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Ally Invest vs Merrill Edge

Ally Invest is a good low-price discount stock broker for savvy investors. How does it compare to Merrill Edge? Read our comparison chart below.

Ally Invest (formerly TradeKing) offers stock trades at $4.95 per trade and options trading at $4.95 + $0.65 per contract. There is no minimum deposit.

While Merrill Edge (a subsidiary of Bank of America) offers stock trades at $6.95 per trade and options trading at $6.95 + $0.75 per contract. BofA customers can get 30 free trades a month if balance requirements are met. There is no account minimum, no maintenance fee, and no inactivity fee.

Compare Ally Invest with Merrill Edge, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 Ally Invest
 Visit SiteLearn More
 

Ally Invest

Merrill Edge

SPECIAL OFFER
Get Up to $3,500 Cash Bonus and Commission Free Trades for 90 Days - Learn More

Read Ally Invest Review

SPECIAL OFFER
Get $150 with New Merrill Edge Account - Learn More

Read Merrill Edge Review

 

Benefits and Features

Stock Trading$4.95 per trade ($3.95 per equity trade special pricing for high-volume/high-balance traders)
$6.95 per trade
Options Trading$4.95 base + $0.65 per contract ($0.50 per options contract special pricing for high-volume/high-balance traders)
$6.95 + $0.75 per contract
Minimum Deposit
$0
$0
Mutual Fund Trading$0 to buy/sell load mutual funds
$9.95 to buy/sell no load mutual funds
$0 for no load, no-transaction-fee funds ($39.95 short-term redemption fee if the fund is held less than 90 days) $19.95 for no load, transaction-fee funds
Commission Free ETFs100+ including ETFs from WisdomTree
None
Penny Stocks$0.01 per share on the entire order for stocks priced less than $2.00. Maximum commission per order not to exceed 5% of the trade value, with minimum commission of $4.95. 
Broker Assisted Trades
$20 + Regular Commission
$29.95
Customer Service
(855) 880-2559 (Open 24/7)
24/7
Inactivity Fee 
None
Maintenance Fee 
$0
BankingIntegrated with banking on ally.com. Manage your Ally banking and investment accounts in one place.
Through Bank of America
Mobile App
Yes
Desktop App 
Yes
Forex Trading
No
Futures Trading
No
Locations More than 2,100 Bank of America locations
Online CommunityTrader Network to connect with other investors
No
Seminars 
Yes
Virtual Trading 
No
 

CreditDonkey® Reviews

 Ally Invest
Stock Trading
Options Trading
Banking
Mobile App
Commissions and Fees
Ease of Use
Online Community
Research
Trading Platform
Mutual Fund Trading
Online Platform
Pros & ConsPros:
  • Low commission for stock trades
  • No account minimums
  • Ally LIVE platform
Cons:
  • No physical locations
Pros:
  • No account minimums
  • Current Bank of America customers experience seamless account integration
  • Robust research opportunities
Cons:
  • Platform is not friendly for frequent traders who execute quick trades
  • No commission-free ETFs available
  • Market research reports can be hard for beginners to understand
Bottom LineGood low-price discount stock broker for savvy investors... Read full reviewAffordable online broker with robust research options for small to mid-size investors... Read full review
 Visit SiteLearn More
What Others View

    Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

    Ally Invest: Pricing information from published website as of 3/15/2019.

    Merrill Edge: Pricing information from published websites as of 3/15/2019

    Which is Better: Ally Invest or Merrill Edge?

    Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing Ally Invest or TD Ameritrade.

    In short: Ally Invest's options trading and commissions and fees are impressive. Merrill Edge's mobile app and research are impressive.


    Articles on Ally Invest


    Articles on Merrill Edge


    Which Do You Think is Best?


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