Compare Alpaca Trading vs Merrill Edge


Online brokers compared for fees, trading platforms, safety and more. See how Alpaca Trading stacks up against Merrill Edge!

Alpaca Trading vs Merrill Edge
overall rating
4.6
4.8
overall pros
  • Great API trading service
  • Free stock & ETFs
  • Fantastic charting tools
  • Low trading fees
  • Easy and seamless account opening
  • Strong parent company
overall cons
  • Customer support limited to email
  • Limited deposit and withdrawal options
  • Only US stocks and ETFs available
  • Limited to US clients and products
  • No demo account
  • Limited options to deposit/withdraw
fees
4.9
  • Commission-Free Stock and ETF Trading
  • No inactivity fee
  • No withdrawal fee
4.4
  • Low trading fees
  • Low non-trading fees
  • Low stock and ETF fees
  • High financing rate
account opening
4.8
  • Fast
  • Fully digital
  • No minimum deposit
  • Bit complex process for integrating third-party tools
5.0
  • Fast
  • Fully digital
  • No minimum deposit
  • Only US clients are accepted
deposit and withdrawal
1.8
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Only one account base currency
  • High withdrawal fee for wire transfers
2.2
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Only one account base currency
  • Slow withdrawal - over 3 days
web trading platform
3.7
  • User-friendly
  • Two-step (safer) login
  • Modern design
  • No price alerts
  • Limited customizability
  • Limited search function
4.3
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • Limited customizability (for charts, workspace)
mobile trading platform
4.2
  • User-friendly
  • Two-step (safer) login
  • Order confirmation
  • Poor search function
  • No price alerts
  • No Touch/Face ID login
4.8
  • User-friendly
  • Two-step (safer) login
  • Touch/Face ID login
  • Poor search function
desktop trading platform
  • Limited order types
markets and products
2.0
  • Stock
  • ETF
2.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
research
5.0
  • Access to highly functional API
  • Great charting tools
  • Data on asset fundamentals
  • No trading ideas
4.0
  • Trading ideas
  • Data on asset fundamentals
  • Quality news flow
  • Limited interactive charting
  • No/limited set of analytic tools
customer service
1.9
  • Great Slack and community forums
  • Email support
  • No phone support
  • No live chat
  • Mediocre email support
4.5
  • Phone support
  • Live chat
  • No email support
education
4.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • No webinars
3.5
  • Trading platform tutorial
  • Educational videos
  • No demo account
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Does not hold a banking license
  • Not listed on stock exchange
  • Financial information is not publicly available
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Banking background
  • No negative balance protection
recommended for Traders interested in algorithmic stock trading Investors and traders who looking for low fees, quick account opening, and simple platforms
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