Platform Comparison

Greenlight vs Merrill Edge

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

GL

Greenlight

★4.2

The complete money app for families — debit cards, chores, savings rewards, and $1 investing for kids with a parent approving every trade.

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

Greenlight vs Merrill Edge: Fees, Minimums & DRIP Compared

FeatureGreenlightMerrill Edge
Our Rating4.2/54.5/5
Trading CommissionsN/A$0
Account Minimum$1$0
Fractional SharesN/ADRIP only
DRIPN/AFree
Research ToolsBasicGood
Best ForParents Teaching Kids MoneyBank of America Customers

Greenlight vs Merrill Edge: Pros and Cons

Greenlight

Pros

  • + Complete money management for kids: spending, saving, and investing
  • + Parents approve every trade — nothing happens without permission
  • + Kids can invest in 4,000+ real stocks and ETFs starting at $1
  • + $0 trading commissions on stock and ETF purchases
  • + Savings rewards of 2%–6% depending on plan

Cons

  • - Monthly subscription required — investing starts at $10.98/month (Max)
  • - Not a true custodial account — securities are held in the parent's name
  • - Kids don't legally own the stocks, and the account doesn't transfer at 18 or 21
  • - Dividends aren't automatically reinvested — no DRIP

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: Greenlight or Merrill Edge?

Choose Greenlight if you...

  • Are in Greenlight's core audience: parents teaching kids money

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 Greenlight review and Merrill Edge review.

Compare Other Platforms

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

Greenlight vs FidelityGreenlight vs Charles SchwabGreenlight vs M1 FinanceMerrill Edge vs FidelityMerrill Edge vs Charles SchwabMerrill Edge vs M1 Finance
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.