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Merrill Edge vs TradeStation Review

Blain Reinkensmeyer

Published by Blain Reinkensmeyer


Saturday, February 16th, 2019

Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 5,000 data points, let's compare Merrill Edge vs TradeStation Securities.

To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Merrill Edge charges $6.95 per stock trade which is $1.95 more than TradeStation Securities which charges customers $5.00 per trade. With options, the base fees charged are $6.95 (Merrill Edge) and $5.00 (TradeStation Securities). TradeStation Securities's per contract rate of $0.50 is less than Merrill Edge which charges $0.75. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.

Next to commission rates, being able to trade what you want is important. TradeStation Securities supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Merrill Edge supports Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Merrill Edge trails TradeStation Securities by 1,263 total mutual funds, with TradeStation Securities offering 4951 and Merrill Edge offering 3688. Commission free ETFs can also be valuable for customers, which for investors means access to 0 commission free ETFs at both brokers.

Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. TradeStation Securities makes virtual trading available to clients, while Merrill Edge does not. Taking a look at mobile trading, Merrill Edge along with TradeStation Securities both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Merrill Edge while customers at TradeStation Securities can have none of these. On the whole, when it comes to tools, research, and mobile trading, TradeStation Securities finished with awards Best in Class - Platforms & Tools, while Merrill Edge came up with none of these.

Overall, Merrill Edge boasts 4.50 stars versus TradeStation Securities's 4.00 stars.
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Overall
Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Ease of Use
Education
Order Execution
Banking
Minimum Deposit
Stock Trade Fee (flat)
Options Base Fee
Options Per Contract Fee
Mutual Fund Trade Fee
Broker Assisted Trades Fee
IRA Annual Fee
IRA Closure Fee
Stock Trading
OTCBB / Pink Sheets
Options Trading
Complex Options Max Legs
Futures Trading
Forex Trading
Commission-Free ETFs
Mutual Funds (No Load)
Mutual Funds (Total)
Bonds (US Treasury)
Bonds (Corporate)
Bonds (Municipal)
Advisor Services
International Trading
Advantage
Order Type - Market
Order Type - Limit
Order Type - Stop
Order Type - Trailing Stop
Order Type - Contingent
Order Type - MultiContingent
Order Type - OCO
Order Type - OTO
Order Type - OTOCO
Order Type - Algo
Advantage
Desktop Platform (Windows)
Desktop Platform (Mac)
Web Platform
Virtual Trading
Watch Lists - Total Fields
Two-Factor Authentication Login
Charting - Trade Off Chart
Charting - Drawing Tools
Charting - Indicators / Studies
Charting - Historical Trades
Charting - Save Profiles
Charting - Study Customizations
Charting - Custom Studies
Option Chains - Total Columns
Option Chains - Greeks Viewable
Option Analysis - P&L Charts
Option Positions - Rolling
Heat Mapping
Advantage
Stock Alerts - Basic Fields
Stock Alerts - Advanced Fields
Streaming Time & Sales
Streaming TV
Direct Market Routing - Stocks
Direct Market Routing - Options
Ladder Trading
Trade Hot Keys
Level 2 Quotes - Stocks
Level 2 Quotes - Options
Trade Ideas - Backtesting
Client Liquidity Rebates
Advantage
Research - Stocks
Research - ETFs
Research - Mutual Funds
Research - Pink Sheets / OTCBB
Research - Fixed Income
Research - Futures
Research - Forex
Screener - Stocks
Screener - ETFs
Screener - Mutual Funds
Screener - Options
Screener - Bonds
Misc - Portfolio Allocation
Misc - Portfolio Builder
Stock Research - Earnings
Stock Research - SEC Filings
Stock Research - Insiders
Stock Research - Social
Stock Research - Reports
ETF Research - Top 10 Holdings
ETF Research - Reports
ETF Research - Ratings
Mutual Fund Research - Reports
Advantage
iPhone App
Android App
Apple Watch App
Trading - Stocks
Trading - After-Hours
Trading - Conditional Orders
Trading - Mutual Funds
Trading - Simple Options
Trading - Complex Options
Trading - Option Rolling
Touch / Face ID
Watch List Syncing
Stock Alerts - Basic Fields
Stock Alerts - Advanced Fields
Charting - After Hours
Charting - Study Customizations
Customizable Homescreen
Heatmapping
Stream Live TV
Barcode Lookup
Advantage
Retail Locations
Member FDIC
Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
No Fee Banking
Advantage
Under $24,999.99
$25,000.00 to $49,999.99
$50,000.00 to $99,999.99
$100,000.00 to $249,999.99
$250,000.00 to $499,999.99
$500,000.00 to $999,999.99
Above $1,000,000.00
Has Education - Stocks
Has Education - ETFs
Has Education - Options
Has Education - Mutual Funds
Has Education - Fixed Income
Has Education - Retirement
Videos
Webinars (Monthly Avg)
Webinars (Archived)
Live Seminars
Progress Tracking
Interactive Learning - Quizzes
Magazine
Advantage
Overall
Advantage
Merrill Edge
Special Offer Invest in a new account and get up to $600 Learn More
Merrill Edge Review
 
4.5
4
3
4
4.5
4.5
4
4.5
4.5
3.5
5
 
$0.00
$6.95
$6.95
$0.75
$19.95
$29.95
$0.00
$49.95
 
Yes
Yes
Yes
2
No
No
0
2471
3709
Yes
Yes
Yes
Yes
No
 
Yes
Yes
Yes
Yes
No
No
No
No
No
No
 
Yes
Yes
Yes
No
285
Yes
Yes
22
95
Yes
Yes
8
No
69
5
Yes
No
Yes
 
Yes
Yes
Yes
No
No
No
No
Yes
Yes
Yes
Yes
No
 
Yes
Yes
Yes
Yes
Yes
No
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
3
Yes
Yes
Yes
Yes
check_circle
 
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
No
Yes
Yes
Yes
No
Yes
Yes
Yes
Yes
No
No
check_circle
 
4400
Yes
Yes
Yes
Yes
Yes
Yes
No
check_circle
 
10.63%
9.50%
9.50%
8.13%
8.13%
7.88%
7.25%
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
0
No
Yes
No
Yes
Yes
check_circle
 
4.5
check_circle
TradeStation
Special Offer Save up to $2 per trade for 60 days Learn More
Advertisement Advertisement
TradeStation Review
 
4
4
4
4.5
1.5
4.5
4
4
3
4.5
0.5
 
$500.00
$5.00
$5.00
$0.50
$14.95
$50.00
$35.00
$50.00
 
Yes
Yes
Yes
4
Yes
No
0
887
4357
Yes
Yes
Yes
No
No
check_circle
 
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
check_circle
 
Yes
No
Yes
Yes
335
Yes
Yes
23
282
Yes
Yes
12
Yes
32
5
Yes
Yes
No
check_circle
 
Yes
Yes
Yes
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
check_circle
 
Yes
Yes
No
Yes
No
Yes
Yes
Yes
No
No
Yes
No
No
No
No
No
No
No
0
No
No
No
No
 
Yes
Yes
No
Yes
Yes
Yes
No
Yes
Yes
No
Yes
Yes
Yes
No
Yes
Yes
No
No
No
No
 
0
No
No
No
No
No
No
No
 
9.25%
9.25%
8.50%
8.50%
8.50%
5.25%
5.25%
 
Yes
No
Yes
No
No
No
Yes
30
Yes
Yes
No
No
Yes
 
4

All pricing data was obtained from a published web site as of 09/01/18 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. 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.

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