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Merrill Edge vs TD Ameritrade 2024

StockBrokers.com

Written by StockBrokers.com

January 31, 2024

Is Merrill Edge better than TD Ameritrade? After testing 18 of the best online brokers, our analysis finds that Merrill Edge (94.0%) is better than TD Ameritrade (N/A). Merrill Edge and its parent, Bank of America, make for a well-rounded offering, with $0 trades, robust research, reliable customer service; and its Stock Stories and Fund Stories are an industry standout. There are some gaps in investment offerings, including crypto and futures.

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Compare

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Overall Rating Merrill Edge TD Ameritrade
Overall 4.5/5 Stars 5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 5/5 Stars
Platforms & Tools 4.5/5 Stars 5/5 Stars
Mobile Trading Apps 5/5 Stars 5/5 Stars
Research 5/5 Stars 5/5 Stars
Customer Service 4.0/5 Stars 4.5/5 Stars
Education 5/5 Stars 5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review Merrill Edge Review TD Ameritrade Review
Broker Screenshots Merrill Edge TD Ameritrade
Trading Platform & Tools Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Trading Fees Merrill Edge TD Ameritrade
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) info N/A $6.95
Mutual Fund Trade Fee $19.95 Varies
Options (Per Contract) $0.65 $0.65
Futures (Per Contract) (Not offered) $2.25
Broker Assisted Trade Fee $29.95 $25
Margin Rates Merrill Edge TD Ameritrade
Margin Rate Under $25,000 Varies info 14.75% info
Margin Rate $25,000 to $49,999.99 Varies info 14.25%
Margin Rate $50,000 to $99,999.99 Varies info 13.25%
Margin Rate $100,000 to $249,999.99 Varies info 13%
Margin Rate $250,000 to $499,999.99 Varies info 12.75%
Margin Rate $500,000 to $999,999.99 Varies info Varies info
Margin Rate Above $1,000,000 Varies info Varies info
Account Fees Merrill Edge TD Ameritrade
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $49.95 $0.00
Account Transfer Out (Partial) info $0.00 $0.00
Account Transfer Out (Full) info $49.95 $75.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment Options Merrill Edge TD Ameritrade
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info No No
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 4
Futures Trading info No Yes
Forex Trading info No Yes
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Mutual Funds (No Load) info 2952 3698
Mutual Funds (Total) info 3466 5876
Bonds (US Treasury) info Yes Yes
Bonds (Corporate) info Yes Yes
Bonds (Municipal) info Yes Yes
Traditional IRAs info Yes No
Roth IRAs info Yes No
Advisor Services info Yes Yes
International Countries (Stocks) info 0 0
Order Types Merrill Edge TD Ameritrade
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes Yes
Order Type - OCO info No Yes
Order Type - OTO info No Yes
Order Type - Broker Assisted info Yes Yes
Beginners Merrill Edge TD Ameritrade
Education (Stocks) info Yes Yes
Education (ETFs) info Yes Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes Yes
Education (Bonds) info Yes Yes
Education (Retirement) info Yes Yes
Retirement Calculator info Yes Yes
Investor Dictionary info Yes Yes
Paper Trading info No Yes
Videos info Yes Yes
Webinars info Yes Yes
Webinars (Archived) info Yes Yes
Progress Tracking info No Yes
Interactive Learning - Quizzes info Yes Yes
Stock Trading Apps Merrill Edge TD Ameritrade
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info Yes Yes
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes Yes
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes Yes
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info No Yes
Stock App Features Merrill Edge TD Ameritrade
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No Yes
Videos on Demand info No Yes
Stock Alerts info Yes Yes
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes Yes
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info No Yes
Watch Lists - Total Fields info 285 514
Stock App Charting Merrill Edge TD Ameritrade
Charting - After-Hours info No Yes
Charting - Can Turn Horizontally info Yes Yes
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 34 400
Charting - Study Customizations info Yes Yes
Charting - Stock Comparisons info Yes Yes
Trading Platforms Merrill Edge TD Ameritrade
Active Trading Platform info Merrill Edge Market Pro thinkorswim
Desktop Trading Platform info No Yes
Desktop Platform (Mac) info No Yes
Web Trading Platform info Yes Yes
Paper Trading info No Yes
Trade Journal info No Yes
Watch Lists - Total Fields info 285 514
Stock Chart Features Merrill Edge TD Ameritrade
Charting - Adjust Trades on Chart info Yes Yes
Charting - Indicators / Studies info 104 429
Charting - Drawing Tools info 23 24
Charting - Notes info Yes Yes
Charting - Index Overlays info Yes Yes
Charting - Historical Trades info Yes Yes
Charting - Corporate Events info Yes Yes
Charting - Custom Date Range info Yes Yes
Charting - Custom Time Bars info Yes Yes
Charting - Automated Analysis info Yes Yes
Charting - Save Profiles info Yes Yes
Trade Ideas - Technical Analysis info Yes Yes
Charting - Study Customizations info 8 9
Charting - Custom Studies info No Yes
Day Trading Merrill Edge TD Ameritrade
Streaming Time & Sales info Yes Yes
Streaming TV info No Yes
Direct Market Routing - Stocks info No Yes
Ladder Trading info No Yes
Trade Hot Keys info No Yes
Level 2 Quotes - Stocks info Yes Yes
Trade Ideas - Backtesting info Yes Yes
Trade Ideas - Backtesting Adv info No Yes
Short Locator info No No
Order Liquidity Rebates info No No
Research Overview Merrill Edge TD Ameritrade
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes Yes
Research - Pink Sheets / OTCBB info Yes Yes
Research - Bonds info Yes Yes
Screener - Stocks info Yes Yes
Screener - ETFs info Yes Yes
Screener - Mutual Funds info Yes Yes
Screener - Bonds info Yes Yes
Misc - Portfolio Allocation info Yes Yes
Stock Research Merrill Edge TD Ameritrade
Stock Research - PDF Reports info 3 6
Stock Research - Earnings info Yes Yes
Stock Research - Insiders info Yes Yes
Stock Research - Social info No Yes
Stock Research - News info Yes Yes
Stock Research - ESG info Yes No
Stock Research - SEC Filings info Yes Yes
ETF Research Merrill Edge TD Ameritrade
ETFs - Strategy Overview info Yes Yes
ETF Fund Facts - Inception Date info Yes Yes
ETF Fund Facts - Expense Ratio info Yes Yes
ETF Fund Facts - Net Assets info Yes Yes
ETF Fund Facts - Total Holdings info Yes No
ETFs - Top 10 Holdings info Yes Yes
ETFs - Sector Exposure info Yes Yes
ETFs - Risk Analysis info Yes Yes
ETFs - Ratings info Yes Yes
ETFs - Morningstar StyleMap info Yes Yes
ETFs - PDF Reports info Yes Yes
Mutual Fund Research Merrill Edge TD Ameritrade
Mutual Funds - Strategy Overview info Yes Yes
Mutual Funds - Performance Chart info Yes Yes
Mutual Funds - Performance Analysis info Yes Yes
Mutual Funds - Prospectus info Yes Yes
Mutual Funds - 3rd Party Ratings info Yes Yes
Mutual Funds - Fees Breakdown info Yes Yes
Mutual Funds - Top 10 Holdings info Yes Yes
Mutual Funds - Asset Allocation info Yes Yes
Mutual Funds - Sector Allocation info Yes Yes
Mutual Funds - Country Allocation info Yes No
Mutual Funds - StyleMap info Yes Yes
Options Trading Merrill Edge TD Ameritrade
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes Yes
Option Chains - Streaming info Yes Yes
Option Chains - Total Columns info 68 35
Option Chains - Greeks info 5 5
Option Chains - Quick Analysis info Yes Yes
Option Analysis - P&L Charts info Yes Yes
Option Probability Analysis info Yes Yes
Option Probability Analysis Adv info No Yes
Option Positions - Greeks info Yes Yes
Option Positions - Greeks Streaming info Yes Yes
Option Positions - Adv Analysis info Yes Yes
Option Positions - Rolling info Yes Yes
Option Positions - Grouping info Yes Yes
Banking Merrill Edge TD Ameritrade
Bank (Member FDIC) info Yes No
Checking Accounts info Yes Yes
Savings Accounts info Yes No
Credit Cards info Yes Yes
Debit Cards info Yes Yes
Mortgage Loans info Yes No
Customer Service Merrill Edge TD Ameritrade
Phone Support (Prospect Customers) info No Yes
Phone Support (Current Customers) info Yes Yes
Email Support info No Yes
Live Chat (Prospect Customers) info Yes Yes
Live Chat (Current Customers) info Yes Yes
24/7 Support info Yes Yes
Overall Merrill Edge TD Ameritrade
Overall 4.5/5 Stars 5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 5/5 Stars
Platforms & Tools 4.5/5 Stars 5/5 Stars
Mobile Trading Apps 5/5 Stars 5/5 Stars
Research 5/5 Stars 5/5 Stars
Education 5/5 Stars 5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review Merrill Edge Review TD Ameritrade Review
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Merrill Edge vs TD Ameritrade Comparison

Comparing brokers side by side is no easy task. We spend hundreds of hours each year testing the platforms, mobile apps, trading tools and general ease of use among online brokerages, as well as comparing commissions and fees, to find the best online broker.

Though many U.S. brokers offer basic trading features, such as an app, charting tools, stock research and educational content, the depth of those features can vary widely. Let's compare Merrill Edge vs TD Ameritrade.

Is Merrill Edge or TD Ameritrade better for beginners?

In stock trading, the more you know, the better you’ll do. Taking advantage of resources like articles, webinars, videos and interactive elements is a great way to shorten the learning curve. In our analysis, we examine the availability of several different types of educational materials.

For 2024, our review finds that Merrill Edge offers more comprehensive new investor education for beginning investors than TD Ameritrade. Merrill Edge offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while TD Ameritrade offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement).

What about Merrill Edge vs TD Ameritrade pricing?

Merrill Edge and TD Ameritrade charge the same amount for regular stock trades, $0.00. Merrill Edge and TD Ameritrade both charge $0.65 per option contract. For futures, TD Ameritrade charges $2.25 per contract and Merrill Edge charges (Not offered) per contract. For a deeper dive, see our best brokers for free stock trading or options trading guides

Does Merrill Edge or TD Ameritrade offer a wider range of investment options?

Looking at a full range of investment options, including order types and international trading, our research has found that Merrill Edge offers a more comprehensive offering than TD Ameritrade. Merrill Edge ranks #7 out of 18 brokers for our Investment Options category, while TD Ameritrade ranks #N/A.

Merrill Edge offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Advisor Services, while TD Ameritrade offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds, Futures Trading, Forex Trading and Advisor Services. Neither have Fractional Shares Looking at Mutual Funds, Merrill Edge trails TD Ameritrade in its offering of no transaction fee (NTF) mutual funds, with TD Ameritrade offering 3610 and Merrill Edge offering 3095.

Do Merrill Edge and TD Ameritrade offer cryptocurrency?

In our analysis of top U.S. brokerages, we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum. Though crypto has risen steadily in popularity, availability still varies from broker to broker. Our review finds that neither Merrill Edge and TD Ameritrade offer crypto trading.

Which trading platform is better: Merrill Edge or TD Ameritrade?

To compare the day trading platforms of Merrill Edge and TD Ameritrade, we focused on trading tools and functionality across both web and desktop-based platforms. Popular day trading platform tools include streaming real-time quotes, stock alerts, trading hotkeys, direct market routing, streaming time and sales, customizable watch lists, backtesting, and fully functional charting packages, among many others. For day trading, Merrill Edge offers a better experience.

Does Merrill Edge or TD Ameritrade offer a better stock trading app?

After testing 25 features across the stock trading apps of Merrill Edge and TD Ameritrade, we found Merrill Edge to be better overall. The best stock market apps are easy to use, have excellent design, and deliver a fully featured online trading experience. Merrill Edge ranks #5 out of 18 brokers, while TD Ameritrade ranks #N/A.

Merrill Edge Trading App Gallery

TD Ameritrade Trading App Gallery

Which broker is better for researching stocks?

For research, Merrill Edge offers superior market research than TD Ameritrade. Merrill Edge ranks #4 and TD Ameritrade ranks #N/A.

Over the years, we've found that the best brokers provide rich market commentary, a variety of third-party research reports, and thorough quote screens that are not just easy to navigate, but that also include a comprehensive selection of fundamental data. Robust stock, ETFs, and mutual fund screeners are also must-haves for trade idea generation.

How do Merrill Edge and TD Ameritrade compare in terms of minimum deposit required?

Merrill Edge requires a minimum deposit of $0.00, while TD Ameritrade requires a minimum deposit of $0.00. From our testing, we found that SoFi is the only broker that requires a minimum deposit.

Which broker offers better margin rates for accounts under $25,000?

Merrill Edge charges Varies for accounts under $25,000 while TD Ameritrade charges a margin rate of 14.75%. The industry average of the 18 brokers we track is 9%.

Does Merrill Edge offer fractional shares? Does TD Ameritrade?

Fractional shares are not offered by either broker. Our research has found that 39% of brokers offer fractional shares investing. Fractional shares allow traders to buy a part of a whole share of stock. For example, if Amazon is trading at $1,000, you could buy half a share for $500.

Can you trade penny stocks with Merrill Edge or TD Ameritrade?

Both Merrill Edge and TD Ameritrade allow you to trade penny stocks. Merrill Edge charges N/A per trade while TD Ameritrade charges $6.95. Penny stocks are companies whose shares trade for under $5 and are listed over the counter (OTC). For brokers that do offer penny stock trades, the average commission is $3.

Does either broker offer banking?

Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Merrill Edge while TD Ameritrade offers Checking Accounts, Debit Cards and Credit Cards.

Which broker offers stronger customer service?

StockBrokers.com partners with customer experience research group Confero to conduct phone tests from locations across the United States to thoroughly evaluate the quality and speed of brokerage customer service. (Read more about How We Test.) Here are the results of our current testing.

Merrill Edge was rated 2nd out of 13 brokers, with an overall score of 9.3 out of 10.

TD Ameritrade was rated 1st out of 14 brokers, with an overall score of 9.3 out of 10.

Is Merrill Edge good?

Merrill Edge and its parent, Bank of America, make for a well-rounded offering, with $0 trades, robust research, reliable customer service; and its Stock Stories and Fund Stories are an industry standout. There are some gaps in investment offerings, including crypto and futures.

In the 2024 StockBrokers.com Annual Awards, Merrill Edge was rated No. 1 for Bank Brokerage, Overall Client Experience, and Client Dashboard. It placed among Best in Class for Research, Platforms & Tools, Mobile Trading Apps, Education, Ease of Use, Beginners, Customer Service, IRA Accounts, Options Trading, High Net Worth Investors and Overall.

Is TD Ameritrade good?

TD Ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners and reliable customer service, making it one of our top overall brokers in 2023. Note, however, that TD Ameritrade was acquired in 2020 by Charles Schwab and TD Ameritrade client accounts are currently being migrated in batches to Schwab, which has retained the standout thinkorswim platform.

In the 2023 StockBrokers.com Annual Review, TD Ameritrade was rated No. 1 for Platforms & Tools, Mobile Trading Apps, Ease of Use, Beginners, and Customer Service. It also ranked among Best in Class for Commissions & Fees, Research, Investment Options, Education, Active Trading and Overall. TD Ameritrade also won two StockBrokers.com Industry Awards: No. 1 for Phone Support and Trader App.

Merrill Edge vs TD Ameritrade Winner

Overall winner: Merrill Edge

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