Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare Merrill Edge vs Robinhood to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. Merrill Edge charges more than Robinhood for placing regular stock trades ($6.95 and $0, respectively). For options trading, Merrill Edge has a base fee of $6.95, and Robinhood a base fee of $0. Option contracts are pricier at Merrill Edge, costing $0.75 versus $0 at Robinhood. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. Robinhood supports Stock Trading and Options Trading while Merrill Edge supports Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Robinhood trails Merrill Edge by 3,709 total mutual funds, with Merrill Edge offering 3709 and Robinhood offering 0.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Merrill Edge nor Robinhood offers virtual trading. For mobile trading, Both Merrill Edge and Robinhood offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Merrill Edge while customers at Robinhood can have none of these. All factors considered, when it comes to platform tools, research, and mobile trading, Merrill Edge along with Robinhood both finished with awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, between Merrill Edge and Robinhood, Merrill Edge is the winner
Merrill Edge Review