The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers
. This review compares Merrill Edge vs Scottrade. Is Merrill Edge or Scottrade a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Merrill Edge and Scottrade have equal fees for trading stocks (equities), $6.95 per trade. With options, the base fee is $6.95 for both Merrill Edge and Scottrade. Each option contract then costs $0.75 at Merrill Edge and $0.70 at Scottrade. 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. Merrill Edge and Scottrade provide clients with Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Merrill Edge trails Scottrade by 9,911 total mutual funds, with Scottrade offering 13599 and Merrill Edge offering 3688. Commission free ETFs can also be a nice plus, which is a wash in this comparison as both Merrill Edge and Scottrade offer 0 commission free ETFs.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Scottrade offers virtual trading while Merrill Edge does not. For mobile trading, Both Merrill Edge and Scottrade offer clients access to an 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 and Debit Cards are offered by Scottrade while Merrill Edge offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. On the whole, when it comes to tools, research, and mobile trading, both Merrill Edge and Scottrade found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Merrill Edge takes the upper hand with 4.50 stars over Scottrade's 4.00 stars.