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Acorns vs Charles Schwab

Acorns logo

Acorns

Software

Invest your spare change

From
On request
Rated
-
Full reviewWebsite
Charles Schwab logo

Charles Schwab

Software

Investing made simple

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Acorns a flat monthly subscription regardless of balance, so $3 a month on Bronze is a heavy percentage on a small account; Charles Schwab broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile
  • They diverge on capability: Acorns covers Round-up investing, Charles Schwab covers Commission-free trading.

Where they differ

Only the attributes on which Acorns and Charles Schwab actually diverge.

Attributes where Acorns and Charles Schwab differ
AttributeAcornsCharles Schwab
Pricing modelsubscriptiontransaction
Founded20121971

Identical on both: starting price (On request), free tier (No), platforms (Web, IOS, Android), user rating (Not yet rated), category (Unknown).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Acorns

  • Round-up investing
  • Automated investing
  • Portfolio management
  • Recurring investments
  • Credit cards
  • Debit cards

Only in Charles Schwab

  • Commission-free trading
  • Retirement planning
  • Wealth management
  • Research tools
  • Investment accounts

Both cover

  • Bank accounts
  • Web support
  • IOS support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

Acorns

  • Automated investing of spare change from everyday purchasesnot Charles Schwab
  • Retirement saving through Acorns Later IRA accountsnot Charles Schwab
  • Checking and high-yield savings alongside investingnot Charles Schwab
  • Custodial investing and debit cards for children through Acorns Earlynot Charles Schwab
  • Earning cashback that is invested rather than bankednot Charles Schwab

Charles Schwab

  • Budget Managementnot Acorns
  • Expense Trackingnot Acorns
  • Investment Trackingnot Acorns

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Acorns

  • A flat monthly subscription regardless of balance, so $3 a month on Bronze is a heavy percentage on a small account
  • The emergency savings account and the 1 percent IRA match need Silver at $6 a month
  • Custom portfolios, Acorns Early for children and Money Manager are Gold tier only at $12 a month
  • There is no free tier

Charles Schwab

  • Broker-assisted trades cost $25 and automated phone trades cost $5 in addition to the standard $0 online commission, per the App Store listing for Schwab Mobile
  • Options trades carry a $0.65 per-contract fee on top of the $0 online commission, per the App Store listing for Schwab Mobile

Pricing, plan by plan

Acorns

On request
  • Lite$4.99/month
    • Round-up investing
    • Automated portfolio
  • Plus$9.99/month
    • All Lite features
    • Checking account
    • Dollar-based investing
  • Premier$19.99/month
    • All Plus features
    • Premium investing

Charles Schwab

On request
  • Individual BrokerageFree
    • Commission-free trading
    • Research tools
  • Schwab Advisor Services$undefined/month
    • All Brokerage features
    • Wealth management
    • Personal advisors

Which should you pick?

Choose Acorns if

  • You need round-up investing.
  • You work on Web, IOS, Android.
  • You also want automated investing.
Acorns review

Choose Charles Schwab if

  • You need commission-free trading.
  • You work on Web, IOS, Android.
  • You also want retirement planning.
Charles Schwab review

Questions people ask

Is Acorns or Charles Schwab better?
Neither clearly leads. Acorns starts at On request and Charles Schwab at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Acorns or Charles Schwab?
Acorns starts at On request and Charles Schwab at On request.
Does Acorns or Charles Schwab run on more platforms?
Both run on Web, IOS, Android, so platform support will not decide this one for you.
What is Acorns best used for?
Acorns is most often used for automated investing of spare change from everyday purchases, retirement saving through acorns later ira accounts, checking and high-yield savings alongside investing, custodial investing and debit cards for children through acorns early. Of those, automated investing of spare change from everyday purchases and retirement saving through acorns later ira accounts are not what Charles Schwab is typically brought in for.
What can Acorns do that Charles Schwab cannot?
Acorns covers Round-up investing, Automated investing, Portfolio management, Recurring investments. Charles Schwab covers Commission-free trading, Retirement planning, Wealth management, Research tools. Both handle Bank accounts, Web support, IOS support, Android support.
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