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Merrill Edge vs Ally Invest

Merrill Edge is an affordable online broker with robust research options for small to mid-size investors. How does it compare to Ally Invest? Read our comparison chart below.

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.

While 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.

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

 Ally Invest
 Learn MoreVisit Site
 

Merrill Edge

Ally Invest

SPECIAL OFFER
$100 Bonus Offer - Learn More

Read Merrill Edge Review

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

Read Ally Invest Review

 

Benefits and Features

Stock Trading
$6.95 per trade
$4.95 per trade ($3.95 per equity trade special pricing for high-volume/high-balance traders)
Options Trading
$6.95 + $0.75 per contract
$4.95 base + $0.65 per contract ($0.50 per options contract special pricing for high-volume/high-balance traders)
Minimum Deposit
$0
$0
Mutual Fund Trading$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$0 to buy/sell load mutual funds
$9.95 to buy/sell no load mutual funds
Commission Free ETFs
None
100+ including ETFs from WisdomTree
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
$29.95
$20 + Regular Commission
Customer Service
24/7
(855) 880-2559 (Open 24/7)
Inactivity Fee
None
 
Maintenance Fee
$0
 
Banking
Through Bank of America
Integrated with banking on ally.com. Manage your Ally banking and investment accounts in one place.
Mobile App
Yes
Desktop App
Yes
 
Forex Trading
No
Futures Trading
No
LocationsMore than 2,100 Bank of America locations 
Online Community
No
Trader Network to connect with other investors
Seminars
Yes
 
Virtual Trading
No
 
 

CreditDonkey® Reviews

 Ally Invest
Stock Trading
Options Trading
Mutual Fund Trading
Online Platform
Banking
Mobile App
Commissions and Fees
Ease of Use
Research
Online Community
Trading Platform
Pros & ConsPros:
  • 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
Pros:
  • Low commission for stock trades
  • No account minimums
  • Ally LIVE platform
Cons:
  • No physical locations
Bottom LineAffordable online broker with robust research options for small to mid-size investors... Read full reviewGood low-price discount stock broker for savvy investors... Read full review
 Learn MoreVisit Site
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.

    Merrill Edge: Pricing information from published websites as of 07/20/2019.

    Ally Invest: Pricing information from published website as of 07/18/2019.

    Which is Better: Merrill Edge or Ally Invest?

    Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing Merrill Edge or Betterment.

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


    Articles on Merrill Edge


    Articles on Ally Invest

      Ally Invest

      Ally Invest (formerly TradeKing) offers one of the lowest trade fees, but is it good? Learn the pros and cons and see comparisons with other online brokers in this in-depth review.

      Ally Invest Roth IRA

      Ally Invest's Roth IRA account has no annual fee and low trade commissions. Is it right for your retirement funds? Read on to learn how Ally Invest Roth IRA accounts work.

      Ally Invest Fees

      Ally Invest offers managed portfolios for low fees and no minimum deposit for self-directed trades. But is it good for beginners? Read on for the answer.

      Ally Invest Login

      Ally Invest offers 24/7 customer service and online login access. The best way to connect with Ally Invest customer service may surprise you. Read on.

    Which Do You Think is Best?


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