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Can international students with F-1 Visas invest using Acorns app?
Anonymous2 views4 answers
Greetings,
I have recently posted a question on here asking if international students holding F-1 Visas can invest in the US. The majority of the responses said that international students can since they are considered to be "passive investments".
Acorns is a mobile application that connects to your bank account and invests your spare change from daily transactions. The app says is only for "Legal US Residents", but I believe they say that because they ask for a SSN for taxing purposes, which international students can actually have (how else would they be able to invest in the US?).
My question is, why can I invest in the U.S. through Wells Fargo, for example, and why can't I invest using this mobile app if they both handle "passive investments"?
I recall your question earlier this week and I did not respond because I can present an argument either way. If you invest your money in the stock market and adopt a Warren Buffett approach, you should be fine since you will leave your investments alone for a long time. If you decide to buy and sell on a constant and regular basis, then you will have problems. If someone is actually doing the buying and selling for you , you should be all right. Good luck to you.
