The StockBrokers.com 2017 Brokerage Review
assessed 16 different brokers over six months. This review compares Fidelity Investments vs Merrill Edge. Is Fidelity Investments or Merrill Edge a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Merrill Edge charges $6.95 per stock trade which is $2.00 more than Fidelity Investments which charges customers $4.95 per trade. With options, the base fees charged are $6.95 (Merrill Edge) and $4.95 (Fidelity Investments). Each option contract then costs $0.75 at Merrill Edge and $0.65 at Fidelity Investments. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. Both Fidelity Investments and Merrill Edge support Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Fidelity Investments offers its clients access to 13204 different mutual funds while Merrill Edge has 7649 available funds, a difference of 5,555.00. Commission free ETFs can also be a nice plus, Fidelity Investments offers 91 commission free ETFs versus Merrill Edge's total of 0.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Fidelity Investments offers virtual trading while Merrill Edge does not. For mobile trading, Both Fidelity Investments and Merrill Edge offer clients access to an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Merrill Edge while customers at Fidelity Investments can have Checking Accounts, Savings Accounts, Debit Cards and Credit Cards. On the whole, when it comes to tools, research, and mobile trading, Merrill Edge was rated Best in Class - Research in 2017, while Fidelity Investments was rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Fidelity Investments takes the upper hand with 4.50 stars over Merrill Edge's 4.00 stars.