Is Acorns Available in Canada?

Acorns open on laptop on desk
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Acorns investing app is not available in Canada.

Acorns is a financial services company that operates a popular investing platform.

It allows users to round up each purchase and invest the cents rounded up to a full dollar into different exchange-traded funds (ETFs) depending on the user’s risk tolerance.

Alternatives to Acorns for Canadians

Wealthsimple Logo

Wealthsimple Trade


  • No account minimums required.
  • Easy-to-use mobile and web platforms.


  • Plus subscription required to have a USD account to avoid FX fees.
  • Lack of advanced features such as options trading.
Questrade Logo



  • No fees to purchase ETFs.
  • Easy to navigate mobile and desktop platform.


  • Minimum account balance of $1,000 is required to trade.
  • Subscription required to stream real time quotes.
Moka Logo



  • Built to help users save money as quickly as they can spend it.
  • The fees don’t change regardless of the portfolio size.


  • Only has a very basic interface.
  • Limited options for investing, not for the advanced investor.

While Acorn does not currently operate in Canada, there are several alternatives that offer similar features.

Wealthsimple Trade

When looking for alternative trading platforms in Canada, Wealthsimple Trade offers an easy-to-use platform, low-cost fee structure, and a variety of service offerings to meet different needs.

Wealthsimple Trade offers a friendly interface and easy-to-navigate platform.

Account setup is extremely straightforward and can all be done through the mobile application.

Once you have an account, it is easy to search for stocks and make your first purchase.

While Wealthsimple did not initially offer a web-based platform, the feature has recently been added.

Both web and mobile offer a similar sleek and polished experience, making trading much more accessible to newer traders.

Wealthsimple Trade offers commission-free trading for most Canadian stocks and ETFs.

With a regular account, only Canadian dollars can be held, meaning that purchasing U.S. equities requires a 1.5% transaction fee.

However, the recent addition of their Plus subscription for $10 per month provides users with USD accounts or the ability to hold funds in USD.

Wealthsimple Trade offers fewer account options than other platforms.

Currently, only three types of accounts can be opened: RRSP, TFSA, and non-registered personal savings accounts.

While the selection is limited, many traders will prefer to trade in either an RRSP or TFSA due to the tax benefits associated with these accounts.

The lack of additional account options should not dissuade traders from choosing Wealthsimple Trade.

Wealthsimple Trade also recently began offering fractional trading on a limited number of Canadian and US equities.

As previously mentioned, this feature has received lots of positive reviews, as newer traders in Canada have long looked for opportunities to purchase stocks in companies like Amazon or Tesla.


Questrade has been around in the Canadian market for over 20 years.

During this time, the company has consistently been rated amongst the top investing platforms in the country by offering low-fee trading and a variety of services that cater to both amateur and experienced traders.

Just like Interactive Brokers, Questrade offers a few different account options depending on user needs.

Regular accounts have commissions ranging from $4.95 to $9.95 for most Canadian and U.S. stocks. The company also offers an Active Trader package which can bring commissions down to as low as $0.01 per share.

Aside from stocks, Questrade offers access to several other assets including ETFs, options, forex, CFDs, mutual funds, bonds, GICs, and commodities.

In terms of account types, Questrade offers a large range of both registered and non-registered accounts.

This variety opens up investing to those with different financial goals, from saving for education to retirement planning.

Money can be held in either USD or CAD, which can allow traders to buy and sell both Canadian and U.S. equities with ease while saving higher-frequency traders hundreds of dollars in transaction fees each year.

One feature not offered by Questrade is fractional share trading.

In this area, both Interactive Brokers and Wealthsimple Trade come out ahead.

Both the mobile application and desktop application are fairly straightforward and easy-to-use.

A variety of customization options are available, allowing traders to focus on what is important to them.


Moka is a platform similar to Acorns that takes the remainder of each purchase and rounds it to the nearest dollar to invest based on the person’s unique risk tolerance.

Each rounded-up portion is invested, opening up access to the stock market with little capital.

Their aim is to make investing accessible to all Canadians and assist in building wealth through everyday life and purchases.

Will Acorns be coming to Canada?

Acorns is currently only available in the United States and has not come forth with any plans to expand into Canada.

What is Acorns?

Headquartered in Irvine, California, Acorns was founded by Jeff and Walter Cruttenden in 2012 who also happen to be father and son.

The mobile app came out in 2014.

Their platform works as a roboadvisor – an algorithm that auto-invests in low fee ETFs.

These ETFs attempt to mirror index funds such as the S&P 500.

It’s different from other investment platforms in the sense that it links to clients’ credit and debit cards and rounds any transaction made up to the nearest dollar.

The spare change is what gets invested through the Acorns platform.

Fun Fact!

In 2020, Acorns partnered with Ziprecruiter to allow its users to search and apply for jobs through the platform.

Frequently Asked Questions

  • Is Acorns available to Canadians?
  • Does Acorns work outside of the United States?
  • How does Acorns make money?
Baggio Ma

Baggio has been investing for nearly a decade, using the perspectives gained from his work experience in the private, public, and non-profit sectors to shape his investment outlook. He has a specific interest in the potential of emerging disruptive technologies and their impact on the future.