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Acorns Review 2021: Best Investing Features, Pros and Cons

Everything you need to know about Acorns.

In this Acorns review, we’ll cover the investing features, pros and cons, and if this app is right for you. Acorns is a comprehensive financial app offering spare-change savings, a checking account, retirement plans, and cash-back rewards through the micro-investing feature.

Pricing and Fees - 9
Ease of Use - 9
Tools and Resources - 8


Smile Score

Friendly interface and automated investing take away the barriers for newbie investors and those who seek a simpler approach.

Invest Spare Change
User Rating: Be the first one !

Acorns Review Summary

Acorns is an automated savings tool that merges the Robo-advisor model to help beginners build their investment portfolios with more ease and fewer hassles. With Acorns, you can invest in ETFs for as little as $5.

What is Acorns?

Acorns revolutionized investing for many by helping people save their spare change through a Round-up feature. They’ve merged automated savings with a robo-advisor model making it simpler to build up your savings and have it earn more in an exchange-traded-fund (ETF).

>> Get started with Acorns 

Full Review

Acorns is a legitimate and trusted investment app helping millions of people save and invest with little effort. For many, investing can be intimidating and prevents them from starting to build their nest egg. Acorns removes the barrier through automation tied to your spending. The Acorns app works by rounding your purchases on linked debit or credit cards then sweeps the change into your investment account.

Acorns Features

Acorn shines with this simplicity and Round-up features.

  • Round-ups – save money after each purchase with your linked debit and credit card
  • Automated – set recurring daily, weekly, and monthly investments
  • Account Minimum  – $0

Acorns Products

  • Invest – micro-savings and investing (View Acorns Invest)
  • Spend – checking account with a debit card and no minimums
  • Later – tax-advantaged accounts for your retirement
  • Early – accounts for your children

Acorns Earn that helps you earn cash-back for using recommended services from partners or through the use of Acorns debit card. And Acorns Grow offering users financial articles, interviews, and reviews.


  • Lite: $1 a month. Includes a taxable investment account.
  • Personal: $3 a month. Adds on an individual retirement account and a checking account.
  • Family:$5 a month. Includes everything in the lower tiers, plus Acorns Early, which lets you open investment accounts for kids.

Pros & Cons

✓ Simple automatic investing of spare change.
✓ Start investing with zero minimum.
✓ Easy cashback at select retailers.
✓ Helpful articles and tools.
☓ Small portfolio choices.

Who is it best for?

Acorns is best for people who struggle to save money and would benefit from a hands-off approach.

How to Start an Acorns Account

Time needed: 3 minutes.

Step-by-Step to opening an account with Acorns

  1. Getting started

    Click “Get Started” to open account

  2. Enter email and password

    Submit your personal information, set up a PIN access code, and log into your new account.

  3. Connect your accounts

    Choose your Round-up account and connect your checking account.

  4. Answer questions

    Choose your reason for investing that helps the algorithms recommend your portfolios.

Acorns Review: Is Acorns Right for You?

Acorns is a powerful service used by over 7 million people. Hopefully, in this Acorns review, you’ve learned how their friendly interface and investing portfolio take away the barriers for newbie investors and those who seek a simpler approach.

With Acorns, the monthly fee isn’t a deal-breaker but for small accounts, it’s quite high. You can use Acorns to help you save each time you spend but you can also set up automatic schedule deposits into your account. Keep in mind small amounts won’t help you reach your investment goals, but if Acorns can help you get started it’s the right app.

If you have a larger portfolio, you can benefit from a better option such as Betterment with a more comprehensive suite of investing tools and planning services. Discover other investing app alternatives in the financial marketplace for the best investing app for you.

You can use Acorns products separately but to fully take advantage of the service, it’s best to use the products to maximize your savings and investing.

>> Get started with Acorns 

Acorns InvestAcorns SpendAcorns LaterAcorns Early
Invest spare change.Checking plus a metal debit card.Save for retirement.Investment accounts for kids.
Get StartedGet StartedGet StartedGet Started

Acorns FAQs

Is Acorns a good investment?

Acorns is a good way to invest if you’re unsure how much you can save to invest and need help to start investing. Investments with Acorns use ETFs and with small deposits, it may take some time to create a large nest egg.

Can you lose money with acorns?

Acorns app invests your money in the market so there is a chance you’ll lose your savings. This is true for any market investments you make. Acorns do invest conservatively and with a long-term horizon, you can benefit from the historical average return of the market.

Is Acorn safe and legit?

Acorns is a legitimate company. The Acorns’ application and website are operated by Acorns Advisers, LLC (“Acorns Advisers”), an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”). Securities in your investment accounts are SIPC-protected up to $500,000. Your checking account, Acorns Spend, is FDIC-insured up to $250,000. You can withdraw available funds and/or close your Acorns account at any time.

Does acorns charge a fee?

Acorns fees are tier-base pricing. Acorns Light is $1 per month for all accounts under $1 million. The monthly fee rises to $100 per month for every million invested afterward. Acorns Personal is $3 per month which includes Later and Spend. Acorns Family is $5 per month with Later, Spend, and Early.

Is Acorns still free for students?

Acorns app is free for students under the age of 24 and using a .edu email address will automatically waive your fees. If you hire a

Is Acorns a bank account?

Acorns offer Acorns Spend, a checking account, created in partnership with Lincoln Savings Bank, N.A. No minimum balance or overdraft fees, and fee-reimbursed ATMs nationwide. The checking account comes with a tungsten metal debit card. When you make a purchase with Spend debit card, your purchase is rounded to the nearest dollar and invests into your Acorns Invest account.

Does Acorns actually make you money?

Acorns is an investment app that enables you to save money into one or more ETFs. As with any investments in the market, your money has the opportunity to grow (or make you money) but also the potential to lose.

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