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Acorns vs Robinhood

Acorns is an investment app that automatically invests your spare change. Good for young investors to get into the habit. How does it compare to Robinhood? Read our comparison chart below.

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.

While 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.

Compare Acorns with Robinhood, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 AcornsRobinhood
 Visit SiteVisit Site
 

Acorns

Robinhood

SPECIAL OFFER
$20 Investment Bonus - Learn More

Read Acorns Review

OFFER
Get a Free Stock (worth between $5 and $200) - Learn More

Read Robinhood Review

 

Benefits and Features

Savings
No
 
Stock TradingPart of service fee. No add-on trading fees.
$0
Options Trading
No
$0
Annual Fee
  • Acorns Personal ($3/mo) - includes personal taxable account, IRA, and checking account
  • Acorns Personal Plus ($5/mo) - includes everything in Personal, emergency fund, and 25% match on rewards
  • Acorns Premium ($9/mo) - includes everything in Personal Plus, investment accounts for kids, 50% match on rewards, custom portfolio, Trust & Will, $10K Life Insurance, and free GoHenry account
None
Cryptocurrency Trading
No
$0
Minimum Deposit
$0
$0
Checking
Yes
 
Mutual Fund Trading
No
No
Commission Free ETFsA selection automatically chosen by AcornsAll U.S. listed ETFs
Phone Support
Yes
650-761-7789 (available 24/7)
Live Chat Support
No
Available 24/7 (requires sign in)
Email Support
Yes
Yes
Human Advisors
No
No
Robo Advisor
Yes
No
Assets Under Management
$4.7 Billion
$102 Billion
Penny Stocks 
Yes
Tax Loss Harvesting
No
No
Goal Tracker
Yes
No
Automatic Deposits
Yes
Yes
Broker Assisted TradesAcorns automatically invest and trade for you
Not available
Good ForBeginners; Passive investors; Those who have trouble saving/investing on their own
Beginners; Active traders
Inactivity FeeNone, but you will keep paying the monthly fee
$0
Maintenance Fee
Monthly fee for the service
$0
Online Platform
Yes
Yes
iPhone App
Yes (4.7 stars, 760k ratings)
Yes (4.2 stars, 4.3M ratings)
Android App
Yes (4.3 stars, 156k ratings)
Yes (4.1 stars, 483k ratings)
BankingIncluded in Acorns Personal ($3/mo). Free metal debit card, no minimum balance, no overdraft fees, and 55,000+ fee-free ATMs nationwide.Offers Robinhood spending account with Robinhood Cash Card issued by Sutton Bank
Mobile App
Yes
Yes
Desktop App 
None
Two-Factor Authentication
Yes
Device approvals, Authenticator app, SMS
Forex Trading 
No
Futures Trading 
No
Bond Trading 
No
CFD Trading 
No
Currency Trading 
No
Customer Service Live Chat (24 hours via Robinhood app)
Phone: 650-761-7789 (available 24/7)
Email: support@robinhood.com
Locations
No
No
Online Community
No
No
Seminars
No
Yes
Trading Platform 
Web Trading, Mobile Apps
Virtual Trading
No
No
Fractional Shares
Yes
Yes
Taxable Accounts
Yes
Yes
401k Plans
No
No
IRA Accounts
Yes
Yes
Roth IRA Accounts
Yes
Yes
SEP IRA Accounts
Yes
No
Trust Accounts
No
No
529 Plans
No
No
 

CreditDonkey® Reviews

 AcornsRobinhood
Annual FeeStarStarStarEmpty StarEmpty Star
Minimum DepositStarStarStarStarStarStarStarStarStarStar
Mobile AppStarStarStarStarHalf StarStarStarStarStarEmpty Star
Customer ServiceStarStarStarEmpty StarEmpty StarStarStarStarStarEmpty Star
Ease of UseStarStarStarStarStarStarStarStarStarStar
Stock TradingStarStarStarStarStar
Options TradingStarStarStarStarEmpty Star
Commissions and FeesStarStarStarStarStar
ResearchStarEmpty StarEmpty StarEmpty StarEmpty Star
Pros & ConsPros:
  • No minimum to open account
  • Invest with spare change
  • Cash-back program
Cons:
  • Fees are high for small balances
  • No tax benefits
  • Limited investment options
Pros:
  • Commission-free trades
  • No minimum
  • Extended trading hours
Cons:
  • Limited research
  • No mutual funds & bonds
Bottom LineInvestment app that automatically invests your spare change. Good for young investors to get into the habit... Read full reviewFree way to trade stocks with limited bells and whistles... Read full review
 Visit SiteVisit Site

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Acorns: Pricing information from published website as of 09/28/2020.

Robinhood: Pricing information from published websites as of 04/18/2020.

Acorns

$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
Robinhood

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.

Robinhood

Commission-Free Trades

Trade stocks, funds, options, and cryptocurrencies

Which is Better: Acorns or Robinhood?

Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing Acorns or Goldco.

In short: Robinhood's customer service is noteworthy.


Articles on Acorns

Acorns App Review

Acorns automatically invests your spare change. But can it help make you money? Find out if this app is safe and legit.

Is Acorns Legit

Acorns lets you invest spare change from every purchase. But is it safe to use? Learn just how secure the micro-investing app is.

How to Make Money Using Acorns

Acorns "rounds up" everyday purchases and invests it for you. What's the catch? Read this review to find out how to make money using the app.

Articles on Robinhood

Robinhood

Robinhood lets you trade stocks commission-free and has no account minimums. Is it safe? Are there hidden fees? Read on for the pros and cons.

Robinhood Alternatives

Looking for apps like Robinhood but with a twist? Find the best alternatives with superior features. Do better in online trading with these apps.

Robinhood vs Public vs Webull

Robinhood, Public, and Webull are all great options for growing your money. But which one will suit you the most?

Robinhood vs Webull

Robinhood, Webull, Fidelity - three big investing platforms, but which is best for you? Find out in this detailed comparison guide.

Robinhood IRA Review

Robinhood offers some of the most unique IRAs on the market. But are they any good? Read on to find out.

Is Robinhood Safe

Are you worried about the safety of your investments? Let's examine the security features of Robinhood to determine if it's a reliable choice. Read on.

How Does Robinhood Make Money

Robinhood earns money through payment for order flow, interest rates, and subscriptions. Learn how these factors contribute to Robinhood's success.

Buy Bitcoin on Robinhood or Coinbase Pro

Robinhood and Coinbase Pro are two of the biggest names in retail investing and crypto trading. But which is best for buying Bitcoin?

Comments

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