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 $2.95 per stock trade which is $2.95 more than Cobra Trading which charges customers $0 (the broker charges a per share rate instead) per trade. Looking at trading options, Merrill Edge's base fee is $2.95 while Cobra Trading's is $N/A. Cobra Trading's per contract rate of $0.50 is less than Merrill Edge which charges $0.65. 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, Cobra Trading trails Merrill Edge by 3,709 total mutual funds, with Merrill Edge offering 3709 and Cobra Trading offering 0.
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 offer clients access to an iPhone App and Android App while Merrill Edge has an 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 offered by Merrill Edge while Cobra Trading offers none of these.
Overall, between Cobra Trading and Merrill Edge, Merrill Edge is the winner.
Cobra Trading Review
Merrill Edge Review