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Merrill Edge vs tastytrade 2023

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Written by StockBrokers.com

February 23, 2023

Is Merrill Edge better than tastytrade? After testing 17 of the best online brokers over three months, Merrill Edge (95.25%) is better than tastytrade (81.30%). Merrill Edge and its parent, Bank of America, make for a well-rounded offering, with $0 trades, robust research, reliable customer service; and its Stock Stories and Fund Stories are an industry standout. There are some gaps in investment offerings, including crypto and futures.

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Overall RatingMerrill Edgetastytrade
Overall 5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4/5 Stars
Research 5/5 Stars 2/5 Stars
Customer Service 4.0/5 Stars 4.0/5 Stars
Education 5/5 Stars 4.5/5 Stars
Ease Of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Merrill Edge Review tastytrade Review
Trading FeesMerrill Edgetastytrade
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) N/A N/A
Mutual Fund Trade Fee $19.95 N/A
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.50 info
Futures (Per Contract) N/A $1.25
Broker Assisted Trade Fee $29.95 $0
Margin RatesMerrill Edgetastytrade
Margin Rate Under $25,000 Varies 11.00%
Margin Rate $25,000 to $49,999.99 Varies 10.50%
Margin Rate $50,000 to $99,999.99 Varies 10.00%
Margin Rate $100,000 to $249,999.99 Varies 9.50%
Margin Rate $250,000 to $499,999.99 Varies 9.00%
Margin Rate $500,000 to $999,999.99 Varies 8.50%
Margin Rate Above $1,000,000 Varies 8.00%
Account FeesMerrill Edgetastytrade
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $49.95 $60.00
Account Transfer Out (Partial) $0.00 $75.00
Account Transfer Out (Full) $49.95 $75.00
Options Exercise Fee $0.00 $5.00
Options Assignment Fee $0.00 $5.00
Investment OptionsMerrill Edgetastytrade
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares No Yes
OTC Stocks Yes No
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading No Yes
Forex Trading No No
Crypto Trading No Yes
Crypto Trading - Total Coins 0 25
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 Countries (Stocks) 0 0
Order TypesMerrill Edgetastytrade
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 No
Order Type - OCO No Yes
Order Type - OTO No Yes
Order Type - Broker Assisted Yes Yes
BeginnersMerrill Edgetastytrade
Education (Stocks) Yes Yes
Education (ETFs) Yes Yes
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 Yes Yes
Webinars (Archived) Yes Yes
Progress Tracking No No
Interactive Learning - Quizzes Yes No
Stock Trading AppsMerrill Edgetastytrade
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes No
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 FeaturesMerrill Edgetastytrade
Market Movers (Top Gainers) Yes Yes
Stream Live TV No No
Videos on Demand No No
Stock Alerts Yes No
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) Yes Yes
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization No Yes
Watch Lists - Total Fields 285 33
Stock App ChartingMerrill Edgetastytrade
Charting - After-Hours No Yes
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes No
Charting - Technical Studies 34 0
Charting - Study Customizations Yes No
Charting - Stock Comparisons Yes No
Trading PlatformsMerrill Edgetastytrade
Active Trading Platform Merrill Edge Market Pro tastytrade
Desktop Trading Platform No Yes
Desktop Platform (Mac) No Yes
Web Trading Platform Yes Yes
Paper Trading No No
Trade Journal No No
Watch Lists - Total Fields 285 33
Stock Chart FeaturesMerrill Edgetastytrade
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 104 308
Charting - Drawing Tools 23 19
Charting - Notes Yes Yes
Charting - Index Overlays Yes No
Charting - Historical Trades Yes Yes
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 Yes
Trade Ideas - Technical Analysis Yes No
Charting - Study Customizations 8 7
Charting - Custom Studies No No
Day TradingMerrill Edgetastytrade
Streaming Time & Sales Yes No
Streaming TV No Yes
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 Yes
Order Liquidity Rebates No No
Research OverviewMerrill Edgetastytrade
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 - Bonds Yes No
Misc - Portfolio Allocation Yes No
Stock ResearchMerrill Edgetastytrade
Stock Research - PDF Reports 3 0
Stock Research - Earnings Yes No
Stock Research - Insiders Yes No
Stock Research - Social No No
Stock Research - News Yes No
Stock Research - ESG Yes No
Stock Research - SEC Filings Yes No
ETF ResearchMerrill Edgetastytrade
ETFs - Strategy Overview Yes No
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 - Sector Exposure Yes No
ETFs - Risk Analysis Yes Yes
ETFs - Ratings Yes No
ETFs - Morningstar StyleMap Yes No
ETFs - PDF Reports Yes No
Mutual Fund ResearchMerrill Edgetastytrade
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart Yes No info
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus Yes No
Mutual Funds - 3rd Party Ratings 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
Options TradingMerrill Edgetastytrade
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes No
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 68 7
Option Chains - Greeks 5 5
Option Chains - Quick Analysis Yes Yes
Option Analysis - P&L Charts Yes Yes
Option Probability Analysis Yes Yes
Option Probability Analysis Adv No Yes
Option Positions - Greeks Yes Yes
Option Positions - Greeks Streaming Yes Yes
Option Positions - Adv Analysis Yes Yes
Option Positions - Rolling Yes Yes
Option Positions - Grouping Yes Yes
BankingMerrill Edgetastytrade
Bank (Member FDIC) Yes No
Checking Accounts Yes No
Savings Accounts Yes No
Credit Cards Yes No
Debit Cards Yes No
Mortgage Loans Yes No
Customer ServiceMerrill Edgetastytrade
Phone Support (Prospect Customers) No Yes
Phone Support (Current Customers) Yes Yes
Email Support Yes Yes
Live Chat (Prospect Customers) Yes Yes
Live Chat (Current Customers) Yes Yes
24/7 Support Yes No
OverallMerrill Edgetastytrade
Overall 5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4/5 Stars
Research 5/5 Stars 2/5 Stars
Education 5/5 Stars 4.5/5 Stars
Ease Of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Merrill Edge Review tastytrade Review
  • check_box_outline_blankcheck_boxAlly Invest
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  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
  • check_box_outline_blankcheck_boxMerrill Edge
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  • check_box_outline_blankcheck_boxSofi Invest
  • check_box_outline_blankcheck_boxtastytrade
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  • check_box_outline_blankcheck_boxTradeStation
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Merrill Edge vs tastytrade Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Merrill Edge vs tastytrade.

Is Merrill Edge or tastytrade better for beginners?

Merrill Edge offers more comprehensive new investor education for beginner investors than tastytrade. Merrill Edge offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while tastytrade offers investors access to Education (Stocks), Education (ETFs) and Education (Options). Neither have Paper Trading.

What about Merrill Edge vs tastytrade pricing?

Merrill Edge and tastytrade charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Merrill Edge, costing $0.65 per contract versus $0.50 per contract at tastytrade. For a complete commissions summary, see our best brokers for free stock trading guide.

Does Merrill Edge or tastytrade offer a wider range of investment options?

Merrill Edge offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Advisor Services, while tastytrade offers investors access to Stock Trading, Fractional Shares, Options Trading and Futures Trading. Neither have Forex Trading. Looking at Mutual Funds, tastytrade trails Merrill Edge in its offering of no transaction fee (NTF) mutual funds, with Merrill Edge offering 3095 and tastytrade offering 0.

Which trading platform is better: Merrill Edge or tastytrade?

To compare the trading platforms of Merrill Edge and tastytrade, 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. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Merrill Edge while tastytrade offers neither of these.

Is Merrill Edge good?

Merrill Edge and its parent, Bank of America, make for a well-rounded offering, with $0 trades, robust research, reliable customer service; and its Stock Stories and Fund Stories are an industry standout. There are some gaps in investment offerings, including crypto and futures.

Is tastytrade good?

Tastytrade isn’t for every investor, but its platform is ideal for frequent options and futures traders, offering efficient workflow, useful risk management tools, killer design, and online content that make you feel like you’re on a trading desk.

Merrill Edge vs tastytrade Winner

Overall winner: Merrill Edge

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tastytrade, Inc. (“tastytrade”) has entered into a Marketing Agreement with Marketing Agent (“Marketing Agent”) whereby tastytrade pays compensation to Marketing Agent to recommend tastytrade’s brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Marketing Agent by tastytrade and/or any of its affiliated companies. Neither tastytrade nor any of its affiliated companies is responsible for the privacy practices of Marketing Agent or this website. tastytrade does not warrant the accuracy or content of the products or services offered by Marketing Agent or this website. Marketing Agent is independent and is not an affiliate of tastytrade. tastytrade was previously known as tastyworks, Inc.

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