★ BEST INVESTING TOOLS COMPARISON ★
VOL. XCIV, NO. 247
Tool details checked July 17, 2026
Tool Comparison
Merrill Edge vs SoFi Invest
Pick Merrill Edge if
Merrill Edge
Transaction-priced · Fees vary by offer and jurisdiction · Web · Mobile · Desktop
- You care about advanced order types, something SoFi Invest doesn't offer
- You've outgrown the basics and want pro-level depth
Pick SoFi Invest if
SoFi Invest
Transaction-priced · Fees vary by offer and jurisdiction · Web · Mobile
Skip both if: Neither one clicks with how you research; there are strong third options.
See alternativesOutbound links may include affiliate or sponsor codes.
Our take
The bottom line
Merrill Edge and SoFi Invest cover a lot of the same ground (5 shared categories, including brokerage, portfolio, and watchlist), so for the basics you won't go far wrong with either. On paper they're closely matched, so let pricing, platform fit, and the details below break the tie.
What readers say
Merrill Edge
Vote once to reveal the community verdict.
SoFi Invest
Vote once to reveal the community verdict.
Key differences at a glance
- Asset coverage
- Merrill EdgeAdds bonds
- Desktop app
- Merrill Edge
See for yourself
How they stack up
The side-by-side table: pricing, platforms, data, and coverage at a glance.ShowHide
How they stack up
The side-by-side table: pricing, platforms, data, and coverage at a glance.| Attribute | ||
|---|---|---|
| Pricing & plans | ||
Starting price | Transaction-priced · Fees vary by offer and jurisdiction | Transaction-priced · Fees vary by offer and jurisdiction |
Free tier | No | No |
Free trial | — | — |
| Platforms & access | ||
Web app | Yes | Yes |
Desktop app | Yes | No |
Mobile app | Yes | Yes |
API access | No | No |
| Audience & fit | ||
Experience level | Beginner, Intermediate, Advanced | Beginner, Intermediate |
Best for | — | — |
Categories covered | 6 | 5 |
Regions | North America | North America |
| Try it | Visit Merrill Edge | Visit SoFi Invest |
Where each one shines
What Merrill Edge and SoFi Invest each do best.ShowHide
Where each one shines
What Merrill Edge and SoFi Invest each do best.What Merrill Edge does best
- Individual, joint, custodial, trust, estate, IRA, and eligible small-business self-directed accounts.
- Stocks, ETFs, mutual funds, bonds, CDs, options, margin, and research tools.
- Merrill website, mobile app, and MarketPro active-trading workflows.
- Connected Bank of America and Merrill account visibility with immediate eligible internal transfers.
- Tiered Bank Deposit Program sweep for uninvested brokerage cash.
What SoFi Invest does best
- Online U.S. stock, ETF, and listed-options trading with $0 stated commissions.
- More than 4,000 eligible stock and ETF fractions starting at $5.
- Individual, joint, community-property, tenancy-by-entirety, and eligible IRA registrations.
- Mutual funds, interval funds, and tender-offer funds with product-specific transaction costs.
- Recurring deposits, portfolio monitoring, watchlists, and integrated SoFi app access.
Every detail we compared
Every tracked attribute for Merrill Edge and SoFi Invest, side by side.ShowHide
Every detail we compared
Every tracked attribute for Merrill Edge and SoFi Invest, side by side.| Attribute | ||
|---|---|---|
| Coverage & fit | ||
Asset types | StocksETFsOptionsBondsMutual Funds | StocksETFsOptionsMutual Funds |
Experience | BeginnerIntermediateAdvanced | BeginnerIntermediate |
Regions | North America | North America |
Coverage details | Identifiers: Ticker and CUSIP | Identifiers: Ticker |
| Access & integrations | ||
Export formats | CSVPDF | CSVPDF |
| Plans & trust | ||
Vendor & support | Merrill Lynch, Pierce, Fenner & Smith IncorporatedCountry: United StatesSupport: Phone and Chat | SoFi Securities LLCCountry: United StatesSupport: Phone and Chat |
Green tags are exclusive to that tool in this comparison.
Questions we keep getting
What's the difference between Merrill Edge and SoFi Invest?
Merrill Edge leans toward brokerage, portfolio, and watchlist, while SoFi Invest puts more weight on brokerage, portfolio, and watchlist. They overlap in 5 categories, so for most people it comes down to workflow preference and price.
How much do Merrill Edge and SoFi Invest cost?
Neither has a free plan; you'll need a paid subscription for the full feature set of either. Check each tool's current plan details before buying.
Which is better for beginners: Merrill Edge or SoFi Invest?
Honestly, neither is aimed at beginners. Expect a learning curve either way; that's the trade-off for the depth they offer.
Should I choose Merrill Edge or SoFi Invest?
It depends on what you're after. Pick Merrill Edge if advanced order types matter to you; go with SoFi Invest if you prefer its overall approach. And if you only need the basics both share, let price decide.
What asset classes do Merrill Edge and SoFi Invest cover?
Both cover stocks, ETFs, options, and mutual funds. Merrill Edge also handles bonds.
Can I export data from Merrill Edge and SoFi Invest?
Yes, both export to spreadsheets (CSV), which is handy if you like running your own numbers.
Can I track my portfolio with Merrill Edge or SoFi Invest?
Yes, both do portfolio tracking: holdings, performance, and allocation in one place.
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Curation & Accuracy
This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).
Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.