Robinhood vs Acorns
Robinhood vs Acorns: How do both platforms differ from one an other? What are the services fees and
Trading and Investment is not a luxury anymore but a necessity. It is necessary for all of us to be more financially responsible and aware.
In today’s age you can take advantage of modern financial services that provide convenient and easy ways to grow your capital.
In this article we bring you a detailed comparison between two unique investment platforms: Robinhood and Acorns.
Robinhood vs Acorns Overview
Both Robinhood and Acorns are financial services platforms that offer modern age financial solutions.
Indeed, Robinhood is an efficient online trading platform that offers commission free trading through various instruments.
Acorns in contrast is a micro investment platform which aims to develop both good savings and investment habits.
Both Robinhood and Acorns provide investment opportunities at competitive fees. However Robinhood takes the lead with its commission free service.
Acorns offers its services through a subscription fee ranging from $1 per month to $3 per month.
In contrast, Robinhood offers trading services at zero commission, or through subscription costs if you opt for Robinhood Gold. Indeed, Robinhood Gold provides premium services at only $5 per month.
Being an active trading platform, Robinhood offers a wide range of trading and investment instruments. Therefore, users can easily trade stocks, ETFs, options as well as cryptocurrencies on Robinhood.
Acorns on the other hand only offers ETFs, through 5 portfolios only. However, users can easily invest in any portfolio that suits their needs.
Both financial services platforms offer unique features.
Robinhood is a great platform for beginner traders. Indeed, Robinhood is an active online trading platform which is useful for fee sensitive traders and investors.
Acorns is a unique platform which is best for those who are not able to save. Furthermore, Acorns is a platform on which users can save and invest their income in any of the 5 ETF portfolios offered.
Robinhood vs Acorns – Final Word
Conclusively both online platforms offer unique services. If you are trader who aim to profit from many instruments then Robinhood should be your choice.
However, if you need a platform that can help you build efficient saving habits and at the same time grow your capital, then Acorns will be a best choice.