Written by StockBrokers.com
In this head to head comparison of Merrill Edge vs Robinhood, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
Merrill Edge vs Robinhood: If you want the widest traditional investment menu and higher third-party marks for range, Merrill Edge is the stronger pick (4.5/5 stars, ranked #7 of 14 by StockBrokers.com). If you value fractional shares, crypto, and futures access, Robinhood stands out (3.5/5 stars, ranked #12 of 14). Both support popular essentials like stocks, options, margin, and OTC trading, but they differ in funds and digital assets.
Both brokers offer stock trading, options trading, margin trading, and OTC stocks. Only Robinhood supports fractional shares, futures, and crypto, with 22 coins available, while Merrill Edge offers none in those areas. Neither platform supports forex. Merrill Edge is the choice if mutual funds matter; Robinhood does not offer mutual funds.
For account types and guidance, both Merrill Edge and Robinhood provide Traditional and Roth IRAs, along with access to advisor services. That means you can build retirement savings on either platform, while choosing the broker that best fits your preferred investments—mutual funds and a broader traditional lineup at Merrill Edge, or fractional shares, futures, and crypto at Robinhood.
| Feature |
Merrill Edge
|
Robinhood
|
|---|---|---|
| Stock Trading | Yes | Yes |
| Account Feature - Margin Trading | Yes | Yes |
| Fractional Shares (Stocks) | No | Yes |
| OTC Stocks | Yes | Yes |
| Mutual Funds | Yes | No |
| Options Trading | Yes | Yes |
| Futures Trading | No | Yes |
| Crypto Trading | No | Yes |
| Crypto Trading - Total Coins | 0 | 22 |
| Range of Investments |
|
|
Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025: A Beginner-Friendly Guide to an Advanced Market
Bottom line: In the Merrill Edge vs Robinhood matchup for trading platforms and tools, Merrill Edge takes the lead for research-minded investors. It earns 4 stars and ranks #6 of 14 on StockBrokers.com, compared with Robinhood’s 3.5 stars and #9 ranking. Merrill Edge stands out for deeper data and advanced chart features, while Robinhood is more streamlined and leans on an unusually large set of drawing tools. Both are web-based only and lack paper trading and a built-in trading journal.
Platform access is similar: neither broker offers a downloadable desktop platform for Windows or Mac, but both provide a browser-based platform. Each lets you adjust open orders directly on a chart, save multiple chart profiles, set custom date ranges, and add notes to charts. Neither supports creating custom studies, and both lack paper trading and a trading journal.
Charting and tools show clearer differences. Merrill Edge offers 105 technical indicators versus Robinhood’s 90, and displays historical trades and corporate events on charts; Robinhood does not. Merrill Edge also supports automated technical analysis (chart patterns), while Robinhood doesn’t. For customization, editing an SMA study presents 8 fields at Merrill Edge versus 6 at Robinhood. Watchlists are far more detailed at Merrill Edge with 285 available columns, compared with 34 for Robinhood. By contrast, Robinhood lists 2,326 drawing tools versus Merrill Edge’s 23. Overall, Merrill Edge suits traders who want more data and built-in chart insights, while Robinhood caters to those who prioritize extensive drawing tools within a simpler web interface.
| Feature |
Merrill Edge
|
Robinhood
|
|---|---|---|
| Web Trading Platform | Yes | Yes |
| Desktop Trading Platform | No | No |
| Desktop Platform (Mac) | No | No |
| Paper Trading | No | No |
| Watch Lists - Total Fields | 285 | 34 |
| Charting - Indicators / Studies | 105 | 90 |
| Charting - Drawing Tools | 23 | 2326 |
| Platforms & Tools |
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|
Dive deeper: Best Online Brokers & Trading Platforms for 2025, Best Paper Trading Apps & Platforms for 2025
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Merrill Edge and Robinhood both provide beginner-friendly education on stocks, ETFs, options, and bonds, plus video lessons. Merrill Edge goes further with mutual funds education and interactive quizzes, which Robinhood does not offer. Neither platform includes paper trading (practice trading), live webinars, or tools to track your learning progress.
For overall quality, Merrill Edge earns 4.5 out of 5 stars and ranks #5 of 14 for education, while Robinhood scores 4 out of 5 stars and ranks #8 of 14, according to StockBrokers.com. If you want mutual fund lessons and quizzes to test your knowledge, Merrill Edge is the better fit. If you’re looking for straightforward videos on core topics like stocks, ETFs, options, and bonds, Robinhood can meet the need.
| Feature |
Merrill Edge
|
Robinhood
|
|---|---|---|
| Education (Stocks) | Yes | Yes |
| Education (ETFs) | Yes | Yes |
| Education (Options) | Yes | Yes |
| Education (Mutual Funds) | Yes | No |
| Education (Fixed Income) | Yes | Yes |
| Paper Trading | No | No |
| Videos | Yes | Yes |
| Webinars | No | No |
| Education |
|
|
Dive deeper: Best Stock Trading Platforms for Beginners of 2025
Merrill Edge vs Robinhood: both deliver 4.5-star stock trading apps for iPhone and Android, but Merrill Edge holds a slight edge in the rankings (#6 vs. Robinhood’s #7 from StockBrokers.com). In simple terms, choose Merrill Edge if you want more built-in chart tools, landscape charting, and the ability to compare stocks on the same chart. Choose Robinhood if Apple Watch support, after-hours charting, more technical studies, and customizable watch list columns matter most.
Both brokers offer iPhone and Android apps, streaming quotes, mobile options trading, stock alerts, and the ability to create custom watch lists. Neither app includes streaming live TV or videos on demand. Unique perks: Merrill Edge supports mobile after-hours stock trading, while Robinhood is the only one of the two with an Apple Watch app and customizable watch list columns.
Charting is where the differences stand out. Merrill Edge supports landscape charts, multiple time frames, about 34 technical studies, and stock-to-stock comparisons on charts, but it lacks after-hours charting. Robinhood provides multiple time frames, after-hours charting, and a larger library of roughly 90 technical studies, but it does not offer landscape charting or stock comparison overlays.
| Feature |
Merrill Edge
|
Robinhood
|
|---|---|---|
| iPhone App | Yes | Yes |
| Android App | Yes | Yes |
| Apple Watch App | No | Yes |
| Stock Alerts | Yes | Yes |
| Charting - After-Hours | No | Yes |
| Charting - Technical Studies | 34 | 90 |
| Mobile Trading Apps |
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|
Dive deeper: Best Stock Trading Apps for 2025
When comparing Merrill Edge and Robinhood for their account fees and charges, both platforms provide excellent options for commission-free stock trading. Both have no minimum deposit, making them accessible to new investors. However, there are notable differences regarding options trading and other service fees. While Merrill Edge charges $0.65 per options contract, Robinhood provides options trading without any contract fee. This cost difference may appeal to frequent options traders who prioritize minimizing fees.
In terms of margin rates, Robinhood offers a clear schedule, with a set rate of 5.75% for balances below $50,000 and a slightly reduced rate of 5.55% for higher balances. Merrill Edge's margin rates vary, potentially offering more competitive rates depending on the account tier. Both platforms offer IRA accounts with no annual fees, but Merrill Edge imposes a $49.95 fee for IRA closures, whereas Robinhood charges nothing.
Another factor to consider is the cost of account transfers. Merrill Edge charges nothing for both partial and full Account Transfers (ACAT), while Robinhood has a $100 fee for each. Additionally, neither platform charges fees for options exercise or assignment. For investors seeking a fee-free options trading platform, Robinhood could be the better choice. However, for those considering flexibility with account transfers and potentially variable margin rates, Merrill Edge may be more appealing.
| Feature |
Merrill Edge
|
Robinhood
|
|---|---|---|
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trades | $0.00 | $0.00 |
| Options (Per Contract) | $0.65 | $0.00 |
| Options Exercise Fee | $0.00 | $0.00 |
| Options Assignment Fee | $0.00 | $0.00 |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $49.95 | $0.00 |
Dive deeper: Best Free Trading Platforms for 2025
Merrill Edge vs Robinhood for day trading: both platforms offer level 2 quotes, but their tools differ in ways active traders will notice. Merrill Edge includes streaming time and sales, which helps you see prints as they happen, while Robinhood does not. Robinhood offers ladder trading for quick order placement; Merrill Edge does not. Neither platform provides streaming live TV, direct market routing, or keyboard hotkeys for trading.
On strategy tools, Merrill Edge supports basic backtesting so you can try out simple ideas, while Robinhood lacks this. Neither offers advanced backtesting, a short locator to check borrow availability, or order liquidity (maker/taker) rebates. In short, choose Merrill Edge if you want streaming time and sales and basic backtesting, or pick Robinhood if ladder trading is your priority; just note both miss some features seasoned day traders often seek.
| Feature |
Merrill Edge
|
Robinhood
|
|---|---|---|
| Streaming Time & Sales | Yes | No |
| Streaming TV | No | No |
| Direct Market Routing - Equities | No | No |
| Level 2 Quotes - Stocks | Yes | Yes |
| Trade Ideas - Backtesting | Yes | No |
| Trade Ideas - Backtesting Adv | No | No |
| Short Locator | No | No |
Dive deeper: Best Day Trading Platforms of 2025 for Beginners and Active Traders
Merrill Edge clearly outpaces Robinhood for market research. It earns 5 stars and ranks #5 of 14 brokers at StockBrokers.com, while Robinhood scores 2 stars and ranks #10. If you want deeper coverage, downloadable reports, and tools across more asset types, Merrill Edge is the better pick. Robinhood covers the basics for stocks and ETFs but skips key areas like mutual funds and bonds.
Both brokers offer research on stocks and ETFs, plus access to Pink Sheets/OTC and a view of your portfolio allocation by asset class. Neither uses social media sentiment. Merrill Edge adds ESG research, which Robinhood lacks. For reports, Merrill Edge supplies three downloadable PDF reports for stocks and also provides PDFs for ETFs and mutual funds; Robinhood offers none.
For idea generation, both include a stock screener. Merrill Edge goes further with ETF, mutual fund, and bond screeners—options Robinhood does not provide. If you want more ways to discover opportunities across asset classes, Merrill Edge has the broader toolkit.
| Feature |
Merrill Edge
|
Robinhood
|
|---|---|---|
| Research - Stocks | Yes | Yes |
| Screener - Stocks | Yes | Yes |
| Research - ETFs | Yes | Yes |
| Screener - ETFs | Yes | No |
| Research - Mutual Funds | Yes | No |
| Screener - Mutual Funds | Yes | No |
| Research - Fixed Income | Yes | No |
| Screener - Fixed Income | Yes | No |
| Research |
|
|
When comparing the banking capabilities of Merrill Edge and Robinhood, several differences stand out. Merrill Edge offers a comprehensive range of banking services that include checking and savings accounts, providing users with a more traditional banking experience. They also offer debit cards, credit cards, mortgage loans, and CDs, providing options for various financial needs. On the other hand, Robinhood, while offering debit and credit cards to its users, does not provide checking accounts, savings accounts, mortgage loans, or CDs, which may limit the banking features available to its customers. This makes Merrill Edge a more suitable option for individuals seeking comprehensive banking solutions alongside investment services.
| Feature |
Merrill Edge
|
Robinhood
|
|---|---|---|
| Checking Accounts | Yes | No |
| Savings Accounts | Yes | No |
| Debit Cards | Yes | Yes |
| Credit Cards | Yes | Yes |
| Mortgage Loans | Yes | No |
| Brokerage CDs | Yes | No |
Dive deeper: Best Brokerage Checking Accounts for 2025
After opening live accounts and testing 14 of the best online brokers, our research and live account testing finds that Merrill Edge is better than Robinhood. Merrill Edge finished with an overall score of 92.7%, while Robinhood finished with a score of 77.3%.
Merrill Edge and its parent, Bank of America, make for a well-rounded offering, with $0 trades, robust research, reliable customer service; and its Stock Stories and Fund Stories are an industry standout. There are some gaps in investment offerings, including crypto and futures.
While Merrill Edge does not offer crypto trading options, Robinhood provides access to 22 different cryptocurrencies, making it a more versatile platform for users interested in digital asset trading.
Dive deeper: Best Online Brokers for Crypto Trading in 2025
Both Merrill Edge and Robinhood offer traditional and Roth IRA accounts with no annual fees, but while Merrill Edge charges a $49.95 closure fee for closing IRA accounts, Robinhood does not impose any closure fees, providing a cost-effective option for users considering account termination.
Dive deeper: Best IRA Accounts for 2025
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| Review | Merrill Edge Review | Robinhood Review |
| Broker Screenshots | Merrill Edge | Robinhood | |
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| Trading Fees | Merrill Edge | Robinhood | |
|---|---|---|---|
| Minimum Deposit | $0.00 | $0.00 | |
| Stock Trades | $0.00 | $0.00 | |
| Penny Stock Fees (OTC) | N/A | N/A | |
| Mutual Fund Trade Fee | Varies | N/A | |
| Options (Per Contract) | $0.65 | $0.00 | |
| Futures (Per Contract) | (Not offered) | $0.75 | |
| Broker Assisted Trade Fee | $29.95 | N/A |
| Margin Rates | Merrill Edge | Robinhood | |
|---|---|---|---|
| Margin Rate Under $25,000 | Varies | 5.75% | |
| Margin Rate $25,000 to $49,999.99 | Varies | 5.75% | |
| Margin Rate $50,000 to $99,999.99 | Varies | 5.55% | |
| Margin Rate $100,000 to $249,999.99 | Varies | 5.25% | |
| Margin Rate $250,000 to $499,999.99 | Varies | 5.25% | |
| Margin Rate $500,000 to $999,999.99 | Varies | 5.25% | |
| Margin Rate Above $1,000,000 | Varies | 5% |
| Account Fees | Merrill Edge | Robinhood | |
|---|---|---|---|
| IRA Annual Fee | $0.00 | $0.00 | |
| IRA Closure Fee | $49.95 | $0.00 | |
| Account Transfer Out (Partial) | $0.00 | $100.00 | |
| Account Transfer Out (Full) | $0.00 | $100.00 | |
| Options Exercise Fee | $0.00 | $0.00 | |
| Options Assignment Fee | $0.00 | $0.00 |
| Investment Options | Merrill Edge | Robinhood | |
|---|---|---|---|
| Stock Trading | Yes | Yes | |
| Account Feature - Margin Trading | Yes | Yes | |
| Fractional Shares (Stocks) | No | Yes | |
| OTC Stocks | Yes | Yes | |
| Options Trading | Yes | Yes | |
| Complex Options Max Legs | 4 | 4 | |
| Futures Trading | No | Yes | |
| Forex Trading | No | No | |
| Crypto Trading | No | Yes | |
| Crypto Trading - Total Coins | 0 | 22 | |
| Fixed Income (Treasurys) | Yes | No | |
| Fixed Income (Corporate Bonds) | Yes | No | |
| Fixed Income (Municipal Bonds) | Yes | No | |
| Traditional IRAs | Yes | Yes | |
| Roth IRAs | Yes | Yes | |
| Advisor Services | Yes | Yes | |
| International Countries (Stocks) | 0 | 1 |
| Order Types | Merrill Edge | Robinhood | |
|---|---|---|---|
| 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 | No | No | |
| Order Type - OTO | No | No | |
| Order Type - Broker Assisted | Yes | No |
| Beginners | Merrill Edge | Robinhood | |
|---|---|---|---|
| Education (Stocks) | Yes | Yes | |
| Education (ETFs) | Yes | Yes | |
| Education (Options) | Yes | Yes | |
| Education (Mutual Funds) | Yes | No | |
| Education (Fixed Income) | Yes | Yes | |
| Education (Retirement) | Yes | Yes | |
| Retirement Calculator | Yes | No | |
| Investor Dictionary | Yes | Yes | |
| Paper Trading | No | No | |
| Videos | Yes | Yes | |
| Webinars | No | No | |
| Progress Tracking | No | No | |
| Interactive Learning - Quizzes | Yes | No |
| Stock Trading Apps | Merrill Edge | Robinhood | |
|---|---|---|---|
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Apple Watch App | No | 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 | No | Yes |
| Stock App Features | Merrill Edge | Robinhood | |
|---|---|---|---|
| Market Movers (Top Gainers) | Yes | Yes | |
| Stream Live TV | No | No | |
| Videos on Demand | No | 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 | No | Yes |
| Stock App Charting | Merrill Edge | Robinhood | |
|---|---|---|---|
| Charting - After-Hours | No | Yes | |
| Charting - Can Turn Horizontally | Yes | No | |
| Charting - Multiple Time Frames | Yes | Yes | |
| Charting - Technical Studies | 34 | 90 | |
| Charting - Study Customizations | Yes | Yes | |
| Charting - Stock Comparisons | Yes | No |
| Trading Platforms | Merrill Edge | Robinhood | |
|---|---|---|---|
| Active Trading Platform | Merrill Edge Market Pro | Robinhood Legend | |
| Desktop Trading Platform | No | No | |
| Desktop Platform (Mac) | No | No | |
| Web Trading Platform | Yes | Yes | |
| Paper Trading | No | No | |
| Trade Journal | No | No | |
| Watch Lists - Total Fields | 285 | 34 |
| Stock Chart Features | Merrill Edge | Robinhood | |
|---|---|---|---|
| Charting - Adjust Trades on Chart | Yes | Yes | |
| Charting - Indicators / Studies | 105 | 90 | |
| Charting - Drawing Tools | 23 | 2326 | |
| Charting - Notes | Yes | Yes | |
| Charting - Historical Trades | Yes | No | |
| Charting - Corporate Events | Yes | No | |
| Charting - Custom Date Range | Yes | Yes | |
| Charting - Custom Time Bars | Yes | Yes | |
| Charting - Automated Analysis | Yes | No | |
| Charting - Save Profiles | Yes | Yes | |
| Trade Ideas - Technical Analysis | Yes | No | |
| Charting - Study Customizations | 8 | 6 | |
| Charting - Custom Studies | No | No |
| Day Trading | Merrill Edge | Robinhood | |
|---|---|---|---|
| Streaming Time & Sales | Yes | No | |
| Streaming TV | No | No | |
| Direct Market Routing - Equities | No | No | |
| Ladder Trading | No | Yes | |
| Trade Hot Keys | No | No | |
| Level 2 Quotes - Stocks | Yes | Yes | |
| Trade Ideas - Backtesting | Yes | No | |
| Trade Ideas - Backtesting Adv | No | No | |
| Short Locator | No | No | |
| Order Liquidity Rebates | No | No |
| Research Overview | Merrill Edge | Robinhood | |
|---|---|---|---|
| Research - Stocks | Yes | Yes | |
| Research - ETFs | Yes | Yes | |
| Research - Mutual Funds | Yes | No | |
| Research - Pink Sheets / OTCBB | Yes | Yes | |
| Research - Fixed Income | Yes | No | |
| Screener - Stocks | Yes | Yes | |
| Screener - ETFs | Yes | No | |
| Screener - Mutual Funds | Yes | No | |
| Screener - Fixed Income | Yes | No | |
| Portfolio Asset Allocation | Yes | Yes |
| Stock Research | Merrill Edge | Robinhood | |
|---|---|---|---|
| Stock Research - PDF Reports | 3 | 0 | |
| Stock Research - Earnings | Yes | Yes | |
| Stock Research - Insiders | Yes | Yes | |
| Stock Research - Social | No | No | |
| Stock Research - News | Yes | Yes | |
| Stock Research - ESG | Yes | No | |
| Stock Research - SEC Filings | Yes | No |
| ETF Research | Merrill Edge | Robinhood | |
|---|---|---|---|
| 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 | No | |
| ETFs - Ratings | Yes | No | |
| ETFs - Morningstar StyleMap | Yes | No | |
| ETFs - PDF Reports | Yes | No |
| Mutual Fund Research | Merrill Edge | Robinhood | |
|---|---|---|---|
| Mutual Funds - Investment Objective | Yes | No | |
| Mutual Funds - Performance Chart | Yes | No | |
| Mutual Funds - Performance Analysis | Yes | No | |
| Mutual Funds - Prospectus | Yes | No | |
| Mutual Funds - 3rd Party Ratings | 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 |
| Options Trading | Merrill Edge | Robinhood | |
|---|---|---|---|
| Option Chains - Total Greeks | 5 | 5 | |
| Option Analysis - P&L Charts | Yes | Yes |
| Banking | Merrill Edge | Robinhood | |
|---|---|---|---|
| Bank (Member FDIC) | Yes | No | |
| Checking Accounts | Yes | No | |
| Savings Accounts | Yes | No | |
| Credit Cards | Yes | Yes | |
| Debit Cards | Yes | Yes | |
| Mortgage Loans | Yes | No |
| Customer Service | Merrill Edge | Robinhood | |
|---|---|---|---|
| Phone Support (Prospective Customers) | Yes | No | |
| Phone Support (Current Customers) | Yes | Yes | |
| Email Support | No | Yes | |
| Live Chat (Prospective Customers) | Yes | No | |
| Live Chat (Current Customers) | Yes | Yes | |
| 24/7 Support | Yes | Yes |
| Overall | Merrill Edge | Robinhood | |
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| Winner | check_circle | ||
| Review | Merrill Edge Review | Robinhood Review |
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