card can even 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 based mostly in your objectives and danger tolerance. Additional, you’ve gotten the choice of creating 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 is determined by your danger profile. It would routinely 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 purchase particular person shares and ETFs. You identify the asset allocation and the rebalancing of the account. There’s limitless buying and selling by satisfying the $5 minimal funding. The app has a primary inventory portfolio analyzer to offer insights to enhance asset allocation and reduce danger.

Each Stash and Acorns have numerous content material for new traders to study funding selections and find out how to make investments. On Stash, these quick articles and movies are usually 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. For those who benefit from this perk, you will get the Inventory-Again debit card, which allows you to probably accumulate 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 whenever you go to the quick meals chain or Starbucks inventory when grabbing a espresso. You will receive an index ETF share whenever 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 strategy to routinely make investments every time you store or pay payments to plan for long-term objectives.

Pricing

There is no such thing as 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 provide the primary month free so you may attempt it out.

Think about the premium plan whenever you need to open funding accounts for 2 kids or the flexibility to earn inventory on debit purchases. In any other case, the entry-level plan is nice if you happen to merely desire 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 might also respect 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 keep on with conventional index ETFs based mostly on the corporate’s market cap. Acorns additionally presents 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

Finest 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 start out and $25 minimal contributions. It does not provide a round-up function, which is a core function of Acorns.

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

Investing Options

Your portfolio at M1 is known as a “pie” and you may make your personal pie, or select from a wide range of pre-made pies. It doesn’t provide fully-managed portfolios, so you need to decide your danger tolerance and discover mannequin portfolios that match your targets. This requires slightly extra effort, however there are various funding choices and the platform is user-friendly.

The mannequin portfolios present publicity to a wide range of funding methods, together with:

• Basic investing based mostly on danger tolerance (these funds are much 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 forth.)
• Revenue-focused

So, if you happen to’re snug managing your personal portfolio, you may select one of many Professional Pie mannequin portfolios with an asset allocation much like what Acorns recommends — or construct your personal. Then, you may have an identical 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 too can 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 whenever you purchases shares of your pie. The cash you contribute is used to buys belongings which can be beneath their goal asset allocation share. Nevertheless, M1 gained’t promote overallocated shares until you request a guide rebalance. Whereas it’s not a true-to-form automated rebalancing, promoting much less steadily creates fewer tax-reportable occasions that may be a ache to incorporate in your earnings tax return precisely.

Creating your portfolio is free, however you need to deposit at the least $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 measurement per place. 

Banking Options

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

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

Pricing

The first M1 platform is free and is adequate for many traders. You’ve got entry to all of the inventory and ETF funding choices. All trades execute throughout 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. For those who resolve to improve you will get entry these additional 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 all the things else

M1 Finance vs. Acorns

M1 Finance is the clear winner whenever you need 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 totally free. 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 whenever you desire a totally automated expertise, as it’s going to advocate an asset allocation. It would additionally promote shares as essential to rebalance. Lastly, it’s simpler to spherical up purchases or earn money again to search out extra money to take a position.  

Learn our M1 Finance evaluation for extra.

Go to M1 Finance

Betterment

Finest 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 might be based mostly in your danger tolerance and objectives. The platform will then handle your account in your behalf to keep up your goal asset allocation, there isn’t any choice to self handle.

Additionally, there isn’t any minimal deposit requirement to open an account however the minimal contribution quantity is $10 whenever you do begin investing. It doesn’t provide a round-up function.

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

Investing Options

It’s free to hitch 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.

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

• Core: Basic inventory and bond index investing based mostly in your danger tolerance
• Socially Accountable: Broad impression, local weather impression, and social impression 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 development 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 odd earnings 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 would forecast the potential tax implications earlier than promoting or withdrawing. It will probably additionally help with charitable donations.  

You may additionally benefit from the ease of hiring a monetary advisor by means of the platform. One-time recommendation packages value between $299 and $399, whereas Betterment Premium members take pleasure in on-demand periods.

Banking Options

You possibly can open two banking accounts at no additional value to simply entry direct deposits, pay payments, and fund your funding portfolios. Doubtlessly shocking, you may open these accounts even if you happen to do not need 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 overseas transaction charges. 

Study 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 differ by account kind:

• Investing accounts: $4 month-to-month price that switches to a 0.25% annual price when you’ve got at the least $250 in recurring month-to-month deposits or have a minimal $20,000 mixed stability throughout all Betterment account sorts.
• Premium: Memberships require a $100,000 investing stability or greater 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 can assist you turn to the 0.25% advisory price sooner in your investing account.  

Betterment vs. Acorns

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

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

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

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

Learn our Betterment evaluation for extra.

Go to Betterment

Robinhood

Finest For: Finest for Fractional Investing

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

Robinhood presents free micro-investing with a $1 minimal funding. You possibly can commerce shares and ETFs, however gained’t get expert-made mannequin portfolios or a robo-advisor like the opposite apps like Acorns we point out. Nevertheless, it has an easy-to-use internet and cellular platform for traders of any expertise degree.

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

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

The Robinhood promotions can assist you get free inventory and bonus money.

Investing Options

The micro-investing app enables you to purchase shares and ETFs with as little as $1. Robinhood can be a wonderful possibility for penny shares, which many competing platforms don’t provide. It’s additionally attainable to commerce over a dozen crypto tokens with no minimal funding, though availability varies by state. The app enables 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 may place restrict orders and different superior order sorts to pinpoint a selected entry level to time the market.

You too can commerce inventory on demand as a substitute of being sure 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 options talked about on this checklist 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 think about upgrading to Robinhood Gold ($5/month), which supplies Nasdaq Stage II market knowledge, Morningstar insights, lowered margin rates of interest, and better instantaneous deposit limits. Nevertheless, you continue to lack superior charting instruments and simulators that low cost on-line brokers usually tend to provide.  

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

Banking Options

You possibly can open a free spending account with as much as $250,000 in FDIC protection. Prospects 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 possibly can decide to spherical up all card purchases to the closest greenback.

Pricing

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

The elective Gold program is good for energetic 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 embrace:

• Superior market knowledge (Nasdaq Stage 2 and Morningstar Insights)
• Immediate 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 usually one of many first investing apps individuals use to spend money on shares and choices. Conversely, Acorns is without doubt one of the first apps for brand spanking new traders wanting hands-on assist by investing in index funds and prebuilt portfolios. 

Finally, the higher platform is determined by your required funding choices and if you happen to’re snug self-managing your portfolio.

If you wish to keep away from Acorns’ account charges, it’s attainable to construct an identical 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. But it surely’s tougher with Robinhood as you will have to make use of the Robinhood debit card, and the cash transferred routinely is not truly invested. You will nonetheless have to log into the app and select your investments.

Learn our Robinhood evaluation for extra.

Go to Robinhood

Webull

Finest For: Inventory Analysis Instruments

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

Webull is a extremely practical inventory buying and selling platform with a powerful array of free analysis instruments, corresponding to superior charting and a paper buying and selling simulator. Automated portfolios are additionally accessible if you’d like some or your entire investments to have a hands-free expertise.

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

Along with an internet and cellular platform, customers can obtain a free desktop app. This software program could be a boon for energetic 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 out there to all customers with out becoming a member of a premium program, as some free investing apps require.

Webull is without doubt one of the few apps you may confidently analysis and commerce shares utilizing the identical platform. As an illustration, you may 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 determine potential investments, and you may dig deeper with basic or technical knowledge. Non-obligatory Nasdaq TotalView Stage 2 knowledge is out there at additional value if you happen to want it.

Whereas Webull primarily caters to self-directed buying and selling, it 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 gained’t pay advisory charges for the primary six months; after that you’re going to pay a 0.20% annual advisory price.

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

Banking Options

The Webull Excessive-Yield Money Administration Account costs no month-to-month service charges or minimal account balances. Prospects may be eligible for as much as $1 million in FDIC protection due to 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 are not any month-to-month withdrawal limits, though you gained’t obtain a debit card like some on-line banking accounts provide.

Pricing

It’s free to hitch Webull, and there are not 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 enables you to create self-directed and automatic buying and selling portfolios, whereas Acorns solely helps ETFs. Moreover, Webull costs a 0.2% annual advisory price, which may be extra inexpensive than the Acorns fastened worth when you’ve gotten a small portfolio worth.

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

You may additionally take pleasure in 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 individuals start investing. With the ability to spherical up your spare change and make investments it in automated portfolios can assist anybody get began investing. Nevertheless, the above choices might provide extra flexibility with self-directed investing and long-term monetary instruments.

Learn our Acorns vs. Robinhood vs. Stash comparability to assist select the very best 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 set 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 selections and membership perks that make reaching 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 routinely rebalance your portfolio. You too can open a separate self-directed Lively Investing account.
• M1 Finance is one other semi-automated brokerage as you may add expert-built mannequin portfolios to your funding pie. Nonetheless, you 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 stability.
• Ally Make investments presents free Robo Portfolios by sustaining a minimal 30% money cushion and a minimal $100 preliminary funding. The 4 portfolio selections embrace core, earnings, socially accountable, and tax optimized. 

Is Acorns Nonetheless Price it?

Acorns could be a worthwhile investing app whenever you desire 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 can even make it easier to make investments extra steadily. 

Nevertheless, this app costs a month-to-month service price between $3 and $9 and doesn’t provide particular person shares or tax-loss harvesting. Consequently, these limitations could make it an costly investing app when you’ve gotten a small funding stability.  

Here is our full evaluation of Acorns.

Is Leaving Acorns a Taxable Occasion?

Most probably. Non-retirement brokerage accounts solely switch complete ETF shares. Any fractional shares might be bought. For instance, if you happen to 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 costs a $35 transfer-out price per ETF ticker. This price is non-taxable however costly. You possibly can keep away from it by promoting shares and withdrawing funds to a linked checking account. Nevertheless, 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 finest investing app is determined by which funding selections and analysis instruments you need. Due to low account minimums and fractional investing, beginning with any platform is simple.