Citi Self Invest is a personal investment account provider that was set up in 2021 from within Citigroup Inc's personal wealth management umbrella. The company is dedicated to providing retail traders with simple, effective tools and facilities to achieve long-term financial goals through investments in the financial markets. Citi Self Invest is regulated by the SEC.
Merrill Edge is a subsidiary of Bank of America and has been operating as an investment advisory firm since 2010. The firm offers a range of investment products spanning stocks, ETFs, bonds, funds and options via its trading platform, MarketPro. Merrill Edge is regulated by the SEC and FINRA in the US and offers its services to US clients only.
$600 Transfer Bonus
Comment by Reviewer
"We think Citi Self Invest is great for anyone looking to make long term investments for large-scale capital growth or passive income generation."
"Based on my assessment, I recommend Merrill Edge to US traders looking for investment and savings accounts at a reputable and highly regulated stock broker. It's also a great choice if you want to pay zero commissions on US stocks and ETFs."
Easy to manage, move and transfer funds between Citi banking accounts
No minimum balance requirement for the Self Invest profile
Regulated by SEC with SIPC membership
Self invest or managed account options
Commission-free trading available
New investment account bonuses
Simple and sleek mobile app
ESG investing solutions
In-built Learning Center
Overall, I think the MarketPro platform offers everything you need to trade US stocks, with access to advanced tools and indicators at no extra cost. I like that the platform can be fully customized too, with up to 25 saveable layouts
For those who are comfortable trading independently, I’m pleased to report that the broker’s self-directed account has no account fees or minimum balance requirements
It’s good to see that traders can access unlimited zero-commission stocks and options, making Merrill Edge a relatively low-cost broker for US clients
I feel very reassured that Merrill Edge is a highly established and well-regulated broker and I’m confident that clients can trade with peace of mind
I found an excellent range of investment options during my tests, covering a range of goals including retirement, healthcare or college savings
As an institution backed by the Bank of America, I’m pleased that the broker is able to offer margin in excess of $100,000 to traders
Deposits and withdrawals via bank wire transfer only
No forex, futures, or crypto trading instruments
Leveraged trading not available
No demo account
US clients only
I found that the guided investment account comes with fairly high account management fees compared to others in the market. Even with the full 0.15% discount for holding over $100,000 in assets, I think this fee is still higher than competitors
I noted that transactions both to and from a Merrill Edge brokerage account cannot be made by credit or debit card, nor e-wallets. Traders are limited to bank wire transfers or cheque payments instead
It’s worth mentioning that traders looking to trade forex or cryptocurrencies should look elsewhere, as Merrill Edge only offers securities
I think it’s a shame that only US citizens are accepted at Merrill Edge, though this is common at US brokerages