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TD Ameritrade vs Merrill Edge 2019

Is Merrill Edge better than TD Ameritrade? Based on over 4,000 data points from our 2019 annual broker review, TD Ameritrade (86.98%) is better than Merrill Edge (77.93%).

TD Ameritrade

Best for Overall and Beginners

Rated our #1 online broker in 2019, TD Ameritrade charges $0 per trade and offers the largest variety of trading tools through its desktop-based thinkorswim and Mobile Trader platforms. It also ranks #1, alongside its Best in Class rating, for numerous other categories including Beginners, Trading Platforms and Tools, Customer Service, and Education, among others.Read full review.

Merrill Edge

Best Rewards Program

Merrill Edge ($2.95 per trade) was awarded #1 for Banking Services and #1 Overall Client Experience, thanks to its parent company, Bank of America (BofA). Not limited to just BofA customers, Merrill Edge's Preferred Rewards program is excellent, offering unlimited $0 stock trades among other perks such as bonus rewards on credit cards and discounted mortgage rates.Read full review.

Overall Rating

Feature TD Ameritrade Merrill Edge
Overall 4.5 4
TD Ameritrade Review Merrill Edge Review

Trading Fees

Feature TD Ameritrade Merrill Edge
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) $0.00 $0.00
ETF Trade Fee $0.00 $0.00
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.65 $0.65
Mutual Fund Trade Fee $49.99 $19.95
Broker Assisted Trades Fee $44.99 $29.95
Commissions & Fees 4.5 4
Winner check_circle

Margin Rates

Feature TD Ameritrade
Open Account
Merrill Edge
Open Account
Under $24,999.99 10.00% 10.13%
$25,000.00 to $49,999.99 9.75% 9.00%
$50,000.00 to $99,999.99 8.75% 9.00%
$100,000.00 to $249,999.99 8.50% 7.63%
$250,000.00 to $499,999.99 8.25% 7.63%
$500,000.00 to $999,999.99 N/A 7.38%
Above $1,000,000.00 N/A 6.75%
Commissions & Fees 4.5 4
Winner check_circle

Account Fees

Feature TD Ameritrade Merrill Edge
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $49.95
Returned ACH Fee $25.00 $30.00
Returned Wire Fee $25.00 N/A
Stock Certificate Processing Fee $0.00 $500.00
Stock Certificate Delivery Fee $500.00 N/A
Paper Statement Fee $0.00 $5.00
Paper Confirmation Fee $0.00 $3.00
Domestic Wire Fee $25.00 $24.95
International Wire Fee $25.00 $24.95
Commissions & Fees 4.5 4

Investment Options

Feature TD Ameritrade Merrill Edge
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 2
Futures Trading
Yes No
Forex Trading
Yes No
Commission-Free ETFs 570 0
Mutual Funds (No Load)
5992 2471
Mutual Funds (Total)
11949 3709
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Advisor Services
Yes Yes
International Trading
Yes No
Offering of Investments 4.5 3
Winner check_circle

Order Types

Feature TD Ameritrade Merrill Edge
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes No
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes No
Order Type - OTO
Yes No
Order Type - OTOCO
Yes No
Offering of Investments 4.5 3
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Trading Platforms

Feature TD Ameritrade Merrill Edge
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
Yes Yes
Web Platform
Yes Yes
Paper Trading
Yes No
Trade Journal
Yes No
Watch Lists - Total Fields
514 285
Heat Mapping
Yes Yes
Platforms & Tools 5 4
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Charting Features

Feature TD Ameritrade Merrill Edge
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
489 100
Charting - Drawing Tools
22 22
Charting - Historical Trades
Yes Yes
Charting - Corporate Events
Yes Yes
Charting - Automated Analysis
Yes Yes
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
9 8
Charting - Custom Studies
Yes No
Platforms & Tools 5 4
Winner check_circle

Day Trading

Feature TD Ameritrade Merrill Edge
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
Yes Yes
Streaming Time & Sales
Yes Yes
Streaming TV
Yes No
Direct Market Routing - Stocks
Yes No
Direct Market Routing - Options
Yes No
Ladder Trading
Yes No
Trade Hot Keys
Yes Yes
Level 2 Quotes - Stocks
Yes Yes
Level 2 Quotes - Options
Yes Yes
Trade Ideas - Backtesting
Yes Yes
Short Locator
No No
Order Liquidity Rebates
No No
Winner check_circle

Mobile Trading Apps

Feature TD Ameritrade Merrill Edge
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
Yes No
Trading - Mutual Funds
No Yes
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
Yes No
Touch / Face ID
Yes Yes
Winner check_circle

Mobile App Features

Feature TD Ameritrade Merrill Edge
Watch List Syncing
Yes Yes
Stock Alerts
Yes Yes
Charting - After Hours
Yes Yes
Charting - Drawing
Yes Yes
Charting - Study Customizations
Yes Yes
Heatmapping
No Yes
Stream Live TV
Yes No
Barcode Lookup
Yes No
Mobile Trading 4.5 4.5
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Research Overview

Feature TD Ameritrade Merrill Edge
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes Yes
Research - Pink Sheets / OTCBB
Yes Yes
Research - Fixed Income
Yes Yes
Screener - Stocks
Yes Yes
Screener - ETFs
Yes Yes
Screener - Mutual Funds
Yes Yes
Screener - Options
Yes Yes
Screener - Bonds
Yes Yes
Misc - Portfolio Builder
Yes Yes
Misc - Portfolio Allocation
Yes Yes
Research 5 4.5
Winner check_circle

Stock Research

Feature TD Ameritrade Merrill Edge
Stock Research - Reports
7 3
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
Yes Yes
Stock Research - Metric Comp
Yes Yes
Stock Research - SEC Filings
Yes Yes
Stock Research - Social
Yes No
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
Yes Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No Yes
Research 5 4.5
Winner check_circle

ETF Research

Feature TD Ameritrade Merrill Edge
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes Yes
ETFs - Sector Exposure
Yes Yes
ETFs - Risk Analysis
Yes Yes
ETFs - Performance Analysis
Yes Yes
ETFs - Ratings
Yes Yes
ETFs - Morningstar StyleMap
Yes Yes
ETFs - Reports
Yes Yes
Research 5 4.5
Winner check_circle

Mutual Fund Research

Feature TD Ameritrade Merrill Edge
Mutual Funds - Strategy Overview
Yes Yes
Mutual Funds - Prospectus
Yes Yes
Mutual Funds - Reports
Yes Yes
Mutual Funds - Fees Breakdown
Yes Yes
Mutual Funds - Top 10 Holdings
Yes Yes
Mutual Funds - Asset Allocation
Yes Yes
Mutual Funds - Sector Allocation
Yes Yes
Mutual Funds - Country Allocation
No Yes
Mutual Funds - StyleMap
Yes Yes
Mutual Funds - 3rd Party Ratings
Yes Yes
Research 5 4.5
Winner check_circle

Options Trading

Feature TD Ameritrade Merrill Edge
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
33 69
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
Yes No
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes Yes
Option Positions - Rolling
Yes Yes
Option Positions - Grouping
Yes Yes
Platforms & Tools 5 4
Winner check_circle

Beginners

Feature TD Ameritrade Merrill Edge
Has Education - Stocks
Yes Yes
Has Education - ETFs
Yes Yes
Has Education - Options
Yes Yes
Has Education - Mutual Funds
Yes Yes
Has Education - Fixed Income
Yes Yes
Has Education - Retirement
Yes Yes
Paper Trading
Yes No
Videos
Yes Yes
Webinars (Monthly Avg)
500 0
Webinars (Archived)
Yes No
Live Seminars
Yes Yes
Progress Tracking
Yes Yes
Interactive Learning - Quizzes
Yes Yes
Investor Magazine
Yes Yes
Education 5 4.5
Winner check_circle

Banking

Feature TD Ameritrade Merrill Edge
Retail Locations
284 4300
Member FDIC
No Yes
Checking Accounts
Yes Yes
Savings Accounts
No Yes
Credit Cards
Yes Yes
Debit Cards
Yes Yes
Mortgage Loans
No Yes
No Fee Banking
Yes No
Banking 3 5
Winner check_circle

Overall

Feature TD Ameritrade Merrill Edge
TD Ameritrade Review Merrill Edge Review
Overall 4.5 4
Winner check_circle

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 TD Ameritrade. Is Merrill Edge or TD Ameritrade 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 $2.95 per stock trade which is $2.95 more than TD Ameritrade which charges customers $0 per trade. With options, the base fees charged are $2.95 (Merrill Edge) and $0 (TD Ameritrade). Option contracts run $0.65 a piece at both brokerages. 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. TD Ameritrade supports Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while Merrill Edge supports Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, TD Ameritrade boasts an offering of 12418 mutual funds compared to Merrill Edge's 3709 available funds.

Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. TD Ameritrade makes virtual trading available to clients, while Merrill Edge does not. For mobile trading, Both Merrill Edge and TD Ameritrade 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. Clients can have Checking Accounts, Debit Cards and Credit Cards at TD Ameritrade while customers at Merrill Edge can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.

Overall, between Merrill Edge and TD Ameritrade, TD Ameritrade is the winner.

Merrill Edge Review
TD Ameritrade 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.

TD Ameritrade, Inc. and StockBrokers.com are separate, unaffiliated companies and are not responsible for each other’s services and products. View terms.

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