Empower vs Acorns

Empower vs Acorns Comparison Table 2024
Empower Acorns
2.8

Empower is #21 in our broker rankings.

3.2

Acorns is #35 in our broker rankings.

United States Flag Traders from US accepted
United States Flag Traders from US accepted

Empower, previously Personal Capital, is a US-based and SEC-regulated trading platform and advisory firm. Clients can access pensions, robo-advisors and do-it-yourself investing in stocks, mutual funds, fixed-income products and ETFs. Millions of clients trust Empower with their long-term investments, attracted by the suite of free financial planning tools and excellent reputation.

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.

Bonus Offer
$5
Comment by Reviewer
"Empower is best for hands-off investors looking for a US-regulated platform and robo-advisor with free financial planning services. However, investors need to be willing to make a large minimum investment and pay higher than average fees for premium services." "Acorns will meet the needs of US traders looking for flexible investment portfolios with simple flat fees and low entry requirements."
Pros
  • Award-winning customer support team
  • Intelligent budgeting and portfolio management tools
  • Empower's advisory services are regulated by the SEC
  • Millions of active users and good industry reputation
  • Highly rated mobile app available on Apple and Android devices
  • Beginner-friendly financial dashboard with customizable widgets
  • Robo-advisor service with pre-built portfolios and investment strategies
  • 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
Cons
  • Limited choice of payment methods with only wire transfer
  • 0.49% - 0.89% management fees are high vs alternatives
  • $100,000 is needed for the robo-advisor service
  • No forex, commodity or crypto trading
  • No demo account for prospective users
  • Only available in the US
  • 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
Awards
  • America’s Best Customer Service 2019 - Newsweek
Instruments
Stocks, ETFs, Mutual Funds, Fixed Income Stocks, ETFs, Bonds
Demo Account
No No
Minimum Deposit
$1 (Cash), $100,000 (Robo Advisor) $0
Trading Platforms
  • Own
  • Own
Payment Methods
Minimum Trade
Variable $5
Regulator
SEC, FINRA SEC, FINRA
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 No
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 (Auto Portfolios)
Copy Trading
No No
Social Trading
No No
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
Yes No
Custodial Account
No Yes
Guaranteed Stop Loss
No No
Islamic Account
No No
Account Currencies
  • USD
  • USD
Stock Exchanges
More Comparisons
Empower
vs
Acorns
vs