Merrill Edge vs Charles Schwab

Merrill Edge vs Charles Schwab Comparison Table 2024
Merrill Edge Charles Schwab

Merrill Edge is a subsidiary of Bank of America and has been operating as an investment advisory firm since 2010. The firm offers a range of investment products spanning stocks, ETFs, bonds, funds and options via its trading platform, MarketPro. Merrill Edge is regulated by the SEC and FINRA in the US and offers its services to US clients only.

Charles Schwab is a large US investment broker offering a massive range of stocks, ETFs and equity derivatives in a variety of savings and investment accounts. The trustworthy brand has been offering financial services for 45+ years with over 35 million brokerage accounts and $870+ billion in assets under management. Charles Schwab is also regulated by top-tier watchdogs including the SEC and FCA.

Bonus Offer
$600 Transfer Bonus
Comment by Reviewer
"Based on my assessment, I recommend Merrill Edge to US traders looking for investment and savings accounts at a reputable and highly regulated stock broker. It's also a great choice if you want to pay zero commissions on US stocks and ETFs." "Charles Schwab will serve long-term investors looking for managed accounts, financial advice and self-directed trading opportunities. Fees are competitive, with zero-commission stock and ETF trading and no account minimums for individual brokerage accounts."
  • Overall, I think the MarketPro platform offers everything you need to trade US stocks, with access to advanced tools and indicators at no extra cost. I like that the platform can be fully customized too, with up to 25 saveable layouts
  • For those who are comfortable trading independently, I’m pleased to report that the broker’s self-directed account has no account fees or minimum balance requirements
  • It’s good to see that traders can access unlimited zero-commission stocks and options, making Merrill Edge a relatively low-cost broker for US clients
  • I feel very reassured that Merrill Edge is a highly established and well-regulated broker and I’m confident that clients can trade with peace of mind
  • I found an excellent range of investment options during my tests, covering a range of goals including retirement, healthcare or college savings
  • As an institution backed by the Bank of America, I’m pleased that the broker is able to offer margin in excess of $100,000 to traders
  • Strong investment offerings covering stocks, mutual funds, options, bonds and cryptocurrency
  • Powerful trading software with real-time quotes, fundamental research and investment screeners
  • Responsive customer support team available 24/7 via live chat or telephone
  • Competitive trading fees with no commissions on stocks and ETFs
  • Fractional shares on the S&P 500 with a $5 minimum investment
  • Thematic investing categories and ESG compliant portfolios
  • Strong regulatory oversight from the US SEC and UK FCA
  • No account minimums for individual brokerage accounts
  • High-quality educational resources for new investors
  • I found that the guided investment account comes with fairly high account management fees compared to others in the market. Even with the full 0.15% discount for holding over $100,000 in assets, I think this fee is still higher than competitors
  • I noted that transactions both to and from a Merrill Edge brokerage account cannot be made by credit or debit card, nor e-wallets. Traders are limited to bank wire transfers or cheque payments instead
  • It’s worth mentioning that traders looking to trade forex or cryptocurrencies should look elsewhere, as Merrill Edge only offers securities
  • I think it’s a shame that only US citizens are accepted at Merrill Edge, though this is common at US brokerages
  • Only US markets available (except 12 foreign markets on the Global Account)
  • High minimum investment of $5000 to use robo-advisors
  • Limited funding methods with no e-wallets
  • No email support
  • #1 for ESG & Sustainable Investing
  • #1 for Banking Services
  • #1 for Client Experience (Self-Directed)
Stocks, Mutual Funds, ETFs, Options, Bonds Stocks, ETFs, Cryptos, Futures, Options, Commodities, Bonds
Demo Account
No Yes
Minimum Deposit
$0 $0
Trading Platforms
  • MarketPro
  • Own
Payment Methods
Minimum Trade
0.01 Lots $1
Margin Trading
Yes No
Margin Rate
STP Account
No No
ECN Account
No No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No Yes
Robo Advisor
Yes Yes
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
iOS & Android iOS & Android
Auto Trading
Copy Trading
No No
Social Trading
No No
VPS Hosting
No No
No No
Demo Competitions
No No
Ethical Investing
Yes Yes
Custodial Account
Yes Yes
Guaranteed Stop Loss
No No
Islamic Account
No No
Account Currencies
  • USD
  • USD
Stock Exchanges
Crypto trading not offered Charles Schwab supports indirect crypto trading through digital coin trusts and crypto-related stocks. You can get exposure to popular digital currencies such as Bitcoin, Ripple and Ethereum.
  • GBTC
  • BITW
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
More Comparisons
Merrill Edge
Charles Schwab