Platform Comparison

Axos Invest vs Merrill Edge

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

AX

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.

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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

Axos Invest vs Merrill Edge: Fees, Minimums & DRIP Compared

FeatureAxos InvestMerrill Edge
Our Rating3.9/54.5/5
Trading CommissionsN/A$0
Account Minimum$1$0
Fractional SharesN/ADRIP only
DRIPYesFree
Research ToolsAutomatedGood
Best ForCost-Conscious BeginnersBank of America Customers

Axos Invest vs Merrill Edge: Pros and 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 Is Better for Dividend Investors: Axos Invest or Merrill Edge?

Choose Axos Invest if you...

  • Are in Axos Invest's core audience: cost-conscious beginners
  • 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 Axos Invest 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.