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 TradeStation Securities. Is Merrill Edge or TradeStation Securities 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 $6.95 per stock trade which is $1.95 more than TradeStation Securities which charges customers $5.00 per trade. Looking at trading options, TradeStation Securities's base fee is $5.00 while Merrill Edge's is $6.95. Each option contract then costs $0.75 at Merrill Edge and $0.50 at TradeStation Securities. 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. TradeStation Securities offers clients Stock Trading, Options Trading, Mutual Funds and Futures Trading while Merrill Edge offers Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, TradeStation Securities boasts an offering of 4951 mutual funds compared to Merrill Edge's 3688 available funds. Commission free ETFs can also be a nice plus, which in this case means trading a possible 0 commission free ETFs at both brokers.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. TradeStation Securities offers virtual trading while Merrill Edge does not. For mobile trading, Merrill Edge and TradeStation Securities both have a iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to clients of Merrill Edge while TradeStation Securities offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, TradeStation Securities posted awards Best in Class - Platforms & Tools in 2018, while Merrill Edge found itself with Best in Class - Research.
Overall, Merrill Edge takes the upper hand with 4.00 stars over TradeStation Securities's 3.50 stars.