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Charles Schwab vs Merrill Edge

Charles Schwab is a good choice for beginning and advanced investors looking to invest in ETFs and mutual funds or investors that require extensive research. How does it compare to Merrill Edge? Read our comparison chart below.

Charles Schwab offers stock and ETF trades at $0 commission and options trading at $0 commission + $0.65 per contract. There is no minimum deposit, no maintenance fee, and no inactivity fee.

While Merrill Edge (a subsidiary of Bank of America) offers stock trades at $2.95 standard fee per trade and options trading at $0 + $0.75 per contract. BofA customers can get 30 free trades a month if balance requirements are met. There is no account minimum, no maintenance fee, and no inactivity fee.

Compare Charles Schwab with Merrill Edge, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 

Charles Schwab

Merrill Edge

SPECIAL OFFER
$0 Commissions on Online Stock, ETF, and Options Trades - Learn More

Read Charles Schwab Review

SPECIAL OFFER
Get $150 with New Merrill Edge Account - Learn More

Read Merrill Edge Review

 

Benefits and Features

Stock Trading$0 commission on U.S. stocks and ETFs
$2.95 per trade
Options Trading
$0 + $0.65 per contract
$6.95 + $0.65 per contract
Minimum Deposit
$0
$0
Mutual Fund Trading$0 for no-transaction-fee funds $49.95 for all other funds$0 for no load, no-transaction-fee funds ($39.95 short-term redemption fee if the fund is held less than 90 days) $19.95 for no load, transaction-fee funds
Commission Free ETFs2,000+ across asset classes and fund companies, $0 commission through Schwab ETF OneSourceā„¢.
None
Broker Assisted Trades
$25.00 service charge
$29.95
Customer Service
24/7
24/7
Inactivity Fee
None
None
Maintenance Fee
$0
$0
Banking
Yes
Through Bank of America
Mobile App
Yes
Yes
Desktop App
Yes
Yes
Forex Trading 
No
Futures Trading
$1.50 per contract
No
Locations
300 locations
More than 2,100 Bank of America locations
Online Community
Yes
No
Seminars
Yes
Yes
Virtual Trading
No
No
 

CreditDonkey® Reviews

Stock Trading
Options Trading
Mutual Fund Trading
Online Platform
Banking
Mobile App
Commissions and Fees
Ease of Use
Research
Pros & ConsPros:
  • Vast selection of commission-free ETFs and mutual funds
  • 2 platforms (one for beginners and one for advanced traders)
  • 24/7 customer service including online chat
Cons:
  • Commission costs on mutual funds outside of the commission-free funds
  • Robo-advisor option requires a minimum investment of $5,000
Pros:
  • No account minimums
  • Current Bank of America customers experience seamless account integration
  • Robust research opportunities
Cons:
  • Platform is not friendly for frequent traders who execute quick trades
  • No commission-free ETFs available
  • Market research reports can be hard for beginners to understand
Bottom LineGood choice for beginning and advanced investors looking to invest in ETFs and mutual funds or investors that require extensive research... Read full reviewAffordable online broker with robust research options for small to mid-size investors... Read full review

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Charles Schwab: Pricing information from published websites as of 12/07/2019.

Merrill Edge: Pricing information from published websites as of 12/07/2019.

Which is Better: Charles Schwab or Merrill Edge?

Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing Charles Schwab or Ally Invest.

In short: Charles Schwab's mutual fund trading and online platform are notable. In particular, the online platform is excellent. Merrill Edge's mobile app and commissions and fees are noteworthy. In particular, the mobile app is impressive.


Articles on Charles Schwab


Articles on Merrill Edge


Which Do You Think is Best?


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