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E*TRADE vs Merrill Edge 2019
The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.
Is E*TRADE better than Merrill Edge? After scoring brokers on over 4,000 data points for our 2019 review, E*TRADE (83.68%) is better than Merrill Edge (77.93%). Founded in 1982, E*TRADE is a full-service online broker that charges $6.95 for stock trades with discounts for active traders. While E*TRADE may not offer the cheapest trades, the Power E*TRADE platform is excellent for options trading, and the broker offers two great mobile apps.
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Promo Offer
Trade commission-free for 60 days & get up to $600. Join E*TRADE today! Open Account
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Special Offer
Invest in a new account and get up to $600 Open Account
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| Open Account | Open Account |
Overall Rating
| Feature | E*TRADE | Merrill Edge |
| Overall | ||
| E*TRADE Review | Merrill Edge Review |
Trading Fees
| Feature | E*TRADE | Merrill Edge |
| Minimum Deposit | $500.00 | $0.00 |
| Stock Trade Fee (per trade) | $6.95 | $6.95 |
| ETF Trade Fee | $6.95 | $6.95 |
| Options Base Fee | $6.95 | $6.95 |
| Options Per Contract Fee | $0.75 | $0.75 |
| Mutual Fund Trade Fee | $19.99 | $19.95 |
| Broker Assisted Trades Fee | $25.00 | $29.95 |
| Commissions & Fees | ||
| Winner | check_circle |
Margin Rates
| Feature |
E*TRADE
Open Account |
Merrill Edge
Open Account |
| Under $24,999.99 | 10.50% | 10.63% |
| $25,000.00 to $49,999.99 | 10.25% | 9.50% |
| $50,000.00 to $99,999.99 | 9.75% | 9.50% |
| $100,000.00 to $249,999.99 | 9.25% | 8.13% |
| $250,000.00 to $499,999.99 | 8.75% | 8.13% |
| $500,000.00 to $999,999.99 | 8.25% | 7.88% |
| Above $1,000,000.00 | 7.25% | 7.25% |
| Commissions & Fees | ||
| Winner | check_circle |
Account Fees
| Feature | E*TRADE | Merrill Edge |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $60.00 | $49.95 |
| Returned ACH Fee | $0.00 | $30.00 |
| Returned Wire Fee | $0.00 | N/A |
| Stock Certificate Processing Fee | $0.00 | $500.00 |
| Stock Certificate Delivery Fee | $75.00 | N/A |
| Paper Statement Fee | $2.00 | $5.00 |
| Paper Confirmation Fee | $0.00 | $3.00 |
| Domestic Wire Fee | $25.00 | $24.95 |
| International Wire Fee | $25.00 | $24.95 |
| Commissions & Fees |
Investment Options
| Feature | E*TRADE | Merrill Edge |
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Stock Trading |
Yes | Yes |
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OTCBB / Pink Sheets |
Yes | Yes |
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Options Trading |
Yes | Yes |
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Complex Options Max Legs |
4 | 2 |
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Futures Trading |
Yes | No |
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Forex Trading |
No | No |
| Commission-Free ETFs | 295 | 0 |
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Mutual Funds (No Load) |
6266 | 2471 |
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Mutual Funds (Total) |
9062 | 3709 |
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Bonds (US Treasury) |
Yes | Yes |
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Bonds (Corporate) |
Yes | Yes |
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Bonds (Municipal) |
Yes | Yes |
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Advisor Services |
Yes | Yes |
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International Trading |
No | No |
| Offering of Investments | ||
| Winner | check_circle |
Order Types
| Feature | E*TRADE | Merrill Edge |
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Order Type - Market |
Yes | Yes |
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Order Type - Limit |
Yes | Yes |
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Order Type - Stop |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | Yes |
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Order Type - Contingent |
Yes | No |
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Order Type - MultiContingent |
No | No |
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Order Type - OCO |
Yes | No |
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Order Type - OTO |
Yes | No |
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Order Type - OTOCO |
Yes | No |
| Offering of Investments | ||
| Winner | check_circle |
Trading Platforms
| Feature | E*TRADE | Merrill Edge |
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Desktop Platform (Windows) |
Yes | Yes |
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Desktop Platform (Mac) |
Yes | Yes |
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Web Platform |
Yes | Yes |
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Paper Trading |
Yes | No |
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Trade Journal |
No | No |
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Watch Lists - Total Fields |
125 | 285 |
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Two-Factor Authentication Login |
Yes | Yes |
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Heat Mapping |
No | Yes |
| Platforms & Tools | ||
| Winner | check_circle |
Charting Features
| Feature | E*TRADE | Merrill Edge |
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Charting - Trade Off Chart |
Yes | Yes |
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Charting - Indicators / Studies |
118 | 95 |
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Charting - Drawing Tools |
33 | 22 |
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Charting - Historical Trades |
Yes | Yes |
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Charting - Corporate Events |
Yes | Yes |
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Charting - Automated Analysis |
No | Yes |
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Charting - Save Profiles |
Yes | Yes |
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Charting - Study Customizations |
6 | 8 |
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Charting - Custom Studies |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
Day Trading
| Feature | E*TRADE | Merrill Edge |
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Stock Alerts - Basic Fields |
Yes | Yes |
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Stock Alerts - Advanced Fields |
No | Yes |
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Streaming Time & Sales |
Yes | Yes |
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Streaming TV |
Yes | No |
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Direct Market Routing - Stocks |
Yes | No |
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Direct Market Routing - Options |
Yes | No |
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Ladder Trading |
Yes | No |
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Trade Hot Keys |
Yes | Yes |
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Level 2 Quotes - Stocks |
Yes | Yes |
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Level 2 Quotes - Options |
Yes | Yes |
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Trade Ideas - Backtesting |
Yes | Yes |
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Short Locator |
No | No |
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Client Liquidity Rebates |
No | No |
| Winner | check_circle |
Mobile Trading Apps
| Feature | E*TRADE | Merrill Edge |
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iPhone App |
Yes | Yes |
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Android App |
Yes | Yes |
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Apple Watch App |
Yes | Yes |
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Trading - Stocks |
Yes | Yes |
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Trading - After-Hours |
Yes | Yes |
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Trading - Conditional Orders |
Yes | No |
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Trading - Mutual Funds |
Yes | Yes |
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Trading - Simple Options |
Yes | Yes |
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Trading - Complex Options |
Yes | Yes |
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Trading - Option Rolling |
No | No |
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Touch / Face ID |
Yes | Yes |
| Winner | check_circle |
Mobile App Features
| Feature | E*TRADE | Merrill Edge |
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Watch List Syncing |
Yes | Yes |
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Stock Alerts - Basic Fields |
Yes | Yes |
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Stock Alerts - Advanced Fields |
No | No |
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Charting - After Hours |
Yes | Yes |
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Charting - Drawing |
No | Yes |
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Charting - Study Customizations |
Yes | Yes |
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Customizable Homescreen |
Yes | Yes |
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Heatmapping |
Yes | Yes |
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Stream Live TV |
Yes | No |
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Barcode Lookup |
Yes | No |
| Mobile Trading | ||
| Winner | check_circle |
Research Overview
| Feature | E*TRADE | Merrill Edge |
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Research - Stocks |
Yes | Yes |
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Research - ETFs |
Yes | Yes |
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Research - Mutual Funds |
Yes | Yes |
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Research - Pink Sheets / OTCBB |
Yes | Yes |
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Research - Fixed Income |
Yes | Yes |
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Research - Futures |
Yes | No |
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Research - Forex |
No | No |
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Screener - Stocks |
Yes | Yes |
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Screener - ETFs |
Yes | Yes |
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Screener - Mutual Funds |
Yes | Yes |
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Screener - Options |
Yes | Yes |
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Screener - Bonds |
Yes | Yes |
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Misc - Portfolio Builder |
Yes | Yes |
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Misc - Portfolio Allocation |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Stock Research
| Feature | E*TRADE | Merrill Edge |
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Stock Research - Reports |
4 | 3 |
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Stock Research - Earnings |
Yes | Yes |
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Stock Research - Insiders |
Yes | Yes |
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Stock Research - Metric Comp |
No | Yes |
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Stock Research - SEC Filings |
Yes | Yes |
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Stock Research - Social |
Yes | No |
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Stock Research - Balance Sheet |
Yes | Yes |
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Stock Research - Cash Flows |
Yes | Yes |
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Stock Research - News |
Yes | Yes |
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Stock Research - ESG |
No | Yes |
| Research | ||
| Winner | check_circle |
ETF Research
| Feature | E*TRADE | Merrill Edge |
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ETFs - Strategy Overview |
Yes | Yes |
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ETFs - Top 10 Holdings |
Yes | Yes |
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ETFs - Sector Exposure |
Yes | Yes |
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ETFs - Risk Analysis |
Yes | Yes |
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ETFs - Performance Analysis |
Yes | Yes |
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ETFs - Ratings |
Yes | Yes |
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ETFs - Morningstar StyleMap |
Yes | Yes |
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ETFs - Reports |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Mutual Fund Research
| Feature | E*TRADE | Merrill Edge |
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Mutual Funds - Strategy Overview |
Yes | Yes |
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Mutual Funds - Prospectus |
Yes | Yes |
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Mutual Funds - Reports |
Yes | Yes |
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Mutual Funds - Fees Breakdown |
Yes | Yes |
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Mutual Funds - Top 10 Holdings |
Yes | Yes |
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Mutual Funds - Asset Allocation |
Yes | Yes |
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Mutual Funds - Sector Allocation |
Yes | Yes |
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Mutual Funds - Country Allocation |
Yes | Yes |
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Mutual Funds - StyleMap |
Yes | Yes |
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Mutual Funds - 3rd Party Ratings |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Options Trading
| Feature | E*TRADE | Merrill Edge |
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Option Chains - Streaming |
Yes | Yes |
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Option Chains - Total Columns |
30 | 69 |
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Option Chains - Greeks |
5 | 5 |
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Option Chains - Quick Analysis |
Yes | Yes |
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Option Analysis - P&L Charts |
Yes | Yes |
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Option Probability Analysis |
Yes | Yes |
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Option Probability Analysis Adv |
Yes | No |
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Option Positions - Greeks |
Yes | Yes |
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Option Positions - Adv Analysis |
Yes | Yes |
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Option Positions - Rolling |
Yes | No |
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Option Positions - Grouping |
Yes | Yes |
| Platforms & Tools | ||
| Winner | check_circle |
Beginners
| Feature | E*TRADE | Merrill Edge |
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Has Education - Stocks |
Yes | Yes |
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Has Education - ETFs |
Yes | Yes |
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Has Education - Options |
Yes | Yes |
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Has Education - Mutual Funds |
Yes | Yes |
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Has Education - Fixed Income |
Yes | Yes |
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Has Education - Retirement |
Yes | Yes |
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Paper Trading |
Yes | No |
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Videos |
Yes | Yes |
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Webinars (Monthly Avg) |
12 | 0 |
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Webinars (Archived) |
Yes | No |
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Live Seminars |
Yes | Yes |
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Progress Tracking |
No | No |
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Interactive Learning - Quizzes |
Yes | Yes |
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Investor Magazine |
No | Yes |
| Education | ||
| Winner | check_circle |
Banking
| Feature | E*TRADE | Merrill Edge |
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Retail Locations |
30 | 4400 |
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Member FDIC |
Yes | Yes |
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Checking Accounts |
Yes | Yes |
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Savings Accounts |
Yes | Yes |
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Credit Cards |
No | Yes |
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Debit Cards |
Yes | Yes |
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Mortgage Loans |
No | Yes |
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No Fee Banking |
No | No |
| Banking | ||
| Winner | check_circle |
Overall
| Feature | E*TRADE | Merrill Edge |
| E*TRADE Review | Merrill Edge Review | |
| Overall | ||
| 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 E*TRADE 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. E*TRADE and Merrill Edge have equal fees for trading stocks (equities), $6.95 per trade. For options trading, both E*TRADE and Merrill Edge charge the same base fee of $6.95. Option contracts at both of the brokerages are the same at $0.75 each. 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 supports Stock Trading, Options Trading and Mutual Funds while E*TRADE supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at 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.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. E*TRADE has virtual trading, Merrill Edge doesn't. Taking a look at mobile trading, E*TRADE and Merrill Edge both have a 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. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Merrill Edge while customers at E*TRADE can have Checking Accounts, Savings Accounts and Debit Cards.
Overall, between E*TRADE and Merrill Edge, E*TRADE is the winner.
E*TRADE Review
Merrill Edge Review
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. E*TRADE and Merrill Edge have equal fees for trading stocks (equities), $6.95 per trade. For options trading, both E*TRADE and Merrill Edge charge the same base fee of $6.95. Option contracts at both of the brokerages are the same at $0.75 each. 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 supports Stock Trading, Options Trading and Mutual Funds while E*TRADE supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at 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.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. E*TRADE has virtual trading, Merrill Edge doesn't. Taking a look at mobile trading, E*TRADE and Merrill Edge both have a 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. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Merrill Edge while customers at E*TRADE can have Checking Accounts, Savings Accounts and Debit Cards.
Overall, between E*TRADE and Merrill Edge, E*TRADE is the winner.
E*TRADE 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.
