Is Charles Schwab better than Merrill Edge? After testing 15 of the best online brokers over six months, Charles Schwab (89.63%) is better than Merrill Edge (84.89%). With nearly $8 trillion in client assets, Charles Schwab understands how to consistently deliver value to its customers. Highlights include $0 trades, excellent stock research, a diverse selection of trading tools, and an industry-leading offering of financial planning services
Charles Schwab vs Merrill Edge 2022
![]() |
![]() |
|
|
SPECIAL OFFER
Get up to $600 when you invest in a new Merrill Edge Self-Directed account.
|
|
Visit Site > | Visit Site > |
Overall Rating
Feature | Charles Schwab | Merrill Edge |
Overall | ||
Commissions & Fees | ||
Offering of Investments | ||
Platforms & Tools | ||
Mobile Trading Apps | ||
Research | ||
Education | ||
Ease of Use | ||
Charles Schwab Review | Merrill Edge Review | |
Winner | check_circle |
Trading Fees
Feature | Charles Schwab | Merrill Edge |
Minimum Deposit | $0.00 | $0.00 |
Stock Trades | $0.00 | $0.00 |
ETF Trade Fee | $0.00 | $0.00 |
Mutual Fund Trade Fee | $49.95 | $19.95 |
Options (Base Fee) | $0.00 | $0.00 |
Options (Per Contract) | $0.65 | $0.65 |
Futures (Per Contract) | $2.25 | N/A |
Broker Assisted Trade Fee | $25.00 | $29.95 |
Margin Rates
Feature | Charles Schwab | Merrill Edge |
Under $24,999.99 | 8.33% | 8.63% |
$25,000.00 to $49,999.99 | 7.83% | 7.50% |
$50,000.00 to $99,999.99 | 6.88% | 7.50% |
$100,000.00 to $249,999.99 | 6.83% | N/A |
$250,000.00 to $499,999.99 | 6.58% | N/A |
$500,000.00 to $999,999.99 | 5.08% | N/A |
Above $1,000,000.00 | 4.75% | N/A |
Account Fees
Feature | Charles Schwab | Merrill Edge |
IRA Annual Fee | $0.00 | $0.00 |
IRA Closure Fee | $0.00 | $49.95 |
Account Transfer Out (Partial) |
$25.00 | $0.00 |
Account Transfer Out (Full) |
$50.00 | $49.95 |
Investment Options
Feature | Charles Schwab | Merrill Edge |
Stock Trading |
Yes | Yes |
Fractional Shares |
Yes | No |
OTCBB / Pink Sheets |
Yes | Yes |
Options Trading |
Yes | Yes |
Complex Options Max Legs |
4 | 4 |
Futures Trading |
Yes | No |
Forex Trading |
No | No |
Crypto Trading |
No | No |
Crypto Trading - Total Coins |
0 | 0 |
Mutual Funds (No Load) |
7537 | 2952 |
Mutual Funds (Total) |
10228 | 3466 |
Bonds (US Treasury) |
Yes | Yes |
Bonds (Corporate) |
Yes | Yes |
Bonds (Municipal) |
Yes | Yes |
Advisor Services |
Yes | Yes |
International Trading |
Yes | No |
Order Types
Feature | Charles Schwab | Merrill Edge |
Order Type - Market |
Yes | Yes |
Order Type - Limit |
Yes | Yes |
Order Type - After-Hours |
Yes | Yes |
Order Type - Stop |
Yes | Yes |
Order Type - Trailing Stop |
Yes | Yes |
Order Type - OCO |
Yes | No |
Order Type - OTO |
Yes | No |
Order Type - Broker Assisted |
Yes | Yes |
Beginners
Feature | Charles Schwab | Merrill Edge |
Education (Stocks) |
Yes | Yes |
Education (ETFs) |
Yes | Yes |
Education (Options) |
Yes | Yes |
Education (Mutual Funds) |
Yes | Yes |
Education (Bonds) |
Yes | Yes |
Education (Retirement) |
Yes | Yes |
Retirement Calculator |
Yes | Yes |
Investor Dictionary |
Yes | Yes |
Paper Trading |
No | No |
Videos |
Yes | Yes |
Webinars (Monthly Avg) |
100 | 1 |
Webinars (Archived) |
Yes | Yes |
Progress Tracking |
No | No |
Interactive Learning - Quizzes |
No | Yes |
Stock Trading Apps
Feature | Charles Schwab | Merrill Edge |
iPhone App |
Yes | Yes |
Android App |
Yes | Yes |
Apple Watch App |
Yes | Yes |
Trading - Stocks |
Yes | Yes |
Trading - After-Hours |
Yes | Yes |
Trading - Simple Options |
Yes | Yes |
Trading - Complex Options |
Yes | Yes |
Order Ticket RT Quotes |
Yes | Yes |
Order Ticket SRT Quotes |
No | No |
Stock App Features
Feature | Charles Schwab | Merrill Edge |
Market Movers (Top Gainers) |
Yes | Yes |
Stream Live TV |
Yes | No |
Videos on Demand |
Yes | No |
Stock Alerts |
No | Yes |
Option Chains Viewable |
Yes | Yes |
Watch List (Real-time) |
Yes | Yes |
Watch List (Streaming) |
No | Yes |
Watch Lists - Create & Manage |
Yes | Yes |
Watch Lists - Column Customization |
No | No |
Watch List - Column Filtering |
No | Yes |
Stock App Charting
Feature | Charles Schwab | Merrill Edge |
Charting - After-Hours |
No | No |
Charting - Can Turn Horizontally |
Yes | Yes |
Charting - Multiple Time Frames |
Yes | Yes |
Charting - Technical Studies |
32 | 34 |
Charting - Study Customizations |
Yes | Yes |
Charting - Stock Comparisons |
Yes | Yes |
Trading Platforms
Feature | Charles Schwab | Merrill Edge |
Desktop Trading Platform |
Yes | Yes |
Web Trading Platform |
Yes | Yes |
Paper Trading |
No | No |
Trade Journal |
Yes | No |
Watch Lists - Total Fields |
130 | 285 |
Stock Chart Features
Feature | Charles Schwab | Merrill Edge |
Charting - Adjust Trades on Chart |
Yes | Yes |
Charting - Indicators / Studies |
41 | 104 |
Charting - Drawing Tools |
15 | 22 |
Charting - Notes |
Yes | Yes |
Charting - Index Overlays |
Yes | Yes |
Charting - Historical Trades |
No | Yes |
Charting - Corporate Events |
Yes | Yes |
Charting - Custom Date Range |
Yes | Yes |
Charting - Custom Time Bars |
Yes | Yes |
Charting - Automated Analysis |
Yes | Yes |
Charting - Save Profiles |
Yes | Yes |
Trade Ideas - Technical Analysis |
Yes | Yes |
Charting - Study Customizations |
7 | 8 |
Charting - Custom Studies |
No | No |
Day Trading
Feature | Charles Schwab | Merrill Edge |
Streaming Time & Sales |
Yes | Yes |
Streaming TV |
Yes | No |
Direct Market Routing - Stocks |
Yes | No |
Ladder Trading |
No | No |
Trade Hot Keys |
Yes | No |
Level 2 Quotes - Stocks |
Yes | Yes |
Trade Ideas - Backtesting |
Yes | Yes |
Trade Ideas - Backtesting Adv |
No | No |
Short Locator |
Yes | No |
Order Liquidity Rebates |
No | No |
Research Overview
Feature | Charles Schwab | Merrill Edge |
Research - Stocks |
Yes | Yes |
Research - ETFs |
Yes | Yes |
Research - Mutual Funds |
Yes | Yes |
Research - Pink Sheets / OTCBB |
Yes | Yes |
Research - Bonds |
Yes | Yes |
Screener - Stocks |
Yes | Yes |
Screener - ETFs |
Yes | Yes |
Screener - Mutual Funds |
Yes | Yes |
Screener - Options |
Yes | Yes |
Screener - Bonds |
Yes | Yes |
Misc - Portfolio Allocation |
Yes | Yes |
Stock Research
Feature | Charles Schwab | Merrill Edge |
Stock Research - PDF Reports |
8 | 3 |
Stock Research - Earnings |
Yes | Yes |
Stock Research - Insiders |
Yes | Yes |
Stock Research - SEC Filings |
Yes | Yes |
Stock Research - Social |
Yes | No |
Stock Research - Balance Sheet |
Yes | Yes |
Stock Research - Cash Flows |
Yes | Yes |
Stock Research - News |
Yes | Yes |
Stock Research - ESG |
No | Yes |
ETF Research
Feature | Charles Schwab | Merrill Edge |
ETFs - Strategy Overview |
Yes | Yes |
ETF Fund Facts - Inception Date |
Yes | Yes |
ETF Fund Facts - Expense Ratio |
Yes | Yes |
ETF Fund Facts - Net Assets |
Yes | Yes |
ETF Fund Facts - Total Holdings |
Yes | Yes |
ETFs - Top 10 Holdings |
Yes | Yes |
ETFs - Performance Analysis |
Yes | Yes |
ETFs - Sector Exposure |
Yes | Yes |
ETFs - Risk Analysis |
Yes | Yes |
ETFs - Ratings |
Yes | Yes |
ETFs - Morningstar StyleMap |
Yes | Yes |
ETFs - PDF Reports |
Yes | Yes |
Mutual Fund Research
Feature | Charles Schwab | Merrill Edge |
Mutual Funds - Strategy Overview |
Yes | Yes |
Mutual Funds - Performance Chart |
Yes | Yes |
Mutual Funds - Performance Analysis |
Yes | Yes |
Mutual Funds - Prospectus |
Yes | Yes |
Mutual Funds - PDF Reports |
Yes | Yes |
Mutual Funds - Fees Breakdown |
Yes | Yes |
Mutual Funds - Top 10 Holdings |
Yes | Yes |
Mutual Funds - Asset Allocation |
Yes | Yes |
Mutual Funds - Sector Allocation |
Yes | Yes |
Mutual Funds - Country Allocation |
Yes | Yes |
Mutual Funds - StyleMap |
Yes | Yes |
Mutual Funds - 3rd Party Ratings |
Yes | Yes |
Options Trading
Feature | Charles Schwab | Merrill Edge |
Option Chains - Basic View |
Yes | Yes |
Option Chains - Strategy View |
Yes | Yes |
Option Chains - Streaming |
Yes | Yes |
Option Chains - Total Columns |
44 | 68 |
Option Chains - Greeks |
5 | 5 |
Option Positions - Greeks Streaming |
Yes | Yes |
Option Chains - Quick Analysis |
Yes | Yes |
Option Analysis - P&L Charts |
Yes | Yes |
Option Probability Analysis |
Yes | Yes |
Option Probability Analysis Adv |
Yes | No |
Option Positions - Greeks |
Yes | Yes |
Option Positions - Adv Analysis |
Yes | Yes |
Option Positions - Rolling |
Yes | Yes |
Option Positions - Grouping |
Yes | Yes |
Banking
Feature | Charles Schwab | Merrill Edge |
Bank (Member FDIC) |
Yes | Yes |
Checking Accounts |
Yes | Yes |
Savings Accounts |
Yes | Yes |
Credit Cards |
Yes | Yes |
Debit Cards |
Yes | Yes |
Mortgage Loans |
Yes | Yes |
Customer Service
Feature | Charles Schwab | Merrill Edge |
Phone Support (Prospect Customers) |
Yes | Yes |
Phone Support (Current Customers) |
Yes | Yes |
Email Support |
Yes | Yes |
Live Chat (Prospect Customers) |
No | Yes |
Live Chat (Current Customers) |
Yes | Yes |
24/7 Support |
Yes | Yes |
Overall
Feature | Charles Schwab | Merrill Edge |
Overall | ||
Commissions & Fees | ||
Offering of Investments | ||
Platforms & Tools | ||
Mobile Trading Apps | ||
Research | ||
Education | ||
Ease of Use | ||
Charles Schwab Review | Merrill Edge Review | |
Winner | check_circle |
Comparing brokers side by side is no easy task. For our 2022 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Charles Schwab vs Merrill Edge.
Is Charles Schwab or Merrill Edge better for beginners?
Merrill Edge is better 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).
What about Charles Schwab vs Merrill Edge pricing?
Charles Schwab and Merrill Edge both cost $0 per trade. For options trading, both Charles Schwab and Merrill Edge charge the same base fee of $0. Option contracts cost $0.65 each at both brokerages. For a complete commissions summary, see our best discount brokers guide.
Does Charles Schwab or Merrill Edge offer a wider range of investment options?
Charles Schwab offers a more diverse selection of investment options than Merrill Edge. Charles Schwab offers investors access to Stock Trading, Fractional Shares, OTCBB / Pink Sheets, Options Trading, Mutual Funds, Futures Trading, Advisor Services and International Trading. Looking at Mutual Funds, Charles Schwab offers its clients access to 10228 different mutual funds while Merrill Edge has 3466 available funds, a difference of 6,762.
Which trading platform is better: Charles Schwab or Merrill Edge?
To compare the trading platforms of both Charles Schwab and Merrill Edge, 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 Charles Schwab 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 found at Charles Schwab alongside Merrill Edge.
Overall winner: Charles Schwab
Read Next: Best Online Brokers 2021
Related Comparisons
- Charles Schwab vs. E*TRADE
- Charles Schwab vs. Fidelity
- Charles Schwab vs. Robinhood
- Charles Schwab vs. TD Ameritrade
- Merrill Edge vs. Fidelity
- Merrill Edge vs. Robinhood
- Merrill Edge vs. TD Ameritrade
All pricing data was obtained from a published web site as of 01/10/2022 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.