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 Energetic Investing accounts. Each companies provide 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 provide tax-loss harvesting and in-depth monetary planning instruments that change into extra helpful as your portfolio worth will increase.

Investing Options

Like Acorns, you will decide your threat tolerance and deliberate withdrawal date to get a really useful asset allocation. This robo-advisor will spend money on diversified inventory and bond index ETFs with an aggressive, average, or conservative threat 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’ll be able to nonetheless schedule recurring investments and reinvest your dividend earnings.

You too can open an Energetic 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 presents a web based checking account, you might also take into account a SoFi Checking and Financial savings account. This free banking account earns a aggressive rate of interest, helps limitless transactions, and means that you can 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’ll be able to earn factors which you can convert into money with a banking or lively investing account. Members can even take pleasure in complimentary profession counseling and monetary planning classes. 

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 expenses 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 stability reaches $5.

SoFi means that you can handle your portfolio and presents extra funding choices. Nevertheless, Acorns is healthier if in case you have hassle discovering further money to take a position every month and are pleased 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 via Bitcoin-linked ETFs (just 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 related Acorns various. You’ll be able to make investments your spare change by utilizing 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 an alternative of money.

With Stash, additionally, you will get an automatic portfolio that’s designed based mostly in your targets and threat tolerance. Additional, you’ve gotten 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 is dependent upon your threat profile. It would 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’s limitless buying and selling by satisfying the $5 minimal funding. The app has a fundamental inventory portfolio analyzer to offer insights to enhance asset allocation and reduce threat.

Each Stash and Acorns have plenty of content material for new buyers to find out about funding decisions and the best way to make investments. On Stash, these brief 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. If you happen to benefit from this perk, you will get the Inventory-Again debit card, which lets you doubtlessly 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 once you go to the quick meals chain or Starbucks inventory when grabbing a espresso. You may get hold of an index ETF share once 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 targets.

Pricing

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

• Stash Development ($3/month): One Sensible Portfolio, one Private Portfolio, and debit card (with out Inventory-Again buy rewards)
• Stash Plus ($9/month): One Sensible 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 strive it out.

Take into account the premium plan once you wish to open funding accounts for 2 kids or the power to earn inventory on debit purchases. In any other case, the entry-level plan is sweet should you merely need a private and managed brokerage or retirement account.

Stash Make investments vs. Acorns

Take into account Stash Make investments for investing in particular person shares alongside a managed portfolio. Premium Stash+ customers may 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 buyers can add socially aware ESG portfolios and Bitcoin-linked ETFs, whereas Stash portfolios sometimes follow conventional index ETFs based mostly on the corporate’s market cap. Acorns additionally presents three plans which offer another choice to get your required banking and investing options at an reasonably priced month-to-month value.

Learn our Stash Make investments evaluate for extra.

Go to Stash Make investments

M1 Finance

Finest For: Personalized Portfolios

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

In case you are solely in micro-investing, then M1 won’t 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 allows you to incorporate all kinds of expert-made mannequin portfolios (referred to as “skilled 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 is named a “pie” and you can also make your personal pie, or select from quite a lot of pre-made pies. It doesn’t provide fully-managed portfolios, so you need to decide your threat tolerance and discover mannequin portfolios that match your targets. This requires a bit of extra effort, however there are lots of funding choices and the platform is user-friendly.

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

• Basic investing based mostly on threat 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 many others.)
• Earnings-focused

So, should you’re comfy managing your personal portfolio, you may select one of many Professional Pie mannequin portfolios with an asset allocation just 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 needn’t do what Acorns says, it’s also possible to 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 via crypto-linked ETFs and shares.

M1 rebalances your portfolio once you purchases shares of your pie. The cash you contribute is used to buys property which can be under their goal asset allocation proportion. Nevertheless, 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 regularly 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 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 presents 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 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 enough for many buyers. You have 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 optionally available 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 once 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 an alternative of oblique publicity via cryptocurrency ETFs.

Acorns stays higher than M1 once you need a totally automated expertise, as it’ll 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 evaluate 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 will probably be based mostly in your threat tolerance and targets. 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 once 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 power to take a position via a standard or Roth IRA.

Investing Options

It’s free to affix and full a fundamental questionnaire to find out your threat tolerance and really useful 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 threat tolerance
• Socially Accountable: Broad impression, local weather impression, and social impression portfolios
• Progressive Tech: Funds specializing in high-growth potential corporations within the tech sector
• Goldman Sachs Sensible Beta: ETFs that spend money on corporations 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 corporations. It practices worth investing as an alternative 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 cut back unusual earnings by as much as $3,000 per yr.
• Tax coordination: Locations tax-efficient investments in taxable brokerage accounts and the high-tax property in a standard 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 might additionally help with charitable donations.  

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

Banking Options

You’ll be able to open two banking accounts at no further value to simply entry direct deposits, pay payments, and fund your funding portfolios. Probably shocking, you may open these accounts even should 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 targets, 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. 

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

Pricing

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

The service charges differ by account sort:

• Investing accounts: $4 month-to-month price that switches to a 0.25% annual price if in case you have a minimum of $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 larger by charging an extra 0.15% annual price for a 0.40% complete annual advisory price. This membership tier contains limitless monetary steerage from a CFP. 
• Crypto: 1% annual price plus buying and selling charges via 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 on your investing account.  

Betterment vs. Acorns

Betterment presents extra automated funding instruments like tax-optimized investing that may assist established buyers. On the identical time, Acorns tends to incentivize newbies to get into the behavior of constant investments via spending round-ups and on-line purchasing 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 a lot 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 might be larger than a flat month-to-month price. You will need to resolve if the tax optimization options and extra funding instruments are value it. 

Learn our Betterment evaluate 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’ll be able to 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. Nevertheless, it has an easy-to-use net and cellular platform for buyers of any expertise degree.

You’ll be able to choose into the Robinhood Money Card, which might spherical up your purchases and put your “spare change” into Robinhood to be out there for investing. You may 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 buyers.

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 be a superb 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 allows you to switch positions to different crypto wallets for self-custody. 

Along with market orders that purchase or promote shares on the present value, 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 an alternative of being certain to a once-daily buying and selling window.

This platform’s inventory analysis instruments are a tad extra in-depth than among the different Acorns app options talked about on this checklist however are nonetheless restricted to fundamental charts and basic information. I recommend utilizing a inventory analysis web site for versatile evaluation and inventory screener concepts.  

Energetic merchants could take into account upgrading to Robinhood Gold ($5/month), which supplies Nasdaq Stage II market information, Morningstar insights, diminished margin rates of interest, and better immediate deposit limits. Nevertheless, you continue to lack superior charting instruments and simulators that low cost on-line brokers usually tend to provide.  

Robinhood is protected, 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’ll be able to 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’ll be able to choose 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 superb for many merchants and long-term buyers. The Robinhood Money Card and accompanying spending account are free, too.

The optionally available Gold program is good 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 embrace:

• Superior market information (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 individuals use to spend money on shares and choices. Conversely, Acorns is likely one of the first apps for brand spanking new buyers wanting hands-on assist by investing in index funds and prebuilt portfolios. 

Finally, the higher platform is dependent upon your required funding choices and should you’re comfy self-managing your portfolio.

If you wish to keep away from Acorns’ account charges, it’s attainable to construct an identical ETF portfolio via Robinhood. The $1 fractional investing minimal makes pinpointing your goal asset allocation simple, though you’re answerable 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 harder with Robinhood as you will have to make use of the Robinhood debit card, and the cash transferred robotically is not truly invested. You may nonetheless have to log into the app and select your investments.

Learn our Robinhood evaluate for extra.

Go to Robinhood

Webull

Finest 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, resembling superior charting and a paper buying and selling simulator. Automated portfolios are additionally out there if you would like some or all your investments to have a hands-free expertise.

Traders 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 lively merchants.

Investing Options

You should purchase 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 likely 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.

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

The platform’s free inventory screener can determine potential investments, and you’ll dig deeper with basic or technical information. Optionally available Nasdaq TotalView Stage 2 information is offered at further value should you want it.

Whereas Webull primarily caters to self-directed buying and selling, it just lately launched automated portfolios. Webull Sensible Advisor assesses your threat tolerance to recommend 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, take a look at the Webull promotions to earn a number of free inventory shares.  

Banking Options

The Webull Excessive-Yield Money Administration Account expenses no month-to-month service charges or minimal account balances. Prospects might 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 provide.

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 value noting is paying $2.99 month-to-month for Nasdaq Stage 2 information feeds.

Webull vs. Acorns

Webull allows you to create self-directed and automatic buying and selling portfolios, whereas Acorns solely helps ETFs. Moreover, Webull expenses a 0.2% annual advisory price, which might be extra reasonably priced than the Acorns mounted value when you’ve gotten a small portfolio worth.

If you wish to make investments and financial institution with the identical platform, Acorns might 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 evaluate for extra.

Go to Webull

Acorns is a powerful investing app that may assist individuals start investing. Having the ability to spherical up your spare change and make investments it in automated portfolios may help anybody get began investing. Nevertheless, the above choices could 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 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 reaching your monetary targets simpler. 

Are There Apps like Acorns however Free?

Sure, a number of free robo-advisors can present related 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 Energetic 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 decisions embrace core, earnings, socially accountable, and tax optimized. 

Is Acorns Nonetheless Price it?

Acorns could be a worthwhile investing app once you need a managed index ETF portfolio that strives to match the full inventory market return in proportion to your threat tolerance. The spending round-up and rewards debit card can even enable you make investments extra regularly. 

Nevertheless, this app expenses 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.  

This is our full evaluate of Acorns.

Is Leaving Acorns a Taxable Occasion?

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

Moreover, the app expenses a $35 transfer-out price per ETF ticker. This price is non-taxable however costly. You’ll be able to 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 greatest investing app is dependent upon which funding decisions and analysis instruments you need. Due to low account minimums and fractional investing, beginning with any platform is simple.