Platform Comparison

M1 Finance vs Merrill Edge

Compare M1 Finance and Merrill Edge on fees, DRIP, fractional shares and research for dividend investing.

Higher Rated
M1

M1 Finance

★4.7

The ultimate set-it-and-forget-it platform with pie-based portfolios, automatic rebalancing, and free dividend reinvestment.

Full Review
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

M1 Finance vs Merrill Edge: Fees, Minimums & DRIP Compared

FeatureM1 FinanceMerrill Edge
Our Rating4.7/54.5/5
Trading Commissions$0$0
Account Minimum$100$0
Fractional SharesYesDRIP only
DRIPFree + SmartFree
Research ToolsBasicGood
Best ForHands-Off Dividend InvestorsBank of America Customers

M1 Finance vs Merrill Edge: Pros and Cons

M1 Finance

Pros

  • + Commission-free trading on stocks and ETFs
  • + Unique pie-based portfolio system for easy allocation management
  • + Dynamic rebalancing automatically invests new deposits into underweight positions
  • + Fractional shares let you invest any dollar amount
  • + Three dividend reinvestment options including true DRIP

Cons

  • - Limited trading window (9:30 AM EST only, 3 PM with premium)
  • - $3/month platform fee if account balance under $10,000
  • - No options, mutual funds, bonds, or forex trading
  • - Customer service limited to weekday market hours only

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: M1 Finance or Merrill Edge?

Choose M1 Finance if you...

  • Are in M1 Finance's core audience: hands-off dividend investors
  • Prefer a higher-rated overall platform

Choose Merrill Edge if you...

  • Are in Merrill Edge's core audience: bank of america customers

Want the full breakdown of fees, DRIP, and research tools? Read our M1 Finance 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.