Interactive Brokers vs Merrill Edge Comparison
Comparing brokers side by side is no easy task. For our 2022 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Interactive Brokers vs Merrill Edge.
Is Interactive Brokers or Merrill Edge better for beginners?
Interactive Brokers offers more comprehensive new investor education for beginner investors than Merrill Edge. Interactive Brokers offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement), while Merrill Edge offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement).
What about Interactive Brokers vs Merrill Edge pricing?
Interactive Brokers and Merrill Edge charge the same amount for regular stock trades, $0.00. Interactive Brokers and Merrill Edge both charge $0.65 per option contract. For a complete commissions summary, see our best brokers for free stock trading guide.
Does Interactive Brokers or Merrill Edge offer a wider range of investment options?
Interactive Brokers offers investors access to Stock Trading, Fractional Shares, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Futures Trading, while Merrill Edge offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Advisor Services, neither have Forex Trading. Looking at Mutual Funds, Merrill Edge trails Interactive Brokers in its offering of no transaction fee (NTF) mutual funds, with Interactive Brokers offering 4329 and Merrill Edge offering 3095.
Which trading platform is better: Interactive Brokers or Merrill Edge?
To compare the trading platforms of Interactive Brokers and Merrill Edge, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers 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 and Debit Cards are offered by Interactive Brokers while Merrill Edge offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Is Interactive Brokers good?
In 2022, Interactive Brokers remains our top pick for professionals because of its institutional-grade desktop trading platform and rock-bottom margin rates. Professionals aside, Interactive Brokers also appeals to active traders and casual investors with $0 trades and a user-friendly web platform.
Is Merrill Edge good?
Merrill Edge offers $0 trades with industry-leading research tools — especially for ESG research — and excellent customer service. Better yet, the Preferred Rewards program at Bank of America, Merrill Edge’s parent, offers the best rewards of any bank broker we tested in 2022.
Interactive Brokers vs Merrill Edge Winner
Overall winner: Interactive Brokers
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