Sofi Active Investing vs Merrill Edge : Fees, Safety & Trading Conditions Compared (2026)

Broker Name

Sofi Active Investing

Merrill Edge

Broker Overview

Broker Type (e.g., Market Maker, ECN/STP)

Market maker

ECN broker

Years of Existence / Established Year

2019

2010

Customer Base / Number of Accounts

6.2+ Million

3.5+ Million Clients

Regulation & Security

Regulations (governing bodies)

SEC, FINRA

Awards Won (count for the last 2 years)

No major awards listed

Kiplinger 2023 Annual Broker Review, StockBrokers.com 2024 Annual Broker Review

Security Measures

SIPC

SSL Encryption / 2FA

Yes

Segregated Funds

Yes

Negative Balance Protection

Yes

Trading Instruments/Products Offered

Assets Types / Trading Instruments (total count and breakdown)

IPO, IRA, Shares

CDs, Fixed income

Currency Pairs

Commodities

Indices

Cryptocurrencies

Yes

CFDs

ETFs

Yes

Stocks

Yes

Options

Yes

Futures

Bonds

Yes

Mutual Funds

Yes

Fractional Shares

Yes

Exchange Traded Notes (ETNs)

Precious Metals

Real Estate Investment Trusts (REITs)

Equities

Trading Platforms & Technology

Trading Platform Availability

Yes

MT4

MT5

cTrader

Social Trading

Copy Trading

Other Trading Platforms (proprietary, etc.)

Mobile and Web app

Merrill Edge MarketPro (proprietary), Merrill Edge Self-Directed platform (web-based), Mobile app (Merrill Edge)

Platform Compatibility (Windows, Mac, iOS, Android)

Yes

Account Types & Conditions

Account Types (Retail, Pro, VIP, etc.)

Individual brokerage, IRA (Traditional, Roth, SEP)

Individual, Joint, Custodial, Trust, and Retirement (IRA), 529 plans

Demo Account (Yes/No)

Yes

Islamic Accounts (Yes/No)

Minimum Deposit

Leverage Available

Trade Limit (maximum per trade)

Account Equity < $25,000: No Day Trades

Depends on asset class

Commission (per account type)

Best Suited For (e.g., beginners, experienced traders)

Passive investors

Beginners to intermediate traders

Deposit & Withdrawal Options

Deposit Methods

Bank transfers (ACH), direct deposit from linked bank accounts

ACH transfer, wire transfer, check deposit, transfers from Bank of America

Withdrawal Methods

ACH transfer back to linked bank accounts

ACH transfer, wire transfer, check deposit, transfers from Bank of America

Other E-Wallets Supported

Tools & Educational Resources

Economic Calendar

Yes

Tools & Educational Resources (tutorials, webinars, market news, etc.)

Learn (Investing Education), Market Insights and Analysis, Webinars, Investing Guides, Financial Planning Tools, Sofi Insights (Market News)

Investing Education, Retirement Planning, Market Insights, Webinars and Online Seminars, Investment Guides and Tools

Fees & Commissions

Trading-Related Fees

Stocks, ETFs-$0,Commission -$0

Commission- $0 stock and ETFs, broker-assisted trade- $29.95 or $29.95 * + $0.65 per contract

Spread (typical, fixed, variable)

Per Lot Fees

Options Contract Fees

$0- $5

$0.65 per contact

Futures Contract Fees

Markup Fees on Spread

Guaranteed Stop Loss Fees

Maximum Leverage

Non-Trading Fees

Dormant Fees

$25

Subscription Fees (for premium features, data feeds)

Advisory Fees

Depending on assets type, Professional charges- 1% , annual advisory fees as low as 0.25%

0.85%

Swap Fees (Overnight Financing)

Yes

Statement or Document Fee

$5 paper statement fee

Account Opening Fee

Account Maintenance Fee

Deposit Fee

Currency Conversion Fee

Varies for ADRs

Withdrawal Fee

Outgoing ACAT transfers $100

Wire transfer fee-$25

Bonuses, Promotions & Benefits

Bonuses, Promotions, and Referrals

Yes

Customer Benefits (e.g., Retirement Plan)

Yes

Trading Hours

Trading Hours (for each asset class if applicable)

Depends on the instrument offer

Pre-market trading: 7:00 AM to 9:30 AM ET, Regular trading hours: 9:30 AM to 4:00 PM ET, After-hours trading: 4:01 PM to 8:00 PM ET

Customer Support

Support Hours (e.g., 24/7, weekdays only)

Monday - Friday 5am-5pm PT

24/7

Customer Support Methods (phone, email, live chat)

Live chat, Phone: 855-456-7634, Virtual assistant

Phone: 888.637.3343, Schedule an appointment

Support Languages

Additional Information

Headquarters Location

San Francisco, California.

Charlotte, North Carolina, USA

Complaints (for crypto brokers)

At TradingCritique, we don't just list brokers. We test, compare, and simplify your decision-making. Whether you're a beginner or a pro, our data-driven comparisons are built to match your trading style and region. Learn how we Evaluate a broker.

If minimizing trading costs is your top priority, Sofi Active Investing might be more attractive due to its lower commissions. Meanwhile, Merrill Edge justifies its moderate fees with more robust tools and professional-grade features.

While Sofi Active Investing prioritizes fast registration with minimal steps, Merrill Edge focuses on a thorough vetting process that gives more flexibility in choosing account types and features.

If you're looking for platform speed and ease of execution, Sofi Active Investing delivers a smooth experience. Merrill Edge, however, is tailored toward traders who want deeper analysis tools and portfolio insights.

If you're after professional-grade platforms, Sofi Active Investing may be ideal. For casual investors, Merrill Edge offers a low-barrier entry.

Explore More Broker Matchups

Here are more Comparisons to help you choose wisely

Compare Sofi Active Investing and Cobra Trading

Compare Sofi Active Investing and GO Markets

Compare Sofi Active Investing and Questrade

Compare Firstrade and Cobra Trading

Compare Firstrade and City Index

Compare Firstrade and FP Markets

Our Latest Contents

Stay updated with our newest insights and guides!

Top Broker Reviews

Discover brokers trusted by global traders.

Select Your Brokers to Compare