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Cobra Trading vs Merrill Edge 2020

Is Cobra Trading better than Merrill Edge? After testing 15 of the best online brokers over five months, Merrill Edge (88.87%) is better than Cobra Trading (56.88%). 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.

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Overall Rating

Trading Fees

Feature Cobra Trading Merrill Edge
Minimum Deposit $30,000.00 $0.00
Stock Trade Fee (per trade) N/A $0.00
ETF Trade Fee N/A $0.00
Options Base Fee N/A $0.00
Options Per Contract Fee $0.50 $0.65
Mutual Fund Trade Fee $25.00 $19.95
Broker Assisted Trades Fee $0.00 $29.95
Commissions & Fees 3 4.5
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Margin Rates

Feature Cobra Trading Merrill Edge
Under $24,999.99 5.25% 10.13%
$25,000.00 to $49,999.99 5.25% 9.00%
$50,000.00 to $99,999.99 5.25% 9.00%
$100,000.00 to $249,999.99 5.25% 7.63%
$250,000.00 to $499,999.99 5.25% 7.63%
$500,000.00 to $999,999.99 5.25% 7.38%
Above $1,000,000.00 5.25% 6.75%
Commissions & Fees 3 4.5
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Account Fees

Feature Cobra Trading Merrill Edge
IRA Annual Fee $35.00 $0.00
IRA Closure Fee $95.00 $49.95
Returned ACH Fee $25.00 $30.00
Returned Wire Fee $25.00 N/A
Stock Certificate Processing Fee N/A $500.00
Stock Certificate Delivery Fee N/A N/A
Paper Statement Fee $2.00 $5.00
Paper Confirmation Fee $3.00 $3.00
Domestic Wire Fee $20.00 $24.95
International Wire Fee $50.00 $24.95
Commissions & Fees 3 4.5

Investment Options

Feature Cobra Trading Merrill Edge
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 2
Futures Trading
Yes No
Forex Trading
Yes No
Commission-Free ETFs 0 all
Mutual Funds (No Load)
0 2471
Mutual Funds (Total)
0 3709
Bonds (US Treasury)
No Yes
Bonds (Corporate)
No Yes
Bonds (Municipal)
No Yes
Interest Sharing
No No
Advisor Services
No Yes
International Trading
No No
Offering of Investments 3 3.5
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Order Types

Feature Cobra Trading Merrill Edge
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 No
Order Type - MultiContingent
No No
Order Type - OCO
Yes No
Order Type - OTO
No No
Order Type - OTOCO
No No
Offering of Investments 3 3.5
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Trading Platforms

Feature Cobra Trading Merrill Edge
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
No Yes
Web Platform
No Yes
Paper Trading
Yes No
Trade Journal
No No
Watch Lists - Total Fields
30 285
Heat Mapping
No Yes
AI Assistant Bot
No No
Platforms & Tools 3 4
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Charting Features

Feature Cobra Trading Merrill Edge
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
36 100
Charting - Drawing Tools
10 22
Charting - Historical Trades
No Yes
Charting - Corporate Events
No Yes
Charting - Automated Analysis
No Yes
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
8 8
Charting - Custom Studies
No No
Platforms & Tools 3 4
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Day Trading

Feature Cobra Trading Merrill Edge
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
Yes Yes
Streaming Time & Sales
Yes Yes
Streaming TV
No No
Direct Market Routing - Stocks
Yes No
Direct Market Routing - Options
Yes No
Ladder Trading
Yes No
Trade Hot Keys
Yes Yes
Level 2 Quotes - Stocks
Yes Yes
Level 2 Quotes - Options
Yes Yes
Trade Ideas - Backtesting
No Yes
Short Locator
Yes No
Order Liquidity Rebates
Yes No
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Mobile Trading Apps

Feature Cobra Trading Merrill Edge
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No Yes
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
No No
Trading - Mutual Funds
No Yes
Trading - Simple Options
Yes Yes
Trading - Complex Options
No Yes
Trading - Option Rolling
No No
Touch / Face ID
No Yes
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Mobile App Features

Feature Cobra Trading Merrill Edge
Watch List Syncing
No Yes
Stock Alerts
No Yes
Charting - After Hours
Yes Yes
Charting - Drawing
No Yes
Charting - Study Customizations
No Yes
Heatmapping
No Yes
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 3 4
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Research Overview

Feature Cobra Trading Merrill Edge
Research - Stocks
Yes Yes
Research - ETFs
No Yes
Research - Mutual Funds
No Yes
Research - Pink Sheets / OTCBB
No Yes
Research - Fixed Income
No Yes
Screener - Stocks
No Yes
Screener - ETFs
No Yes
Screener - Mutual Funds
No Yes
Screener - Options
No Yes
Screener - Bonds
No Yes
Misc - Portfolio Builder
No Yes
Misc - Portfolio Allocation
No Yes
Research 1.5 4.5
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Stock Research

Feature Cobra Trading Merrill Edge
Stock Research - Reports
1 3
Stock Research - Earnings
No Yes
Stock Research - Insiders
No Yes
Stock Research - Metric Comp
No Yes
Stock Research - SEC Filings
No Yes
Stock Research - Social
No No
Stock Research - Balance Sheet
No Yes
Stock Research - Cash Flows
No Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No Yes
Research 1.5 4.5
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ETF Research

Feature Cobra Trading Merrill Edge
ETFs - Strategy Overview
No Yes
ETFs - Top 10 Holdings
No Yes
ETFs - Sector Exposure
No Yes
ETFs - Risk Analysis
No Yes
ETFs - Performance Analysis
No Yes
ETFs - Ratings
No Yes
ETFs - Morningstar StyleMap
No Yes
ETFs - Reports
No Yes
Research 1.5 4.5
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Mutual Fund Research

Feature Cobra Trading Merrill Edge
Mutual Funds - Strategy Overview
No Yes
Mutual Funds - Prospectus
No Yes
Mutual Funds - Reports
No Yes
Mutual Funds - Fees Breakdown
No Yes
Mutual Funds - Top 10 Holdings
No Yes
Mutual Funds - Asset Allocation
No Yes
Mutual Funds - Sector Allocation
No Yes
Mutual Funds - Country Allocation
No Yes
Mutual Funds - StyleMap
No Yes
Mutual Funds - 3rd Party Ratings
No Yes
Research 1.5 4.5
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Options Trading

Feature Cobra Trading Merrill Edge
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
17 69
Option Chains - Greeks
0 5
Option Chains - Quick Analysis
No Yes
Option Analysis - P&L Charts
No Yes
Option Probability Analysis
No Yes
Option Probability Analysis Adv
No No
Option Positions - Greeks
No Yes
Option Positions - Adv Analysis
No Yes
Option Positions - Rolling
No Yes
Option Positions - Grouping
No Yes
Platforms & Tools 3 4
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Beginners

Feature Cobra Trading Merrill Edge
Education (Stocks)
No Yes
Education (ETFs)
No Yes
Education (Options)
No Yes
Education (Mutual Funds)
No Yes
Education (Fixed Income)
No Yes
Education (Retirement)
No Yes
Paper Trading
Yes No
Videos
No Yes
Webinars (Monthly Avg)
0 0
Webinars (Archived)
No No
Live Seminars
No Yes
Progress Tracking
No Yes
Interactive Learning - Quizzes
No Yes
Investor Magazine
No Yes
Education 1 4.5
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Banking

Feature Cobra Trading Merrill Edge
Retail Locations
0 4300
Member FDIC
No Yes
Checking Accounts
No Yes
Savings Accounts
No Yes
Credit Cards
No Yes
Debit Cards
No Yes
Mortgage Loans
No Yes
No Fee Banking
No No
Banking 0.5 5
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Overall

Feature Cobra Trading Merrill Edge
Cobra Trading Review Merrill Edge Review
Overall 3 4.5
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Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Cobra Trading vs Merrill Edge to determine which broker is best. Let's dive in.

First, we will break down the commission charges of both brokers for placing stock and options trades. Cobra Trading and Merrill Edge have equal fees for trading stocks (equities), $0 per trade. For options trading, both Cobra Trading and Merrill Edge charge the same base fee of $N/A. Each option contract then costs $0.65 at Merrill Edge and $0.50 at Cobra Trading. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.

Next, investors want to make sure they can trade the investment vehicle they want. Merrill Edge offers clients Stock Trading, Options Trading and Mutual Funds while Cobra Trading offers Stock Trading, Options Trading, Forex Trading and Futures Trading. As far as mutual funds go, Merrill Edge offers its clients access to 3709 different mutual funds while Cobra Trading has 0 available funds, a difference of 3,709.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Cobra Trading offers virtual trading while Merrill Edge does not. For 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. Online banking is also used by many customers, and multiple full-service brokerages provide these services. 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.

Overall, between Cobra Trading and Merrill Edge, Merrill Edge is the winner.

Cobra Trading 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.

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