Acorns Invest vs Webull: Great But Way Different

Webull and Acorns are excellent options if you want to work with a brokerage business that is up to date in terms of technology. Both have this quality, yet there are crucial distinctions between them.

The options and short selling on Webull’s stock and ETF trading platform are free. Any severe trader who wants a more responsive interface will benefit significantly from this platform.

Traders may use the app’s many tools, including technical indicators, ratings from independent research agencies, financial calendars, no-cost margin trading, and short selling. Webull has created an excellent platform for frequent traders by making margins, research tools, and real-time data easily accessible.

You can put your spare change to work in the stock market with an Acorns Invest taxable account. It costs nothing to open an account. To get started, you’ll need just $5. If you’re just starting out with investing, Acorns is an excellent option because it is easy and inexpensive. However, the app’s flat-fee structure makes it more expensive than percentage-based fees for newcomers, despite its user interface and educational material tailored to novices. That’s why I think Acorns is most useful for those who only need a little extra motivation to save, rather than those just starting out who are just seeking the lowest choice.

You don’t have to worry about selecting stocks on your own. First, respond to several questions about your comfort level with risk and ultimate investing objectives. You may have Acorns invest in a diverse portfolio of over 7,000 stocks and bonds for you. It will also reinvest dividends and adjust your portfolio for you.

Acorns Invest Overview

Many of us find investing too complex and frightening if we aren’t familiar with the ins and outs. Acorns’ unique mobile app is designed to streamline and demystify the entire process. Developing the Acorns app aimed to alleviate people’s fears or hesitations about starting to invest regularly. Portfolios can be automatically rebalanced and dividends reinvested to keep them on track, both of which are recommendations of Modern Portfolio Theory.

The Acorns app automatically invests the spare change from your purchases when you use it to “round up” to the closest dollar. Acorns take care of everything when you link your debit card and checking account. Because you’re only investing a few pennies at a time using this app, it’s practically no hassle at all.

Since the entire investing process can be initiated and controlled from a smartphone, the Acorns app is aimed squarely at the younger, more tech-savvy generation. Recently though, Acorns has introduced a web-based version for usage on computers and mobile devices.

Acorns is a great way to invest your spare change and work toward your savings and retirement goals. Using your credit card, Acorns will round up your transaction to the nearest dollar and invest the spare change. With Acorns Spend, you may automate your contributions and spend money on your investments weekly.

Acorns’ core focus is still microsavings, but the app does more than just invest your spare pennies. You may open a custodial investment account for your children in addition to investing for retirement and opening a checking account. Read also the Acorns vs Betterment review.

Webull Overview

When it comes to mobile-first investment platforms, Webull is without a peer. Webull is the only brokerage that can compete with its state-of-the-art user interface and powerful features.

Webull, established in the United States, is a fintech business that provides low-cost or free brokerage services. The firm, established in 2017, is subject to oversight from the SEC, FINRA, and the Hong Kong Securities and Futures Commission (SFC).

Webull is backed by credible assurances, such as its oversight by respected financial regulators and its provision of up to $500,000 in investor protection, the first $250,000 of which can be held in cash and insured by the Securities Investor Protection Corporation (SIPC).

Options, Exchange Traded Funds (ETFs), and US stocks may all be traded on Webull without incurring any commission costs, and there are no inactivity penalties, either. Thanks to the digital platform, creating an account is simple, paperless, and lightning fast. Various order types are available, and the trading interfaces are intuitively designed.

On the downside, Webull only offers a small selection of products, including stocks, ETFs, options, and crypto. Withdrawals and deposits may only be made by bank transfer. There is no live chat feature.

Everyone has access to high-tech resources that facilitate astute financial management. Stocks, options, exchange-traded funds (ETFs), and American depository receipts (ADRs) are just some of the financial tools available to help you diversify your portfolio. Use our trading tools and data to construct a diversified investment portfolio, including shares of hundreds of different firms. Strategically, options are an excellent complement to equity investments. Read also the Webull vs Moomoo review.

Acorns Invest vs Webull Service & Feature Comparison

Costs

Trading stocks and ETFs on Webull is free. As with similar brokers, there are no fees involved. Webull also facilitates the trading of OTC securities and fractional shares. To a maximum of 5% of principal value, the broker will charge $0.0002 per share for stocks with a price per share of less than $1. Webull doesn’t charge a commission or maintenance fees for fractional shares transactions.

Webull’s margin rates are something you should look at if you’re interested in trading stocks on margin.

Webull’s margin rates are around average for US brokers, although they’re significantly higher than competitors. When trading options on Webull, there is no commission fee. All exchange expenses associated with proprietary index options are passed on to the client by the broker. The fees charged by Acorns are more standard and independent of the underlying asset.

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Invest: $1/month

Budget your spending to the closest dollar and put your extra money into a tax-free account. In addition to making monthly deposits, investors can also earn rewards from retail partners that can be used to further fund their portfolios. The cheapest plan from Acorns costs you just $1 each month.

Invest + Later: $2/month

Investment tools are similar to Acorns, with the added benefit of being able to put money into an IRA (IRA).

Invest + Later + Spend: $3/month

Complete banking services, FDIC protection, and the opportunity to invest in Acorns and Acorns later using Roundup and cashback from local merchants are all part of the Acorns online checking account.

The digital checking account feature is the newest addition to the Acorns platform. The Acorns Spending Account is a full-featured checking account that reimburses ATM fees and allows for direct digital deposits, mobile check deposits, payment, and no limits on check writing.

Account Types

There are two Acorns subscription packages, depending on your individual financial commitments.

Acorns Personal – $3/month

Your individual investment, retirement, and checking account system is complete with a metal debit card, bonus investments, expert financial guidance, and more!

Acorns Family – $5/month

A family can open as many savings accounts as children as they have. Financial planning, savings, checks, retirement, bonus investments, and more.

You may set up Put to automatically invest your spare change into an ETF portfolio, or you can invest as little as $5 at a single, regularly, or both. Afterward, your money will be spread over 7,000 different stocks and bonds. Your Acorns portfolio will be automatically rebalanced to maintain your selected asset allocation.

In the future, you may set up simple Recurring Contributions to automatically save money in your retirement account. After entering your information, the app will suggest an IRA plan that best fits your needs in light of your current situation, future plans, and your current and expected income.

Our Acorns Checking account and debit card allow you to save, invest and earn as you spend. No costs are associated with using an Acorns checking account, whether an overdraft or a low balance.

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Education and Research

Webull provides various account information and research facilities, such as fundamental data, news, and charts, to aid traders in making educated investing decisions and locating companies to trade with. Webull lacks features like daily market updates, individual analyst reports, and in-depth portfolio analysis tools compared to full-service brokers.

Webull traders are on their own, as the Learning Center does not provide educational resources for investors. Instead, Webull offers text and screenshot-based guides for utilizing Webull’s many platforms and capabilities. Workstations, commonly used features, layout customization, and accessible trading tools are covered in various areas.

Range of Investments

OTC securities and fractional shares are available for trading by Webull customers. The broker charges $0.0002 for each share with a value below $1. Webull doesn’t charge a commission or maintenance fees for fractional shares transactions. Webull’s margin rates are something you should look at if you’re interested in trading stocks on margin.

Based on your information, risk tolerance, and financial objectives, Acorns will suggest the ideal portfolio for you to invest in. You are free to go with the suggested option or to select one of your own. Your Acorns investments are grounded in modern portfolio theory (MPT), which won a Nobel Prize in Finance. In most cases, the MPT framework prioritizes diversity over security selection.

Acorns will invest your spare change in exchange-traded funds (ETFs) across six asset classes. Self-directed trading accounts are not available through Acorns. As an alternative, it offers automated administration for 12 ETFs. A significant drawback of the Acorns platform is that it only allows users to buy and sell 12 different funds.

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Portfolios

Acorns’ portfolios comprise Exchange Traded Funds (ETFs), providing diversified market exposure. Over time, these ETFs will cost you roughly 0.10 percent of internal fees. Roundups and automatic payments into Acorns allow you to invest small amounts regularly. At the same time, the platform manages the rest of your savings based on your risk tolerance. If you’re utilizing Acorns’ most essential service, your savings will be held in a taxable investment account.

Depending on the portfolio, low-cost iShares and Vanguard ETFs are used to invest in four to six asset classes, such as big, medium, and small business stocks, international company stocks, various bonds, and real estate investment trusts. Included in the sustainable portfolio are bonds and equities from developing markets.

When it comes to portfolio analysis, Webull falls short. Nonetheless, it meets the requirements of the vast majority of independent investors. Downloadable tax forms, account statements, and confirmations may be accessed through the web or desktop platforms, and account performance indicators can be seen on the account website. The updates to the reports and data are instantaneous. Realized and unrealized gains and losses, gains and losses after deposits and withdrawals, dividend, and interest income, long- and short-term capital gains that have not yet been realized, the internal rate of return (IRR), and margin and purchasing power data are all part of the package.

Trading Technology

The desktop and mobile application platforms used by Webull are recent additions; thus, the interface is clean, straightforward, and user-friendly. The programs provide a wealth of helpful trading tools for the user. The news and fundamental business data are available on the adaptable workstation platform. Watchlists, stock screeners, charts, and average analyst ratings are just some features it offers. Even though there is a lot of information here, everything is organized in a way that makes it easy to use.

Webull’s interface is streamlined and straightforward. Webull’s interfaces—the website, the desktop client, and the mobile app—are equally polished. Being relatively new, the platforms all have the same sleek aesthetic.

Both the desktop computer and the internet have a similar layout, with the main menu and windows located in the same place on the left side of the screen. This tab displays account balances, positions, buying power, performance, risk level related to margin leverage, bank transfer access into and out of the account, and a dedicated paper trading area. Other tabs launch market overview pages, stock screeners, trading screens with a high degree of customization on the desktop platform, and a stock screener. Several subtle distinctions exist between the website and the workstation, and the website only offers single-leg configurations.

How They Work

In considering Webull and its operation, you should not consider it in terms of other services such as Acorns. Acorns is a stock market investment service that puts your spare change to work for you. However, you have no say over where your money is being invested. All of the work is completed mechanically without your intervention. Fortunately, Webull is not like that. For those serious about investing and trading online, there is Webull.

Webull gives you complete discretion over your investments. Webull is helpful for both short- and long-term investors, so day traders and those saving for retirement may utilize it.

For users interested in Acorns because of its “roundup” savings feature, the robo-advisor functions make the most sense. Every time a purchase is made with one of your connected accounts, the remaining change is placed in an investment account.

A popular aspect of Acorns is the automatic savings option. After linking an account, Acorns automatically invests the spare change from each transaction. There is no limit to the number of cards attached. Still, all roundups will be deducted from the associated bank account. Acorns automatically invest your spare change from online and in-store purchases by rounding up your purchases to the next dollar. Either automatically, wherein the app rounds up your purchases and transfers the change, or manually, you browse through your recent transactions in the app and choose which roundups to send.

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However, other robo-advisors provide better features at lesser prices. Users who don’t think Acorns will encourage them to save more shouldn’t bother applying.

The optimal Acorns portfolio for you will be the one that considers your investment objectives and comfort with risk. Suppose you are looking for more growth potential over the long term. In that case, you should consider a moderately or aggressively invested portfolio. Short-term investors and those seeking stable income from bonds should stick to more cautious investment strategies.

You’ll be keeping an eye on your primary Roundup account. You can select which purchases will automatically have their totals rounded up, and the extra change invested. With Round-Ups, Acorns will automatically add the change from your debit or credit card purchases to your investment account. When your Round-Ups® from all your connected accounts total $5 or more, we’ll invest it in your Acorns Invest account. Roundups are stored in and managed through your Invest account. It’s important to remember that your primary checking account is the one from which Round-Ups® are deducted.

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Customer Service

Webull has a limited customer assistance service since it caters only to younger, tech-savvy, self-directed clients who are primarily interested in the free trading opportunity. The average wait time to speak to a broker at Webull is over two hours. Yet, the company does not employ financial counselors.

The business phone is only staffed during business hours. During regular business hours, you may talk to a real person online.

As a customer of Acorns, you may reach out to us through our dedicated support page. We provide live chat, phone, and email assistance Monday through Sunday during work hours.

My Preference: Too Different To Really Compare

Different investors will find value in the features offered by the various investment platforms. Investing is crucial to one’s financial well-being. If you start saving for retirement, an emergency fund, etc., immediately, you’ll have a much simpler time. It’s up to you if you want to automate the process by using the Acorns app. Micro-investing may be an excellent way for beginners to gain expertise and knowledge due to its ease of use and minimal risk.

Acorns is an excellent software for novice investors just starting off. The card is used by the investor to make transactions online. Acorns round up your credit card purchases to the nearest whole dollar and put your spare change into savings. A user can set up a recurring investment to occur daily, weekly, or monthly. Acorns is a top contender when comparing Roundup investment apps. It is user-friendly, provides a great learning environment for novice investors, and has low, transparent costs.

The trader or active investor who doesn’t need constant guidance can benefit significantly from Webull. There are no hidden fees, so it’s attractive to people who want to test out trading. Zero fees are charged on stocks, ETFs, options, and cryptocurrencies, and there is no minimum account size. The margin rates are also quite competitive. In addition, you may use the free-cost trading tools offered by the platform’s desktop and mobile apps, which are well-designed and easy to use.

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