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Fidelity Investments vs Merrill Edge 2019
The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.
Is Fidelity Investments better than Merrill Edge? After scoring brokers on over 4,000 data points for our 2019 review, Fidelity Investments (86.62%) is better than Merrill Edge (77.93%). From industry-leading research to excellent trading tools, mobile apps, and retirement services, Fidelity defines “value” and provides investors with everything they need to succeed, and more.
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| Open Account | Open Account |
Overall Rating
| Feature | Fidelity Investments | Merrill Edge |
| Overall | ||
| Fidelity Investments Review | Merrill Edge Review |
Trading Fees
| Feature | Fidelity Investments | Merrill Edge |
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trade Fee (per trade) | $4.95 | $6.95 |
| Options Base Fee | $4.95 | $6.95 |
| Options Per Contract Fee | $0.65 | $0.75 |
| Mutual Fund Trade Fee | $49.95 | $19.95 |
| Broker Assisted Trades Fee | $32.95 | $29.95 |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $0.00 | $49.95 |
| Commissions & Fees | ||
| Winner | check_circle |
Margin Rates
| Feature | Fidelity Investments | Merrill Edge |
| Under $24,999.99 | 9.58% | 10.63% |
| $25,000.00 to $49,999.99 | 9.08% | 9.50% |
| $50,000.00 to $99,999.99 | 8.13% | 9.50% |
| $100,000.00 to $249,999.99 | 8.08% | 8.13% |
| $250,000.00 to $499,999.99 | 7.83% | 8.13% |
| $500,000.00 to $999,999.99 | 5.50% | 7.88% |
| Above $1,000,000.00 | 5.25% | 7.25% |
| Commissions & Fees | ||
| Winner | check_circle |
Trading Platforms
| Feature | Fidelity Investments | Merrill Edge |
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Desktop Platform (Windows) |
Yes | Yes |
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Desktop Platform (Mac) |
Yes | Yes |
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Web Platform |
Yes | Yes |
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Paper Trading |
No | No |
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Trade Journal |
Yes | No |
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Watch Lists - Total Fields |
91 | 285 |
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Two-Factor Authentication Login |
Yes | Yes |
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Heat Mapping |
Yes | Yes |
| Platforms & Tools | ||
| Winner | check_circle |
Charting Features
| Feature | Fidelity Investments | Merrill Edge |
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Charting - Trade Off Chart |
Yes | Yes |
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Charting - Indicators / Studies |
166 | 95 |
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Charting - Drawing Tools |
22 | 22 |
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Charting - Historical Trades |
Yes | Yes |
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Charting - Corporate Events |
Yes | Yes |
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Charting - Automated Analysis |
Yes | Yes |
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Charting - Save Profiles |
Yes | Yes |
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Charting - Study Customizations |
5 | 8 |
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Charting - Custom Studies |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
Day Trading
| Feature | Fidelity Investments | Merrill Edge |
|
Stock Alerts - Basic Fields |
Yes | Yes |
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Stock Alerts - Advanced Fields |
Yes | Yes |
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Streaming Time & Sales |
Yes | Yes |
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Streaming TV |
Yes | No |
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Direct Market Routing - Stocks |
Yes | No |
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Direct Market Routing - Options |
Yes | No |
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Ladder Trading |
No | No |
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Trade Hot Keys |
Yes | Yes |
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Level 2 Quotes - Stocks |
Yes | Yes |
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Level 2 Quotes - Options |
Yes | Yes |
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Trade Ideas - Backtesting |
Yes | Yes |
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Short Locator |
Yes | No |
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Client Liquidity Rebates |
No | No |
| Winner | check_circle |
Mobile Trading
| Feature | Fidelity Investments | Merrill Edge |
|
iPhone App |
Yes | Yes |
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Android App |
Yes | Yes |
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Apple Watch App |
Yes | Yes |
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Trading - Stocks |
Yes | Yes |
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Trading - After-Hours |
Yes | Yes |
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Trading - Conditional Orders |
No | No |
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Trading - Mutual Funds |
Yes | Yes |
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Trading - Simple Options |
Yes | Yes |
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Trading - Complex Options |
Yes | Yes |
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Trading - Option Rolling |
No | No |
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Touch / Face ID |
Yes | Yes |
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Watch List Syncing |
Yes | Yes |
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Stock Alerts - Basic Fields |
Yes | Yes |
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Stock Alerts - Advanced Fields |
Yes | No |
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Charting - After Hours |
Yes | Yes |
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Charting - Drawing |
No | Yes |
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Charting - Study Customizations |
Yes | Yes |
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Customizable Homescreen |
Yes | Yes |
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Heatmapping |
Yes | Yes |
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Stream Live TV |
Yes | No |
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Barcode Lookup |
No | No |
| Mobile Trading | ||
| Winner | check_circle |
Research Overview
| Feature | Fidelity Investments | Merrill Edge |
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Research - Stocks |
Yes | Yes |
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Research - ETFs |
Yes | Yes |
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Research - Mutual Funds |
Yes | Yes |
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Research - Pink Sheets / OTCBB |
Yes | Yes |
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Research - Fixed Income |
Yes | Yes |
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Research - Futures |
Yes | No |
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Research - Forex |
No | No |
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Screener - Stocks |
Yes | Yes |
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Screener - ETFs |
Yes | Yes |
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Screener - Mutual Funds |
Yes | Yes |
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Screener - Options |
Yes | Yes |
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Screener - Bonds |
Yes | Yes |
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Misc - Portfolio Builder |
Yes | Yes |
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Misc - Portfolio Allocation |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Stock Research
| Feature | Fidelity Investments | Merrill Edge |
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Stock Research - Reports |
12 | 3 |
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Stock Research - Earnings |
Yes | Yes |
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Stock Research - Insiders |
Yes | Yes |
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Stock Research - Metric Comp |
Yes | Yes |
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Stock Research - SEC Filings |
Yes | Yes |
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Stock Research - Social |
Yes | No |
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Stock Research - Balance Sheet |
Yes | Yes |
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Stock Research - Cash Flows |
Yes | Yes |
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Stock Research - News |
Yes | Yes |
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Stock Research - ESG |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Fund Research
| Feature | Fidelity Investments | Merrill Edge |
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ETFs - Strategy Overview |
Yes | Yes |
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ETFs - Top 10 Holdings |
Yes | Yes |
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ETFs - Sector Exposure |
Yes | Yes |
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ETFs - Risk Analysis |
Yes | Yes |
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ETFs - Performance Analysis |
Yes | Yes |
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ETFs - Ratings |
Yes | Yes |
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ETFs - Morningstar StyleMap |
Yes | Yes |
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ETFs - Reports |
Yes | Yes |
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Mutual Funds - Strategy Overview |
Yes | Yes |
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Mutual Funds - Prospectus |
Yes | Yes |
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Mutual Funds - Reports |
No | Yes |
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Mutual Funds - Fees Breakdown |
Yes | Yes |
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Mutual Funds - Top 10 Holdings |
Yes | Yes |
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Mutual Funds - Asset Allocation |
Yes | Yes |
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Mutual Funds - Sector Allocation |
Yes | Yes |
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Mutual Funds - Country Allocation |
Yes | Yes |
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Mutual Funds - StyleMap |
Yes | Yes |
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Mutual Funds - 3rd Party Ratings |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Options Trading
| Feature | Fidelity Investments | Merrill Edge |
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Option Chains - Streaming |
Yes | Yes |
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Option Chains - Total Columns |
26 | 69 |
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Option Chains - Greeks |
5 | 5 |
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Option Chains - Quick Analysis |
Yes | Yes |
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Option Analysis - P&L Charts |
Yes | Yes |
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Option Probability Analysis |
Yes | Yes |
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Option Probability Analysis Adv |
Yes | No |
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Option Positions - Greeks |
Yes | Yes |
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Option Positions - Adv Analysis |
Yes | Yes |
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Option Positions - Rolling |
Yes | No |
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Option Positions - Grouping |
Yes | Yes |
| Platforms & Tools | ||
| Winner | check_circle |
Investments
| Feature | Fidelity Investments | Merrill Edge |
|
Stock Trading |
Yes | Yes |
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OTCBB / Pink Sheets |
Yes | Yes |
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Options Trading |
Yes | Yes |
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Complex Options Max Legs |
4 | 2 |
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Futures Trading |
No | No |
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Forex Trading |
No | No |
| Commission-Free ETFs | 500 | 0 |
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Mutual Funds (No Load) |
4031 | 2471 |
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Mutual Funds (Total) |
11782 | 3709 |
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Bonds (US Treasury) |
Yes | Yes |
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Bonds (Corporate) |
Yes | Yes |
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Bonds (Municipal) |
Yes | Yes |
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Advisor Services |
Yes | Yes |
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International Trading |
Yes | No |
| Offering of Investments | ||
| Winner | check_circle |
Order Types
| Feature | Fidelity Investments | Merrill Edge |
|
Order Type - Market |
Yes | Yes |
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Order Type - Limit |
Yes | Yes |
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Order Type - Stop |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | Yes |
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Order Type - Contingent |
Yes | No |
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Order Type - MultiContingent |
Yes | No |
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Order Type - OCO |
Yes | No |
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Order Type - OTO |
Yes | No |
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Order Type - OTOCO |
Yes | No |
| Offering of Investments | ||
| Winner | check_circle |
Beginners
| Feature | Fidelity Investments | Merrill Edge |
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Has Education - Stocks |
Yes | Yes |
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Has Education - ETFs |
Yes | Yes |
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Has Education - Options |
Yes | Yes |
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Has Education - Mutual Funds |
Yes | Yes |
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Has Education - Fixed Income |
Yes | Yes |
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Has Education - Retirement |
Yes | Yes |
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Paper Trading |
No | No |
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Videos |
Yes | Yes |
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Webinars (Monthly Avg) |
8 | 0 |
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Webinars (Archived) |
Yes | No |
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Live Seminars |
Yes | Yes |
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Progress Tracking |
Yes | No |
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Interactive Learning - Quizzes |
Yes | Yes |
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Investor Magazine |
Yes | Yes |
| Education | ||
| Winner | check_circle |
Banking
| Feature | Fidelity Investments | Merrill Edge |
|
Retail Locations |
197 | 4400 |
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Member FDIC |
No | Yes |
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Checking Accounts |
Yes | Yes |
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Savings Accounts |
Yes | Yes |
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Credit Cards |
Yes | Yes |
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Debit Cards |
Yes | Yes |
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Mortgage Loans |
No | Yes |
|
No Fee Banking |
Yes | No |
| Banking | ||
| Winner | check_circle |
Overall
| Feature | Fidelity Investments | Merrill Edge |
| Fidelity Investments Review | Merrill Edge Review | |
| Overall | ||
| Winner | check_circle |
Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare Fidelity Investments vs Merrill Edge.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Merrill Edge, with its regular stock trades costing $6.95, is more expensive than Fidelity Investments's rate of $4.95 per trade. With options, the base fees charged are $6.95 (Merrill Edge) and $4.95 (Fidelity Investments). Fidelity Investments's per contract rate of $0.65 is less than Merrill Edge which charges $0.75. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.
Next to commission rates, being able to trade what you want is important. Fidelity Investments and Merrill Edge provide clients with Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Fidelity Investments offers its clients access to 11782 different mutual funds while Merrill Edge has 3709 available funds, a difference of 8,073.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Fidelity Investments nor Merrill Edge offers virtual trading. Taking a look at mobile trading, Fidelity Investments along with Merrill Edge both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Merrill Edge while Fidelity Investments offers Checking Accounts, Savings Accounts, Debit Cards and Credit Cards.
Overall, between Fidelity Investments and Merrill Edge, Fidelity Investments is the winner.
Fidelity Investments Review
Merrill Edge Review
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Merrill Edge, with its regular stock trades costing $6.95, is more expensive than Fidelity Investments's rate of $4.95 per trade. With options, the base fees charged are $6.95 (Merrill Edge) and $4.95 (Fidelity Investments). Fidelity Investments's per contract rate of $0.65 is less than Merrill Edge which charges $0.75. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.
Next to commission rates, being able to trade what you want is important. Fidelity Investments and Merrill Edge provide clients with Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Fidelity Investments offers its clients access to 11782 different mutual funds while Merrill Edge has 3709 available funds, a difference of 8,073.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Fidelity Investments nor Merrill Edge offers virtual trading. Taking a look at mobile trading, Fidelity Investments along with Merrill Edge both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Merrill Edge while Fidelity Investments offers Checking Accounts, Savings Accounts, Debit Cards and Credit Cards.
Overall, between Fidelity Investments and Merrill Edge, Fidelity Investments is the winner.
Fidelity Investments Review
Merrill Edge Review
All pricing data was obtained from a published web site as of 02/18/2019 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.
