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Acorns VS First Binary Option Service

Compare Acorns VS First Binary Option Service and see what are their differences

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Acorns logo Acorns

Automated portfolio management monitoring your investments

First Binary Option Service logo First Binary Option Service

First Binary Option Service is the right place for online trading on financial markets that offers instant access to up to 100 assets of the world’s leading companies.
  • Acorns Landing page
    Landing page //
    2022-09-16
  • First Binary Option Service Landing page
    Landing page //
    2023-05-16

Acorns features and specs

  • Automatic Savings
    Acorns automatically rounds up your purchases and invests the spare change, making it easy to save and invest without much effort.
  • Low Starting Investment
    You can start investing with as little as $5, making it accessible for individuals who are new to investing or have limited funds.
  • Ease of Use
    The platform is user-friendly, with a simple interface that is easy to navigate, making investing approachable for beginners.
  • Diversified Portfolios
    Acorns offers a range of diversified portfolios tailored to different risk levels, which are managed by professionals.
  • Educational Resources
    Provides educational content and tools to help users understand investing and personal finance better.
  • Retirement Accounts
    Offers IRA accounts for those looking to save for retirement, providing tax-advantaged investment options.
  • Found Money
    Offers a cashback program through partnerships with various brands, where users can earn extra money invested into their Acorns account.

Possible disadvantages of Acorns

  • Fees
    Acorns charges a monthly fee ranging from $1 to $5 depending on the plan, which can be relatively high for small account balances.
  • Limited Investment Options
    Investors are limited to pre-selected portfolios, which restricts those looking for more control or specific investments.
  • Potential for Small Gains
    The round-up investment approach may result in relatively small amounts being invested, potentially leading to slower growth.
  • No Tax-Loss Harvesting
    Unlike some other robo-advisors, Acorns does not offer tax-loss harvesting, which can be a useful feature for minimizing taxable gains.
  • Customer Service
    Some users report that customer service can be slow or unresponsive, which could be a concern for account issues or urgent inquiries.

First Binary Option Service features and specs

No features have been listed yet.

Acorns videos

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What you MUST know about Acorns Investing

More videos:

  • Review - Acorns App After 9 Months| Acorns Investing App Review 2019
  • Review - Is the Acorns App Good for Investing? Our Honest Review

First Binary Option Service videos

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First Binary Option Service Review

More videos:

  • Review - [BFB] Interesting Binary Option Brokers. First Binary Option Service

Category Popularity

0-100% (relative to Acorns and First Binary Option Service)

Acorns

First Binary Option Service

Finance
81 81%
Finance
19% 19
Personal Finance
100 100%
Personal Finance
0% 0
Investing
73 73%
Investing
27% 27
Fintech
88 88%
Fintech
12% 12

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare Acorns and First Binary Option Service

Acorns Reviews

2017: Top 9 Personal Budget Software Apps
You probably won't miss the money and you won't even have to drain your savings to maintain the app. Acorns offers two plans, Lite and Personal. As of June 2020, Lite costs $1 per month and allows you to invest your spare change with round-ups, plus you can earn bonus investments from over 350 of Acorns' Found Money shopping partners. Personal costs $3 per month and comes...
Source: www.thebalance.com
2016 Australian Robo Adviser Roundup
Launced in January 2016 and possibly the one that has generated the most buzz, Raiz (formerly known as Acorns) has a unique model where it invites investors to link up their bank accounts and credit cards, and then offers to round up all their transactions to the nearest dollar and invest this amount into an ETF portfolio. It is effectively a piggy bank for the modern day....
Source: www.etfwatch.com.au

First Binary Option Service Reviews

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What are some alternatives?

When comparing Acorns and First Binary Option Service, you can also consider the following products

Quicken - Stay in control of your monthly cash flows, budgets, and expenditures. Quicken provides a navigable interface where you can organize your debit, credit, and savings, and build good habits accordingly.

Wealthfront - Automated, low cost investment service

Mint - Free personal finance software to assist you to manage your money, financial planning, and budget planning tools. Achieve your financial goals with Mint.

IQ Option - All-in-one trading app. Invest in top stocks and brands

Robinhood - Free stock trading service.

Bloombex - Bloombex is another Binary Options Broker that uses the intuitive, modern SpotOption trading platform.

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