StockBrokers.com is committed to the highest ethical standards and reviews services independently. Learn how we make money.

TD Ameritrade vs Merrill Edge 2022

StockBrokers.com

Written by StockBrokers.com

November 02, 2022

Is TD Ameritrade better than Merrill Edge? After testing 15 of the best online brokers over six months, TD Ameritrade (95.41%) is better than E*TRADE (92.52%). TD Ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners and reliable customer service. This outstanding all-around experience makes TD Ameritrade one of our top overall brokers in 2022.

Select Brokers×
Overall RatingTD AmeritradeMerrill EdgeE*TRADE
Overall5 Stars4.5 Stars5 Stars
Commissions & Fees4.5 Stars4.5 Stars4.5 Stars
Investment Options5 Stars4 Stars5 Stars
Platforms & Tools5 Stars4 Stars4.5 Stars
Mobile Trading Apps5 Stars4 Stars5 Stars
Research5 Stars4.5 Stars4.5 Stars
Customer Service4.5 Stars4.5 Stars4.5 Stars
Education5 Stars4.5 Stars4.5 Stars
Ease Of Use5 Stars4 Stars5 Stars
Winnercheck_circle
ReviewTD Ameritrade ReviewMerrill Edge ReviewE*TRADE Review
Trading FeesTD AmeritradeMerrill EdgeE*TRADE
Minimum Deposit$0.00$0.00$0.00
Stock Trades$0.00$0.00$0.00
Penny Stock Fees (OTCCB)$6.95N/A$6.95
Mutual Fund Trade FeeVaries$19.95$19.99
Options (Base Fee)$0.00$0.00$0.00
Options (Per Contract)$0.65$0.65$0.65
Futures (Per Contract)$2.25N/A$1.50
Broker Assisted Trade Fee$2529.95$25
Margin RatesTD AmeritradeMerrill EdgeE*TRADE
Margin Rate Under $24,999.9912.50%N/A11.95%
Margin Rate $25,000.00 to $49,999.9912.00%N/A11.45%
Margin Rate $50,000.00 to $99,999.9911.00%N/A10.95%
Margin Rate $100,000.00 to $249,999.9910.75%N/A10.45%
Margin Rate $250,000.00 to $499,999.9910.50%N/A9.95%
Margin Rate $500,000.00 to $999,999.99N/AN/A9.45%
Margin Rate Above $1,000,000.00N/AN/A8.45%
Account FeesTD AmeritradeMerrill EdgeE*TRADE
IRA Annual Fee$0.00$0.00$0.00
IRA Closure Fee$0.00$49.95$0.00
Account Transfer Out (Partial)$0.00$0.00$25.00
Account Transfer Out (Full)$75.00$49.95$75.00
Options Exercise Fee$0.00$0.00$0.00
Options Assignment Fee$0.00$0.00$0.00
Investment OptionsTD AmeritradeMerrill EdgeE*TRADE
Stock TradingYesYesYes
Margin TradingYesYesYes
Fractional SharesNoNoNo
OTCBB / Pink SheetsYesYesYes
Options TradingYesYesYes
Complex Options Max Legs444
Futures TradingYesNoYes
Forex TradingYesNoNo
Crypto TradingNoNoNo
Crypto Trading - Total Coins000
Mutual Funds (No Load)369829526486
Mutual Funds (Total)587634667242
Bonds (US Treasury)YesYesYes
Bonds (Corporate)YesYesYes
Bonds (Municipal)YesYesYes
Advisor ServicesYesYesYes
International Countries (Stocks)000
Order TypesTD AmeritradeMerrill EdgeE*TRADE
Order Type - MarketYesYesYes
Order Type - LimitYesYesYes
Order Type - After HoursYesYesYes
Order Type - StopYesYesYes
Order Type - Trailing StopYesYesYes
Order Type - OCOYesNoYes
Order Type - OTOYesNoYes
Order Type - Broker AssistedYesYesYes
BeginnersTD AmeritradeMerrill EdgeE*TRADE
Education (Stocks)YesYesYes
Education (ETFs)YesYesYes
Education (Options)YesYesYes
Education (Mutual Funds)YesYesYes
Education (Bonds)YesYesYes
Education (Retirement)YesYesYes
Retirement CalculatorYesYesYes
Investor DictionaryYesYesYes
Paper TradingYesNoYes
VideosYesYesYes
WebinarsYesYesYes
Webinars (Archived)YesYesYes
Progress TrackingYesNoNo
Interactive Learning - QuizzesYesYesYes
Stock Trading AppsTD AmeritradeMerrill EdgeE*TRADE
iPhone AppYesYesYes
Android AppYesYesYes
Apple Watch AppYesYesYes
Trading - StocksYesYesYes
Trading - After-HoursYesYesYes
Trading - Simple OptionsYesYesYes
Trading - Complex OptionsYesYesYes
Order Ticket RT QuotesYesYesYes
Order Ticket SRT QuotesYesNoYes
Stock App FeaturesTD AmeritradeMerrill EdgeE*TRADE
Market Movers (Top Gainers)YesYesYes
Stream Live TVYesNoYes
Videos on DemandYesNoNo
Stock AlertsYesYesYes
Option Chains ViewableYesYesYes
Watch List (Real-time)YesYesYes
Watch List (Streaming)YesYesYes
Watch Lists - Create & ManageYesYesYes
Watch Lists - Column CustomizationYesNoYes
Watch Lists - Total Fields51428595
Stock App ChartingTD AmeritradeMerrill EdgeE*TRADE
Charting - After-HoursYesNoYes
Charting - Can Turn HorizontallyYesYesYes
Charting - Multiple Time FramesYesYesYes
Charting - Technical Studies4003410
Charting - Study CustomizationsYesYesYes
Charting - Stock ComparisonsYesYesYes
Trading PlatformsTD AmeritradeMerrill EdgeE*TRADE
Active Trading PlatformthinkorswimMerrill Edge Market ProPower E*TRADE
Desktop Trading PlatformYesNoNo
Desktop Platform (Mac)YesNoNo
Web Trading PlatformYesYesYes
Paper TradingYesNoYes
Trade JournalYesNoNo
Watch Lists - Total Fields51428595
Stock Chart FeaturesTD AmeritradeMerrill EdgeE*TRADE
Charting - Adjust Trades on ChartYesYesYes
Charting - Indicators / Studies429104119
Charting - Drawing Tools242331
Charting - NotesYesYesYes
Charting - Index OverlaysYesYesYes
Charting - Historical TradesYesYesYes
Charting - Corporate EventsYesYesYes
Charting - Custom Date RangeYesYesYes
Charting - Custom Time BarsYesYesNo
Charting - Automated AnalysisYesYesYes
Charting - Save ProfilesYesYesYes
Trade Ideas - Technical AnalysisYesYesYes
Charting - Study Customizations986
Charting - Custom StudiesYesNoNo
Day TradingTD AmeritradeMerrill EdgeE*TRADE
Streaming Time & SalesYesYesYes
Streaming TVYesNoYes
Direct Market Routing - StocksYesNoYes
Ladder TradingYesNoNo
Trade Hot KeysYesNoYes
Level 2 Quotes - StocksYesYesYes
Trade Ideas - BacktestingYesYesNo
Trade Ideas - Backtesting AdvYesNoNo
Short LocatorNoNoNo
Order Liquidity RebatesNoNoNo
Research OverviewTD AmeritradeMerrill EdgeE*TRADE
Research - StocksYesYesYes
Research - ETFsYesYesYes
Research - Mutual FundsYesYesYes
Research - Pink Sheets / OTCBBYesYesYes
Research - BondsYesYesYes
Screener - StocksYesYesYes
Screener - ETFsYesYesYes
Screener - Mutual FundsYesYesYes
Screener - BondsYesYesYes
Misc - Portfolio AllocationYesYesYes
Stock ResearchTD AmeritradeMerrill EdgeE*TRADE
Stock Research - PDF Reports636
Stock Research - EarningsYesYesYes
Stock Research - InsidersYesYesYes
Stock Research - SocialYesNoYes
Stock Research - NewsYesYesYes
Stock Research - ESGNoYesNo
Stock Research - SEC FilingsYesYesYes
ETF ResearchTD AmeritradeMerrill EdgeE*TRADE
ETFs - Strategy OverviewYesYesYes
ETF Fund Facts - Inception DateYesYesYes
ETF Fund Facts - Expense RatioYesYesYes
ETF Fund Facts - Net AssetsYesYesYes
ETF Fund Facts - Total HoldingsNoYesYes
ETFs - Top 10 HoldingsYesYesYes
ETFs - Sector ExposureYesYesYes
ETFs - Risk AnalysisYesYesYes
ETFs - RatingsYesYesYes
ETFs - Morningstar StyleMapYesYesYes
ETFs - PDF ReportsYesYesYes
Mutual Fund ResearchTD AmeritradeMerrill EdgeE*TRADE
Mutual Funds - Strategy OverviewYesYesYes
Mutual Funds - Performance ChartYesYesNo
Mutual Funds - Performance AnalysisYesYesYes
Mutual Funds - ProspectusYesYesYes
Mutual Funds - 3rd Party RatingsYesYesYes
Mutual Funds - Fees BreakdownYesYesYes
Mutual Funds - Top 10 HoldingsYesYesYes
Mutual Funds - Asset AllocationYesYesYes
Mutual Funds - Sector AllocationYesYesYes
Mutual Funds - Country AllocationNoYesYes
Mutual Funds - StyleMapYesYesYes
Options TradingTD AmeritradeMerrill EdgeE*TRADE
Option Chains - Basic ViewYesYesYes
Option Chains - Strategy ViewYesYesYes
Option Chains - StreamingYesYesYes
Option Chains - Total Columns356831
Option Chains - Greeks555
Option Chains - Quick AnalysisYesYesYes
Option Analysis - P&L ChartsYesYesYes
Option Probability AnalysisYesYesYes
Option Probability Analysis AdvYesNoYes
Option Positions - GreeksYesYesYes
Option Positions - Greeks StreamingYesYesYes
Option Positions - Adv AnalysisYesYesYes
Option Positions - RollingYesYesYes
Option Positions - GroupingYesYesYes
BankingTD AmeritradeMerrill EdgeE*TRADE
Bank (Member FDIC)NoYesYes
Checking AccountsYesYesYes
Savings AccountsNoYesYes
Credit CardsYesYesYes
Debit CardsYesYesYes
Mortgage LoansNoYesYes
Customer ServiceTD AmeritradeMerrill EdgeE*TRADE
Phone Support (Prospect Customers)YesYesYes
Phone Support (Current Customers)YesYesYes
Email SupportYesYesYes
Live Chat (Prospect Customers)YesYesNo
Live Chat (Current Customers)YesYesYes
24/7 SupportYesYesYes
OverallTD AmeritradeMerrill EdgeE*TRADE
Overall5 Stars4.5 Stars5 Stars
Commissions & Fees4.5 Stars4.5 Stars4.5 Stars
Investment Options5 Stars4 Stars5 Stars
Platforms & Tools5 Stars4 Stars4.5 Stars
Mobile Trading Apps5 Stars4 Stars5 Stars
Research5 Stars4.5 Stars4.5 Stars
Education5 Stars4.5 Stars4.5 Stars
Ease Of Use5 Stars4 Stars5 Stars
Winnercheck_circle
ReviewTD Ameritrade ReviewMerrill Edge ReviewE*TRADE Review
  • check_box_outline_blankcheck_boxAlly Invest
  • check_box_outline_blankcheck_boxCharles Schwab
  • check_box_outline_blankcheck_boxE*TRADE
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFidelity
  • check_box_outline_blankcheck_boxFirstrade
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
  • check_box_outline_blankcheck_boxMerrill Edge
  • check_box_outline_blankcheck_boxRobinhood
  • check_box_outline_blankcheck_boxSofi Invest
  • check_box_outline_blankcheck_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTradeStation
  • check_box_outline_blankcheck_boxTradier
  • check_box_outline_blankcheck_boxVanguard
  • check_box_outline_blankcheck_boxWebull
Compare 0 of 5
arrow_upward

TD Ameritrade vs Merrill Edge Comparison

Comparing brokers side by side is no easy task. For our 2022 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare TD Ameritrade vs Merrill Edge.

Is TD Ameritrade or Merrill Edge better for beginners?

TD Ameritrade offers more comprehensive new investor education for beginner investors than E*TRADE. TD Ameritrade offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while Merrill Edge offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement).

What about TD Ameritrade vs Merrill Edge pricing?

TD Ameritrade and Merrill Edge charge the same amount for regular stock trades, $0.00. TD Ameritrade and Merrill Edge both charge $0.65 per option contract. For a complete commissions summary, see our best brokers for free stock trading guide.

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

TD Ameritrade offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds, Futures Trading, Forex Trading and Advisor Services, while Merrill Edge offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Advisor Services, neither have Fractional Shares. Looking at Mutual Funds, Merrill Edge trails TD Ameritrade in its offering of no transaction fee (NTF) mutual funds, with TD Ameritrade offering 3610 and Merrill Edge offering 3095.

Which trading platform is better: TD Ameritrade or Merrill Edge?

To compare the trading platforms of TD Ameritrade and Merrill Edge, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TD Ameritrade offers a better experience. With research, TD Ameritrade offers superior market research. Finally, we found E*TRADE 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, Debit Cards and Credit Cards are offered by TD Ameritrade while Merrill Edge offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.

Is TD Ameritrade good?

TD Ameritrade delivers $0 trades, fantastic trading platforms, excellent market research, industry-leading education for beginners and reliable customer service. This outstanding all-around experience makes TD Ameritrade one of our top overall brokers in 2022.

Is Merrill Edge good?

Merrill Edge offers $0 trades with industry-leading research tools — especially for ESG research — and excellent customer service. Better yet, the Preferred Rewards program at Bank of America, Merrill Edge’s parent, offers the best rewards of any bank broker we tested in 2022.

TD Ameritrade vs Merrill Edge Winner

Overall winner: TD Ameritrade

Read Next

Explore our other online trading guides:


Was this helpful?
Yes or No

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