Acorns Investing Review Acorns Investing rating

Acorns Brokerage Review (2022)

Acorns investing review: brokerage fees, account rates, robo advisor mobile app, savings interest, referrals, fund withdrawals, and problems.

Acorns Investing Overview

Acorns came on the scene at the tail end of 2014 as an app designed almost specifically for first time investors, or people who had always wanted to get into the stock market but never quite knew how. It is designed for a generation that does not have $10,000 in savings to fork over to a broker or anyone else, but rather, has only spare change.

In essence, it is designed for millennials. The millennial mindset is found in almost every aspect of the app. It is simple to use. The app interface is beautiful, and it almost makes saving money fun.

Acorns Brokerage Review

Acorns Investing

To get set up, new users first click on their promotion offer - Get $5 when you open an Acorns account with this referral link. - follow Acorns easy application screens and connect to their bank account. There is also the option to connect credit and debit cards. Users can add any or all of them, there is no charge for adding a new card.

There are two primary ways of investing with Acorns. The first is through investing spare change, or what it calls round ups. Round ups work by investing all of the purchases on the linked account up to the next dollar. So, if there is a transaction for $1.99, Acorns will take $0.01 out of the account and invest it.

For more aggressive savers, there is the option to invest as much as they want immediately through several options. In fact, Acorns is aggressive when it comes to investing more than spare change. The service encourages users to add lump sums in three different areas of the app and two of them only require a single tap.

Acorns Investing Review

Setting Options

Users have five primary options for how their money gets invested into the market. They can choose from a Conservative, Moderately Conservative, Moderate, Moderately Aggressive, or Aggressive portfolio type.

New users are invited to choose a setting when they sign up, and they can change that setting at any time in the Settings menu.

Unlike similar apps, like Stash, investors cannot choose what types of stocks they buy. Acorns’ model does this automatically; however, users can see how their portfolio is divided up in the Settings option on the app.

Acorns Withdrawing Funds

Users can withdraw their cash at any time. But, because the money is in the stock market, it is subject to financial regulations, which means the withdrawal takes an average of five to seven business days to be completed.

The withdrawal goes directly to the bank account linked to the Acorns account.

Acorns Rates

Acorns offers two pricing plans: Lite and Personal. The Lite plan fee is $1 a month. This is the fee that the users who are only investing their spare change will pay. The fee covers all transfers and transactions, which means there is no extra fee with changing up the portfolio or withdrawing cash.

Acorns pricing plans

How Much Are Investors Really Paying?

The rate transparency is one of the big benefits of Acorns and robo-investors in general. The model re-invests automatically, which means users do not need to pay purchase fees, service fees or trading fees on top of the monthly fee.

However, one of the few negatives of working with Acorns is the fee. Investors who only invest a few dollars a month or keep a low balance risk spending what they make in dividends exclusively on the fees alone because monthly dividends tend to be a few cents.

Like most investments in the stock market, it is not likely that a portfolio will prove profitable until it reaches the four-figure mark. However, this does not detract from the overall usefulness of the app for people who want to learn more about investing in a relatively safe space. Users can learn a lot about the way the market works by logging in regularly and checking the Performance setting to see how the market fluctuates.

Acorns Referrals

Acorns offers a $5 referral fee for every user who invites a friend that creates an account and starts investing: Get $5 when you open an Acorns account with this referral link.

Open Acorns Account

Acorns FoundMoney

Acorns introduced a new product called FoundMoney. Acorns is forging partnerships with other popular brands (mostly mobile apps like itself) to encourage greater investments and brand loyalty. Currently, it works with HotelTonight, JackThreads, Dollar Shave Club, and

The partners offer different incentives, but the idea is that when Acorns users use the same credit or debit card with one of these brands, they get rewarded with extra cash in their Acorns account automatically.

FoundMoney is still in beta mode, so it is not clear if it will become a permanent part of the app. But, it is an easy way to add some money to the account on purchases users might be making anyway.

Acorns Dividends and Taxes

Acorns takes care of all of the extra stuff for its investors. It automatically reinvests the dividends back into the account every month, which makes it maintenance free. Acorns also sends out a 1099 tax form every year for free.

Acorns Brokerage Review Summary

We end our Acorns Investing review on the thought that popularity of this app is no surprise. It is geared for millennials who want an easy way to save and invest, and it does just that with style. Acorns is not likely to make the majority of its user base much money, but it is a simple and inexpensive starter service for both new investors and those who just want a different way to squirrel away some acorns for the winter.

Acorns Promotion

Get $5 when you open an Acorns account with this referral link.

Open Acorns Account

About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for, Chad can usually be found managing his portfolio or building a new home computer.