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 4,000 data points, let's compare Cobra Trading 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 Cobra Trading for placing regular stock trades ($6.95 and $0 (the broker charges a per share rate instead), respectively). With options, the base fees charged are $N/A (Cobra Trading) and $6.95 (Merrill Edge). Cobra Trading's per contract rate of $0.50 is less than Merrill Edge which charges $0.75. 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. Merrill Edge offers clients Stock Trading, Options Trading and Mutual Funds while Cobra Trading offers Stock Trading, Options Trading, Forex Trading and Futures Trading. Looking at mutual funds, Merrill Edge boasts an offering of 3709 mutual funds compared to Cobra Trading's 0 available funds.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Cobra Trading has virtual trading, Merrill Edge doesn't. Taking a look at mobile trading, Cobra Trading 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 clients of Merrill Edge while Cobra Trading offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, both Cobra Trading and Merrill Edge were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, between Cobra Trading and Merrill Edge, Merrill Edge is the winner
Cobra Trading Review
Merrill Edge Review