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Interactive Brokers vs Merrill Edge 2025

StockBrokers.com

Written by StockBrokers.com

July 03, 2025

In this head to head comparison of Interactive Brokers vs Merrill Edge, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Interactive Brokers
5/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.65 info
Merrill Edge
4.5/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.65

Range of investments

When evaluating the investment options available through Interactive Brokers versus Merrill Edge, it's clear that each platform has its unique strengths. Interactive Brokers stands out with a perfect 5-star rating and the number one rank for range of investments according to StockBrokers.com, while Merrill Edge closely follows with a 4.5-star rating and seventh rank. If you're looking for broad investment offerings, Interactive Brokers might be your choice, especially for access to crypto and forex markets, which Merrill Edge does not offer. Meanwhile, Merrill Edge shines with integrated advisor services, which could appeal to those seeking financial guidance.

Both Interactive Brokers and Merrill Edge offer a variety of common investment options such as stock trading, margin trading, mutual funds, and options trading. However, where they differ lies in the availability of fractional shares and certain specific markets. Interactive Brokers offers fractional share trading and a wider range of international investments, which could be a significant advantage for those keen on diversifying their investments globally. Merrill Edge, while not offering fractional shares, maintains a solid foundation with traditional stock and options markets, along with access to OTC stocks.

For investors interested in diversifying their portfolios with cryptocurrencies, Interactive Brokers provides the opportunity to trade 11 different coins, a feature not available with Merrill Edge. Furthermore, Interactive Brokers supports futures and forex trading, which may appeal to more seasoned traders looking for diverse investment strategies. On the other hand, Merrill Edge, backed by Bank of America, offers a seamless integration with existing bank accounts and exclusive advisor services that might benefit those looking for personalized investment strategies.

Feature Interactive Brokers logoInteractive Brokers
Merrill Edge logoMerrill Edge
Stock Trading info Yes Yes
Account Feature - Margin Trading info Yes Yes
Fractional Shares (Stocks) info Yes No
OTC Stocks info Yes Yes
Mutual Funds info Yes Yes
Options Trading info Yes Yes
Futures Trading info Yes No
Crypto Trading info Yes info No
Crypto Trading - Total Coins info 11 info 0
Range of Investments 5/5 Stars 4.5/5 Stars

Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025: A Beginner-Friendly Guide to an Advanced Market

Trading platforms and tools

When it comes to online trading platforms, Interactive Brokers generally holds a slight edge over Merrill Edge, especially for more advanced traders. Interactive Brokers offers both Windows and Mac desktop applications, a feature absent in Merrill Edge, which only provides a browser-based platform. This flexibility, paired with additional offerings like paper trading and a trading journal, makes Interactive Brokers a more versatile choice for traders seeking comprehensive tools. Both platforms do offer browser-based trading and allow users to adjust open orders on stock charts.

If you're looking for charting capabilities, both Interactive Brokers and Merrill Edge provide robust features, although Interactive Brokers offers more options. With 155 technical indicators and 85 drawing tools compared to Merrill Edge’s 105 indicators and 23 drawing tools, Interactive Brokers caters more to those who require extensive charting options. Both platforms allow traders to show historical trades, display corporate events, and utilize automated technical analysis on charts, but only Merrill Edge offers more customizability in SMA studies with 8 fields versus Interactive Brokers’ 6. However, neither platform supports the creation of custom studies for charts.

Overall, the decision between Interactive Brokers and Merrill Edge should be based on specific trader needs. For a more feature-rich desktop experience and extensive charting options, Interactive Brokers is the ideal selection, reflected in its higher rating of 5 stars and a higher rank of #2 out of 14 brokers for trading platforms and tools per StockBrokers.com. Merrill Edge, with its 4-star rating and #6 rank, still provides a solid trading experience, but may appeal more to those looking for a simpler, browser-only platform.

Feature Interactive Brokers logoInteractive Brokers
Merrill Edge logoMerrill Edge
Web Trading Platform info Yes Yes
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info Yes No
Paper Trading info Yes No
Watch Lists - Total Fields info 659 285
Charting - Indicators / Studies info 155 105
Charting - Drawing Tools info 85 23
Platforms & Tools 5/5 Stars 4/5 Stars

Dive deeper: Best Online Brokers & Trading Platforms for 2025, Best Paper Trading Apps & Platforms for 2025

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Beginners and education

When it comes to educating new investors, both Interactive Brokers and Merrill Edge offer a wide array of educational resources. Both platforms provide educational content on stocks, ETFs, options, mutual funds, and bonds, allowing beginners to develop a strong foundation in diverse investment areas. Additionally, both brokers offer educational videos and quizzes to enhance learning. However, Interactive Brokers steps up the game by offering webinars and a feature for tracking learning progress, which sets it apart from Merrill Edge in these particular areas. While Interactive Brokers provides a paper trading option for practice without risk, Merrill Edge lacks this feature.

In terms of user ratings and industry recognition, both brokers demonstrate commendable educational offerings, with Interactive Brokers earning a 5-star rating and Merrill Edge closely trailing with 4.5 stars. The brokers rank well in educational resources among their peers, with Interactive Brokers securing the third place and Merrill Edge taking fifth in StockBrokers.com's evaluation of 14 brokers. Ultimately, both are strong contenders for investor education, though Interactive Brokers offers slightly more comprehensive tools for those keen on engaging in diverse learning experiences and tracking their progress.

Feature Interactive Brokers logoInteractive Brokers
Merrill Edge logoMerrill Edge
Education (Stocks) info Yes Yes
Education (ETFs) info Yes Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes Yes
Education (Fixed Income) info Yes Yes
Paper Trading info Yes No
Videos info Yes Yes
Webinars info Yes No
Education 5/5 Stars 4.5/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2025

Stock trading apps

Interactive Brokers is the stronger pick for power and flexibility in a stock trading app. It earns 5 stars and ranks #2 of 14 with StockBrokers.com, while Merrill Edge scores 4.5 stars and ranks #6. Both cover the basics—iPhone and Android apps, streaming quotes, options trading, price alerts, and custom watchlists—but Interactive Brokers pulls ahead with Apple Watch support, streaming live TV, videos on demand, after-hours charting, and far more technical studies.

Platform and trading features: both brokers offer iPhone and Android apps; only Interactive Brokers adds an Apple Watch app. Each supports mobile options trading. Interactive Brokers also supports mobile after-hours stock trading, while Merrill Edge’s mobile after-hours access isn’t specified here. For market data and media, both stream real-time quotes, but only Interactive Brokers includes streaming live TV and video on demand. Both provide stock alerts and let you create custom watchlists; only Interactive Brokers lets you customize watchlist columns.

Charting: both apps support landscape charts, multiple time frames, and stock-to-stock comparisons. The difference is depth—Interactive Brokers includes after-hours charting and 97 technical studies versus Merrill Edge’s 34, which can matter if you rely on technical analysis on your phone.

Feature Interactive Brokers logoInteractive Brokers
Merrill Edge logoMerrill Edge
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info Yes No
Stock Alerts info Yes Yes
Charting - After-Hours info Yes No
Charting - Technical Studies info 97 34
Mobile Trading Apps 5/5 Stars 4.5/5 Stars

Dive deeper: Best Stock Trading Apps for 2025

Fees

Interactive Brokers vs Merrill Edge: both keep everyday trading costs low, but Interactive Brokers can be cheaper for margin and IRA closures. Each offers a $0 minimum deposit, $0 stock trades, and $0.65 per options contract. The key differences are margin pricing—Interactive Brokers lists 6.83% for balances under $100,000—plus IRA closure fees, where Interactive Brokers is $0 and Merrill Edge charges $49.95.

Fees that match: $0 minimum to open, $0 commissions on regular stock trades, and $0.65 per options contract at both brokers. Options exercise and assignment are $0 at each. Account transfers (ACAT), whether partial or full, are also $0 at both. IRA annual fees are $0 for each provider.

Where they diverge: Interactive Brokers shows a 6.83% margin rate for balances below $25,000, $25,000–$49,999, and $50,000–$99,999, while Merrill Edge’s margin rates vary. For retirement savers, Interactive Brokers charges $0 to close an IRA, compared with Merrill Edge’s $49.95. If you rely on margin or expect to close an IRA, those differences may sway your choice; otherwise, trading costs are largely the same.

Feature Interactive Brokers logoInteractive Brokers
Merrill Edge logoMerrill Edge
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Options (Per Contract) info $0.65 info $0.65
Options Exercise Fee info $0.00 $0.00
Options Assignment Fee info $0.00 $0.00
IRA Annual Fee info $0.00 $0.00
IRA Closure Fee info $0.00 $49.95

Dive deeper: Best Free Trading Platforms for 2025

Day Trading

For active traders seeking a comprehensive online broker, Interactive Brokers and Merrill Edge present distinct features and capabilities. Interactive Brokers stands out with its extensive set of tools, offering streaming time and sales for stocks, streaming live TV, direct market routing, ladder trading, and trading hotkeys for swift keyboard trade entry. Furthermore, its platform supports both basic and advanced strategy backtesting. Traders can benefit from a short locator tool that displays real-time availability of shares available for shorting. Additionally, Interactive Brokers provides order liquidity rebates, adding to the incentives for frequent trading activity.

On the other hand, Merrill Edge offers some essential features like streaming time and sales and level 2 quotes, but lacks in several areas compared to its counterpart. Notably, it does not provide streaming live TV, direct market routing, ladder trading, or advanced strategy backtesting. The absence of a short locator tool and order liquidity rebates may be a disadvantage for day traders who rely on these tools for efficient trading and reducing overall costs. Overall, when it comes to features tailored for active day trading, Interactive Brokers is more equipped to serve proactive traders looking to leverage advanced trading strategies and tools.

Feature Interactive Brokers logoInteractive Brokers
Merrill Edge logoMerrill Edge
Streaming Time & Sales info Yes Yes
Streaming TV info Yes No
Direct Market Routing - Equities info Yes No
Level 2 Quotes - Stocks info Yes Yes
Trade Ideas - Backtesting info Yes Yes
Trade Ideas - Backtesting Adv info Yes No
Short Locator info Yes No

Dive deeper: Best Day Trading Platforms for 2025

Market Research

Interactive Brokers vs. Merrill Edge for market research: both earn 5-star ratings, but Interactive Brokers takes a slight lead. It ranks #4 of 14 brokers at StockBrokers.com (Merrill Edge is #5) and offers more breadth in a few key places, including social media sentiment data for stocks and a larger library of downloadable stock reports (17 providers vs. Merrill’s 3). If you want the widest variety of perspectives and data, Interactive Brokers is the stronger fit, while Merrill Edge still delivers excellent, easy-to-use research.

Both brokers cover the core asset classes investors care about. You’ll find research for stocks, ETFs, mutual funds, bonds, and even Pink Sheets/OTC securities at each firm. Each platform supports ESG research, shows your portfolio allocation by asset class, and provides downloadable PDF reports for ETFs and mutual funds. Idea generation is also well served on both sides with screeners for stocks, ETFs, mutual funds, and bonds.

The big differences show up in depth and sources. Interactive Brokers adds stock research powered by social media sentiment, which Merrill Edge does not offer. And when it comes to vendor coverage for stock reports, Interactive Brokers pulls from 17 providers compared with 3 at Merrill Edge. Despite these gaps, both platforms are highly rated; Interactive Brokers simply edges ahead in overall research firepower and independent rankings.

Feature Interactive Brokers logoInteractive Brokers
Merrill Edge logoMerrill Edge
Research - Stocks info Yes Yes
Screener - Stocks info Yes Yes
Research - ETFs info Yes Yes
Screener - ETFs info Yes Yes
Research - Mutual Funds info Yes Yes
Screener - Mutual Funds info Yes Yes
Research - Fixed Income info Yes Yes
Screener - Fixed Income info Yes Yes
Research 5/5 Stars 5/5 Stars

Banking

When comparing the banking capabilities of Interactive Brokers and Merrill Edge, it's clear they offer distinct services. Interactive Brokers does not provide traditional banking features like checking or savings accounts, nor do they offer debit or credit cards, or mortgage loans. Merrill Edge, on the other hand, extends a suite of banking services, including checking and savings accounts, debit and credit cards, as well as mortgage loan options. Both brokers provide certificates of deposit (CDs), allowing customers to invest in this secure option. For anyone seeking comprehensive banking services alongside brokerage offerings, Merrill Edge stands out as a more versatile choice compared to Interactive Brokers.

Feature Interactive Brokers logoInteractive Brokers
Merrill Edge logoMerrill Edge
Checking Accounts info No Yes
Savings Accounts info No Yes
Debit Cards info No Yes
Credit Cards info No Yes
Mortgage Loans info No Yes
Brokerage CDs info Yes Yes

Dive deeper: Best Brokerage Checking Accounts for 2025

Winner

After opening live accounts and testing 14 of the best online brokers, our research and live account testing finds that Interactive Brokers is better than Merrill Edge. Interactive Brokers finished with an overall score of 96.9%, while Merrill Edge finished with a score of 92.7%.

Interactive Brokers is a go-to choice for professionals because of its institutional-grade desktop trading platform, high-quality trade executions and rock-bottom margin rates.

FAQs

Can you trade cryptocurrency with Interactive Brokers or Merrill Edge?

Interactive Brokers stands out by offering cryptocurrency trading with access to 11 different coins, whereas Merrill Edge currently does not support crypto trading.

Dive deeper: Best Online Brokers for Crypto Trading in 2025

Does Interactive Brokers or Merrill Edge offer IRAs?

Both Interactive Brokers and Merrill Edge offer traditional and Roth IRA accounts without any annual fees. However, while Interactive Brokers does not charge a closure fee for IRA accounts, Merrill Edge imposes a $49.95 fee for closing them.

Dive deeper: Best IRA Accounts for 2025

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Compare

0 of 5
Overall Rating Interactive Brokers Merrill Edge
Overall 5/5 Stars 4.5/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 4/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 5/5 Stars
Customer Service 4/5 Stars 4.0/5 Stars
Education 5/5 Stars 4.5/5 Stars
Ease of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review Interactive Brokers Review Merrill Edge Review
Broker Screenshots Interactive Brokers Merrill Edge
Broker Gallery (click to expand)
Trading Fees Interactive Brokers Merrill Edge
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Penny Stock Fees (OTC) info $0.01 N/A
Mutual Fund Trade Fee info $14.95 info Varies info
Options (Per Contract) info $0.65 info $0.65
Futures (Per Contract) info $0.85 info (Not offered)
Broker Assisted Trade Fee info Varies info $29.95
Margin Rates Interactive Brokers Merrill Edge
Margin Rate Under $25,000 info 6.83% info Varies info
Margin Rate $25,000 to $49,999.99 info 6.83% info Varies info
Margin Rate $50,000 to $99,999.99 info 6.83% info Varies info
Margin Rate $100,000 to $249,999.99 info 6.83% info Varies info
Margin Rate $250,000 to $499,999.99 info 6.83% info Varies info
Margin Rate $500,000 to $999,999.99 info 6.83% info Varies info
Margin Rate Above $1,000,000 info 6.83% info Varies info
Account Fees Interactive Brokers Merrill Edge
IRA Annual Fee info $0.00 $0.00
IRA Closure Fee info $0.00 $49.95
Account Transfer Out (Partial) info $0.00 $0.00
Account Transfer Out (Full) info $0.00 $0.00
Options Exercise Fee info $0.00 $0.00
Options Assignment Fee info $0.00 $0.00
Investment Options Interactive Brokers Merrill Edge
Stock Trading info Yes Yes
Account Feature - Margin Trading info Yes Yes
Fractional Shares (Stocks) info Yes No
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 6 4
Futures Trading info Yes No
Forex Trading info Yes No
Crypto Trading info Yes info No
Crypto Trading - Total Coins info 11 info 0
Fixed Income (Treasurys) info Yes Yes
Fixed Income (Corporate Bonds) info Yes Yes
Fixed Income (Municipal Bonds) info Yes Yes
Traditional IRAs info Yes Yes
Roth IRAs info Yes Yes
Advisor Services info No Yes
International Countries (Stocks) info 36 0
Order Types Interactive Brokers Merrill Edge
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes Yes
Order Type - OCO info Yes No
Order Type - OTO info Yes No
Order Type - Broker Assisted info Yes Yes
Beginners Interactive Brokers Merrill Edge
Education (Stocks) info Yes Yes
Education (ETFs) info Yes Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes Yes
Education (Fixed Income) info Yes Yes
Education (Retirement) info Yes Yes
Retirement Calculator info Yes Yes
Investor Dictionary info Yes Yes
Paper Trading info Yes No
Videos info Yes Yes
Webinars info Yes No
Progress Tracking info Yes No
Interactive Learning - Quizzes info Yes Yes
Stock Trading Apps Interactive Brokers Merrill Edge
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info Yes No
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes Yes
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes Yes
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes No
Stock App Features Interactive Brokers Merrill Edge
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info Yes No
Videos on Demand info Yes No
Stock Alerts info Yes Yes
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes Yes
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info Yes No
Stock App Charting Interactive Brokers Merrill Edge
Charting - After-Hours info Yes No
Charting - Can Turn Horizontally info Yes Yes
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 97 34
Charting - Study Customizations info Yes Yes
Charting - Stock Comparisons info Yes Yes
Trading Platforms Interactive Brokers Merrill Edge
Active Trading Platform info Trader Workstation (TWS) Merrill Edge Market Pro
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info Yes No
Web Trading Platform info Yes Yes
Paper Trading info Yes No
Trade Journal info Yes No
Watch Lists - Total Fields info 659 285
Stock Chart Features Interactive Brokers Merrill Edge
Charting - Adjust Trades on Chart info Yes Yes
Charting - Indicators / Studies info 155 105
Charting - Drawing Tools info 85 23
Charting - Notes info Yes Yes
Charting - Historical Trades info Yes Yes
Charting - Corporate Events info Yes Yes
Charting - Custom Date Range info Yes Yes
Charting - Custom Time Bars info Yes Yes
Charting - Automated Analysis info Yes Yes
Charting - Save Profiles info Yes Yes
Trade Ideas - Technical Analysis info Yes Yes
Charting - Study Customizations info 6 8
Charting - Custom Studies info No No
Day Trading Interactive Brokers Merrill Edge
Streaming Time & Sales info Yes Yes
Streaming TV info Yes No
Direct Market Routing - Equities info Yes No
Ladder Trading info Yes No
Trade Hot Keys info Yes No
Level 2 Quotes - Stocks info Yes Yes
Trade Ideas - Backtesting info Yes Yes
Trade Ideas - Backtesting Adv info Yes No
Short Locator info Yes No
Order Liquidity Rebates info Yes No
Research Overview Interactive Brokers Merrill Edge
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes Yes
Research - Pink Sheets / OTCBB info Yes Yes
Research - Fixed Income info Yes Yes
Screener - Stocks info Yes Yes
Screener - ETFs info Yes Yes
Screener - Mutual Funds info Yes Yes
Screener - Fixed Income info Yes Yes
Portfolio Asset Allocation info Yes Yes
Stock Research Interactive Brokers Merrill Edge
Stock Research - PDF Reports info 17 info 3
Stock Research - Earnings info Yes Yes
Stock Research - Insiders info Yes Yes
Stock Research - Social info Yes No
Stock Research - News info Yes Yes
Stock Research - ESG info Yes Yes
Stock Research - SEC Filings info Yes Yes
ETF Research Interactive Brokers Merrill Edge
ETFs - Investment Objective info Yes Yes
ETF Fund Facts - Inception Date info Yes Yes
ETF Fund Facts - Expense Ratio info Yes Yes
ETF Fund Facts - Total Assets info Yes Yes
ETF Fund Facts - Total Holdings info Yes Yes
ETFs - Top 10 Holdings info Yes Yes
ETFs - Sector Exposure info Yes Yes
ETFs - Risk Analysis info Yes Yes
ETFs - Ratings info Yes Yes
ETFs - Morningstar StyleMap info Yes Yes
ETFs - PDF Reports info Yes Yes
Mutual Fund Research Interactive Brokers Merrill Edge
Mutual Funds - Investment Objective info Yes Yes
Mutual Funds - Performance Chart info Yes Yes
Mutual Funds - Performance Analysis info Yes Yes
Mutual Funds - Prospectus info Yes Yes
Mutual Funds - 3rd Party Ratings info Yes Yes
Mutual Funds - Fees Breakdown info Yes Yes
Mutual Funds - Top 10 Holdings info Yes Yes
Mutual Funds - Asset Allocation info Yes Yes
Mutual Funds - Sector Allocation info Yes Yes
Mutual Funds - Country Allocation info Yes Yes
Mutual Funds - StyleMap info Yes Yes
Options Trading Interactive Brokers Merrill Edge
Option Chains - Total Greeks info 5 5
Option Analysis - P&L Charts info Yes Yes
Banking Interactive Brokers Merrill Edge
Bank (Member FDIC) info No Yes
Checking Accounts info No Yes
Savings Accounts info No Yes
Credit Cards info No Yes
Debit Cards info No Yes
Mortgage Loans info No Yes
Customer Service Interactive Brokers Merrill Edge
Phone Support (Prospective Customers) info Yes Yes
Phone Support (Current Customers) info Yes Yes
Email Support info Yes No
Live Chat (Prospective Customers) info No Yes
Live Chat (Current Customers) info Yes Yes
24/7 Support info Yes Yes
Overall Interactive Brokers Merrill Edge
Overall 5/5 Stars 4.5/5 Stars
Range of Investments 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 4/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 5/5 Stars
Education 5/5 Stars 4.5/5 Stars
Ease of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review Interactive Brokers Review Merrill Edge Review
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