Ally invest
merrill edge
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Overview
Ally invest was founded in 2013 and is headquartered in United States, while merrill edge was established in 2010 and is based in USA. Ally invest holds licences including Cyprus Securities and Exchange Commission (CySEC), while merrill edge is regulated by Financial Conduct Authority (FCA) among others. Ally invest serves 10,000+ clients worldwide; merrill edge has 10,000+. The minimum deposit is $500 at Ally invest and $250 at merrill edge.
| Feature | Ally invest | merrill edge |
|---|---|---|
| Min. Deposit | $500 | $250 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F277 |
| Founded | 2013 | 2010 |
| Country | United States | USA |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Ally invest and merrill edge, directly affecting your bottom line as a trader. merrill edge has a lower barrier to entry with a minimum deposit of $250 (vs $500 at Ally invest). Neither broker charges withdrawal fees. Ally invest applies inactivity fees on dormant accounts; merrill edge does not. Overall, merrill edge scores higher on fees in our assessment.
| Feature | Ally invest | merrill edge |
|---|---|---|
| Min. Deposit | $500 | $250 |
| Withdrawal Fees | No | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | No |
| CFD Fees | Yes | No |
Platforms
Ally invest offers MT5, cTrader, while merrill edge supports MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | Ally invest | merrill edge |
|---|---|---|
| MT4 | No | No |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Desktop,Android,iPhone,Mac | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Ally invest and merrill edge compare. Ally invest runs regular live webinars; merrill edge does not. Both provide video tutorials. Ally invest publishes daily market commentary; merrill edge does not. Both integrate third-party research tools. Ally invest maintains an archive of past webinars for on-demand viewing. Ally invest scores higher overall in education and research.
| Feature | Ally invest | merrill edge |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Ally invest accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while merrill edge supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). merrill edge uniquely supports PayPal and Skrill and Neteller among the two brokers. merrill edge scores higher on deposit and withdrawal flexibility.
| Feature | Ally invest | merrill edge |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Ally invest and merrill edge offer live chat support. Both provide phone support. Email support is available at both brokers. Ally invest supports 2 languages and merrill edge supports 8, giving merrill edge broader global reach. Both brokers are comparable on support quality.
| Feature | Ally invest | merrill edge |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |