Acorns vs Charles Schwab

Acorns vs Charles Schwab Comparison Table 2024
Acorns	Charles Schwab
Review 3.2	Review 2.8

Acorns is a US-based investment platform launched in 2012. This SEC-registered firm aims to make investing more accessible for anyone looking to start small, catering to a range of savings goals. With over 9 million clients, the firm has earned a strong reputation and is backed by a number of well-known investors and economists.	Charles Schwab is a large US investment broker offering a massive range of stocks, ETFs and equity derivatives in a variety of savings and investment accounts. The trustworthy brand has been offering financial services for 45+ years with over 35 million brokerage accounts and $870+ billion in assets under management. Charles Schwab is also regulated by top-tier watchdogs including the SEC and FCA.
Bonus Offer
$5
Comment by Reviewer
"Acorns will meet the needs of US traders looking for flexible investment portfolios with simple flat fees and low entry requirements."	"Charles Schwab will serve long-term investors looking for managed accounts, financial advice and self-directed trading opportunities. Fees are competitive, with zero-commission stock and ETF trading and no account minimums for individual brokerage accounts."
Pros
Acorns Visa debit card included with all subscriptions plus a banking and investing app Earn bonus investments from popular brands when you shop their offers using your Acorns card Strong regulation from the SEC and membership with FINRA/SIPC, plus FDIC insurance up to $250,000 Flat $3 monthly fee, plus no hidden charges, minimum balance fees or overdraft penalties Five risk levels from Conservative to Aggressive and a range of savings accounts Bitcoin-linked ETF offering exposure without owning BTC Welcome bonuses and financial incentives	Strong investment offerings covering stocks, mutual funds, options, bonds and cryptocurrency Powerful trading software with real-time quotes, fundamental research and investment screeners Responsive customer support team available 24/7 via live chat or telephone Competitive trading fees with no commissions on stocks and ETFs Fractional shares on the S&P 500 with a $5 minimum investment Thematic investing categories and ESG compliant portfolios Strong regulatory oversight from the US SEC and UK FCA No account minimums for individual brokerage accounts High-quality educational resources for new investors
Cons
Cannot manually change or choose investments Narrow choice of trading instruments with no forex Monthly fee might be high for those with smaller balances US clients accepted only	Only US markets available (except 12 foreign markets on the Global Account) High minimum investment of $5000 to use robo-advisors Limited funding methods with no e-wallets No email support
Instruments
Stocks, ETFs, Bonds	Stocks, ETFs, Cryptos, Futures, Options, Commodities, Bonds
Demo Account
No	Yes
Minimum Deposit
$0	$0
Trading Platforms
Own	Own
Payment Methods
Credit Card Debit Card PayPal Wire Transfer	ACH Transfer Automated Customer Account Transfer Service TransferWise Wire Transfer
Minimum Trade
$5	$1
Regulator
SEC, FINRA	SEC, FINRA, FCA1
Margin Trading
No	No
STP Account
No	No
ECN Account
No	No
DMA Account
No	No
MAM Account
No	No
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	Yes
Robo Advisor
Yes	Yes
Negative Balance Protection
No	No
Market Maker
No	No
P2P Trading
No	No
Spot Trading
No	No
Mobile Apps
iOS & Android	iOS & Android
Auto Trading
	Yes
Copy Trading
No	No
Social Trading
No	No
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	Yes
Custodial Account
Yes	Yes
Guaranteed Stop Loss
No	No
Islamic Account
No	No
Account Currencies
USD	USD
Stock Exchanges
New York Stock Exchange	Dow Jones Nasdaq S&P 500 Toronto Stock Exchange
Commodities
	Soybeans
Cryptocurrency
Crypto trading not offered	Charles Schwab supports indirect crypto trading through digital coin trusts and crypto-related stocks. You can get exposure to popular digital currencies such as Bitcoin, Ripple and Ethereum.
Spread
	Floating
Coins
	GBTC BITW
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

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