According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- from $1
- Mobile Apps
- No
- Fractional shares and automated investing
Our Evaluation of Acorns
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Acorns is a moderate-risk broker with the TU Overall Score of 5.05 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Acorns clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
Acorns is a broker suitable for American users, seeking a simple and automated approach to investing.
How we tested Acorns
Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
Brief Look at Acorns
Acorns is an American investment platform launched in 2012. It specializes in automated investments, offering its users an opportunity to invest their spare change and set up automatic investments via its mobile app. Being a convenient and available tool for novice investors, Acorns partners with leading investment companies like Vanguard and BlackRock.
Investments made via the Acorns app are managed by Acorns Advisers LLC, a registered investment advisor, and by Acorns Securities LLC, a registered dealing broker, regulated by the U.S. Securities and Exchange Commission (SEC).
We've identified your country as
US
We have thoroughly analyzed all companies legally providing trading services in your country and created a ranking of the best ones. Our analysis highlights companies that offer optimal working conditions, uphold a strong reputation, and consistently receive the highest number of positive reviews from traders on our website.
Explore the 5 top-rated companies in
US :
- Automated investments using spare change;
- Scheduled investments;
- Support for major investment funds;
- User-friendly mobile app for investment management;
- Programs for investing in children's future and retirement.
- Maintenance fees vary depending on the chosen account;
- Active trading is limited.
TU Expert Verdict
Chief Analytics Officer
Acorns is an American investment platform that offers automated investing through its mobile app, supporting account types such as Investment, Retirement, and Custodial accounts. The service allows users to invest via fractional shares in diversified ETF portfolios managed with partners like Vanguard and BlackRock, with options for scheduled deposits starting from as little as $1. Regulated by the U.S. Securities and Exchange Commission, Acorns also provides SIPC protection for investment accounts up to $500,000 and FDIC coverage for checking accounts, enhancing investor security and confidence.
A few disadvantages are limited investment options, the absence of active trading features, and services restricted to U.S. residents only. Fees begin at $3 per month depending on the account selected, which may not be suitable for traders who prioritize cost or considerable trading flexibility. Acorns is best suited for novice investors looking for a straightforward, automated approach within the United States.
Acorns Summary
Your capital is at risk. The risk of loss in online trading of stocks, options, futures, currencies, foreign equities, and fixed Income can be substantial.
| 💻 Trading platform: | Mobile app |
|---|---|
| 📊 Accounts: | Investment, Retirement, and Custodial |
| 💰 Account currency: | USD |
| 💵 Deposit / Withdrawal: | Bank transfers and bank cards |
| 🚀 Minimum deposit: | No |
| ⚖️ Leverage: | No |
| 💼 Copy Trading: | No |
| 📈️ Min Order: | No |
| 💱 EUR/USD spread: | From $3 depending on the account |
| 🔧 Instruments: | ETFs, retirement savings accounts, and accounts for children |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Order execution: | Automated investing |
| ⭐ Trading features: | Fractional shares and automated investing |
| 🎁 Contests and bonuses: | No |
Acorns Key Parameters Evaluation
Trading Account Opening
To start investing with Acorns, create a user account on its website following simple instructions.
Steps to open the user account:
Provide your first and last names, address, and date of birth;
Fill in a risk tolerance questionnaire;
Pass ID verification by providing your ID documents;
Provide your bank details and link your bank account for convenient money transfers.
Additional features of Acorns’ user account allow traders to:
-
Set up and manage their investment plans;
-
Make deposits and withdrawals;
-
View financial statistics and reports;
-
Contact technical support.
Is Acorns Safe?
Acorns ensures security for its client funds due to strict adherence to regulator rules. The company is regulated by SEC and its investment accounts up to $500,000 are SIPC-protected. Moreover, its checking accounts up to $250,000 are protected by FDIC (the Federal Deposit Insurance Corporation).
Advantages
- Regulation by SEC and SIPC
- Reliable oversight and regulation
- FDIC protection
Disadvantages
- Limited investment options
- Services are available only to the U.S. residents
Commissions and Fees
Acorns charges management fees that vary depending on the chosen plan: Personal plan costs $3 per month and Family — $5 per month. The company does not charge transaction, trading, or withdrawal fees.
| Broker | Average commission | Level |
|---|---|---|
|
$3 | |
|
$ | |
|
$2 |
Account Types
Acorns offers a simplified investment platform designed for automated investments through diversified ETF portfolios.
Account type:
To start using the Investment account, follow the below instructions:
-
Download the Acorns app for iOS or Android.
-
Register and create a user account by following instructions in the app. Provide your personal information and fill in a short questionnaire to determine your risk tolerance.
-
Choose your investment plan. Acorns recommends a suitable plan based on your risk tolerance and financial goals.
-
Set up automated deposits. Choose the amount you want to deposit every month and Acorns automates the process.
-
Use the Acorns app to monitor your investments, view their performance, and make necessary corrections. The platform also offers automated rebalancing.
Deposit and Withdrawal
-
Available withdrawal methods are fee-free Wire Transfers and transfers to linked bank accounts.
-
Processing times depend on the chosen method and can take up to several business days.
Investment Options
Acorns provides a wide range of investment services aimed at automation and accessibility. The company offers several investment programs that help its clients easily start and continue investing.
Automated investment plans:
-
Spare change investing (Round-Ups®). This program implies investing small amounts left after purchases to create an investment capital.
-
Scheduled investments. This plan allows users to set up scheduled deposits to maintain stable investment flow.
-
ETF portfolios. These are expert-built portfolios that include ETFs managed by leading investment companies.
-
Retirement accounts (Acorns Later). These are personal retirement accounts with potential tax benefits.
-
Custodial accounts (Acorns Early). These investment accounts are managed by parents until their children reach the maturity age.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Customer Support
Acorns phone support is available during working hours.
Advantages
- Several communication channels
- Access to dedicated managers
Disadvantages
- No 24/7 phone support
Available communication channels include:
-
Email;
-
Phone.
Contacts
| Registration address | 5300 California Avenue, Irvine, CA 92617, USA |
|---|---|
| Regulation | SEC, SIPC |
| Official site | https://www.acorns.com |
| Contacts |
(855) 739-2859
|
Education
Acorns offers various education resources to help its clients understand and optimize their investment strategies. These resources are available on its website and in the mobile app.
Acorns Academy
This resource offers comprehensive educational materials on different investing aspects, including:
-
Basics of investing: articles and guides on fundamentals of investing, including its essence and advantages over active management.
-
Investment strategies: detailed information on various investment strategies, including advantages of diversification and dollar-cost averaging.
-
Financial planning: resources that help users set financial goals, understand risk tolerance, and develop efficient savings habits.
-
Retiring planning: guides on planning your retirement that include comparison of various types of retirement savings and ways to maximize your profits through automated investments.
Help Center
Acorns offers a wide range of educational resources to help its users understand the basics of investing and advantages of automated investments:
-
Educational blog. It consists of various articles related to investments, including diversification, advantages of automated investments, and tips for novice investors.
-
Guides on investments: detailed guides on the Acorns investment process, including explanation of automated rebalancing, portfolio diversification, and fee structure.
-
Support and FAQs: the mobile app offers the extensive FAQ section and client support to assist with any questions or problems.
Detailed review of Acorns
Acorns offers a simplified platform, providing access to various investment and tax strategies. The broker is focused on automating investments and their accessibility.
Key features of Acorns:
-
Acorns specializes in automated investing and offers ETF portfolios managed by Vanguard and BlackRock.
-
It is regulated by SEC and offers SIPC protection for investment accounts.
-
The company is developed for client convenience with an intuitive mobile app that simplifies the fund management process. Its clients can use such features as automated rebalancing and fractional shares.
Competitive advantages are:
-
Intuitive platform is simple and easy to use;
-
Personalized investment strategies provide for achieving client financial goals;
-
Transparent fixed fee structure;
-
No transaction or withdrawal fees.
Useful services offered by Acorns:
-
Compound percentage calculator helps clients estimate potential returns from long-term investments.
-
Retirement savings planner allows investors to model future retirement savings and profits.
Investment programs offered by Acorns:
-
Round-Ups® — spare change investing.
-
Recurring Investments — scheduled investments.
-
Acorns Later — retirement accounts.
-
Acorns Early — custodial accounts.
Trading platform (account)
-
Account currency: USD;
-
Deposits/Withdrawals: bank transfers and bank cards.
Trading features:
-
Fractional shares;
-
Automated investing;
-
Low fees;
-
Retirement and custodial accounts.
Features of the Acorns mobile app:
-
Real-time investments. Acorns offers automated investments from every payment made with a bank card.
-
Analytics and reports. Clientss have access to detailed reports on their investments.
-
Educational resources. Acorns offers informational materials to enhance financial knowledge of its clients.
Articles that may help you
Check out our reviews of other companies as well
