Platform Comparison

Axos Invest vs Merrill Edge

Detailed side-by-side comparison to help you choose the best platform for dividend investing

Axos Invest

★3.9

A budget-friendly robo-advisor with automatic rebalancing and tax-loss harvesting at just 0.24% annually—great value but limited customization.

Full Review

Higher Rated

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

Feature Comparison

Feature	Axos Invest	Merrill Edge
Our Rating	3.9/5	4.5/5
Trading Commissions	N/A	$0
Account Minimum	$1	$0
Fractional Shares	N/A	DRIP only
DRIP	Yes	Free
Research Tools	Automated	Good
Best For	Cost-Conscious Beginners	Bank of America Customers

Pros & Cons

Axos Invest

Pros

+ Very low 0.24% annual advisory fee
+ No account minimum for managed portfolios ($1 to start)
+ Automatic dividend reinvestment (DRIP) included
+ Tax-loss harvesting at no extra cost
+ Automatic portfolio rebalancing

Cons

- Limited portfolio customization—can't exclude specific ETFs
- Only 5 pre-built portfolios to choose from
- No direct indexing or advanced tax strategies
- Customer support limited to business hours

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 Platform is Right for You?

Choose Axos Invest if you...

Want cost-conscious beginners focused features
Need automatic dividend reinvestment

Choose Merrill Edge if you...

Want bank of america customers focused features
Prefer a higher-rated overall platform

Compare Other Platforms

Not sure these are the right fit? Explore more comparisons.

VanguardvsWealthfront AcornsvsPublic eTorovsE*TRADE Ally InvestvsWebull StashvsTD Ameritrade

View All Platforms

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.