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Merrill Edge vs Robinhood 2021

Is Merrill Edge better than Robinhood? After testing 11 of the best online brokers over three months, Merrill Edge (91.72%) is better than Robinhood (62.62%). Merrill Edge offers $0 trades with industry-leading research tools (especially ESG research) and excellent customer service. Better yet, for current Bank of America customers, Merrill Edge's Preferred Rewards program provides the best rewards of any bank broker we tested in 2021.


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Overall Rating

Feature Merrill Edge Robinhood
Overall 4.5 3
Commissions & Fees 4.5 4.5
Offering of Investments 4 2.5
Platforms & Tools 4 2
Mobile Trading 4.5 4
Research 4.5 2
Education 4.5 3
Ease of Use 5 5
Merrill Edge Review Robinhood Review
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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
2 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 Builder
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 No

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 4.5 3
Commissions & Fees 4.5 4.5
Offering of Investments 4 2.5
Platforms & Tools 4 2
Mobile Trading 4.5 4
Research 4.5 2
Education 4.5 3
Ease of Use 5 5
Merrill Edge Review Robinhood Review
Winner check_circle

Comparing brokers side by side is no easy task. For our 2021 annual broker review, we spent hundreds of hours assessing 11 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. Robinhood's per contract rate of $0 is less than Merrill Edge which charges $0.65. 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 Merrill Edge 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. Clients can have Debit Cards at Robinhood while customers at Merrill Edge can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.

Overall winner: Merrill Edge

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All pricing data was obtained from a published web site as of 01/19/2021 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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