Save money and be informed. CreditDonkey is a personal finance comparison and reviews website. This website is made possible through financial relationships with card issuers and some of the products and services mentioned on this site. Advertiser Disclosure†

M1 Finance vs Acorns

M1 Finance is a no-fee investing app that allows you to choose your own investments. How does it compare to Acorns? Read our comparison chart below.

M1 Finance offers free automated investing with no commissions or account fees. M1 lets you select your own investments and their automation will manage it for you. This is great for investors who want a say. The downside is that there are no human advisors. The minimum to start is just $100. Find out more

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. Find out more

Compare M1 Finance with Acorns, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 M1 FinanceAcorns
 Visit SiteVisit Site
 

M1 Finance

Acorns

SPECIAL OFFER
M1 Investment Account - Up to $500 Bonus - Learn More

Read M1 Finance Review

SPECIAL OFFER
$20 Investment Bonus - Learn More

Read Acorns Review

 

Benefits and Features

Savings 
No
Stock Trading
$0
Part of service fee. No add-on trading fees.
Options Trading
No
No
Annual Fee
None
  • 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
Cryptocurrency Trading
Yes
No
Minimum Deposit
$100
$0
Checking 
Yes
Mutual Fund Trading
No
No
Commission Free ETFsAll U.S. listed ETFsA selection automatically chosen by Acorns
Phone SupportMonday - Friday 9:30 am to 4 pm EST
Yes
Live Chat Support
No
No
Email Support
Yes
Yes
Human Advisors
No
No
Robo Advisor 
Yes
Assets Under Management
$4.5 Billion
$4.7 Billion
Tax Loss HarvestingNo, but offers tax minimization features
No
Goal Tracker
No
Yes
Automatic Deposits
Yes
Yes
Broker Assisted Trades
Included
Acorns automatically invest and trade for you
Good ForDIY investing with passive portfolio managementBeginners; Passive investors; Those who have trouble saving/investing on their own
Inactivity Fee$50 (for accounts with less than $50 and no activity for 90+ days)None, but you will keep paying the monthly fee
Maintenance Fee
$0
Monthly fee for the service
Online Platform
Yes
Yes
iPhone App
Yes (4.6 stars, 33.3k ratings)
Yes (4.7 stars, 760k ratings)
Android App
Yes (4.5 stars, 15.7k ratings)
Yes (4.3 stars, 156k ratings)
BankingAll users can open a M1 Spend account with free debit card. No monthly service fees and no balance requirements.Included in Acorns Personal ($3/mo). Free metal debit card, no minimum balance, no overdraft fees, and 55,000+ fee-free ATMs nationwide.
Mobile App
Check
Yes
Two-Factor Authentication
Yes
Yes
Locations
No
No
Online Community
No
No
Seminars
No
No
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
Yes
Trust Accounts
Yes
No
529 Plans
No
No
 

CreditDonkey® Reviews

 M1 FinanceAcorns
Annual FeeStarStarStarStarStarStarStarStarEmpty StarEmpty Star
Minimum DepositStarStarStarStarStarStarStarStarStarStar
Mobile AppStarStarStarStarHalf StarStarStarStarStarHalf Star
Customer ServiceStarStarStarHalf StarEmpty StarStarStarStarEmpty StarEmpty Star
Ease of UseStarStarStarStarHalf StarStarStarStarStarStar
ResearchStarEmpty StarEmpty StarEmpty StarEmpty Star
Pros & ConsPros:
  • Choose your own investments
  • Can invest in individual stocks
  • No account fees
Cons:
  • No research
  • No human advisors
  • Can only trade once a day
Pros:
  • 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
Bottom LineNo-fee investing app that allows you to choose your own investments... Read full reviewInvestment app that automatically invests your spare change. Good for young investors to get into the habit... 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.

M1 Finance: Pricing information from published website as of 12/26/2023.

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

M1 Finance

M1 Investment Account - Up to $500 Bonus

Open a new M1 investment account. Deposit $10,000 or more into the account within 14 calendar days of account opening. Promotional credit will depend on the deposited value made into the account.

Deposited ValuePromotional Credit
$10,000 - $29,999.99$75
$30,000 - $49,999.99$150
$50,000 - $99,999.99$250
$100,000+$500

This offer is only for customers who have never registered for an M1 user account.

Expires 12/31/2024
M1 Finance

Transfer and Earn Up to $20,000

Complete an Automated Customer Account Transfer Service (ACATS) of at least $100,000 in aggregate and earn up to $20,000. Promotional credit will depend on the amount transferred to the account.

Transfer Account ValuePromotional Credit
$100,000 - $249,999$250
$250,000 - $499,999$1,000
$500,000 - $999,999$2,000
$1,000,000 - $1,999,999$4,000
$2,000,000 - $4,999,999$10,000
$5,000,000 - $6,999,999$15,000
$7,000,000+$20,000

This offer is valid for new and existing M1 customers. Terms and conditions apply.

Expires in 2 days
M1 Finance

Commission Free Stock Trading

M1 Finance allows investors the choice of ETFs and stocks. M1 charges no management fees or commission.

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

Which is Better: M1 Finance or Acorns?

Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing M1 Finance or Robinhood.

In short: M1 Finance's annual fee is excellent.


Articles on M1 Finance

M1 Finance Review

Is M1 Finance legitimate and safe? Find out the pros, cons, fees, and more. An essential read for beginners interested in M1 Finance.

Best M1 Finance Pie

M1 Finance is a fee-free investment app offering pre-selected portfolios called "pies." What's the best M1 Finance Pie? Find out.

M1 Finance Alternatives

M1 Finance is a popular app for fee-free investing. But is there a better option for you? Find out in this detailed guide to M1 Finance alternatives.

Articles on Acorns

Acorns

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 or Safe

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.

Comments

Comments may be filtered for language. CreditDonkey makes no guarantee of comments' factual accuracy. These responses are not provided or commissioned by bank advertisers. Responses have not been reviewed, approved or otherwise endorsed by bank advertisers. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. Visitors may report inappropriate content by clicking the Contact Us link.


You Might Also Like

Retirement Calculator

Retirement Calculator

Get on track with your retirement goals. Find out your needs & how far your savings will stretch with this calculator.
How to Invest in Stocks as a Teenager

How to Invest in Stocks as a Teenager

Investing isn't just for adults anymore. But how exactly do you go about investing when you're still in school? Find out in this detailed guide.
How to Get Free Stocks

How to Get Free Stocks

Discover 15+ platforms offering free stocks and bonuses - a fortune isn't essential.
Best Passive Income Apps

Best Passive Income Apps

Want to earn passive income no matter where you are? Then this list of 20 best passive income apps may be just what you're looking for.
Best Investment Accounts

Best Investment Accounts

Looking to open an investment account? In this list, review the best investment accounts to choose from and how to pick the right one for you.
Public Review
Public.com

Public Review

Public is a commission-free trading app which combines investing with social media. Is it a good broker? Read on to find out.
Fractional Shares: Pros and Cons

Fractional Shares: Pros and Cons

Fractional shares let you buy stocks starting from as little as just $1. Find out if they worth it and the downsides to fractional shares.
Small Investments That Make Money

Small Investments That Make Money

You don't need to be rich to start investing. Here are 15 easy ways to invest small amounts of money.
Are Robo Advisors a Good Idea?

Are Robo Advisors a Good Idea?

Robo advisors make it possible for new investors to start investing. But they come with a fee. Are they worth it? Read on to learn about the pros and cons.
Best Micro Investing App

Best Micro Investing App

Micro investing apps allow anyone to invest in stocks with a few dollars. Learn about the best apps for beginners, like Acorns, Robinhood and Stash.

Next Page:

About CreditDonkey
CreditDonkey is a personal finance comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

About Us | Reviews | Deals | Tips | Privacy | Do Not Sell My Info | Terms | Contact Us
(888) 483-4925 | 680 East Colorado Blvd, 2nd Floor | Pasadena, CA 91101
© 2024 CreditDonkey Inc. All Rights Reserved.