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Merrill Edge vs Robinhood 2019

Blain Reinkensmeyer

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 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) $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 4 4.5
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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 4 4.5
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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
Two-Factor Authentication Login
Yes Yes
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
95 0
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 0
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
Client Liquidity Rebates
No No
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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
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
Watch List Syncing
Yes Yes
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
No No
Charting - After Hours
Yes Yes
Charting - Drawing
Yes No
Charting - Study Customizations
Yes No
Customizable Homescreen
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
Research - Futures
No No
Research - Forex
No 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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Fund 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
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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Investments

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 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 3 2
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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
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Overall

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


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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