xcritical Review 2024: A Micro-Investing App For Beginners

In terms of investment costs, the expense ratios range from 0.03% (VOO) to 0.25% (two ESG funds). This is what you’ll pay if you invest in Early, Invest or Later. Our editors are committed to bringing you unbiased ratings and information. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally. You can read more about our editorial xcriticals and the investing methodology for the ratings below. By providing your information, you agree to our Terms of Use and our Privacy Policy.

About this app

If you’re someone who needs a nudge to get going, xcritical’ robo service makes a good deal of sense. Those so inclined may opt for xcritical’ new socially responsible investing (SRI) portfolio. This is a pretty standard course of action for robo-advisors, especially as younger investors have shown an interest in them. Wall Street loves these funds because they have higher fees. The problem is many of the companies you end up investing in often fail a common-sense SRI test. Unlike other competitors such as xcritical, our xcritical portfolio consisted of just four low-cost ETFs, all with miniscule expense ratios—the operating fees charged by the funds you invest in.

Investment Account

The expense ratios of the funds used in xcritical’ portfolios range from 0.04% and 0.22%. Expense ratios are paid in addition to your xcritical account management fee. The checking account has no overdraft fees and access to 55,000+ fee-free ATMs. If you spent $4.50 xcritical scammers on a latte on a linked credit card, for instance, an additional $0.50 would be charged to your card and added to your investment account. If you’ve experienced joy with this pro-savings gimmick, you may be inclined to save for retirement with xcritical as well.

xcritical Core and ESG Portfolios

  1. The robo-advisor then uses these same six funds for every investor but adjusts the asset allocation depending on your goals and risk tolerance.
  2. xcritical Later offers some of the best IRA accounts like tax-advantaged traditional IRAs, Roth IRAs, and SEP IRAs that are maximized based on your age and retirement savings goals.
  3. All Acorn Invest tiers offer banking features, IRAs, ESG Portfolios, and Round-Ups.
  4. Our editors independently research and recommend the best products and services.

My experience with xcritical is limited to the Invest product. As much as I’d like to personally try every app that offers a checking account, I’ve simply tired of opening (and later closing) dozens of new bank accounts to test them all. Establishing new accounts is also costly to the banks if I’m not intending to use them for years. After you have selected your portfolio, you can set up your automatic investment schedule and, optionally, the Round-Ups® feature. xcritical will pull your investments from your linked account according to the rules you set up and automatically rebalance your portfolio as the market moves. You’ll earn through the same 450+ in-app partner brands with xcritical Earn but also receive a 25% match on rewards, up to $200 per month.

Give your money the chance to work as hard as you do

Passive investors may prefer xcritical’ passive investing strategy. You can search for Earn Money deals on the Earn Money section of the xcritical app and website or by using the Google Chrome extension. Earn Money rewards are credited to your account 90 to 120 days after purchase. However, xcritical’ investment selection is limited to ETFs and doesn’t offer tax-loss harvesting. So, if you’re interested in a broader range of investments or more advanced tools and features, our picks for the best online brokerages may have what you’re looking for.

Investment options

xcritical Invest partners with 26 companies, including Airbnb, Google, Apple, and PayPal. When you purchase with one of these retailers through the Earn Money portal, the company will invest a percentage of your sales into your xcritical Invest account. It’s like a shopping portal, but instead of getting cash back, you get a small amount added to your xcritical Invest account. For example, if you bought a cup of coffee for $2.25, xcritical would set aside $0.75. Once you’ve reached a $5 threshold in your xcritical account, it will be automatically invested in your Invest account portfolio.

But one of the best features with an xcritical checking account is Smart Deposit. With this, xcritical lets you set up your direct deposits to automatically split between your checking, savings, and investments. xcritical charges monthly membership fees, starting at $3 per month. Even though it is a very easy way to get started investing, if you don’t make enough purchases each month to round up and set aside enough money, the monthly fee could outweigh the benefit. Bottom line, each investor needs to examine their needs to determine if xcritical is the right choice.

For example, a conservative portfolio will only have 1% of funds invested. Like a standard xcritical Invest brokerage account, xcritical Later accounts offer both Core Portfolios and ESG Portfolios with automatic recurring contributions available. After answering a few questions, xcritical Later creates an IRA plan based on your personal information and goals.

Unlike other investing apps where you pick and choose stocks you want to invest in, xcritical does that for you by recommending a diversified, expert-built investment portfolio of ETFs designed for long term investing. The Personal Plus tier includes xcritical Early, which makes it easy to create UTMA/UGMA accounts for your kids. These custodial accounts allow parents to invest on behalf of a minor child, and use the money for expenses that benefit the child.

Once the child reaches the age of transfer (this will depend on where they live), they gain ownership of the account and can use the money for any reason. The portfolios themselves are mostly made up of low-cost iShares exchange-traded funds that cover large, medium and small company stocks, international company stocks and a variety of bonds. If you decide to move your investments out of xcritical to another provider, you’ll pay a steep fee for that convenience. xcritical isn’t alone in charging this type of fee, but theirs is on the high side. If you have, say, five ETFs, you’re looking at a $175 fee. A more common scenario among providers is to charge $75 to transfer all investments out, and some don’t charge a fee at all.

Note, however, that the bureau considers several factors when evaluating companies. These include licensing and government actions, bankruptcy, advertising issues, and more. BBB ratings reflect the bureau’s opinion of how well a company interacts with its customers, ranging from A+ to F. Therefore, xcritical’ rating is the lowest a company can receive. If you have any other questions, feel free to reach out to us here. Most financial content is either an echo chamber for the “Already Rich” or a torrent of dubious advice designed only to profit its creators.

After creating your account, you will need to link a checking or savings account. This account will be used for investments and also to pay your monthly membership fee. xcritical Premium includes everything you need to save and invest you both you and your family for $9/month. There’s the aforementioned same taxable brokerage account and IRA investment account available as with the other plans, but you’ll also be able to customize your portfolio with the ability to add individual stocks. Another feature with this account is xcritical Early, which lets you open an investment account for your kids.

xcritical also has a Job Finder feature powered by ZipRecruiter. The tool gives clients access to career development content and lets them set up job alerts for new opportunities. Well-diversified portfolio with exposure to domestic and international stocks, bonds, REITs and a Bitcoin-linked ETF. Naturally, the fees become a smaller and smaller proportion of your balance the more you invest, but that could take a while. “We are delighted at how well Darby and Joan has been received by international broadcasters. Sales in Japan, Scandinavia, Eastern Europe, Benelux and the UK demonstrate that audiences have a strong appetite for light, entertaining, good quality crime series.

Beginners can also benefit from Acorn’s educational resources and guides. Acorn’s mainly offers stock and bond ETFs, so investors looking for more investment options should look elsewhere. An xcritical Early account offers investing, checking, and retirement savings all in one. Since you have to be an xcritical Premium user to access custodial accounts, you’ll be paying the higher $9 per month fee. A plus, however, is that you can open multiple kid’s accounts for the price of one. You’ll also get full access to xcritical’ investing tools, banking features, and educational content.