The best alternatives to Merrill Edge are
- TD Ameritrade - US-based stockbroker
- Charles Schwab - US discount broker
- Vanguard - US stockbroker
- Chase You Invest - US-based discount broker
Let's see in a bit more detail how the Merrill Edge alternatives compare to Merrill Edge and each other:
| Merrill Edge | TD Ameritrade | Charles Schwab | Vanguard | Chase You Invest | |
|---|---|---|---|---|---|
| Overall score | 4.8 | 4.8 | 4.8 | 4.3 | 4.5 |
| Fees score | 4.4 stars | 4.3 stars | 4.4 stars | 3.6 stars | 4.7 stars |
| Account opening score | 5.0 stars | 2.9 stars | 4.5 stars | 4.4 stars | 5.0 stars |
| Deposit and withdrawal score | 2.2 stars | 2.2 stars | 2.2 stars | 2.4 stars | 2.1 stars |
| Web platform score | 4.3 stars | 4.3 stars | 4.2 stars | 3.4 stars | 2.9 stars |
| Markets and products score | 2.3 stars | 3.9 stars | 3.3 stars | 2.8 stars | 2.1 stars |
| Visit broker | Visit broker | Visit broker | Visit broker | Visit broker |
Why are these brokers considered good alternatives to Merrill Edge? There are many areas based on which Merrill Edge can be compared with others. When we say a given online broker is a good alternative to Merrill Edge we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
Merrill Edge alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- Merrill Edge is recommended for investors and traders who looking for low fees, quick account opening, and simple platforms
- TD Ameritrade is recommended for investors and traders looking for solid research and a well-equipped desktop trading platform
- Charles Schwab is recommended for investors and traders looking for solid research, low fees and great customer service
- Vanguard is recommended for long-term investors who are looking for great etf and mutual fund offers
- Chase You Invest is recommended for beginners and buy-and-hold investors focusing on the us stock market
Important factors of finding Merrill Edge alternatives
So far BrokerChooser has reviewed 63 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether Merrill Edge or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Merrill Edge is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Merrill Edge alternative.
Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At Merrill Edge this is not a problem as you can have it ready on the same day you registered.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at Merrill Edge, some alternatives might allow you to do that.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Merrill Edge alternative is a must.
Now let's dive into the details of how Merrill Edge and its alternatives perform in the most important areas!
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Merrill Edge alternatives
Merrill Edge
Merrill Edge is US-based discount broker founded in 2010 by Bank of America (BofA). BofA had acquired Merrill Lynch during the financial crisis, and it launching Merrill Edge was a way to combine its online investing arm and Merrill Lynch's investment knowledge. Merrill Edge offers US stocks, ETF, options, and bonds. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Merrill Edge is considered safe because the parent company has a long track record and a good reputation, has a banking background, discloses its financials, and is regulated by top-tier regulators.
Recommended for investors and traders who looking for low fees, quick account opening, and simple platforms
| Pros | Cons |
|---|---|
| • Low trading fees | • Limited to US clients and products |
| • Easy and seamless account opening | • No demo trading |
| • Strong parent company | • Limited options to deposit/withdraw from accounts |
Fees
Merrill Edge has low trading fees and low non-trading fees, including commission-free stock and ETF trades. On the other hand, financing/margin rates are quite high.
| Pros | Cons |
|---|---|
| • Low trading fees | • High financing rate |
| • Low non-trading fees | |
| • Low stock and ETF fees |
| Merrill Edge | TD Ameritrade | Charles Schwab | Vanguard | Chase You Invest | |
|---|---|---|---|---|---|
| US stock | $0.0 | $0.0 | $0.0 | $7.0 | $3.0 |
| UK stock | - | - | - | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k
Account opening
Account opening at Merrill Edge is seamless and fully digital, it took us less than one day to have an open account, however, only US clients are accepted.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| Merrill Edge | TD Ameritrade | Charles Schwab | Vanguard | Chase You Invest | |
|---|---|---|---|---|---|
| Minimum deposit | $0 | $0 | $0 | $0 | $0 |
| Time to open account | 1 day | 1-3 days | 1 day | 1-3 days | 1 day |
Learn more about Merrill Edge minimum deposit here.
Deposit and withdrawal
Merrill Edge has an easy-to-use deposit and withdrawal system with a bank account connection. Unfortunately, credit/debit cards cannot be used to fund the account, and there is only USD as a base currency.
| Pros | Cons |
|---|---|
| • Free withdrawal | • Credit/Debit card not available |
| • No deposit fee | • Only one account base currency |
| • User-friendly | • Slow withdrawal - over 3 days |
| Merrill Edge | TD Ameritrade | Charles Schwab | Vanguard | Chase You Invest | |
|---|---|---|---|---|---|
| Bank Transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/Debit card | No | No | No | No | No |
| Electronic wallets | No | No | No | No | No |
| Withdrawal fee | $0 | $0 | $0 | $0 | $0 |
Web trading platform
Merrill Edge has a user-friendly and simple trading platform, with options for secure login and for setting price alerts. However, it offers only limited customizability and the search function is not so advanced.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Two-step (safer) login |
| Merrill Edge | TD Ameritrade | Charles Schwab | Vanguard | Chase You Invest | |
|---|---|---|---|---|---|
| Web platform score | 4.3 stars | 4.3 stars | 4.2 stars | 3.4 stars | 2.9 stars |
| Mobile platform score | 4.8 stars | 4.8 stars | 4.2 stars | 4.4 stars | 3.9 stars |
| Desktop platform score | - | 4.5 stars | 4.0 stars | - | - |
Learn more about Merrill Edge's web trading platform in the detailed Merrill Edge review.
Markets and products
Merrill Edge has a limited product portfolio offering stocks, ETFs, mutual funds, and bonds. Unfortunately, the product portfolio covers only the US market. It offers a lower diversity of products in general compared to its competition.
| Merrill Edge | TD Ameritrade | Charles Schwab | Vanguard | Chase You Invest | |
|---|---|---|---|---|---|
| Stock | Yes | Yes | Yes | Yes | Yes |
| ETF | Yes | Yes | Yes | Yes | Yes |
| Forex | No | Yes | No | No | No |
| Fund | Yes | Yes | Yes | Yes | Yes |
| Bond | Yes | Yes | Yes | Yes | Yes |
| Options | Yes | Yes | Yes | Yes | No |
| Futures | No | Yes | Yes | No | No |
| CFD | No | No | No | No | No |
| Crypto | No | No | No | No | No |
Verdict
Overall, Merrill Edge is a solid, easy to use the trading platform created by Bank of America, one of the US's largest banks.
We rated Merrill Edge highly due to its low fees, easy process of account-opening, and safety.
Some of the drawbacks include limited product offerings, research capabilities, and deposited/withdrawal options.
As the trading and non-trading fees are generally low, research tools are great and the account opening is seamless, feel free to try it.
| Merrill Edge | |
|---|---|
| Summary | Merrill Edge is a US based broker owned by Bank of America (BofA). It is regulated by the top-tier SEC and Finra and BofA is listed on the NYSE. |
| Fees score | 4.4 stars |
| Recommended for | Investors and traders who looking for low fees, quick account opening, and simple platforms |
Merrill Edge alternatives
TD Ameritrade
TD Ameritrade was founded in 1978 and it is one of the biggest US-based stockbrokers. It is regulated by top-tier regulators like the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading Commission (CFTC).
TD Ameritrade is considered a safe broker since it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials, and is regulated by top-tier regulators.
Recommended for investors and traders looking for solid research and a well-equipped desktop trading platform
| Pros | Cons |
|---|---|
| • Low trading fees (free stock and ETF trading) | • You can trade only in the US markets |
| • Superb desktop trading platform | • Slow and not fully digital account opening |
| • Great customer support | • No credit/debit cards and electronic wallets for money transfer |
Fees
TD Ameritrade provides free stock and ETF trading. The forex, bond, and options fees are low as well. On the other hand, they charge high fees for mutual funds.
| Pros | Cons |
|---|---|
| • Low trading fees | • High fund fees |
| • Low non-trading fees | |
| • Free stocks and ETFs |
| TD Ameritrade | Merrill Edge | |
|---|---|---|
| Apple benchmark fee | $0.2 | $0.2 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | $13.4 | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
As a new client, you can change from many different account types at TD Ameritrade and as US citizen you will face no minimum deposit. Unfortunately, the process is not fully digital.
| Pros | Cons |
|---|---|
| • No minimum deposit | • Not fully digital |
| • Many account types |
| TD Ameritrade | Merrill Edge | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1 day |
If you are interested more in TD Ameritrade minimum deposit, this overview will help you.
Deposit and withdrawal
TD Ameritrade has user-friendly account funding and charges no deposit fees, but are several drawbacks as well. You can use only bank transfer and a high fee is charged for wire transfer withdrawals.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • User-friendly | • High withdrawal fee for wire transfers |
| TD Ameritrade | Merrill Edge | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
TD Ameritrade offers a good web-based trading platform with a clean design. On the flip side, there is no two-step login and the platform is not customizable.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | • Limited customizability (for charts, workspace) |
| • Good variety of order types |
| TD Ameritrade | Merrill Edge | |
|---|---|---|
| Web platform score | 4.3 stars | 4.3 stars |
| Mobile platform score | 4.8 stars | 4.8 stars |
| Desktop platform score | 4.5 stars | - |
Learn more about TD Ameritrade's web trading platform in the detailed TD Ameritrade review.
Markets and products
At TD Ameritrade you can trade with a lot of asset classes, from stocks to futures and forex. We also liked the additional features like social trading and the robo-advisory service. On the other hand, the offered products cover only the U.S. market.
| TD Ameritrade | Merrill Edge | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | Yes | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFD | No | No |
| Crypto | No | No |
Verdict
TD Ameritrade is one of the biggest US online brokers. Reflecting the wave of introducing commission-free trading at the end of 2019, TD Ameritrade now charges no commission of stock and ETF trades.
Research and education are outstanding and covers a lot of tools. The Thinkorswim desktop trading platform is one of the best on the market. The customer service is great, you will get relevant answers within a short time.
It has some drawbacks though. It charges high financing (margin) rates and it doesn't provide credit/debit cards and electronic wallets for money transfers. Furthermore, the product portfolio covers products only from U.S. markets.
As there are great education tools including a demo account, feel free to try it.
| TD Ameritrade | |
|---|---|
| Summary | TD Ameritrade is a US stockbroker, regulated by top-tier authorities the SEC and FINRA. The company is listed on NASDAQ and has a banking background as part of the TD Group. |
| Fees score | 4.3 stars |
| Recommended for | Investors and traders looking for solid research and a well-equipped desktop trading platform |
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Merrill Edge alternatives
Charles Schwab
Charles Schwab was founded in 1971 and it is a US discount broker listed on the New York Stock Exchange.
It is regulated by several top-tier financial authorities, such as the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and the Financial Conduct Authority (FCA).
Recommended for investors and traders looking for solid research, low fees and great customer service
| Pros | Cons |
|---|---|
| • Free stock and ETF trading | • High fees for some mutual funds |
| • Outstanding research | • Product selection covers only the US market |
| • Great customer service | • Not well-structured educational platform |
Fees
Charles Schwab offers free stock and ETF trading, while some mutual funds and bonds are also free. Non-trading fees are also low. On the negative side, the fees for some mutual funds are quite high.
| Pros | Cons |
|---|---|
| • Low non-trading fees | • High fees for non-free mutual funds |
| • Free stock and ETF trading | |
| • Some mutual funds and bonds are free |
| Charles Schwab | Merrill Edge | |
|---|---|---|
| Apple benchmark fee | $0.2 | $0.2 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Opening an account at Charles Schwab is easy, fast and fully digital. For US-clients there is no minimum deposit. If you open an account outside the US, there is a $25,000 minimum deposit.
| Pros | Cons |
|---|---|
| • Fast | • For non-US clients $25,000 minimum deposit |
| • Fully digital | |
| • No minimum deposit |
| Charles Schwab | Merrill Edge | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1 day |
If you are interested more in Charles Schwab minimum deposit, this overview will help you.
Deposit and withdrawal
Transferring money is easy and user-friendly at Charles Schwab and there is no deposit fee. On the flip side, you can only use bank transfer and a high fee is charged for wire transfer withdrawals.
| Pros | Cons |
|---|---|
| • No deposit fee | • High fee for wire (bank transfer) withdrawals |
| • User-friendly |
| Charles Schwab | Merrill Edge | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Charles Schwab offers a good web-based trading platform with a clean design. On the flip side, the platform is not customizable.
| Pros | Cons |
|---|---|
| • User-friendly | • Limited customizability (for charts, workspace) |
| • Clear fee report | |
| • Price alerts |
| Charles Schwab | Merrill Edge | |
|---|---|---|
| Web platform score | 4.2 stars | 4.3 stars |
| Mobile platform score | 4.2 stars | 4.8 stars |
| Desktop platform score | 4.0 stars | - |
Learn more about Charles Schwab's web trading platform in the detailed Charles Schwab review.
Markets and products
At Charles Schwab, you can trade with a lot of asset classes, from stocks to futures. Unfortunately, the product portfolio covers only US exchanges.
| Charles Schwab | Merrill Edge | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | Yes | No |
| CFD | No | No |
| Crypto | No | No |
Verdict
Charles Schwab is one of the biggest discount US brokers regulated by top-tier regulators.
Reflecting the wave of introducing commission-free trading at the end of 2019, Charles Schwab charges no commission for stock and ETF trades. Its research is outstanding and covers many tools, including trading ideas and detailed fundamental data. The customer service is great, you will get relevant answers within a short time.
It has some drawbacks though. It charges high fees for some mutual funds and the product portfolio covers only US markets. Lastly, the educational platform is not well-structured.
As the trading and non-trading fees are generally low, research tools are great and the account opening is seamless, feel free to try it.
| Charles Schwab | |
|---|---|
| Summary | Charles Schwab is a US discount broker, regulated by top-tier US authorities the SEC and FINRA. The company is listed on the New York Stock Exchange and holds a banking license. |
| Fees score | 4.4 stars |
| Recommended for | Investors and traders looking for solid research, low fees and great customer service |
Merrill Edge alternatives
Vanguard
Vanguard is a US stockbroker founded in 1975. The company is regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA).
Vanguard is considered safe because it has a long track record and is regulated by top-tier regulators.
Recommended for long-term investors who are looking for great etf and mutual fund offers
| Pros | Cons |
|---|---|
| • Some ETFs and mutual funds are free to trade | • Only US market covered |
| • Easy account opening | • Basic research tools |
| • Great mobile trading platform | • High financing rates (margin rates) |
Fees
Vanguard offers free ETF trading, besides some mutual funds and bonds are free too. The non-trading fees are low, no inactivity fee is charged and withdrawal is also free if you use ACH transfer. On the negative side, the fees for non-free mutual funds are high and financing rates are also high, especially in the lower volume tiers.
| Pros | Cons |
|---|---|
| • No inactivity fee | • High margin rates |
| • Free ETF trading | • High fees for non-free mutual funds |
| • Some mutual funds and bonds are free to trade with |
| Vanguard | Merrill Edge | |
|---|---|---|
| Apple benchmark fee | $14.2 | $0.2 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
The account opening is fully digital and user-friendly. There is also no minimum account balance. However, the account opening and verification takes a bit longer, 2-3 business days.
| Pros | Cons |
|---|---|
| • Fully digital | • Slow account opening time |
| • No minimum deposit | |
| • Low minimum deposit |
| Vanguard | Merrill Edge | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1-3 days | 1 day |
If you are interested more in Vanguard minimum deposit, this overview will help you.
Deposit and withdrawal
It's great that Vanguard charges no deposit fee and transferring money is easy and user-friendly. The deposit and withdrawal could be improved though. You can use only bank transfer, and a fee is charged for wire transfer withdrawals.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • User-friendly | • $10 for wire transfer withdrawals |
| • Free withdrawal (via ACH) |
| Vanguard | Merrill Edge | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Vanguard has an average web trading platform. It offers two-step login and there is a clear fee report. The trading platform's structure is a bit confusing and some features are hard to find. Search functions could be better too and we missed customizability.
| Pros | Cons |
|---|---|
| • Clear fee report | • Limited customizability (for charts, workspace) |
| • Two-step (safer) login | • Some features are hard to find |
| • Price alerts |
| Vanguard | Merrill Edge | |
|---|---|---|
| Web platform score | 3.4 stars | 4.3 stars |
| Mobile platform score | 4.4 stars | 4.8 stars |
| Desktop platform score | - | - |
Learn more about Vanguard's web trading platform in the detailed Vanguard review.
Markets and products
Vanguard gives access to different asset classes, from stocks to options. However, the offered products cover only the US market and you can't trade with forex and futures.
| Vanguard | Merrill Edge | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | Yes | Yes |
| Futures | No | No |
| CFD | No | No |
| Crypto | No | No |
Verdict
Vanguard is one of the biggest US stockbrokers regulated by top-tier regulators.
Vanguard offers free ETF and mutual fund trading for some products, such as its own ETFs. It doesn't charge inactivity and account fees and the account opening is easy and fully digital. The mobile trading platform is user-friendly and has a great design.
It has some drawbacks though. The product portfolio covers only the US market and the research tools are very basic. Financing rates are also high when you trade on margin.
As there are low non-trading fees and no inactivity fee is charged, feel free to try Vanguard.
| Vanguard | |
|---|---|
| Summary | Vanguard is a US stockbroker regulated by the top-tier SEC and FINRA. |
| Fees score | 3.6 stars |
| Recommended for | Long-term investors who are looking for great ETF and mutual fund offers |
Merrill Edge alternatives
Chase You Invest
Chase You Invest is a US-based discount broker released in 2018 by J.P. Morgan. The parent company, J.P. Morgan founded in 1985, is a US investment bank and is also listed on the New York Stock Exchange. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Chase You Invest is considered safe because the parent company has a long track record, is listed on the stock exchange, has a banking background, discloses its financials regularly and is regulated by top-tier regulators.
Recommended for beginners and buy-and-hold investors focusing on the us stock market
| Pros | Cons |
|---|---|
| • Low trading fees | • Available only for US clients |
| • Fast and fully digital account opening | • Limited product portfolio |
| • Strong parent company | • Basic research tools |
Fees
Chase You Invest has low trading fees and low non-trading fees and you can also trade with mutual funds for free.
| Pros | Cons |
|---|---|
| • Low trading fees | None |
| • Low non-trading fees | |
| • Low stock and ETF fees |
| Chase You Invest | Merrill Edge | |
|---|---|---|
| Apple benchmark fee | $6.1 | $0.2 |
| Vodafone benchmark fee | - | - |
| EURUSD benchmark fee | - | - |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Account opening at Chase You Invest is seamless and fully digital, it took us one day to have an open account but only US clients are accepted.
| Pros | Cons |
|---|---|
| • Fast | • Only for US clients |
| • Fully digital | |
| • No minimum deposit |
| Chase You Invest | Merrill Edge | |
|---|---|---|
| Minimum deposit | $0 | $0 |
| Time to open account | 1 day | 1 day |
If you are interested more in Chase You Invest minimum deposit, this overview will help you.
Deposit and withdrawal
At Chase You Invest there is no deposit fee and transferring money is easy and user-friendly, but withdrawal can be improved. You can use only bank transfer and there is a high fee for wire withdrawals if you are a non-Chase client.
| Pros | Cons |
|---|---|
| • No deposit fee | • Credit/Debit card not available |
| • Quick deposit and withdrawal - within 3 days | • Only one account base currency |
| • High wire withdrawal fee for non-Chase clients |
| Chase You Invest | Merrill Edge | |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit/Debit card | No | No |
| Electronic wallets | No | No |
| Withdrawal fee | $0 | $0 |
Web trading platform
Chase You Invest web trading platform is very easy-to-use and has a great search function. On the flip side two-step authentication, clear fee report and price alerts are missing.
| Pros | Cons |
|---|---|
| • User-friendly | • No clear fee report available |
| • Good search function | • No two-step (safer) login |
| • Order confirmation | • Limited customizability (for charts, workspace) |
| Chase You Invest | Merrill Edge | |
|---|---|---|
| Web platform score | 2.9 stars | 4.3 stars |
| Mobile platform score | 3.9 stars | 4.8 stars |
| Desktop platform score | - | - |
Learn more about Chase You Invest's web trading platform in the detailed Chase You Invest review.
Markets and products
Chase You Invest has a limited product portfolio offering stocks, ETFs, funds and bonds. Unfortunately, the product portfolio covers only asset classes from the US market.
| Chase You Invest | Merrill Edge | |
|---|---|---|
| Stock | Yes | Yes |
| ETF | Yes | Yes |
| Forex | No | No |
| Fund | Yes | Yes |
| Bond | Yes | Yes |
| Options | No | Yes |
| Futures | No | No |
| CFD | No | No |
| Crypto | No | No |
Verdict
Chase You Invest fees are great. You can trade with mutual funds for free and as a new client you have 100 commission-free trades for US-based stock and ETF in the first year. The account opening is easy, fully digital, and fast. J.P. Morgan is Chase You Invest's strong parent company. It has a banking background and listed on the New York Stock Exchange.
Chase You Invest has some drawbacks though. It is available only for US clients. The product portfolio is limited, covering only US markets and the stock, ETF, bond, and fund asset classes. Lastly, the research tools are basic.
Speaking of account opening, the process is seamless, and Chase You Invest offers commission-free mutual funds and 100 commission-free stock and ETF trades, feel free to try it.
| Chase You Invest | |
|---|---|
| Summary | Chase You Invest is a brokerage solution offered by J.P. Morgan Securities LLC (a J.P. Morgan affiliate), regulated by top-tier US authorities the SEC and FINRA. J.P. Morgan is a NYSE-listed company with a banking background. |
| Fees score | 4.7 stars |
| Recommended for | Beginners and buy-and-hold investors focusing on the US stock market |
Merrill Edge alternatives
Bottom line
Based on our analysis, there are several good alternatives to Merrill Edge. They all offer similar products and target similar customers. Here's a recap of the results in a table.
| Broker | Info | Recommended for |
|---|---|---|
| Merrill Edge | US discount broker | Investors and traders who looking for low fees, quick account opening, and simple platforms |
| TD Ameritrade | US-based stockbroker | Investors and traders looking for solid research and a well-equipped desktop trading platform |
| Charles Schwab | US discount broker | Investors and traders looking for solid research, low fees and great customer service |
| Vanguard | US stockbroker | Long-term investors who are looking for great ETF and mutual fund offers |
| Chase You Invest | US-based discount broker | Beginners and buy-and-hold investors focusing on the US stock market |
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