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Merrill Edge vs Lightspeed Review

Blain Reinkensmeyer

Published by Blain Reinkensmeyer


Monday, April 8th, 2019

Is Lightspeed better than Merrill Edge? Based on over 4,000 data points from our 2019 annual broker review, Merrill Edge (77.93%) is better than Lightspeed (51.8%). Merrill Edge offers investors an excellent rewards program and a well-rounded package worth being a customer for, especially Bank of America clients.

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Overall

Trading Fees

Minimum Deposit
Stock Trade Fee (flat)
Options Base Fee
Options Per Contract Fee
Mutual Fund Trade Fee
Broker Assisted Trades Fee
IRA Annual Fee
IRA Closure Fee
Commissions & Fees
Winner

Margin Rates

Under $24,999.99
$25,000.00 to $49,999.99
$50,000.00 to $99,999.99
$100,000.00 to $249,999.99
$250,000.00 to $499,999.99
$500,000.00 to $999,999.99
Above $1,000,000.00
Commissions & Fees
Winner

Trading Platforms

Desktop Platform (Windows)
Desktop Platform (Mac)
Web Platform
Paper Trading
Trade Journal
Watch Lists - Total Fields
Two-Factor Authentication Login
Heat Mapping
Platforms & Tools
Winner

Charting Features

Charting - Trade Off Chart
Charting - Indicators / Studies
Charting - Drawing Tools
Charting - Historical Trades
Charting - Corporate Events
Charting - Automated Analysis
Charting - Save Profiles
Charting - Study Customizations
Charting - Custom Studies
Platforms & Tools
Winner

Day Trading

Stock Alerts - Basic Fields
Stock Alerts - Advanced Fields
Streaming Time & Sales
Streaming TV
Direct Market Routing - Stocks
Direct Market Routing - Options
Ladder Trading
Trade Hot Keys
Level 2 Quotes - Stocks
Level 2 Quotes - Options
Trade Ideas - Backtesting
Short Locator
Client Liquidity Rebates
Winner

Mobile Trading

iPhone App
Android App
Apple Watch App
Trading - Stocks
Trading - After-Hours
Trading - Conditional Orders
Trading - Mutual Funds
Trading - Simple Options
Trading - Complex Options
Trading - Option Rolling
Touch / Face ID
Watch List Syncing
Stock Alerts - Basic Fields
Stock Alerts - Advanced Fields
Charting - After Hours
Charting - Drawing
Charting - Study Customizations
Customizable Homescreen
Heatmapping
Stream Live TV
Barcode Lookup
Mobile Trading
Winner

Research Overview

Research - Stocks
Research - ETFs
Research - Mutual Funds
Research - Pink Sheets / OTCBB
Research - Fixed Income
Research - Futures
Research - Forex
Screener - Stocks
Screener - ETFs
Screener - Mutual Funds
Screener - Options
Screener - Bonds
Misc - Portfolio Builder
Misc - Portfolio Allocation
Research
Winner

Stock Research

Stock Research - Reports
Stock Research - Earnings
Stock Research - Insiders
Stock Research - Metric Comp
Stock Research - SEC Filings
Stock Research - Social
Stock Research - Balance Sheet
Stock Research - Cash Flows
Stock Research - News
Stock Research - ESG
Research
Winner

Fund Research

ETFs - Strategy Overview
ETFs - Top 10 Holdings
ETFs - Sector Exposure
ETFs - Risk Analysis
ETFs - Performance Analysis
ETFs - Ratings
ETFs - Morningstar StyleMap
ETFs - Reports
Mutual Funds - Strategy Overview
Mutual Funds - Prospectus
Mutual Funds - Reports
Mutual Funds - Fees Breakdown
Mutual Funds - Top 10 Holdings
Mutual Funds - Asset Allocation
Mutual Funds - Sector Allocation
Mutual Funds - Country Allocation
Mutual Funds - StyleMap
Mutual Funds - 3rd Party Ratings
Research
Winner

Options Trading

Option Chains - Streaming
Option Chains - Total Columns
Option Chains - Greeks
Option Chains - Quick Analysis
Option Analysis - P&L Charts
Option Probability Analysis
Option Probability Analysis Adv
Option Positions - Greeks
Option Positions - Adv Analysis
Option Positions - Rolling
Option Positions - Grouping
Platforms & Tools
Winner

Investments

Stock Trading
OTCBB / Pink Sheets
Options Trading
Complex Options Max Legs
Futures Trading
Forex Trading
Commission-Free ETFs
Mutual Funds (No Load)
Mutual Funds (Total)
Bonds (US Treasury)
Bonds (Corporate)
Bonds (Municipal)
Advisor Services
International Trading
Offering of Investments
Winner

Order Types

Order Type - Market
Order Type - Limit
Order Type - Stop
Order Type - Trailing Stop
Order Type - Contingent
Order Type - MultiContingent
Order Type - OCO
Order Type - OTO
Order Type - OTOCO
Offering of Investments
Winner

Beginners

Has Education - Stocks
Has Education - ETFs
Has Education - Options
Has Education - Mutual Funds
Has Education - Fixed Income
Has Education - Retirement
Paper Trading
Videos
Webinars (Monthly Avg)
Webinars (Archived)
Live Seminars
Progress Tracking
Interactive Learning - Quizzes
Investor Magazine
Education
Winner

Banking

Retail Locations
Member FDIC
Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
No Fee Banking
Banking
Winner

Overall

Overall
Winner
Special Offer Invest in a new account and get up to $600 Learn More
 
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The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers. This review compares Lightspeed vs Merrill Edge. Is Lightspeed or Merrill Edge a better online broker?

First, we will make a comparison of the stock and option trading fees for trading with both brokers. Merrill Edge, with its regular stock trades costing $6.95, is more expensive than Lightspeed's rate of $4.50 per trade. Looking at trading options, Lightspeed's base fee is $0 while Merrill Edge's is $6.95. Each option contract then costs $0.75 at Merrill Edge and $0.60 at Lightspeed. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews.

For our next comparison of these two brokers, being able to trade the way you want is a must. Merrill Edge supports Stock Trading, Options Trading and Mutual Funds while Lightspeed supports Stock Trading, Options Trading and Futures Trading. When it comes to mutual funds, Merrill Edge offers its clients access to 3709 different mutual funds while Lightspeed has 0 available funds, a difference of 3,709.

Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Lightspeed offers virtual trading while Merrill Edge does not. For mobile trading, Lightspeed along with Merrill Edge both support the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Merrill Edge while Lightspeed offers none of these.

Overall, between Lightspeed and Merrill Edge, Merrill Edge is the winner.

Lightspeed Review
Merrill Edge Review

All pricing data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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