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E*TRADE vs Merrill Edge 2023

StockBrokers.com

Written by StockBrokers.com

January 23, 2023

Is E*TRADE better than Merrill Edge? After testing 17 of the best online brokers over three months, E*TRADE (96.39%) is better than Merrill Edge (95.25%). E*TRADE is a top-performing broker whose highlights include $0 trades, two excellent mobile apps and the Power E*TRADE platform. Crypto, however, is not available.

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Overall RatingE*TRADEMerrill Edge
Overall 5/5 Stars 5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 5/5 Stars
Research 5/5 Stars 5/5 Stars
Customer Service 4.0/5 Stars 4.0/5 Stars
Education 5/5 Stars 5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review E*TRADE Review Merrill Edge Review
Trading FeesE*TRADEMerrill Edge
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTCCB) $6.95 N/A
Mutual Fund Trade Fee $0.00 $19.95
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.65
Futures (Per Contract) $1.50 N/A
Broker Assisted Trade Fee $25 $29.95
Margin RatesE*TRADEMerrill Edge
Margin Rate Under $25,000 11.95% Varies
Margin Rate $25,000 to $49,999.99 11.45% Varies
Margin Rate $50,000 to $99,999.99 10.95% Varies
Margin Rate $100,000 to $249,999.99 10.45% Varies
Margin Rate $250,000 to $499,999.99 9.95% Varies
Margin Rate $500,000 to $999,999.99 9.45% Varies
Margin Rate Above $1,000,000 8.45% Varies
Account FeesE*TRADEMerrill Edge
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $49.95
Account Transfer Out (Partial) $25.00 $0.00
Account Transfer Out (Full) $75.00 $49.95
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment OptionsE*TRADEMerrill Edge
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares No No
OTCBB / Pink Sheets Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading Yes No
Forex Trading No No
Crypto Trading No No
Crypto Trading - Total Coins 0 0
Mutual Funds (No Load) 6486 2952
Mutual Funds (Total) 7242 3466
Bonds (US Treasury) Yes Yes
Bonds (Corporate) Yes Yes
Bonds (Municipal) Yes Yes
Advisor Services Yes Yes
International Countries (Stocks) 0 0
Order TypesE*TRADEMerrill 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
BeginnersE*TRADEMerrill Edge
Education (Stocks) Yes Yes
Education (ETFs) Yes Yes
Education (Options) Yes Yes
Education (Mutual Funds) Yes Yes
Education (Bonds) Yes Yes
Education (Retirement) Yes Yes
Retirement Calculator Yes Yes
Investor Dictionary Yes Yes
Paper Trading Yes No
Videos Yes Yes
Webinars Yes Yes
Webinars (Archived) Yes Yes
Progress Tracking No No
Interactive Learning - Quizzes Yes Yes
Stock Trading AppsE*TRADEMerrill Edge
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes Yes
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 FeaturesE*TRADEMerrill Edge
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes No
Videos on Demand No No
Stock Alerts Yes Yes
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) Yes Yes
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization Yes No
Watch Lists - Total Fields 95 285
Stock App ChartingE*TRADEMerrill Edge
Charting - After-Hours Yes No
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 10 34
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons Yes Yes
Trading PlatformsE*TRADEMerrill Edge
Active Trading Platform Power E*TRADE Merrill Edge Market Pro
Desktop Trading Platform No No
Desktop Platform (Mac) No No
Web Trading Platform Yes Yes
Paper Trading Yes No
Trade Journal No No
Watch Lists - Total Fields 95 285
Stock Chart FeaturesE*TRADEMerrill Edge
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 119 104
Charting - Drawing Tools 31 23
Charting - Notes Yes Yes
Charting - Index Overlays 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 6 8
Charting - Custom Studies No No
Day TradingE*TRADEMerrill Edge
Streaming Time & Sales Yes Yes
Streaming TV Yes No
Direct Market Routing - Stocks 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 OverviewE*TRADEMerrill Edge
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes Yes
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes Yes
Screener - Stocks Yes Yes
Screener - ETFs Yes Yes
Screener - Mutual Funds Yes Yes
Screener - Bonds Yes Yes
Misc - Portfolio Allocation Yes Yes
Stock ResearchE*TRADEMerrill Edge
Stock Research - PDF Reports 6 3
Stock Research - Earnings Yes Yes
Stock Research - Insiders Yes Yes
Stock Research - Social Yes No
Stock Research - News Yes Yes
Stock Research - ESG No Yes
Stock Research - SEC Filings Yes Yes
ETF ResearchE*TRADEMerrill Edge
ETFs - Strategy Overview Yes Yes
ETF Fund Facts - Inception Date Yes Yes
ETF Fund Facts - Expense Ratio Yes Yes
ETF Fund Facts - Net 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 ResearchE*TRADEMerrill Edge
Mutual Funds - Strategy Overview Yes Yes
Mutual Funds - Performance Chart No 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 TradingE*TRADEMerrill Edge
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 31 68
Option Chains - Greeks 5 5
Option Chains - Quick Analysis Yes Yes
Option Analysis - P&L Charts Yes Yes
Option Probability Analysis Yes Yes
Option Probability Analysis Adv Yes No
Option Positions - Greeks Yes Yes
Option Positions - Greeks Streaming Yes Yes
Option Positions - Adv Analysis Yes Yes
Option Positions - Rolling Yes Yes
Option Positions - Grouping Yes Yes
BankingE*TRADEMerrill 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 ServiceE*TRADEMerrill Edge
Phone Support (Prospect Customers) Yes Yes
Phone Support (Current Customers) Yes Yes
Email Support Yes Yes
Live Chat (Prospect Customers) No Yes
Live Chat (Current Customers) Yes Yes
24/7 Support Yes Yes
OverallE*TRADEMerrill Edge
Overall 5/5 Stars 5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 5/5 Stars
Research 5/5 Stars 5/5 Stars
Education 5/5 Stars 5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review E*TRADE Review Merrill Edge Review
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E*TRADE vs Merrill Edge Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare E*TRADE vs Merrill Edge.

Is E*TRADE or Merrill Edge better for beginners?

E*TRADE offers more comprehensive new investor education for beginner investors than Merrill Edge. E*TRADE offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while Merrill Edge offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement).

What about E*TRADE vs Merrill Edge pricing?

E*TRADE and Merrill Edge charge the same amount for regular stock trades, $0.00. E*TRADE and Merrill Edge both charge $0.65 per option contract. For a complete commissions summary, see our best brokers for free stock trading guide.

Does E*TRADE or Merrill Edge offer a wider range of investment options?

E*TRADE offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds, Futures Trading and Advisor Services, while Merrill Edge offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Advisor Services, neither have Fractional Shares and Forex Trading. Looking at Mutual Funds, Merrill Edge trails E*TRADE in its offering of no transaction fee (NTF) mutual funds, with E*TRADE offering 4377 and Merrill Edge offering 3095.

Which trading platform is better: E*TRADE or Merrill Edge?

To compare the trading platforms of E*TRADE and Merrill Edge, 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 available to customers of E*TRADE and Merrill Edge.

Is E*TRADE good?

E*TRADE is a top-performing broker whose highlights include $0 trades, two excellent mobile apps and the Power E*TRADE platform. Crypto, however, is not available.

Is Merrill Edge good?

Merrill Edge and its parent, Bank of America, make for a well-rounded offering, with $0 trades, robust research, reliable customer service; and its Stock Stories and Fund Stories are an industry standout. There are some gaps in investment offerings, including crypto and futures.

E*TRADE vs Merrill Edge Winner

Overall winner: E*TRADE

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