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Merrill Edge vs eToro 2022

StockBrokers.com

Written by StockBrokers.com

November 02, 2022

Is Merrill Edge better than eToro? After testing 15 of the best online brokers over six months, E*TRADE (92.52%) is better than Merrill Edge (84.89%). Founded in 1982 as one of the first online brokerages in the United States, E*TRADE highlights include $0 trades, two excellent mobile apps and the Power E*TRADE platform, which is great for beginners, active trading and options trading.

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Overall RatingMerrill EdgeeToroE*TRADE
Overall4.5 Stars3 Stars5 Stars
Commissions & Fees4.5 Stars4 Stars4.5 Stars
Investment Options4 Stars2 Stars5 Stars
Platforms & Tools4 Stars2.5 Stars4.5 Stars
Mobile Trading Apps4 Stars2.5 Stars5 Stars
Research4.5 Stars2.5 Stars4.5 Stars
Customer Service4.5 StarsN/A4.5 Stars
Education4.5 Stars3.5 Stars4.5 Stars
Ease Of Use4 Stars4 Stars5 Stars
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ReviewMerrill Edge RevieweToro ReviewE*TRADE Review
Trading FeesMerrill EdgeeToroE*TRADE
Minimum Deposit$0.00$10.00$0.00
Stock Trades$0.00$0.00$0.00
Penny Stock Fees (OTCCB)N/AN/A$6.95
Mutual Fund Trade Fee$19.95N/A$19.99
Options (Base Fee)$0.00N/A$0.00
Options (Per Contract)$0.65N/A$0.65
Futures (Per Contract)N/AN/A$1.50
Broker Assisted Trade Fee29.95$0$25
Margin RatesMerrill EdgeeToroE*TRADE
Margin Rate Under $24,999.99N/AN/A11.95%
Margin Rate $25,000.00 to $49,999.99N/AN/A11.45%
Margin Rate $50,000.00 to $99,999.99N/AN/A10.95%
Margin Rate $100,000.00 to $249,999.99N/AN/A10.45%
Margin Rate $250,000.00 to $499,999.99N/AN/A9.95%
Margin Rate $500,000.00 to $999,999.99N/AN/A9.45%
Margin Rate Above $1,000,000.00N/AN/A8.45%
Account FeesMerrill EdgeeToroE*TRADE
IRA Annual Fee$0.00N/A$0.00
IRA Closure Fee$49.95N/A$0.00
Account Transfer Out (Partial)$0.00N/A$25.00
Account Transfer Out (Full)$49.95N/A$75.00
Options Exercise Fee$0.00N/A$0.00
Options Assignment Fee$0.00N/A$0.00
Investment OptionsMerrill EdgeeToroE*TRADE
Stock TradingYesYesYes
Margin TradingYesNoYes
Fractional SharesNoYesNo
OTCBB / Pink SheetsYesNoYes
Options TradingYesNoYes
Complex Options Max Legs404
Futures TradingNoNoYes
Forex TradingNoNoNo
Crypto TradingNoYesNo
Crypto Trading - Total Coins0260
Mutual Funds (No Load)295206486
Mutual Funds (Total)346607242
Bonds (US Treasury)YesNoYes
Bonds (Corporate)YesNoYes
Bonds (Municipal)YesNoYes
Advisor ServicesYesNoYes
International Countries (Stocks)000
Order TypesMerrill EdgeeToroE*TRADE
Order Type - MarketYesYesYes
Order Type - LimitYesNoYes
Order Type - After HoursYesNoYes
Order Type - StopYesYesYes
Order Type - Trailing StopYesYesYes
Order Type - OCONoNoYes
Order Type - OTONoNoYes
Order Type - Broker AssistedYesNoYes
BeginnersMerrill EdgeeToroE*TRADE
Education (Stocks)YesYesYes
Education (ETFs)YesNoYes
Education (Options)YesNoYes
Education (Mutual Funds)YesNoYes
Education (Bonds)YesNoYes
Education (Retirement)YesNoYes
Retirement CalculatorYesNoYes
Investor DictionaryYesNoYes
Paper TradingNoYesYes
VideosYesYesYes
WebinarsYesNoYes
Webinars (Archived)YesNoYes
Progress TrackingNoNoNo
Interactive Learning - QuizzesYesNoYes
Stock Trading AppsMerrill EdgeeToroE*TRADE
iPhone AppYesYesYes
Android AppYesYesYes
Apple Watch AppYesNoYes
Trading - StocksYesYesYes
Trading - After-HoursYesNoYes
Trading - Simple OptionsYesNoYes
Trading - Complex OptionsYesNoYes
Order Ticket RT QuotesYesYesYes
Order Ticket SRT QuotesNoYesYes
Stock App FeaturesMerrill EdgeeToroE*TRADE
Market Movers (Top Gainers)YesYesYes
Stream Live TVNoNoYes
Videos on DemandNoNoNo
Stock AlertsYesYesYes
Option Chains ViewableYesNoYes
Watch List (Real-time)YesYesYes
Watch List (Streaming)YesYesYes
Watch Lists - Create & ManageYesYesYes
Watch Lists - Column CustomizationNoNoYes
Watch Lists - Total Fields285795
Stock App ChartingMerrill EdgeeToroE*TRADE
Charting - After-HoursNoNoYes
Charting - Can Turn HorizontallyYesNoYes
Charting - Multiple Time FramesYesYesYes
Charting - Technical Studies34510
Charting - Study CustomizationsYesYesYes
Charting - Stock ComparisonsYesNoYes
Trading PlatformsMerrill EdgeeToroE*TRADE
Active Trading PlatformMerrill Edge Market ProN/APower E*TRADE
Desktop Trading PlatformNoNoNo
Desktop Platform (Mac)NoNoNo
Web Trading PlatformYesYesYes
Paper TradingNoYesYes
Trade JournalNoNoNo
Watch Lists - Total Fields285795
Stock Chart FeaturesMerrill EdgeeToroE*TRADE
Charting - Adjust Trades on ChartYesNoYes
Charting - Indicators / Studies10446119
Charting - Drawing Tools231331
Charting - NotesYesYesYes
Charting - Index OverlaysYesYesYes
Charting - Historical TradesYesNoYes
Charting - Corporate EventsYesNoYes
Charting - Custom Date RangeYesNoYes
Charting - Custom Time BarsYesNoNo
Charting - Automated AnalysisYesNoYes
Charting - Save ProfilesYesYesYes
Trade Ideas - Technical AnalysisYesYesYes
Charting - Study Customizations856
Charting - Custom StudiesNoNoNo
Day TradingMerrill EdgeeToroE*TRADE
Streaming Time & SalesYesYesYes
Streaming TVNoNoYes
Direct Market Routing - StocksNoNoYes
Ladder TradingNoNoNo
Trade Hot KeysNoNoYes
Level 2 Quotes - StocksYesNoYes
Trade Ideas - BacktestingYesNoNo
Trade Ideas - Backtesting AdvNoNoNo
Short LocatorNoNoNo
Order Liquidity RebatesNoNoNo
Research OverviewMerrill EdgeeToroE*TRADE
Research - StocksYesYesYes
Research - ETFsYesYesYes
Research - Mutual FundsYesNoYes
Research - Pink Sheets / OTCBBYesNoYes
Research - BondsYesNoYes
Screener - StocksYesNoYes
Screener - ETFsYesNoYes
Screener - Mutual FundsYesNoYes
Screener - BondsYesNoYes
Misc - Portfolio AllocationYesNoYes
Stock ResearchMerrill EdgeeToroE*TRADE
Stock Research - PDF Reports306
Stock Research - EarningsYesYesYes
Stock Research - InsidersYesYesYes
Stock Research - SocialNoYesYes
Stock Research - NewsYesYesYes
Stock Research - ESGYesYesNo
Stock Research - SEC FilingsYesYesYes
ETF ResearchMerrill EdgeeToroE*TRADE
ETFs - Strategy OverviewYesYesYes
ETF Fund Facts - Inception DateYesNoYes
ETF Fund Facts - Expense RatioYesNoYes
ETF Fund Facts - Net AssetsYesNoYes
ETF Fund Facts - Total HoldingsYesNoYes
ETFs - Top 10 HoldingsYesNoYes
ETFs - Sector ExposureYesNoYes
ETFs - Risk AnalysisYesNoYes
ETFs - RatingsYesYesYes
ETFs - Morningstar StyleMapYesNoYes
ETFs - PDF ReportsYesNoYes
Mutual Fund ResearchMerrill EdgeeToroE*TRADE
Mutual Funds - Strategy OverviewYesNoYes
Mutual Funds - Performance ChartYesNoNo
Mutual Funds - Performance AnalysisYesNoYes
Mutual Funds - ProspectusYesNoYes
Mutual Funds - 3rd Party RatingsYesNoYes
Mutual Funds - Fees BreakdownYesNoYes
Mutual Funds - Top 10 HoldingsYesNoYes
Mutual Funds - Asset AllocationYesNoYes
Mutual Funds - Sector AllocationYesNoYes
Mutual Funds - Country AllocationYesNoYes
Mutual Funds - StyleMapYesNoYes
Options TradingMerrill EdgeeToroE*TRADE
Option Chains - Basic ViewYesNoYes
Option Chains - Strategy ViewYesNoYes
Option Chains - StreamingYesNoYes
Option Chains - Total Columns68031
Option Chains - Greeks505
Option Chains - Quick AnalysisYesNoYes
Option Analysis - P&L ChartsYesNoYes
Option Probability AnalysisYesNoYes
Option Probability Analysis AdvNoNoYes
Option Positions - GreeksYesNoYes
Option Positions - Greeks StreamingYesNoYes
Option Positions - Adv AnalysisYesNoYes
Option Positions - RollingYesNoYes
Option Positions - GroupingYesNoYes
BankingMerrill EdgeeToroE*TRADE
Bank (Member FDIC)YesNoYes
Checking AccountsYesNoYes
Savings AccountsYesNoYes
Credit CardsYesNoYes
Debit CardsYesNoYes
Mortgage LoansYesNoYes
Customer ServiceMerrill EdgeeToroE*TRADE
Phone Support (Prospect Customers)YesNoYes
Phone Support (Current Customers)YesNoYes
Email SupportYesYesYes
Live Chat (Prospect Customers)YesYesNo
Live Chat (Current Customers)YesYesYes
24/7 SupportYesNoYes
OverallMerrill EdgeeToroE*TRADE
Overall4.5 Stars3 Stars5 Stars
Commissions & Fees4.5 Stars4 Stars4.5 Stars
Investment Options4 Stars2 Stars5 Stars
Platforms & Tools4 Stars2.5 Stars4.5 Stars
Mobile Trading Apps4 Stars2.5 Stars5 Stars
Research4.5 Stars2.5 Stars4.5 Stars
Education4.5 Stars3.5 Stars4.5 Stars
Ease Of Use4 Stars4 Stars5 Stars
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ReviewMerrill Edge RevieweToro ReviewE*TRADE Review
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Merrill Edge vs eToro Comparison

Comparing brokers side by side is no easy task. For our 2022 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Merrill Edge vs eToro.

Is Merrill Edge or eToro better for beginners?

E*TRADE offers more comprehensive new investor education for beginner investors than Merrill Edge. 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 N/A per contract at eToro. For a complete commissions summary, see our best brokers for free stock trading guide.

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

Merrill Edge offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Advisor Services, while eToro offers investors access to Stock Trading and Fractional Shares, 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.

Which trading platform is better: Merrill Edge or eToro?

To compare the trading platforms of Merrill Edge and eToro, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, E*TRADE offers a better experience. With research, Merrill Edge offers superior market research. Finally, we found E*TRADE to provide better mobile trading apps.

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.

Is Merrill Edge good?

Merrill Edge offers $0 trades with industry-leading research tools — especially for ESG research — and excellent customer service. Better yet, the Preferred Rewards program at Bank of America, Merrill Edge’s parent, offers the best rewards of any bank broker we tested in 2022.

Is eToro good?

eToro bills itself as a social trading platform, and that is exactly what you get. It’s a combination of Twitter and trading that will appeal to those who are most interested in learning how to trade cryptocurrencies or joining a community with crypto as the focus. 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.

Merrill Edge vs eToro Winner

Overall winner: E*TRADE

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