The Best Apps Like Acorns For 2022
Whenever you want to start investing, you need an efficient app with which you feel least overwhelmed. Nonetheless, the result will depend on your investing goals, the necessary support, and experience.
Beginner micro-investing platforms like Acorns help you build a diversified portfolio by providing educational resources and low-cost investment options in the most affordable way. However, consider other alternatives if you want an app with more features but a low-cost point.
Below is a comprehensive list of apps like Acorns, some of which come with a bank account and debit card access. They should be the first to try out if you want to start investing with the little you have.
Best Acorns Alternatives to Consider in Your Investment
Robinhood is one of the trading apps with trade commission set at $0, meaning that you won’t pay any fee when you invest in the stock market, trade cryptocurrencies, penny stocks, index funds, etc. Robinhood’s straightforward design and the fractional share trade address the complications of placing trades. Besides, the Robinhood Gold subscription puts you on another investment level with a combination of robust data, strategies, and tools to supercharge your account.
- SoFi Invest
The popular Acorns rival allows you to track stocks, trade your money, ETFs, cryptos, and more. With SoFi Invest, you can actively trade on the platform or let the automation tool do its magic. You don’t need to save lots of cash before indulging in SoFi Invest’s fractional share investment. The little spare change you save can help you buy favorite companies like Facebook, Amazon, and Alphabet. All these options, among others, make SoFi Invest a good place for you to invest and grow financially.
Betterment is one of the pioneers of micro-investing and robo-advisor services. It has now become a darling for many investors seeking to diversify their investment for a reasonable fee.
Unlike Acorns, Betterment won’t let you invest in individual stocks. You can only buy fractional shares of ETF funds based on your portfolio. Also, Betterment charges 0.25% of your assets in addition to advice to tailor your portfolio, instead of a fixed monthly fee.
While Public.com previously followed other apps monetizing trades and transactions, it recently abandoned the practice. Now they rely on the “tipping” system and other revenue streams.
Comparing the price point with Acorns, Public.com has more free features. Besides, it mainly targets Gen-Zers and millennials accustomed to the social media lifestyle. You get a free $10 sign-up bonus when you open an account and make a deposit to trade.
- M1 Finance
M1 Finance works like Acorns regarding advice, investment options, recurring deposits, and integrating your finances and investment portfolio. However, you trade stock freely on M1 Finance. Also, it allows individual stock investing where you deposit money, set your stock, and make index fund selections, something you can’t do with Acorns unless you’re dealing with index fund ETFs.
One of the most popular M1 Finance features is the portfolio rebalancing technique that boosts underperforming funds from the outperforming ones. Choose an investment app that will make your life easier. Investors have different needs, so you better know yours before hunting for an app. Luckily, we have eased the job by highlighting the best Acorns alternatives today.
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