SoFi Invest vs Merrill Edge 2026: Which Broker is Better?
Choosing between SoFi Invest and Merrill Edge depends on your trading style, preferred markets, and budget. SoFi Invest is headquartered in San Francisco, USA, while Merrill Edge operates from Charlotte, USA. Merrill Edge has the longer track record, established in 2010, compared to SoFi Invest which was founded in 2012. This in-depth comparison covers regulation, fees, platforms, markets, and overall ratings to help you decide which broker is the better fit in 2026.
SoFi Invest
Merrill Edge
| SoFi Invest | Merrill Edge | |
|---|---|---|
| BrokerRank Score | 3.3/5 ✓ | 3.2/5 |
| Min. Deposit | $1 | $0 ✓ |
| Spread from | 0 pips | 0 pips |
| Max Leverage | 1:1 | 1:2 ✓ |
| Regulation | SEC | SEC |
| Platforms | Proprietary Web, Proprietary Mobile | Proprietary Web, Proprietary Mobile |
SoFi Invest is the better choice overall, scoring 3.3/5 vs 3.2/5 on BrokerRank's independent rating. On fees, SoFi Invest offers lower spreads (0 pips).
See full side-by-side comparison belowSoFi Invest vs Merrill Edge: Key Differences
SoFi Invest
Merrill Edge
Still deciding between SoFi Invest and Merrill Edge?
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Fees Comparison
SoFi Invest
Merrill Edge
Regulation & Trust
SoFi Invest holds licences from SEC. Merrill Edge is regulated by SEC.
Markets & Assets
Both brokers offer access to Stocks, Indices markets. SoFi Invest additionally covers Crypto.
Trading Platforms
SoFi Invest supports Proprietary Web, Proprietary Mobile. Merrill Edge offers Proprietary Web, Proprietary Mobile. Both brokers are available on Proprietary Web, Proprietary Mobile.
Minimum Deposit
SoFi Invest requires a minimum deposit of $1, while Merrill Edge sets no minimum deposit. This makes Merrill Edge accessible to traders with any budget.
Overall Ratings
BrokerRank scores SoFi Invest at 3.33/5 and Merrill Edge at 3.19/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. SoFi Invest leads overall with a clear advantage.
BrokerRank Verdict
Who Should Choose Which?
SoFi Invest
3.3/5
Choose SoFi Invest if you want…
- Higher overall rating (3.3/5)
- More market types (3)
Merrill Edge
3.2/5
Choose Merrill Edge if you want…
- No minimum deposit
- Higher leverage (up to 1:2)
- More established (est. 2010)
Also consider
We earn a commission when you open an account through these links, at no extra cost to you. Our ratings are scored independently — see the full independent ranking.
Both SoFi Invest & Merrill Edge are available in
Frequently Asked Questions
1Is SoFi Invest better than Merrill Edge?
SoFi Invest scores higher overall on our independent rating system. SoFi Invest holds a 3.3/5 rating vs Merrill Edge's 3.2/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
2Which has lower fees, SoFi Invest or Merrill Edge?
SoFi Invest offers spreads from 0 pips, while Merrill Edge starts at 0 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for SoFi Invest vs Merrill Edge?
SoFi Invest requires a minimum deposit of $1. Merrill Edge requires $0.
4Which broker is safer, SoFi Invest or Merrill Edge?
SoFi Invest is regulated by SEC, while Merrill Edge holds licences from SEC.
5What trading platforms do SoFi Invest and Merrill Edge support?
SoFi Invest supports Proprietary Web, Proprietary Mobile. Merrill Edge supports Proprietary Web, Proprietary Mobile.
6Can I use both SoFi Invest and Merrill Edge?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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