Acorns Canada is Not Available, Try These Alternatives Instead

| May 8, 2022
✓ Verified by Vishesh Raisinghani

Acorns Canada is not available.

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 Trade


Simple to use platform that caters to new investors.


  • Unlimited trades with no commission on most Canadian stocks and ETFs.
  • Platform that is easy to navigate.


  • Lack of advanced features such as technical analysis tools.


Aims to help people start investing by rounding up change from everyday purchases up to the nearest whole CAD and using the difference to invest.


  • Allows users to save as easily as they spend money.
  • The fees remain fixed regardless of the size of the portfolio.


  • Limited options for investing, not for the advanced investor.


Low-cost platform that includes a variety of research tools.


  • User-friendly browser and mobile app.
  • No fees for registered accounts (TFSA, RRSP).


  • A subscription is needed to stream real time quotes and research options are limited.

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

Wealthsimple Trade

Wealthsimple Trade is a good platform for retail investors.

They offer extensive educational material for their users to make smarter financial decisions.

The platform is sleek and intuitive.

Wealthsimple came out with their own version of roundup which was launched in 2018.

Wealthsimple Trade also offers robo-advisor services where an investor can choose their personal risk tolerance and automate their investments.


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.


Questrade is an investing platform with both a browser and mobile app that are intuitive and easy to use.

They offer TSFAs and RRSPs for clients who are interested in opening these types of accounts and have some of the lowest fees in the industry.

The platforms offer a variety of tools for technical analyses that both amateur and veteran traders can use.

Questrade has expanded its product line to include online mortgage services in an attempt to break into the mortgage lending market.

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.

Acorns open on laptop on desk

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?

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