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TD Ameritrade vs Merrill Edge 2023

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Written by StockBrokers.com

February 23, 2023

Is TD Ameritrade better than Merrill Edge? After testing 17 of the best online brokers over three months, TD Ameritrade (97.39%) is better than Merrill Edge (95.25%). 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 2023, in which it placed among Best in Class in several categories including options trading and best for beginners.

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Overall RatingTD AmeritradeMerrill Edge
Overall 5/5 Stars 5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 5/5 Stars
Research 5/5 Stars 5/5 Stars
Customer Service 4.5/5 Stars 4.0/5 Stars
Education 5/5 Stars 5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review TD Ameritrade Review Merrill Edge Review
Trading FeesTD AmeritradeMerrill Edge
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) $6.95 N/A
Mutual Fund Trade Fee Varies $19.95
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.65
Futures (Per Contract) $2.25 N/A
Broker Assisted Trade Fee $25 $29.95
Margin RatesTD AmeritradeMerrill Edge
Margin Rate Under $25,000 12.50% Varies
Margin Rate $25,000 to $49,999.99 12.00% Varies
Margin Rate $50,000 to $99,999.99 11.00% Varies
Margin Rate $100,000 to $249,999.99 10.75% Varies
Margin Rate $250,000 to $499,999.99 10.50% Varies
Margin Rate $500,000 to $999,999.99 Varies Varies
Margin Rate Above $1,000,000 Varies Varies
Account FeesTD AmeritradeMerrill Edge
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $49.95
Account Transfer Out (Partial) $0.00 $0.00
Account Transfer Out (Full) $75.00 $49.95
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment OptionsTD AmeritradeMerrill Edge
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares No No
OTC Stocks Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading Yes No
Forex Trading Yes No
Crypto Trading No No
Crypto Trading - Total Coins 0 0
Mutual Funds (No Load) 3698 2952
Mutual Funds (Total) 5876 3466
Bonds (US Treasury) Yes Yes
Bonds (Corporate) Yes Yes
Bonds (Municipal) Yes Yes
Advisor Services Yes Yes
International Countries (Stocks) 0 0
Order TypesTD AmeritradeMerrill Edge
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 Yes
Order Type - OCO Yes No
Order Type - OTO Yes No
Order Type - Broker Assisted Yes Yes
BeginnersTD AmeritradeMerrill Edge
Education (Stocks) Yes Yes
Education (ETFs) Yes Yes
Education (Options) Yes Yes
Education (Mutual Funds) Yes Yes
Education (Bonds) Yes Yes
Education (Retirement) Yes Yes
Retirement Calculator Yes Yes
Investor Dictionary Yes Yes
Paper Trading Yes No
Videos Yes Yes
Webinars Yes Yes
Webinars (Archived) Yes Yes
Progress Tracking Yes No
Interactive Learning - Quizzes Yes Yes
Stock Trading AppsTD AmeritradeMerrill Edge
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes Yes
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 Yes No
Stock App FeaturesTD AmeritradeMerrill Edge
Market Movers (Top Gainers) Yes Yes
Stream Live TV Yes No
Videos on Demand Yes No
Stock Alerts Yes Yes
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 Yes No
Watch Lists - Total Fields 514 285
Stock App ChartingTD AmeritradeMerrill Edge
Charting - After-Hours Yes No
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 400 34
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons Yes Yes
Trading PlatformsTD AmeritradeMerrill Edge
Active Trading Platform thinkorswim Merrill Edge Market Pro
Desktop Trading Platform Yes No
Desktop Platform (Mac) Yes No
Web Trading Platform Yes Yes
Paper Trading Yes No
Trade Journal Yes No
Watch Lists - Total Fields 514 285
Stock Chart FeaturesTD AmeritradeMerrill Edge
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 429 104
Charting - Drawing Tools 24 23
Charting - Notes Yes Yes
Charting - Index Overlays Yes Yes
Charting - Historical Trades Yes Yes
Charting - Corporate Events Yes Yes
Charting - Custom Date Range Yes Yes
Charting - Custom Time Bars Yes Yes
Charting - Automated Analysis Yes Yes
Charting - Save Profiles Yes Yes
Trade Ideas - Technical Analysis Yes Yes
Charting - Study Customizations 9 8
Charting - Custom Studies Yes No
Day TradingTD AmeritradeMerrill Edge
Streaming Time & Sales Yes Yes
Streaming TV Yes No
Direct Market Routing - Stocks Yes No
Ladder Trading Yes No
Trade Hot Keys Yes No
Level 2 Quotes - Stocks Yes Yes
Trade Ideas - Backtesting Yes Yes
Trade Ideas - Backtesting Adv Yes No
Short Locator No No
Order Liquidity Rebates No No
Research OverviewTD AmeritradeMerrill Edge
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes Yes
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes Yes
Screener - Stocks Yes Yes
Screener - ETFs Yes Yes
Screener - Mutual Funds Yes Yes
Screener - Bonds Yes Yes
Misc - Portfolio Allocation Yes Yes
Stock ResearchTD AmeritradeMerrill Edge
Stock Research - PDF Reports 6 3
Stock Research - Earnings Yes Yes
Stock Research - Insiders Yes Yes
Stock Research - Social Yes No
Stock Research - News Yes Yes
Stock Research - ESG No Yes
Stock Research - SEC Filings Yes Yes
ETF ResearchTD AmeritradeMerrill Edge
ETFs - Strategy Overview Yes Yes
ETF Fund Facts - Inception Date Yes Yes
ETF Fund Facts - Expense Ratio Yes Yes
ETF Fund Facts - Net Assets Yes Yes
ETF Fund Facts - Total Holdings No Yes
ETFs - Top 10 Holdings Yes Yes
ETFs - Sector Exposure Yes Yes
ETFs - Risk Analysis Yes Yes
ETFs - Ratings Yes Yes
ETFs - Morningstar StyleMap Yes Yes
ETFs - PDF Reports Yes Yes
Mutual Fund ResearchTD AmeritradeMerrill Edge
Mutual Funds - Strategy Overview Yes Yes
Mutual Funds - Performance Chart Yes Yes
Mutual Funds - Performance Analysis Yes Yes
Mutual Funds - Prospectus Yes Yes
Mutual Funds - 3rd Party Ratings 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
Options TradingTD AmeritradeMerrill Edge
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 35 68
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 - Greeks Streaming Yes Yes
Option Positions - Adv Analysis Yes Yes
Option Positions - Rolling Yes Yes
Option Positions - Grouping Yes Yes
BankingTD AmeritradeMerrill Edge
Bank (Member FDIC) No Yes
Checking Accounts Yes Yes
Savings Accounts No Yes
Credit Cards Yes Yes
Debit Cards Yes Yes
Mortgage Loans No Yes
Customer ServiceTD AmeritradeMerrill Edge
Phone Support (Prospect Customers) Yes No
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 Yes
OverallTD AmeritradeMerrill Edge
Overall 5/5 Stars 5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 5/5 Stars 4.5/5 Stars
Platforms & Tools 5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 5/5 Stars
Research 5/5 Stars 5/5 Stars
Education 5/5 Stars 5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review TD Ameritrade Review Merrill Edge Review
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TD Ameritrade vs Merrill Edge 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 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 Merrill Edge. 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, OTC Stocks, Mutual Funds, Futures Trading, Forex Trading and Advisor Services, while Merrill Edge offers investors access to Stock Trading, Options Trading, OTC Stocks, 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, Merrill Edge offers superior market research. Finally, we found TD Ameritrade 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 2023, in which it placed among Best in Class in several categories including options trading and best for beginners.

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.

TD Ameritrade vs Merrill Edge Winner

Overall winner: TD Ameritrade

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