Acorns vs. Robinhood | Which is Better?
Acorns vs. Robinhood | Key Differences
Acorns and Robinhood are both investment platforms that allow users to buy and sell stocks and other securities. However, there are some key differences between the two platforms:
Investment focus: Acorns is a microinvesting platform that allows users to invest small amounts of money in a diversified portfolio of exchange-traded funds (ETFs). Robinhood, on the other hand, is a commission-free brokerage that allows users to buy and sell individual stocks, ETFs, and options.
Fees: Acorns charges a monthly fee of $1, $3, or $5 depending on the level of service selected, while Robinhood does not charge any trading fees. However, Robinhood does offer a paid subscription service called Robinhood Gold that charges a monthly fee and provides additional features such as margin trading and extended-hours trading.
Ease of use: Acorns is designed for beginner investors and has a user-friendly app with features such as automatic investments and round-ups, which allow users to invest their spare change. Robinhood has a more traditional trading platform and may be more suitable for experienced investors.
What is Robinhood?
Robinhood is a commission-free online brokerage that allows users to buy and sell individual stocks, ETFs, and options. The platform was founded in 2013 and is headquartered in Menlo Park, California. Robinhood’s mobile app allows users to place trades, track their portfolios, and receive real-time market data and news.
One of the main selling points of Robinhood is that it does not charge any trading fees, which makes it an attractive option for traders who want to minimize their costs. However, it is worth noting that Robinhood does offer a paid subscription service called Robinhood Gold that charges a monthly fee and provides additional features such as margin trading and extended-hours trading.
Robinhood is designed for self-directed investors who want to manage their own portfolios. The platform does not provide investment advice or recommendations, and it is the user's responsibility to research and make their own investment decisions. It is important to note that investing carries inherent risks, and it is essential to thoroughly research any investment before making a decision.
How Many Users Does Robinhood Have?
Robinhood currently has a total of 15.9 million users, down from the high of 22.5 million users in 2021.
What is Acorns?
Acorns is a microinvesting platform that allows users to invest small amounts of money in a diversified portfolio of exchange-traded funds (ETFs). The platform was founded in 2012 and is headquartered in Irvine, California. Acorns has a mobile app that allows users to set up automatic investments, round-ups, and recurring investments, as well as track their portfolio and receive investment recommendations.
One of the main features of Acorns is its automatic investments and round-ups, which allow users to invest their spare change by rounding up the purchase amounts of their debit and credit card transactions to the nearest dollar and investing the difference. This makes it easy for users to start investing small amounts of money.
Acorns charges a monthly fee of $1, $3, or $5, depending on the level of service selected. The platform offers a range of investment portfolios, including conservative, moderate, and aggressive options. It is important to note that investing carries inherent risks, and it is essential to thoroughly research any investment before making a decision. Consider our article about tastytrade vs. Robinhood for more broker comparisons.
How Many Users Does Acorns Have?
Acorns currently has a total of 8.2 million users at the time of writing this report.
Note from HaiKhuu’s CEO:
From the two, I would personally recommend you sign up for Robinhood. I personally utilize Robinhood more actively than Acorns and they do not charge any fees on the capital kept in the account.
If you would like free shares in stocks like Apple, Microsoft or Tesla, feel free to use this Robinhood PROMO CODE to sign up!
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