Is Merrill Edge better than Robinhood? After testing 15 of the best online brokers over six months, Merrill Edge (84.89%) is better than Robinhood (64.85%). Merrill Edge offers $0 trades with industry-leading research tools — especially for ESG research — and excellent customer service. Better yet, the Preferred Rewards program at Bank of America, Merrill Edge’s parent, offers the best rewards of any bank broker we tested in 2022.
Merrill Edge vs Robinhood 2022
![]() |
![]() |
|
SPECIAL OFFER
Get up to $600 when you invest in a new Merrill Edge Self-Directed account.
|
||
Visit Site > |
Overall Rating
Feature | Merrill Edge | Robinhood |
Overall | ||
Commissions & Fees | ||
Offering of Investments | ||
Platforms & Tools | ||
Mobile Trading Apps | ||
Research | ||
Education | ||
Ease of Use | ||
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 |
4 | 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 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 | Yes |
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 | ||
Commissions & Fees | ||
Offering of Investments | ||
Platforms & Tools | ||
Mobile Trading Apps | ||
Research | ||
Education | ||
Ease of Use | ||
Merrill Edge Review | Robinhood Review | |
Winner | check_circle |
Comparing brokers side by side is no easy task. For our 2022 annual broker review, we spent hundreds of hours assessing 15 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. Each option contract then costs $0.65 at Merrill Edge and $0 at Robinhood. 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 Robinhood 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. Debit Cards are offered by Robinhood while Merrill Edge offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Overall winner: Merrill Edge
Read Next: Best Online Brokers 2021
Related Comparisons
- Merrill Edge vs. Charles Schwab
- Robinhood vs. E*TRADE
- Merrill Edge vs. Fidelity
- Robinhood vs. Fidelity
- Merrill Edge vs. TD Ameritrade
- Robinhood vs. TD Ameritrade
- Robinhood vs. Webull
All pricing data was obtained from a published web site as of 01/10/2022 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.