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Fidelity vs Merrill Edge 2022

StockBrokers.com

Written by StockBrokers.com

November 02, 2022

Is Fidelity better than Merrill Edge? After testing 15 of the best online brokers over six months, Fidelity (95.57%) is better than E*TRADE (92.52%). Fidelity is a value-driven online broker offering $0 trades, industry-leading research, excellent trading tools, an easy-to-use mobile app, and comprehensive retirement services. Serving over 40 million customers, Fidelity is a winner for everyday investors.

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Overall RatingFidelityMerrill EdgeE*TRADE
Overall5 Stars4.5 Stars5 Stars
Commissions & Fees5 Stars4.5 Stars4.5 Stars
Investment Options4.5 Stars4 Stars5 Stars
Platforms & Tools4.5 Stars4 Stars4.5 Stars
Mobile Trading Apps5 Stars4 Stars5 Stars
Research5 Stars4.5 Stars4.5 Stars
Customer Service4.5 Stars4.5 Stars4.5 Stars
Education5 Stars4.5 Stars4.5 Stars
Ease Of Use4.5 Stars4 Stars5 Stars
Winnercheck_circle
ReviewFidelity ReviewMerrill Edge ReviewE*TRADE Review
Trading FeesFidelityMerrill EdgeE*TRADE
Minimum Deposit$0.00$0.00$0.00
Stock Trades$0.00$0.00$0.00
Penny Stock Fees (OTCCB)$0.00N/A$6.95
Mutual Fund Trade Fee$49.95$19.95$19.99
Options (Base Fee)$0.00$0.00$0.00
Options (Per Contract)$0.65$0.65$0.65
Futures (Per Contract)N/AN/A$1.50
Broker Assisted Trade Fee$32.9529.95$25
Margin RatesFidelityMerrill EdgeE*TRADE
Margin Rate Under $24,999.9911.33%N/A11.95%
Margin Rate $25,000.00 to $49,999.9910.83%N/A11.45%
Margin Rate $50,000.00 to $99,999.999.88%N/A10.95%
Margin Rate $100,000.00 to $249,999.999.83%N/A10.45%
Margin Rate $250,000.00 to $499,999.999.58%N/A9.95%
Margin Rate $500,000.00 to $999,999.997.25%N/A9.45%
Margin Rate Above $1,000,000.007.00%N/A8.45%
Account FeesFidelityMerrill EdgeE*TRADE
IRA Annual Fee$0.00$0.00$0.00
IRA Closure Fee$0.00$49.95$0.00
Account Transfer Out (Partial)$0.00$0.00$25.00
Account Transfer Out (Full)$0.00$49.95$75.00
Options Exercise Fee$0.00$0.00$0.00
Options Assignment Fee$0.00$0.00$0.00
Investment OptionsFidelityMerrill EdgeE*TRADE
Stock TradingYesYesYes
Margin TradingYesYesYes
Fractional SharesYesNoNo
OTCBB / Pink SheetsYesYesYes
Options TradingYesYesYes
Complex Options Max Legs444
Futures TradingNoNoYes
Forex TradingNoNoNo
Crypto TradingNoNoNo
Crypto Trading - Total Coins000
Mutual Funds (No Load)584329526486
Mutual Funds (Total)1000034667242
Bonds (US Treasury)YesYesYes
Bonds (Corporate)YesYesYes
Bonds (Municipal)YesYesYes
Advisor ServicesYesYesYes
International Countries (Stocks)2500
Order TypesFidelityMerrill EdgeE*TRADE
Order Type - MarketYesYesYes
Order Type - LimitYesYesYes
Order Type - After HoursYesYesYes
Order Type - StopYesYesYes
Order Type - Trailing StopYesYesYes
Order Type - OCOYesNoYes
Order Type - OTOYesNoYes
Order Type - Broker AssistedYesYesYes
BeginnersFidelityMerrill EdgeE*TRADE
Education (Stocks)YesYesYes
Education (ETFs)YesYesYes
Education (Options)YesYesYes
Education (Mutual Funds)YesYesYes
Education (Bonds)YesYesYes
Education (Retirement)YesYesYes
Retirement CalculatorYesYesYes
Investor DictionaryYesYesYes
Paper TradingNoNoYes
VideosYesYesYes
WebinarsYesYesYes
Webinars (Archived)YesYesYes
Progress TrackingYesNoNo
Interactive Learning - QuizzesYesYesYes
Stock Trading AppsFidelityMerrill EdgeE*TRADE
iPhone AppYesYesYes
Android AppYesYesYes
Apple Watch AppYesYesYes
Trading - StocksYesYesYes
Trading - After-HoursYesYesYes
Trading - Simple OptionsYesYesYes
Trading - Complex OptionsYesYesYes
Order Ticket RT QuotesYesYesYes
Order Ticket SRT QuotesYesNoYes
Stock App FeaturesFidelityMerrill EdgeE*TRADE
Market Movers (Top Gainers)YesYesYes
Stream Live TVYesNoYes
Videos on DemandYesNoNo
Stock AlertsYesYesYes
Option Chains ViewableYesYesYes
Watch List (Real-time)YesYesYes
Watch List (Streaming)YesYesYes
Watch Lists - Create & ManageYesYesYes
Watch Lists - Column CustomizationYesNoYes
Watch Lists - Total Fields9228595
Stock App ChartingFidelityMerrill EdgeE*TRADE
Charting - After-HoursYesNoYes
Charting - Can Turn HorizontallyYesYesYes
Charting - Multiple Time FramesYesYesYes
Charting - Technical Studies1293410
Charting - Study CustomizationsYesYesYes
Charting - Stock ComparisonsYesYesYes
Trading PlatformsFidelityMerrill EdgeE*TRADE
Active Trading PlatformActive Trader ProMerrill Edge Market ProPower E*TRADE
Desktop Trading PlatformYesNoNo
Desktop Platform (Mac)YesNoNo
Web Trading PlatformYesYesYes
Paper TradingNoNoYes
Trade JournalYesNoNo
Watch Lists - Total Fields9228595
Stock Chart FeaturesFidelityMerrill EdgeE*TRADE
Charting - Adjust Trades on ChartYesYesYes
Charting - Indicators / Studies129104119
Charting - Drawing Tools372331
Charting - NotesYesYesYes
Charting - Index OverlaysYesYesYes
Charting - Historical TradesYesYesYes
Charting - Corporate EventsYesYesYes
Charting - Custom Date RangeYesYesYes
Charting - Custom Time BarsYesYesNo
Charting - Automated AnalysisYesYesYes
Charting - Save ProfilesYesYesYes
Trade Ideas - Technical AnalysisYesYesYes
Charting - Study Customizations586
Charting - Custom StudiesNoNoNo
Day TradingFidelityMerrill EdgeE*TRADE
Streaming Time & SalesYesYesYes
Streaming TVYesNoYes
Direct Market Routing - StocksYesNoYes
Ladder TradingNoNoNo
Trade Hot KeysYesNoYes
Level 2 Quotes - StocksYesYesYes
Trade Ideas - BacktestingYesYesNo
Trade Ideas - Backtesting AdvNoNoNo
Short LocatorYesNoNo
Order Liquidity RebatesNoNoNo
Research OverviewFidelityMerrill EdgeE*TRADE
Research - StocksYesYesYes
Research - ETFsYesYesYes
Research - Mutual FundsYesYesYes
Research - Pink Sheets / OTCBBYesYesYes
Research - BondsYesYesYes
Screener - StocksYesYesYes
Screener - ETFsYesYesYes
Screener - Mutual FundsYesYesYes
Screener - BondsYesYesYes
Misc - Portfolio AllocationYesYesYes
Stock ResearchFidelityMerrill EdgeE*TRADE
Stock Research - PDF Reports1136
Stock Research - EarningsYesYesYes
Stock Research - InsidersYesYesYes
Stock Research - SocialYesNoYes
Stock Research - NewsYesYesYes
Stock Research - ESGYesYesNo
Stock Research - SEC FilingsYesYesYes
ETF ResearchFidelityMerrill EdgeE*TRADE
ETFs - Strategy OverviewYesYesYes
ETF Fund Facts - Inception DateYesYesYes
ETF Fund Facts - Expense RatioYesYesYes
ETF Fund Facts - Net AssetsYesYesYes
ETF Fund Facts - Total HoldingsYesYesYes
ETFs - Top 10 HoldingsYesYesYes
ETFs - Sector ExposureYesYesYes
ETFs - Risk AnalysisYesYesYes
ETFs - RatingsYesYesYes
ETFs - Morningstar StyleMapYesYesYes
ETFs - PDF ReportsYesYesYes
Mutual Fund ResearchFidelityMerrill EdgeE*TRADE
Mutual Funds - Strategy OverviewYesYesYes
Mutual Funds - Performance ChartYesYesNo
Mutual Funds - Performance AnalysisYesYesYes
Mutual Funds - ProspectusYesYesYes
Mutual Funds - 3rd Party RatingsYesYesYes
Mutual Funds - Fees BreakdownYesYesYes
Mutual Funds - Top 10 HoldingsYesYesYes
Mutual Funds - Asset AllocationYesYesYes
Mutual Funds - Sector AllocationYesYesYes
Mutual Funds - Country AllocationYesYesYes
Mutual Funds - StyleMapYesYesYes
Options TradingFidelityMerrill EdgeE*TRADE
Option Chains - Basic ViewYesYesYes
Option Chains - Strategy ViewYesYesYes
Option Chains - StreamingYesYesYes
Option Chains - Total Columns266831
Option Chains - Greeks555
Option Chains - Quick AnalysisYesYesYes
Option Analysis - P&L ChartsYesYesYes
Option Probability AnalysisYesYesYes
Option Probability Analysis AdvYesNoYes
Option Positions - GreeksYesYesYes
Option Positions - Greeks StreamingYesYesYes
Option Positions - Adv AnalysisYesYesYes
Option Positions - RollingYesYesYes
Option Positions - GroupingYesYesYes
BankingFidelityMerrill EdgeE*TRADE
Bank (Member FDIC)NoYesYes
Checking AccountsYesYesYes
Savings AccountsYesYesYes
Credit CardsYesYesYes
Debit CardsYesYesYes
Mortgage LoansNoYesYes
Customer ServiceFidelityMerrill EdgeE*TRADE
Phone Support (Prospect Customers)YesYesYes
Phone Support (Current Customers)YesYesYes
Email SupportYesYesYes
Live Chat (Prospect Customers)YesYesNo
Live Chat (Current Customers)YesYesYes
24/7 SupportYesYesYes
OverallFidelityMerrill EdgeE*TRADE
Overall5 Stars4.5 Stars5 Stars
Commissions & Fees5 Stars4.5 Stars4.5 Stars
Investment Options4.5 Stars4 Stars5 Stars
Platforms & Tools4.5 Stars4 Stars4.5 Stars
Mobile Trading Apps5 Stars4 Stars5 Stars
Research5 Stars4.5 Stars4.5 Stars
Education5 Stars4.5 Stars4.5 Stars
Ease Of Use4.5 Stars4 Stars5 Stars
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ReviewFidelity ReviewMerrill Edge ReviewE*TRADE Review
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Fidelity vs Merrill Edge Comparison

Comparing brokers side by side is no easy task. For our 2022 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Fidelity vs Merrill Edge.

Is Fidelity or Merrill Edge better for beginners?

Fidelity offers more comprehensive new investor education for beginner investors than E*TRADE. Both Fidelity and Merrill Edge offer Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), neither have Paper Trading.

What about Fidelity vs Merrill Edge pricing?

Fidelity and Merrill Edge charge the same amount for regular stock trades, $0.00. Fidelity 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 Fidelity or Merrill Edge offer a wider range of investment options?

Fidelity offers investors access to Stock Trading, Fractional Shares, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Advisor Services, while Merrill Edge offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Advisor Services, neither have Futures Trading and Forex Trading. Looking at Mutual Funds, Merrill Edge trails Fidelity in its offering of no transaction fee (NTF) mutual funds, with Fidelity offering 3401 and Merrill Edge offering 3095.

Which trading platform is better: Fidelity or Merrill Edge?

To compare the trading platforms of Fidelity and Merrill Edge, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Fidelity offers a better experience. With research, Fidelity 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 and Credit Cards are offered by Fidelity while Merrill Edge offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.

Is Fidelity good?

Fidelity is a value-driven online broker offering $0 trades, industry-leading research, excellent trading tools, an easy-to-use mobile app, and comprehensive retirement services. Serving over 40 million customers, Fidelity is a winner for everyday investors.

Is Merrill Edge good?

Merrill Edge offers $0 trades with industry-leading research tools — especially for ESG research — and excellent customer service. Better yet, the Preferred Rewards program at Bank of America, Merrill Edge’s parent, offers the best rewards of any bank broker we tested in 2022.

Fidelity vs Merrill Edge Winner

Overall winner: Fidelity

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1 Fidelity Sell orders are subject to an activity assessment fee from $0.01 to $0.03 per $1,000 of principal. 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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