Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare Chase You Invest Trade vs Merrill Edge.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Merrill Edge charges more than Chase You Invest Trade for placing regular stock trades ($6.95 and $2.95, respectively). For options trading, Chase You Invest Trade has a base fee of $N/A, and Merrill Edge a base fee of $6.95. Merrill Edge's per contract rate of $0.75 is less than Chase You Invest Trade which charges $N/A. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review
Next to commission rates, being able to trade what you want is important. Chase You Invest Trade provides its clients with Stock Trading and Mutual Funds while Merrill Edge provides clients access to Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Merrill Edge boasts an offering of 3688 mutual funds compared to Chase You Invest Trade's 2700 available funds. Commission free ETFs can also be valuable for customers, which in this case means trading a possible N/A commission free ETFs at both brokers.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Neither Chase You Invest Trade and Merrill Edge offer virtual trading. Taking a look at mobile trading, Chase You Invest Trade supports the iPhone App and Android App while Merrill Edge supports the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to customers of Chase You Invest Trade and Merrill Edge. On the whole, when it comes to tools, research, and mobile trading, neither Chase You Invest Trade nor Merrill Edge were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Merrill Edge comes out on top with 4.50 stars over Chase You Invest Trade's 3.00 stars.