Written by StockBrokers.com
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 vs. Merrill Edge: For the broadest range of investments, Interactive Brokers is the clear winner. It earns 5 stars for Range of Investments and ranks #1 out of 14 brokers at StockBrokers.com. Merrill Edge suits investors focused on core choices and advice, with 4 stars and a #7 ranking. Choose Interactive Brokers for more ways to trade; pick Merrill Edge if built-in guidance matters more than access to every asset class.
Both brokers offer stock trading, margin trading, mutual funds, options, and OTC stocks. Interactive Brokers goes further with fractional shares, plus forex, futures, and cryptocurrency trading (11 coins). Merrill Edge does not offer fractional shares, forex, futures, or crypto (0 coins).
For accounts, both Interactive Brokers and Merrill Edge support Traditional and Roth IRAs. If you want professional guidance, Merrill Edge offers advisor services, while Interactive Brokers does not. That difference may sway investors who prefer help building and managing a plan.
| Feature |
Interactive Brokers
|
Merrill 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 | 11 | 0 |
| Range of Investments |
|
|
Dive deeper: Best Options Trading Platforms for 2026, Best Futures Trading Platforms for 2026
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
|
Merrill 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 |
|
|
Dive deeper: Best Stock Brokers for 2026, Best Paper Trading Apps & Platforms for 2026
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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
|
Merrill 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 |
|
|
Dive deeper: Best Stock Trading Platforms & Apps for Beginners in 2026
Interactive Brokers takes the lead for stock trading apps. It earns 5 stars and ranks #2 out of 14 brokers at StockBrokers.com, while Merrill Edge earns 4 stars and ranks #9. IBKR’s edge comes from wider device support, richer market media, deeper charting, and more customization, making it the stronger pick for active traders who want more tools on mobile.
Both brokers offer iPhone and Android apps, streaming quotes, mobile options trading, stock alerts, custom watchlists, landscape charts, multiple chart time frames, and the ability to compare stocks on charts. Interactive Brokers also supports Apple Watch, lets you customize watchlist columns, and adds streaming live TV and videos on demand—features Merrill Edge does not include. IBKR supports after-hours trading on mobile; Merrill Edge’s mobile after-hours availability isn’t specified here. For charting depth, IBKR provides after-hours charting (Merrill does not) and 97 technical studies versus Merrill Edge’s 34.
| Feature |
Interactive Brokers
|
Merrill Edge
|
|---|---|---|
| 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 |
|
|
Dive deeper: Best Stock Trading Apps for 2026
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
|
Merrill 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 Trading Platforms for 2026
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
|
Merrill 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
Bottom line: Interactive Brokers and Merrill Edge both deliver strong market research, each earning 4.5 out of 5 stars. Merrill Edge holds a slightly higher placement in StockBrokers.com’s rankings (#4 vs. #5), but Interactive Brokers stands out for having more downloadable stock reports (17 vs. 3) and access to social media sentiment data. If you want the largest set of stock PDFs and extra data signals, go with Interactive Brokers. If you prioritize a slightly higher overall ranking, Merrill Edge is a safe pick.
Both brokers cover the essentials across asset classes: stock, ETF, mutual fund, pink sheets/OTC, and bond research are included. Each offers downloadable PDF reports for ETFs and mutual funds, plus portfolio allocation by asset class and ESG research. Traders can find ideas using stock, ETF, mutual fund, and bond screeners on both platforms.
Key differences center on depth and data sources. Interactive Brokers provides 17 downloadable stock research reports versus Merrill Edge’s 3 and includes stock research using social media sentiment, which Merrill Edge lacks. Despite those advantages for IBKR, Merrill Edge holds the higher research ranking from StockBrokers.com (#4) compared with Interactive Brokers (#5), while both share the same 4.5-star research rating.
| Feature |
Interactive Brokers
|
Merrill 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 |
|
|
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
|
Merrill 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 Checking Accounts for 2026
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.
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 2026
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.
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0 of 5| Overall Rating | Interactive Brokers | Merrill Edge | |
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| Winner | check_circle | ||
| Review | Interactive Brokers Review | Merrill Edge Review |
| Broker Screenshots | Interactive Brokers | Merrill Edge | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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| Trading Fees | Interactive Brokers | Merrill Edge | |
|---|---|---|---|
| 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 | |
|---|---|---|---|
| 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 | |
|---|---|---|---|
| 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 | 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 | |
|---|---|---|---|
| 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 | 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 | |
|---|---|---|---|
| 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 | Yes | |
| 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 | 5 | 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 | |
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| Review | Interactive Brokers Review | Merrill Edge Review |
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