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Merrill Edge vs TradeStation 2022

Is Merrill Edge better than TradeStation? After testing 15 of the best online brokers over six months, Merrill Edge (84.89%) is better than TradeStation (73.22%). 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.

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Overall Rating expand_moreexpand_less Merrill Edge TradeStation
Overall starstarstarstarstar_border starstarstarstarstar_border
Commissions & Fees starstarstarstarstar_border starstarstarstarstar_border
Investment Options starstarstarstarstar_border starstarstarstarstar_border
Platforms & Tools starstarstarstarstar_border starstarstarstarstar_border
Mobile Trading Apps starstarstarstarstar_border starstarstarstarstar_border
Research starstarstarstarstar_border starstarstar_borderstar_borderstar_border
Customer Service starstarstarstarstar_border starstarstar_borderstar_borderstar_border
Education starstarstarstarstar_border starstarstarstar_borderstar_border
Ease Of Use starstarstarstarstar_border starstarstarstarstar_border
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Review Merrill Edge Review TradeStation Review
Trading Fees expand_moreexpand_less Merrill Edge TradeStation
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Mutual Fund Trade Fee $19.95 $14.95
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.00
Futures (Per Contract) N/A $1.50
Broker Assisted Trade Fee $29.95 $0.00
Margin Rates expand_moreexpand_less Merrill Edge TradeStation
Margin Rate Under $24,999.99 8.63% 9.50%
Margin Rate $25,000.00 to $49,999.99 7.50% 9.50%
Margin Rate $50,000.00 to $99,999.99 7.50% 8.75%
Margin Rate $100,000.00 to $249,999.99 N/A 8.75%
Margin Rate $250,000.00 to $499,999.99 N/A 8.75%
Margin Rate $500,000.00 to $999,999.99 N/A 5.50%
Margin Rate Above $1,000,000.00 N/A 5.50%
Account Fees expand_moreexpand_less Merrill Edge TradeStation
IRA Annual Fee $0.00 $35.00
IRA Closure Fee $49.95 $50.00
Account Transfer Out (Partial) $0.00 $125.00
Account Transfer Out (Full) $49.95 $125.00
Options Exercise Fee 2.95 14.95
Options Assignment Fee 2.95 5.95
Investment Options expand_moreexpand_less Merrill Edge TradeStation
Stock Trading Yes Yes
Fractional Shares No No
OTCBB / Pink Sheets Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading No Yes
Forex Trading No No
Crypto Trading No Yes
Crypto Trading - Total Coins 0 4
Mutual Funds (No Load) 2952 887
Mutual Funds (Total) 3466 4357
Bonds (US Treasury) Yes Yes
Bonds (Corporate) Yes Yes
Bonds (Municipal) Yes Yes
Advisor Services Yes No
International Countries (Stocks) 0 0
Order Types expand_moreexpand_less Merrill Edge TradeStation
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 No Yes
Order Type - OTO No Yes
Order Type - Broker Assisted Yes Yes
Beginners expand_moreexpand_less Merrill Edge TradeStation
Education (Stocks) Yes Yes
Education (ETFs) Yes No
Education (Options) Yes Yes
Education (Mutual Funds) Yes No
Education (Bonds) Yes No
Education (Retirement) Yes No
Retirement Calculator Yes No
Investor Dictionary Yes No
Paper Trading No Yes
Videos Yes Yes
Webinars (Archived) Yes No
Progress Tracking No No
Interactive Learning - Quizzes Yes No
Stock Trading Apps expand_moreexpand_less Merrill Edge TradeStation
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 No Yes
Stock App Features expand_moreexpand_less Merrill Edge TradeStation
Market Movers (Top Gainers) Yes Yes
Stream Live TV No No
Videos on Demand No 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 No Yes
Watch Lists - Total Fields 285 335
Stock App Charting expand_moreexpand_less Merrill Edge TradeStation
Charting - After-Hours No Yes
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 34 45
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons Yes No
Trading Platforms expand_moreexpand_less Merrill Edge TradeStation
Desktop Trading Platform Yes Yes
Web Trading Platform Yes Yes
Paper Trading No Yes
Trade Journal No No
Watch Lists - Total Fields 285 335
Stock Chart Features expand_moreexpand_less Merrill Edge TradeStation
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 104 290
Charting - Drawing Tools 22 23
Charting - Notes Yes Yes
Charting - Index Overlays Yes Yes
Charting - Historical Trades Yes Yes
Charting - Corporate Events Yes No
Charting - Custom Date Range Yes Yes
Charting - Custom Time Bars Yes Yes
Charting - Automated Analysis Yes No
Charting - Save Profiles Yes Yes
Trade Ideas - Technical Analysis Yes Yes
Charting - Study Customizations 8 12
Charting - Custom Studies No Yes
Day Trading expand_moreexpand_less Merrill Edge TradeStation
Streaming Time & Sales Yes Yes
Streaming TV No No
Direct Market Routing - Stocks No Yes
Ladder Trading No Yes
Trade Hot Keys No Yes
Level 2 Quotes - Stocks Yes Yes
Trade Ideas - Backtesting Yes Yes
Trade Ideas - Backtesting Adv No Yes
Short Locator No Yes
Order Liquidity Rebates No Yes
Research Overview expand_moreexpand_less Merrill Edge TradeStation
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes No
Screener - Stocks Yes Yes
Screener - ETFs Yes No
Screener - Mutual Funds Yes No
Screener - Bonds Yes No
Misc - Portfolio Allocation Yes No
Stock Research expand_moreexpand_less Merrill Edge TradeStation
Stock Research - PDF Reports 3 0
Stock Research - Earnings Yes No
Stock Research - Insiders Yes No
Stock Research - Social No No
Stock Research - News Yes Yes
Stock Research - ESG Yes No
Stock Research - SEC Filings Yes No
ETF Research expand_moreexpand_less Merrill Edge TradeStation
ETFs - Strategy Overview Yes No
ETF Fund Facts - Inception Date Yes No
ETF Fund Facts - Expense Ratio Yes No
ETF Fund Facts - Net Assets Yes No
ETF Fund Facts - Total Holdings Yes No
ETFs - Top 10 Holdings Yes No
ETFs - Sector Exposure Yes No
ETFs - Risk Analysis Yes No
ETFs - Ratings Yes No
ETFs - Morningstar StyleMap Yes No
ETFs - PDF Reports Yes No
Mutual Fund Research expand_moreexpand_less Merrill Edge TradeStation
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart Yes No
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus Yes No
Mutual Funds - 3rd Party Ratings Yes No
Mutual Funds - Fees Breakdown Yes No
Mutual Funds - Top 10 Holdings Yes No
Mutual Funds - Asset Allocation Yes No
Mutual Funds - Sector Allocation Yes No
Mutual Funds - Country Allocation Yes No
Mutual Funds - StyleMap Yes No
Options Trading expand_moreexpand_less Merrill Edge TradeStation
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 68 32
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 No Yes
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
Banking expand_moreexpand_less Merrill Edge TradeStation
Bank (Member FDIC) Yes No
Checking Accounts Yes No
Savings Accounts Yes No
Credit Cards Yes No
Debit Cards Yes No
Mortgage Loans Yes No
Customer Service expand_moreexpand_less Merrill Edge TradeStation
Phone Support (Prospect Customers) Yes No
Phone Support (Current Customers) Yes No
Email Support Yes Yes
Live Chat (Prospect Customers) Yes No
Live Chat (Current Customers) Yes Yes
24/7 Support Yes No
Overall expand_moreexpand_less Merrill Edge TradeStation
Overall starstarstarstarstar_border starstarstarstarstar_border
Commissions & Fees starstarstarstarstar_border starstarstarstarstar_border
Investment Options starstarstarstarstar_border starstarstarstarstar_border
Platforms & Tools starstarstarstarstar_border starstarstarstarstar_border
Mobile Trading Apps starstarstarstarstar_border starstarstarstarstar_border
Research starstarstarstarstar_border starstarstar_borderstar_borderstar_border
Education starstarstarstarstar_border starstarstarstar_borderstar_border
Ease Of Use starstarstarstarstar_border starstarstarstarstar_border
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Merrill Edge vs TradeStation 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 Merrill Edge vs TradeStation.

Is Merrill Edge or TradeStation better for beginners?

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

What about Merrill Edge vs TradeStation pricing?

Merrill Edge and TradeStation charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Merrill Edge, costing $0.65 per contract versus $0.00 per contract at TradeStation. For a complete commissions summary, see our best brokers for free stock trading guide.

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

Merrill Edge offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Advisor Services, while TradeStation offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Futures Trading, neither have Fractional Shares and Forex Trading. Looking at Mutual Funds, TradeStation trails Merrill Edge in its offering of no transaction fee (NTF) mutual funds, with Merrill Edge offering 3095 and TradeStation offering 0.

Which trading platform is better: Merrill Edge or TradeStation?

To compare the trading platforms of Merrill Edge and TradeStation, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TradeStation offers a better experience. With research, Merrill Edge offers superior market research. Finally, we found TradeStation 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, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Merrill Edge while TradeStation offers neither of these.

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.

Is TradeStation good?

As a trading technology leader, TradeStation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades.

Merrill Edge vs TradeStation Winner

Overall winner: Merrill Edge

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