Written by StockBrokers.com
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 the Merrill Edge vs. Ally Invest comparison, both brokers cover the core investing needs well, but Merrill Edge gets a slight edge for variety. Each earns 4 stars for Range of Investments, yet StockBrokers.com ranks Merrill Edge higher (#7 of 14) than Ally Invest (#11 of 14). If you want a broad, mainstream lineup without crypto, forex, or futures, both are strong picks, with Merrill Edge holding a small advantage for selection.
Both platforms offer stock trading (including OTC stocks), options trading, mutual funds, and margin accounts. Neither supports fractional shares, so you’ll need to buy whole shares. If you’re looking for crypto, forex, or futures, note that neither broker offers them—crypto trading isn’t available and the number of supported coins is 0 for both.
For accounts, Merrill Edge and Ally Invest both provide Traditional and Roth IRAs, along with advisor services for investors who want guidance. Choose either broker for straightforward stock-and-fund investing with options; pick Merrill Edge if that higher industry ranking for investment variety matters to you, or Ally Invest if you prefer its platform or banking ties.
| Feature |
Merrill Edge
|
Ally Invest
|
|---|---|---|
| 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 |
|
|
Dive deeper: Best Options Trading Platforms for 2026, Best Futures Trading Platforms for 2026
Merrill Edge vs Ally Invest: For trading platforms and tools, Merrill Edge is the stronger overall pick. It earns 3.5 stars and ranks #7 out of 14 on StockBrokers.com, while Ally Invest sits at 1.5 stars and #10. Both are web-first brokers with no desktop apps, but Merrill Edge stands out with far deeper watchlists and more on-chart trading controls. Ally Invest counters with a larger set of indicators and drawing tools, yet Merrill Edge’s feature mix will suit more investors day to day.
Neither broker offers a downloadable platform for Windows or Mac; both run in your browser. Paper trading and a built-in trading journal are missing at both firms. These basics make the head-to-head come down to how each handles watchlists and charts within the web experience.
Merrill Edge offers extensive watchlists with 285 data fields versus Ally Invest’s 10. On charts, Merrill Edge lets you adjust open orders directly, show your past trades, display corporate events like earnings and dividends, and set custom date ranges—all areas where Ally Invest does not. Both let you add notes, spot automated chart patterns, save multiple chart layouts, and tweak an SMA study with eight fields. For studies and drawings, Ally Invest provides more total choices (around 120 indicators and 36 drawing tools) than Merrill Edge (about 105 indicators and 23 drawing tools). Neither broker supports building your own custom studies.
| Feature |
Merrill Edge
|
Ally Invest
|
|---|---|---|
| Web Trading Platform | Yes | Yes |
| Desktop Trading Platform | No | No |
| Desktop Platform (Mac) | No | No |
| Paper Trading | No | No |
| Watchlists - Total Fields | 285 | 10 |
| Charting - Indicators / Studies | 105 | 120 |
| Charting - Drawing Tools | 23 | 36 |
| Advanced Trading |
|
|
Dive deeper: Best Stock Brokers for 2026, Best Paper Trading Apps & Platforms for 2026
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Merrill Edge vs. Ally Invest for education: both brokers cover the basics, with lessons on stocks, ETFs, options, mutual funds, and bonds. The key difference is format. Merrill Edge adds educational videos, webinars, and quizzes to help beginners and self-directed investors learn and test their knowledge. Ally Invest does not offer videos, webinars, or quizzes. Neither broker includes paper trading or tools to track your learning progress.
StockBrokers.com rates Merrill Edge 4 out of 5 stars for education and ranks it #6 of 14 brokers, while Ally Invest earns 3 stars and ranks #12. If you want more engaging learning options, Merrill Edge is the stronger pick. If you only need straightforward reading on core topics, Ally Invest covers the essentials.
| Feature |
Merrill Edge
|
Ally Invest
|
|---|---|---|
| Education (Stocks) | Yes | Yes |
| Education (ETFs) | Yes | Yes |
| Education (Options) | Yes | Yes |
| Education (Mutual Funds) | Yes | Yes |
| Education (Fixed Income) | Yes | Yes |
| Videos | Yes | No |
| Webinars | Yes | No |
| Education |
|
|
Dive deeper: Best Stock Trading Platforms & Apps for Beginners in 2026
Bottom line: In a Merrill Edge vs Ally Invest stock trading app comparison, Merrill Edge comes out ahead for mobile traders. Both offer iPhone and Android apps with streaming quotes and mobile options trading, but Merrill Edge adds stock alerts and far more chart tools (34 technical studies, landscape charts, and on-chart stock comparisons). Merrill Edge also supports mobile after-hours trading, while Ally Invest’s after-hours status wasn’t provided. Neither supports Apple Watch. Reflecting this gap, Merrill Edge earns 4 stars and ranks 9th out of 14 on StockBrokers.com, while Ally Invest earns 3 stars and ranks 14th.
Core features are similar in some areas: both the Merrill Edge app and the Ally Invest app are available for iPhone and Android, and both provide streaming quotes. Streaming live TV and videos on demand are not available on either app. Mobile options trading is available on both. Stock alerts are a differentiator—Merrill Edge offers them; Ally Invest does not. You can create custom watch lists with both brokers, but neither app lets you customize watch list columns.
Charting is where Merrill Edge pulls away. Neither app offers after-hours charting, and both allow multiple time frames. However, Merrill Edge supports landscape chart views, 34 technical studies, and on-chart symbol comparisons. Ally Invest does not support landscape charts, has no technical studies, and does not allow chart comparisons.
| Feature |
Merrill Edge
|
Ally Invest
|
|---|---|---|
| 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 |
|
|
Dive deeper: Best Stock Trading Apps for 2026
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 |
Merrill Edge
|
Ally Invest
|
|---|---|---|
| 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 2026
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 |
Merrill Edge
|
Ally Invest
|
|---|---|---|
| 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 and Apps for 2026
If you’re choosing between Merrill Edge and Ally Invest for market research, Merrill Edge is the stronger pick overall. It earns 4.5 out of 5 stars and ranks #4 of 14 brokers with StockBrokers.com, compared with Ally Invest’s 3 stars and #9 ranking. Both brokers cover stocks, ETFs, mutual funds, bonds, and OTC/Pink Sheets, but Merrill Edge offers more traditional research depth and report availability, while Ally Invest’s main advantage is social media sentiment tools.
Both platforms provide research for stocks, ETFs, mutual funds, bonds, and Pink Sheets/OTCBB. Merrill Edge uniquely lets you view portfolio allocation by asset class, supports ESG research, and supplies downloadable PDF reports—three for stocks plus reports for ETFs and mutual funds. Ally Invest lacks portfolio allocation views and ESG research and does not provide downloadable PDF reports, but it does offer stock research using social media sentiment, which Merrill Edge does not.
For idea generation, both include stock and ETF screeners and bond screeners. Merrill Edge also adds a mutual fund screener; Ally Invest does not. Bottom line: choose Merrill Edge if you want analyst PDFs, ESG insights, and full screening across asset types; pick Ally Invest if social sentiment is a key part of your process and basic screeners are enough.
| Feature |
Merrill Edge
|
Ally Invest
|
|---|---|---|
| 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 |
|
|
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 |
Merrill Edge
|
Ally Invest
|
|---|---|---|
| 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 2026
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 81.9%, while Ally Invest finished with a score of 56.0%.
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 2026
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.
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0 of 5| Overall Rating | Merrill Edge | Ally Invest | |
|---|---|---|---|
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| Customer Service |
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| Winner | check_circle | ||
| Review | Merrill Edge Review | Ally Invest Review |
| Broker Screenshots | Merrill Edge | Ally Invest | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Trading Fees | Merrill Edge | Ally Invest | |
|---|---|---|---|
| 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 | |
|---|---|---|---|
| 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 | |
|---|---|---|---|
| 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 | |
|---|---|---|---|
| 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 | |
|---|---|---|---|
| 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 | |
|---|---|---|---|
| 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 | Yes | No | |
| Progress Tracking | No | No | |
| Interactive Learning - Quizzes | Yes | No |
| Stock Trading Apps | Merrill Edge | Ally Invest | |
|---|---|---|---|
| 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 | |
|---|---|---|---|
| Mobile Research - Market Movers | Yes | Yes | |
| Stream Live TV | No | No | |
| Videos on Demand | No | No | |
| Stock Alerts | Yes | No | |
| Option Chains Viewable | Yes | Yes | |
| Watchlist (Real-time) | Yes | Yes | |
| Watchlist (Streaming) | Yes | No | |
| Mobile Watchlists - Create & Manage | Yes | Yes | |
| Mobile Watchlists - Column Customization | No | No |
| Stock App Charting | Merrill Edge | Ally Invest | |
|---|---|---|---|
| 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 | |
|---|---|---|---|
| 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 | |
| Watchlists - 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 | |
|---|---|---|---|
| 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 | |
|---|---|---|---|
| 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 | |
|---|---|---|---|
| Option Chains - Total Greeks | 5 | 5 | |
| Option Analysis - P&L Charts | Yes | No |
| Banking | Merrill Edge | Ally Invest | |
|---|---|---|---|
| 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 | |
|---|---|---|---|
| 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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| Winner | check_circle | ||
| Review | Merrill Edge Review | Ally Invest Review |
Charles Schwab
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