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M1 Finance vs Acorns

M1 Finance is a commission-free investing app that allows you to choose your own investments. How does it compare to Acorns? Read our comparison chart below.

M1 Finance offers automated investing with no commissions or trading 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.

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 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
Commission Free Stock Trading - 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 FeeA $3 monthly platform fee will apply to clients with less than $10,000 in M1 assets or without an active M1 Personal Loan.
  • Acorns Personal ($3/mo) - includes personal taxable account, IRA, and checking account
  • Acorns Personal Plus ($6/mo) - includes everything in Personal, emergency fund, 25% match on rewards, and 1% IRA match on Acorns Later contributions
  • Acorns Premium ($12/mo) - includes everything in Personal Plus, investment accounts for kids, 50% match on rewards, custom portfolio, Trust & Will, $10K Life Insurance, free GoHenry account, and 3% IRA match on Acorns Later contributions
Cryptocurrency Trading
Yes
No
Minimum Deposit$100 ($500 for IRAs, $5,000 for Trust Account)
$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 $50 or less and no trading or deposit activity for 90+ days)None, but you will keep paying the monthly fee
Maintenance Fee$3 monthly platform fee for accounts with less than $10,000 in M1 assets, or without an active M1 Personal Loan
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)
Banking 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
  • Morning and afternoon trade windows
Cons:
  • No research
  • No human advisors
  • Platform fee
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 LineCommission-free 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

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 commission-free investment app offering ready-made portfolios that are made up of "pies." What's the best M1 Finance Pie? Find out.

M1 Finance Alternatives

M1 Finance is a popular app for commission-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.

Apps Like Acorns

Acorns is one of the best micro-investing apps out there. But is it for everyone? Read on to see some of your alternatives.

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

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