StockBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure

TradeStation 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 Merrill Edge better than TradeStation? Based on over 4,000 data points from our 2019 annual broker review, Merrill Edge (77.93%) is better than TradeStation (71.75%). Backed by parent company Bank of America, Merrill Edge delivers fantastic research, customer service, universal account support, and customer rewards. Merrill Edge offers 10 commission-free stock or ETF trades each month to investors with balances above $20,000.

Promo Offer $5 per Trade plus $0.50 per Contract for Options Open Account
Advertisement
Special Offer Invest in a new account and get up to $600 Open Account
Open Account Open Account

Overall Rating

Feature TradeStation Merrill Edge
Overall 3.5 4
TradeStation Review Merrill Edge Review

Trading Fees

Feature TradeStation Merrill Edge
Minimum Deposit $500.00 $0.00
Stock Trade Fee (per trade) $5.00 $6.95
ETF Trade Fee $5.00 $6.95
Options Base Fee $5.00 $6.95
Options Per Contract Fee $0.50 $0.75
Mutual Fund Trade Fee $14.95 $19.95
Broker Assisted Trades Fee $50.00 $29.95
Commissions & Fees 3.5 4
Winner check_circle

Margin Rates

Feature TradeStation
Open Account
Merrill Edge
Open Account
Under $24,999.99 9.25% 10.63%
$25,000.00 to $49,999.99 9.25% 9.50%
$50,000.00 to $99,999.99 8.50% 9.50%
$100,000.00 to $249,999.99 8.50% 8.13%
$250,000.00 to $499,999.99 8.50% 8.13%
$500,000.00 to $999,999.99 5.25% 7.88%
Above $1,000,000.00 5.25% 7.25%
Commissions & Fees 3.5 4
Winner check_circle

Account Fees

Feature TradeStation Merrill Edge
IRA Annual Fee $35.00 $0.00
IRA Closure Fee $50.00 $49.95
Returned ACH Fee $25.00 $30.00
Returned Wire Fee $25.00 N/A
Stock Certificate Processing Fee $150.00 $500.00
Stock Certificate Delivery Fee $15.00 N/A
Paper Statement Fee $1.00 $5.00
Paper Confirmation Fee $1.00 $3.00
Domestic Wire Fee $25.00 $24.95
International Wire Fee $35.00 $24.95
Commissions & Fees 3.5 4

Investment Options

Feature TradeStation 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
No No
Commission-Free ETFs 0 0
Mutual Funds (No Load)
887 2471
Mutual Funds (Total)
4357 3709
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Advisor Services
No Yes
International Trading
No No
Offering of Investments 4 3
Winner check_circle

Order Types

Feature TradeStation 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 3
Winner check_circle

Trading Platforms

Feature TradeStation Merrill Edge
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
No Yes
Web Platform
Yes Yes
Paper Trading
Yes No
Trade Journal
No No
Watch Lists - Total Fields
335 285
Two-Factor Authentication Login
Yes Yes
Heat Mapping
No Yes
Platforms & Tools 4.5 4
Winner check_circle

Charting Features

Feature TradeStation Merrill Edge
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
282 95
Charting - Drawing Tools
23 22
Charting - Historical Trades
Yes Yes
Charting - Corporate Events
No Yes
Charting - Automated Analysis
No Yes
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
12 8
Charting - Custom Studies
Yes No
Platforms & Tools 4.5 4
Winner check_circle

Day Trading

Feature TradeStation Merrill Edge
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
Yes Yes
Streaming Time & Sales
Yes Yes
Streaming TV
No 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
Yes No
Client Liquidity Rebates
Yes No
Winner check_circle

Mobile Trading Apps

Feature TradeStation Merrill Edge
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No 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
No No
Touch / Face ID
Yes Yes
Winner check_circle

Mobile App Features

Feature TradeStation Merrill Edge
Watch List Syncing
Yes Yes
Stock Alerts - Basic Fields
Yes Yes
Charting - After Hours
Yes Yes
Charting - Drawing
Yes Yes
Charting - Study Customizations
Yes Yes
Customizable Homescreen
No Yes
Heatmapping
No Yes
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 4.5 4.5
Winner check_circle

Research Overview

Feature TradeStation Merrill Edge
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
No Yes
Research - Pink Sheets / OTCBB
Yes Yes
Research - Fixed Income
No Yes
Screener - Stocks
Yes Yes
Screener - ETFs
No Yes
Screener - Mutual Funds
No Yes
Screener - Options
Yes Yes
Screener - Bonds
No Yes
Misc - Portfolio Builder
No Yes
Misc - Portfolio Allocation
No Yes
Research 1.5 4.5
Winner check_circle

Stock Research

Feature TradeStation Merrill Edge
Stock Research - Reports
0 3
Stock Research - Earnings
No Yes
Stock Research - Insiders
No Yes
Stock Research - Metric Comp
No Yes
Stock Research - SEC Filings
No Yes
Stock Research - Social
No No
Stock Research - Balance Sheet
No Yes
Stock Research - Cash Flows
No Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No Yes
Research 1.5 4.5
Winner check_circle

ETF Research

Feature TradeStation Merrill Edge
ETFs - Strategy Overview
No Yes
ETFs - Top 10 Holdings
No Yes
ETFs - Sector Exposure
No Yes
ETFs - Risk Analysis
No Yes
ETFs - Performance Analysis
No Yes
ETFs - Ratings
No Yes
ETFs - Morningstar StyleMap
No Yes
ETFs - Reports
No Yes
Research 1.5 4.5
Winner check_circle

Mutual Fund Research

Feature TradeStation Merrill Edge
Mutual Funds - Strategy Overview
No Yes
Mutual Funds - Prospectus
No Yes
Mutual Funds - Reports
No Yes
Mutual Funds - Fees Breakdown
No Yes
Mutual Funds - Top 10 Holdings
No Yes
Mutual Funds - Asset Allocation
No Yes
Mutual Funds - Sector Allocation
No Yes
Mutual Funds - Country Allocation
No Yes
Mutual Funds - StyleMap
No Yes
Mutual Funds - 3rd Party Ratings
No Yes
Research 1.5 4.5
Winner check_circle

Options Trading

Feature TradeStation Merrill Edge
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
32 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 4.5 4
Winner check_circle

Beginners

Feature TradeStation Merrill Edge
Has Education - Stocks
Yes Yes
Has Education - ETFs
No Yes
Has Education - Options
Yes Yes
Has Education - Mutual Funds
No Yes
Has Education - Fixed Income
No Yes
Has Education - Retirement
No Yes
Paper Trading
Yes No
Videos
Yes Yes
Webinars (Monthly Avg)
30 0
Webinars (Archived)
Yes No
Live Seminars
Yes Yes
Progress Tracking
No No
Interactive Learning - Quizzes
No Yes
Investor Magazine
Yes Yes
Education 3 4.5
Winner check_circle

Banking

Feature TradeStation Merrill Edge
Retail Locations
0 4400
Member FDIC
No Yes
Checking Accounts
No Yes
Savings Accounts
No Yes
Credit Cards
No Yes
Debit Cards
No Yes
Mortgage Loans
No Yes
No Fee Banking
No No
Banking 0.5 5
Winner check_circle

Overall

Feature TradeStation Merrill Edge
TradeStation Review Merrill Edge Review
Overall 3.5 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 TradeStation. Is Merrill Edge or TradeStation 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 more than TradeStation for placing regular stock trades ($6.95 and $5.00, respectively). Looking at trading options, TradeStation's base fee is $5.00 while Merrill Edge's is $6.95. Option contracts are pricier at Merrill Edge, costing $0.75 versus $0.50 at TradeStation. 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 supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Merrill Edge supports Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, TradeStation offers its clients access to 4357 different mutual funds while Merrill Edge has 3709 available funds, a difference of 648.

Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. TradeStation has virtual trading, Merrill Edge doesn't. For mobile trading, Both Merrill Edge and TradeStation 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. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Merrill Edge while TradeStation offers none of these.

Overall, between Merrill Edge and TradeStation, Merrill Edge is the winner.

Merrill Edge Review
TradeStation 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.

arrow_drop_upBack to top