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.
Visit Site | Visit Site | |
Robinhood | Acorns | |
---|---|---|
Get a Free Stock (worth between $5 and $200) - | $20 Investment Bonus - | |
Benefits and Features | ||
Savings | ||
Stock Trading | Part of service fee. No add-on trading fees. | |
Options Trading | ||
Annual Fee |
| |
Cryptocurrency Trading | ||
Minimum Deposit | ||
Checking | ||
Mutual Fund Trading | ||
Commission Free ETFs | All U.S. listed ETFs | A selection automatically chosen by Acorns |
Phone Support | ||
Live Chat Support | Available 24/7 (requires sign in) | |
Email Support | ||
Human Advisors | ||
Robo Advisor | ||
Assets Under Management | ||
Penny Stocks | ||
Tax Loss Harvesting | ||
Goal Tracker | ||
Automatic Deposits | ||
Broker Assisted Trades | Acorns automatically invest and trade for you | |
Good For | Beginners; Passive investors; Those who have trouble saving/investing on their own | |
Inactivity Fee | None, but you will keep paying the monthly fee | |
Maintenance Fee | ||
Online Platform | ||
iPhone App | ||
Android App | ||
Banking | Offers Robinhood spending account with Robinhood Cash Card issued by Sutton Bank | Included in Acorns Bronze ($3/mo). Free metal debit card, no minimum balance, no overdraft fees, and 55,000+ fee-free ATMs nationwide. |
Mobile App | ||
Desktop App | ||
Two-Factor Authentication | Device approvals, Authenticator app, SMS | |
Forex Trading | ||
Futures Trading | ||
Bond Trading | ||
CFD Trading | ||
Currency Trading | ||
Customer Service | Live Chat (24 hours via Robinhood app) Phone: 650-761-7789 (available 24/7) Email: support@robinhood.com | |
Locations | ||
Online Community | ||
Seminars | ||
Trading Platform | ||
Virtual Trading | ||
Fractional Shares | ||
Taxable Accounts | ||
401k Plans | ||
IRA Accounts | ||
Roth IRA Accounts | ||
SEP IRA Accounts | ||
Trust Accounts | ||
529 Plans | ||
CreditDonkey® Reviews | ||
Stock Trading | ||
Options Trading | ||
Minimum Deposit | ||
Mobile App | ||
Commissions and Fees | ||
Customer Service | ||
Ease of Use | ||
Research | ||
Annual Fee | ||
Pros & Cons | Pros:
| Pros:
|
Bottom Line | Free way to trade stocks with limited bells and whistles... | Investment app that automatically invests your spare change. Good for young investors to get into the habit... |
Visit Site | Visit 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 08/13/2024. Acorns: Pricing information from published website as of 09/28/2020. |
Buy and Sell Cryptocurrency
Robinhood Crypto offers commission-free cryptocurrency investments 24/7. Some of the cryptocurrencies available are Bitcoin, Dogecoin, Ethereum, and Litecoin. This offer is currently available to selected states.
$20 Investment Bonus
- Open an Acorns account (new users only)
- Set up the Recurring Investments feature
- Have your first investment be made successfully via the Recurring Investments feature
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 eToro.
In short: Robinhood's customer service is noteworthy.
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Robinhood IRA Review
Is Robinhood Safe
How Does Robinhood Make Money
Buy Bitcoin on Robinhood or Coinbase Pro
Articles on Acorns
Acorns App Review
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Is Acorns Legit
How to Make Money Using Acorns
Comments
- Olivia Tabor from Texas
I have both Acorns and Robinhood and even though they each serve a different purpose I don't have the freedom of stock purchase that I really like. I believe Acorns diversifies for my needs more effectively.
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