Updated September 28, 2026 · BrokerCue Editorial Team
Ally Bank vs Merrill Edge
Ally Bank
Higher score in this comparison
Merrill Edge
Ally Bank vs Merrill Edge: the differences
| Compare | Ally BankReviewSee alternativesSee alternatives | Merrill EdgeReviewSee alternativesSee alternatives |
|---|---|---|
| Regulators | SEC, FINRA, FDICCovers more | FINRA, SEC |
| Options contract fee | $0.50Lower | $0.65 |
| Account types | Joint, IRA, Roth IRA | IRA, Roth IRA, Joint, CorporateCovers more |
| Platforms | Not confirmed | Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app |
Same on both: Minimum deposit ($0), Stock trade fee ($0), Account fee ($0), Inactivity fee ($0), Markets (Stocks, ETFs, Options, Funds, Bonds), Investor protection (SIPC up to USD 500,000).
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Key differences
- Ally Bank scores higher overall: 9.6 vs 9.5.
- Regulators: only Ally Bank offers FDIC.
- Founded is lower at Merrill Edge: 1914 vs 1919.
- Options contract fee is lower at Ally Bank: $0.50 vs $0.65.
- Account types: only Merrill Edge offers Corporate.
Our verdict on each
Ally Bank
Ally Bank suits US investors who want commission-free share dealing with a free account and a free inactivity charge, and it heads the cost table on the measures compared. The trade-off sits in the automated portfolios, which take a management fee of 0% to 0.3% and a starting investment of $100.
Merrill Edge
Merrill Edge is a US brokerage that suits investors who want commission-free stock and ETF dealing alongside a brokerage account. Stock trade fees of $0 and an account fee of $0 put it in the cheapest band we rate, though options and managed portfolios carry their own charges.
Score breakdown
| Area | Ally Bank | Merrill Edge |
|---|---|---|
| Cost | 9.4Higher$0 to trade shares, $0 account fee, $0 inactivity charge, with $0.50 per options contract and 0% to 0.3% on automated portfolios. | 9.3Stock trade fee of $0, account fee of $0 and no inactivity charge at $0, with options at $0.65 per contract. |
| Offer | 9.6 | 9.6 |
| Trust | 9.8Higher | 9.7 |
How they place
| Ranking | Ally Bank | Merrill Edge |
|---|---|---|
| Stock and ETF brokers | 43 of 474 | 53 of 474 |
| Options trading platforms | 6 of 103 | 13 of 103 |
| Low-fee brokers | 2 of 11 | 5 of 11 |
| Robo-advisors | 9 of 151 | 14 of 151 |
Every fact side by side
| Fact | Ally Bank | Merrill Edge |
|---|---|---|
| Features | Not confirmed | Fractional shares, Demo account, Mobile app, Options |
| Pricing model | Commission free | Commission free |
| Audience | Not confirmed | Beginners, Experienced |
| Legal entity | Ally Bank | Merrill Lynch, Pierce, Fenner and Smith Incorporated |
| Headquarters | United States | United States |
| Founded | 1919 | 1914Lower |
| Support channels | Email, Chat, Phone, Help centre | Phone, Chat, Help centre, Email |
Robo-advisors
| Fact | Ally Bank | Merrill Edge |
|---|---|---|
| Management fee | 0% to 0.3%Lower | 0.45% to 0.85% |
| Minimum investment | $100 | $0 to $1,000Lower |
| Portfolio types | ETF, ESG, CashCovers more | ETF |
Where each stands against the rest
| Fact | Ally Bank | Merrill Edge | Median |
|---|---|---|---|
| Minimum deposit | $0below the median | $0below the median | $25 |
| Stock trade fee | $0at the median | $0at the median | $0 |
| Account fee | $0at the median | $0at the median | $0 |
| Inactivity fee | $0at the median | $0at the median | $0 |
| Options contract fee | $0.50below the median | $0.65above the median | $0.625 |
Median across 137 listed brokers.
Pros and cons
Ally Bank
Pros
- A stock trade costs $0 and the account fee is $0, so holding a US portfolio costs nothing at the platform level.
- The inactivity fee is $0, and Ally ranks 1 on that measure among 56, so a dormant balance is not quietly drained.
- Regulated in the US by SEC, FINRA and FDIC, with investor protection recorded as SIPC up to USD 500,000 and an FDIC certificate of FDIC cert 57803.
Cons
- The automated portfolios take a management fee of 0% to 0.3% a year, so a free account is not the whole cost picture.
- Options carry $0.50 per contract, so the commission-free model in commission free does not reach derivative trading.
- Account types run to joint, ira and roth ira, with no wrapper for a tax-sheltered investor who is not saving through a retirement account.
Merrill Edge
Pros
- Stock trades cost $0 and the account fee is $0, so the everyday cost of holding a brokerage account is minimal
- No inactivity charge at $0, unlike several rivals that bill dormant accounts
- Minimum deposit of $0 means an account can be opened and funded without a large starting balance
Cons
- Options cost $0.65 per contract, so the free stock dealing does not extend to derivatives
- Managed portfolios charge 0.45% to 0.85% in advisory fees, where commission-free dealing applies only to self-directed trading
- Account types are limited to retirement and joint and corporate forms, so it does not cover the wider account range some rivals offer
Who each suits
Ally Bank
Who it suits
- US savers who want commission-free share dealing, a minimum deposit of $0 and an account fee of $0.
- Retirement investors, since joint, ira and roth ira covers individual retirement accounts and joint accounts.
- People who would rather ring than email, since email, chat and phone includes phone, chat, email and a help centre.
Who should look elsewhere
- Traders after forex, contracts for difference or crypto, since stocks, etfs and options stops at the US list while stocks, etfs and forex goes further.
- Anyone who wants leveraged index exposure on the same account, where CFI covers stocks, etfs and forex and Ally does not.
Merrill Edge
Who it suits
- US investors who want commission-free stocks and ETFs plus a retirement account in one place
- Long term holders who would rather avoid an inactivity charge of $0 and the account fees some rivals levy
- Beginners and experienced traders who appreciate support across phone, chat and help centre
Who should look elsewhere
- Investors who want forex or crypto, as the market list holds stocks, etfs and options
- Anyone looking for a fully managed portfolio without paying advisory fees of 0.45% to 0.85%
- Readers who want the wider market spread offered by CFI or eToro, where the asset mix runs wider than stocks, etfs and options
Current offers
Merrill Edge
Current offer
First period offer
$0 program fee for 6 months - Merrill Guided Investing: $0 for 6 months
New enrollments, use offer code 6FREE
Source, checked September 26, 2026
Country by country
| Country | Ally Bank | Merrill Edge |
|---|---|---|
| United States | Yes | Yes |
Questions about each
Ally Bank
What does it cost to open a self-directed account and place a trade?+
Opening costs nothing beyond the deposit itself, and the minimum deposit is $0. Trading shares carries a fee of $0 and the account fee is $0, so a small starter order does not eat into the position. Options are the exception and are priced separately per contract.
Is there a charge if I leave the account empty?+
No. The inactivity fee is $0, which means an account you stop using carries no monthly drain on the balance. It matters most for anyone splitting cash between trading and holding, because a dormant account here does not quietly shave the value of what sits in it while a decision is pending.
Merrill Edge
What does it cost to trade stocks at Merrill Edge?+
Online stock dealing is priced at a stock trade fee of $0, with an account fee of $0 on the brokerage account. The inactivity fee is $0, so a dormant account is not billed. Options trades are charged separately at $0.65 per contract.
Which regulator supervises Merrill Edge?+
Merrill Edge is supervised in the US, and the regulators recorded for it are FINRA and SEC. The legal entity behind the brand is Merrill Lynch, Pierce, Fenner and Smith Incorporated. Securities held in the account fall under the investor protection arrangement stated as SIPC up to USD 500,000.
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