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Merrill Edge vs Fidelity 2020

Is Fidelity better than Merrill Edge? After testing 15 of the best online brokers over five months, Fidelity (95%) is better than Merrill Edge (88.87%). Fidelity is a value-driven online broker offering $0 stock trades, industry-leading research, excellent trading tools, an easy-to-use mobile app, and comprehensive retirement services. Serving over 30 million customers, Fidelity is a winner for everyday investors.

Special Offer Get up to $600 when you invest in a new Merril Edge Self-Directed account. Open Account
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Overall Rating

Trading Fees

Feature Merrill Edge Fidelity
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 $19.95 $49.95
Broker Assisted Trades Fee $29.95 $32.95
Commissions & Fees 4.5 4.5
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Margin Rates

Feature Merrill Edge Fidelity
Under $24,999.99 10.13% 9.33%
$25,000.00 to $49,999.99 9.00% 8.83%
$50,000.00 to $99,999.99 9.00% 7.88%
$100,000.00 to $249,999.99 7.63% 7.83%
$250,000.00 to $499,999.99 7.63% 7.58%
$500,000.00 to $999,999.99 7.38% 5.25%
Above $1,000,000.00 6.75% 5.00%
Commissions & Fees 4.5 4.5
Winner check_circle

Account Fees

Feature Merrill Edge Fidelity
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $49.95 $0.00
Returned ACH Fee $30.00 $0.00
Returned Wire Fee N/A $0.00
Stock Certificate Processing Fee $500.00 $0.00
Stock Certificate Delivery Fee N/A $100.00
Paper Statement Fee $5.00 $0.00
Paper Confirmation Fee $3.00 $0.00
Domestic Wire Fee $24.95 $0.00
International Wire Fee $24.95 $0.00
Commissions & Fees 4.5 4.5

Investment Options

Feature Merrill Edge Fidelity
Stock Trading
Yes Yes
Fractional Shares
No Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
2 4
Futures Trading
No No
Forex Trading
No No
Commission-Free ETFs all all
Mutual Funds (No Load)
2471 3957
Mutual Funds (Total)
3709 11246
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Interest Sharing
No Yes
Advisor Services
Yes Yes
International Trading
No Yes
Offering of Investments 3.5 4.5
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Order Types

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

Feature Merrill Edge Fidelity
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
Yes Yes
Web Platform
Yes Yes
Paper Trading
No No
Trade Journal
No Yes
Watch Lists - Total Fields
285 91
Heat Mapping
Yes Yes
AI Assistant Bot
No Yes
Platforms & Tools 4 4.5
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Charting Features

Feature Merrill Edge Fidelity
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
100 166
Charting - Drawing Tools
22 22
Charting - Historical Trades
Yes Yes
Charting - Corporate Events
Yes Yes
Charting - Automated Analysis
Yes Yes
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
8 5
Charting - Custom Studies
No No
Platforms & Tools 4 4.5
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Day Trading

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

Mobile Trading Apps

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

Feature Merrill Edge Fidelity
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 5
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Stock Research

Feature Merrill Edge Fidelity
Stock Research - Reports
3 16
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
Yes Yes
Stock Research - Metric Comp
Yes Yes
Stock Research - SEC Filings
Yes Yes
Stock Research - Social
No Yes
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
Yes Yes
Stock Research - News
Yes Yes
Stock Research - ESG
Yes Yes
Research 4.5 5
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ETF Research

Feature Merrill Edge Fidelity
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 5
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Mutual Fund Research

Feature Merrill Edge Fidelity
Mutual Funds - Strategy Overview
Yes Yes
Mutual Funds - Prospectus
Yes Yes
Mutual Funds - Reports
Yes No
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 5
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Options Trading

Feature Merrill Edge Fidelity
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
69 26
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
No Yes
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes Yes
Option Positions - Rolling
Yes Yes
Option Positions - Grouping
Yes Yes
Platforms & Tools 4 4.5
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Beginners

Feature Merrill Edge Fidelity
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
No No
Videos
Yes Yes
Webinars (Monthly Avg)
0 8
Webinars (Archived)
No Yes
Live Seminars
Yes Yes
Progress Tracking
Yes Yes
Interactive Learning - Quizzes
Yes Yes
Investor Magazine
Yes Yes
Education 4.5 5
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Banking

Feature Merrill Edge Fidelity
Retail Locations
4300 197
Member FDIC
Yes No
Checking Accounts
Yes Yes
Savings Accounts
Yes Yes
Credit Cards
Yes Yes
Debit Cards
Yes Yes
Mortgage Loans
Yes No
No Fee Banking
No Yes
Banking 5 4
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Overall

Feature Merrill Edge Fidelity
Merrill Edge Review Fidelity Review
Overall 4.5 5
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Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Fidelity vs Merrill Edge to determine which broker is best. Let's dive in.

First, we will break down the commission charges of both brokers for placing stock and options trades. Fidelity and Merrill Edge have equal fees for trading stocks (equities), $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Option contracts cost $0.65 each at both brokerages. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.

Next, investors want to make sure they can trade the investment vehicle they want. Both Fidelity and Merrill Edge support Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Merrill Edge trails Fidelity by 7,537 total mutual funds, with Fidelity offering 11246 and Merrill Edge offering 3709.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Neither broker offers virtual trading. For mobile trading, Both Fidelity and Merrill Edge offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Merrill Edge while Fidelity offers Checking Accounts, Savings Accounts, Debit Cards and Credit Cards.

Overall, between Fidelity and Merrill Edge, Fidelity is the winner.

Fidelity Review
Merrill Edge Review



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.

1$0.00 commission applies to online U.S. equity trades, exchange-traded funds (ETFs), and options (+ $0.65 per contract fee) in a Fidelity retail account only for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (from $0.01 to $0.03 per $1,000 of principal). There is an Options Regulatory Fee (from $0.03 to $0.05 per contract), which applies to both option buy and sell transactions. The fee is subject to change. Other exclusions and conditions may apply. See Fidelity.com/commissions for details. Employee equity compensation transactions and accounts managed by advisors or intermediaries through Fidelity Clearing & Custody SolutionsĀ® are subject to different commission schedules.

Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Before trading options, please read Characteristics and Risks of Standardized Options. Supporting documentation for any claims, if applicable, will be furnished upon request.

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