E*TRADE vs Merrill Edge compared

E*TRADE
Merrill Edge

E*TRADE

Key score differences
We took 8 criteria of our comparison (fee, account opening, customer service, markets&product, research, trading platform, deposit&withdrawal) and listed the angles with the greatest difference here below.
  • Customer service score1.7/5.0
  • Research score4.8/5.0
  • Account opening score4.2/5.0
Good to know
Recommended for
  • beginners 3.65/5
  • equity 4.32/5
You can open an account at E*TRADE

Merrill Edge

Key score differences
We took 8 criteria of our comparison (fee, account opening, customer service, markets&product, research, trading platform, deposit&withdrawal) and listed the angles with the greatest difference here below.
  • Customer service score4.0/5.0
  • Research score4.0/5.0
  • Account opening score5.0/5.0
Good to know
Recommended for
  • beginners 4.20/5
  • equity 4.37/5
You can open an account at Merrill Edge
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*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

Basic data of broker

Overall Score
4.7

Recommended for Investors and traders looking for solid research and a great mobile trading platform

Best IRA broker

Overall Score
4.8

Recommended for Investors and traders looking for low fees, quick account opening and simple platforms

Country of origin

USA

Country of origin

USA

Fees

Fees score
4.1
Fees score
4.4
Fees summary

Low trading and non-trading fees, high fund fees

Fees summary

Low trading and non-trading fees, high fund fees

Stock and ETF fees

Forex fees

Fund fees

Bond fees

Options fees

Futures fees

Crypto fees

CFD fees

Non-trading fees

Deposit and withdrawal

Deposit and withdrawal score
2.2
Deposit and withdrawal score
2.2
Number of base currencies

1

Number of base currencies

1

Deposit type

Withdrawal type

Account opening

Account opening score
4.2
Account opening score
5.0
Account opening fully online
Account opening fully online
Minimum deposit
*

$0

*
Minimum deposit
*

$0

*
Time to open account

1-3 days

Time to open account

1 day

Required documents

Proof of identity: SSN and national ID / passport / driver's license

Required documents

None for those with an IP address in the US; for those that don't--2 utility bills, drivers license, passport

Trading platform

Web platform score
4.5
Web platform score
4.3
Mobile platform score
4.5
Mobile platform score
4.8
Desktop platform score
-
Desktop platform score
4.3

Markets and products

Markets and products score
2.9
Markets and products score
2.5
Stocks
Stocks
Fractional shares
Fractional shares
ETFs
ETFs
Forex
Forex
Funds
Funds
Bonds
Bonds
Options
Options
Futures
Futures
Crypto
*
*
Crypto
CFDs
CFDs

Research, education

Research score
4.8
Research score
4.0
Charting quality

Great

Charting quality

Mid-range

Education score
2.4
Education score
3.5
Demo account
Demo account

Customer service

Customer service score
1.7
Customer service score
4.0
Phone
Phone
Live chat
Live chat
Email
Email
24/7 availability
24/7 availability

Security

Investor protection amount

$500,000 (securities up to $500,000, cash up to $250,000)

Investor protection amount

$500,000 (securities up to $500,000, cash up to $250,000)

Banking background
Banking background
Listed on stock exchange
Listed on stock exchange
Foundation date

1982

Foundation date

2010

Country of regulation

USA

Country of regulation

USA

E*TRADE

For detailed information and hands-on experience, read our review of this broker.

Merrill Edge

For detailed information and hands-on experience, read our review of this broker.

*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.

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.

E*TRADE's service is on par with Merrill Edge's and a comparison of their fees shows that E*TRADE's fees are similar to Merrill Edge's.

Account opening takes somewhat more effort at E*TRADE compared to Merrill Edge, deposit and withdrawal processes are about the same quality at E*TRADE, while customer service quality is lower than Merrill Edge's.

Our experts rated the trading platform of E*TRADE as being of the same quality as the platform of Merrill Edge, found that clients have access to about the same number of markets and products with E*TRADE, while Merrill Edge provides somewhat lower-quality research and education.

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