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Cobra Trading vs Merrill Edge 2019

Is Cobra Trading better than Merrill Edge? After scoring brokers on over 4,000 data points for our 2019 review, Merrill Edge (77.93%) is better than Cobra Trading (49.66%).

Merrill Edge

Best Rewards Program - Open Account
Special Offer: Invest in a new account and get up to $600.

Merrill Edge ($2.95 per trade) was awarded #1 for Banking Services and #1 Overall Client Experience, thanks to its parent company, Bank of America (BofA). Not limited to just BofA customers, Merrill Edge's Preferred Rewards program is excellent, offering unlimited $0 stock trades among other perks such as bonus rewards on credit cards and discounted mortgage rates.Read full review.

Cobra Trading

DasTrader Pro Broker - Open Account
Special Offer: Get a 50% comm. discount for 60 days.

Cobra Trading was founded in 2003 by Chadd Hessing as a direct-access, low-cost online brokerage for professional stock traders. While Cobra Trading offers multiple trading platforms and personalized service, trading costs are more expensive than leader Interactive Brokers. Read full review

Overall Rating

Feature Cobra Trading Merrill Edge
Overall 2.5 4
Cobra Trading Review Merrill Edge Review

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
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Margin Rates

Feature Cobra Trading
Open Account
Merrill Edge
Open Account
Under $24,999.99 5.25% 10.63%
$25,000.00 to $49,999.99 5.25% 9.50%
$50,000.00 to $99,999.99 5.25% 9.50%
$100,000.00 to $249,999.99 5.25% 8.13%
$250,000.00 to $499,999.99 5.25% 8.13%
$500,000.00 to $999,999.99 5.25% 7.88%
Above $1,000,000.00 5.25% 7.25%
Commissions & Fees 3 4
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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

Investment Options

Feature Cobra Trading Merrill Edge
Stock Trading
Yes Yes
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 0
Mutual Funds (No Load)
0 2471
Mutual Funds (Total)
0 3709
Bonds (US Treasury)
No Yes
Bonds (Corporate)
No Yes
Bonds (Municipal)
No Yes
Advisor Services
No Yes
International Trading
No No
Offering of Investments 3 3
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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
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Trading Platforms

Feature Cobra Trading Merrill Edge
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
No Yes
Web Platform
Yes Yes
Paper Trading
Yes No
Trade Journal
No No
Watch Lists - Total Fields
30 285
Heat Mapping
No Yes
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
9 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 4.5
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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 4.5
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Stock Research

Feature Cobra Trading Merrill Edge
Stock Research - Reports
0 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 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 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 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 No
Option Positions - Grouping
No Yes
Platforms & Tools 3 4
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Beginners

Feature Cobra Trading Merrill Edge
Has Education - Stocks
No Yes
Has Education - ETFs
No Yes
Has Education - Options
No Yes
Has Education - Mutual Funds
No Yes
Has Education - Fixed Income
No Yes
Has 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 No
Interactive Learning - Quizzes
No Yes
Investor Magazine
No Yes
Education 0.5 4.5
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Banking

Feature Cobra Trading Merrill Edge
Retail Locations
0 4400
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 2.5 4
Winner check_circle

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



All pricing data was obtained from a published web site as of 02/18/2019 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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