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Fidelity Investments vs Merrill Edge 2019

Blain Reinkensmeyer

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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Overall Rating

Feature Fidelity Investments Merrill Edge
Overall 4.5 4
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 4 4
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 4 4
Winner check_circle

Trading Platforms

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

Feature Fidelity Investments Merrill Edge
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
166 95
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
5 8
Charting - Custom Studies
No No
Platforms & Tools 4.5 4
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Day Trading

Feature Fidelity Investments Merrill Edge
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
Yes Yes
Streaming Time & Sales
Yes Yes
Streaming TV
Yes No
Direct Market Routing - Stocks
Yes No
Direct Market Routing - Options
Yes No
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 Yes
Short Locator
Yes No
Client Liquidity Rebates
No No
Winner check_circle

Mobile Trading

Feature Fidelity Investments Merrill Edge
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
Watch List Syncing
Yes Yes
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
Yes No
Charting - After Hours
Yes Yes
Charting - Drawing
No Yes
Charting - Study Customizations
Yes Yes
Customizable Homescreen
Yes Yes
Heatmapping
Yes Yes
Stream Live TV
Yes No
Barcode Lookup
No No
Mobile Trading 4.5 4.5
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Research Overview

Feature Fidelity Investments Merrill Edge
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes Yes
Research - Pink Sheets / OTCBB
Yes Yes
Research - Fixed Income
Yes Yes
Research - Futures
Yes No
Research - Forex
No No
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 5 4.5
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Stock Research

Feature Fidelity Investments Merrill Edge
Stock Research - Reports
12 3
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
Yes No
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
Yes Yes
Stock Research - News
Yes Yes
Stock Research - ESG
Yes Yes
Research 5 4.5
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Fund Research

Feature Fidelity Investments Merrill Edge
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
Mutual Funds - Strategy Overview
Yes Yes
Mutual Funds - Prospectus
Yes Yes
Mutual Funds - Reports
No 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
Mutual Funds - 3rd Party Ratings
Yes Yes
Research 5 4.5
Winner check_circle

Options Trading

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

Feature Fidelity Investments Merrill Edge
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 2
Futures Trading
No No
Forex Trading
No No
Commission-Free ETFs 500 0
Mutual Funds (No Load)
4031 2471
Mutual Funds (Total)
11782 3709
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Advisor Services
Yes Yes
International Trading
Yes No
Offering of Investments 4.5 3
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Order Types

Feature Fidelity Investments Merrill Edge
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes No
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes No
Order Type - OTO
Yes No
Order Type - OTOCO
Yes No
Offering of Investments 4.5 3
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Beginners

Feature Fidelity Investments Merrill Edge
Has Education - Stocks
Yes Yes
Has Education - ETFs
Yes Yes
Has Education - Options
Yes Yes
Has Education - Mutual Funds
Yes Yes
Has Education - Fixed Income
Yes Yes
Has Education - Retirement
Yes Yes
Paper Trading
No No
Videos
Yes Yes
Webinars (Monthly Avg)
8 0
Webinars (Archived)
Yes No
Live Seminars
Yes Yes
Progress Tracking
Yes No
Interactive Learning - Quizzes
Yes Yes
Investor Magazine
Yes Yes
Education 5 4.5
Winner check_circle

Banking

Feature Fidelity Investments Merrill Edge
Retail Locations
197 4400
Member FDIC
No Yes
Checking Accounts
Yes Yes
Savings Accounts
Yes Yes
Credit Cards
Yes Yes
Debit Cards
Yes Yes
Mortgage Loans
No Yes
No Fee Banking
Yes No
Banking 4 5
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Overall

Feature Fidelity Investments Merrill Edge
Fidelity Investments Review Merrill Edge Review
Overall 4.5 4
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


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.

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