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TD Ameritrade vs Merrill Edge 2019

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 TD Ameritrade better than Merrill Edge? After scoring brokers in nine separate categories for our 2019 review, TD Ameritrade (86.98%) is better than Merrill Edge (77.93%). The extra cost of trading with TD Ameritrade is worth every cent – the brokerage delivers fantastic platforms, research, mobile apps, education, and customer service. This outstanding all-round experience makes TD Ameritrade our No. 1 overall broker in 2019.

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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) $6.95 $6.95
ETF Trade Fee $6.95 $6.95
Options Base Fee $6.95 $6.95
Options Per Contract Fee $0.75 $0.75
Mutual Fund Trade Fee $49.99 $19.95
Broker Assisted Trades Fee $44.99 $29.95
Commissions & Fees 3.5 4
Winner check_circle

Margin Rates

Feature TD Ameritrade
Open Account
Merrill Edge
Open Account
Under $24,999.99 10.25% 10.63%
$25,000.00 to $49,999.99 10.00% 9.50%
$50,000.00 to $99,999.99 9.00% 9.50%
$100,000.00 to $249,999.99 8.75% 8.13%
$250,000.00 to $499,999.99 8.50% 8.13%
$500,000.00 to $999,999.99 8.50% 7.88%
Above $1,000,000.00 7.75% 7.25%
Commissions & Fees 3.5 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 3.5 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 571 0
Mutual Funds (No Load)
5185 2471
Mutual Funds (Total)
12418 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
Winner check_circle

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
Two-Factor Authentication Login
Yes Yes
Heat Mapping
Yes Yes
Platforms & Tools 5 4
Winner check_circle

Charting Features

Feature TD Ameritrade Merrill Edge
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
411 95
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
Client 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 - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
No No
Charting - After Hours
Yes Yes
Charting - Drawing
Yes Yes
Charting - Study Customizations
Yes Yes
Customizable Homescreen
No Yes
Heatmapping
No Yes
Stream Live TV
Yes No
Barcode Lookup
Yes No
Mobile Trading 4.5 4.5
Winner check_circle

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
Research - Futures
Yes No
Research - Forex
Yes No
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 No
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 No
Interactive Learning - Quizzes
Yes Yes
Investor Magazine
Yes Yes
Education 5 4.5
Winner check_circle

Banking

Feature TD Ameritrade Merrill Edge
Retail Locations
364 4400
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
Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Merrill Edge vs TD Ameritrade to determine which broker is best. Let's dive in.

First, we will break down the commission charges of both brokers for placing stock and options trades. Merrill Edge and TD Ameritrade both cost $6.95 per trade. With options, the base fee is $6.95 for both Merrill Edge and TD Ameritrade. Option contracts run $0.75 a piece at both brokerages. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.

Next, investors want to make sure they can trade the investment vehicle they want. TD Ameritrade provides its clients with Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while Merrill Edge provides clients access to Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Merrill Edge trails TD Ameritrade by 8,709 total mutual funds, with TD Ameritrade offering 12418 and Merrill Edge offering 3709.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. TD Ameritrade has virtual trading, Merrill Edge doesn't. For mobile trading, Merrill Edge along with TD Ameritrade both support the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. 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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