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.
Bottom line: choose Merrill Edge if you want mutual funds, and choose Robinhood if you want crypto, futures, or fractional shares. Both offer stock trading, options, margin, OTC stocks, IRAs, and advisor services, and neither supports forex. Each earns 4 stars for Range of Investments from StockBrokers.com, with Merrill Edge ranked #7 of 14 brokers and Robinhood ranked #10.
On tradable products, both brokers support stocks, options, margin, and OTC stocks. Key differences: Merrill Edge offers mutual funds while Robinhood does not; Robinhood offers fractional shares while Merrill Edge does not. For advanced markets, Robinhood offers futures and crypto with 22 coins, while Merrill Edge offers neither. Neither platform supports forex.
For account types and guidance, both Merrill Edge and Robinhood provide Traditional and Roth IRAs as well as advisor services. So your pick mostly hinges on what you plan to trade: mutual funds with Merrill Edge, or fractional shares, futures, and crypto with 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 & Brokers for 2026, Best Futures Trading Platforms for 2026
In the Merrill Edge vs. Robinhood matchup for trading platforms and tools, Merrill Edge holds a slight edge. It earns 3.5 out of 5 stars and ranks #7 out of 14 brokers on StockBrokers.com, while Robinhood earns 3 stars and ranks #8. Both rely on browser-based trading with no Windows or Mac desktop apps, and neither offers paper trading or a built-in trading journal.
Day-to-day use is similar in some areas: both platforms run in your browser, let you adjust open orders directly on charts, support custom date ranges, and allow you to save multiple chart profiles. Neither broker lets you build custom studies. However, watchlists are more detailed on Merrill Edge, which supports up to 285 data fields versus 34 on Robinhood.
Charting is where the differences grow. Merrill Edge provides 105 technical indicators and 23 drawing tools, while Robinhood offers 90 indicators and 26 drawing tools. Both let you add notes to charts, but Merrill Edge goes further by showing your historical trades, displaying corporate events (earnings, splits, dividends), and running automated chart pattern recognition—features Robinhood lacks. Even when editing a simple moving average, Merrill Edge gives more settings (8 fields) than Robinhood (6).
| Feature |
Merrill Edge
|
Robinhood
|
|---|---|---|
| Web Trading Platform | Yes | Yes |
| Desktop Trading Platform | No | No |
| Desktop Platform (Mac) | No | No |
| Paper Trading | No | No |
| Watchlists - Total Fields | 285 | 34 |
| Charting - Indicators / Studies | 105 | 90 |
| Charting - Drawing Tools | 23 | 26 |
| Advanced Trading |
|
|
Dive deeper: Best Brokerage Accounts and Online Stock Brokers for 2026, Best Paper Trading Apps and Simulators for 2026
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Merrill Edge vs. Robinhood: Both online brokers offer beginner-friendly education on stocks, ETFs, options, and bonds. Merrill Edge is the only one with mutual fund education. Neither platform includes paper trading or tools to track your learning progress. You’ll find videos on both, but Merrill Edge adds webinars and interactive quizzes, which Robinhood does not provide.
For investor education, Merrill Edge earns 4 stars and ranks #6 of 14 on StockBrokers.com, while Robinhood scores 3.5 stars and ranks #7. If you want more ways to learn—especially webinars, quizzes, and mutual fund lessons—Merrill Edge has the edge. If you prefer simple, on-the-go lessons inside a streamlined app, Robinhood can still be a solid choice for beginners.
| 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 |
| Videos | Yes | Yes |
| Webinars | Yes | No |
| Education |
|
|
Dive deeper: Best Trading Platforms and Brokerage Accounts for Beginners in 2026
Merrill Edge and Robinhood both offer solid stock trading apps for everyday investors, and each has an iPhone app, an Android app, mobile options trading, streaming quotes, stock alerts, custom watch lists, after-hours charting, and multiple time-frame chart views. Both apps are also rated 4 out of 5 stars for stock trading apps. In StockBrokers.com’s rankings, Robinhood lands slightly higher at #7 out of 14 brokers, while Merrill Edge comes in at #9, so Robinhood gets the edge overall for app experience.
Where the two begin to separate is in a few mobile features. Robinhood offers an Apple Watch app, while Merrill Edge does not. Robinhood also lets users customize watch list columns, which Merrill Edge lacks. On the charting side, Merrill Edge stands out by allowing landscape chart viewing and stock comparison overlays on charts, both of which Robinhood does not offer.
When it comes to chart detail, Robinhood provides more technical studies in its mobile app, with 90 compared with Merrill Edge’s 34. Merrill Edge does offer mobile after-hours stock trading, though the Robinhood feature listing is unclear in the source provided. Neither app includes streaming live TV or videos on demand, so if you want a simple trading app with the basics covered, both are good choices, but Robinhood has a slight advantage for mobile convenience and charting depth.
| Feature |
Merrill Edge
|
Robinhood
|
|---|---|---|
| iPhone App | Yes | Yes |
| Android App | Yes | Yes |
| Apple Watch App | No | Yes |
| Stock Alerts | Yes | Yes |
| Charting - After-Hours | Yes | Yes |
| Charting - Technical Studies | 34 | 90 |
| Mobile Trading Apps |
|
|
Dive deeper: Best Stock Trading Apps of 2026
Merrill Edge and Robinhood both make it easy to start investing with no minimum deposit and no commission on regular stock trades. Both also charge $0 in IRA annual fees and $0 for options exercise and assignment fees. The biggest differences show up in a few areas: Merrill Edge charges $0.65 per options contract, while Robinhood charges $0; Robinhood charges margin interest rates of 5.25% on balances below $50,000 and 5.05% on balances from $50,000 to $99,999, while Merrill Edge’s margin pricing varies; and Robinhood charges $100 for both partial and full ACAT transfers, compared with $0 at Merrill Edge. Overall, Merrill Edge can be the lower-cost choice for transfer fees and some account-related charges, while Robinhood stands out for free options contracts and no IRA closure fee.
Looking more closely at trading costs, there is little difference between the two for basic investing because both offer $0 stock trades and no minimum deposit. If you plan to trade options, Robinhood may be cheaper because it does not charge per contract, while Merrill Edge does. For margin users, Robinhood’s stated interest rates make it easier to compare costs up front, while Merrill Edge lists margin rates as varying by account details.
For retirement and account movement fees, Merrill Edge is usually more forgiving on transfers, since it charges nothing for partial or full ACAT transfers, while Robinhood charges $100 for each. On the other hand, Robinhood does not charge an IRA closure fee, while Merrill Edge charges $49.95. In short, the better fit depends on which fees matter most to you: options traders may prefer Robinhood, while investors who may transfer accounts could find Merrill Edge more affordable.
| 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 Stock Trading Platforms and Commission-Free Apps for 2026
Merrill Edge vs. Robinhood for day trading comes down to the tools you need. Both offer Level 2 quotes, but Merrill Edge adds streaming time and sales and basic strategy backtesting, which can help traders study tape action and test simple ideas before placing real orders. Neither platform includes streaming live TV or direct market routing.
For fast order entry, Robinhood stands out with ladder trading and keyboard hotkeys, while Merrill Edge does not offer either. Advanced backtesting isn’t available on both, and neither provides a short locator tool or maker/taker rebates. In short, data-focused traders may lean toward Merrill Edge for time and sales plus basic backtesting, while traders who prioritize quick clicks and speedy entries may prefer Robinhood’s ladder and hotkeys.
| 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 and Apps for 2026
For market research, Merrill Edge comes out ahead of Robinhood overall. Both brokers give you access to basic stock and ETF research, plus portfolio allocation by asset class and stock screeners for trade ideas. But Merrill Edge adds more depth with mutual fund and bond research, downloadable PDF reports for stocks, ETFs, and mutual funds, and extra screeners for ETFs, mutual funds, and bonds. That fuller set of tools helps make Merrill Edge a better fit for investors who want more help digging into choices before they buy.
Merrill Edge offers stock, ETF, mutual fund, pink sheet/OTCBB, and bond research, while Robinhood covers stock, ETF, and pink sheet/OTCBB research but does not offer mutual fund or bond research. Neither broker provides stock research using social media sentiment data or ESG research. When it comes to downloadable reports, Merrill Edge stands out with three stock PDF research reports, plus PDF reports for ETFs and mutual funds, while Robinhood does not offer downloadable PDF research reports in these categories.
For investors who want a simple research experience, Robinhood covers the basics well, but Merrill Edge provides more ways to compare investments and find ideas. That edge is reflected in its 4.5-star market research rating and #4 ranking out of 14 brokers from StockBrokers.com, compared with Robinhood’s 2.5-star rating and #10 ranking.
| 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 Accounts with Checking: Top Bank Brokers
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 81.9%, while Robinhood finished with a score of 69.6%.
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 2026
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.
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↓×Compare
0 of 5| Overall Rating | Merrill Edge | Robinhood | |
|---|---|---|---|
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| Mobile Trading Apps |
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| Research |
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| Customer Service |
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| Education |
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| Ease of Use |
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| Winner | check_circle | ||
| Review | Merrill Edge Review | Robinhood Review |
| Broker Screenshots | Merrill Edge | Robinhood | |
|---|---|---|---|
| Broker Gallery (click to expand) |
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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 | $0.000 | |
| 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 | 5.25% | |
| Margin Rate $25,000 to $49,999.99 | Varies | 5.25% | |
| Margin Rate $50,000 to $99,999.99 | Varies | 5.05% | |
| Margin Rate $100,000 to $249,999.99 | Varies | 4.75% | |
| Margin Rate $250,000 to $499,999.99 | Varies | 4.75% | |
| Margin Rate $500,000 to $999,999.99 | Varies | 4.75% | |
| Margin Rate Above $1,000,000 | Varies | 4.50% |
| 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 | Yes | 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 | |
|---|---|---|---|
| Mobile Research - Market Movers | Yes | Yes | |
| Stream Live TV | No | No | |
| Videos on Demand | No | 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 | No | Yes |
| Stock App Charting | Merrill Edge | Robinhood | |
|---|---|---|---|
| Charting - After-Hours | Yes | 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 | |
| Watchlists - 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 | 26 | |
| 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 | Yes | |
| 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 | No | 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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| Ease of Use |
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| Winner | check_circle | ||
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