Merrill Edge vs Charles SchwabMerrill Edge is an affordable online broker with robust research options for small to mid-size investors. How does it compare to Charles Schwab? Read our comparison chart below. 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. While 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. Compare Merrill Edge with Charles Schwab, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons. | SPECIAL OFFER Get $150 with New Merrill Edge Account - Learn MoreRead Merrill Edge Review | SPECIAL OFFER $0 Commissions on Online Stock, ETF, and Options Trades - Learn MoreRead Charles Schwab Review |
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| Benefits and Features |
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Stock Trading | $2.95 per trade | $0 commission on U.S. stocks and ETFs |
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Options Trading | $6.95 + $0.65 per contract | $0 + $0.65 per contract |
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Minimum Deposit | $0 | $0 |
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Mutual Fund Trading | $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 | $0 for no-transaction-fee funds $49.95 for all other funds |
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Commission Free ETFs | None | 2,000+ across asset classes and fund companies, $0 commission through Schwab ETF OneSourceā¢. |
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Broker Assisted Trades | $29.95 | $25.00 service charge |
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Customer Service | 24/7 | 24/7 |
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Inactivity Fee | None | None |
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Maintenance Fee | $0 | $0 |
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Banking | Through Bank of America | Yes |
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Mobile App | Yes | Yes |
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Desktop App | Yes | Yes |
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Forex Trading | No | |
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Futures Trading | No | $1.50 per contract |
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Locations | More than 2,100 Bank of America locations | 300 locations |
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Online Community | No | Yes |
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Seminars | Yes | Yes |
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Virtual Trading | No | No |
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| CreditDonkey® Reviews |
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Stock Trading |      |      |
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Options Trading |      |      |
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Mutual Fund Trading |      |      |
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Online Platform |      |      |
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Banking |      |      |
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Mobile App |      |      |
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Commissions and Fees |      |      |
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Ease of Use |      |      |
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Research |      |      |
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Pros & Cons | 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
| 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
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Bottom Line | Affordable online broker with robust research options for small to mid-size investors... Read full review | Good choice for beginning and advanced investors looking to invest in ETFs and mutual funds or investors that require extensive research... Read full review |
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Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Merrill Edge: Pricing information from published websites as of 12/07/2019. Charles Schwab: Pricing information from published websites as of 12/07/2019. | Which is Better: Merrill Edge or Charles Schwab?Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing Merrill Edge or Ally Invest. In short: Merrill Edge's mobile app and commissions and fees are noteworthy. In particular, the mobile app is impressive. Charles Schwab's mutual fund trading and online platform are notable. In particular, the online platform is excellent.
Articles on Merrill EdgeIf 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.
Articles on Charles SchwabCharles 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.
You Might Also LikeWhat is the best online brokerage accounts for beginners? Read this guide to find investing platforms for mutual funds, IRAs, day trading and more. The best online broker offers low fees, great customer service, and smart research tools. Find the best discount brokerage to consider.
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