Written by StockBrokers.com
In this head to head comparison of Merrill Edge vs SoFi Invest®, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
When comparing Merrill Edge and SoFi Invest®, readers may find that Merrill Edge has a slight edge in variety, as it scores 4.5 out of 5 stars for its range of investments compared to SoFi Invest®’s 3.5 stars. Merrill Edge ranks #7 out of 18 brokers for their investment options according to StockBrokers.com, while SoFi Invest® ranks #14. This indicates that while both offer a range of opportunities, Merrill Edge might appeal more to those seeking a broader investment platform.
Both Merrill Edge and SoFi Invest® offer stock trading, margin trading, mutual funds, and options trading. However, for those looking into trading fractional shares, SoFi Invest® might be the preferred choice as it allows for fractional shares trading, whereas Merrill Edge does not. Both platforms offer the ability to trade OTC stocks but do not support forex, futures, or cryptocurrency trading, each offering zero coins for crypto trading.
For those interested in planning for retirement, both Merrill Edge and SoFi Invest® provide options for traditional and Roth IRA accounts, catering to different retirement needs. Additionally, each platform offers advisor services to help investors manage their portfolios effectively. This similarity in services can make your choice between the two more dependent on specific preferences like investment diversity or the need for fractional shares.
| Feature |
Merrill Edge
|
SoFi Invest®
|
|---|---|---|
| Stock Trading | Yes | Yes |
| Margin Trading | Yes | Yes |
| Fractional Shares | No | Yes |
| 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 2025, Best Futures Trading Platforms for 2025
When comparing the trading platforms and tools of Merrill Edge and SoFi Invest®, Merrill Edge emerges as the more comprehensive option for traders seeking advanced features. It provides a range of charting tools, customization options, and the ability to adjust open orders directly on a stock chart—factors that contribute to its higher rating of four stars from StockBrokers.com. Merrill Edge's position as the 6th-ranked broker out of 18 further highlights its strong offering. In contrast, SoFi Invest® holds a 1.5-star rating and ranks 16th, reflecting its limited range of tools and customization options.
Merrill Edge stands out by offering a browser-based trading platform enriched with 105 technical indicators, 23 drawing tools, and numerous capabilities such as index overlays and historical trade displays on charts. Users can also add notes to charts, display corporate events, and set custom date ranges. These features are ideal for traders keen on detailed analysis and portfolio tracking. Conversely, SoFi Invest® limits users to only three columns for watch lists and provides no options for technical indicators or drawing tools, limiting its appeal to more casual investors or those new to trading.
Both Merrill Edge and SoFi Invest® fall short in certain areas, as neither offers a desktop downloadable platform nor features like paper trading and trading journals. Additionally, neither platform supports the creation of custom studies. However, Merrill Edge allows users to adjust open orders and save multiple chart profiles, offering a more tailored trading experience. With Merrill Edge, traders benefit from a structured and customizable trading environment, while SoFi Invest® offers a simpler, more straightforward platform suited for those who prioritize ease of use over technical depth.
| Feature |
Merrill Edge
|
SoFi Invest®
|
|---|---|---|
| Web Trading Platform | Yes | Yes |
| Desktop Trading Platform | No | No |
| Desktop Platform (Mac) | No | No |
| Paper Trading | No | No |
| Watch Lists - Total Fields | 285 | 3 |
| Charting - Indicators / Studies | 105 | 0 |
| Charting - Drawing Tools | 23 | 0 |
| Platforms & Tools |
|
|
Dive deeper: Best Stock Brokers & Trading Platforms for 2025, Best Paper Trading Platforms for 2025
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When comparing Merrill Edge and SoFi Invest® for beginner and investor education, both platforms offer comprehensive resources across various investment vehicles. Merrill Edge and SoFi Invest® provide education on stocks, ETFs, options, mutual funds, and bonds. They both offer webinars, but differ in additional educational tools. Merrill Edge delivers educational videos and quizzes to engage users in learning, while SoFi Invest® lacks these features. Unfortunately, neither platform offers paper trading or learning progress tracking options, aligning in this respective limitation.
Both platforms are equally rated at 4.5 stars for educational services. However, Merrill Edge takes a slight edge, being ranked #5 compared to SoFi Invest®’s #6 among 18 brokers according to StockBrokers.com. Despite minor differences, both Merrill Edge and SoFi Invest® are strong contenders for investors seeking quality educational resources. Whether utilizing Merrill Edge's additional video and quiz options or SoFi Invest®'s diverse educational offerings, beginners have ample opportunity to deepen their investment knowledge.
| Feature |
Merrill Edge
|
SoFi Invest®
|
|---|---|---|
| Education (Stocks) | Yes | Yes |
| Education (ETFs) | Yes | Yes |
| Education (Options) | Yes | Yes |
| Education (Mutual Funds) | Yes | Yes |
| Education (Bonds) | Yes | Yes |
| Paper Trading | No | No |
| Videos | Yes | No |
| Webinars | Yes | Yes |
| Education |
|
|
Dive deeper: Best Stock Trading Platforms for Beginners of 2025
When it comes to stock trading apps, Merrill Edge emerges as the superior choice with a rating of 4.5 stars, ranking 6th out of 18 brokers according to StockBrokers.com, compared to SoFi Invest®, which holds a 3.5-star rating and ranks 16th. Merrill Edge offers a more comprehensive set of features that cater to both basic and advanced trading needs, making it more appealing for users looking for a robust trading experience. However, while Merrill Edge covers a broader range of functionalities, SoFi Invest® might still be a viable option for those prioritizing simplicity and a straightforward mobile interface.
Both Merrill Edge and SoFi Invest® provide users with iPhone and Android apps, making mobile trading accessible. However, neither supports an Apple Watch app. Merrill Edge stands out by offering mobile after-hours stock trading, options trading, streaming quotes, stock alerts, and custom watch lists, while SoFi Invest® lacks in these areas. Both apps allow users to view multiple time frames for charting, but Merrill Edge goes further with the ability to view charts in landscape mode, display stock comparisons, and utilize 34 technical studies, compared to SoFi Invest®, which offers none.
In terms of multimedia features, neither Merrill Edge nor SoFi Invest® includes streaming live TV or videos on demand. Although SoFi Invest® has a more basic feature set, it can appeal to those who prefer ease over complexity. Therefore, while both apps have their merits, users seeking a comprehensive and feature-rich trading platform would likely find Merrill Edge a more fitting option for their stock trading needs.
| Feature |
Merrill Edge
|
SoFi 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 2025
When comparing Merrill Edge to SoFi Invest® on account fees and other charges, Merrill Edge stands out with a zero-dollar minimum deposit requirement, making it immediately accessible to new investors. In contrast, SoFi Invest® requires a $5.00 minimum deposit, which, while still low, establishes a slight barrier to entry. Both platforms offer commission-free stock trading, providing cost-effective options for those looking to trade stocks without incurring additional fees. However, Merrill Edge charges $0.65 per options contract, while SoFi Invest® offers options trading at no additional cost, which could be attractively suited for investors with a focus on options trading.
Regarding margin balances, fees for Merrill Edge vary depending on the account size, while SoFi Invest® maintains a consistent rate of 11.25% across varying balance tiers. This means that Merrill Edge might be more beneficial or less predictable in terms of cost for margin traders, depending on broader market circumstances or specific account balances. For individual retirement accounts (IRAs), both platforms provide the advantage of zero annual fees, but Merrill Edge charges $49.95 for IRA closures compared to SoFi Invest®, which only charges $20. SoFi Invest® thus offers a more affordable option for closing an IRA.
Account transfers highlight divergence in costs between the two brokers: Merrill Edge doesn't charge for partial or full transfers, appealing to those who prioritize flexibility in moving investments. On the other hand, SoFi Invest® imposes a $100 fee for both partial and full transfers, representing a significant consideration for investors who anticipate changing brokerages. Additionally, while Merrill Edge does not charge fees for options exercise or assignment, SoFi Invest® applies a $5.00 fee for each. These various charges and fees underscore different strengths and considerations for investors selecting between these two platforms based on their personal trading behavior and financial strategies.
| Feature |
Merrill Edge
|
SoFi Invest®
|
|---|---|---|
| Minimum Deposit | $0.00 | $5.00 |
| Stock Trades | $0.00 | $0.00 |
| Options (Per Contract) | $0.65 | $0.00 |
| Options Exercise Fee | $0.00 | $5.00 |
| Options Assignment Fee | $0.00 | $5.00 |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $49.95 | $20.00 |
Dive deeper: Best Free Trading Platforms for 2025
When comparing Merrill Edge and SoFi Invest® for day trading, there's a distinct difference in the tools available for traders. Merrill Edge offers key features like streaming time and sales for stocks, and access to level 2 quotes, which can provide traders with a clearer picture of market dynamics and stock pricing. Additionally, users at Merrill Edge benefit from basic strategy backtesting, allowing them to test their trading approaches before putting them into action. These features cater to traders who are interested in analyzing detailed market data and testing their trading strategies.
On the other hand, SoFi Invest® lacks several features that could be beneficial for day trading, such as streaming time and sales for stocks, level 2 quotes, and any type of strategy backtesting, whether basic or advanced. Both Merrill Edge and SoFi Invest® share some limitations, such as the unavailability of direct market routing, ladder trading, trading hotkeys, and more advanced trading tools like a short locator tool or order liquidity rebates. For day traders who prioritize in-depth market analysis and strategy testing, Merrill Edge may offer a more suitable choice over SoFi Invest®. However, for those who are content with a more simplified trading environment, SoFi Invest® remains an accessible option.
| Feature |
Merrill Edge
|
SoFi Invest®
|
|---|---|---|
| Streaming Time & Sales | Yes | No |
| Streaming TV | No | No |
| Direct Market Routing - Stocks | 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 for 2025
Merrill Edge stands out as a comprehensive option for investors in need of detailed market research, whereas SoFi Invest® may fall short in offering similar resources. Merrill Edge provides extensive research capabilities, allowing users to access information on stocks, ETFs, mutual funds, and bonds. In contrast, SoFi Invest® lacks these in-depth research features, limiting investors who seek a more detailed analysis. With Merrill Edge earning a 5-star rating compared to SoFi Invest®'s half-star rating, it's evident that investors looking for insightful market analysis would likely find more value in choosing Merrill Edge.
Investors using Merrill Edge can explore a variety of tools and resources for making informed decisions. Not only does it offer downloadable PDF reports on stocks, ETFs, and mutual funds, but it also features screeners for finding trade ideas across multiple investment types. Additional aspects like ESG research and portfolio allocation by asset class further enhance its offerings. While both platforms enable viewing portfolio allocation, Merrill Edge's comprehensive suite of research options solidifies its reputation for supporting detailed investment analysis.
On the other hand, SoFi Invest® caters to a different type of investor. Although it provides some general investment functionalities, it does not include extensive research reports or analytical tools such as stock or ETF screeners that are pivotal for those deeply engaged in market evaluation. As a result, SoFi Invest® occupies a lower rank of 16 in market research among 18 brokers surveyed by StockBrokers.com, in stark contrast to Merrill Edge, which sits at position 5. Those who prioritize market research in their investment strategy may find SoFi Invest® does not meet their analytical needs.
| Feature |
Merrill Edge
|
SoFi Invest®
|
|---|---|---|
| Research - Stocks | Yes | No |
| Screener - Stocks | Yes | No |
| Research - ETFs | Yes | No |
| Screener - ETFs | Yes | No |
| Research - Mutual Funds | Yes | No |
| Screener - Mutual Funds | Yes | No |
| Research - Bonds | Yes | No |
| Screener - Bonds | Yes | No |
| Research |
|
|
Merrill Edge and SoFi Invest® both offer a range of banking services that include checking and savings accounts, debit and credit cards, and mortgage loans, providing a one-stop solution for various financial needs. However, a key difference between the two lies in their offerings of Certificates of Deposit (CDs). While Merrill Edge provides CD options, SoFi Invest® does not. This distinction might be important for investors looking to diversify with CD investments. Both platforms present comprehensive banking capabilities, making them suitable options depending on personal preferences and specific financial goals.
| Feature |
Merrill Edge
|
SoFi Invest®
|
|---|---|---|
| Checking Accounts | Yes | Yes |
| Savings Accounts | Yes | Yes |
| Debit Cards | Yes | Yes |
| Credit Cards | Yes | Yes |
| Mortgage Loans | Yes | Yes |
| CDs | Yes | No |
Dive deeper: Best Bank Accounts for Trading Stocks for 2025
After opening live accounts and testing 18 of the best online brokers, our research and live account testing finds that Merrill Edge is better than SoFi Invest®. Merrill Edge finished with an overall score of 92.7%, while SoFi Invest® finished with a score of 64.6%.
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.
While neither Merrill Edge nor SoFi Invest® offers crypto trading options, both platforms provide a wide array of investment opportunities and resources, catering to different financial needs and preferences despite their lack of cryptocurrency offerings.
Dive deeper: Best Online Brokers for Crypto Trading in 2025
Both Merrill Edge and SoFi Invest® offer traditional and Roth IRA accounts with no annual fees, but Merrill Edge charges a $49.95 closure fee compared to SoFi Invest®'s $20.00 fee.
Dive deeper: Best IRA Accounts for 2025
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| Review | Merrill Edge Review | SoFi Invest® Review |
| Broker Screenshots | Merrill Edge | SoFi Invest® | |
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| Trading Fees | Merrill Edge | SoFi Invest® | |
|---|---|---|---|
| Minimum Deposit | $0.00 | $5.00 | |
| Stock Trades | $0.00 | $0.00 | |
| Penny Stock Fees (OTC) | N/A | N/A | |
| Mutual Fund Trade Fee | Varies | $0 | |
| Options (Per Contract) | $0.65 | $0.00 | |
| Futures (Per Contract) | (Not offered) | $0.00 | |
| Broker Assisted Trade Fee | $29.95 | N/A |
| Margin Rates | Merrill Edge | SoFi Invest® | |
|---|---|---|---|
| Margin Rate Under $25,000 | Varies | 11.25% | |
| Margin Rate $25,000 to $49,999.99 | Varies | 11.25% | |
| Margin Rate $50,000 to $99,999.99 | Varies | 11.25% | |
| Margin Rate $100,000 to $249,999.99 | Varies | 11.25% | |
| Margin Rate $250,000 to $499,999.99 | Varies | 11.25% | |
| Margin Rate $500,000 to $999,999.99 | Varies | 11.25% | |
| Margin Rate Above $1,000,000 | Varies | 11.25% |
| Account Fees | Merrill Edge | SoFi Invest® | |
|---|---|---|---|
| IRA Annual Fee | $0.00 | $0.00 | |
| IRA Closure Fee | $49.95 | $20.00 | |
| Account Transfer Out (Partial) | $0.00 | $100.00 | |
| Account Transfer Out (Full) | $0.00 | $100.00 | |
| Options Exercise Fee | $0.00 | $5.00 | |
| Options Assignment Fee | $0.00 | $5.00 |
| Investment Options | Merrill Edge | SoFi Invest® | |
|---|---|---|---|
| Stock Trading | Yes | Yes | |
| Margin Trading | Yes | Yes | |
| Fractional Shares | No | Yes | |
| OTC Stocks | Yes | Yes | |
| Options Trading | Yes | Yes | |
| Complex Options Max Legs | 4 | 0 | |
| Futures Trading | No | No | |
| Forex Trading | No | No | |
| Crypto Trading | No | No | |
| Crypto Trading - Total Coins | 0 | 0 | |
| Mutual Funds (No Load) | 2952 | 0 | |
| Mutual Funds (Total) | 3466 | 6000 | |
| Bonds (US Treasury) | Yes | No | |
| Bonds (Corporate) | Yes | No | |
| Bonds (Municipal) | Yes | No | |
| Traditional IRAs | Yes | Yes | |
| Roth IRAs | Yes | Yes | |
| Advisor Services | Yes | Yes | |
| International Countries (Stocks) | 0 | 0 |
| Order Types | Merrill Edge | SoFi Invest® | |
|---|---|---|---|
| Order Type - Market | Yes | Yes | |
| Order Type - Limit | Yes | Yes | |
| Order Type - After Hours | Yes | Yes | |
| Order Type - Stop | Yes | No | |
| Order Type - Trailing Stop | Yes | No | |
| Order Type - OCO | No | No | |
| Order Type - OTO | No | No | |
| Order Type - Broker Assisted | Yes | No |
| Beginners | Merrill Edge | SoFi Invest® | |
|---|---|---|---|
| Education (Stocks) | Yes | Yes | |
| Education (ETFs) | Yes | Yes | |
| Education (Options) | Yes | Yes | |
| Education (Mutual Funds) | Yes | Yes | |
| Education (Bonds) | Yes | Yes | |
| Education (Retirement) | Yes | Yes | |
| Retirement Calculator | Yes | No | |
| Investor Dictionary | Yes | Yes | |
| Paper Trading | No | No | |
| Videos | Yes | No | |
| Webinars | Yes | Yes | |
| Webinars (Archived) | Yes | Yes | |
| Progress Tracking | No | No | |
| Interactive Learning - Quizzes | Yes | No |
| Stock Trading Apps | Merrill Edge | SoFi 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 | No | |
| Trading - Complex Options | Yes | No | |
| Order Ticket RT Quotes | Yes | Yes | |
| Order Ticket SRT Quotes | No | No |
| Stock App Features | Merrill Edge | SoFi 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 | No | |
| Watch List (Real-time) | Yes | Yes | |
| Watch List (Streaming) | Yes | No | |
| Watch Lists - Create & Manage | Yes | No | |
| Watch Lists - Column Customization | No | No |
| Stock App Charting | Merrill Edge | SoFi 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 | SoFi 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 | |
| Watch Lists - Total Fields | 285 | 3 |
| Stock Chart Features | Merrill Edge | SoFi Invest® | |
|---|---|---|---|
| Charting - Adjust Trades on Chart | Yes | No | |
| Charting - Indicators / Studies | 105 | 0 | |
| Charting - Drawing Tools | 23 | 0 | |
| Charting - Notes | Yes | No | |
| Charting - Index Overlays | Yes | No | |
| 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 | No | |
| Charting - Save Profiles | Yes | No | |
| Trade Ideas - Technical Analysis | Yes | No | |
| Charting - Study Customizations | 8 | 0 | |
| Charting - Custom Studies | No | No |
| Day Trading | Merrill Edge | SoFi Invest® | |
|---|---|---|---|
| Streaming Time & Sales | Yes | No | |
| Streaming TV | No | No | |
| Direct Market Routing - Stocks | No | No | |
| Ladder Trading | No | No | |
| Trade Hotkeys | 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 | SoFi Invest® | |
|---|---|---|---|
| Research - Stocks | Yes | No | |
| Research - ETFs | Yes | No | |
| Research - Mutual Funds | Yes | No | |
| Research - Pink Sheets / OTCBB | Yes | No | |
| Research - Bonds | Yes | No | |
| Screener - Stocks | Yes | No | |
| Screener - ETFs | Yes | No | |
| Screener - Mutual Funds | Yes | No | |
| Screener - Bonds | Yes | No | |
| Misc - Portfolio Allocation | Yes | Yes |
| Stock Research | Merrill Edge | SoFi Invest® | |
|---|---|---|---|
| Stock Research - PDF Reports | 3 | 0 | |
| Stock Research - Earnings | Yes | No | |
| Stock Research - Insiders | Yes | No | |
| Stock Research - Social | No | No | |
| Stock Research - News | Yes | Yes | |
| Stock Research - ESG | Yes | No | |
| Stock Research - SEC Filings | Yes | No |
| ETF Research | Merrill Edge | SoFi Invest® | |
|---|---|---|---|
| ETFs - Strategy Overview | Yes | Yes | |
| ETF Fund Facts - Inception Date | Yes | No | |
| ETF Fund Facts - Expense Ratio | Yes | Yes | |
| ETF Fund Facts - Net Assets | Yes | No | |
| 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 | No | |
| ETFs - Morningstar StyleMap | Yes | No | |
| ETFs - PDF Reports | Yes | No |
| Mutual Fund Research | Merrill Edge | SoFi Invest® | |
|---|---|---|---|
| Mutual Funds - Strategy Overview | Yes | No | |
| Mutual Funds - Performance Chart | Yes | No | |
| Mutual Funds - Performance Analysis | Yes | No | |
| Mutual Funds - Prospectus | Yes | No | |
| Mutual Funds - 3rd Party Ratings | Yes | No | |
| Mutual Funds - Fees Breakdown | Yes | No | |
| Mutual Funds - Top 10 Holdings | Yes | No | |
| Mutual Funds - Asset Allocation | Yes | No | |
| Mutual Funds - Sector Allocation | Yes | No | |
| Mutual Funds - Country Allocation | Yes | No | |
| Mutual Funds - StyleMap | Yes | No |
| Options Trading | Merrill Edge | SoFi Invest® | |
|---|---|---|---|
| Option Chains - Basic View | Yes | Yes | |
| Option Chains - Strategy View | Yes | No | |
| Option Chains - Streaming | Yes | No | |
| Option Chains - Total Columns | 68 | 0 | |
| Option Chains - Greeks | 5 | 0 | |
| Option Chains - Quick Analysis | Yes | No | |
| Option Analysis - P&L Charts | Yes | No | |
| Option Probability Analysis | Yes | No | |
| Option Probability Analysis Adv | No | No | |
| Option Positions - Greeks | Yes | No | |
| Option Positions - Greeks Streaming | Yes | No | |
| Option Positions - Adv Analysis | Yes | No | |
| Option Positions - Rolling | Yes | No | |
| Option Positions - Grouping | Yes | No |
| Banking | Merrill Edge | SoFi 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 | SoFi Invest® | |
|---|---|---|---|
| Phone Support (Prospect Customers) | Yes | Yes | |
| Phone Support (Current Customers) | Yes | Yes | |
| Email Support | No | No | |
| Live Chat (Prospect Customers) | Yes | Yes | |
| Live Chat (Current Customers) | Yes | Yes | |
| 24/7 Support | Yes | No |
| Overall | Merrill Edge | SoFi Invest® | |
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| Commissions & Fees | N/A | N/A | |
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| Winner | check_circle | ||
| Review | Merrill Edge Review | SoFi Invest® Review |
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