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Merrill Edge vs Vanguard 2023

StockBrokers.com

Written by StockBrokers.com

April 11, 2023

Is Merrill Edge better than Vanguard? After testing 17 of the best online brokers over three months, Merrill Edge (95.25%) is better than Vanguard (71.94%). 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.

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Compare

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Overall RatingMerrill EdgeVanguard
Overall 5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 5/5 Stars 2/5 Stars
Research 5/5 Stars 2.5/5 Stars
Customer Service 4.0/5 Stars 3/5 Stars
Education 5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review Merrill Edge Review Vanguard Review
Trading FeesMerrill EdgeVanguard
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) N/A $0.00
Mutual Fund Trade Fee $19.95 Varies
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $1.00
Futures (Per Contract) N/A N/A
Broker Assisted Trade Fee $29.95 $25
Margin RatesMerrill EdgeVanguard
Margin Rate Under $25,000 Varies 13.25% info
Margin Rate $25,000 to $49,999.99 Varies 12.75%
Margin Rate $50,000 to $99,999.99 Varies 12.25%
Margin Rate $100,000 to $249,999.99 Varies 11.75%
Margin Rate $250,000 to $499,999.99 Varies 11.25%
Margin Rate $500,000 to $999,999.99 Varies 10.00%
Margin Rate Above $1,000,000 Varies Varies info
Account FeesMerrill EdgeVanguard
IRA Annual Fee $0.00 $20.00
IRA Closure Fee $49.95 $0.00
Account Transfer Out (Partial) $0.00 $0.00
Account Transfer Out (Full) $49.95 $0.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment OptionsMerrill EdgeVanguard
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares No No
OTC Stocks Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading No No
Forex Trading No No
Crypto Trading No No
Crypto Trading - Total Coins 0 0
Mutual Funds (No Load) 2952 N/A
Mutual Funds (Total) 3466 N/A
Bonds (US Treasury) Yes Yes
Bonds (Corporate) Yes Yes
Bonds (Municipal) Yes Yes
Advisor Services Yes Yes
International Countries (Stocks) 0 0
Order TypesMerrill EdgeVanguard
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 No
Order Type - OCO No No
Order Type - OTO No No
Order Type - Broker Assisted Yes Yes
BeginnersMerrill EdgeVanguard
Education (Stocks) Yes Yes
Education (ETFs) Yes No
Education (Options) Yes No
Education (Mutual Funds) Yes No
Education (Bonds) Yes No
Education (Retirement) Yes Yes
Retirement Calculator Yes Yes
Investor Dictionary Yes No
Paper Trading No No
Videos Yes Yes
Webinars Yes No
Webinars (Archived) Yes No
Progress Tracking No No
Interactive Learning - Quizzes Yes No
Stock Trading AppsMerrill EdgeVanguard
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes No
Trading - Stocks Yes Yes
Trading - After-Hours Yes No
Trading - Simple Options Yes No
Trading - Complex Options Yes No
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes No No
SB Gallery - Mobile Apps
Stock App FeaturesMerrill EdgeVanguard
Market Movers (Top Gainers) Yes No
Stream Live TV No No
Videos on Demand No No
Stock Alerts Yes No
Option Chains Viewable Yes No
Watch List (Real-time) Yes No
Watch List (Streaming) Yes No
Watch Lists - Create & Manage Yes No
Watch Lists - Column Customization No No
Watch Lists - Total Fields 285 9
Stock App ChartingMerrill EdgeVanguard
Charting - After-Hours No No
Charting - Can Turn Horizontally Yes No
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 34 0
Charting - Study Customizations Yes No
Charting - Stock Comparisons Yes No
Trading PlatformsMerrill EdgeVanguard
Active Trading Platform Merrill Edge Market Pro N/A
Desktop Trading Platform No No
Desktop Platform (Mac) No No
Web Trading Platform Yes Yes
Paper Trading No No
Trade Journal No No
Watch Lists - Total Fields 285 9
Stock Chart FeaturesMerrill EdgeVanguard
Charting - Adjust Trades on Chart Yes No
Charting - Indicators / Studies 104 9
Charting - Drawing Tools 23 0
Charting - Notes Yes No
Charting - Index Overlays Yes Yes
Charting - Historical Trades Yes No
Charting - Corporate Events Yes Yes
Charting - Custom Date Range Yes No
Charting - Custom Time Bars Yes No
Charting - Automated Analysis Yes No
Charting - Save Profiles Yes No
Trade Ideas - Technical Analysis Yes No
Charting - Study Customizations 8 1
Charting - Custom Studies No No
Day TradingMerrill EdgeVanguard
Streaming Time & Sales Yes No
Streaming TV No No
Direct Market Routing - Stocks No No
Ladder Trading No No
Trade Hot Keys No No
Level 2 Quotes - Stocks Yes No
Trade Ideas - Backtesting Yes No
Trade Ideas - Backtesting Adv No No
Short Locator No No
Order Liquidity Rebates No No
Research OverviewMerrill EdgeVanguard
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes Yes
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes Yes
Screener - Stocks Yes Yes
Screener - ETFs Yes Yes
Screener - Mutual Funds Yes Yes
Screener - Bonds Yes Yes
Misc - Portfolio Allocation Yes Yes
Stock ResearchMerrill EdgeVanguard
Stock Research - PDF Reports 3 2
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 ResearchMerrill EdgeVanguard
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 ResearchMerrill EdgeVanguard
Mutual Funds - Strategy Overview Yes Yes
Mutual Funds - Performance Chart Yes Yes
Mutual Funds - Performance Analysis Yes Yes
Mutual Funds - Prospectus Yes Yes
Mutual Funds - 3rd Party Ratings Yes No
Mutual Funds - Fees Breakdown Yes Yes
Mutual Funds - Top 10 Holdings Yes Yes
Mutual Funds - Asset Allocation Yes No
Mutual Funds - Sector Allocation Yes Yes
Mutual Funds - Country Allocation Yes No
Mutual Funds - StyleMap Yes Yes
Options TradingMerrill EdgeVanguard
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes No
Option Chains - Streaming Yes No
Option Chains - Total Columns 68 9
Option Chains - Greeks 5 0
Option Chains - Quick Analysis Yes No
Option Analysis - P&L Charts Yes No
Option Probability Analysis Yes No
Option Probability Analysis Adv No No
Option Positions - Greeks Yes No
Option Positions - Greeks Streaming Yes No
Option Positions - Adv Analysis Yes No
Option Positions - Rolling Yes No
Option Positions - Grouping Yes No
BankingMerrill EdgeVanguard
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 ServiceMerrill EdgeVanguard
Phone Support (Prospect Customers) No Yes
Phone Support (Current Customers) Yes Yes
Email Support Yes Yes
Live Chat (Prospect Customers) Yes No
Live Chat (Current Customers) Yes No
24/7 Support Yes No
OverallMerrill EdgeVanguard
Overall 5/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 5/5 Stars 2/5 Stars
Research 5/5 Stars 2.5/5 Stars
Education 5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 5/5 Stars
Winner check_circle
Review Merrill Edge Review Vanguard Review
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Merrill Edge vs Vanguard Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Merrill Edge vs Vanguard.

Is Merrill Edge or Vanguard better for beginners?

Merrill Edge offers more comprehensive new investor education for beginner investors than Vanguard. Merrill Edge offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while Vanguard offers investors access to Videos, Education (Stocks) and Education (Retirement). Neither have Paper Trading. See our guide to Best Paper Trading Platforms for more.

What about Merrill Edge vs Vanguard pricing?

Merrill Edge and Vanguard charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Vanguard, costing $1.00 per contract versus $0.65 per contract at Merrill Edge. For a complete commissions summary, see our best brokers for free stock trading guide.

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

Both Merrill Edge and Vanguard offer Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Advisor Services. Neither have Fractional Shares, Futures Trading and Forex Trading. Looking at Mutual Funds, Vanguard trails Merrill Edge in its offering of no transaction fee (NTF) mutual funds, with Merrill Edge offering 3095 and Vanguard offering .

Which trading platform is better: Merrill Edge or Vanguard?

To compare the trading platforms of Merrill Edge and Vanguard, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Merrill Edge offers a better experience. With research, Merrill Edge offers superior market research. Finally, we found Merrill Edge 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 Vanguard offers neither of these.

Is Merrill Edge good?

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.

Is Vanguard good?

Vanguard is aimed squarely at buy-and-hold investors, and its platform reflects that focus. Vanguard is known for its low-cost funds, and the investment platform is really built for those looking to invest solely in mutual funds and ETFs.

Merrill Edge vs Vanguard Winner

Overall winner: Merrill Edge

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