Online brokers compared for fees, trading platforms, safety and more. See how Charles Schwab stacks up against Merrill Edge!
Last update of data—Dec 2021
Charles Schwab is a US discount broker, regulated by top-tier US authorities the SEC and FINRA. The company is listed on the New York Stock Exchange and holds a banking license.
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 solid research, low fees and great customer service.
Recommended for investors and traders looking for low fees, quick account opening, and simple platforms.
Charles Schwab
Charles Schwab is a US discount broker, regulated by top-tier US authorities the SEC and FINRA. The company is listed on the New York Stock Exchange and holds a banking license.
Recommended for investors and traders looking for solid research, low fees and great customer service.
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.
Charles Schwab's service is on par with Merrill Edge's and a comparison of their fees shows that Charles Schwab's fees are similar to Merrill Edge's.
Account opening takes somewhat more effort at Charles Schwab compared to Merrill Edge, deposit and withdrawal processes are about the same quality at Charles Schwab, while customer service quality is somewhat better than Merrill Edge's.
Our experts rated the trading platform of Charles Schwab as somewhat worse than the platform of Merrill Edge, found that clients have access to slightly more markets and products with Charles Schwab, while Merrill Edge provides just about the same quality of 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.
Brokers displayed might not be available in United States.
More alternatives to Charles Schwab and Merrill Edge