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Merrill Edge vs Robinhood 2019
The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.
Is Merrill Edge better than Robinhood? After scoring brokers on over 4,000 data points for our 2019 review, Merrill Edge (77.93%) is better than Robinhood (46.99%). Merrill Edge offers investors an excellent rewards program and a well-rounded package worth being a customer for, especially Bank of America clients.
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Overall Rating
| Feature | Merrill Edge | Robinhood |
| Overall | ||
| Merrill Edge Review | Robinhood Review |
Trading Fees
| Feature | Merrill Edge | Robinhood |
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trade Fee (per trade) | $6.95 | $0.00 |
| Options Base Fee | $6.95 | $0.00 |
| Options Per Contract Fee | $0.75 | $0.00 |
| Mutual Fund Trade Fee | $19.95 | N/A |
| Broker Assisted Trades Fee | $29.95 | $0.00 |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $49.95 | $0.00 |
| Commissions & Fees | ||
| Winner | check_circle |
Margin Rates
| Feature | Merrill Edge | 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 | ||
| Winner | check_circle |
Trading Platforms
| Feature | Merrill Edge | Robinhood |
|
Desktop Platform (Windows) |
Yes | No |
|
Desktop Platform (Mac) |
Yes | No |
|
Web Platform |
Yes | Yes |
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Paper Trading |
No | No |
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Trade Journal |
No | No |
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Watch Lists - Total Fields |
285 | 7 |
|
Two-Factor Authentication Login |
Yes | Yes |
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Heat Mapping |
Yes | No |
| Platforms & Tools | ||
| Winner | check_circle |
Charting Features
| Feature | Merrill Edge | Robinhood |
|
Charting - Trade Off Chart |
Yes | No |
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Charting - Indicators / Studies |
95 | 0 |
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Charting - Drawing Tools |
22 | 0 |
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Charting - Historical Trades |
Yes | No |
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Charting - Corporate Events |
Yes | No |
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Charting - Automated Analysis |
Yes | No |
|
Charting - Save Profiles |
Yes | No |
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Charting - Study Customizations |
8 | 0 |
|
Charting - Custom Studies |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
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 |
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Level 2 Quotes - Options |
Yes | No |
|
Trade Ideas - Backtesting |
Yes | No |
|
Short Locator |
No | No |
|
Client Liquidity Rebates |
No | No |
| Winner | check_circle |
Mobile Trading
| 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 |
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Trading - Conditional Orders |
No | No |
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Trading - Mutual Funds |
Yes | No |
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Trading - Simple Options |
Yes | Yes |
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Trading - Complex Options |
Yes | Yes |
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Trading - Option Rolling |
No | No |
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Touch / Face ID |
Yes | Yes |
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Watch List Syncing |
Yes | Yes |
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Stock Alerts - Basic Fields |
Yes | Yes |
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Stock Alerts - Advanced Fields |
No | No |
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Charting - After Hours |
Yes | Yes |
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Charting - Drawing |
Yes | No |
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Charting - Study Customizations |
Yes | No |
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Customizable Homescreen |
Yes | No |
|
Heatmapping |
Yes | No |
|
Stream Live TV |
No | No |
|
Barcode Lookup |
No | No |
| Mobile Trading | ||
| Winner | check_circle |
Research Overview
| Feature | Merrill Edge | Robinhood |
|
Research - Stocks |
Yes | Yes |
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Research - ETFs |
Yes | Yes |
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Research - Mutual Funds |
Yes | No |
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Research - Pink Sheets / OTCBB |
Yes | No |
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Research - Fixed Income |
Yes | No |
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Research - Futures |
No | No |
|
Research - Forex |
No | No |
|
Screener - Stocks |
Yes | No |
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Screener - ETFs |
Yes | No |
|
Screener - Mutual Funds |
Yes | No |
|
Screener - Options |
Yes | No |
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Screener - Bonds |
Yes | No |
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Misc - Portfolio Builder |
Yes | No |
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Misc - Portfolio Allocation |
Yes | Yes |
| Research | ||
| Winner | check_circle |
Stock Research
| Feature | Merrill Edge | Robinhood |
|
Stock Research - Reports |
3 | 0 |
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Stock Research - Earnings |
Yes | Yes |
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Stock Research - Insiders |
Yes | No |
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Stock Research - Metric Comp |
Yes | No |
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Stock Research - SEC Filings |
Yes | No |
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Stock Research - Social |
No | No |
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Stock Research - Balance Sheet |
Yes | No |
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Stock Research - Cash Flows |
Yes | No |
|
Stock Research - News |
Yes | Yes |
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Stock Research - ESG |
Yes | No |
| Research | ||
| Winner | check_circle |
Fund Research
| Feature | Merrill Edge | Robinhood |
|
ETFs - Strategy Overview |
Yes | Yes |
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ETFs - Top 10 Holdings |
Yes | No |
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ETFs - Sector Exposure |
Yes | No |
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ETFs - Risk Analysis |
Yes | No |
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ETFs - Performance Analysis |
Yes | Yes |
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ETFs - Ratings |
Yes | No |
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ETFs - Morningstar StyleMap |
Yes | No |
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ETFs - Reports |
Yes | No |
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Mutual Funds - Strategy Overview |
Yes | No |
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Mutual Funds - Prospectus |
Yes | No |
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Mutual Funds - Reports |
Yes | No |
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Mutual Funds - Fees Breakdown |
Yes | No |
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Mutual Funds - Top 10 Holdings |
Yes | No |
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Mutual Funds - Asset Allocation |
Yes | No |
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Mutual Funds - Sector Allocation |
Yes | No |
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Mutual Funds - Country Allocation |
Yes | No |
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Mutual Funds - StyleMap |
Yes | No |
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Mutual Funds - 3rd Party Ratings |
Yes | No |
| Research | ||
| Winner | check_circle |
Options Trading
| Feature | Merrill Edge | Robinhood |
|
Option Chains - Streaming |
Yes | No |
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Option Chains - Total Columns |
69 | 5 |
|
Option Chains - Greeks |
5 | 0 |
|
Option Chains - Quick Analysis |
Yes | No |
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Option Analysis - P&L Charts |
Yes | No |
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Option Probability Analysis |
Yes | No |
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Option Probability Analysis Adv |
No | No |
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Option Positions - Greeks |
Yes | No |
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Option Positions - Adv Analysis |
Yes | No |
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Option Positions - Rolling |
No | No |
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Option Positions - Grouping |
Yes | No |
| Platforms & Tools | ||
| Winner | check_circle |
Investments
| Feature | Merrill Edge | Robinhood |
|
Stock Trading |
Yes | Yes |
|
OTCBB / Pink Sheets |
Yes | No |
|
Options Trading |
Yes | Yes |
|
Complex Options Max Legs |
2 | 4 |
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Futures Trading |
No | No |
|
Forex Trading |
No | No |
| Commission-Free ETFs | 0 | all |
|
Mutual Funds (No Load) |
2471 | 0 |
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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 | ||
| Winner | check_circle |
Order Types
| Feature | Merrill Edge | Robinhood |
|
Order Type - Market |
Yes | Yes |
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Order Type - Limit |
Yes | Yes |
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Order Type - Stop |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | No |
|
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 | ||
| Winner | check_circle |
Beginners
| Feature | Merrill Edge | Robinhood |
|
Has Education - Stocks |
Yes | Yes |
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Has Education - ETFs |
Yes | No |
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Has Education - Options |
Yes | Yes |
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Has Education - Mutual Funds |
Yes | No |
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Has Education - Fixed Income |
Yes | No |
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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 | ||
| Winner | check_circle |
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 | ||
| Winner | check_circle |
Overall
| Feature | Merrill Edge | Robinhood |
| Merrill Edge Review | Robinhood Review | |
| Overall | ||
| Winner | check_circle |
Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare Merrill Edge vs Robinhood.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Merrill Edge, with its regular stock trades costing $6.95, is more expensive than Robinhood's rate of $0 per trade. 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. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.
Next to commission rates, being able to trade what you want is important. Robinhood offers clients Stock Trading and Options Trading while Merrill Edge offers Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Robinhood trails Merrill Edge by 3,709 total mutual funds, with Merrill Edge offering 3709 and Robinhood offering 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Merrill Edge nor Robinhood offers virtual trading. Taking a look at mobile trading, Both Merrill Edge and Robinhood offer clients access to an iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. 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.
Overall, between Merrill Edge and Robinhood, Merrill Edge is the winner.
Merrill Edge Review
Robinhood Review
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Merrill Edge, with its regular stock trades costing $6.95, is more expensive than Robinhood's rate of $0 per trade. 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. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.
Next to commission rates, being able to trade what you want is important. Robinhood offers clients Stock Trading and Options Trading while Merrill Edge offers Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Robinhood trails Merrill Edge by 3,709 total mutual funds, with Merrill Edge offering 3709 and Robinhood offering 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Merrill Edge nor Robinhood offers virtual trading. Taking a look at mobile trading, Both Merrill Edge and Robinhood offer clients access to an iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. 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.
Overall, between Merrill Edge and Robinhood, Merrill Edge is the winner.
Merrill Edge Review
Robinhood Review
Related Comparisons
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.
