The StockBrokers.com 2017 Brokerage Review
assessed 16 different brokers over six months. This review compares Merrill Edge vs TradeStation Securities. Is Merrill Edge or TradeStation Securities 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 $6.95 per stock trade which is $1.95 more than TradeStation Securities which charges customers $5.00 per trade. For options trading, Merrill Edge has a base fee of $6.95, and TradeStation Securities a base fee of $5.00. Each option contract then costs $0.75 at Merrill Edge and $0.50 at TradeStation Securities. 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 Securities 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, Merrill Edge boasts an offering of 7649 mutual funds compared to TradeStation Securities's 4854 available funds. Commission free ETFs can also be a nice plus, which is a wash in this comparison as both Merrill Edge and TradeStation Securities offer 0 commission free ETFs.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. TradeStation Securities makes virtual trading available to clients, 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. 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 Securities offers 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 in 2017, while Merrill Edge came up with Best in Class - Research.
Overall, Merrill Edge takes the upper hand with 4.00 stars over TradeStation Securities's 3.50 stars.