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	$0 per trade
Options Trading	$0 + $0.65 per contract	$0 + $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 ETFs	2,000+ across asset classes and fund companies, $0 commission through Schwab ETF OneSource™.	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 & Cons	Pros: 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 Line	Good choice for beginning and advanced investors looking to invest in ETFs and mutual funds or investors that require extensive research... Read full review	Affordable online broker with robust research options for small to mid-size investors... Read full review
	$0 Commissions on Online Stock, ETF, and Options Trades 500 Commission-Free Online and Options Trades New Schwab Client - $100 Bonus	Get $150 with New Merrill Edge Account Get $225 with New Merrill Edge Account Get $375 with New Merrill Edge Account
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 04/05/2020. Merrill Edge: Pricing information from published websites as of 04/05/2020.

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

Charles Schwab
Charles Schwab is one of the oldest names in the world of investing. With low fees, no account minimums, and robust research tools, it's a good brokerage for all levels of investors.
• Charles Schwab vs Fidelity
• Charles Schwab vs Vanguard
• Charles Schwab vs E*TRADE

Articles on Merrill Edge

Merrill Edge
If you are looking for excellent customer service, competitive pricing, and robust investment options, you may have found what you are looking for in Merrill Edge.
• Merrill Edge vs TD Ameritrade
• Merrill Edge vs Ally Invest
• Merrill Edge vs Wealthfront

Which Do You Think is Best?

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