Charles Schwab vs Merrill Edge Comparison
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 offers more comprehensive new investor education for beginner investors than Charles Schwab. Both Charles Schwab and Merrill Edge offer Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), neither have Paper Trading.
What about Charles Schwab vs Merrill Edge pricing?
Charles Schwab and Merrill Edge charge the same amount for regular stock trades, $0.00. Charles Schwab and Merrill Edge both charge $0.65 per option contract. For a complete commissions summary, see our best brokers for free stock trading guide.
Does Charles Schwab or Merrill Edge offer a wider range of investment options?
Charles Schwab offers investors access to Stock Trading, Fractional Shares, Options Trading, OTCBB / Pink Sheets, Mutual Funds, Futures Trading and Advisor Services, while Merrill Edge offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds 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 4294 and Merrill Edge offering 3095.
Which trading platform is better: Charles Schwab or Merrill Edge?
To compare the trading platforms of 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 available to customers of Charles Schwab and Merrill Edge.
Is Charles Schwab good?
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.
Is Merrill Edge good?
Merrill Edge offers $0 trades with industry-leading research tools — especially for ESG research — and excellent customer service. Better yet, the Preferred Rewards program at Bank of America, Merrill Edge’s parent, offers the best rewards of any bank broker we tested in 2022.
Charles Schwab vs Merrill Edge Winner
Overall winner: Charles Schwab
Explore our other online trading guides: