Merrill Edge vs TradeStation 2025
In this head to head comparison of Merrill Edge vs TradeStation, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
In this head to head comparison of Merrill Edge vs TradeStation, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
When deciding between Merrill Edge and TradeStation for your investment needs, it's important to understand how each broker stacks up across their range of available options. Both are highly rated with 4.5 stars for range of investments, although TradeStation edges ahead slightly in StockBrokers.com's ranking at #5 compared to Merrill Edge's #7. However, this shouldn't detract from the excellent service each platform offers depending on your investment focus. Each platform offers a variety of services for traditional and Roth IRAs. Yet, Merrill Edge distinguishes itself with advisor services, which TradeStation does not provide, potentially guiding investors more effectively.
Both Merrill Edge and TradeStation provide a comprehensive selection for stock, margin, and options trading, as well as access to mutual funds and over-the-counter (OTC) stocks. Investors seeking a platform to delve into futures trading may lean towards TradeStation, as Merrill Edge does not offer this option. However, neither platform supports forex or cryptocurrency trading, keeping digital asset coverage at zero coins available for investment on both ends.
While Merrill Edge and TradeStation present similar offerings, there are nuanced differences that might appeal to specific investors. If you're seeking a platform with the advantage of professional advisory services, Merrill Edge would be the preferable choice. Conversely, if futures trading is a critical part of your strategy, TradeStation is the platform to consider. Even though neither offers fractional shares trading, both brokers have a solid foundation, allowing you a wide array of investment opportunities tailored to your financial goals.
Feature |
![]() |
|
---|---|---|
Stock Trading | Yes | Yes |
Account Feature - Margin Trading | Yes | Yes |
Fractional Shares (Stocks) | No | No |
OTC Stocks | Yes | Yes |
Mutual Funds | Yes | Yes |
Options Trading | Yes | Yes |
Futures Trading | No | Yes |
Crypto Trading | No | No |
Crypto Trading - Total Coins | 0 | 0 |
Range of Investments |
|
|
Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025: A Beginner-Friendly Guide to an Advanced Market
In a head-to-head comparison of trading platforms and tools, TradeStation slightly edges out Merrill Edge, securing a 4.5-star rating compared to Merrill Edge’s 4-star rating. This reflects TradeStation's advanced features and flexibility, while Merrill Edge still holds a solid position with robust offerings. Ranked third by StockBrokers.com, TradeStation is favored for its customizable options and extensive charting tools, whereas Merrill Edge ranks sixth, appealing to those who prefer streamlined functionalities.
For desktop applications, TradeStation offers a Windows-only downloadable platform, whereas Merrill Edge does not provide desktop downloads for either Windows or Mac users. However, both brokers deliver browser-based platforms, ensuring accessibility across devices without needing installations. TradeStation stands out with paper trading capabilities, giving users a risk-free environment to hone their trading skills, a feature absent in Merrill Edge.
Enthusiasts of charting will appreciate the range of technical indicators and customization options. TradeStation leads with 294 technical indicators and 12 customization fields for moving averages, compared to Merrill Edge's 105 indicators and eight fields. Both platforms allow traders to adjust open orders on charts, annotate with notes, and track historical trades and corporate events. They also provide the ability to save multiple chart profiles and perform automated technical analysis. However, only TradeStation supports the creation of custom studies, offering a deeper level of personalization for advanced traders.
Feature |
![]() |
|
---|---|---|
Web Trading Platform | Yes | Yes |
Desktop Trading Platform | No | Yes |
Desktop Platform (Mac) | No | No |
Paper Trading | No | Yes |
Watchlists - Total Fields | 285 | 341 |
Charting - Indicators / Studies | 105 | 294 |
Charting - Drawing Tools | 23 | 23 |
Platforms & Tools |
|
|
Dive deeper: Best Online Brokers & Trading Platforms for 2025, Best Paper Trading Apps & Platforms for 2025
When it comes to educational resources for beginners and investors, Merrill Edge stands out compared to TradeStation. Merrill Edge offers rich educational content across a range of investment products including stocks, ETFs, options, mutual funds, and bonds. In contrast, TradeStation provides education only for stocks and options, leaving a gap in resources for ETFs, mutual funds, and bonds. Both platforms offer educational videos and webinars, but Merrill Edge further enhances its offerings with interactive quizzes, aiding learners to test their knowledge effectively.
While Merrill Edge does not provide paper trading for hands-on practice, TradeStation does, making it a valuable tool for those seeking to apply theory in a risk-free environment. In terms of overall quality, Merrill Edge is rated higher, with a 4.5-star education rating compared to TradeStation's 3 stars. This is reflected in StockBrokers.com's rankings, where Merrill Edge is positioned at number 5 out of 14 brokers, whereas TradeStation lags behind at number 13. This emphasizes Merrill Edge's leadership in the realm of investor education, especially for those at the starting line of their investment journey.
Feature |
![]() |
|
---|---|---|
Education (Stocks) | Yes | Yes |
Education (ETFs) | Yes | No |
Education (Options) | Yes | Yes |
Education (Mutual Funds) | Yes | No |
Education (Fixed Income) | Yes | No |
Paper Trading | No | Yes |
Videos | Yes | Yes |
Webinars | Yes | Yes |
Education |
|
|
Dive deeper: Best Stock Trading Platforms for Beginners of 2025
When considering stock trading apps, Merrill Edge and TradeStation both offer compelling features, but they cater to slightly different needs. Both brokers provide iPhone and Android apps, however, neither supports Apple Watch integration. They offer essential functionality like mobile options trading, streaming quotes, and stock alerts. Despite these similarities, some distinctions may influence your choice: Merrill Edge excels with after-hours stock trading and advanced charting capabilities like viewing in landscape mode and displaying stock comparisons. On the other hand, TradeStation shines with customizable watch list columns and more extensive charting technical studies.
Merrill Edge’s mobile app proves to be quite user-friendly with a well-rounded suite of features that support active traders during and beyond market hours. Its app allows users to craft personalized watch lists, leverage after-hours trading, and access 34 technical studies for chart analysis. Notably, it supports viewing multiple time frames and comparing stocks directly on the charts, enhancing the user's trading insights. Although missing features like customizable watch list columns and after-hours charting, it ranks impressively at #6 out of 14 brokers on StockBrokers.com.
TradeStation's stock trading app presents a robust offering, with 45 technical studies available for more in-depth chart analysis. Users can customize watch list columns, a feature Merrill Edge lacks, which adds flexibility and personalization to trading activities. Although its app doesn't support landscape mode for charts or stock comparisons on charts, TradeStation impressively stands out with its robust after-hours charting capabilities. Despite its lower ranking at #8 by StockBrokers.com, TradeStation still earned a solid 4.5-star rating, which aligns with Merrill Edge’s rating, demonstrating its strength in stock trading app functionalities.
Feature |
![]() |
|
---|---|---|
iPhone App | Yes | Yes |
Android App | Yes | Yes |
Apple Watch App | No | No |
Stock Alerts | Yes | Yes |
Charting - After-Hours | No | Yes |
Charting - Technical Studies | 34 | 45 |
Mobile Trading Apps |
|
|
Dive deeper: Best Stock Trading Apps for 2025
In the Merrill Edge vs TradeStation fees matchup, both start strong with $0 minimum deposits and $0 stock trades. TradeStation is slightly cheaper for options contracts, but Merrill Edge often comes out ahead on extra charges: $0 for IRA annual fees, $0 for ACAT transfers, and $0 for options exercise and assignment. For margin, TradeStation lists 12.5% below $50,000 and 11.5% for $50,000–$99,999, while Merrill Edge’s rate varies by balance; check each broker’s current schedule to see what you’d pay.
Trading costs are straightforward. Stock trades are $0 at both brokers. Options contracts cost $0.65 per contract at Merrill Edge and $0.60 at TradeStation. If you trade options through expiration, Merrill Edge charges $0 for exercises and assignments, whereas TradeStation charges $14.95 to exercise and $5.95 for assignments.
On account and financing fees, TradeStation posts margin rates of 12.5% for balances under $25,000 and $25,000–$49,999, and 11.5% for $50,000–$99,999; Merrill Edge’s margin pricing varies. For IRAs, Merrill Edge has a $0 annual fee and $49.95 to close; TradeStation charges $35 annually and $50 to close. For account transfers (ACAT), Merrill Edge is $0 for partial or full transfers, while TradeStation is $125 for partial or full transfers.
Feature |
![]() |
|
---|---|---|
Minimum Deposit | $0.00 | $0.00 |
Stock Trades | $0.00 | $0.00 |
Options (Per Contract) | $0.65 | $0.60 |
Options Exercise Fee | $0.00 | $14.95 |
Options Assignment Fee | $0.00 | $5.95 |
IRA Annual Fee | $0.00 | $35.00 |
IRA Closure Fee | $49.95 | $50.00 |
Dive deeper: Best Free Trading Platforms for 2025
When it comes to day trading, Merrill Edge and TradeStation both offer notable features, but they cater to different types of traders. Merrill Edge provides streaming time and sales for stocks and level 2 quotes, both of which are essential for traders looking to analyze market depth and activity. It also offers basic strategy backtesting, helping traders refine their techniques. However, Merrill Edge lacks support for direct market routing, ladder trading, trading hotkeys, and advanced strategy backtesting, which are features that can enhance a trader's speed and effectiveness.
TradeStation is better equipped for high-frequency and more advanced day traders. It offers a comprehensive toolkit including streaming time and sales, level 2 quotes, and basic and advanced strategy backtesting. The platform stands out with its features like direct market routing, ladder trading, and trading hotkeys for quick and efficient trade execution. In addition, TradeStation provides a short locator tool for access to real-time information on shortable shares, as well as order liquidity rebates, appealing to traders focused on cost-effective market participation. While neither platform offers streaming live TV, TradeStation offers a more complete set of tools for active traders.
Feature |
![]() |
|
---|---|---|
Streaming Time & Sales | Yes | Yes |
Streaming TV | No | No |
Direct Market Routing - Equities | No | Yes |
Level 2 Quotes - Stocks | Yes | Yes |
Trade Ideas - Backtesting | Yes | Yes |
Trade Ideas - Backtesting Adv | No | Yes |
Short Locator | No | Yes |
Dive deeper: Best Day Trading Platforms of 2025 for Beginners and Active Traders
Bottom line: Merrill Edge is the stronger pick for market research. It earns 5 stars and ranks #5 out of 14 brokers at StockBrokers.com, while TradeStation gets 2 stars and ranks #11. If you want wide coverage, downloadable reports, and more ways to find ideas across stocks, ETFs, mutual funds, and bonds, Merrill Edge fits the bill. TradeStation can handle the basics for stocks and ETFs but trails in depth and variety.
Both brokers offer stock and ETF research, plus Pink Sheets/OTC data, and both let you view portfolio allocation by asset class. Where they part ways: Merrill Edge adds mutual fund and bond research and includes ESG insights, while TradeStation does not offer mutual fund or bond research and has no ESG research. Neither platform includes social media sentiment tools.
For tools, Merrill Edge supplies three downloadable PDF research reports for stocks and also provides PDFs for ETFs and mutual funds; TradeStation offers no downloadable reports. On screeners, each has stock and ETF screeners, but only Merrill Edge adds mutual fund and bond screeners. For investors comparing Merrill Edge vs. TradeStation on market research, Merrill Edge delivers broader coverage, more reports, and more screening options.
Feature |
![]() |
|
---|---|---|
Research - Stocks | Yes | Yes |
Screener - Stocks | Yes | Yes |
Research - ETFs | Yes | Yes |
Screener - ETFs | Yes | Yes |
Research - Mutual Funds | Yes | No |
Screener - Mutual Funds | Yes | No |
Research - Fixed Income | Yes | No |
Screener - Fixed Income | Yes | No |
Research |
|
|
When it comes to banking capabilities, Merrill Edge offers a more comprehensive range of services compared to TradeStation. Merrill Edge not only provides a suite of traditional banking features such as checking and savings accounts, but it also offers debit and credit cards for convenient spending. Customers looking to manage their finances can also take advantage of their mortgage loan options, making it a versatile choice for integrating banking and brokerage needs. Additionally, Merrill Edge offers Certificates of Deposit (CDs), which can be a valuable tool for those interested in saving with fixed returns. On the other hand, TradeStation does not provide any of these banking services—checking or savings accounts, debit or credit cards, mortgage loans, or CDs—and is more focused on trading functionalities without the integrated banking solutions that Merrill Edge provides.
Feature |
![]() |
|
---|---|---|
Checking Accounts | Yes | No |
Savings Accounts | Yes | No |
Debit Cards | Yes | No |
Credit Cards | Yes | No |
Mortgage Loans | Yes | No |
Brokerage CDs | Yes | No |
Dive deeper: Best Brokerage Checking Accounts for 2025
After opening live accounts and testing 14 of the best online brokers, our research and live account testing finds that Merrill Edge is better than TradeStation. Merrill Edge finished with an overall score of 92.7%, while TradeStation finished with a score of 80.2%.
Merrill Edge and its parent, Bank of America, make for a well-rounded offering, with $0 trades, robust research, reliable customer service; and its Stock Stories and Fund Stories are an industry standout. There are some gaps in investment offerings, including crypto and futures.
In the comparison of online brokers Merrill Edge and TradeStation, neither platform offers crypto trading, with both Merrill Edge and TradeStation providing access to zero cryptocurrencies.
Dive deeper: Best Online Brokers for Crypto Trading in 2025
Merrill Edge and TradeStation both provide traditional and Roth IRA accounts, with Merrill Edge charging no annual fee compared to TradeStation's $35.00 annual fee. While closing an IRA account incurs fees from both brokers, Merrill Edge's closure fee is slightly lower at $49.95 versus TradeStation's $50.00.
Dive deeper: Best IRA Accounts for 2025
Select Brokers
↓×Compare
0 of 5Overall Rating | Merrill Edge | TradeStation | |
---|---|---|---|
Overall |
|
| |
Range of Investments |
|
| |
Platforms & Tools |
|
| |
Mobile Trading Apps |
|
| |
Research |
|
| |
Customer Service |
|
| |
Education |
|
| |
Ease of Use |
|
| |
Winner | check_circle | ||
Review | Merrill Edge Review | TradeStation Review |
Broker Screenshots | Merrill Edge | TradeStation | |
---|---|---|---|
Broker Gallery (click to expand) |
Trading Fees | Merrill Edge | TradeStation | |
---|---|---|---|
Minimum Deposit | $0.00 | $0.00 | |
Stock Trades | $0.00 | $0.00 | |
Penny Stock Fees (OTC) | N/A | $0.01 | |
Mutual Fund Trade Fee | Varies | $14.95 | |
Options (Per Contract) | $0.65 | $0.60 | |
Futures (Per Contract) | (Not offered) | $1.50 | |
Broker Assisted Trade Fee | $29.95 | $25 |
Margin Rates | Merrill Edge | TradeStation | |
---|---|---|---|
Margin Rate Under $25,000 | Varies | 12.5% | |
Margin Rate $25,000 to $49,999.99 | Varies | 12.5% | |
Margin Rate $50,000 to $99,999.99 | Varies | 11.5% | |
Margin Rate $100,000 to $249,999.99 | Varies | 11.5% | |
Margin Rate $250,000 to $499,999.99 | Varies | 12.0% | |
Margin Rate $500,000 to $999,999.99 | Varies | 7.5% | |
Margin Rate Above $1,000,000 | Varies | 7.5% |
Account Fees | 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) | $0.00 | $125.00 | |
Options Exercise Fee | $0.00 | $14.95 | |
Options Assignment Fee | $0.00 | $5.95 |
Investment Options | Merrill Edge | TradeStation | |
---|---|---|---|
Stock Trading | Yes | Yes | |
Account Feature - Margin Trading | Yes | Yes | |
Fractional Shares (Stocks) | No | No | |
OTC Stocks | Yes | Yes | |
Options Trading | Yes | Yes | |
Complex Options Max Legs | 4 | 4 | |
Futures Trading | No | Yes | |
Forex Trading | No | No | |
Crypto Trading | No | No | |
Crypto Trading - Total Coins | 0 | 0 | |
Fixed Income (Treasurys) | Yes | Yes | |
Fixed Income (Corporate Bonds) | Yes | Yes | |
Fixed Income (Municipal Bonds) | Yes | Yes | |
Traditional IRAs | Yes | Yes | |
Roth IRAs | Yes | Yes | |
Advisor Services | Yes | No | |
International Countries (Stocks) | 0 | 0 |
Order Types | 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 | Merrill Edge | TradeStation | |
---|---|---|---|
Education (Stocks) | Yes | Yes | |
Education (ETFs) | Yes | No | |
Education (Options) | Yes | Yes | |
Education (Mutual Funds) | Yes | No | |
Education (Fixed Income) | Yes | No | |
Education (Retirement) | Yes | No | |
Retirement Calculator | Yes | No | |
Investor Dictionary | Yes | No | |
Paper Trading | No | Yes | |
Videos | Yes | Yes | |
Webinars | Yes | Yes | |
Progress Tracking | No | No | |
Interactive Learning - Quizzes | Yes | No |
Stock Trading Apps | Merrill Edge | TradeStation | |
---|---|---|---|
iPhone App | Yes | Yes | |
Android App | Yes | Yes | |
Apple Watch App | No | No | |
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 | Merrill Edge | TradeStation | |
---|---|---|---|
Mobile Research - Market Movers | Yes | Yes | |
Stream Live TV | No | No | |
Videos on Demand | No | No | |
Stock Alerts | Yes | Yes | |
Option Chains Viewable | Yes | Yes | |
Watchlist (Real-time) | Yes | Yes | |
Watchlist (Streaming) | Yes | Yes | |
Mobile Watchlists - Create & Manage | Yes | Yes | |
Mobile Watchlists - Column Customization | No | Yes |
Stock App Charting | Merrill Edge | TradeStation | |
---|---|---|---|
Charting - After-Hours | No | Yes | |
Charting - Can Turn Horizontally | Yes | No | |
Charting - Multiple Time Frames | Yes | Yes | |
Charting - Technical Studies | 34 | 45 | |
Charting - Study Customizations | Yes | Yes | |
Charting - Stock Comparisons | Yes | No |
Trading Platforms | Merrill Edge | TradeStation | |
---|---|---|---|
Active Trading Platform | Merrill Edge Market Pro | TradeStation 10 | |
Desktop Trading Platform | No | Yes | |
Desktop Platform (Mac) | No | No | |
Web Trading Platform | Yes | Yes | |
Paper Trading | No | Yes | |
Trade Journal | No | No | |
Watchlists - Total Fields | 285 | 341 |
Stock Chart Features | Merrill Edge | TradeStation | |
---|---|---|---|
Charting - Adjust Trades on Chart | Yes | Yes | |
Charting - Indicators / Studies | 105 | 294 | |
Charting - Drawing Tools | 23 | 23 | |
Charting - Notes | Yes | Yes | |
Charting - Historical Trades | Yes | Yes | |
Charting - Corporate Events | Yes | Yes | |
Charting - Custom Date Range | Yes | Yes | |
Charting - Custom Time Bars | Yes | Yes | |
Charting - Automated Analysis | Yes | Yes | |
Charting - Save Profiles | Yes | Yes | |
Trade Ideas - Technical Analysis | Yes | Yes | |
Charting - Study Customizations | 8 | 12 | |
Charting - Custom Studies | No | Yes |
Day Trading | Merrill Edge | TradeStation | |
---|---|---|---|
Streaming Time & Sales | Yes | Yes | |
Streaming TV | No | No | |
Direct Market Routing - Equities | 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 | Merrill Edge | TradeStation | |
---|---|---|---|
Research - Stocks | Yes | Yes | |
Research - ETFs | Yes | Yes | |
Research - Mutual Funds | Yes | No | |
Research - Pink Sheets / OTCBB | Yes | Yes | |
Research - Fixed Income | Yes | No | |
Screener - Stocks | Yes | Yes | |
Screener - ETFs | Yes | Yes | |
Screener - Mutual Funds | Yes | No | |
Screener - Fixed Income | Yes | No | |
Portfolio Asset Allocation | Yes | Yes |
Stock Research | Merrill Edge | TradeStation | |
---|---|---|---|
Stock Research - PDF Reports | 3 | 0 | |
Stock Research - Earnings | Yes | Yes | |
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 | Merrill Edge | TradeStation | |
---|---|---|---|
ETFs - Investment Objective | Yes | No | |
ETF Fund Facts - Inception Date | Yes | No | |
ETF Fund Facts - Expense Ratio | Yes | No | |
ETF Fund Facts - Total 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 | Merrill Edge | TradeStation | |
---|---|---|---|
Mutual Funds - Investment Objective | 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 | Yes | |
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 | Merrill Edge | TradeStation | |
---|---|---|---|
Option Chains - Total Greeks | 5 | 5 | |
Option Analysis - P&L Charts | Yes | Yes |
Banking | 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 | Merrill Edge | TradeStation | |
---|---|---|---|
Phone Support (Prospective Customers) | Yes | Yes | |
Phone Support (Current Customers) | Yes | Yes | |
Email Support | No | Yes | |
Live Chat (Prospective Customers) | Yes | Yes | |
Live Chat (Current Customers) | Yes | Yes | |
24/7 Support | Yes | No |
Overall | Merrill Edge | TradeStation | |
---|---|---|---|
Overall |
|
| |
Range of Investments |
|
| |
Platforms & Tools |
|
| |
Mobile Trading Apps |
|
| |
Research |
|
| |
Education |
|
| |
Ease of Use |
|
| |
Winner | check_circle | ||
Review | Merrill Edge Review | TradeStation Review |