Merrill Edge vs TD Ameritrade

Merrill Edge vs TD Ameritrade Comparison Table 2024
Merrill Edge TD Ameritrade
3.3

Merrill Edge is #35 in our broker rankings.

4

TD Ameritrade is #35 in our broker rankings.

United States Flag Traders from US accepted
United States Flag Traders from US accepted

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.

TD Ameritrade is a leading discount brokerage offering a vast range of instruments including forex, stocks, futures, options and crypto. The company has nearly 40 years of experience and authorization from the SEC, FINRA and CFTC. Trading takes place via its well-known thinkorswim platform, which offers sophisticated tools and features including stock screeners and calculators.

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." "Traders who want access to a huge range of stocks from a reputable broker with low fees should consider TD Ameritrade. On the downside, we miss access to the familiar MetaTrader 4 software."
Pros
  • 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
  • Advanced order types, including OCO and brackets
  • Automated trading capabilities, including robo-advisors
  • Several trading platforms including proprietary award-winning software
  • TD Ameritrade provides rich in-depth research and educational resources
  • Extended 24/7 trading hours allow for international access to the markets
  • The broker facilitates automatic syncing between desktop and mobile trading platforms
  • There is access to over 350 technical studies, 20 drawing tools and 8 Fibonacci tools
  • Active chat rooms to share ideas and communicate with thousands of experienced traders
  • The Economic Data tool allows access to a range of data about the health of global economies
  • Management Services and Essential Portfolios. Reviews of which show high levels of customer satisfaction
  • Portfolio margin gives some users increased leverage by basing margin requirements on total portfolio risk
Cons
  • 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
  • CFD trading not available
  • No MT4 or MT5 integration
  • Fractional shares are not offered
  • No direct cryptocurrency trading
  • Broker-assisted trade commissions are around $25
  • Stringent margin maintenance requirements and high fees
  • New traders may be overwhelmed by the vast amount of information and tools available
Awards
  • #1 for ESG & Sustainable Investing
  • #1 for Banking Services
  • #1 for Client Experience (Self-Directed)
  • Best Broker for Beginners 2022 - Investopedia Best Online Broker Awards
  • Best Online Broker for Stock Trading Platform and Research 2022 - NerdWallet's Best-Of Awards
  • #1 Platform & Tools, #1 Active Trading, #1 Options Trading, #1 Customer Service, and #1 Phone Support 2022 - StockBrokers.com Online Broker Review
Instruments
Stocks, Mutual Funds, ETFs, Options, Bonds Forex, Stocks, ETFs, Cryptos, Futures, Options, Commodities, Bonds
Demo Account
No Yes
Minimum Deposit
$0 $0
Trading Platforms
  • MarketPro
  • eSignal
  • AutoChartist
Payment Methods
Minimum Trade
0.01 Lots $0
Regulator
SEC, FINRA SEC, FINRA, CFTC
Margin Trading
Yes Yes
Margin Rate
8.625%
STP Account
No No
ECN Account
No No
DMA Account
No Yes
MAM Account
No Yes
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
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
App Review

TD Ameritrade offers currency trading via Android and iOS mobile and tablet apps. Users can speculate on over 75 currency pairs with low fees and advanced trading tools. Deposit funds and manage accounts in a few clicks.

Auto Trading
Yes - Auto trading available via bots
Copy Trading
No No
Social Trading
No No
Trade Signals
Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
Yes Yes
Custodial Account
Yes Yes
Guaranteed Stop Loss
No No
Inactivity Fee
$0
Islamic Account
No No
Account Currencies
  • USD
  • USD
Stock Exchanges
Commodities
Forex Trading
Forex trading not offered Trade 70+ forex pairs including majors, minors or exotics via the desktop, mobile or webtrader app with no commission and 1:2 leverage. The choice of currencies is wider than most forex brokers.
Forex App

TD Ameritrade offers currency trading via Android and iOS mobile and tablet apps. Users can speculate on over 75 currency pairs with low fees and advanced trading tools. Deposit funds and manage accounts in a few clicks.

GBPUSD Spread
Variable
EURUSD Spread
Variable
EURGBP Spread
Variable
Assets
75+
Cryptocurrency
Crypto trading not offered Gain exposure to cryptocurrency markets through OTC crypto trusts, mutual funds and ETFs and Bitcoin futures. This offers portfolio diversification opportunities and trading vehicles beyond standard crypto CFDs.
Spread
Commission fees apply
Coins
  • BTC
  • ETH
  • MBT
  • MET
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
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