Acorns - Invest Spare Change for Android

Acorns allows you to open an investment account from your phone in only a few steps. It offers low fees and a number of tools to allow you to invest in the fashion that you feel most comfortable.

Pros

Automatic round-up investing: One of Acorns' main selling points is that it allows you to invest your change. In essence, whenever you buy something, Acorn will round up that amount to the nearest dollar, and then help you invest your change into an investment account. You can require that you manually push this through, or you can have it happen automatically.

Designed for small investors: Acorns is aimed at the little guys, offering very low fees and no account minimums or penalties for low balances.

Well-designed software: The app itself looks modern, is very easy to read, and can be navigated easily by someone who has never seen it, or other investment software, before.

Cons

Impractical: Such small investments won't return much.

Bottom Line

If you've never been brave enough to invest before, this app provides a great entry point. The price to entry is so low, and the app is so easy to use that anyone should feel comfortable dipping their toe into the investment pool.