Compare Ally Invest vs Merrill Edge


Online brokers compared for fees, trading platforms, safety and more. See how Ally Invest stacks up against Merrill Edge!

Ally Invest vs Merrill Edge
overall rating
4.7
4.8
overall pros
  • Low trading and non-trading fees
  • Easy and fully digital account opening
  • Great education
  • Low trading fees
  • Easy and seamless account opening
  • Strong parent company
overall cons
  • You can trade only on US markets
  • Forex trading is available through a separate account
  • Lack of proper 2-step authentication
  • Limited to US clients and products
  • No demo account
  • Limited options to deposit/withdraw
fees
4.5
  • Low trading fees
  • Low non-trading fees
  • Zero commission on most stocks and ETFs
  • Margin rates could be lower
4.4
  • Low trading fees
  • Low non-trading fees
  • Low stock and ETF fees
  • High financing rate
account opening
4.4
  • Fully digital
  • Low minimum deposit
  • Slow account verification
5.0
  • Fast
  • Fully digital
  • No minimum deposit
  • Only US clients are accepted
deposit and withdrawal
2.6
  • No deposit fee
  • User-friendly
  • Free ACH withdrawal
  • Credit/Debit card not available
  • High outgoing wire transfer fee
2.2
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Only one account base currency
  • Slow withdrawal - over 3 days
web trading platform
3.5
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
  • No clear fee report available
  • No two-step (safer) login
4.3
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • Limited customizability (for charts, workspace)
mobile trading platform
3.3
  • User-friendly
  • Good search function
  • Good variety of order types
  • No two-step (safer) login
  • No price alerts
  • Mutual funds and bonds are not covered
4.8
  • User-friendly
  • Two-step (safer) login
  • Touch/Face ID login
  • Poor search function
desktop trading platform
markets and products
2.9
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
2.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
research
3.8
  • Good interactive chart
  • Trading ideas
  • Good option strategy analyzer
  • Screener only for ETFs
4.0
  • Trading ideas
  • Data on asset fundamentals
  • Quality news flow
  • Limited interactive charting
  • No/limited set of analytic tools
customer service
3.5
  • Phone support
  • Live chat
  • 24/7 availability
  • Average speed of customer support
4.5
  • Phone support
  • Live chat
  • No email support
education
4.3
  • Trading platform tutorial
  • Educational videos
  • No demo account
3.5
  • Trading platform tutorial
  • Educational videos
  • No demo account
  • High level of investor protection
  • Banking background
  • Regulated by top-tier financial authorities in the US
  • No negative balance protection
  • No investor protection for forex
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Banking background
  • No negative balance protection
recommended for Investors and traders looking for low fees and focusing on the US market Investors and traders who looking for low fees, quick account opening, and simple platforms
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