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. Merrill Edge, with its regular stock trades costing $6.95, is more expensive than ChoiceTrade's rate of $0 per trade. With options, the base fees charged are $6.95 (Merrill Edge) and $5.00 (ChoiceTrade). Each option contract then costs $0.75 at Merrill Edge and $0.15 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 provides its clients with Stock Trading and Options Trading while Merrill Edge provides clients access to Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, ChoiceTrade trails Merrill Edge by 3,709 total mutual funds, with Merrill Edge offering 3709 and ChoiceTrade offering 0.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. ChoiceTrade offers virtual trading while Merrill Edge does not. For mobile trading, ChoiceTrade offer clients access to an iPhone App and Android App while Merrill Edge has 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 available to clients of Merrill Edge while ChoiceTrade offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, both ChoiceTrade and Merrill Edge were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, between ChoiceTrade and Merrill Edge, Merrill Edge is the winner
Merrill Edge Review