Platform Comparison

Acorns vs Merrill Edge

Compare Acorns and Merrill Edge on fees, DRIP, fractional shares and research for dividend investing.

AC

Acorns

★4.1

The micro-investing app that turns your spare change into investments through Round-Ups—perfect for beginners who struggle to save consistently.

Full Review
Higher Rated
ME

Merrill Edge

★4.5

Bank of America's brokerage offering seamless banking integration, solid research tools, and the valuable Preferred Rewards program for qualifying customers.

Full Review

Acorns vs Merrill Edge: Fees, Minimums & DRIP Compared

FeatureAcornsMerrill Edge
Our Rating4.1/54.5/5
Trading CommissionsN/A$0
Account Minimum$0$0
Fractional SharesN/ADRIP only
DRIPAutomaticFree
Research ToolsBasicGood
Best ForBeginner SaversBank of America Customers

Acorns vs Merrill Edge: Pros and Cons

Acorns

Pros

  • + Round-Ups automatically invest spare change from purchases
  • + No account minimum—start investing with $5
  • + Automatic dividend reinvestment included
  • + Diversified portfolios using Vanguard and iShares ETFs
  • + Free for college students with .edu email

Cons

  • - Flat monthly fee is expensive for small balances
  • - No tax-loss harvesting (unlike Betterment/Wealthfront)
  • - Cannot choose individual stocks or ETFs
  • - Limited customization of portfolios

Merrill Edge

Pros

  • + Commission-free trading on stocks and ETFs
  • + Seamless integration with Bank of America accounts
  • + Selective DRIP—choose which securities reinvest dividends
  • + DRIP supports fractional share reinvestment
  • + Preferred Rewards program offers fee discounts and bonuses

Cons

  • - No direct fractional share purchases (DRIP only)
  • - Mutual fund transaction fees up to $19.95
  • - Low interest rate on uninvested cash
  • - $49.95 full account transfer fee

Which Is Better for Dividend Investors: Acorns or Merrill Edge?

Choose Acorns if you...

  • Are in Acorns's core audience: beginner savers
  • Need automatic dividend reinvestment

Choose Merrill Edge if you...

  • Are in Merrill Edge's core audience: bank of america customers
  • Prefer a higher-rated overall platform

Want the full breakdown of fees, DRIP, and research tools? Read our Acorns review and Merrill Edge review.

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Investment Disclaimer

Investing involves risk, including possible loss of principal. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice.