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Interactive Brokers vs Merrill Edge 2022

Is Interactive Brokers better than Merrill Edge? After testing 15 of the best online brokers over six months, Interactive Brokers (89.29%) is better than Merrill Edge (84.89%). 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.

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Overall Rating expand_moreexpand_less Interactive Brokers Merrill Edge
Overall starstarstarstarstar_border starstarstarstarstar_border
Commissions & Fees starstarstarstarstar_border starstarstarstarstar_border
Investment Options starstarstarstarstar starstarstarstarstar_border
Platforms & Tools starstarstarstarstar_border starstarstarstarstar_border
Mobile Trading Apps starstarstarstarstar_border starstarstarstarstar_border
Research starstarstarstarstar starstarstarstarstar_border
Customer Service starstarstarstar_borderstar_border starstarstarstarstar_border
Education starstarstarstarstar_border starstarstarstarstar_border
Ease Of Use starstarstarstarstar_border starstarstarstarstar_border
Winner check_circle
Review Interactive Brokers Review Merrill Edge Review
Trading Fees expand_moreexpand_less Interactive Brokers Merrill Edge
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Mutual Fund Trade Fee $14.95 $19.95
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.65
Futures (Per Contract) $0.85 N/A
Broker Assisted Trade Fee $30.00 $29.95
Margin Rates expand_moreexpand_less Interactive Brokers Merrill Edge
Margin Rate Under $24,999.99 1.58% 8.63%
Margin Rate $25,000.00 to $49,999.99 1.58% 7.50%
Margin Rate $50,000.00 to $99,999.99 1.58% 7.50%
Margin Rate $100,000.00 to $249,999.99 1.08% N/A
Margin Rate $250,000.00 to $499,999.99 1.08% N/A
Margin Rate $500,000.00 to $999,999.99 1.08% N/A
Margin Rate Above $1,000,000.00 0.75% N/A
Account Fees expand_moreexpand_less 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 $49.95
Options Exercise Fee 0.00 2.95
Options Assignment Fee 0.00 2.95
Investment Options expand_moreexpand_less Interactive Brokers Merrill Edge
Stock Trading Yes Yes
Fractional Shares Yes No
OTCBB / Pink Sheets Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 6 4
Futures Trading Yes No
Forex Trading No No
Crypto Trading Yes No
Crypto Trading - Total Coins 4 0
Mutual Funds (No Load) 10882 2952
Mutual Funds (Total) 11160 3466
Bonds (US Treasury) Yes Yes
Bonds (Corporate) Yes Yes
Bonds (Municipal) Yes Yes
Advisor Services No Yes
International Countries (Stocks) 33 0
Order Types expand_moreexpand_less 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 expand_moreexpand_less Interactive Brokers Merrill Edge
Education (Stocks) Yes Yes
Education (ETFs) Yes Yes
Education (Options) Yes Yes
Education (Mutual Funds) No Yes
Education (Bonds) Yes Yes
Education (Retirement) Yes Yes
Retirement Calculator No Yes
Investor Dictionary Yes Yes
Paper Trading Yes No
Videos Yes Yes
Webinars (Archived) Yes Yes
Progress Tracking Yes No
Interactive Learning - Quizzes Yes Yes
Stock Trading Apps expand_moreexpand_less Interactive Brokers Merrill Edge
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes Yes
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 expand_moreexpand_less Interactive Brokers Merrill Edge
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
Watch Lists - Total Fields 669 285
Stock App Charting expand_moreexpand_less Interactive Brokers Merrill Edge
Charting - After-Hours Yes No
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 70 34
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons No Yes
Trading Platforms expand_moreexpand_less Interactive Brokers Merrill Edge
Desktop Trading Platform Yes Yes
Web Trading Platform Yes Yes
Paper Trading Yes No
Trade Journal Yes No
Watch Lists - Total Fields 669 285
Stock Chart Features expand_moreexpand_less Interactive Brokers Merrill Edge
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 121 104
Charting - Drawing Tools 9 22
Charting - Notes Yes Yes
Charting - Index Overlays Yes Yes
Charting - Historical Trades Yes Yes
Charting - Corporate Events Yes Yes
Charting - Custom Date Range No 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 expand_moreexpand_less Interactive Brokers Merrill Edge
Streaming Time & Sales Yes Yes
Streaming TV Yes No
Direct Market Routing - Stocks 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 expand_moreexpand_less Interactive Brokers Merrill Edge
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes Yes
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes Yes
Screener - Stocks Yes Yes
Screener - ETFs Yes Yes
Screener - Mutual Funds Yes Yes
Screener - Bonds Yes Yes
Misc - Portfolio Allocation Yes Yes
Stock Research expand_moreexpand_less Interactive Brokers Merrill Edge
Stock Research - PDF Reports 5 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 expand_moreexpand_less Interactive Brokers Merrill Edge
ETFs - Strategy Overview Yes Yes
ETF Fund Facts - Inception Date Yes Yes
ETF Fund Facts - Expense Ratio Yes Yes
ETF Fund Facts - Net 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 expand_moreexpand_less Interactive Brokers Merrill Edge
Mutual Funds - Strategy Overview Yes Yes
Mutual Funds - Performance Chart No 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 expand_moreexpand_less Interactive Brokers Merrill Edge
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 37 68
Option Chains - Greeks 4 5
Option Chains - Quick Analysis Yes Yes
Option Analysis - P&L Charts Yes Yes
Option Probability Analysis Yes Yes
Option Probability Analysis Adv Yes No
Option Positions - Greeks Yes Yes
Option Positions - Greeks Streaming Yes Yes
Option Positions - Adv Analysis Yes Yes
Option Positions - Rolling Yes Yes
Option Positions - Grouping Yes Yes
Banking expand_moreexpand_less Interactive Brokers Merrill Edge
Bank (Member FDIC) Yes Yes
Checking Accounts Yes Yes
Savings Accounts No Yes
Credit Cards No Yes
Debit Cards Yes Yes
Mortgage Loans No Yes
Customer Service expand_moreexpand_less Interactive Brokers Merrill Edge
Phone Support (Prospect Customers) Yes Yes
Phone Support (Current Customers) Yes Yes
Email Support Yes Yes
Live Chat (Prospect Customers) No Yes
Live Chat (Current Customers) Yes Yes
24/7 Support No Yes
Overall expand_moreexpand_less Interactive Brokers Merrill Edge
Overall starstarstarstarstar_border starstarstarstarstar_border
Commissions & Fees starstarstarstarstar_border starstarstarstarstar_border
Investment Options starstarstarstarstar starstarstarstarstar_border
Platforms & Tools starstarstarstarstar_border starstarstarstarstar_border
Mobile Trading Apps starstarstarstarstar_border starstarstarstarstar_border
Research starstarstarstarstar starstarstarstarstar_border
Education starstarstarstarstar_border starstarstarstarstar_border
Ease Of Use starstarstarstarstar_border starstarstarstarstar_border
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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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