Have you heard of Acorns?

Discussion in 'Online Brokers' started by Sugarhill, Oct 6, 2014.

  1. Sugarhill

    Sugarhill Guest

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    It's a new application in which you are able to invest in the market through your credit card or bank account, but the catch with them is that they allow you to use the round up method with your credit card to fund the account. Basically, as you go about your day shopping, the extra change goes into your account and after, I believe $5 is accumulated, they invest it for you in your portfolio.

    I think the iPhone app is already working and I know that they are testing out the Android version. I've decided that this is the route that I am going to go with upon my re-entry back into investments, although I know that seasoned investors weren't too impressed with the service fees.
     
  2. troutski

    troutski Guest

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    It's an interesting idea, although I don't like how you can't decide specifically what to invest in. You can create your portfolio investing style, but the company still chooses where the money actually goes. It's decent for new investors, but the $1 per month fee and 0.5% annual fee can cut into your earnings from the very beginning. It's good for small or new investors, but I wouldn't use it myself.
     
  3. Sugarhill

    Sugarhill Guest

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    I think the reason why I like it or am at least willing to try it, is that it doesn't seem that much different from a 401K. I've never had one where I could specifically choose where the money was going, only how aggressive I wanted them to invest my money.
     
  4. dianethare

    dianethare Senior Investor

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    Question, does it cater for international investors or its limited to investors in certain specified countries?...looks like a promising site from the looks of it :)...kindly share more in that regard.
     
  5. Sugarhill

    Sugarhill Guest

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    From what I have read, thus far, it's only for investors in the U.S. I do believe that they are working on something for international investors.
     

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