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Interactive Brokers vs Merrill Edge 2026

StockBrokers.com

Written by StockBrokers.com

September 17, 2025
  Fact Checked

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

Interactive Brokers comes out ahead for investors who want more ways to trade and invest in one account. Both brokers offer stocks, margin, OTC stocks, mutual funds, options, traditional IRA accounts, and Roth IRA accounts. However, Interactive Brokers also supports fractional shares, forex, futures, and crypto trading, while Merrill Edge does not offer those choices. With a 5-star rating for Range of Investments and a #1 ranking out of 14 brokers from StockBrokers.com, Interactive Brokers is the stronger pick for people looking for the widest selection of investment options.

Merrill Edge still covers the basics well for many everyday investors. It offers stock trading, margin trading, OTC stocks, mutual funds, options trading, and both traditional and Roth IRA accounts. It also stands out by offering advisor services, which Interactive Brokers does not. That makes Merrill Edge a good choice for investors who want guided support and a solid set of core investment products, even though its range is narrower overall.

When comparing Interactive Brokers vs. Merrill Edge for account investment options, the main difference is breadth. Interactive Brokers gives traders access to more markets and asset types, including fractional shares and crypto with 20 coins available, while Merrill Edge keeps things simpler and more focused on traditional investing. If your priority is the widest possible range of investments, Interactive Brokers has the edge; if you value advice and a straightforward lineup, Merrill Edge may fit your needs better.

Feature Interactive Brokers logoInteractive Brokers
Merrill Edge logoMerrill Edge
Stock Trading Yes Yes
Account Feature - Margin Trading Yes Yes
Fractional Shares (Stocks) Yes No
OTC Stocks Yes Yes
Mutual Funds Yes Yes
Options Trading Yes Yes
Futures Trading Yes No
Crypto Trading Yes No
Crypto Trading - Total Coins 20 0
Range of Investments 5/5 Stars 4/5 Stars

Dive deeper: Best Options Trading Platforms & Brokers for 2026, Best Futures Trading Platforms for 2026

Trading platforms and tools

Bottom line: In the Interactive Brokers vs Merrill Edge matchup for trading platforms and tools, Interactive Brokers comes out ahead. It offers desktop apps for both Windows and Mac, plus paper trading and a built-in trading journal, and it packs in deeper charting and watchlist customization. Ratings back this up: Interactive Brokers earns 4.5/5 stars and ranks #2 of 14 with StockBrokers.com, while Merrill Edge scores 3.5/5 stars and ranks #7. Merrill Edge is fine for basic browser trading, but it lacks desktop apps, paper trading, and a journal.

Platform access and workflow: Interactive Brokers provides downloadable desktop platforms for Windows and Mac, while Merrill Edge does not offer desktop software; both have browser-based trading. Only Interactive Brokers includes paper trading and a trading journal. For watchlists, Interactive Brokers supports 659 columns versus Merrill Edge’s 285, giving more ways to sort and track markets. Both brokers let you modify open orders directly on a stock chart.

Charting and customization: Interactive Brokers features 155 technical indicators and 85 drawing tools, compared with Merrill Edge’s 105 indicators and 23 drawing tools. Both brokers let you add notes, show past trades, display corporate events, set custom date ranges, use automated chart pattern recognition, and save multiple chart profiles. When editing a simple moving average, Merrill Edge offers 8 tweakable fields versus 6 at Interactive Brokers, but neither platform allows fully custom studies.

Feature Interactive Brokers logoInteractive Brokers
Merrill Edge logoMerrill Edge
Web Trading Platform Yes Yes
Desktop Trading Platform Yes No
Desktop Platform (Mac) Yes No
Paper Trading Yes No
Watchlists - Total Fields 659 285
Charting - Indicators / Studies 155 105
Charting - Drawing Tools 85 23
Advanced Trading 4.5/5 Stars 3.5/5 Stars

Dive deeper: Best Brokerage Accounts and Online Stock Brokers for 2026, Best Paper Trading Apps and Simulators for 2026

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Beginners and education

Interactive Brokers and Merrill Edge both offer a wide range of education for beginner and experienced investors, covering stocks, ETFs, options, mutual funds, and bonds. Each provides educational videos, webinars, and quizzes to help you learn at your own pace. Both brokers earn 4 out of 5 stars for education, reflecting solid content and tools that explain core investing topics in plain language.

Where they differ is in hands-on practice and guidance. Interactive Brokers includes paper trading and lets you track your learning progress, while Merrill Edge does not offer these features. That extra practice and structure help give Interactive Brokers an edge for beginners who want to test-drive strategies and see their progress. It’s also reflected in StockBrokers.com’s rankings: Interactive Brokers places #3 out of 14 for education, while Merrill Edge ranks #6. Still, Merrill Edge’s videos, webinars, and quizzes make it a good pick for learning the basics.

Feature Interactive Brokers logoInteractive Brokers
Merrill Edge logoMerrill Edge
Education (Stocks) Yes Yes
Education (ETFs) Yes Yes
Education (Options) Yes Yes
Education (Mutual Funds) Yes Yes
Education (Fixed Income) Yes Yes
Videos Yes Yes
Webinars Yes Yes
Education 4/5 Stars 4/5 Stars

Dive deeper: Best Trading Platforms and Brokerage Accounts for Beginners in 2026

Stock trading apps

For mobile stock trading apps, Interactive Brokers comes out ahead of Merrill Edge overall. Both brokers offer iPhone and Android apps, streaming quotes, mobile options trading, stock alerts, custom watch lists, after-hours charting, landscape chart views, multiple time frames, and stock comparison tools. But Interactive Brokers adds more for active traders, including an Apple Watch app, mobile after-hours stock trading, streaming live TV, video on demand, and more charting flexibility. It also earns a 5-star rating for stock trading apps and ranks #2 out of 14 brokers, compared with Merrill Edge’s 4 stars and #9 ranking.

On the app access side, both brokers cover the basics well. You can trade and monitor stocks from either provider on iPhone or Android, and both include streaming quotes plus mobile options trading. If you like setting alerts and building watch lists, each broker supports those features. Where Interactive Brokers pulls ahead is in convenience and depth, since it also offers an Apple Watch app and lets users customize watch list columns, which Merrill Edge does not.

Charting is another area where Interactive Brokers offers more detail for mobile users. Both apps let you chart after hours, rotate into landscape mode, and switch between multiple time frames. However, Interactive Brokers includes 100 technical studies in its mobile charting tools, while Merrill Edge offers 34. For investors who want a simpler app experience, Merrill Edge still covers the main needs, but Interactive Brokers is the stronger choice for traders who want more tools and more ways to analyze stocks on the go.

Feature Interactive Brokers logoInteractive Brokers
Merrill Edge logoMerrill Edge
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes No
Stock Alerts Yes Yes
Charting - After-Hours Yes Yes
Charting - Technical Studies 100 34
Mobile Trading Apps 5/5 Stars 4/5 Stars

Dive deeper: Best Stock Trading Apps of 2026

Fees

Interactive Brokers and Merrill Edge are closely matched on the most common account costs, and both stand out for keeping several core fees at $0.00. Each broker offers no minimum deposit, $0 stock trades, and a $0.65 fee per options contract. IRA annual fees are also $0.00 at both firms, and neither charges for partial or full account transfers, or for options exercise and assignment. Overall, if you are comparing the two mainly on basic investing costs, the difference is small, with Merrill Edge charging one notable extra fee: a $49.95 IRA closure fee.

For margin accounts, Interactive Brokers lists a clear rate of 6.38% for balances below $25,000, as well as for balances between $25,000 and $49,999 and between $50,000 and $99,999. Merrill Edge, by contrast, shows margin rates as “varies,” so its pricing is less straightforward to compare from the information available here.

If your goal is to keep account and trading charges low, both brokers offer low-cost entry points and similar pricing for stock and options trading. Interactive Brokers has an edge on IRA closure fees because it charges nothing, while Merrill Edge’s $49.95 fee could matter if you expect to close an IRA in the future.

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

Dive deeper: Best Free Stock Trading Platforms and Commission-Free Apps for 2026

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 Yes Yes
Streaming TV Yes No
Direct Market Routing - Equities Yes No
Level 2 Quotes - Stocks Yes Yes
Trade Ideas - Backtesting Yes Yes
Trade Ideas - Backtesting Adv Yes No
Short Locator Yes No

Dive deeper: Best Day Trading Platforms and Apps for 2026

Market Research

Interactive Brokers and Merrill Edge are both strong choices for investors who want solid market research tools, and each earns 4.5 out of 5 stars for research. Merrill Edge has a slight edge in the StockBrokers.com rankings, coming in at #4 out of 14 brokers compared with Interactive Brokers at #5, but Interactive Brokers stands out for giving users more depth in a few key areas. For readers looking for the better all-around research experience, Merrill Edge is very competitive, while Interactive Brokers may appeal more to active investors who want extra data and more report options.

Both brokers offer stock, ETF, mutual fund, pink sheets/OTCBB, and bond research, along with downloadable PDF reports for ETFs and mutual funds. They also both include screeners for stocks, ETFs, mutual funds, and bonds, plus tools that show portfolio allocation by asset class. This means either platform can help users compare investments, narrow down ideas, and review portfolio exposure with ease.

Where Interactive Brokers pulls ahead is in more advanced research features. It offers stock research using social media sentiment data and ESG research, while Merrill Edge does not offer those tools. Interactive Brokers also provides 17 downloadable stock research PDFs, compared with 3 at Merrill Edge, giving it a wider selection of written stock analysis for investors who want more background before making a decision.

Feature Interactive Brokers logoInteractive Brokers
Merrill Edge logoMerrill Edge
Research - Stocks Yes Yes
Screener - Stocks Yes Yes
Research - ETFs Yes Yes
Screener - ETFs Yes Yes
Research - Mutual Funds Yes Yes
Screener - Mutual Funds Yes Yes
Research - Fixed Income Yes Yes
Screener - Fixed Income Yes Yes
Research 4.5/5 Stars 4.5/5 Stars

Banking

Interactive Brokers vs Merrill Edge for banking capabilities: Merrill Edge delivers a wider range of bank-style services, offering checking and savings accounts, a debit card, credit cards, mortgage loans, and CDs. Interactive Brokers does not provide checking or savings accounts, a debit card, or mortgages, but it does offer credit cards and CDs. If you want everyday banking features—like a checking account tied to a debit card, a savings account for cash, and the ability to apply for a mortgage—Merrill Edge is the better choice. If you mainly need a brokerage with a credit card and access to certificates of deposit, Interactive Brokers can meet those needs.

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

Dive deeper: Best Brokerage Accounts with Checking: Top Bank Brokers

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 90.6%, while Merrill Edge finished with a score of 81.9%.

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

FAQs

Can you trade cryptocurrency with Interactive Brokers or Merrill Edge?

Interactive Brokers and Merrill Edge differ significantly for cryptocurrency investors: Interactive Brokers offers crypto trading with access to 20 coins, while Merrill Edge does not offer crypto trading at all. For traders seeking a brokerage with cryptocurrency access, Interactive Brokers has the clear advantage over Merrill Edge.

Dive deeper: Best Online Brokers for Crypto Trading in 2026

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 2026

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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 Stars
Advanced Trading 4.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4.5/5 Stars
Customer Service 3.5/5 Stars 3.5/5 Stars
Education 4/5 Stars 4/5 Stars
Ease of Use 4/5 Stars 4/5 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 $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) $0.005 N/A
Mutual Fund Trade Fee $14.95 Varies
Options (Per Contract) $0.65 $0.65
Futures (Per Contract) $0.85 (Not offered)
Broker Assisted Trade Fee Varies $29.95
Margin Rates Interactive Brokers Merrill Edge
Margin Rate Under $25,000 6.38% Varies
Margin Rate $25,000 to $49,999.99 6.38% Varies
Margin Rate $50,000 to $99,999.99 6.38% Varies
Margin Rate $100,000 to $249,999.99 6.38% Varies
Margin Rate $250,000 to $499,999.99 6.38% Varies
Margin Rate $500,000 to $999,999.99 6.38% Varies
Margin Rate Above $1,000,000 6.38% Varies
Account Fees Interactive Brokers Merrill Edge
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $49.95
Account Transfer Out (Partial) $0.00 $0.00
Account Transfer Out (Full) $0.00 $0.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment Options Interactive Brokers Merrill Edge
Stock Trading Yes Yes
Account Feature - Margin Trading Yes Yes
Fractional Shares (Stocks) Yes No
OTC Stocks Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 6 4
Futures Trading Yes No
Forex Trading Yes No
Crypto Trading Yes No
Crypto Trading - Total Coins 20 0
Fixed Income (Treasurys) Yes Yes
Fixed Income (Corporate Bonds) Yes Yes
Fixed Income (Municipal Bonds) Yes Yes
Traditional IRAs Yes Yes
Roth IRAs Yes Yes
Advisor Services No Yes
International Countries (Stocks) 40 0
Order Types Interactive Brokers Merrill Edge
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes Yes
Order Type - Trailing Stop Yes Yes
Order Type - OCO Yes No
Order Type - OTO Yes No
Order Type - Broker Assisted Yes Yes
Beginners Interactive Brokers Merrill Edge
Education (Stocks) Yes Yes
Education (ETFs) Yes Yes
Education (Options) Yes Yes
Education (Mutual Funds) Yes Yes
Education (Fixed Income) Yes Yes
Education (Retirement) Yes Yes
Retirement Calculator Yes Yes
Investor Dictionary Yes Yes
Paper Trading Yes No
Videos Yes Yes
Webinars Yes Yes
Progress Tracking Yes No
Interactive Learning - Quizzes Yes Yes
Stock Trading Apps Interactive Brokers Merrill Edge
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes No
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes Yes
Trading - Complex Options Yes Yes
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes Yes No
Stock App Features Interactive Brokers Merrill Edge
Mobile Research - Market Movers Yes Yes
Stream Live TV Yes No
Videos on Demand Yes No
Stock Alerts Yes Yes
Option Chains Viewable Yes Yes
Watchlist (Real-time) Yes Yes
Watchlist (Streaming) Yes Yes
Mobile Watchlists - Create & Manage Yes Yes
Mobile Watchlists - Column Customization Yes No
Stock App Charting Interactive Brokers Merrill Edge
Charting - After-Hours Yes Yes
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 100 34
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons Yes Yes
Trading Platforms Interactive Brokers Merrill Edge
Active Trading Platform IBKR Desktop and Trader Workstation (TWS) Merrill Edge Market Pro
Desktop Trading Platform Yes No
Desktop Platform (Mac) Yes No
Web Trading Platform Yes Yes
Paper Trading Yes No
Trade Journal Yes No
Watchlists - Total Fields 659 285
Stock Chart Features Interactive Brokers Merrill Edge
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 155 105
Charting - Drawing Tools 85 23
Charting - Notes Yes Yes
Charting - Historical Trades Yes Yes
Charting - Corporate Events Yes Yes
Charting - Custom Date Range Yes Yes
Charting - Custom Time Bars Yes Yes
Charting - Automated Analysis Yes Yes
Charting - Save Profiles Yes Yes
Trade Ideas - Technical Analysis Yes Yes
Charting - Study Customizations 6 8
Charting - Custom Studies No No
Day Trading Interactive Brokers Merrill Edge
Streaming Time & Sales Yes Yes
Streaming TV Yes No
Direct Market Routing - Equities Yes No
Ladder Trading Yes No
Trade Hot Keys Yes No
Level 2 Quotes - Stocks Yes Yes
Trade Ideas - Backtesting Yes Yes
Trade Ideas - Backtesting Adv Yes No
Short Locator Yes No
Order Liquidity Rebates Yes No
Research Overview Interactive Brokers 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
Screener - Stocks Yes Yes
Screener - ETFs Yes Yes
Screener - Mutual Funds Yes Yes
Screener - Fixed Income Yes Yes
Portfolio Asset Allocation Yes Yes
Stock Research Interactive Brokers Merrill Edge
Stock Research - PDF Reports 17 3
Stock Research - Earnings Yes Yes
Stock Research - Insiders Yes Yes
Stock Research - Social Yes No
Stock Research - News Yes Yes
Stock Research - ESG Yes No
Stock Research - SEC Filings Yes Yes
ETF Research Interactive Brokers Merrill Edge
ETFs - Investment Objective Yes Yes
ETF Fund Facts - Inception Date Yes Yes
ETF Fund Facts - Expense Ratio Yes Yes
ETF Fund Facts - Total Assets Yes Yes
ETF Fund Facts - Total Holdings Yes Yes
ETFs - Top 10 Holdings Yes Yes
ETFs - Sector Exposure Yes Yes
ETFs - Risk Analysis Yes Yes
ETFs - Ratings Yes Yes
ETFs - Morningstar StyleMap Yes Yes
ETFs - PDF Reports Yes Yes
Mutual Fund Research Interactive Brokers Merrill Edge
Mutual Funds - Investment Objective Yes Yes
Mutual Funds - Performance Chart Yes Yes
Mutual Funds - Performance Analysis Yes Yes
Mutual Funds - Prospectus Yes Yes
Mutual Funds - 3rd Party Ratings Yes 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
Options Trading Interactive Brokers Merrill Edge
Option Chains - Total Greeks 4 5
Option Analysis - P&L Charts Yes Yes
Banking Interactive Brokers Merrill Edge
Bank (Member FDIC) No Yes
Checking Accounts No Yes
Savings Accounts No Yes
Credit Cards Yes Yes
Debit Cards No Yes
Mortgage Loans No Yes
Customer Service Interactive Brokers Merrill Edge
Phone Support (Prospective Customers) Yes Yes
Phone Support (Current Customers) Yes Yes
Email Support Yes No
Live Chat (Prospective Customers) No Yes
Live Chat (Current Customers) Yes Yes
24/7 Support Yes Yes
Overall Interactive Brokers Merrill Edge
Overall 5/5 Stars 4.5/5 Stars
Range of Investments 5/5 Stars 4/5 Stars
Advanced Trading 4.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4.5/5 Stars
Education 4/5 Stars 4/5 Stars
Ease of Use 4/5 Stars 4/5 Stars
Winner check_circle
Review Interactive Brokers Review Merrill Edge Review
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