Platform Comparison

M1 Finance vs Merrill Edge

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

Higher Rated

M1 Finance

★4.7

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

Full Review

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	M1 Finance	Merrill Edge
Our Rating	4.7/5	4.5/5
Trading Commissions	$0	$0
Account Minimum	$100	$0
Fractional Shares	Yes	DRIP only
DRIP	Free + Smart	Free
Research Tools	Basic	Good
Best For	Hands-Off Dividend Investors	Bank of America Customers

Pros & 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 Platform is Right for You?

Choose M1 Finance if you...

Want hands-off dividend investors focused features
Prefer a higher-rated overall platform

Choose Merrill Edge if you...

Want bank of america customers focused features

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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.