Merrill Edge vs Ally Invest 2025
In this head to head comparison of Merrill Edge vs Ally Invest, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
In this head to head comparison of Merrill Edge vs Ally Invest, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
The comparison between Merrill Edge and Ally Invest shows that both online brokers provide a wide range of investment options, making them attractive choices for various investors. Both platforms are commendably rated at 4.5 stars for their range of investments, highlighting their comprehensive selection. When ranked in comparison to 14 other brokers, Merrill Edge holds a slight edge at 7th place, just one spot ahead of Ally Invest at 8th, indicating a marginal distinction in their offerings.
Both Merrill Edge and Ally Invest cater to investors interested in traditional and Roth IRA accounts, offering similar foundational investment opportunities. They both provide stock and options trading alongside margin and OTC stock trading. Additionally, they offer mutual funds for those looking to diversify their portfolios further. However, neither platform provides fractional shares, forex, futures, or cryptocurrency trading, which may limit the choices for investors seeking a broader array of asset classes.
Besides the standard trading facilities, Merrill Edge and Ally Invest both extend advisor services to their clients, assisting those who might require professional guidance in managing their investment accounts. By providing these services, each platform ensures customers can make informed decisions tailored to their financial goals. While they share many similarities in account features, the advanced ranking of Merrill Edge might offer a slight advantage for serious investors looking for a reputable broker among the top contenders.
Feature |
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Stock Trading | Yes | Yes |
Account Feature - Margin Trading | Yes | Yes |
Fractional Shares (Stocks) | No | No |
OTC Stocks | Yes | Yes |
Mutual Funds | Yes | Yes |
Options Trading | Yes | Yes |
Futures Trading | No | No |
Crypto Trading | No | No |
Crypto Trading - Total Coins | 0 | 0 |
Range of Investments |
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Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025: A Beginner-Friendly Guide to an Advanced Market
When comparing the trading platforms and tools of Merrill Edge and Ally Invest, Merrill Edge emerges as the more highly rated option. With a four-star rating, Merrill Edge is noted for its comprehensive features and is ranked 6th out of 14 brokers by StockBrokers.com. Ally Invest, although a solid competitor with a three-star rating, ranks 10th in the same lineup. For users seeking a feature-rich experience in trading platforms, Merrill Edge may be the more appealing choice.
Both Merrill Edge and Ally Invest provide browser-based trading platforms, excluding any downloadable desktop applications for Windows or Mac. Neither platform currently supports paper trading or offers a trading journal, which might be a consideration for investors seeking these tools for practice and tracking. While Ally Invest offers 120 technical indicators and 36 drawing tools, Merrill Edge provides 105 indicators and 23 drawing tools. However, Merrill Edge compensates with the ability to adjust open orders directly on stock charts and display historical trades, corporate events, and custom date ranges, features Ally Invest lacks.
For both platforms, custom studies aren't supported. Users can indeed add notes, display automated technical analysis, and save multiple chart profiles. Watch list customization varies significantly, with Merrill Edge offering up to 285 fields against Ally Invest's 10, making it a more versatile choice for detailed tracking. Lastly, both platforms provide eight customization fields for editing SMA studies, offering the same level of configurability in this aspect.
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Web Trading Platform | Yes | Yes |
Desktop Trading Platform | No | No |
Desktop Platform (Mac) | No | No |
Paper Trading | No | No |
Watch Lists - Total Fields | 285 | 10 |
Charting - Indicators / Studies | 105 | 120 |
Charting - Drawing Tools | 23 | 36 |
Platforms & Tools |
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Dive deeper: Best Online Brokers & Trading Platforms for 2025, Best Paper Trading Apps & Platforms for 2025
When comparing Merrill Edge and Ally Invest for their investment education capabilities aimed at beginners, both online brokers shine in offering a solid foundation. Merrill Edge provides comprehensive educational resources, covering stocks, ETFs, options, mutual funds, and bonds. It stands out with its educational videos and quizzes, ensuring a more interactive learning experience. However, it does not offer paper trading or webinars. Ally Invest offers similar educational content without the added benefit of video lessons or quizzes, but like Merrill Edge, it also lacks paper trading and webinars. Neither platform offers features to track learning progress.
In terms of overall ratings, Merrill Edge is awarded 4.5 stars for its educational offerings, slightly edging out Ally Invest which sits at 4 stars. StockBrokers.com ranks Merrill Edge as #5 and Ally Invest at #7 out of 14 brokers for education, showcasing Merrill Edge's slight lead in providing effective educational resources for new investors. Whether you're just starting or looking to expand your knowledge, Merrill Edge may offer a slightly more engaging educational experience due to its use of videos and quizzes, though both brokers deliver strong foundational content.
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Education (Stocks) | Yes | Yes |
Education (ETFs) | Yes | Yes |
Education (Options) | Yes | Yes |
Education (Mutual Funds) | Yes | Yes |
Education (Fixed Income) | Yes | Yes |
Paper Trading | No | No |
Videos | Yes | No |
Webinars | No | No |
Education |
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Dive deeper: Best Stock Trading Platforms for Beginners of 2025
When deciding between Merrill Edge and Ally Invest for stock trading apps, Merrill Edge seems to have the upper hand with a 4.5-star rating compared to Ally Invest’s 4-star rating. Ranked #6 out of 14 brokers by StockBrokers.com, Merrill Edge outpaces Ally Invest’s position at #13. While both brokers offer iPhone and Android apps, Merrill Edge distinguishes itself with features like mobile after-hours stock and options trading, custom stock alerts, and comprehensive charting capabilities, including viewing multiple time frames and displaying stock comparisons.
Both Merrill Edge and Ally Invest have ensured that their apps are available on major platforms, providing iPhone and Android compatibility, although neither offers an Apple Watch app. For users keen on technical analysis, Merrill Edge stands out with 34 technical studies available for charting within its app, whereas Ally Invest provides none. Both apps allow users to create custom watch lists, although customization of watch list columns and after-hours charting are not supported by either.
Feature-wise, Merrill Edge offers additional functionality, such as viewing charts in landscape mode, which is not available with Ally Invest. For streaming quotes, both platforms deliver solid experiences. However, no streaming live TV or videos on demand are offered by either broker, which might be a consideration for users looking for integrated educational content. In conclusion, while both apps serve their purpose well, Merrill Edge's additional features and higher ranking make it a more attractive choice for serious traders looking for a comprehensive mobile trading experience.
Feature |
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iPhone App | Yes | Yes |
Android App | Yes | Yes |
Apple Watch App | No | No |
Stock Alerts | Yes | No |
Charting - After-Hours | No | No |
Charting - Technical Studies | 34 | 0 |
Mobile Trading Apps |
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Dive deeper: Best Stock Trading Apps for 2025
When weighing the options between Merrill Edge and Ally Invest for their fee structures, it's important to recognize the areas where each shines. Both brokers boast a $0 minimum deposit and offer commission-free regular stock trades, making them accessible to all types of investors. However, they diverge when it comes to options trading, where Merrill Edge charges $0.65 per contract and Ally Invest is slightly cheaper at $0.50 per contract. Margin rates present a clearer distinction: Ally Invest has defined rates ranging from 11% to 12% depending on the balance size, while Merrill Edge's rates vary based on broader criteria.
Diving deeper into additional charges, both platforms excel with no annual fees for IRAs, providing a low-cost option for retirement savers. If you're thinking about transferring accounts, Merrill Edge has the upper hand with no fees for full or partial transfers, compared to Ally Invest, which has $50 fees for both. However, Ally Invest offers a more affordable IRA closure fee at $25 compared to Merrill Edge's $49.95.
Lastly, in the realm of options trading, both Merrill Edge and Ally Invest ensure no costs when it comes to options exercise and assignment fees. This could offset some of the expenses tied to per-contract charges. Evaluating these details, investors can make an informed choice based on their trading preferences and which fees they prioritize in their financial strategy.
Feature |
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Minimum Deposit | $0.00 | $0.00 |
Stock Trades | $0.00 | $0.00 |
Options (Per Contract) | $0.65 | $0.50 |
Options Exercise Fee | $0.00 | $0.00 |
Options Assignment Fee | $0.00 | $0.00 |
IRA Annual Fee | $0.00 | $0.00 |
IRA Closure Fee | $49.95 | $25.00 |
Dive deeper: Best Free Trading Platforms for 2025
When comparing Merrill Edge and Ally Invest for day trading, unique features and tools play a significant role. Merrill Edge stands out by offering streaming time and sales for stocks, a crucial feature for day traders seeking real-time market data. While both platforms lack streaming live TV, direct market routing, ladder trading, and trading hotkeys, Merrill Edge further distinguishes itself with the provision of level 2 quotes and basic strategy backtesting capabilities. These tools can be valuable for traders looking to refine their trading strategies and gain deeper market insights.
In contrast, Ally Invest does not provide streaming time and sales or level 2 quotes, which might limit its appeal to day traders who rely on real-time data and comprehensive market depth analysis. Both brokers do not offer advanced strategy backtesting, short locator tools, or order liquidity rebates, indicating a similar level of service in these aspects. Overall, Merrill Edge may offer a slight advantage for day traders given its offering of essential features like level 2 quotes and basic strategy backtesting, which are not available with Ally Invest.
Feature |
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Streaming Time & Sales | Yes | No |
Streaming TV | No | No |
Direct Market Routing - Equities | No | No |
Level 2 Quotes - Stocks | Yes | No |
Trade Ideas - Backtesting | Yes | No |
Trade Ideas - Backtesting Adv | No | No |
Short Locator | No | No |
Dive deeper: Best Day Trading Platforms of 2025 for Beginners and Active Traders
When comparing the market research capabilities of Merrill Edge and Ally Invest, Merrill Edge emerges as a more comprehensive option. It provides detailed research across a diverse range of assets including stocks, ETFs, mutual funds, and bonds. Merrill Edge offers downloadable PDF research reports for stocks, ETFs, and mutual funds, making it easier for investors to make informed decisions. Although Ally Invest shines with tools like social media sentiment data for stock research, Merrill Edge offers a broader spectrum of research features including ESG research and the ability to see portfolio allocation by asset class. Rated 5 stars for market research by StockBrokers.com, Merrill Edge clinches the #5 spot among 14 brokers, while Ally Invest, with a rating of 3.5 stars, is ranked #8.
Both Merrill Edge and Ally Invest provide stock and ETF screeners to help traders discover new investment opportunities, with Merrill Edge going a step further in offering a mutual fund screener and a bond screener as well. For investors focused on pink sheets, OTCBB stocks, and bonds, both brokers deliver research options to facilitate trade decisions. However, where Ally Invest falls short is in offering downloadable reports; it does not provide any, unlike Merrill Edge, which supplies up to three downloadable PDFs for stocks alone.
While ESG research offered by Merrill Edge might appeal to investors keen on environmental and social governance criteria, Ally Invest compensates with its use of innovative social media sentiment data to guide stock research. Despite these differences, both brokers provide valuable tools for discovering trade ideas. Yet, for those seeking comprehensive market insights with an added level of depth in research, Merrill Edge stands out as the more formidable choice in market research capabilities.
Feature |
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Research - Stocks | Yes | Yes |
Screener - Stocks | Yes | Yes |
Research - ETFs | Yes | Yes |
Screener - ETFs | Yes | Yes |
Research - Mutual Funds | Yes | Yes |
Screener - Mutual Funds | Yes | No |
Research - Fixed Income | Yes | Yes |
Screener - Fixed Income | Yes | Yes |
Research |
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When it comes to banking capabilities, both Merrill Edge and Ally Invest provide a comprehensive suite of options that cater to everyday financial needs. If you're looking for checking accounts, both Merrill Edge and Ally Invest have you covered. Savings accounts are also available with both brokers, offering a secure place to stash your funds. You won't miss out on debit card services, as both Merrill Edge and Ally Invest provide them. When it comes to credit cards, each broker delivers options for expanding your purchasing power. Mortgage loans are on the menu for both, making them viable choices for home buyers. Additionally, if Certificates of Deposit (CDs) are part of your investment strategy, Merrill Edge and Ally Invest offer these savings vehicles to help grow your money over time. Whether you're looking for basic banking services or more specialized financial products, Merrill Edge and Ally Invest both bring plenty to the table.
Feature |
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Checking Accounts | Yes | Yes |
Savings Accounts | Yes | Yes |
Debit Cards | Yes | Yes |
Credit Cards | Yes | Yes |
Mortgage Loans | Yes | Yes |
Brokerage CDs | Yes | Yes |
Dive deeper: Best Brokerage Checking Accounts for 2025
After opening live accounts and testing 14 of the best online brokers, our research and live account testing finds that Merrill Edge is better than Ally Invest. Merrill Edge finished with an overall score of 92.7%, while Ally Invest finished with a score of 80.1%.
Merrill Edge and its parent, Bank of America, make for a well-rounded offering, with $0 trades, robust research, reliable customer service; and its Stock Stories and Fund Stories are an industry standout. There are some gaps in investment offerings, including crypto and futures.
Merrill Edge and Ally Invest both do not offer cryptocurrency trading, providing zero coin options for crypto trading enthusiasts looking to invest through these online brokers.
Dive deeper: Best Online Brokers for Crypto Trading in 2025
Both Merrill Edge and Ally Invest offer traditional and Roth IRA accounts with no annual fees, but Merrill Edge charges a closure fee of $49.95 compared to Ally Invest's $25.00 fee when closing IRA accounts.
Dive deeper: Best IRA Accounts for 2025
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0 of 5Overall Rating | Merrill Edge | Ally Invest | |
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Mobile Trading Apps |
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Research |
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Customer Service |
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Education |
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Ease of Use |
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Winner | check_circle | ||
Review | Merrill Edge Review | Ally Invest Review |
Broker Screenshots | Merrill Edge | Ally Invest | |
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Broker Gallery (click to expand) |
Trading Fees | Merrill Edge | Ally Invest | |
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Minimum Deposit | $0.00 | $0.00 | |
Stock Trades | $0.00 | $0.00 | |
Penny Stock Fees (OTC) | N/A | $4.95 | |
Mutual Fund Trade Fee | Varies | $0.00 | |
Options (Per Contract) | $0.65 | $0.50 | |
Futures (Per Contract) | (Not offered) | (Not offered) | |
Broker Assisted Trade Fee | $29.95 | $20 |
Margin Rates | Merrill Edge | Ally Invest | |
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Margin Rate Under $25,000 | Varies | 12% | |
Margin Rate $25,000 to $49,999.99 | Varies | 11.75% | |
Margin Rate $50,000 to $99,999.99 | Varies | 11% | |
Margin Rate $100,000 to $249,999.99 | Varies | 9.75% | |
Margin Rate $250,000 to $499,999.99 | Varies | 8.75% | |
Margin Rate $500,000 to $999,999.99 | Varies | 8.25% | |
Margin Rate Above $1,000,000 | Varies | 7.5% |
Account Fees | Merrill Edge | Ally Invest | |
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IRA Annual Fee | $0.00 | $0.00 | |
IRA Closure Fee | $49.95 | $25.00 | |
Account Transfer Out (Partial) | $0.00 | $50.00 | |
Account Transfer Out (Full) | $0.00 | $50.00 | |
Options Exercise Fee | $0.00 | $0.00 | |
Options Assignment Fee | $0.00 | $0.00 |
Investment Options | Merrill Edge | Ally Invest | |
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Stock Trading | Yes | Yes | |
Account Feature - Margin Trading | Yes | Yes | |
Fractional Shares (Stocks) | No | No | |
OTC Stocks | Yes | Yes | |
Options Trading | Yes | Yes | |
Complex Options Max Legs | 4 | 4 | |
Futures Trading | No | No | |
Forex Trading | No | No | |
Crypto Trading | No | No | |
Crypto Trading - Total Coins | 0 | 0 | |
Fixed Income (Treasurys) | Yes | Yes | |
Fixed Income (Corporate Bonds) | Yes | Yes | |
Fixed Income (Municipal Bonds) | Yes | Yes | |
Traditional IRAs | Yes | Yes | |
Roth IRAs | Yes | Yes | |
Advisor Services | Yes | Yes | |
International Countries (Stocks) | 0 | 0 |
Order Types | Merrill Edge | Ally Invest | |
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Order Type - Market | Yes | Yes | |
Order Type - Limit | Yes | Yes | |
Order Type - After Hours | Yes | Yes | |
Order Type - Stop | Yes | Yes | |
Order Type - Trailing Stop | Yes | No | |
Order Type - OCO | No | No | |
Order Type - OTO | No | No | |
Order Type - Broker Assisted | Yes | Yes |
Beginners | Merrill Edge | Ally Invest | |
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Education (Stocks) | Yes | Yes | |
Education (ETFs) | Yes | Yes | |
Education (Options) | Yes | Yes | |
Education (Mutual Funds) | Yes | Yes | |
Education (Fixed Income) | Yes | Yes | |
Education (Retirement) | Yes | Yes | |
Retirement Calculator | Yes | No | |
Investor Dictionary | Yes | Yes | |
Paper Trading | No | No | |
Videos | Yes | No | |
Webinars | No | No | |
Progress Tracking | No | No | |
Interactive Learning - Quizzes | Yes | No |
Stock Trading Apps | Merrill Edge | Ally Invest | |
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iPhone App | Yes | Yes | |
Android App | Yes | Yes | |
Apple Watch App | No | No | |
Trading - Stocks | Yes | Yes | |
Trading - After-Hours | Yes | Yes | |
Trading - Simple Options | Yes | Yes | |
Trading - Complex Options | Yes | Yes | |
Order Ticket RT Quotes | Yes | Yes | |
Order Ticket SRT Quotes | No | No |
Stock App Features | Merrill Edge | Ally Invest | |
---|---|---|---|
Market Movers (Top Gainers) | Yes | Yes | |
Stream Live TV | No | No | |
Videos on Demand | No | No | |
Stock Alerts | Yes | No | |
Option Chains Viewable | Yes | Yes | |
Watch List (Real-time) | Yes | Yes | |
Watch List (Streaming) | Yes | No | |
Watch Lists - Create & Manage | Yes | Yes | |
Watch Lists - Column Customization | No | No |
Stock App Charting | Merrill Edge | Ally Invest | |
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Charting - After-Hours | No | No | |
Charting - Can Turn Horizontally | Yes | No | |
Charting - Multiple Time Frames | Yes | Yes | |
Charting - Technical Studies | 34 | 0 | |
Charting - Study Customizations | Yes | No | |
Charting - Stock Comparisons | Yes | No |
Trading Platforms | Merrill Edge | Ally Invest | |
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Active Trading Platform | Merrill Edge Market Pro | N/A | |
Desktop Trading Platform | No | No | |
Desktop Platform (Mac) | No | No | |
Web Trading Platform | Yes | Yes | |
Paper Trading | No | No | |
Trade Journal | No | No | |
Watch Lists - Total Fields | 285 | 10 |
Stock Chart Features | Merrill Edge | Ally Invest | |
---|---|---|---|
Charting - Adjust Trades on Chart | Yes | No | |
Charting - Indicators / Studies | 105 | 120 | |
Charting - Drawing Tools | 23 | 36 | |
Charting - Notes | Yes | Yes | |
Charting - Historical Trades | Yes | No | |
Charting - Corporate Events | Yes | No | |
Charting - Custom Date Range | Yes | No | |
Charting - Custom Time Bars | Yes | No | |
Charting - Automated Analysis | Yes | Yes | |
Charting - Save Profiles | Yes | Yes | |
Trade Ideas - Technical Analysis | Yes | No | |
Charting - Study Customizations | 8 | 8 | |
Charting - Custom Studies | No | No |
Day Trading | Merrill Edge | Ally Invest | |
---|---|---|---|
Streaming Time & Sales | Yes | No | |
Streaming TV | No | No | |
Direct Market Routing - Equities | No | No | |
Ladder Trading | No | No | |
Trade Hot Keys | No | No | |
Level 2 Quotes - Stocks | Yes | No | |
Trade Ideas - Backtesting | Yes | No | |
Trade Ideas - Backtesting Adv | No | No | |
Short Locator | No | No | |
Order Liquidity Rebates | No | No |
Research Overview | Merrill Edge | Ally Invest | |
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Research - Stocks | Yes | Yes | |
Research - ETFs | Yes | Yes | |
Research - Mutual Funds | Yes | Yes | |
Research - Pink Sheets / OTCBB | Yes | Yes | |
Research - Fixed Income | Yes | Yes | |
Screener - Stocks | Yes | Yes | |
Screener - ETFs | Yes | Yes | |
Screener - Mutual Funds | Yes | No | |
Screener - Fixed Income | Yes | Yes | |
Portfolio Asset Allocation | Yes | No |
Stock Research | Merrill Edge | Ally Invest | |
---|---|---|---|
Stock Research - PDF Reports | 3 | 0 | |
Stock Research - Earnings | Yes | No | |
Stock Research - Insiders | Yes | Yes | |
Stock Research - Social | No | Yes | |
Stock Research - News | Yes | Yes | |
Stock Research - ESG | Yes | No | |
Stock Research - SEC Filings | Yes | No |
ETF Research | Merrill Edge | Ally Invest | |
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ETFs - Investment Objective | Yes | No | |
ETF Fund Facts - Inception Date | Yes | No | |
ETF Fund Facts - Expense Ratio | Yes | Yes | |
ETF Fund Facts - Total Assets | Yes | Yes | |
ETF Fund Facts - Total Holdings | Yes | No | |
ETFs - Top 10 Holdings | Yes | Yes | |
ETFs - Sector Exposure | Yes | No | |
ETFs - Risk Analysis | Yes | No | |
ETFs - Ratings | Yes | Yes | |
ETFs - Morningstar StyleMap | Yes | No | |
ETFs - PDF Reports | Yes | No |
Mutual Fund Research | Merrill Edge | Ally Invest | |
---|---|---|---|
Mutual Funds - Investment Objective | Yes | Yes | |
Mutual Funds - Performance Chart | Yes | Yes | |
Mutual Funds - Performance Analysis | Yes | No | |
Mutual Funds - Prospectus | Yes | No | |
Mutual Funds - 3rd Party Ratings | Yes | Yes | |
Mutual Funds - Fees Breakdown | Yes | No | |
Mutual Funds - Top 10 Holdings | Yes | Yes | |
Mutual Funds - Asset Allocation | Yes | No | |
Mutual Funds - Sector Allocation | Yes | Yes | |
Mutual Funds - Country Allocation | Yes | No | |
Mutual Funds - StyleMap | Yes | No |
Options Trading | Merrill Edge | Ally Invest | |
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Option Chains - Total Greeks | 5 | 5 | |
Option Analysis - P&L Charts | Yes | No |
Banking | Merrill Edge | Ally Invest | |
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Bank (Member FDIC) | Yes | Yes | |
Checking Accounts | Yes | Yes | |
Savings Accounts | Yes | Yes | |
Credit Cards | Yes | Yes | |
Debit Cards | Yes | Yes | |
Mortgage Loans | Yes | Yes |
Customer Service | Merrill Edge | Ally Invest | |
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Phone Support (Prospective Customers) | Yes | Yes | |
Phone Support (Current Customers) | Yes | Yes | |
Email Support | No | Yes | |
Live Chat (Prospective Customers) | Yes | No | |
Live Chat (Current Customers) | Yes | Yes | |
24/7 Support | Yes | Yes |
Overall | Merrill Edge | Ally Invest | |
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Overall |
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Range of Investments |
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Platforms & Tools |
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Mobile Trading Apps |
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Research |
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Education |
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Ease of Use |
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Winner | check_circle | ||
Review | Merrill Edge Review | Ally Invest Review |