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 Merrill Edge vs Robinhood. Is Merrill Edge or Robinhood a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Merrill Edge charges more than Robinhood for placing regular stock trades ($6.95 and $0, respectively). For options trading, Merrill Edge has a base fee of $6.95, and Robinhood a base fee of $0. Robinhood's per contract rate of $0 is less than Merrill Edge which charges $0.75. 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. Robinhood provides its clients with Stock Trading and Options Trading while Merrill Edge provides clients access to Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Robinhood trails Merrill Edge by 3,688 total mutual funds, with Merrill Edge offering 3688 and Robinhood offering 0. Commission free ETFs can also be a nice plus, which in this case means trading a possible 0 commission free ETFs at both brokers.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Merrill Edge nor Robinhood offers virtual trading. For mobile trading, Merrill Edge along with Robinhood 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 available to clients of Merrill Edge while Robinhood offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, both Merrill Edge and Robinhood found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Merrill Edge boasts 4.50 stars versus Robinhood's 2.50 stars.