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E*TRADE vs Merrill Edge 2020

Is E*TRADE better than Merrill Edge? After testing 15 of the best online brokers over five months, E*TRADE (91.53%) is better than Merrill Edge (88.87%). Founded in 1982 as one of the first online brokerages in the United States, E*TRADE understands what investors need to succeed in the market. E*TRADE highlights include $0 trades, two excellent mobile apps, and the Power E*TRADE platform, which is great for options trading.

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Overall Rating

Trading Fees

Feature E*TRADE Merrill Edge
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.65 $0.65
Mutual Fund Trade Fee $19.99 $19.95
Broker Assisted Trades Fee $25.00 $29.95
Commissions & Fees 4.5 4.5
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Margin Rates

Feature E*TRADE Merrill Edge
Under $24,999.99 8.95% 8.63%
$25,000.00 to $49,999.99 8.45% 7.50%
$50,000.00 to $99,999.99 7.95% 7.50%
$100,000.00 to $249,999.99 7.45% N/A
$250,000.00 to $499,999.99 6.95% N/A
$500,000.00 to $999,999.99 6.45% N/A
Above $1,000,000.00 5.45% N/A
Commissions & Fees 4.5 4.5
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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 4.5 4.5

Investment Options

Feature E*TRADE Merrill Edge
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 2
Futures Trading
Yes No
Forex Trading
No No
Commission-Free ETFs all all
Mutual Funds (No Load)
6663 2471
Mutual Funds (Total)
9291 3709
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Advisor Services
Yes Yes
International Trading
No No
Offering of Investments 4.5 3.5
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Order Types

Feature E*TRADE Merrill Edge
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes No
Order Type - MultiContingent
No No
Order Type - OCO
Yes No
Order Type - OTO
Yes No
Order Type - OTOCO
Yes No
Offering of Investments 4.5 3.5
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Trading Platforms

Feature E*TRADE Merrill Edge
Desktop Platform (Windows)
No Yes
Desktop Platform (Mac)
No Yes
Web Platform
Yes Yes
Paper Trading
Yes No
Trade Journal
No No
Watch Lists - Total Fields
125 285
Heat Mapping
No Yes
AI Assistant Bot
No No
Platforms & Tools 4.5 4
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Charting Features

Feature E*TRADE Merrill Edge
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
119 100
Charting - Drawing Tools
32 22
Charting - Historical Trades
Yes Yes
Charting - Corporate Events
Yes Yes
Charting - Automated Analysis
Yes Yes
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
6 8
Charting - Custom Studies
No No
Platforms & Tools 4.5 4
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Day Trading

Feature E*TRADE Merrill Edge
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
No Yes
Streaming Time & Sales
Yes Yes
Streaming TV
Yes No
Direct Market Routing - Stocks
Yes No
Direct Market Routing - Options
Yes No
Ladder Trading
No No
Trade Hot Keys
Yes Yes
Level 2 Quotes - Stocks
Yes Yes
Level 2 Quotes - Options
Yes Yes
Trade Ideas - Backtesting
No Yes
Short Locator
No No
Order Liquidity Rebates
No No
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Mobile Trading Apps

Feature E*TRADE Merrill Edge
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes Yes
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
Yes No
Trading - Mutual Funds
Yes Yes
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
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Mobile App Features

Feature E*TRADE Merrill Edge
Watch List Syncing
Yes Yes
Stock Alerts
Yes Yes
Charting - After Hours
Yes Yes
Charting - Drawing
No Yes
Charting - Study Customizations
Yes Yes
Heatmapping
No Yes
Stream Live TV
Yes No
Barcode Lookup
Yes No
Mobile Trading 5 4
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Research Overview

Feature 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 - Options
Yes Yes
Screener - Bonds
Yes Yes
Misc - Portfolio Builder
Yes Yes
Misc - Portfolio Allocation
Yes Yes
Research 4.5 4.5
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Stock Research

Feature E*TRADE Merrill Edge
Stock Research - Reports
5 3
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
Yes Yes
Stock Research - Metric Comp
No Yes
Stock Research - SEC Filings
Yes Yes
Stock Research - Social
Yes No
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
Yes Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No Yes
Research 4.5 4.5
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ETF Research

Feature E*TRADE Merrill Edge
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes Yes
ETFs - Sector Exposure
Yes Yes
ETFs - Risk Analysis
Yes Yes
ETFs - Performance Analysis
Yes Yes
ETFs - Ratings
Yes Yes
ETFs - Morningstar StyleMap
Yes Yes
ETFs - Reports
Yes Yes
Research 4.5 4.5
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Mutual Fund Research

Feature E*TRADE Merrill Edge
Mutual Funds - Strategy Overview
Yes Yes
Mutual Funds - Prospectus
Yes Yes
Mutual Funds - Reports
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
Mutual Funds - 3rd Party Ratings
Yes Yes
Research 4.5 4.5
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Options Trading

Feature E*TRADE Merrill Edge
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
30 69
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 - Adv Analysis
Yes Yes
Option Positions - Rolling
Yes Yes
Option Positions - Grouping
Yes Yes
Platforms & Tools 4.5 4
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Beginners

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
Education (Retirement)
Yes Yes
Paper Trading
Yes No
Videos
Yes Yes
Webinars (Monthly Avg)
12 0
Webinars (Archived)
Yes No
Live Seminars
Yes Yes
Progress Tracking
No Yes
Interactive Learning - Quizzes
Yes Yes
Education 4 4.5
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Banking

Feature E*TRADE Merrill Edge
Retail Locations
30 4300
Member FDIC
Yes Yes
Checking Accounts
Yes Yes
Savings Accounts
Yes Yes
Credit Cards
No Yes
Debit Cards
Yes Yes
Mortgage Loans
No Yes
No Fee Banking
No No
Banking 4 5
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Overall

Feature E*TRADE Merrill Edge
E*TRADE Review Merrill Edge Review
Overall 4.5 4.5
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Comparing brokers side by side is no easy task. For our 2020 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare E*TRADE vs Merrill Edge.

Is E*TRADE or Merrill Edge better for beginners?
Merrill Edge is better for beginner investors than E*TRADE. Merrill Edge offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Fixed Income) and Education (Retirement).

What about E*TRADE vs Merrill Edge pricing?
E*TRADE and Merrill Edge both cost $0 per trade. With options, the base fee is $0 for both E*TRADE and Merrill Edge. Option contracts run $0.65 a piece at both brokerages. For a complete commissions summary, see our best discount brokers guide.

Does E*TRADE or Merrill Edge offer a wider range of investment options?
E*TRADE offers a more diverse selection of investment options than Merrill Edge. E*TRADE offers investors access to Stock Trading, OTCBB / Pink Sheets, Options Trading, Mutual Funds, Futures Trading and Advisor Services. Looking at Mutual Funds, E*TRADE offers its clients access to 9291 different mutual funds while Merrill Edge has 3709 available funds, a difference of 5,582.

Which trading platform is better: E*TRADE or Merrill Edge?
To compare the trading platforms of both 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. 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 better online broker.

E*TRADE Review
Merrill Edge Review


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All pricing data was obtained from a published web site as of 01/20/2020 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.

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