I can recommend Ally Invest, never had a problem except you're not able to sell specific tax lots there (that was my reason to switch). You always have to call! I would not recommend switching to Merrill Edge based on my experience. For Merrill Edge there is no help chat or messages you can send. For Ally Invest, I reached someone immediately and he was able to help. Merrill Edge offers options trading with 0 commission fees for online trades and 0. The difference in service between Ally Invest and Merrill Edge was day and night: - For Merrill Edge it takes some minutes until you get connected with an associate, and they start with the same BS every time ("Thank you for being a loyal customer blah blah."). Eventually, I reached out to Ally Invest again and they were able to provide the cost basis documentation from their side. I called at least ten times without any progress. Overall, Merrill Edge represents a worthwhile option for investors looking for a trading. However, this is a non-issue for investors who don’t plan to trade on margin. Because Merrill Edge is a subsidiary of Bank of America, it doesn’t have its own page on the Better Business Bureau’s website. Merrill also was slightly worse than average when it came to margin rates, with its rate for a 25,000 margin balance coming in half a percent higher than the overall average. But reviewers on Trustpilot and the Better Business Bureau (BBB) aren’t as happy with the platform. contacting the clearing firm APEX (as advised by Ally Invest service associates), they just played dumb and left me alone with the problem, saying they couldn't do anything (which is BS). As of March 2022, Merrill Edge gets high praises on its mobile apps. The service associates on the Merrill Edge side were completely useless! Instead of investigating the problem, e.g. I contacted both Ally Invest and Merrill Edge, nobody was able to figure out what went wrong. I transferred my brokerage account from Ally Invest to Merrill Edge and the cost basis did not get transferred. Naturally, you will get ban/violation for 90 days, for having done nothing wrong! If you attempt to contact them, they will insist this is not the case, and isn't happening, when it is happening. They are either too stupid or too belligerent to accept that they are causing these violations, where none should be. Merrill has at these times removed your money to their Cash Sweep program where they make money from your money, and they will not even listen to you trying to point out to them that you did not want this, and there should in fact be thousands of settled dollars in your account. When there SHOULD BE enough money in your account to make Day Trades, you will find yourself being warned about Free Riding Violations, when should have had settled money in the account. Merrill Edge's cash sweep program is not only pathetic, since you won't make any money from it while they remove your funds from the account, BUT more importantly it will cause trading violations on your account. Merrill Edge's cash sweep program is PATHETIC
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