I’ve always been a fan of my bank account’s “Round-up” program where it rounds up my purchases to the nearest dollar and deposits the change into a savings account. 

So when my friend told me about this “cool new app” called Acorns that rounds up your purchase and uses them for investing, I was intrigued. This was a while ago… Acorns isn’t so “new” these days.

I downloaded Acorns the next day and have been talking about it ever since.

Acorns is a great investing app and in this article I’ll explain why, and help you decide if Acorns is the right investment app for you.

How do we rate the Acorns investment app?

Our Rating


Google Play Rating


Apple Store Rating

Services 80%
Simplicity 100%
Sign-ups 90%
Stock Research 75%
Store Rating 90%
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Acorns FeaturesFree AccountPremium Account
Monthly FeeN/A$1-$3/ month
Minimum BalanceN/A$0
Instant DepositsN/Ainvesting apps feature no
Automatic DepositsN/Ainvestment app feature yes
StocksN/Ainvestment app feature yes
ETFsN/Ainvestment app feature yes
OptionsN/Ainvesting apps feature no
CryptocurrencyN/Ainvesting apps feature no
Fractional SharesN/Ainvestment app feature yes
DRIP/FRIPN/Ainvestment app feature yes
BondsN/Ainvesting apps feature no
Mutual FundsN/Ainvesting apps feature no
Paper TradingN/Ainvesting apps feature no
Margin AccountsN/Ainvesting apps feature no
Retirement AccountsN/Ainvestment app feature yes
Banking ServicesN/Ainvestment app feature yes
Human AdvisorsN/Ainvesting apps feature no
Robo AdvisorsN/Ainvestment app feature yes
Stock ScreenersN/Ainvesting apps feature no
Level 2 Market DataN/Ainvesting apps feature no

Acorns is VERY simple to use and it’s great for anyone who wants to try their hand at investing, regardless of technological or financial “literacy”.

Overall, we give Acorns 4.4/5 stars, while Google Play gives Acorns 4.5/5 stars, and the Apple Store gives Acorns 4.7/5 stars.

The thing that sets Acorns apart from most other fintech companies, particularly for new investors, is the fact that the service uses algorithms to choose which investments to make for users. This makes the Acorns app extremely easy to use, even for people who know nothing about technology OR investing.

Investment products that perform this type of investing are called “Robo-advisors” eliminating the dependency of a proper financial education when investing, and in turn, eliminating the need to pay an account manager. 

The Acorns service is great and has a very low monthly cost starting at $1 per month. Acorns offers users the luxury of purchasing fractional shares, which is amazing for people who can’t afford the high price of popular stocks.

As far as sign-up bonuses and referral bonuses, Acorns has a really solid referral program set up. Acorns will pay new members, and the affiliate who referred them, each $5 if the new member deposits $5 into their Acorns account.

This bonus might not seem like a lot, and it isn’t by itself, but Acorns constantly runs promotions like “Refer 3 people this month and receive an extra $500”.

The ONLY real downside to Acorns is also it’s strength. Acorns is an extremely hands-off app, so for people who want to have tons of control over their investments, and want to research their investments thoroughly, Acorns may not be a good fit. 

The Acorns app is targeted specifically to people who don’t want a headache from staring at charts and balance sheets all day.

One REALLY unique thing about Acorns that sets it apart from the other investing apps, is they recently added a Job Finder to help people find jobs a little easier.

I haven’t had a chance to really test it out, but it’s a neat idea and it’ll be interesting to see if the other investment apps add that kind of feature too.

Acorns investing services

acorns app investment
Services 80%

Acorns doesn’t have the most flashy services in the fintech world, as a matter of fact, their service barely has any features at all. 

So why are we giving it a good rating for it’s services? Because the whole point of the app was for people to be able to invest almost completely passively.

With this in mind, Acorns nailed that goal perfectly, and their app is great.

The only reason it isn’t getting a perfect score from me is because it would be nice if there were options for people who like a more hands-on approach to investing.

As mentioned earlier, their Job Finder service is really unique, and hopefully it’ll help people earn some more money to invest!

How easy is the Acorns investment app to use?

investment app review 2020
Simplicity 100%

Acorns is by far the easiest investing app we have tried yet. All you really have to do is sign-up, answer a few questions, and link your bank account to your Acorns account to start investing money automatically.

When you spend money from your bank account, the total will get rounded up to the nearest dollar and the change will get deposited into your Acorns account once the total reaches $5.

Acorns simply asks you a few questions about your financial situation when you sign up and will invest the money in your account based on your risk tolerance

Acorns sign up bonus and referral program

Sign-ups 90%

Acorns’ sign-up and referral bonus programs are another situation where on the surface they don’t look very fancy, but in reality they are really nice.

You’ll receive a bonus $5 when you sign up with a referral link and deposit $5 into your Acorns account.

The person who referred you will also get $5 when you deposit $5.

So what makes this special? Acorns frequently has special promotions (shown in the picture above) where they will pay affiliates an additional amount for referring a certain number of people in a month.

Some of these promotions can be pretty absurd, like requiring you to refer 10+ people in a month, but referring 3 people is something anyone can do.

Currently, Acorns is giving out $500 for referring three people… which is probably the best deal out there, for now.

Acorns stock research tools

acorns investment app review
Stock Research 75%

The Acorns investing app doesn’t really have very good stock research tools, BUT most of the mobile investing apps don’t (except Webull), and Acorns isn’t exactly built for people to be picking stocks themselves anyway, since Acorns is a robo-advisor service.

Acorns is just a really simple and convenient way for people who don’t want to put much thought or energy into investing, but want to still get involved with, and hopefully profit from, the stock market.

I don’t want to give Acorns a REALLY bad rating for this, because their app doesn’t require people to research stocks, and since the app is pretty decent overall it wouldn’t seem fair to punish it too heavily for something that doesn’t matter contextually.

Acorns FAQ

How does Acorns investing work?

With Acorns you basically just answer a few questions about your finances and your risk tolerance and the app picks an Exchange Traded Fund (ETF) that suits your needs.

When you deposit money into your Acorns account, it will be automatically invested into the appropriate ETF, so it’s not a complicated process.

How does Acorns make money?

Acorns makes money by charging members a low monthly subscription fee. It costs me $1 per month to have my account at the moment. 

Is Acorns safe?

The stock market is heavily regulated, so brokerage companies like Acorns are required to collect personal information, like your SSN. Acorns is just as safe to use as any of the other investing platforms, just make sure to read their policies so you know exactly what you’re agreeing to. 

Can I buy anything other than ETFs with Acorns?

No, Acorns basically just invests your money for you into a selection of ETFs, there isn’t any stock picking involved, or trading.

Was Acorns a good app for you?

If you decide to use Acorns, let us know what you think about it in the comments! Your input will help us do a better job at rating apps and getting accurate information out there.

We appreciate the support! If you want to learn more about other investing apps, make sure you check out all the investing app info on our homepage!

Thanks so much, have a wonderful day! Remember to smile 😀

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