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Merrill Edge vs Robinhood 2019

Is Merrill Edge better than Robinhood? Based on over 4,000 data points from our 2019 annual broker review, Merrill Edge (77.93%) is better than Robinhood (46.99%).

Merrill Edge

Best Rewards Program - Open Account
Special Offer: Invest in a new account and get up to $600.

Merrill Edge ($2.95 per trade) was awarded #1 for Banking Services and #1 Overall Client Experience, thanks to its parent company, Bank of America (BofA). Not limited to just BofA customers, Merrill Edge's Preferred Rewards program is excellent, offering unlimited $0 stock trades among other perks such as bonus rewards on credit cards and discounted mortgage rates.Read full review.

Robinhood

Great Mobile App
Robinhood makes trading simple for beginners by offering an easy-to-use mobile app and $0 stock, options, ETF, and cryptocurrency trades. However, Robinhood makes money by accepting payment for order flow. Furthermore, few trading tools are offered, and there is no phone support. Read full review.

Overall Rating

Feature Merrill Edge Robinhood
Overall 4 2.5
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 4.5
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Margin Rates

Feature Merrill Edge
Open Account
Robinhood
Under $24,999.99 10.63% 5.00%
$25,000.00 to $49,999.99 9.50% 5.00%
$50,000.00 to $99,999.99 9.50% 5.00%
$100,000.00 to $249,999.99 8.13% 5.00%
$250,000.00 to $499,999.99 8.13% 5.00%
$500,000.00 to $999,999.99 7.88% 5.00%
Above $1,000,000.00 7.25% 5.00%
Commissions & Fees 4 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 4.5

Investment Options

Feature Merrill Edge Robinhood
Stock Trading
Yes Yes
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 0 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
Advisor Services
Yes No
International Trading
No No
Offering of Investments 3 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 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
Platforms & Tools 4 1
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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 1
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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 4.5 3.5
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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 1
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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 1
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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 1
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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 1
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Options Trading

Feature Merrill Edge Robinhood
Option Chains - Streaming
Yes No
Option Chains - Total Columns
69 5
Option Chains - Greeks
5 0
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 No
Option Positions - Adv Analysis
Yes No
Option Positions - Rolling
No No
Option Positions - Grouping
Yes No
Platforms & Tools 4 1
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Beginners

Feature Merrill Edge Robinhood
Has Education - Stocks
Yes Yes
Has Education - ETFs
Yes No
Has Education - Options
Yes Yes
Has Education - Mutual Funds
Yes No
Has Education - Fixed Income
Yes No
Has 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
No No
Interactive Learning - Quizzes
Yes No
Investor Magazine
Yes No
Education 4.5 2
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Banking

Feature Merrill Edge Robinhood
Retail Locations
4400 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
Winner check_circle

Overall

Feature Merrill Edge Robinhood
Merrill Edge Review Robinhood Review
Overall 4 2.5
Winner check_circle

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 ($2.95 and $0, respectively). For options trading, Merrill Edge has a base fee of $2.95, and Robinhood a base fee of $0. Robinhood's per contract rate of $0 is less than Merrill Edge which charges $0.65. 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 offers clients Stock Trading and Options Trading while Merrill Edge offers Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Merrill Edge offers its clients access to 3709 different mutual funds while Robinhood has 0 available funds, a difference of 3,709.

Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Neither broker offers virtual trading. For mobile trading, Merrill Edge and Robinhood both have a 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 offered by Merrill Edge while Robinhood offers 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 02/18/2019 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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