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Merrill Edge vs eToro 2024

StockBrokers.com

Written by StockBrokers.com

January 31, 2024

Is Merrill Edge better than eToro? After testing 18 of the best online brokers, our analysis finds that Merrill Edge (94.0%) is better than eToro (76.7%). Merrill Edge and its parent, Bank of America, make for a well-rounded offering, with $0 trades, robust research, reliable customer service; and its Stock Stories and Fund Stories are an industry standout. There are some gaps in investment offerings, including crypto and futures.

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  • check_box_outline_blankcheck_boxAlly Invest
  • check_box_outline_blankcheck_boxCharles Schwab
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  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFidelity
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  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
  • check_box_outline_blankcheck_boxMerrill Edge
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  • check_box_outline_blankcheck_boxRobinhood
  • check_box_outline_blankcheck_boxSoFi Invest
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Compare

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Overall Rating Merrill Edge eToro
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 2.5/5 Stars
Platforms & Tools 4.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 3/5 Stars
Customer Service 4.0/5 Stars N/A
Education 5/5 Stars 2.5/5 Stars
Ease Of Use 5/5 Stars 4/5 Stars
Winner check_circle
Review Merrill Edge Review eToro Review
Broker Screenshots Merrill Edge eToro
Trading Platform & Tools Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Trading Fees Merrill Edge eToro
Minimum Deposit $0.00 $10.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) info N/A N/A
Mutual Fund Trade Fee $19.95 N/A
Options (Per Contract) $0.65 $0.00
Futures (Per Contract) (Not offered) (Not offered)
Broker Assisted Trade Fee $29.95 $0
Margin Rates Merrill Edge eToro
Margin Rate Under $25,000 Varies info Not offered
Margin Rate $25,000 to $49,999.99 Varies info Not offered
Margin Rate $50,000 to $99,999.99 Varies info Not offered
Margin Rate $100,000 to $249,999.99 Varies info Not offered
Margin Rate $250,000 to $499,999.99 Varies info Not offered
Margin Rate $500,000 to $999,999.99 Varies info Not offered
Margin Rate Above $1,000,000 Varies info Not offered
Account Fees Merrill Edge eToro
IRA Annual Fee $0.00
IRA Closure Fee $49.95
Account Transfer Out (Partial) info $0.00 $75.00
Account Transfer Out (Full) info $49.95 $75.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment Options Merrill Edge eToro
Stock Trading info Yes Yes
Margin Trading Yes No
Fractional Shares info No Yes
OTC Stocks info Yes No
Options Trading info Yes Yes
Complex Options Max Legs info 4 0
Futures Trading info No No
Forex Trading info No No
Crypto Trading info No Yes
Crypto Trading - Total Coins info 0 26
Mutual Funds (No Load) info 2952 0
Mutual Funds (Total) info 3466 0
Bonds (US Treasury) info Yes No
Bonds (Corporate) info Yes No
Bonds (Municipal) info Yes No
Traditional IRAs info Yes No
Roth IRAs info Yes No
Advisor Services info Yes No
International Countries (Stocks) info 0 0
Order Types Merrill Edge eToro
Order Type - Market info Yes Yes
Order Type - Limit info Yes No
Order Type - After Hours info Yes No
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes Yes
Order Type - OCO info No No
Order Type - OTO info No No
Order Type - Broker Assisted info Yes No
Beginners Merrill Edge eToro
Education (Stocks) info Yes Yes
Education (ETFs) info Yes No
Education (Options) info Yes No
Education (Mutual Funds) info Yes No
Education (Bonds) info Yes No
Education (Retirement) info Yes No
Retirement Calculator info Yes No
Investor Dictionary info Yes No
Paper Trading info No Yes
Videos info Yes Yes
Webinars info Yes No
Webinars (Archived) info Yes No
Progress Tracking info No No
Interactive Learning - Quizzes info Yes No
Stock Trading Apps Merrill Edge eToro
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info Yes No
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes No
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes No
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info No Yes
Stock App Features Merrill Edge eToro
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No No
Videos on Demand info No Yes
Stock Alerts info Yes Yes
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes Yes
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info No No
Watch Lists - Total Fields info 285 7
Stock App Charting Merrill Edge eToro
Charting - After-Hours info No Yes
Charting - Can Turn Horizontally info Yes No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 34 103
Charting - Study Customizations info Yes Yes
Charting - Stock Comparisons info Yes Yes
Trading Platforms Merrill Edge eToro
Active Trading Platform info Merrill Edge Market Pro N/A
Desktop Trading Platform info No No
Desktop Platform (Mac) info No No
Web Trading Platform info Yes Yes
Paper Trading info No Yes
Trade Journal info No No
Watch Lists - Total Fields info 285 7
Stock Chart Features Merrill Edge eToro
Charting - Adjust Trades on Chart info Yes No
Charting - Indicators / Studies info 104 46
Charting - Drawing Tools info 23 48
Charting - Notes info Yes Yes
Charting - Index Overlays info Yes Yes
Charting - Historical Trades info Yes No
Charting - Corporate Events info Yes No
Charting - Custom Date Range info Yes No
Charting - Custom Time Bars info Yes No
Charting - Automated Analysis info Yes No
Charting - Save Profiles info Yes Yes
Trade Ideas - Technical Analysis info Yes Yes
Charting - Study Customizations info 8 5
Charting - Custom Studies info No No
Day Trading Merrill Edge eToro
Streaming Time & Sales info Yes Yes
Streaming TV info No No
Direct Market Routing - Stocks info No No
Ladder Trading info No No
Trade Hot Keys info No No
Level 2 Quotes - Stocks info Yes No
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info No No
Short Locator info No No
Order Liquidity Rebates info No No
Research Overview Merrill Edge eToro
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes No
Research - Pink Sheets / OTCBB info Yes No
Research - Bonds info Yes No
Screener - Stocks info Yes No
Screener - ETFs info Yes No
Screener - Mutual Funds info Yes No
Screener - Bonds info Yes No
Misc - Portfolio Allocation info Yes No
Stock Research Merrill Edge eToro
Stock Research - PDF Reports info 3 0
Stock Research - Earnings info Yes Yes
Stock Research - Insiders info Yes Yes
Stock Research - Social info No Yes
Stock Research - News info Yes Yes
Stock Research - ESG info Yes Yes
Stock Research - SEC Filings info Yes Yes
ETF Research Merrill Edge eToro
ETFs - Strategy Overview info Yes Yes
ETF Fund Facts - Inception Date info Yes No
ETF Fund Facts - Expense Ratio info Yes No
ETF Fund Facts - Net Assets info Yes No
ETF Fund Facts - Total Holdings info Yes No
ETFs - Top 10 Holdings info Yes No
ETFs - Sector Exposure info Yes No
ETFs - Risk Analysis info Yes No
ETFs - Ratings info Yes Yes
ETFs - Morningstar StyleMap info Yes No
ETFs - PDF Reports info Yes No
Mutual Fund Research Merrill Edge eToro
Mutual Funds - Strategy Overview info Yes No
Mutual Funds - Performance Chart info Yes No
Mutual Funds - Performance Analysis info Yes No
Mutual Funds - Prospectus info Yes No
Mutual Funds - 3rd Party Ratings info Yes No
Mutual Funds - Fees Breakdown info Yes No
Mutual Funds - Top 10 Holdings info Yes No
Mutual Funds - Asset Allocation info Yes No
Mutual Funds - Sector Allocation info Yes No
Mutual Funds - Country Allocation info Yes No
Mutual Funds - StyleMap info Yes No
Options Trading Merrill Edge eToro
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes No
Option Chains - Streaming info Yes No
Option Chains - Total Columns info 68 0
Option Chains - Greeks info 5 4
Option Chains - Quick Analysis info Yes Yes
Option Analysis - P&L Charts info Yes No
Option Probability Analysis info Yes No
Option Probability Analysis Adv info No No
Option Positions - Greeks info Yes No
Option Positions - Greeks Streaming info Yes No
Option Positions - Adv Analysis info Yes No
Option Positions - Rolling info Yes No
Option Positions - Grouping info Yes No
Banking Merrill Edge eToro
Bank (Member FDIC) info Yes No
Checking Accounts info Yes No
Savings Accounts info Yes No
Credit Cards info Yes No
Debit Cards info Yes No
Mortgage Loans info Yes No
Customer Service Merrill Edge eToro
Phone Support (Prospect Customers) info No No
Phone Support (Current Customers) info Yes No
Email Support info Yes Yes
Live Chat (Prospect Customers) info Yes Yes
Live Chat (Current Customers) info Yes Yes
24/7 Support info Yes No
Overall Merrill Edge eToro
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 2.5/5 Stars
Platforms & Tools 4.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 3/5 Stars
Education 5/5 Stars 2.5/5 Stars
Ease Of Use 5/5 Stars 4/5 Stars
Winner check_circle
Review Merrill Edge Review eToro Review
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Merrill Edge vs eToro Comparison

Comparing brokers side by side is no easy task. We spend hundreds of hours each year testing the platforms, mobile apps, trading tools and general ease of use among online brokerages, as well as comparing commissions and fees, to find the best online broker.

Though many U.S. brokers offer basic trading features, such as an app, charting tools, stock research and educational content, the depth of those features can vary widely. Let's compare Merrill Edge vs eToro.

Is Merrill Edge or eToro better for beginners?

In stock trading, the more you know, the better you’ll do. Taking advantage of resources like articles, webinars, videos and interactive elements is a great way to shorten the learning curve. In our analysis, we examine the availability of several different types of educational materials.

For 2024, our review finds that Merrill Edge offers more comprehensive new investor education for beginning investors than eToro. Merrill Edge offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while eToro offers investors access to Paper Trading, Videos and Education (Stocks).

What about Merrill Edge vs eToro pricing?

Merrill Edge and eToro charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Merrill Edge, costing $0.65 per contract versus $0.00 per contract at eToro. Merrill Edge and eToro both charge (Not offered) per option contract. For a deeper dive, see our best brokers for free stock trading guide.

Does Merrill Edge or eToro offer a wider range of investment options?

Looking at a full range of investment options, including order types and international trading, our research has found that Merrill Edge offers a more comprehensive offering than eToro. Merrill Edge ranks #7 out of 18 brokers for our Investment Options category, while eToro ranks #17.

Merrill Edge offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Advisor Services, while eToro offers investors access to Stock Trading, Fractional Shares and Options Trading. Neither have Futures Trading and Forex Trading Looking at Mutual Funds, eToro trails Merrill Edge in its offering of no transaction fee (NTF) mutual funds, with Merrill Edge offering 3095 and eToro offering 0.

Do Merrill Edge and eToro offer cryptocurrency?

In our analysis of top U.S. brokerages, we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum. Though crypto has risen steadily in popularity, availability still varies from broker to broker. Our review finds that neither Merrill Edge and eToro offer crypto trading.

Which trading platform is better: Merrill Edge or eToro?

To compare the day trading platforms of Merrill Edge and eToro, we focused on trading tools and functionality across both web and desktop-based platforms. Popular day trading platform tools include streaming real-time quotes, stock alerts, trading hotkeys, direct market routing, streaming time and sales, customizable watch lists, backtesting, and fully functional charting packages, among many others. For day trading, Merrill Edge offers a better experience.

Does Merrill Edge or eToro offer a better stock trading app?

After testing 25 features across the stock trading apps of Merrill Edge and eToro, we found Merrill Edge to be better overall. The best stock market apps are easy to use, have excellent design, and deliver a fully featured online trading experience. Merrill Edge ranks #5 out of 18 brokers, while eToro ranks #11.

Merrill Edge Trading App Gallery

eToro Trading App Gallery

Which broker is better for researching stocks?

For research, Merrill Edge offers superior market research than eToro. Merrill Edge ranks #4 and eToro ranks #12.

Over the years, we've found that the best brokers provide rich market commentary, a variety of third-party research reports, and thorough quote screens that are not just easy to navigate, but that also include a comprehensive selection of fundamental data. Robust stock, ETFs, and mutual fund screeners are also must-haves for trade idea generation.

How do Merrill Edge and eToro compare in terms of minimum deposit required?

Merrill Edge requires a minimum deposit of $0.00, while eToro requires a minimum deposit of $10.00. From our testing, we found that SoFi is the only broker that requires a minimum deposit.

Which broker offers better margin rates for accounts under $25,000?

Merrill Edge charges Varies for accounts under $25,000 while eToro charges a margin rate of Not offered. The industry average of the 18 brokers we track is 9%.

Does Merrill Edge offer fractional shares? Does eToro?

Fractional shares are not offered by either broker. Our research has found that 39% of brokers offer fractional shares investing. Fractional shares allow traders to buy a part of a whole share of stock. For example, if Amazon is trading at $1,000, you could buy half a share for $500.

Can you trade penny stocks with Merrill Edge or eToro?

Neither Merrill Edge nor eToro allow you to trade penny stocks. Penny stocks are companies whose shares trade for under $5 and are listed over the counter (OTC). For brokers that do offer penny stock trades, the average commission is $3.

Does either broker offer banking?

Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Merrill Edge while eToro offers neither of these.

Which broker offers stronger customer service?

StockBrokers.com partners with customer experience research group Confero to conduct phone tests from locations across the United States to thoroughly evaluate the quality and speed of brokerage customer service. (Read more about How We Test.) Here are the results of our current testing.

Merrill Edge was rated 2nd out of 13 brokers, with an overall score of 9.3 out of 10.

eToro’s customer service could not be tested or rated due to the fact it does not offer phone support for prospective customers.

Is Merrill Edge good?

Merrill Edge and its parent, Bank of America, make for a well-rounded offering, with $0 trades, robust research, reliable customer service; and its Stock Stories and Fund Stories are an industry standout. There are some gaps in investment offerings, including crypto and futures.

In the 2024 StockBrokers.com Annual Awards, Merrill Edge was rated No. 1 for Bank Brokerage, Overall Client Experience, and Client Dashboard. It placed among Best in Class for Research, Platforms & Tools, Mobile Trading Apps, Education, Ease of Use, Beginners, Customer Service, IRA Accounts, Options Trading, High Net Worth Investors and Overall.

Is eToro good?

Though its offerings have some limitations, eToro's approach will appeal to those interested in learning how to trade crypto or joining a crypto-focused community. The scope currently is limited in the U.S., so those looking for more advanced trading or trading a variety of underlyings will want to look elsewhere.

In the 2024 StockBrokers.com Annual Awards, eToro ranked No. 1 for Investor Community and Crypto Technology.

Merrill Edge vs eToro Winner

Overall winner: Merrill Edge

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Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. StockBrokers.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

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