Compare Charles Schwab vs Merrill Edge


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

Charles Schwab vs Merrill Edge
overall rating
4.8
4.7
overall pros
  • Free stock and ETF trading
  • Outstanding research
  • Great customer service
  • Low trading fees
  • Easy and seamless account opening
  • Strong parent company
overall cons
  • High fees for some mutual funds
  • Only US/Canada markets available
  • Limited to US clients and products
  • No demo account
  • Few options for deposit/withdrawal
fees
4.4
  • Free stock/ETF trading
  • Some mutual funds and bonds are free
  • Low non-trading fees
  • High fees for non-free mutual funds
4.4
  • Low trading fees
  • Low non-trading fees
  • Low stock and ETF fees / Free stock trading
  • High financing rate
account opening
4.4
  • Fast
  • Fully digital
  • No minimum deposit
  • $25,000 minimum deposit for non-US clients
5.0
  • Fast
  • Fully digital
  • No minimum deposit
  • Only US clients are accepted
deposit and withdrawal
2.2
  • No deposit fee
  • User-friendly
  • High fee for wire (bank transfer) withdrawals
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
4.3
  • User-friendly
  • Clear fee report
  • Price alerts
  • Limited customizability (for charts, workspace)
4.3
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • Limited customizability (for charts, workspace)
mobile trading platform
4.2
  • User-friendly
  • Touch/Face ID login
  • Order confirmation
  • No price alerts
4.8
  • User-friendly
  • Two-step (safer) login
  • Touch/Face ID login
  • Poor search function
desktop trading platform
4.0
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • Only for Windows
markets and products
3.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
  • Futures
2.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
research
4.3
  • Good interactive chart
  • Data on asset fundamentals
  • Trading ideas for stocks and ETFs
  • Hard to navigate among research tools
4.0
  • Trading ideas
  • Data on asset fundamentals
  • Quality news flow
  • Limited interactive charting
  • No/limited set of analytic tools
customer service
4.5
  • Phone support
  • Live chat
  • Fast response time
  • No email support
4.5
  • Phone support
  • Live chat
  • No email support
education
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Not well-structured
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
  • Banking background
  • No negative balance protection
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Banking background
  • No negative balance protection
recommended for Investors and traders looking for solid research, low fees and great customer service Investors and traders looking for low fees, quick account opening, and simple platforms
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