Acorns Review

Investment is considered a useful technique to beat inflation. The need for investment increases manifold when it comes to fulfilling financial goals for a comfortable future. In the present era, the technological future of wealth moves with the development of automatic investment tools, and portfolio management & investment services. Acorns is an online investing brand that claims to bring financial ease to everyone. Let’s find out more about this claim in our Acorns Review.

What is Acorns?

Launched on August 26, 2014, Acorns is a fintech financial services company specialized in micro-investing and robo-investing allowing the users to invest their sub-dollar money. Acorns has made investing accessible to everyone. Acorns has pulled out the misconception that investing is the game of the haves only. Acorns’ micro-investment implies investing in small increments. So, with Acorns, you can maximize the potential of your money’s growth by getting an investment account in less than 5 minutes.

Acorns investing

The mission of the company is to look out for the financial benefits of its investors by assisting them through micro-investing. As a robo advisor, Acorns offers algorithm-based financial services by placing customers’ assets in many investment products. On Acorns, it is easy to earn passive income as your spare change is rounded up through your linked accounts and invested automatically for just $1 a month. The smart pre-built portfolios designed by Acorns experts and innovators are turning the investing journey light and inexpensive and making more than 8 million people grow financially. In 2020, Acorns had more than $3 billion FUM (funds under management).

How Acorns Works?

Acorns rounds up every purchase to the next dollar and invests the remainder in the chosen portfolios.

Who Can Sign Up At Acorns?

Acorns is available in the U.S only. You must be 18-years-old and must have a valid SSN (Social Security Number) to use your Acorns account. No minor accounts are available on Acorns currently.

How To Open Account At Acorns?

Acorns does not require any minimum amount to open an account, but you must have funds in your account. You can create an account on Acorns by going to or by using Acorns mobile app.

Steps to Create Account

  1. Create account and password
  2. Now, this is the main Round-Up account that you will track. Here, you can choose the transactions that you want to be rounded up and invested in.
  3. Next, you will connect your deposit account (checking account), debit/credit cards. You can link unlimited checking accounts and debit/credit cards
  4. Now, you will create your Acorn Investment Account by providing your first and last names, phone number, and birthdate. You will have to answer some questions. If these questions are irrelevant, you can leave them unchecked. Acorns Investment Account also requires your SSN, employment and income information, financial goals, and risk preferences.
  5. Now, you are all set to view your portfolio that Acorns recommended for you. However, it is not necessary to go on with the recommended portfolio as you can view different types of portfolios and choose them yourself.

Acorns Features


Round-Up is a unique feature of Acorns. After signing up, you would link your checking account or credit/debit card with Acorns. When you spend from that account or card, Acorns rounds the transactions up to the nearest dollar and adds the change to the Round-Up balance. When the Round-Up balance reaches $5, Acorns adds it to your Investment account. In this way, your money starts growing instantly.

Example to Understand Round-Up

If you spend $10.15 from your bank account or card. Acorns will round up the amount to $11 and the change i.e. 15 cents will be added to your Round-Up balance. Acorns will keep adding together the change it will the transferred to your Acorns Investment Account as soon as your Round-Up balance is $5.

  • Multipliers for Round-Ups – Besides rounding up your dollar, you can also multiply your Round-Ups by 2×, 3×, or 10×. You can adjust your Round-Up setting at any time.
  • Whole Dollar Round-Ups – You can choose how much you invest into your Investment Account by turning even dollar amount into a whole dollar round-up. It can be from $0 to $1.
  • Automatic and Manual Round-Ups – Automatic Round-Up is active on your Acorns account by default. However, you can turn it off and go with Manual Round-Up. It will allow you to manage which spare change amounts you want to invest.

Found Money

Found Money is another unique feature of Acorns. Found Money allows you to have bonus cash to your portfolio. To get this bonus cash, you will spend money with one of over 300 Acorns’ partners. These partner retailers will contribute an extra amount to your Acorns account on every purchase. The earned rewards will be invested between 90 and 120 days after purchase.


As a robo platform, Acorns helps you invest automatically on a daily, weekly, and monthly basis. Acorns will keep your portfolio on market track by rebalancing it.

Micro Investing for Just $1

Acorns is a micro-investing platform, and it provides opportunities to maximize your earning. Unlike traditional platforms, there are no potential barriers like high minimum investment requirements and hefty fees. More importantly, you can start investing for just a dollar per month.

Zero Hidden Fees

Investing with Acorns is without any trading fee, overdraft fee, maintenance fee, and commissions. Monthly prices are all-inclusive.


There are 55,000 Acorns’ Allpoint ATMs throughout the U.S where you can withdraw your amounts without any fees. With the help of ATM Locator within the Acorns app, you will find your nearest Allpoint ATM.

Invest in Your 20s

Acorns platform is highly beneficial for those who are just in their 20s. when you start investing sooner, you can keep your money for a longer time in the market hence getting more and better chances to grow your money.

Job Finder

Acorns’ partnership with ZipRecruiter has created an online job board empowering job finding experience for job seekers.


Acorns is concerned about the financial education of its customers. Acorns has provided an Education section on its website where education material is displayed in two categories.

Acorns Education
  1. Money Basics

Here, you can read articles about all the basics to grow your knowledge. This category has the following sections.

  • Most Popular
  • Investing
  • Retirement
  • Saving
  • Credit
  • Student Debt
  • Insurance
  • The Economy
  • Taxes
  • Side Gigs
  1. Grow Magazine

To impart the customers with original educational features to develop healthy money habits and financial future Acorns has partnered with CNBC to launch Grow Magazine where you will find the latest news, tips, inspiring stories, and experts’ advice to benefit the most from your investments.

Besides the reading material, Acorns has a YouTube channel also to educate you in the best possible manner.

Referral Program

Acorns offers a referral program to promote your earning opportunities. There is a reward of $5 for you and your friend. This amount will be invested through your Acorns Invest Account.


Acorns has strict security measures like 256-bit encryption bank-level security, and two-factor authentication to keep your accounts secure and safe.

Acorns Products

Acorns products fall into the following categories.

  1. Investing
  2. Spending
  3. Earning

Let’s have a deep look at all these Acorns Products one by one.

Acorns Investing Review

  1. Acorns Invest

Acorns believes in the power of investing and knows that a good future lies in a good investment. Acorns facilitates its users by keeping highly priced stocks within reach of individual investors. Acorns does so by investing your money in fractional shares. Acorns invest is the only investing account that uses your spare change to get into ETFs. Account opening is simple and easygoing and can be done in less than 5 minutes. Then your money (spare change) will be automatically added to your diversified portfolio. Acorns has valuable help from Dr. Harry Markowitz, a Nobel laureate, to design its portfolios.

Acorns Investing

Types of Portfolios

A portfolio is a combination of stocks or bonds. Stocks are ownership shares in a business while bonds are debt investments, money loaned at a fixed interest rate for a certain period of time. Your Acorns portfolio will be created automatically when you answer certain questions e.g. your financial condition, financial goals, etc.

  1. Conservative
  • Short Term Government Bonds – 40%
  • Ultra Short Term Corporate Bonds – 40%
  • Ultra Short Term Government Bonds – 20%
  1. Moderately Conservative
  • Large Company Stocks – 24%
  • Medium Company Stocks – 4%
  • International Company Stocks – 12%
  • Government and Corporate Bonds – 60%
  1. Moderate
  • Large Company Stocks – 35%
  • Medium Company Stocks – 5%
  • Small Company Stocks – 2%
  • International Company Stocks – 18%
  • Government and Corporate Bonds – 40%
  1. Moderately Aggressive
  • Large Company Stocks – 47%
  • Medium Company Stocks – 6%
  • Small Company Stocks – 3%
  • International Company Stocks – 24%
  • Government and Corporate Bonds – 20%
  1. Aggressive
  • Large Company Stocks – 55%
  • Medium Company Stocks – 10%
  • Small Company Stocks – 5%
  • International Company Stocks – 30%

On the Acorns Invest account you will invest in:

  1. Exchange-Traded Funds

ETFs possess stocks or bonds.

  1. Asset Classes

These classes are certain categories of stocks or bonds. Acorns’ ETF portfolios include the following asset classes.

  • Real estate
  • Large companies
  • Small companies
  • Government bonds
  • Corporate bonds
  • Emerging markets
  1. Acorns Later

Acorns Later also known as Acorns IRA (Individual Retirement Account) is an easy and automated way to save for retirement. You do not need any big amount for Acorns Later. You can begin investing in your IRA with just $5.

Acorns offers three IRAs:

  1. Traditional IRA
  2. Roth IRA
  3. SEP IRA

IRA portfolio is selected on the basis of your age and the time until you reach your ‘retirement age’. Currently, the retirement age is 59½ years. You can make IRA contributions in two ways:

  1. Recurring contributions
  2. One-time contributions

Before May 20, 2020, there was a separate tier for Invest and Later, but now the Acorns Later account is a part of the $3/month tier (Personal tier).

  1. Acorns Early

Acorns Early is a custodial account that allows you to invest in the future of your children for just $5 a month. Your children do not have access to the account and cannot invest on their own, but actually, you can by investing into a diversified portfolio of ETFs. Acorns Early is built into Acorns Family. You can have multiple Early accounts for your children without any added cost.

Acorns Early account will be in the aggressive portfolio to get long-term gains.

Additional Perks

The following features and accounts are included with Acorns Early.

  • Investment account
  • Later account
  • Acorns Earn
  • Financial education
  • Acorns Spend

Acorns Early is a UTMA/UGMA account. You can use the account funds for anything related to your child.

Acorns Earn

Acorns Earn is an earning product by Acorns that functions on the principle of ‘earn more, save more, invest more.’ It offers the opportunities to earn when you shop, find a job or invite a friend. Acorns has become partners with 350+ top brands that invest a set amount or a percentage of your purchase price in you. Acorns Earn rewards are invested from 90 to 120 days after you make a purchase. With Acorns Visa debit card, you can boost your earning.


  • New user
  • Subscription or purchase is made when you tap to get an offer

Acorns Spend

Equipped with Acorns Invest and Acorns Later, Acorns Spend promises a digital banking facility with a heavy-metal debit card. It is your FDIC-protected checking account where you can save, invest, and earn.

Acorns Spend Features

  • Acorns Spend debit card is sleek in design and technology
  • Acorns Spend enables you to save and invest instantly with Real-Time Round-Ups and Smart deposits
  • Quick digital direct deposit, mobile check deposit, check sending, and free of cost bank-to-bank transfers
  • No minimum balance and no overdraft fees
  • Fee-free global access to more than 55,000 ATMs
  • $250,000+ fraud protection and digital card lock

Acorns Fees

Acorns offers three subscription tiers to back up your journey to achieve your financial goals.

  1. Acorns Lite – $1/month includes:
  • Investment account
  • Round-Ups
  • 350+ brand partners for bonus investments
  • Hundreds of articles to grow financial knowledge
  1. Acorns Personal – $3/month includes:
  • Investment account
  • IRA (Acorns Later)
  • Checking account (Acorns Spend)
  1. Acorns Family – $5/month includes:
  • Investment account
  • Acorns Later
  • Acorns Spend
  • Acorns Early

Acorns Competitors

  • Betterment
  • Stash
  • Robinhood
  • eMoney
  • digit
  • Wealth front
  • FutureAdvisor
  • Personal Capital
  • DoubleNet Pay
  • Altruist
  • HelloWallet
  • Quick account opening
  • Automatic saving and investing
  • Minimum investment
  • Portfolio suggestions and rebalancing
  • Easy to navigate mobile app
  • Bonus investment
  • Investing for kids
  • Educational content
  • Unlimited accounts and debit/credit cards connection
  • No individual investment option
  • Not good for hands-on investors
  • Limited investment portfolios
  • $5 aggregate limitation
  • High fees on small accounts
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