Merrill Edge vs Charles Schwab Comparison
Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Merrill Edge vs Charles Schwab.
Is Merrill Edge or Charles Schwab better for beginners?
Merrill Edge offers more comprehensive new investor education for beginner investors than Charles Schwab. Merrill Edge offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while Charles Schwab offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement). Neither have Paper Trading. See our guide to Best Paper Trading Platforms for more.
What about Merrill Edge vs Charles Schwab pricing?
Merrill Edge and Charles Schwab charge the same amount for regular stock trades, $0.00. Merrill Edge and Charles Schwab both charge $0.65 per option contract. For a complete commissions summary, see our best brokers for free stock trading guide.
Does Merrill Edge or Charles Schwab offer a wider range of investment options?
Merrill Edge offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Advisor Services, while Charles Schwab offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks, Mutual Funds, Futures Trading and Advisor Services. Neither have Forex Trading. Looking at Mutual Funds, Merrill Edge trails Charles Schwab in its offering of no transaction fee (NTF) mutual funds, with Charles Schwab offering 7168 and Merrill Edge offering 3095.
Which trading platform is better: Merrill Edge or Charles Schwab?
To compare the trading platforms of Merrill Edge and Charles Schwab, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Charles Schwab offers a better experience. With research, Charles Schwab offers superior market research. Finally, we found Merrill Edge to provide better mobile trading apps.
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 available to customers of Merrill Edge and Charles Schwab.
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.
Is Charles Schwab good?
As the granddaddy of discount brokers, Charles Schwab understands how to deliver value to its customers, providing a comprehensive roster of tools, advice and actionable ideas at reasonable cost.
Merrill Edge vs Charles Schwab Winner
Overall winner: Merrill Edge
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