Platform Comparison

Merrill Edge vs WellsTrade

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

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
WF

WellsTrade

★3.8

WellsTrade is Wells Fargo's self-directed brokerage (not the advisor-led Wells Fargo Advisors) for existing customers who want banking and investing under one roof—basic but functional.

Full Review

Merrill Edge vs WellsTrade: Fees, Minimums & DRIP Compared

FeatureMerrill EdgeWellsTrade
Our Rating4.5/53.8/5
Trading Commissions$0$0
Account Minimum$0$0
Fractional SharesDRIP onlyYes (min $10)
DRIPFreeFree
Research ToolsGoodBasic
Best ForBank of America CustomersWells Fargo Banking Customers

Merrill Edge vs WellsTrade: Pros and Cons

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

WellsTrade

Pros

  • + Commission-free online stock and ETF trades
  • + Free dividend reinvestment with per-security selection
  • + Fractional shares through Stock Fractions program (min $10)
  • + Integration with Wells Fargo banking accounts
  • + No management fees for self-directed accounts

Cons

  • - Very basic investing platform with limited tools
  • - High margin rates (8.5%-12.5%)
  • - No pre-market trading available
  • - Limited after-hours trading (mobile only, until 6:30 PM)

Which Is Better for Dividend Investors: Merrill Edge or WellsTrade?

Choose Merrill Edge if you...

  • Are in Merrill Edge's core audience: bank of america customers
  • Prefer a higher-rated overall platform

Choose WellsTrade if you...

  • Are in WellsTrade's core audience: wells fargo banking customers

Want the full breakdown of fees, DRIP, and research tools? Read our Merrill Edge review and WellsTrade 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.