The StockBrokers.com 2017 Brokerage Review
compares ChoiceTrade vs Merrill Edge. Compare ChoiceTrade and Merrill Edge trade commissions, fees and overall broker ratings by using the table below. Is ChoiceTrade or Merrill Edge a better online broker?
Looking at both brokers, first we will take a look at the commission rates for both placing regular stock and options trades. Merrill Edge charges $6.95 per stock trade which is $1.95 more than ChoiceTrade which charges clients $5.00 per trade. Looking at trading options, ChoiceTrade's base fee is $5.00 while Merrill Edge's is $6.95. Contracts are pricier at Merrill Edge, costing $0.75 versus $0.50 at ChoiceTrade, a difference of $0.25 per contract. It should be noted that not every broker uses a flat rate stock trade fee structure, so it is important to read the full commission notes (head over to any online brokerage review
page, then navigate to the "Commission Notes" section).
Alongside trade commissions, being able to trade the way you want is a must. ChoiceTrade and Merrill Edge provide clients with Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Merrill Edge offers its clients access to 7649 different mutual funds while ChoiceTrade has 500 available funds, a difference of 7,149.00. Commission free ETFs can also be a nice plus, which for investors means access to 0 funds at both brokers.
Last but not least, by breaking down important features that each broker offers, we can really help to separate the two brokers. ChoiceTrade has virtual trading, Merrill Edge doesn't. For mobile trading, Merrill Edge offers the iPhone App, iPad App and Android App while ChoiceTrade offers the none of these. 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 clients none of these. On the whole, when it comes to tools, research, and trading on the go, Merrill Edge finished with awards for Best in Class - Research in 2014, while ChoiceTrade came up with none of these.
Overall, Merrill Edge boasts 4.00 stars versus ChoiceTrade's 2.00 stars.