Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare Fidelity Investments vs Merrill Edge to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing 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. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. Both Fidelity Investments and Merrill Edge support Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Fidelity Investments offers its clients access to 11782 different mutual funds while Merrill Edge has 3709 available funds, a difference of 8,073.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Fidelity Investments nor Merrill Edge offers virtual trading. For mobile trading, Both Fidelity Investments and Merrill Edge offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. 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. All factors considered, when it comes to platform tools, research, and mobile trading, Fidelity Investments along with Merrill Edge both finished with awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, between Fidelity Investments and Merrill Edge, Fidelity Investments is the winner
Fidelity Investments Review
Merrill Edge Review