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Acorns review 2024

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Acorns
3.9
★★★★★
Finder score
Stock trade fee
$0
Minimum deposit
$0
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Our verdict

Acorns is a robo-advisor that helps beginners invest their spare change in low-cost ETFs. Plus, invest in individual stocks with Acorns Premium.

Consider Acorns if you want a beginner-friendly platform for investing passively in ETFs. Access individual stocks with Acorns Premium for $9 per month. Look elsewhere if you want a robo-advisor that offers tax-loss harvesting.

Best for: Beginner and hands-off investors who want to invest with little effort.

Pros

  • Automated ETF investing
  • Spare change investing
  • Numerous investment accounts available, with taxable and IRA options
  • Beginner-friendly app with educational resources
  • Customize your portfolio with individual stocks with Acorns Premium
  • Acorns' plans give you access to banking, learning and other services in addition to investing

Cons

  • No tax-loss harvesting
  • You'll need to pay a monthly fee of $3, $5 or $9 depending on the plan you choose

In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews
  • Ask a question

How we rated Acorns’ features

Fees

★★★★★

Its flat-rate subscription fees of $3, $5 and $9 per month are predictable but can make the platform more expensive if you have little funds invested. Acorns charges $50 per ETF you transfer to another broker.
Minimum deposit requirement

★★★★★

Acorns has no minimum deposit requirement.
Account selection

★★★★★

Access individual and custodial brokerage accounts and traditional, Roth and SEP IRAs.
Tax advantages

★★★★★

Acorns offers IRAs but no tax-loss harvesting.
Customer support

★★★★★

Quickly connect with Acorns in three ways, including live chat.
Customer feedback

★★★★★

Acorns has largely negative reviews across the Better Business Bureau (BBB) and Trustpilot.
Mobile app

★★★★★

Acorns is highly-rated among Apple and Android users.

To learn how our star ratings are calculated, read our methodology at the bottom of the page.

Acorns is best for beginners and hands-off investors

Acorns is best for new investors looking for guidance or those who prefer the ease and convenience of automated portfolio management. With a simple and easy-to-navigate app, features that help you automatically save and a straightforward investment strategy, Acorns removes the guesswork that impedes many potential investors.

What you can trade on Acorns

  • Stocks (Premium subscription only)
  • ETFs

Account types available with Acorns

  • Individual brokerage
  • Custodial brokerage
  • Traditional, Roth and SEP IRAs
Dive deeper What is an IRA?

Is Acorns legit?

Yes. Acorns Advisers is a registered investment advisor with the US Securities and Exchange Commission (SEC). Acorns Securities, an SEC-registered broker-dealer, offers its brokerage services and is a member of the Financial Industry Regulatory Authority (FINRA). And as members of the Securities Investor Protection Corporation (SIPC), the securities in your account are insured up to $500,000.

WATCH: Is acorns legit?

Note: Since the production of this video, Acorns has changed its monthly fees from $1-$5 to $3, $5 or $9 depending on your chosen subscription tier. Acorns’ lowest subscription tier will cost $36 per year.

Where Acorns shines

Acorns champions micro-investing, a strategy that facilitates wealth building through small incremental investments. This is primarily done through its Round-Ups feature, which lets customers automatically save and invest spare change from everyday purchases made with the Acorns debit card. Customers can also use the Acorns browser extension to earn bonus investments on their purchases — similar to earning cash back with Rakuten or Honey — when they shop at over 15,000 partner brands.

Passive micro-investing, coupled with Acorns’ portfolio of curated exchange-traded funds (ETFs), makes it a suitable option for hands-off investors looking for a low-cost robo-advisor. Meanwhile, its account options and bundled online banking provide a convenient all-in-one service for customers. Subscribers to Acorns’ Premium plan also have access to Custom Portfolios, a new feature that lets you add individual securities to your portfolio.

Signing up with the platform also gives you access to Acorns Later , which offers a Traditional IRA, Roth IRA and SEP IRA, along with the ability to set up automatic recurring investments.

Where Acorns falls short

While Acorns takes the reins in terms of portfolio management and rebalancing, it lacks automatic tax optimization processes that minimize the tax impact on customers — a feature several other robo-advisors offer. An optional tax-loss harvesting feature could give customers more value from their investments, allowing them to realize losses to offset capital gains without unbalancing their portfolio allocation.

Acorns’ plans

PlanMonthly priceFeatures
Acorns Personal$3
  • Investment account
  • Retirement account
  • Checking account
Acorns Personal Plus$5
  • All features included in Acorns Personal
  • Premium educational resources, including live Q&A sessions with financial experts
  • Earn Rewards Match
Acorns Premium$9
  • All features included in Acorns Personal Plus
  • Benefits hub
  • Custom portfolio
  • Acorns Early investment account for kids

Acorns’ fees

Minimum deposit*$0
Monthly fee$3 for Personal; $5 for Personal Plus; $9 for Premium
Trade fees$0
Inactivity fee$0
Wire transfer (domestic and international)$0
Returned check, ACH or stop wire transfer fees$0
Outgoing account transfer fee$50 per ETF transferred

*You must have funds in your account to start investing, either through Round-Ups or a one-time investment of at least $5.

Acorns’ platform is easy to use

As a set-it-and-forget-it investing app, the Acorns platform is by no means overwhelming. No stock charts or news feed. No watchlists or company metrics. Just a simple platform that lets you save, invest and focus on the growth of your portfolio.

Acorns’ app

Investors will find their portfolio values front and center, as well as a snapshot of their different accounts. Additional tabs include banking, an education center and access to Acorns Earn, where you can earn bonus investments when shopping.

Acorns review

Acorns’ app store reviews

Google Play app reviews4.7/5 stars based on over 302,950 reviews
Apple App Store app reviews4.7/5 stars based on over 891,475 reviews

Acorns’ customer support

Connect with Acorns support in three ways:

  • Email support
  • Phone
  • Online chat

    How to open an account with Acorns

    1. Click the “Sign up now” button below.
    2. Enter your email and password and select Create Account.
    3. Provide your name, date of birth, citizenship, address and phone number. Then, enter the one-time passcode sent to your phone and select Confirm.
    4. Enter your Social Security number, answer regulatory questions and link your bank account.
    5. Choose a plan and a portfolio theme.
    6. Deposit funds or sign up for automatic investing.

    Eligibility and required information

    • US citizen and resident
    • Valid Social Security number or Tax ID number
    • Valid bank account or credit card
    • Over the age of 18

    Sign up now

    How safe is Acorns?

    The Acorns app is considered safe and secure. Bank login information isn’t stored on its servers and it employs two-factor authentication for additional account security. Securities in customers’ investment accounts are protected up to $500,000 with the Securities Investor Protection Corporation (SIPC).

    Compare Acorns to other platforms

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    Acorns

    ★★★★★

    Finder rating 3.9 / 5

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    Available asset types

    Stocks, ETFs


    Stock trade fee

    $0


    Minimum deposit

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    How we rate trading platforms

    ★★★★★ 5/5 — Excellent

    ★★★★★ 4/5 — Good

    ★★★★★ 3/5 — Average

    ★★★★★ 2/5 — Subpar

    ★★★★★ 1/5 — Poor

    We analyze top online trading platforms and rate them one to five stars based on factors that are most important to you. These factors include fees, securities available for trade, customer support, customer feedback, platform resources and overall reliability.

    For a complete breakdown of how we score each category, read the full methodology of how we rate robo-advisors.

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    Matt Finder

    Editor, Investments

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