The StockBrokers.com 2017 Brokerage Review assessed 16 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 ($6.95 and $0, respectively). Looking at trading options, Merrill Edge's base fee is $6.95 while Robinhood's is $N/A. Each option contract then costs $N/A at Robinhood and $0.75 at Merrill Edge. 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 supports Stock Trading while Merrill Edge supports Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Merrill Edge offers its clients access to 7649 different mutual funds while Robinhood has 0 available funds, a difference of 7,649.00. Commission free ETFs can also be a nice plus, which for investors means access to 0 commission free ETFs at both brokers.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Merrill Edge nor Robinhood offers virtual trading. For mobile trading, Merrill Edge along with Robinhood both support the 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 available to clients of Merrill Edge while Robinhood offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, Merrill Edge was rated Best in Class - Research in 2017, while Robinhood was rated none of these.
Overall, Merrill Edge comes out on top with 4.00 stars over Robinhood's 2.50 stars.