The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers. This review compares E*TRADE vs Merrill Edge. Is E*TRADE or Merrill Edge a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Merrill Edge, with its regular stock trades costing $6.95, is more expensive than E*TRADE's rate of $0 per trade. Looking at trading options, E*TRADE's base fee is $0 while Merrill Edge's is $6.95. E*TRADE's per contract rate of $0.65 is less than Merrill Edge which charges $0.75. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews.
For our next comparison of these two brokers, 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 provides clients access to Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, E*TRADE offers its clients access to 9062 different mutual funds while Merrill Edge has 3709 available funds, a difference of 5,353.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. E*TRADE offers virtual trading while Merrill Edge does not. For mobile trading, E*TRADE and Merrill Edge both have a iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to clients of Merrill Edge while E*TRADE offers customers Checking Accounts, Savings Accounts and Debit Cards.
Overall, between E*TRADE and Merrill Edge, E*TRADE is the winner.
Merrill Edge Review