Online brokers compared for fees, trading platforms, safety and more. See how Alpaca Trading stacks up against Merrill Edge!
Last update of data—Dec 2022
Alpaca Securities LLC is US-based broker providing commission-free API stock trading. The company is regulated by the top-tier SEC and FINRA:
Merrill Edge is a US-based broker owned by Bank of America (BofA). It is regulated by the top-tier SEC and FINRA; BofA is listed on the NYSE.
Recommended for traders interested in algorithmic stock trading.
Recommended for investors and traders looking for low fees, quick account opening and simple platforms.
Alpaca Trading
Alpaca Securities LLC is US-based broker providing commission-free API stock trading. The company is regulated by the top-tier SEC and FINRA:
Recommended for traders interested in algorithmic stock trading.
Merrill Edge
Merrill Edge is a US-based broker owned by Bank of America (BofA). It is regulated by the top-tier SEC and FINRA; BofA is listed on the NYSE.
Recommended for investors and traders looking for low fees, quick account opening and simple platforms.
Alpaca Trading's service is on par with Merrill Edge's and a comparison of their fees shows that Alpaca Trading's fees are similar to Merrill Edge's.
Account opening takes about the same effort at Alpaca Trading compared to Merrill Edge, deposit and withdrawal processes are somewhat more complicated at Alpaca Trading, while customer service quality is similar to Merrill Edge's.
Our experts rated the trading platform of Alpaca Trading as somewhat worse than the platform of Merrill Edge, found that clients have access to about the same number of markets and products with Alpaca Trading, while Merrill Edge provides somewhat lower-quality research and education.
Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.
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