Ally Invest
Merrill Edge
*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.
Basic data of broker
Recommended for Investors and traders looking for low fees and focusing on the US market
Recommended for Investors and traders looking for low fees, quick account opening and simple platforms
USA
USA
Fees
Low trading and non-trading fees, high margin rates
Low trading and non-trading fees, high fund fees
Stock and ETF fees
Forex fees
Fund fees
Bond fees
Options fees
Futures fees
Crypto fees
CFD fees
Non-trading fees
Deposit and withdrawal
1
1
Deposit type
Withdrawal type
Account opening
$0
$0
1-3 days
1 day
Proof of identity: SSN / passport / national ID card / driver's license
None for those with an IP address in the US; for those that don't--2 utility bills, drivers license, passport
Trading platform
Markets and products
Research, education
Great
Mid-range
Customer service
Security
$500,000 (securities up to $500,000, cash up to $250,000). Additional insurance through Lloyd's of London for $37.5 million, including cash of up to $900,000.
$500,000 (securities up to $500,000, cash up to $250,000)
1919
2010
USA
USA
For detailed information and hands-on experience, read our review of this broker.
For detailed information and hands-on experience, read our review of this broker.
*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.
Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.
Ally Invest's service is on par with Merrill Edge's and a comparison of their fees shows that Ally Invest's fees are similar to Merrill Edge's.
Account opening takes somewhat more effort at Ally Invest compared to Merrill Edge, deposit and withdrawal processes are about the same quality at Ally Invest, while customer service quality is similar to Merrill Edge's.
Our experts rated the trading platform of Ally Invest as less user-friendly than the platform of Merrill Edge, found that clients have access to about the same number of markets and products with Ally Invest, while Merrill Edge provides somewhat lower-quality research and education.
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