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Fidelity vs Merrill Edge 2023

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Written by StockBrokers.com

April 11, 2023

Is Fidelity better than Merrill Edge? After testing 17 of the best online brokers over three months, Fidelity (98.22%) is better than Merrill Edge (95.25%). Our top pick overall for 2023, Fidelity is a value-driven online broker offering $0 trades, industry-leading research, excellent trading tools and an easy-to-use mobile app.

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  • check_box_outline_blankcheck_boxAlly Invest
  • check_box_outline_blankcheck_boxCharles Schwab
  • check_box_outline_blankcheck_boxE*TRADE
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFidelity
  • check_box_outline_blankcheck_boxFirstrade
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
  • check_box_outline_blankcheck_boxMerrill Edge
  • check_box_outline_blankcheck_boxRobinhood
  • check_box_outline_blankcheck_boxSofi Invest
  • check_box_outline_blankcheck_boxtastytrade
  • check_box_outline_blankcheck_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTradeStation
  • check_box_outline_blankcheck_boxTradier
  • check_box_outline_blankcheck_boxVanguard
  • check_box_outline_blankcheck_boxWebull

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Overall RatingFidelityMerrill Edge
Overall 5/5 Stars 5/5 Stars
Commissions & Fees 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 4.5/5 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 Fidelity Review Merrill Edge Review
Trading FeesFidelityMerrill Edge
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) $0.00 N/A
Mutual Fund Trade Fee $49.95 $19.95
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.65
Futures (Per Contract) N/A N/A
Broker Assisted Trade Fee $32.95 $29.95
Margin RatesFidelityMerrill Edge
Margin Rate Under $25,000 13.08% Varies
Margin Rate $25,000 to $49,999.99 12.58% Varies
Margin Rate $50,000 to $99,999.99 11.63% Varies
Margin Rate $100,000 to $249,999.99 11.58% Varies
Margin Rate $250,000 to $499,999.99 11.33% Varies
Margin Rate $500,000 to $999,999.99 9.00% Varies
Margin Rate Above $1,000,000 8.75% Varies
Account FeesFidelityMerrill Edge
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $49.95
Account Transfer Out (Partial) $0.00 $0.00
Account Transfer Out (Full) $0.00 $49.95
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment OptionsFidelityMerrill Edge
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares Yes No
OTC Stocks Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading No No
Forex Trading No No
Crypto Trading No No
Crypto Trading - Total Coins 0 0
Mutual Funds (No Load) 5843 2952
Mutual Funds (Total) 10000 3466
Bonds (US Treasury) Yes Yes
Bonds (Corporate) Yes Yes
Bonds (Municipal) Yes Yes
Advisor Services Yes Yes
International Countries (Stocks) 25 0
Order TypesFidelityMerrill 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
BeginnersFidelityMerrill 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 No No
Videos Yes Yes
Webinars Yes Yes
Webinars (Archived) Yes Yes
Progress Tracking Yes No
Interactive Learning - Quizzes Yes Yes
Stock Trading AppsFidelityMerrill 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
SB Gallery - Mobile Apps
Stock App FeaturesFidelityMerrill Edge
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes No
Videos on Demand Yes 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 92 285
Stock App ChartingFidelityMerrill Edge
Charting - After-Hours Yes No
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 129 34
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons Yes Yes
Trading PlatformsFidelityMerrill Edge
Active Trading Platform Active Trader Pro Merrill Edge Market Pro
Desktop Trading Platform Yes No
Desktop Platform (Mac) Yes No
Web Trading Platform Yes Yes
Paper Trading No No
Trade Journal Yes No
Watch Lists - Total Fields 92 285
Stock Chart FeaturesFidelityMerrill Edge
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 129 104
Charting - Drawing Tools 37 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 Yes Yes
Charting - Automated Analysis Yes Yes
Charting - Save Profiles Yes Yes
Trade Ideas - Technical Analysis Yes Yes
Charting - Study Customizations 5 8
Charting - Custom Studies No No
Day TradingFidelityMerrill 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 Yes Yes
Trade Ideas - Backtesting Adv No No
Short Locator Yes No
Order Liquidity Rebates No No
Research OverviewFidelityMerrill 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 ResearchFidelityMerrill Edge
Stock Research - PDF Reports 11 3
Stock Research - Earnings Yes Yes
Stock Research - Insiders Yes Yes
Stock Research - Social Yes No
Stock Research - News Yes Yes
Stock Research - ESG Yes Yes
Stock Research - SEC Filings Yes Yes
ETF ResearchFidelityMerrill 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 ResearchFidelityMerrill Edge
Mutual Funds - Strategy Overview Yes Yes
Mutual Funds - Performance Chart Yes 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 TradingFidelityMerrill Edge
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 26 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
BankingFidelityMerrill Edge
Bank (Member FDIC) No Yes
Checking Accounts No Yes
Savings Accounts No Yes
Credit Cards Yes Yes
Debit Cards Yes Yes
Mortgage Loans No Yes
Customer ServiceFidelityMerrill Edge
Phone Support (Prospect Customers) Yes No
Phone Support (Current Customers) Yes Yes
Email Support Yes Yes
Live Chat (Prospect Customers) Yes Yes
Live Chat (Current Customers) Yes Yes
24/7 Support Yes Yes
OverallFidelityMerrill Edge
Overall 5/5 Stars 5/5 Stars
Commissions & Fees 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 Fidelity Review Merrill Edge Review
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Fidelity 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 Fidelity vs Merrill Edge.

Is Fidelity or Merrill Edge better for beginners?

Fidelity offers more comprehensive new investor education for beginner investors than Merrill Edge. 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. See our guide to Best Paper Trading Platforms for more.

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, OTC Stocks, Mutual Funds and Advisor Services, while Merrill Edge offers investors access to Stock Trading, Options Trading, OTC Stocks, 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, Merrill Edge offers superior market research. Finally, we found Fidelity 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. 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?

Our top pick overall for 2023, Fidelity is a value-driven online broker offering $0 trades, industry-leading research, excellent trading tools and an easy-to-use mobile app.

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.

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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