Merrill Edge vs Firstrade 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 Merrill Edge vs Firstrade.
Is Merrill Edge or Firstrade better for beginners?
Merrill Edge offers more comprehensive new investor education for beginner investors than Firstrade. Merrill Edge offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while Firstrade offers investors access to Videos, Education (Stocks), Education (Options) and Education (Retirement). Neither have Paper Trading. See our guide to Best Paper Trading Platforms for more.
What about Merrill Edge vs Firstrade pricing?
Merrill Edge and Firstrade charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Merrill Edge, costing $0.65 per contract versus $0.00 per contract at Firstrade. For a complete commissions summary, see our best brokers for free stock trading guide.
Does Merrill Edge or Firstrade offer a wider range of investment options?
Merrill Edge offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Advisor Services, while Firstrade offers investors access to Stock Trading, Options Trading, OTC Stocks and Mutual Funds. Neither have Fractional Shares, Futures Trading and Forex Trading. Looking at Mutual Funds, Merrill Edge trails Firstrade in its offering of no transaction fee (NTF) mutual funds, with Firstrade offering 3767 and Merrill Edge offering 3095.
Which trading platform is better: Merrill Edge or Firstrade?
To compare the trading platforms of Merrill Edge and Firstrade, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Merrill Edge offers a better experience. With research, Merrill Edge offers superior market research. Finally, we found Merrill Edge 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. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Merrill Edge while Firstrade offers Checking Accounts and Debit Cards.
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.
Is Firstrade good?
Firstrade scored well in our 2023 Annual Review for ease of use, and is a great choice for Chinese-speaking investors. However, it lags behind the competition in certain areas, especially platforms, tools and education.
Merrill Edge vs Firstrade Winner
Overall winner: Merrill Edge
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