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Merrill Edge vs Robinhood 2021

StockBrokers.com | October 26th, 2021

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Is Merrill Edge better than Robinhood? After testing 11 of the best online brokers over three months, Merrill Edge (91.72%) is better than Robinhood (62.62%). Merrill Edge offers $0 trades with industry-leading research tools (especially ESG research) and excellent customer service. Better yet, for current Bank of America customers, Merrill Edge's Preferred Rewards program provides the best rewards of any bank broker we tested in 2021.

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Overall Rating

Feature Merrill Edge Robinhood
Overall 4.5 3
Commissions & Fees 4.5 4.5
Offering of Investments 4 2.5
Platforms & Tools 4 2
Mobile Trading 4.5 4
Research 4.5 2
Education 4.5 3
Ease of Use 5 5
Merrill Edge Review Robinhood Review
Winner check_circle

Trading Fees

Feature Merrill Edge Robinhood
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Mutual Fund Trade Fee $19.95 N/A
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.00
Futures (Per Contract) N/A N/A
Broker Assisted Trade Fee $29.95 N/A

Margin Rates

Feature Merrill Edge Robinhood
Under $24,999.99 8.63% 2.50%
$25,000.00 to $49,999.99 7.50% 2.50%
$50,000.00 to $99,999.99 7.50% 2.50%
$100,000.00 to $249,999.99 N/A 2.50%
$250,000.00 to $499,999.99 N/A 2.50%
$500,000.00 to $999,999.99 N/A 2.50%
Above $1,000,000.00 N/A 2.50%

Account Fees

Feature Merrill Edge Robinhood
IRA Annual Fee $0.00 N/A
IRA Closure Fee $49.95 N/A
Account Transfer Out (Partial)
 $0.00 $75.00
Account Transfer Out (Full)
 $49.95 $75.00

Investment Options

Feature Merrill Edge Robinhood
Stock Trading
 Yes Yes
Fractional Shares
 No Yes
OTCBB / Pink Sheets
 Yes No
Options Trading
 Yes Yes
Complex Options Max Legs
 2 4
Futures Trading
 No No
Forex Trading
 No No
Crypto Trading
 No Yes
Crypto Trading - Total Coins
 0 7
Mutual Funds (No Load)
 2952 0
Mutual Funds (Total)
 3466 0
Bonds (US Treasury)
 Yes No
Bonds (Corporate)
 Yes No
Bonds (Municipal)
 Yes No
Advisor Services
 Yes No
International Trading
 No No

Order Types

Feature 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

Feature Merrill Edge Robinhood
Education (Stocks)
 Yes Yes
Education (ETFs)
 Yes No
Education (Options)
 Yes Yes
Education (Mutual Funds)
 Yes No
Education (Bonds)
 Yes No
Education (Retirement)
 Yes No
Retirement Calculator
 Yes No
Investor Dictionary
 Yes Yes
Paper Trading
 No No
Videos
 Yes No
Webinars (Monthly Avg)
 1 0
Webinars (Archived)
 Yes No
Progress Tracking
 No No
Interactive Learning - Quizzes
 Yes No

Stock 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 - Simple Options
 Yes Yes
Trading - Complex Options
 Yes Yes
Order Ticket RT Quotes
 Yes Yes
Order Ticket SRT Quotes
 No Yes

Stock App Features

Feature Merrill Edge Robinhood
Market Movers (Top Gainers)
 Yes Yes
Stream Live TV
 No No
Videos on Demand
No Yes
Stock Alerts
 Yes No
Option Chains Viewable
 Yes Yes
Watch List (Real-time)
 Yes Yes
Watch List (Streaming)
 Yes No
Watch Lists - Create & Manage
 Yes Yes
Watch Lists - Column Customization
 No Yes
Watch List - Column Filtering
 Yes Yes

Stock App Charting

Feature Merrill Edge Robinhood
Charting - After-Hours
 No Yes
Charting - Can Turn Horizontally
 Yes No
Charting - Multiple Time Frames
 Yes Yes
Charting - Technical Studies
 34 0
Charting - Study Customizations
Yes No
Charting - Stock Comparisons
 Yes No

Trading Platforms

Feature Merrill Edge Robinhood
Desktop Trading Platform
 Yes No
Web Trading Platform
 Yes Yes
Paper Trading
 No No
Trade Journal
 No No
Watch Lists - Total Fields
 285 7

Stock Chart Features

Feature Merrill Edge Robinhood
Charting - Adjust Trades on Chart
 Yes No
Charting - Indicators / Studies
 104 5
Charting - Drawing Tools
 22 0
Charting - Notes
 Yes No
Charting - Index Overlays
 Yes No
Charting - Historical Trades
 Yes No
Charting - Corporate Events
 Yes No
Charting - Custom Date Range
 Yes No
Charting - Custom Time Bars
 Yes No
Charting - Automated Analysis
 Yes No
Charting - Save Profiles
 Yes No
Trade Ideas - Technical Analysis
 Yes No
Charting - Study Customizations
 8 2
Charting - Custom Studies
 No No

Day Trading

Feature Merrill Edge Robinhood
Streaming Time & Sales
 Yes No
Streaming TV
 No No
Direct Market Routing - Stocks
 No No
Ladder Trading
 No No
Trade Hot Keys
 No No
Level 2 Quotes - Stocks
 Yes No
Trade Ideas - Backtesting
 Yes No
Trade Ideas - Backtesting Adv
 No No
Short Locator
 No No
Order Liquidity Rebates
 No No

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 - Bonds
 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

Stock Research

Feature Merrill Edge Robinhood
Stock Research - PDF Reports
 3 0
Stock Research - Earnings
 Yes Yes
Stock Research - Insiders
 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

ETF Research

Feature Merrill Edge Robinhood
ETFs - Strategy Overview
 Yes Yes
ETF Fund Facts - Inception Date
 Yes No
ETF Fund Facts - Expense Ratio
 Yes No
ETF Fund Facts - Net Assets
 Yes No
ETF Fund Facts - Total Holdings
 Yes No
ETFs - Top 10 Holdings
 Yes No
ETFs - Performance Analysis
 Yes Yes
ETFs - Sector Exposure
 Yes No
ETFs - Risk Analysis
 Yes No
ETFs - Ratings
 Yes No
ETFs - Morningstar StyleMap
 Yes No
ETFs - PDF Reports
 Yes No

Mutual Fund Research

Feature Merrill Edge Robinhood
Mutual Funds - Strategy Overview
 Yes No
Mutual Funds - Performance Chart
 Yes No
Mutual Funds - Performance Analysis
 Yes No
Mutual Funds - Prospectus
 Yes No
Mutual Funds - PDF 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

Options Trading

Feature Merrill Edge Robinhood
Option Chains - Basic View
 Yes Yes
Option Chains - Strategy View
 Yes No
Option Chains - Streaming
 Yes Yes
Option Chains - Total Columns
 68 17
Option Chains - Greeks
5 5
Option Positions - Greeks Streaming
 Yes Yes
Option Chains - Quick Analysis
 Yes Yes
Option Analysis - P&L Charts
 Yes Yes
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

Banking

Feature Merrill Edge Robinhood
Bank (Member FDIC)
 Yes No
Checking Accounts
 Yes No
Savings Accounts
 Yes No
Credit Cards
 Yes No
Debit Cards
 Yes Yes
Mortgage Loans
 Yes No

Customer Service

Feature Merrill Edge Robinhood
Phone Support (Prospect Customers)
 Yes No
Phone Support (Current Customers)
 Yes Yes
Email Support
 Yes Yes
Live Chat (Prospect Customers)
 Yes No
Live Chat (Current Customers)
 Yes No
24/7 Support
 Yes No

Overall

Feature Merrill Edge Robinhood
Overall 4.5 3
Commissions & Fees 4.5 4.5
Offering of Investments 4 2.5
Platforms & Tools 4 2
Mobile Trading 4.5 4
Research 4.5 2
Education 4.5 3
Ease of Use 5 5
Merrill Edge Review Robinhood Review
Winner check_circle

Comparing brokers side by side is no easy task. For our 2021 annual broker review, we spent hundreds of hours assessing 11 brokerages to find the best online broker. Let's compare Merrill Edge vs Robinhood.

Is Merrill Edge or Robinhood better for beginners?
Merrill Edge is better for beginner investors than Robinhood. Merrill Edge offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement).

What about Merrill Edge vs Robinhood pricing?
Merrill Edge and Robinhood charge the same amount for regular stock trades, $0. Looking at options, the base fees charged are the same for both brokers, $0. Robinhood's per contract rate of $0 is less than Merrill Edge which charges $0.65. For a complete commissions summary, see our best discount brokers guide.

Does Merrill Edge or Robinhood offer a wider range of investment options?
Merrill Edge offers a more diverse selection of investment options than Robinhood. Merrill Edge offers investors access to Stock Trading, OTCBB / Pink Sheets, Options Trading, Mutual Funds and Advisor Services. Looking at Mutual Funds, Merrill Edge boasts an offering of 3466 mutual funds compared to Robinhood's 0 available funds.

Which trading platform is better: Merrill Edge or Robinhood?
To compare the trading platforms of both Merrill Edge and Robinhood, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Merrill Edge offers a better experience. With research, Merrill Edge offers superior market research. Finally, we found Merrill Edge to provide better mobile trading apps.

Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Clients can have Debit Cards at Robinhood while customers at Merrill Edge can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.

Overall winner: Merrill Edge

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All pricing data was obtained from a published web site as of 01/19/2021 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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