Charles Schwab vs Merrill Edge Review
The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.
Is Charles Schwab better than Merrill Edge? Based on over 4,000 data points from our 2019 annual broker review, Charles Schwab (84.06%) is better than Merrill Edge (77.93%). For those seeking access to low costs, excellent research, quality trade tools, and professional planning for the future, Charles Schwab will not disappoint.
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Merrill Edge charges more than Charles Schwab for placing regular stock trades ($6.95 and $4.95, respectively). With options, the base fees charged are $6.95 (Merrill Edge) and $4.95 (Charles Schwab). Each option contract then costs $0.75 at Merrill Edge and $0.65 at Charles Schwab. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews.
For our next comparison of these two brokers, being able to trade the way you want is a must. Merrill Edge supports Stock Trading, Options Trading and Mutual Funds while Charles Schwab supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Merrill Edge trails Charles Schwab by 2,137 total mutual funds, with Charles Schwab offering 5846 and Merrill Edge offering 3709.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Charles Schwab nor Merrill Edge offers virtual trading. For mobile trading, Both Charles Schwab and Merrill Edge offer clients access to an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are found at Charles Schwab alongside Merrill Edge.
Overall, between Charles Schwab and Merrill Edge, Charles Schwab is the winner.
Charles Schwab Review
Merrill Edge Review
All pricing data was obtained from a published web site as of 02/18/2019 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.