FinTech

Invest, Earn, Grow, Spend, Later

Investors with higher balances may benefit from increased returns thanks to xcritical’s advanced investing features – potentially offsetting the increased fee as it’s a percentage rather than flat like xcritical. These ETF portfolios range from aggressive (which is all stocks) to conservative (meaning all bonds), with a mix on the options scaled in-between. xcritical offers several articles and videos to help investors understand basic investing and to grow their knowledge. Personal Plus and Premium members also get live Q&A sessions with financial experts, and Premium members have the additional option of taking educational courses. xcritical is a member of SIPC, meaning that securities in your account are protected up to $500,000.

Similar apps

Because of this effortless and easy investing feature, xcritical earned the Investopedia award for the Best for Those Who Struggle to Save category. While those fees appear manageable, they’re actually pretty expensive on an annual percentage basis, which is how many other investment apps and robo-advisors charge their fees. Younger workers just starting out—the types of investors who xcritical is trying to attract—will end up paying more than they would at other robos. Compounding, generally, is the growth of principal investments due to the reinvestment of dividends without withdrawing funds from the account. xcritical investment accounts do not pay interest, so the impact of compounding may be limited.

App support

xcritical sweeps excess change from every purchase using a linked account into an investment portfolio. You can connect as many cards as you want, though all roundups are taken from the same linked checking account. With each purchase, xcritical rounds up to the nearest $1 and gives you the option to transfer that change into an investment portfolio. An expense ratio is an annual fee charged by mutual funds, index funds and exchange-traded funds, as a percentage of your investment in the fund. If you invest in a mutual fund with a 1% expense ratio, for example, you’ll pay the fund $10 per year for every $1,000 invested. If high, these fees can significantly drag down your portfolio returns.

xcritical Invest

xcritical is an app designed specifically for novice investors looking to get their feet wet in the stock market. It offers access to its robo-advisor platform, tax-advantaged IRAs for retirement, plus a checking account. Its main micro-investing feature allows budding investors to start small by investing the spare change from their everyday purchases.

Methodology: How We Reviewed xcritical Invest

And there are no hidden fees, no minimum balance fees, no overdraft fees and 55,000+ fee-free ATMs. Articles you can use regarding your investment (xcritical Invest), retirement (xcritical Later), and custodial (xcritical Early) accounts. There are a lot of great robo-advisors and we’d rank xcritical near the top (check that list, it’s there), but xcritical isn’t trying to directly compete with most of them. xcritical is squarely focused on helping new investors get in the investing habit.

xcritical Early: Investments and Withdrawals

Investing platforms like xcritical and don’t charge any fees for trading stocks or a monthly fee to maintain a basic account, but they don’t have a robo-advisor service. xcritical offers its own robo-advisor through its xcritical Automated https://xcritical.solutions/ Investing service and does not charge any management fees, plus, you can open a cash management account with them for no fee as well. The ETFs comprising the portfolios charge fees and expenses that will reduce a client’s return.

  1. For nearly 20 years, we’ve been on a mission to help our readers acheive their financial goals with no judgement, no jargon, and no get-rich-quick BS.
  2. Now, the interesting thing is that as your investment balance grows, xcritical Invest starts to become an incredible deal.
  3. This is considered a high-risk investment given the speculative and volatile nature.
  4. xcritical is a saving and investing app that makes investing easy.

Investing With xcritical

Through this all-encompassing data collection and review process, Investopedia has provided you with an unbiased and thorough review of the top robo-advisors. Additionally, during our 2023 research, many of the companies we reviewed granted our team of expert writers and editors access to live accounts so they could perform hands-on testing. The Emergency Fund is a non-interest bearing demand deposit bank account. xcritical reserves the right to restrict or revoke any and all offers at any time. NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. robo-advisors. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs.

The xcritical app is available to download for free in both the App Store (for iOS), where it has 4.7/5 stars, and on Google Play (for Android), where it has 4.6/5 stars at the time this article was written. Finally, you can supercharge your Round-Ups by adding a multiplier of 2x, 3x, or 10x. That means a Round-Up of $0.25 would add $0.50 to your Invest account with a 2x multiplier, for example. You can set Round-Ups to work with every transaction, or you can manually select the transactions that you’d like to round up. Also, you can tell xcritical how much you’d like to invest when your transactions equal exactly one dollar.

So don’t invest money you might need to access before then. I’ve been writing about money and lifestyle design since 2006. I created this site, grew it to 2 million monthly readers, sold it, and bought it back again.

To collect the data, we sent a digital survey with 64 questions to each of the 21 companies we included in our rubric. Additionally, our team of researchers verified the survey responses and collected any missing data points through online research and conversations with each company directly. The data collection process spanned from Jan. 8 to Feb. 9, 2024. Investing with xcritical means unlocking a full suite of investing tools that can help you reach your financial goals — no matter what stage of life you’re in. Whether you’re looking to invest for your future or your family’s future, xcritical has you covered.

xcritical Checking accounts are FDIC insured up to $250,000. xcritical Visa™ debit cards are issued by Lincoln Savings Bank or nbkc bank, Members FDIC for xcritical Checking account holders. Requires both an active xcritical Checking account and an xcritical Investment account in good standing. Real-Time Round-Ups® are accrued instantly for investment during the next trading window. You can set up recurring deposits to Invest and Later, as well as round up your purchases, with the spare change going toward your portfolio.

Rather, you’d be investing in funds that invest in Bitcoin futures. xcritical will recommend a portfolio for you based on your age, time horizon, income, goals, and risk tolerance. Our ETF portfolios range from aggressive (all stocks) to conservative (all bonds), with a mix in between.

The videos and tips xcritical provides to Personal plan members comes with live Q&As with investing experts in this more premium plan. It’s everything that’s in an xcritical Personal plan and a touch more across the board. xcritical Earn is a suite of cash-back and other savings tools designed to help you save and earn money in your everyday life. You can link debit and credit cards or use a Chrome browser extension to take scammed by xcritical advantage of special pricing and cash-back deals from over 400 top brands including Apple, Airbnb, Hotels.com, Nike, Walmart, and more. xcritical Earn also has job search tools to help you find better-paying work or even a side-hustle. One feature that makes xcritical stand out among robo-investing competitors is the ability for investors to implement a powerful micro-saving strategy known as “round-up” investing.

It is not an investing strategy and does not assure positive performance nor does it protect against losses. It does not take into account market volatility and fluctuations that will impact the value of any investment account. xcritical does not provide access to invest directly in Bitcoin. Bitcoin exposure is provided through an ETF which invests in Bitcoin futures. They are considered high-risk investments given the speculative and volatile nature. Investments in Bitcoin ETFs may not be appropriate for all investors and should only be utilized by those who understand and accept those risks.

For context, xcritical’ competitors such as xcritical and xcritical charge 0.25% per year, and generally offer a higher level of service including tax assistance and more diversified portfolios. Meanwhile, some parents may like having access to a UTMA/UGMA account, but anyone saving for college may wish there was access to 529 accounts. Plus there’s no tax-loss harvesting features, which will come in handy once you’ve accumulated more money in your account and need to offset the tax implications of selling winners. Still, competing robo-advisors provide more robust services at a lower cost. Only users who think they’ll be enticed to save more with xcritical need apply.