Investing Shouldn't be Hard.

Acorns is a micro-investing app that helps you grow your wealth with just a few cents at a time – By rounding up purchases and investing the difference.

Quick Summary:

Acorns is a micro-investing app that helps individuals invest small increments of money through round-ups. When you open an account with Acorns and opt-in for “round-ups,” debit card purchases are rounded up to the nearest dollar. They also offer retirement accounts and custodial accounts if you have a family.

Overall Rating:

Tools & Features:

Ease of Use:

Price:

PROS

• No minimum investment
• Simplicity
• Micro-investing

CONS

• Limited investment options
• High fees
• Lack of control

Price:

$3 – $9/mo

Features:

Rounds up transactions to the nearest dollar and invests the difference

1% – 3% Cashback at popular retailers

Automatic Investing

Mobile App:

Yes

Current Promotions:

None listed

SIGN UP FOR FREE

In our Acorns Review 2023, we’ll dive into the ins and outs of this beginner-friendly investing app so you can decide if it’s the right investment tool for you.

What is Acorns?

Imagine if your spare change could grow into a thriving investment account. That’s the magic of Acorns, a smartphone app that allows beginners to start investing with just a few dollars. Acorns helps users grow their wealth over time through its unique feature of rounding up transactions from your linked accounts and investing the difference. Once the rounded-up transactions reach $5, Acorns invests that amount in a portfolio and ETFs and Bonds based on your pre-selected risk tolerance.

Note: The average Acorns user rounded up $46.82 in spare change in 2022, according to Acorns research.

Acorns is designed for people who want a simple, hands-off approach to investing. The app offers the following features:

• Links your credit card and checking account
• Rounds up each transaction to the nearest dollar
• Invests the difference in a pre-selected Acorns investment portfolio

This helps you to start building your nest egg effortlessly. Acorns also offers custodial investment accounts for kids through Acorns Family, making it a great option for the whole household.

How Does Acorns Work?

Acorns is a micro-investing app that helps individuals invest small increments of money through round-ups. When you open an account with Acorns and opt-in for “round-ups,” debit card purchases are rounded up to the nearest dollar.

Once the round-ups reach five dollars, Acorns automatically invests the money on your behalf, making it a truly seamless investing process.

The investments are made based on a pre-selected portfolio based on your desired risk tolerance – from aggressive to conservative.

Round-Up Example:

1. You buy a coffee for $3.50
2. Acorns rounds up the purchase to $4.00
3. The difference: $0.50 is set aside
4. Once your round-ups reach $5, that amount is automatically invested based on your investment selection.

There are also round-up multipliers – you can adjust your round-ups to be 2x, 3x, or even 10x, the rounded amount to magnify your investing.

Once you open and select your account type ( I opened an Acorns Personal), you connect your account, choose a level of risk tolerance, and let the app do the rest. I was able to open my account in a matter of minutes.

When I opened my account, I selected an “Aggressive” account comprising 55% VOO, 30% IXUS, 10 % IJH, 5% IJR. I also set my round-ups to 3X and recurring cash deposits to $30 daily.

Who Should Use Acorns?

Best For:

Beginner Investors: If you’re unsure how to get started, Acorns makes it easy by automating the entire investment process.

Set it and forget Investors: Investors who want a way to invest without thinking too hard.

Investors with a tight budget: If you don’t have hundreds or thousands of dollars to invest, the round-up functionality of Acorns makes it easy to start investing with just a few cents at a time.

Key Features

The secret sauce behind Acorns lies in its innovative approach to investing. The app simplifies the investing process and aids in wealth creation by rounding up transactions from your linked accounts and investing the surplus, all without your active realization.

We’ll explore further how Acorns facilitates this.

Round Up Transactions

Acorns’ “round-up” feature is the heart of its micro-investing strategy. When you make a purchase with a linked debit or credit card, the app rounds up the transaction to the nearest dollar and moves the difference from your linked bank account into your investing account. Hence, without active effort, you consistently investing small amounts of money.

To boost your investments further, Acorns also offers “Round-Up Multipliers,” which allow you to multiply your round-ups by two, three, or even ten times. This means you can invest even more spare change with each transaction, accelerating your savings growth. You can turn on and off round-ups as you please.

Account Types

While Acorns’ primary feature is micro-investing, the platform also offers 3 account types with various features to suit different needs. From personal investment accounts to family plans, there’s something for everyone, including the option to have a linked account.

Whether you’re looking to save for retirement, build a college fund, or just

Acorns Personal

For just $3 per month, Acorns Personal gives you access to a comprehensive suite of financial tools. In addition to the Acorns Invest platform, this tier includes Acorns Later – a retirement account offering Traditional IRA, Roth IRA, and SEP IRA options. You’ll also get Acorns Checking, a cash management account with direct deposit, mobile check deposit, over 55,000 free ATMs, and a debit card that applies Acorns and Acorns Later investing to every purchase.

Acorns Personal Plus

• Investing
• Personal, diversified investment account
• Round up your spare change
• Retirement account with tax advantages
• Investment accounts for kids
• Add stocks to your diversified portfolio

Acorns Premium

For $9 per month, Acorns Premium provides access to a full suite of investing tools for you and your family. When you open a premium account, you can invest in individual stocks – a feature unavailable at the Personal and Personal Plus levels.

• Investing
• Personal, diversified investment account
• Round up your spare change
• Retirement account with tax advantages
• Investment accounts for kids
• Add stocks to your diversified portfolio

Banking

• All digital banking with no hidden fees
• Debit card that invests with every swipe
• Auto-invest a piece of each paycheck
• Save with an Emergency Fund

Education

• Basic courses to get you started
• Live Q&A with financial experts
• Regular market reports to stay in the know
• Live onboarding guidance

Earning

• Earn bonus investments at 15K+ stores
• Up to 30% invested while you shop
• Shop with our Chrome & Safari extension
• Extra bonus investments on qualifying rewards

Benefits

• GoHenry debit card and learning app for kids
• Complimentary will, valued at $259
• $10,000 life insurance policy for eligible customers

Investment Options

When you invest through Acorns, you must select a “theme” – either core portfolios – which gives exposure to a wide range of ETFs and bonds, depending on your risk tolerance. The other theme is “ESG” portfolios. These portfolios provide returns similar to traditional investments, with the added benefit of exposure to socially responsible companies. You can invest in bitcoin ETFs through the ESG portfolios.

1. Select a Theme – Core Portfolios or ESG Portfolios
2. Select a level of Aggressiveness Ranging from Aggressive to Conservative.
3. Once you select your level of aggressiveness, Acorns will automatically invest in stocks and ETFs that fit the risk profile.

To provide context, an aggressive portfolio is comprised of primarily large cap stocks, while a conservative portfolio is comprised of short term government and corporate bonds.

In my opinion, the “aggressive” portfolio isn’t that aggressive because 55% of it invests in VOO, which is simply an S&P 500 index fund, but perhaps this is intentional because Acorns is targeted toward beginner investors.

User Experience

Acorns is available for desktop and mobile devices, and both offer a sleek design and easy-to-use interface.

Desktop

When you log in to the Acorns website, your accounts are neatly organized, and it shows the available balances in each account.

I did find it slightly annoying that despite only opening a “Personal Account,” the homepage showed the option to set up a “Later” account and an “Early” account instead of hiding them from view.

You can also see “bonus” amounts earned from places you can shop at. Although I find it somewhat odd that they advertise Acorns as an investing and savings app, but, in my view it encourages you to spend by showing you what stores you can earn cash back at.

Mobile

Most Acorns users, including myself, use the mobile app more frequently than the desktop app.

The mobile app is nicely designed and has a similar feel compared to the desktop. I could log in to my Acorns account using facial recognition to avoid fumbling with long passwords.

Like the desktop, I did find it slightly annoying that despite only opening a “Personal Account,” the homepage showed the option to set up a “Later” account and an “Early” account instead of hiding them from view.

PROs and CONs Explained

PROS

Low Minimum Investment: You can start investing once your round-ups reach just $5, meaning you don’t need hundreds of dollars to buy just 1 stock.

Simplicity: The beauty of Acorns is its simplicity. Many users like the “set-it-and-forget” approach to investing and are often overwhelmed by constantly having to make investment choices.

Micro Investing: For those who don’t have the financial means to invest large amounts of money or don’t want to invest right away, Acorns’s micro-investing strategy is a great way to get started.

CONS

Limited investment options: The investment options available through Acorns are limited to a pre-selected set of ETFs, which may not be the best fit for everyone’s risk tolerance and investment goals.

Lack of control: With Acorns, you do not have the option to choose which specific stocks or bonds you want to invest in. You also can’t control your risk by adjusting your allocation or by choosing different funds.

High fees: The fees associated with using Acorns can be relatively high, especially when compared to other investment options. The app charges a monthly fee of $3, $5, or $9, depending on the plan, which can eat into your returns over time.

Pricing and Fees

While Acorns’ unique investing approach is undoubtedly attractive, it’s equally important to reflect on the platform’s fees and its competitiveness in the market.

Acorns offers three subscription tiers: Personal for $3/month, Family for $5/month, and Premium for $9/month. Each tier provides a range of features, with the higher-priced options offering more extensive benefits such as access to Acorns Early and Acorns Grow.

Acorns doesn’t charge any other management fees or commissions. However, you will have to pay any fees that are charged by ETFs you have invested in. In addition, there is a monthly fee depending on which subscription tier you have:

• Personal: $3 month
• Family: $5 month
• Premium: $9 month
• Management Fees: Varies depending on the funds you are invested in.
• Withdrawal Fees: None for investing accounts. Fees may apply for retirement accounts.

Fee Comparison

On an absolute basis, Acorns fees aren’t high $3 – $9 per month is nothing to most people.

Compared to other robo-advisors, Acorns’ fees can be relatively high for users with small investment balances. For example, a $36 annual management fee on a $1,000 balance equates to a 3.6% fee. This is considerably higher than the standard management fee of 0.50% charged by many robo-advisors, according to Investopedia.

However, as your investment balance grows, Acorns’ fees become more competitive. At a $10,000 balance, you’d be paying a more reasonable 0.36% fee per year. Reflecting on your investment balance and comparing fees is crucial to ascertain whether Acorns aligns with your financial needs.

Acorns Earn: Boost Your Investments

In addition to its core investment features, Acorns also offers a unique rewards program called Acorns Earn. This program helps you boost your investments by earning extra cash through cashback partnerships and a browser extension.

Because credit card points can be so lucrative days with many top cards offering up to 3% cashback, by offering a cashback program Acorns aims to attract users who might be otherwise turned off by losing credit card points.

Cash Back Partnerships

Through Acorns Earn, you can shop with over 12,000 brands, including:

• Airbnb
• Blue Apron
• Macy’s
• Warby Parker

And receive cashback rewards directly into your Acorns account. This means you can grow your investments simply by shopping with participating brands.

To make the most of these cashback rewards, follow these steps:

1. Shop through the Acorns app or website.
2. Use your linked payment method to make your purchases.
3. Acorns will automatically invest cashback rewards into your account, helping you grow your wealth even faster.

Best Alternatives

Acorns faces competition from other micro-investing apps and robo-advisors, each with its own unique features and pricing structures.

For those seeking a more comprehensive investment platform or wanting access to human financial advisors, alternatives like Betterment or Stash may be more suitable.

Stash

Both Acorns and Stash offer micro-investing features, but there are some key differences between the two platforms. While Acorns focuses on rounding up transactions and investing the difference in a pre-selected portfolio, Stash allows users to invest in individual stocks and choose from a broader range of investment options.

In terms of fees, both platforms charge a monthly fee, with Acorns’ fees ranging from $3 to $9 and Stash’s fees starting at $1 for its most basic plan. However, Stash may offer more flexibility and control over investments for users looking for a more hands-on approach to micro-investing. At the same time, Acorns is better suited for individuals who want a more hands-off approach.

Betterment

Acorns and Betterment are both robo-advisory platforms that offer automated investment management services. However, Betterment provides a more comprehensive range of investment options and lower fees for larger account balances.

Betterment’s annual fee is 0.25%, which is lower than Acorns’ fees for small balances.

For example, you would need more than $10,000 invested with Acorns for a comparable fee rate. For users with larger investment balances, Betterment may be a more cost-effective option, offering more extensive investment options and lower fees.

The Bottom Line

Acorns offers a unique approach to investing, making it an attractive option for beginners and those looking to build a savings habit without too much leg work.

With its innovative rounding-up feature, Acorns makes it easy to grow your wealth without even realizing it. That said, if your employer offers a tax-deferred retirement account like a 401K or a 403B, you may be better off investing through that account as years of tax-free growth can add up.

Lastly, I would not consider myself a beginner investor and don’t find the app’s novelty particularly useful. I can see how some users like the idea of investing micro amounts of money under the veil of not realizing those round-ups are being invested, so there is a specific time and place for this app.

Overall, that app isn’t a bad idea for pure beginner investors, but more experienced investors are likely better off investing independently.

Frequently Asked Questions

Is Acorns worth using?

Acorns offers a convenient way to invest money and save for retirement, making it an attractive option for beginners. Its user-friendly app has high ratings, micro-investing feature, and diversified funds that help make investing safe and secure. Whether Acorns is worth using depends on your investment goals and whether the fees are worth it.

What is the downside to Acorns?

Acorns’ fees can be expensive, especially on small balances, and there is no tax strategy available. Additionally, you won’t have access to more advanced features like other robo-advisors offer. All this makes it hard to justify Acorns for those starting with lower sums to invest.

Is Acorns legit and safe?

Acorns is a legitimate and safe app, employing 256-bit encryption, two-factor authentication, and securities protected up to $500,000 with the Securities Investor Protection Corporation (SIPC). All of this makes it an excellent choice for securely managing your finances.

Is Robinhood or Acorns better?

It depends on the investor’s personal preferences: for hands-on investment, Robinhood is the better option for trading individual stocks, ETFs, and Cryptocurrencies. Meanwhile, Acorns offers more features for hands-off investing, such as impact investing and custodial accounts. Ultimately, by comparing Robinhood vs. Acorns, you can choose the platform that best suits your needs.

Read our complete Acorns vs Robinhood Review.

This Acorns vs Robinhood Review will help you decide which investing platform is best suited for you.

Quick Summary

Feature
Trading Commissions	$0	$0
Type of Investment Account	Taxable Brokerage and IRA	Taxable Brokerage
Fractional Share Trading	No	Yes
Cryptocurrencies	No	Yes
Mobile App	Yes	Yes
Margin Trading	No	Yes
Reoccurring Fees	Yes, $3 and $5 a month platform fee	No

What Is Acorns?

Acorns is a micro-investing and banking app that allows individuals to invest their spare change by rounding up purchases to the nearest dollar and investing the difference.

Acorns is built to make investing available to people who can’t buy large quantities of securities but instead focus on micro-investing through fractional shares.

Whenever you make a purchase, Acorns automatically rounds up that purchase to the nearest dollar and invests in a portfolio of ETFs based on your risk tolerance.

Founded in 2012, the company has 8.2 million customers and $3 billion in assets under management (AUM).

What Is Robinhood?

Robinhood is a mobile-only discount brokerage that offers commission-free stock and options trading with an account minimum of just $1.

Robinhood aims to democratize trading by becoming one of the first brokerages to offer commission-free trading.

The company is publicly traded on the NASDAQ and has 31 million users.

Robinhood is headquartered in San Francisco, CA.

How Does Acorns Work?

Acorns is a micro-investing app that helps individuals invest small increments of money through round-ups. When you open an account with Acorns and opt-in for “round-ups,” debit card purchases are rounded up to the nearest dollar.

Once the round-ups reach five dollars, Acorns automatically invests the money on your behalf, making it a truly seamless investing process.

Note: You cannot buy individual stocks or bonds, only a type of portfolio ranging from conservative to aggressive investing strategies.

Try Acorns today and get a $20 bonus

Round-Up Example

1. You buy a coffee for $3.50
2. Acorns rounds up the purchase to $4.00
3. The Difference $0.50 is set aside
4. Once your round-ups reach $5, that amount is automatically invested based on your investment selection.

There are also round-up multipliers – you can adjust your round-ups to be 2x, 3x, or even 10x, the rounded amount to magnify your investing.

How Does Robinhood Work?

Robinhood is a commission-free trading app that allows you to buy and sell stocks, options, ETFs, and cryptocurrencies.

You can trade stocks, ETFs, US options, and cryptocurrencies through Robinhood with a taxable investment account. Unlike traditional brokers, Robinhood does not provide investment advice or guidance like a full-service brokerage.

When you open an account with Robinhood, there are two types of accounts: an instant account, which is free, and Robinhood Gold, which costs $5 monthly.

Head-to-Head Comparison

Below, we will look at 5 key features of Acorns and Robinhood and see how these online brokerages stack up against each other.

Investment Options

Winner: Robinhood

Robinhood offers a wide range of individual stocks, ETFs, options, ADRs, and cryptocurrencies. However, Robinhood does not allow trading in mutual funds, bonds, closed-end funds, or foreign stocks. Meanwhile, Acorns only allows you to invest in a “type” of a portfolio based on a specific strategy: Conservative, Moderately Conservative, Moderate, Moderately Aggressive, and Aggressive.

Acorns does allow individual stock trading like Robinhood does.

So, if you’re looking to trade individual securities, Robinhood is a better option.

Robinhood Investment Options:

• U.S. Exchange-Listed Stocks and ETFs
• Options Contracts for U.S. Exchange-Listed Stocks and ETFs
• ADRs for over 650 Globally-Listed Companies
• Crypto such as bitcoin and six other cryptocurrencies

You cannot trade the following with Robinhood:

• Mutual Funds
• Bonds
• Closed-end funds
• Foreign-domiciled stocks

Acorns Investment Options:

Acorns offers 5 different investment portfolios in its Core account:

• Conservative
• Moderately Conservative
• Moderate
• Moderately Aggressive
• Aggressive

The 5 portfolios are comprised of various ETFs, but you don’t have the option to pick individual stocks or bonds, only the level of aggressiveness in your portfolio.

The type of portfolio you select will determine the composition of your portfolio. For example, a sample conservative portfolio will likely contain bond ETFs such as:

iShares Short Treasury Bond – SHV

SPDR Bloomberg Barclays 1-3 Month T-Bill – BIL

Goldman Sachs Access Treasury 0-1 Year – GBIL

JPMorgan Ultra-Short Income – JPST

iShares Ultra Short-Term Bond – ICSH

You can find the complete list of investment options on Acorn’s website.

Acorns ESG

Acorns recently released a set of ESG portfolios (environmental, social, and governance.) Sustainable portfolios are made of Exchange Traded Funds (ETFs). Acorns offers 4 ESG portfolios – Moderately Conservative, Moderate, Moderately Aggressive, and Aggressive.

If you are an existing Acorns user and want to invest in an ESG portfolio, you must sell your core portfolio holdings, which may trigger a taxable event. This won’t apply to new users.

Pricing and Fees

Winner: Tie

While neither Robinhood nor Acorns charges any stock trading fees, there are other fees investors should be aware of, making it a Tie between Robinhood and Acorns.

Acorns doesn’t charge any transaction fees, withdrawal fees, or commissions on trades, making it a low-cost investment option for many individuals.

Individuals who use acorns must pay a $3/mo fee for personal accounts and $5/mo for family accounts. A Family account includes unlimited investment accounts for children. Plus, personal investment, retirement, and checking accounts, bonus investments, and money advice.

At the same, a standard Robinhood account is free to use. But if users want advanced features like margin trading, third-party market research, and Level II market data from Nasdaq, then they must upgrade to Robinhood Gold for $5 a month.

Robinhood Fees

• Trading Fees: Robinhood charges no trading fees or commissions for buying and selling stocks, ETFs, options, and cryptocurrencies.
• Cryptocurrency Transaction Fees: Robinhood charges a small fee for cryptocurrency transactions. The fee varies depending on the cryptocurrency being traded and market conditions.
• Deposit and Withdrawal Fees: Robinhood does not charge any fees for deposits or withdrawals made through ACH bank transfers. However, there may be fees associated with wire transfers.
• Account Fees: Robinhood does not charge any account fees, including annual fees or inactivity fees.
• Regulatory Fees: Robinhood may pass on certain regulatory fees, such as SEC and FINRA fees, to its customers.

Account Types

Winner: Acorns

Acorns offers 3 types of accounts: a taxable brokerage, an IRA retirement account, and a custodial account for children. Meanwhile, Robinhood only offers a taxable brokerage account. Robinhood does not offer retirement accounts or any other investment accounts.

If you want to open an account outside of a taxable brokerage, Acorns offers users way more options.

Robinhood Account Types

• Robinhood Instant: Robinhood Instanta is your standard taxable brokerage account with $0 monthly fees and is the type of account most Robinhood users have. With a Robinhood Instant account, you have access to the following features:

Instant Access To Unsettled Funds. A standard Robinhood account offers you access to up to $1,000 in unsettled funds. This means you can use your unsettled funds to trade right away instead of waiting 3-5 days for the funds to settle.

Unlike a Gold account, the Robinhood instant account does not grant users access to margin trading, advanced research, and advanced market data.

Robinhood Gold: Robinhood Gold is a more advanced account than Robinhood Instant. With a Robinhood GOLD account, you have access to margin trading, larger access to unsettled funds, third-party market research, and Level II market data from Nasdaq.

A Robinhood Gold account is $5 per month.

Margin Trading. Your first $1,000 of margin is included. For amounts over $1,000, you’ll pay 2.5% yearly interest. Your interest is calculated daily and charged to your account at the end of each billing cycle. It’s important to note that your margin rate is subject to change in Robinhood’s terms and conditions.

Instant Access To Unsettled Funds. With a Robinhood Gold account, you have instant access to funds transferred more than $1,000. In other words, instead of waiting a few days for your money to settle, you can use your cash immediately to start trading.

With a standard Robinhood account, you have access up to $1,000 in unsettled funds.

Third-party Market Research. Gold members have unlimited access to Morningstar’s premium research reports. There are approximately 1,700 stocks that have research updated regularly.

Level II Market Data. With Level II access, Gold members can view Level II Market Data. Members can view market data that shows multiple bid/ask prices from Nasdaq. With this information, investors can better understand the demand for security and availability.

Acorns Account Types

Acorns offers three types of investing accounts: a taxable brokerage, an IRA, and a custodial account.

Invest [Taxable Brokerage]

It is a taxable brokerage account like Robinhood’s account. If you were to opt in, an Invest account automatically invests your rounded-up funds into a portfolio of ETFs based on your designated risk tolerance.

Acorns automatically rebalances your portfolio based on your preselected risk tolerance.

Later [IRA]

It is an Individual Retirement Account (IRA). Acorns automatically selects the right type of account based on your long-term goals with a later account.

You can contribute to a Later account on a one-time or recurring basis.

Round-ups are not available with an Acorns Later account.

Early [Custodial]

Is a custodial account opened on behalf of your children, either a UGMA or UTMA account (Uniform Gift to Minors Act or Uniform Transfers to Minors).

If you want to open an Early Account, you need to purchase the Acorns Family Account for $5 per month.

Acorns Early works like your Acorns Invest and Later accounts. You can invest with as little as $5 into a wide range of ETFs. Round-ups are not available with an Early account.

Additional Services & Features

Robinhood offers users access to IPOs at the IPO price, fractional share trading, and cash management. Meanwhile, Acorn’s Earn program and unique $1,500 referral bonus program make it too tough to call a winner.

Other Robinhood Features

• IPO Access. Robinhood offers individual investors public access to upcoming IPOs. This means everyday investors like you and me can purchase securities at the IPO price. IPO access was once only available to the ultra-wealthy and institutional investors.
• Fractional Share Trading. You can invest in 5,000 stocks and ETFs by purchasing fractional shares starting at $1, or as little as 0.000001 shares. Most popular fractional shares include Apple, Tesla, Amazon, and certain over-the-counter and American depositary receipt socks. 
• Cash Management. Robinhood cash management enables you to earn interest on your swept cash. You will also get a debit card issued by Sutton Bank. You can use your debit card to buy groceries, pay bills, send checks, etc. Your cash earns a 0.30% annual percentage yield through Robinhood’s network of bank programs.
• Stock Lending. Stock lending allows you to earn extra income on stocks you already own. When you enable stock lending, Robinhood works to find borrowers, and you get paid if there is a match.If your stocks are on loan, you’ll still be able to sell them anytime and realize gains or losses as you would otherwise. You need to have at least $5,000 in your account to be eligible for Stock Lending.

Other Acorns Features

• Acorns Earn: With Acorns Earn, when a user purchases from one of Acorn’s 350 brand partners, the brand partner will automatically invest a set amount or percentage directly into your investment account. The Acorn’s Earn account also offers a Chrome plug-in that makes earning simple when shopping online. Popular partner brands include Apple, Macy’s, Nike, Walmart, and Warby Parker, to name a few.
• Acorns Spend: With Acorns Spend, you can access all the standard features of a standard checking account, including a debit card and ATM access. There is no minimum balance or overdraft fees, plus access to 55,000 ATMs globally.

Mobile Experience

Winner: Acorns

The Robinhood app is extremely user-friendly. The company was in hot water for making it too easy for users to trade by having enticing features such as confetti and free stock after a trade is executed. You can’t win, can you? However, the Robinhood app does have a lower rating than Acorns in both the Apple and Google Play stores, so Acorns takes the ribbon here.

Robinhood

Acorns

Pros & Cons

Who Should Use Robinhood and Acorns?

The Bottom Line

In reality, it’s impossible to say Robinhood vs. Acorns is better. While both investing apps target younger investors, they have different operating models.

Robinhood focuses primarily on active traders and investors who are more interested in actively trading stocks, options, and cryptocurrencies.

Meanwhile, Acorns focuses more on a long-financial plan by only offering portfolios based on an individual’s level of risk they are willing to take; they do not enable individual stock trading and, therefore, is not geared towards active traders.

So, if you are an active trader, Robinhood is a better choice. But if you are looking to build long-term wealth and not consistently trade, then Acorns is the better option.

Either way, Happy investing!

Try Acorns Today

TradingView has been the go-to platform for millions of traders worldwide, but is it still the best choice for you in 2024?

Quick Summary:

TradingView is a popular charting platform offering a free option for traders who are just starting out or looking for basic charting features. The TradingView Basic Plan provides access to a comprehensive charting platform with limited functionalities.

Overall Rating:

Stock Analysis:

Tools & Features:

Ease of Use:

Price:

Best For:

Fundamental investors

Day traders

PROS

• AI-Driven Tools
• Custom and prebuilt screeners
• Trading community

CONS

• Can be overwhelming for beginners
• Steep Price Point
• Limited Broker Integrations

Price:

Free – $59/mo

Features:

• Technical analysis tools
• Real-time market data
• Robust charting software
• Screeners
• Broker connectivity
• Customizable alerts

Mobile App?

No

Current Promotions:

30 Day Free Trial

Try Trading View

Are you an active trader or investor seeking a comprehensive platform that caters to all your charting and analysis needs? Look no further.

In this TradingView review, we’ll dive deep into the world of TradingView, dissect its features, pricing plans, and even explore some great alternatives. Get ready to discover if TradingView is the perfect fit for your trading journey.

Key Takeaways

• TradingView offers a variety of charting and analysis tools for traders & investors.
• It has unique features like technical indicators, customizable alerts, broker integration & more.
• Consider TradingView alongside alternatives to find the best fit for your trading goals.

What is TradingView?

TradingView is a comprehensive charting and analysis tools platform the covers including stocks, ETFs, Forex, and Cryptocurrencies. Traders and investors aiming to stay competitive with the latest market data and robust trading strategies find this platform indispensable.

This powerful platform offers a wide array of features and tools that cater to both beginners and experienced traders. With its sleek design and user-friendly interface, TradingView provides an invaluable resource for anyone looking to fine-tune their trading strategy and boost their market knowledge.

TradingView distinguishes itself with a host of features, including:

• extensive charting tools
• technical indicators
• broker integration
• an active community of traders sharing ideas and insights

What’s more, TradingView offers a fantastic free plan, allowing you to dip your toes into the world of stock charts and trading ideas without breaking the bank. With TradingView free, you can experience the platform’s features and benefits at no cost.

User Base

With over 30 million users, TradingView’s versatility and appeal to traders of all skill levels, from beginners to seasoned pros, is evident. The platform offers a variety of features and tools that cater to different skill levels, making it a one-stop shop for all your trading needs. For example, beginners can benefit from basic charting and real-time market data, while more advanced users can make use of custom scripts and the platform’s technical analysis tool.

Long-term, fundamental investors can also take advantage of TradingView’s free version, which provides essential charting tools for entry and exit points. On the other hand, active traders who focus on technical analysis will find a treasure trove of features, including custom time intervals, broker integration, and the ability to create custom indicators using TradingView’s Pine Script language.

Unique Features

TradingView’s unique features tailored to a variety of trading styles and preferences is one of its standout aspects. The platform boasts an extensive range of charting tools, technical indicators, and real-time data to help users make well-informed decisions on potential trades.

But perhaps the most enticing aspect of TradingView is its bustling community of traders and investors, where you can share your insights, gather tips, and learn from others’ experiences. The platform’s Ideas feature allows users to exchange trade ideas, educational content, and custom scripts, fostering a collaborative environment where everyone can grow and thrive in their trading journey.

Key Features

TradingView is packed with a plethora of features that make it an essential tool for traders and investors. Some of its features include:

• Advanced charting tools
• Technical indicators
• Fundamental analysis
• Broker integration for trading execution
• Live and paper trading

This section delves into TradingView’s key features, including:

• Charting tools
• Technical indicators
• Fundamental analysis capabilities
• Social trading features
• Customizable alerts and notifications
• Advanced drawing tools
• Backtesting and strategy development
• Real-time market data and news

Charting Tools

TradingView offers an impressive array of charting tools, including multiple chart types, timeframes, and drawing tools for detailed market analysis.

Users can leverage over 90 drawing tools to better understand market movements and identify potential trading opportunities:

• Lines
• Trends
• Shapes
• Patterns
• Annotations

Moreover, the platform supports different timeframes with its screeners, ranging from 1-minute to 1-month intervals, catering to various trading styles.

Technical Indicators

TradingView users can access a broad range of technical indicators, including custom indicators created through the platform’s Pine Script language. This enables traders to create their own custom scripts, tailoring their technical analysis to their specific needs and preferences.

The platform’s Pine Script language may be daunting for some at first, but with a bit of practice and the wealth of resources TradingView provides, you’ll be able to create your custom indicators in no time.

Plus, you can share your creations with the TradingView community, gaining valuable feedback and insights from fellow traders.

Fundamental Analysis

TradingView excels in its fundamental analysis capabilities, providing users with essential fundamental data. The platform supports fundamental analysis with financial data visualization on charts, such as income statements, balance sheets, and cash flow metrics.

This enables users to better understand a company’s financial health and make more informed investment decisions.

Screeners

TradingView offers screeners for stocks, ETFs, Forex, and Crypto.

Broker Integration and Trading Execution

Another cool feature is broker integration. TradingView offers seamless broker integration with over 30 brokers. With broker integration, users can execute trades directly from the platform’s interface, providing a convenient and efficient trading experience.

This feature offers the added benefit of:

• Having all your trading tools and market data in one place
• Streamlining your workflow
• Enabling you to focus on what matters most – making profitable trades.

Note: Not many of the “big-name” brokers besides TradeStation are compatible with TradingView.

Accessibility and User Interface

Designed for traders and investors of all skill levels, TradingView offers:

• Accessibility and user interface that ensure a seamless and intuitive experience
• A web-based platform and a mobile app for easy access
• Cross-platform synchronization allows you to access your trading tools and data from any device, anytime and anywhere.

Web-Based Platform

The web-based trading platform allows users to access TradingView’s features from any device with an internet connection, making it incredibly convenient for those who need to monitor the markets on the go or switch between devices frequently.

With its clean design and user-friendly interface, TradingView’s web-based platform is a pleasure to use, whether you’re a beginner or an experienced trader.

Mobile App

For those who prefer to trade and analyze on the go, TradingView’s mobile app is available for iOS and Android devices, offering a streamlined experience tailored to mobile trading. The app features:

• Detailed charting
• Comprehensive analysis
• Market research
• Up-to-date information

The Mobile app is well-designed, and easy to use. Once signed-in, you can seamless navigate from charts, ideas, news, and news.

Cross-Platform Synchronization

TradingView’s cross-platform synchronization feature ensures that you have a consistent trading experience across all your devices. You can synchronize your watchlists, alerts, and chart layouts, allowing you to pick up right where you left off, no matter which device you’re using.

This seamless integration ensures that you never miss a beat in the fast-paced world of trading.

PROs and CONS Explained

Pricing and Plans Comparison

TradingView offers 4 pricing plans to suit different needs and budgets, including a free version for beginners.

• Basic Plan (free)
• Pro Plan
• Pro+ Plan
• Premium Plan

Each plan comes with varying features and benefits.

Basic Plan [Free]

The Free Basic plan provides access to essential charting tools, technical indicators, and a limited number of alerts, making it a great starting point for those who are new to trading or simply want to test the waters before committing to a paid plan.

Note: The free plan has some limitations, including only one chart per tab and a maximum of three indicators per chart. So if you are looking for more advanced functionality, you may want to upgrade to a paid tier.

Essential Plan

For those looking to upgrade their trading experience, the Pro plan offers:

• An ad-free experience
• More chart layouts
• Custom time intervals
• Additional technical indicators

The Pro plan costs $12.95 a month if billed annually, or $14.95 a month if billed monthly.

This plan strikes a great balance between features and price, making it a popular choice among TradingView users.

Plus Plan

The Plus plan takes things up a notch, providing advanced charting features, more intraday chart types, and the ability to use up to 10 indicators per chart.

At $24.95 a month, this plan is ideal for more experienced traders who require additional tools and features to fine-tune their trading strategies and stay ahead of the curve.

Premium Plan

For those seeking the ultimate trading experience, the Premium plan provides access to all features, including seconds-based time intervals, up to 25 indicators per chart, and a higher number of alerts, at $49.95 a month the premium plan is its most expensive option.

Given its higher price point, this plan might not be suitable for everyone. Weighing the benefits against the cost is crucial to ascertain if it aligns with your trading requirements.

TradingView Alternatives

While TradingView is a popular option for many traders and investors, it’s worth considering alternatives that might align better with your specific needs and preferences.

This section delves into popular TradingView alternatives like TrendSpider, Finviz, and Stockcharts, which offer a variety of distinct features and tools for traders and investors.

1. Trade Ideas

Trade Ideas is an impressive stock scanner and trading platform that provides real-time data analysis, AI-driven trade suggestions, technical charting, automated trading, plus much more, catering to novice and advanced traders. With a monthly price starting at $84, it’s best suited for those who are serious about trading and investing.

or Read our complete Trade Ideas Review

2. Finviz

Finviz is a web-based platform that caters to both beginners and advanced traders.

They offer stock screening and analysis tools, as well as real-time stock quotes and technical analysis features. Its customizable watchlist and user-friendly interface make it an attractive alternative to TradingView.

or Read our complete Finviz Review.

3. Stockcharts

Stockcharts is another charting platform that offers a range of charting tools and technical indicators for traders and investors. Its user-friendly interface and wealth of features make it a popular choice for those seeking an alternative to TradingView.

However, as with any platform, it’s crucial to assess your trading needs and preferences before making the switch.

Bottom Line

In conclusion, TradingView remains a top choice for active traders and investors, offering a comprehensive set of features, tools, and a large community for sharing ideas and insights. Its versatility and user-friendly interface make it a go-to platform for millions of users worldwide.

You should consider your specific needs and preferences when choosing a platform; alternatives like TrendSpider, Finviz, and Stockcharts may better match your trading objectives and style.

Frequently Asked Questions

Is TradingView worth it?

Overall, Tradingview is an excellent platform with its fast speeds, affordable pricing, range of tools and indicators, and easy-to-use interface. It’s certainly worth considering.

Can TradingView be trusted?

TradingView has earned the trust of 30 million traders – making it a reliable tool for day trading.

How much do you pay for TradingView?

TradingView has four subscription plans ranging from Free to Premium with prices starting at $14.95 per month, or $12.95 per month if you pay annually.

Is TradingView best for beginners?

Based on our research, TradingView seems like a great choice for new traders. It offers price tracking, community engagement, trading, and charting features.

Is TradingView free?

Yes, TradingView offers a free Basic Plan with access to all basic functionalities and the ability to save and share your charts. The paid plans offer additional features and functionalities, but the free version also has some limitations.