StockBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure

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.

Special Offer Get up to $600 when you invest in a new Merril Edge Self-Directed account. Open Account
Open Account

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

Overall

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

Comparing brokers side by side is no easy task. For our 2020 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare ChoiceTrade vs Merrill Edge.

Is ChoiceTrade or Merrill Edge better for beginners?
Merrill Edge is better for beginner investors than ChoiceTrade. Merrill Edge offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Fixed Income) and Education (Retirement).

What about ChoiceTrade vs Merrill Edge pricing?
ChoiceTrade and Merrill Edge both cost $0 per trade. With options, the base fee is $0 for both ChoiceTrade and Merrill Edge. Option contracts are pricier at Merrill Edge, costing $0.65 versus $0.40 at ChoiceTrade. For a complete commissions summary, see our best discount brokers guide.

Does ChoiceTrade or Merrill Edge offer a wider range of investment options?
Merrill Edge offers a more diverse selection of investment options than ChoiceTrade. Merrill Edge offers investors access to Stock Trading, OTCBB / Pink Sheets, Options Trading, Mutual Funds and Advisor Services. Looking at Mutual Funds, Merrill Edge boasts an offering of 3709 mutual funds compared to ChoiceTrade's 0 available funds.

Which trading platform is better: ChoiceTrade or Merrill Edge?
To compare the trading platforms of both ChoiceTrade and Merrill Edge, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Merrill Edge offers a better experience. With research, Merrill Edge offers superior market research. Finally, we found Merrill Edge 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. 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 better online broker.

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.

arrow_drop_upBack to top