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Merrill Edge vs ChoiceTrade 2020

Is ChoiceTrade better than Merrill Edge? After testing 15 of the best online brokers over five months, Merrill Edge (88.87%) is better than ChoiceTrade (62.57%). Backed by parent company Bank of America, Merrill Edge delivers $0 stock and ETF trades with fantastic research and customer service. Better yet, for current banking customers, Merrill Edge's Preferred Rewards program offers the best rewards benefits across the industry.

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Overall Rating

Feature Merrill Edge ChoiceTrade
Overall 4.5 3
Merrill Edge Review ChoiceTrade Review

Trading Fees

Feature Merrill Edge ChoiceTrade
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.65 $0.40
Mutual Fund Trade Fee $19.95 N/A
Broker Assisted Trades Fee $29.95 $30.00
Commissions & Fees 4.5 4.5
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Margin Rates

Feature Merrill Edge ChoiceTrade
Under $24,999.99 10.13% 7.75%
$25,000.00 to $49,999.99 9.00% 7.75%
$50,000.00 to $99,999.99 9.00% 7.75%
$100,000.00 to $249,999.99 7.63% 7.75%
$250,000.00 to $499,999.99 7.63% 7.75%
$500,000.00 to $999,999.99 7.38% 8.25%
Above $1,000,000.00 6.75% 8.25%
Commissions & Fees 4.5 4.5
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Account Fees

Feature Merrill Edge ChoiceTrade
IRA Annual Fee $0.00 $50.00
IRA Closure Fee $49.95 $50.00
Returned ACH Fee $30.00 $40.00
Returned Wire Fee N/A $40.00
Stock Certificate Processing Fee $500.00 N/A
Stock Certificate Delivery Fee N/A N/A
Paper Statement Fee $5.00 $5.00
Paper Confirmation Fee $3.00 $1.00
Domestic Wire Fee $24.95 $35.00
International Wire Fee $24.95 $60.00
Commissions & Fees 4.5 4.5

Investment Options

Feature Merrill Edge ChoiceTrade
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
2 4
Futures Trading
No No
Forex Trading
No No
Commission-Free ETFs all All
Mutual Funds (No Load)
2471 0
Mutual Funds (Total)
3709 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Interest Sharing
No No
Advisor Services
Yes No
International Trading
No No
Offering of Investments 3.5 2.5
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Order Types

Feature Merrill Edge ChoiceTrade
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
No Yes
Order Type - MultiContingent
No Yes
Order Type - OCO
No No
Order Type - OTO
No No
Order Type - OTOCO
No No
Offering of Investments 3.5 2.5
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Trading Platforms

Feature Merrill Edge ChoiceTrade
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
Yes Yes
Web Platform
Yes Yes
Paper Trading
No Yes
Trade Journal
No No
Watch Lists - Total Fields
285 19
Heat Mapping
Yes Yes
AI Assistant Bot
No No
Platforms & Tools 4 3
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Charting Features

Feature Merrill Edge ChoiceTrade
Charting - Trade Off Chart
Yes No
Charting - Indicators / Studies
100 42
Charting - Drawing Tools
22 4
Charting - Historical Trades
Yes Yes
Charting - Corporate Events
Yes Yes
Charting - Automated Analysis
Yes Yes
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
8 2
Charting - Custom Studies
No No
Platforms & Tools 4 3
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Day Trading

Feature Merrill Edge ChoiceTrade
Stock Alerts - Basic Fields
Yes No
Stock Alerts - Advanced Fields
Yes No
Streaming Time & Sales
Yes Yes
Streaming TV
No No
Direct Market Routing - Stocks
No No
Direct Market Routing - Options
No No
Ladder Trading
No No
Trade Hot Keys
Yes No
Level 2 Quotes - Stocks
Yes Yes
Level 2 Quotes - Options
Yes No
Trade Ideas - Backtesting
Yes Yes
Short Locator
No No
Order Liquidity Rebates
No No
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Mobile Trading Apps

Feature Merrill Edge ChoiceTrade
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
No No
Trading - Mutual Funds
Yes No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
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Mobile App Features

Feature Merrill Edge ChoiceTrade
Watch List Syncing
Yes Yes
Stock Alerts
Yes No
Charting - After Hours
Yes Yes
Charting - Drawing
Yes No
Charting - Study Customizations
Yes Yes
Heatmapping
Yes Yes
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 4 3.5
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Research Overview

Feature Merrill Edge ChoiceTrade
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes Yes
Research - Fixed Income
Yes Yes
Screener - Stocks
Yes No
Screener - ETFs
Yes No
Screener - Mutual Funds
Yes No
Screener - Options
Yes No
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
Yes No
Research 4.5 2
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Stock Research

Feature Merrill Edge ChoiceTrade
Stock Research - Reports
3 0
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
Yes Yes
Stock Research - Metric Comp
Yes No
Stock Research - SEC Filings
Yes Yes
Stock Research - Social
No No
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
Yes Yes
Stock Research - News
Yes Yes
Stock Research - ESG
Yes No
Research 4.5 2
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ETF Research

Feature Merrill Edge ChoiceTrade
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes No
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
Yes No
ETFs - Reports
Yes No
Research 4.5 2
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Mutual Fund Research

Feature Merrill Edge ChoiceTrade
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
Yes No
Mutual Funds - Asset Allocation
Yes No
Mutual Funds - Sector Allocation
Yes No
Mutual Funds - Country Allocation
Yes No
Mutual Funds - StyleMap
Yes No
Mutual Funds - 3rd Party Ratings
Yes No
Research 4.5 2
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Options Trading

Feature Merrill Edge ChoiceTrade
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
69 18
Option Chains - Greeks
5 4
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes Yes
Option Probability Analysis Adv
No Yes
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes Yes
Option Positions - Rolling
Yes Yes
Option Positions - Grouping
Yes Yes
Platforms & Tools 4 3
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Beginners

Feature Merrill Edge ChoiceTrade
Education (Stocks)
Yes No
Education (ETFs)
Yes No
Education (Options)
Yes Yes
Education (Mutual Funds)
Yes No
Education (Fixed Income)
Yes No
Education (Retirement)
Yes No
Paper Trading
No Yes
Videos
Yes No
Webinars (Monthly Avg)
0 0
Webinars (Archived)
No No
Live Seminars
Yes No
Progress Tracking
Yes No
Interactive Learning - Quizzes
Yes No
Investor Magazine
Yes No
Education 4.5 1.5
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Banking

Feature Merrill Edge ChoiceTrade
Retail Locations
4300 0
Member FDIC
Yes No
Checking Accounts
Yes No
Savings Accounts
Yes No
Credit Cards
Yes No
Debit Cards
Yes No
Mortgage Loans
Yes No
No Fee Banking
No No
Banking 5 0.5
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Overall

Feature Merrill Edge ChoiceTrade
Merrill Edge Review ChoiceTrade Review
Overall 4.5 3
Winner check_circle

The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers. This review compares ChoiceTrade vs Merrill Edge. Is ChoiceTrade or Merrill Edge a better online broker?

First, we will make a comparison of the stock and option trading fees for trading with both brokers. ChoiceTrade and Merrill Edge both cost $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Each option contract then costs $0.65 at Merrill Edge and $0.40 at ChoiceTrade. 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. ChoiceTrade supports Stock Trading and Options Trading while Merrill Edge supports Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Merrill Edge offers its clients access to 3709 different mutual funds while ChoiceTrade has 0 available funds, a difference of 3,709.

Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. ChoiceTrade makes virtual trading available to clients, while Merrill Edge does not. For mobile trading, ChoiceTrade offers the iPhone App and Android App while Merrill Edge offers the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Merrill Edge while customers at ChoiceTrade can have none of these.

Overall, between ChoiceTrade and Merrill Edge, Merrill Edge is the winner.

ChoiceTrade Review
Merrill Edge Review



All pricing data was obtained from a published web site as of 01/20/2020 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.

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