Written by StockBrokers.com
In this head to head comparison of E*TRADE vs Merrill Edge, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
If your main goal is to choose the broker with the wider set of investment options, E*TRADE comes out ahead of Merrill Edge. Both brokers support stock trading, margin trading, OTC stocks, mutual funds, options trading, traditional IRAs, Roth IRAs, and advisor services, so either one can work well for everyday investing. The key differences are that E*TRADE also offers fractional shares, futures trading, and crypto trading, while Merrill Edge does not offer those features. For investors who want more flexibility and more ways to build a portfolio, E*TRADE is the stronger choice.
E*TRADE and Merrill Edge both make it easy to buy and sell stocks, trade on margin, and invest in mutual funds and options. Both also support retirement accounts, including traditional and Roth IRAs, which is helpful for long-term planning. If you are looking for basic account types and common market access, both online brokers deliver a similar core experience. That said, E*TRADE adds fractional share investing, which can be useful if you want to start with smaller amounts or buy shares of higher-priced companies without needing to purchase a full share.
Looking at ratings and rankings, E*TRADE also holds the edge in Range of Investments, with 4.5 out of 5 stars and a #4 ranking out of 14 brokers from StockBrokers.com. Merrill Edge is close behind at 4 out of 5 stars and #7 out of 14. Neither broker offers forex trading, so traders looking for currency markets will need another platform. Overall, E*TRADE is the better pick for investors who want more account investment options, while Merrill Edge remains a solid choice for those who want a simpler lineup of standard investing tools.
| Feature |
E*TRADE
|
Merrill Edge
|
|---|---|---|
| Stock Trading | Yes | Yes |
| Account Feature - Margin Trading | Yes | Yes |
| Fractional Shares (Stocks) | Yes | No |
| OTC Stocks | Yes | Yes |
| Mutual Funds | Yes | Yes |
| Options Trading | Yes | Yes |
| Futures Trading | Yes | No |
| Crypto Trading | Yes | No |
| Crypto Trading - Total Coins | 3 | 0 |
| Range of Investments |
|
|
Dive deeper: Best Options Trading Platforms & Brokers for 2026, Best Futures Trading Platforms for 2026
Bottom line: In the head-to-head matchup of trading platforms and tools, E*TRADE has the edge thanks to its downloadable desktop platforms for both Windows and Mac and the inclusion of paper trading. Merrill Edge counters with excellent watchlist depth, but it lacks a desktop app. Reflecting this, E*TRADE earns 4 stars and ranks #6 out of 14 brokers for platforms and tools at StockBrokers.com, while Merrill Edge holds 3.5 stars and ranks #7.
Platform access is a key divider. E*TRADE offers a downloadable platform for Windows and Mac, plus a browser-based experience. Merrill Edge delivers a capable browser-based platform but no desktop download for either Windows or Mac. E*TRADE also includes paper trading for practice; Merrill Edge does not. Neither broker provides a built-in trading journal.
On tools, each broker lets you adjust open orders right on the chart, add notes, view historical trades, display earnings/splits/dividends, set custom date ranges, auto-detect chart patterns, and save multiple chart profiles. E*TRADE supplies 121 technical indicators and 37 drawing tools, while Merrill Edge offers 105 indicators and 23 drawing tools. Watchlists swing toward Merrill Edge with 285 available fields versus E*TRADE’s 43. Editing an SMA study provides 8 customization fields at both brokers, and neither supports creating fully custom studies.
| Feature |
E*TRADE
|
Merrill Edge
|
|---|---|---|
| Web Trading Platform | Yes | Yes |
| Desktop Trading Platform | Yes | No |
| Desktop Platform (Mac) | Yes | No |
| Paper Trading | Yes | No |
| Watchlists - Total Fields | 43 | 285 |
| Charting - Indicators / Studies | 121 | 105 |
| Charting - Drawing Tools | 37 | 23 |
| Advanced Trading |
|
|
Dive deeper: Best Brokerage Accounts and Online Stock Brokers for 2026, Best Paper Trading Apps and Simulators for 2026
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E*TRADE and Merrill Edge both cover the core investing topics beginners look for, including stocks, ETFs, options, mutual funds, and bonds. Each platform offers educational videos and live webinars. The key differences: E*TRADE includes paper trading for hands-on practice, while Merrill Edge does not; Merrill Edge offers quizzes to test your knowledge, while E*TRADE does not. Neither platform currently lets you track your learning progress.
Both brokers earn 4 stars for education. In StockBrokers.com’s rankings of 14 brokers, E*TRADE places #5 and Merrill Edge is close behind at #6. If you want to practice strategies in a risk-free setting, E*TRADE’s paper trading could be a deciding factor. If you prefer checking your understanding with quizzes, Merrill Edge has an edge there. Either way, beginner investors will find broad topic coverage and multiple ways to learn.
| Feature |
E*TRADE
|
Merrill Edge
|
|---|---|---|
| Education (Stocks) | Yes | Yes |
| Education (ETFs) | Yes | Yes |
| Education (Options) | Yes | Yes |
| Education (Mutual Funds) | Yes | Yes |
| Education (Fixed Income) | Yes | Yes |
| Videos | Yes | Yes |
| Webinars | Yes | Yes |
| Education |
|
|
Dive deeper: Best Trading Platforms and Brokerage Accounts for Beginners in 2026
If you want the stronger stock trading app overall, E*TRADE comes out ahead of Merrill Edge. Both brokers offer iPhone and Android apps, plus useful mobile tools like stock alerts, streaming quotes, custom watch lists, after-hours charting, landscape chart views, and options trading. But E*TRADE adds a few key advantages, including Apple Watch support, mobile after-hours stock trading, streaming live TV, and more charting tools. It is also rated higher for stock trading apps, with 4.5 stars versus Merrill Edge’s 4 stars, and it ranks #5 out of 14 brokers compared with Merrill Edge’s #9 ranking.
In day-to-day app use, both platforms cover the basics well, so either one can work for active stock traders who want to monitor markets and place trades from a phone. Each app supports streaming quotes, stock alerts, mobile options trading, after-hours charting, multiple chart time frames, and stock comparison charts. They also both let users build custom watch lists, which can help keep track of favorite stocks in one place.
The biggest difference is in depth and convenience. E*TRADE offers custom watch list columns, Apple Watch access, and 107 technical studies for charting in its mobile app, while Merrill Edge does not offer Apple Watch support and includes 34 technical studies. For investors who care most about a fuller set of mobile trading tools and more chart detail, E*TRADE is the better choice.
| Feature |
E*TRADE
|
Merrill Edge
|
|---|---|---|
| iPhone App | Yes | Yes |
| Android App | Yes | Yes |
| Apple Watch App | Yes | No |
| Stock Alerts | Yes | Yes |
| Charting - After-Hours | Yes | Yes |
| Charting - Technical Studies | 107 | 34 |
| Mobile Trading Apps |
|
|
Dive deeper: Best Stock Trading Apps of 2026
E*TRADE and Merrill Edge are closely matched when it comes to everyday account costs. Both brokers have a $0 minimum deposit, $0 stock trade commissions, and a $0.65 fee per options contract. IRA annual fees are also $0 at both firms, and neither charges an options exercise fee or options assignment fee. The biggest overall difference is in the extras: E*TRADE charges $75 for a full account transfer, while Merrill Edge charges $0. On the other hand, Merrill Edge has a $49.95 IRA closure fee, which E*TRADE does not charge.
For margin borrowing, E*TRADE publishes clear rates while Merrill Edge lists its margin rates as varying. E*TRADE charges 12.45% on margin balances below $25,000, 12.2% on balances from $25,000 to $49,999, and 11.7% on balances from $50,000 to $99,999. Since Merrill Edge does not provide a fixed rate in the same way here, comparing margin costs is less direct and may depend on account details, balance size, and other factors.
In short, both online brokers keep core investing fees low, especially for stock and options trading. If you want a broker with no full transfer fee, Merrill Edge has the edge there. If you are concerned about IRA closure costs, E*TRADE is the more affordable choice. For investors focused on basic trading fees, the two brokers are very similar.
| Feature |
E*TRADE
|
Merrill Edge
|
|---|---|---|
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trades | $0.00 | $0.00 |
| Options (Per Contract) | $0.65 | $0.65 |
| Options Exercise Fee | $0.00 | $0.00 |
| Options Assignment Fee | $0.00 | $0.00 |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $0.00 | $49.95 |
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When comparing the day trading features of E*TRADE and Merrill Edge, E*TRADE stands out in several areas that are essential for active traders. E*TRADE provides excellent resources, including streaming time and sales for stocks, which is matched by Merrill Edge. However, E*TRADE enhances the experience with streaming live TV, a feature that Merrill Edge lacks. E*TRADE also allows direct market routing for stocks, providing greater flexibility in executing trades, while Merrill Edge does not offer this option. Adding to E*TRADE's appeal is the support for trading hotkeys, enabling swift keyboard trade entries, a tool not available with Merrill Edge. Both platforms provide access to level 2 quotes, essential for understanding market depth.
In contrast, Merrill Edge offers a feature that E*TRADE does not: basic strategy backtesting, which allows traders to test their strategies using historical data, although neither platform provides advanced strategy backtesting. Neither E*TRADE nor Merrill Edge offers ladder trading, a short locator tool, or order liquidity rebates. For traders who prioritize direct market routing and integrated features like streaming TV and the use of hotkeys, E*TRADE may be the preferable choice. However, for those who value backtesting capabilities, Merrill Edge might offer a slight edge despite its more limited range of trading tools.
| Feature |
E*TRADE
|
Merrill Edge
|
|---|---|---|
| Streaming Time & Sales | Yes | Yes |
| Streaming TV | Yes | No |
| Direct Market Routing - Equities | Yes | No |
| Level 2 Quotes - Stocks | Yes | Yes |
| Trade Ideas - Backtesting | No | Yes |
| Trade Ideas - Backtesting Adv | No | No |
| Short Locator | No | No |
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E*TRADE and Merrill Edge both do well for market research, and for many everyday investors the two look very similar on the basics. Each platform offers research on stocks, ETFs, mutual funds, Pink Sheets/OTCBB, and bonds, plus tools like portfolio allocation by asset class and screeners for stocks, ETFs, mutual funds, and bonds. Both brokers also earn 4.5 out of 5 stars for market research, so either one can be a solid choice if you want a wide set of research tools in one place.
Where E*TRADE pulls ahead is in a few extra research features that may matter to more active users. E*TRADE includes stock research using social media sentiment data and ESG research, while Merrill Edge does not offer those options. E*TRADE also provides more downloadable PDF stock research reports, with 8 compared with Merrill Edge’s 3, which may give investors more outside viewpoints when comparing companies.
For overall market research standing, E*TRADE also has a slight edge in StockBrokers.com’s ranking, placing #3 out of 14 brokers versus Merrill Edge at #4. Still, both platforms offer strong screening tools and broad coverage across major asset types, so the better pick may come down to whether you want E*TRADE’s extra research depth or Merrill Edge’s similar core tools with a slightly different platform experience.
| Feature |
E*TRADE
|
Merrill Edge
|
|---|---|---|
| Research - Stocks | Yes | Yes |
| Screener - Stocks | Yes | Yes |
| Research - ETFs | Yes | Yes |
| Screener - ETFs | Yes | Yes |
| Research - Mutual Funds | Yes | Yes |
| Screener - Mutual Funds | Yes | Yes |
| Research - Fixed Income | Yes | Yes |
| Screener - Fixed Income | Yes | Yes |
| Research |
|
|
When comparing the banking capabilities of online brokers E*TRADE and Merrill Edge, both platforms offer an extensive range of services to meet diverse financial needs. E*TRADE allows customers to open checking accounts, savings accounts, and CDs, while also providing debit and credit card options. Additionally, E*TRADE users can explore mortgage loans to finance their home purchases. Similarly, Merrill Edge matches these offerings with its own suite of financial products, including checking and savings accounts, CDs, and both debit and credit cards, along with mortgage loan services. This comprehensive suite of banking options across both E*TRADE and Merrill Edge enables users to manage their finances with flexibility and ease.
| Feature |
E*TRADE
|
Merrill Edge
|
|---|---|---|
| Checking Accounts | Yes | Yes |
| Savings Accounts | Yes | Yes |
| Debit Cards | Yes | Yes |
| Credit Cards | Yes | Yes |
| Mortgage Loans | Yes | Yes |
| Brokerage CDs | Yes | Yes |
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After opening live accounts and testing 14 of the best online brokers, our research and live account testing finds that E*TRADE is better than Merrill Edge. E*TRADE finished with an overall score of 86.0%, while Merrill Edge finished with a score of 81.9%.
With two distinct platforms (E*TRADE Web and Power E*TRADE) the broker effectively serves both the "set-it-and-forget-it" investor and the high-volume derivatives trader. Whether you aim to construct a long-term retirement portfolio or deploy complex options strategies, E*TRADE provides a sophisticated, dependable environment that grows with your ambition.
E*TRADE is the better choice for crypto trading, offering access to 3 coins, while Merrill Edge does not support crypto trading at all. For investors looking to trade digital assets through an online broker, E*TRADE provides a clear advantage over Merrill Edge.
Dive deeper: Best Online Brokers for Crypto Trading in 2026
Both E*TRADE and Merrill Edge offer traditional and Roth IRA accounts with no annual fees, but while E*TRADE charges no fee for closing an IRA account, Merrill Edge imposes a closure fee of $49.95.
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0 of 5| Overall Rating | E*TRADE | Merrill Edge | |
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| Winner | check_circle | ||
| Review | E*TRADE Review | Merrill Edge Review |
| Broker Screenshots | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Trading Fees | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Minimum Deposit | $0.00 | $0.00 | |
| Stock Trades | $0.00 | $0.00 | |
| Penny Stock Fees (OTC) | $6.950 | N/A | |
| Mutual Fund Trade Fee | $0.00 | Varies | |
| Options (Per Contract) | $0.65 | $0.65 | |
| Futures (Per Contract) | $1.50 | (Not offered) | |
| Broker Assisted Trade Fee | $25 | $29.95 |
| Margin Rates | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Margin Rate Under $25,000 | 12.45% | Varies | |
| Margin Rate $25,000 to $49,999.99 | 12.2% | Varies | |
| Margin Rate $50,000 to $99,999.99 | 11.7% | Varies | |
| Margin Rate $100,000 to $249,999.99 | 11.2% | Varies | |
| Margin Rate $250,000 to $499,999.99 | 10.7% | Varies | |
| Margin Rate $500,000 to $999,999.99 | Varies | Varies | |
| Margin Rate Above $1,000,000 | Varies | Varies |
| Account Fees | E*TRADE | Merrill Edge | |
|---|---|---|---|
| IRA Annual Fee | $0.00 | $0.00 | |
| IRA Closure Fee | $0.00 | $49.95 | |
| Account Transfer Out (Partial) | $0.00 | $0.00 | |
| Account Transfer Out (Full) | $75.00 | $0.00 | |
| Options Exercise Fee | $0.00 | $0.00 | |
| Options Assignment Fee | $0.00 | $0.00 |
| Investment Options | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Stock Trading | Yes | Yes | |
| Account Feature - Margin Trading | Yes | Yes | |
| Fractional Shares (Stocks) | Yes | No | |
| OTC Stocks | Yes | Yes | |
| Options Trading | Yes | Yes | |
| Complex Options Max Legs | 4 | 4 | |
| Futures Trading | Yes | No | |
| Forex Trading | No | No | |
| Crypto Trading | Yes | No | |
| Crypto Trading - Total Coins | 3 | 0 | |
| Fixed Income (Treasurys) | Yes | Yes | |
| Fixed Income (Corporate Bonds) | Yes | Yes | |
| Fixed Income (Municipal Bonds) | Yes | Yes | |
| Traditional IRAs | Yes | Yes | |
| Roth IRAs | Yes | Yes | |
| Advisor Services | Yes | Yes | |
| International Countries (Stocks) | 0 | 0 |
| Order Types | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Order Type - Market | Yes | Yes | |
| Order Type - Limit | Yes | Yes | |
| Order Type - After Hours | Yes | Yes | |
| Order Type - Stop | Yes | Yes | |
| Order Type - Trailing Stop | Yes | Yes | |
| Order Type - OCO | Yes | No | |
| Order Type - OTO | Yes | No | |
| Order Type - Broker Assisted | Yes | Yes |
| Beginners | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Education (Stocks) | Yes | Yes | |
| Education (ETFs) | Yes | Yes | |
| Education (Options) | Yes | Yes | |
| Education (Mutual Funds) | Yes | Yes | |
| Education (Fixed Income) | Yes | Yes | |
| Education (Retirement) | Yes | Yes | |
| Retirement Calculator | Yes | Yes | |
| Investor Dictionary | Yes | Yes | |
| Paper Trading | Yes | No | |
| Videos | Yes | Yes | |
| Webinars | Yes | Yes | |
| Progress Tracking | No | No | |
| Interactive Learning - Quizzes | No | Yes |
| Stock Trading Apps | E*TRADE | Merrill Edge | |
|---|---|---|---|
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Apple Watch App | Yes | No | |
| Trading - Stocks | Yes | Yes | |
| Trading - After-Hours | Yes | Yes | |
| Trading - Simple Options | Yes | Yes | |
| Trading - Complex Options | Yes | Yes | |
| Order Ticket RT Quotes | Yes | Yes | |
| Order Ticket SRT Quotes | Yes | No |
| Stock App Features | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Mobile Research - Market Movers | Yes | Yes | |
| Stream Live TV | Yes | No | |
| Videos on Demand | No | No | |
| Stock Alerts | Yes | Yes | |
| Option Chains Viewable | Yes | Yes | |
| Watchlist (Real-time) | Yes | Yes | |
| Watchlist (Streaming) | Yes | Yes | |
| Mobile Watchlists - Create & Manage | Yes | Yes | |
| Mobile Watchlists - Column Customization | Yes | No |
| Stock App Charting | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Charting - After-Hours | Yes | Yes | |
| Charting - Can Turn Horizontally | Yes | Yes | |
| Charting - Multiple Time Frames | Yes | Yes | |
| Charting - Technical Studies | 107 | 34 | |
| Charting - Study Customizations | Yes | Yes | |
| Charting - Stock Comparisons | Yes | Yes |
| Trading Platforms | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Active Trading Platform | Power E*TRADE | Merrill Edge Market Pro | |
| Desktop Trading Platform | Yes | No | |
| Desktop Platform (Mac) | Yes | No | |
| Web Trading Platform | Yes | Yes | |
| Paper Trading | Yes | No | |
| Trade Journal | No | No | |
| Watchlists - Total Fields | 43 | 285 |
| Stock Chart Features | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Charting - Adjust Trades on Chart | Yes | Yes | |
| Charting - Indicators / Studies | 121 | 105 | |
| Charting - Drawing Tools | 37 | 23 | |
| Charting - Notes | Yes | Yes | |
| Charting - Historical Trades | Yes | Yes | |
| Charting - Corporate Events | Yes | Yes | |
| Charting - Custom Date Range | Yes | Yes | |
| Charting - Custom Time Bars | No | Yes | |
| Charting - Automated Analysis | Yes | Yes | |
| Charting - Save Profiles | Yes | Yes | |
| Trade Ideas - Technical Analysis | Yes | Yes | |
| Charting - Study Customizations | 8 | 8 | |
| Charting - Custom Studies | No | No |
| Day Trading | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Streaming Time & Sales | Yes | Yes | |
| Streaming TV | Yes | No | |
| Direct Market Routing - Equities | Yes | No | |
| Ladder Trading | No | No | |
| Trade Hot Keys | Yes | No | |
| Level 2 Quotes - Stocks | Yes | Yes | |
| Trade Ideas - Backtesting | No | Yes | |
| Trade Ideas - Backtesting Adv | No | No | |
| Short Locator | No | No | |
| Order Liquidity Rebates | No | No |
| Research Overview | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Research - Stocks | Yes | Yes | |
| Research - ETFs | Yes | Yes | |
| Research - Mutual Funds | Yes | Yes | |
| Research - Pink Sheets / OTCBB | Yes | Yes | |
| Research - Fixed Income | Yes | Yes | |
| Screener - Stocks | Yes | Yes | |
| Screener - ETFs | Yes | Yes | |
| Screener - Mutual Funds | Yes | Yes | |
| Screener - Fixed Income | Yes | Yes | |
| Portfolio Asset Allocation | Yes | Yes |
| Stock Research | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Stock Research - PDF Reports | 8 | 3 | |
| Stock Research - Earnings | Yes | Yes | |
| Stock Research - Insiders | Yes | Yes | |
| Stock Research - Social | Yes | No | |
| Stock Research - News | Yes | Yes | |
| Stock Research - ESG | Yes | No | |
| Stock Research - SEC Filings | Yes | Yes |
| ETF Research | E*TRADE | Merrill Edge | |
|---|---|---|---|
| ETFs - Investment Objective | Yes | Yes | |
| ETF Fund Facts - Inception Date | Yes | Yes | |
| ETF Fund Facts - Expense Ratio | Yes | Yes | |
| ETF Fund Facts - Total Assets | Yes | Yes | |
| ETF Fund Facts - Total Holdings | Yes | Yes | |
| ETFs - Top 10 Holdings | Yes | Yes | |
| ETFs - Sector Exposure | Yes | Yes | |
| ETFs - Risk Analysis | Yes | Yes | |
| ETFs - Ratings | Yes | Yes | |
| ETFs - Morningstar StyleMap | Yes | Yes | |
| ETFs - PDF Reports | Yes | Yes |
| Mutual Fund Research | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Mutual Funds - Investment Objective | Yes | Yes | |
| Mutual Funds - Performance Chart | Yes | Yes | |
| Mutual Funds - Performance Analysis | Yes | Yes | |
| Mutual Funds - Prospectus | Yes | Yes | |
| Mutual Funds - 3rd Party Ratings | Yes | Yes | |
| Mutual Funds - Fees Breakdown | Yes | Yes | |
| Mutual Funds - Top 10 Holdings | Yes | Yes | |
| Mutual Funds - Asset Allocation | Yes | Yes | |
| Mutual Funds - Sector Allocation | Yes | Yes | |
| Mutual Funds - Country Allocation | Yes | Yes | |
| Mutual Funds - StyleMap | Yes | Yes |
| Options Trading | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Option Chains - Total Greeks | 5 | 5 | |
| Option Analysis - P&L Charts | Yes | Yes |
| Banking | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Bank (Member FDIC) | Yes | Yes | |
| Checking Accounts | Yes | Yes | |
| Savings Accounts | Yes | Yes | |
| Credit Cards | Yes | Yes | |
| Debit Cards | Yes | Yes | |
| Mortgage Loans | Yes | Yes |
| Customer Service | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Phone Support (Prospective Customers) | Yes | Yes | |
| Phone Support (Current Customers) | Yes | Yes | |
| Email Support | No | No | |
| Live Chat (Prospective Customers) | No | Yes | |
| Live Chat (Current Customers) | Yes | Yes | |
| 24/7 Support | Yes | Yes |
| Overall | E*TRADE | Merrill Edge | |
|---|---|---|---|
| Overall |
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| Range of Investments |
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| Advanced Trading |
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| Mobile Trading Apps |
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| Research |
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| Education |
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| Ease of Use |
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| Winner | check_circle | ||
| Review | E*TRADE Review | Merrill Edge Review |
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