Interactive Brokers vs Merrill Edge 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.
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.
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 |
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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 | 11 | 0 |
Range of Investments |
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Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025: A Beginner-Friendly Guide to an Advanced Market
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 |
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Web Trading Platform | Yes | Yes |
Desktop Trading Platform | Yes | No |
Desktop Platform (Mac) | Yes | No |
Paper Trading | Yes | No |
Watch Lists - Total Fields | 659 | 285 |
Charting - Indicators / Studies | 155 | 105 |
Charting - Drawing Tools | 85 | 23 |
Platforms & Tools |
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Dive deeper: Best Online Brokers & Trading Platforms for 2025, Best Paper Trading Apps & Platforms for 2025
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.
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Education (Stocks) | Yes | Yes |
Education (ETFs) | Yes | Yes |
Education (Options) | Yes | Yes |
Education (Mutual Funds) | Yes | Yes |
Education (Fixed Income) | Yes | Yes |
Paper Trading | Yes | No |
Videos | Yes | Yes |
Webinars | Yes | No |
Education |
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Dive deeper: Best Stock Trading Platforms for Beginners of 2025
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 |
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iPhone App | Yes | Yes |
Android App | Yes | Yes |
Apple Watch App | Yes | No |
Stock Alerts | Yes | Yes |
Charting - After-Hours | Yes | No |
Charting - Technical Studies | 97 | 34 |
Mobile Trading Apps |
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Dive deeper: Best Stock Trading Apps for 2025
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 |
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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 Trading Platforms for 2025
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 |
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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 for 2025
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 |
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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 |
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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 |
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Checking Accounts | No | Yes |
Savings Accounts | No | Yes |
Debit Cards | No | Yes |
Credit Cards | No | Yes |
Mortgage Loans | No | Yes |
Brokerage CDs | Yes | Yes |
Dive deeper: Best Brokerage Checking Accounts for 2025
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.
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
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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0 of 5Overall Rating | Interactive Brokers | Merrill Edge | |
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Mobile Trading Apps |
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Research |
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Customer Service |
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Education |
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Ease of Use |
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Winner | check_circle | ||
Review | Interactive Brokers Review | Merrill Edge Review |
Broker Screenshots | Interactive Brokers | Merrill Edge | |
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Broker Gallery (click to expand) |
Trading Fees | Interactive Brokers | Merrill Edge | |
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Minimum Deposit | $0.00 | $0.00 | |
Stock Trades | $0.00 | $0.00 | |
Penny Stock Fees (OTC) | $0.01 | 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 | |
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Margin Rate Under $25,000 | 6.83% | Varies | |
Margin Rate $25,000 to $49,999.99 | 6.83% | Varies | |
Margin Rate $50,000 to $99,999.99 | 6.83% | Varies | |
Margin Rate $100,000 to $249,999.99 | 6.83% | Varies | |
Margin Rate $250,000 to $499,999.99 | 6.83% | Varies | |
Margin Rate $500,000 to $999,999.99 | 6.83% | Varies | |
Margin Rate Above $1,000,000 | 6.83% | Varies |
Account Fees | Interactive Brokers | Merrill Edge | |
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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 | |
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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 | 11 | 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) | 36 | 0 |
Order Types | Interactive Brokers | Merrill Edge | |
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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 | |
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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 | No | |
Progress Tracking | Yes | No | |
Interactive Learning - Quizzes | Yes | Yes |
Stock Trading Apps | Interactive Brokers | Merrill Edge | |
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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 | |
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Market Movers (Top Gainers) | Yes | Yes | |
Stream Live TV | Yes | No | |
Videos on Demand | Yes | No | |
Stock Alerts | Yes | Yes | |
Option Chains Viewable | Yes | Yes | |
Watch List (Real-time) | Yes | Yes | |
Watch List (Streaming) | Yes | Yes | |
Watch Lists - Create & Manage | Yes | Yes | |
Watch Lists - Column Customization | Yes | No |
Stock App Charting | Interactive Brokers | Merrill Edge | |
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Charting - After-Hours | Yes | No | |
Charting - Can Turn Horizontally | Yes | Yes | |
Charting - Multiple Time Frames | Yes | Yes | |
Charting - Technical Studies | 97 | 34 | |
Charting - Study Customizations | Yes | Yes | |
Charting - Stock Comparisons | Yes | Yes |
Trading Platforms | Interactive Brokers | Merrill Edge | |
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Active Trading Platform | 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 | |
Watch Lists - Total Fields | 659 | 285 |
Stock Chart Features | Interactive Brokers | Merrill Edge | |
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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 | |
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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 | |
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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 | |
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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 | Yes | |
Stock Research - SEC Filings | Yes | Yes |
ETF Research | Interactive Brokers | Merrill Edge | |
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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 | |
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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 | |
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Option Chains - Total Greeks | 5 | 5 | |
Option Analysis - P&L Charts | Yes | Yes |
Banking | Interactive Brokers | Merrill Edge | |
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Bank (Member FDIC) | No | Yes | |
Checking Accounts | No | Yes | |
Savings Accounts | No | Yes | |
Credit Cards | No | Yes | |
Debit Cards | No | Yes | |
Mortgage Loans | No | Yes |
Customer Service | Interactive Brokers | Merrill Edge | |
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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 | |
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Platforms & Tools |
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Research |
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Education |
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Ease of Use |
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Winner | check_circle | ||
Review | Interactive Brokers Review | Merrill Edge Review |