Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare Merrill Edge vs TradeStation Securities to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. Merrill Edge charges more than TradeStation Securities for placing regular stock trades ($6.95 and $5.00, respectively). For options trading, Merrill Edge has a base fee of $6.95, and TradeStation Securities a base fee of $5.00. Option contracts are pricier at Merrill Edge, costing $0.75 versus $0.50 at TradeStation Securities. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. TradeStation Securities provides its clients with Stock Trading, Options Trading, Mutual Funds and Futures Trading while Merrill Edge provides clients access to Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, TradeStation Securities boasts an offering of 4951 mutual funds compared to Merrill Edge's 3688 available funds. And, commission free ETFs deserve a comparison, which in this case means trading a possible 0 commission free ETFs at both brokers.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. TradeStation Securities offers virtual trading while Merrill Edge does not. For mobile trading, Both Merrill Edge and TradeStation Securities offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Merrill Edge while TradeStation Securities offers none of these. All factors considered, when it comes to platform tools, research, and mobile trading, TradeStation Securities was rated Best in Class - Platforms & Tools, while Merrill Edge was rated none of these.
Overall, Merrill Edge takes the upper hand with 4.50 stars over TradeStation Securities's 4.00 stars.