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Merrill Edge vs Robinhood 2020

Is Merrill Edge better than Robinhood? After testing 15 of the best online brokers over five months, Merrill Edge (88.87%) is better than Robinhood (62.62%). Backed by parent company Bank of America, Merrill Edge delivers $0 stock and ETF trades with fantastic research and customer service. Better yet, for current banking customers, Merrill Edge's Preferred Rewards program offers the best rewards benefits across the industry.

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Overall Rating

Feature Merrill Edge Robinhood
Overall 4.5 3
Merrill Edge Review Robinhood Review

Trading Fees

Feature Merrill Edge Robinhood
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.65 $0.00
Mutual Fund Trade Fee $19.95 N/A
Broker Assisted Trades Fee $29.95 $0.00
Commissions & Fees 4.5 4.5
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Margin Rates

Feature Merrill Edge Robinhood
Under $24,999.99 10.13% 5.00%
$25,000.00 to $49,999.99 9.00% 5.00%
$50,000.00 to $99,999.99 9.00% 5.00%
$100,000.00 to $249,999.99 7.63% 5.00%
$250,000.00 to $499,999.99 7.63% 5.00%
$500,000.00 to $999,999.99 7.38% 5.00%
Above $1,000,000.00 6.75% 5.00%
Commissions & Fees 4.5 4.5
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Account Fees

Feature Merrill Edge Robinhood
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $49.95 $0.00
Returned ACH Fee $30.00 $9.00
Returned Wire Fee N/A $9.00
Stock Certificate Processing Fee $500.00 N/A
Stock Certificate Delivery Fee N/A N/A
Paper Statement Fee $5.00 $5.00
Paper Confirmation Fee $3.00 $2.00
Domestic Wire Fee $24.95 $25.00
International Wire Fee $24.95 $50.00
Commissions & Fees 4.5 4.5

Investment Options

Feature Merrill Edge Robinhood
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
Yes No
Options Trading
Yes Yes
Complex Options Max Legs
2 4
Futures Trading
No No
Forex Trading
No No
Commission-Free ETFs all all
Mutual Funds (No Load)
2471 0
Mutual Funds (Total)
3709 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Interest Sharing
No No
Advisor Services
Yes No
International Trading
No No
Offering of Investments 3.5 2
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Order Types

Feature Merrill Edge Robinhood
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
No No
Order Type - MultiContingent
No No
Order Type - OCO
No No
Order Type - OTO
No No
Order Type - OTOCO
No No
Offering of Investments 3.5 2
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Trading Platforms

Feature Merrill Edge Robinhood
Desktop Platform (Windows)
Yes No
Desktop Platform (Mac)
Yes No
Web Platform
Yes Yes
Paper Trading
No No
Trade Journal
No No
Watch Lists - Total Fields
285 7
Heat Mapping
Yes No
AI Assistant Bot
No No
Platforms & Tools 4 2
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Charting Features

Feature Merrill Edge Robinhood
Charting - Trade Off Chart
Yes No
Charting - Indicators / Studies
100 5
Charting - Drawing Tools
22 0
Charting - Historical Trades
Yes No
Charting - Corporate Events
Yes No
Charting - Automated Analysis
Yes No
Charting - Save Profiles
Yes No
Charting - Study Customizations
8 2
Charting - Custom Studies
No No
Platforms & Tools 4 2
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Day Trading

Feature Merrill Edge Robinhood
Stock Alerts - Basic Fields
Yes No
Stock Alerts - Advanced Fields
Yes No
Streaming Time & Sales
Yes No
Streaming TV
No No
Direct Market Routing - Stocks
No No
Direct Market Routing - Options
No No
Ladder Trading
No No
Trade Hot Keys
Yes No
Level 2 Quotes - Stocks
Yes No
Level 2 Quotes - Options
Yes No
Trade Ideas - Backtesting
Yes No
Short Locator
No No
Order Liquidity Rebates
No No
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Mobile Trading Apps

Feature Merrill Edge Robinhood
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes Yes
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes Yes
Trading - Conditional Orders
No No
Trading - Mutual Funds
Yes No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
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Mobile App Features

Feature Merrill Edge Robinhood
Watch List Syncing
Yes Yes
Stock Alerts
Yes Yes
Charting - After Hours
Yes Yes
Charting - Drawing
Yes No
Charting - Study Customizations
Yes No
Heatmapping
Yes No
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 4 4
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Research Overview

Feature Merrill Edge Robinhood
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes No
Research - Fixed Income
Yes No
Screener - Stocks
Yes No
Screener - ETFs
Yes No
Screener - Mutual Funds
Yes No
Screener - Options
Yes No
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
Yes Yes
Research 4.5 2
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Stock Research

Feature Merrill Edge Robinhood
Stock Research - Reports
3 0
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
Yes No
Stock Research - Metric Comp
Yes No
Stock Research - SEC Filings
Yes No
Stock Research - Social
No No
Stock Research - Balance Sheet
Yes No
Stock Research - Cash Flows
Yes No
Stock Research - News
Yes Yes
Stock Research - ESG
Yes No
Research 4.5 2
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ETF Research

Feature Merrill Edge Robinhood
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes Yes
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
Yes No
ETFs - Reports
Yes No
Research 4.5 2
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Mutual Fund Research

Feature Merrill Edge Robinhood
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
Yes No
Mutual Funds - Asset Allocation
Yes No
Mutual Funds - Sector Allocation
Yes No
Mutual Funds - Country Allocation
Yes No
Mutual Funds - StyleMap
Yes No
Mutual Funds - 3rd Party Ratings
Yes No
Research 4.5 2
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Options Trading

Feature Merrill Edge Robinhood
Option Chains - Streaming
Yes No
Option Chains - Total Columns
69 6
Option Chains - Greeks
5 5
Option Chains - Quick Analysis
Yes No
Option Analysis - P&L Charts
Yes No
Option Probability Analysis
Yes No
Option Probability Analysis Adv
No No
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes No
Option Positions - Rolling
Yes No
Option Positions - Grouping
Yes No
Platforms & Tools 4 2
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Beginners

Feature Merrill Edge Robinhood
Education (Stocks)
Yes Yes
Education (ETFs)
Yes No
Education (Options)
Yes Yes
Education (Mutual Funds)
Yes No
Education (Fixed Income)
Yes No
Education (Retirement)
Yes No
Paper Trading
No No
Videos
Yes No
Webinars (Monthly Avg)
0 0
Webinars (Archived)
No No
Live Seminars
Yes No
Progress Tracking
Yes No
Interactive Learning - Quizzes
Yes No
Investor Magazine
Yes No
Education 4.5 3
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Banking

Feature Merrill Edge Robinhood
Retail Locations
4300 0
Member FDIC
Yes No
Checking Accounts
Yes No
Savings Accounts
Yes No
Credit Cards
Yes No
Debit Cards
Yes No
Mortgage Loans
Yes No
No Fee Banking
No No
Banking 5 0.5
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Overall

Feature Merrill Edge Robinhood
Merrill Edge Review Robinhood Review
Overall 4.5 3
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Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare Merrill Edge vs Robinhood.

To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Merrill Edge and Robinhood have equal fees for trading stocks (equities), $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Each option contract then costs $0.65 at Merrill Edge and $0 at Robinhood. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.

Next to commission rates, being able to trade what you want is important. Robinhood supports Stock Trading and Options Trading while Merrill Edge supports Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Merrill Edge boasts an offering of 3709 mutual funds compared to Robinhood's 0 available funds.

Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Neither broker offers virtual trading. Taking a look at mobile trading, Merrill Edge along with Robinhood both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to clients of Merrill Edge while Robinhood offers customers none of these.

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

Merrill Edge Review
Robinhood Review



All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. 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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