The StockBrokers.com 2017 Brokerage Review
compares E*TRADE vs Merrill Edge. Compare E*TRADE and Merrill Edge trade commissions, fees and overall broker ratings by using the table below. Is E*TRADE or Merrill Edge a better online broker?
Looking at both brokers, first we will take a look at the commission rates for both placing regular stock and options trades. E*TRADE and Merrill Edge both cost $6.95 per trade. For options trading, both E*TRADE and Merrill Edge charge the same base fee of $6.95. Contracts cost $0.75 each at both brokerages. It should be noted that not every broker uses a flat rate stock trade fee structure, so it is important to read the full commission notes (head over to any online brokerage review
page, then navigate to the "Commission Notes" section).
Alongside trade commissions, being able to trade the way you want is a must. Merrill Edge provides its clients with Stock Trading, Options Trading and Mutual Funds while E*TRADE gives clients access to Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Merrill Edge trails E*TRADE by 1,003.00 total funds, with E*TRADE offering 8652 and Merrill Edge offering 7649. Commission free ETFs can also be a nice plus, with E*TRADE having the upper hand thanks to its 133 available ETFs compared to Merrill Edge's offering of 0.
Last but not least, by breaking down important features that each broker offers, we can really help to separate the two brokers. E*TRADE nor Merrill Edge has virtual trading. For mobile trading, Both E*TRADE and Merrill Edge offer clients access to an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts and Debit Cards are offered by E*TRADE while Merrill Edge offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. On the whole, when it comes to tools, research, and trading on the go, E*TRADE finished with awards for Best in Class - Research and Best in Class - Mobile Trading in 2014, while Merrill Edge came up with Best in Class - Research.
Overall, both E*TRADE and Merrill Edge hold a 4.00 star rating.