Interactive Brokers vs Merrill Edge 2025
In this head to head comparison of Interactive Brokers vs Merrill Edge, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
In this head to head comparison of Interactive Brokers vs Merrill Edge, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
When evaluating the investment options available through Interactive Brokers versus Merrill Edge, it's clear that each platform has its unique strengths. Interactive Brokers stands out with a perfect 5-star rating and the number one rank for range of investments according to StockBrokers.com, while Merrill Edge closely follows with a 4.5-star rating and seventh rank. If you're looking for broad investment offerings, Interactive Brokers might be your choice, especially for access to crypto and forex markets, which Merrill Edge does not offer. Meanwhile, Merrill Edge shines with integrated advisor services, which could appeal to those seeking financial guidance.
Both Interactive Brokers and Merrill Edge offer a variety of common investment options such as stock trading, margin trading, mutual funds, and options trading. However, where they differ lies in the availability of fractional shares and certain specific markets. Interactive Brokers offers fractional share trading and a wider range of international investments, which could be a significant advantage for those keen on diversifying their investments globally. Merrill Edge, while not offering fractional shares, maintains a solid foundation with traditional stock and options markets, along with access to OTC stocks.
For investors interested in diversifying their portfolios with cryptocurrencies, Interactive Brokers provides the opportunity to trade 11 different coins, a feature not available with Merrill Edge. Furthermore, Interactive Brokers supports futures and forex trading, which may appeal to more seasoned traders looking for diverse investment strategies. On the other hand, Merrill Edge, backed by Bank of America, offers a seamless integration with existing bank accounts and exclusive advisor services that might benefit those looking for personalized investment strategies.
Feature |
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Stock Trading | Yes | Yes |
Account Feature - Margin Trading | Yes | Yes |
Fractional Shares (Stocks) | Yes | No |
OTC Stocks | Yes | Yes |
Mutual Funds | Yes | Yes |
Options Trading | Yes | Yes |
Futures Trading | Yes | No |
Crypto Trading | Yes | No |
Crypto Trading - Total Coins | 11 | 0 |
Range of Investments |
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Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025: A Beginner-Friendly Guide to an Advanced Market
When it comes to online trading platforms, Interactive Brokers generally holds a slight edge over Merrill Edge, especially for more advanced traders. Interactive Brokers offers both Windows and Mac desktop applications, a feature absent in Merrill Edge, which only provides a browser-based platform. This flexibility, paired with additional offerings like paper trading and a trading journal, makes Interactive Brokers a more versatile choice for traders seeking comprehensive tools. Both platforms do offer browser-based trading and allow users to adjust open orders on stock charts.
If you're looking for charting capabilities, both Interactive Brokers and Merrill Edge provide robust features, although Interactive Brokers offers more options. With 155 technical indicators and 85 drawing tools compared to Merrill Edge’s 105 indicators and 23 drawing tools, Interactive Brokers caters more to those who require extensive charting options. Both platforms allow traders to show historical trades, display corporate events, and utilize automated technical analysis on charts, but only Merrill Edge offers more customizability in SMA studies with 8 fields versus Interactive Brokers’ 6. However, neither platform supports the creation of custom studies for charts.
Overall, the decision between Interactive Brokers and Merrill Edge should be based on specific trader needs. For a more feature-rich desktop experience and extensive charting options, Interactive Brokers is the ideal selection, reflected in its higher rating of 5 stars and a higher rank of #2 out of 14 brokers for trading platforms and tools per StockBrokers.com. Merrill Edge, with its 4-star rating and #6 rank, still provides a solid trading experience, but may appeal more to those looking for a simpler, browser-only platform.
Feature |
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Web Trading Platform | Yes | Yes |
Desktop Trading Platform | Yes | No |
Desktop Platform (Mac) | Yes | No |
Paper Trading | Yes | No |
Watch Lists - Total Fields | 659 | 285 |
Charting - Indicators / Studies | 155 | 105 |
Charting - Drawing Tools | 85 | 23 |
Platforms & Tools |
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Dive deeper: Best Online Brokers & Trading Platforms for 2025, Best Paper Trading Apps & Platforms for 2025
Interactive Brokers and Merrill Edge both offer comprehensive educational resources for beginners and investors. Each platform provides a variety of learning materials, including stock, ETF, options, mutual fund, and bond education, as well as educational videos, webinars, and quizzes. While both brokers equip users with necessary tools to understand the market, Interactive Brokers distinguishes itself by offering paper trading and the ability to track learning progress—features that Merrill Edge does not provide.
When evaluated by StockBrokers.com, Interactive Brokers ranks third out of fourteen for its education offerings, receiving a perfect five-star rating. Merrill Edge, on the other hand, ranks fifth with a solid 4.5-star rating. Both platforms have their strengths, but those seeking an interactive learning experience might find Interactive Brokers slightly more advantageous due to its additional features.
Feature |
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Education (Stocks) | Yes | Yes |
Education (ETFs) | Yes | Yes |
Education (Options) | Yes | Yes |
Education (Mutual Funds) | Yes | Yes |
Education (Fixed Income) | Yes | Yes |
Paper Trading | Yes | No |
Videos | Yes | Yes |
Webinars | Yes | Yes |
Education |
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Dive deeper: Best Stock Trading Platforms for Beginners of 2025
When comparing Interactive Brokers and Merrill Edge for their stock trading app capabilities, both platforms offer strong features for traders, but Interactive Brokers takes a slight edge. With a perfect 5-star rating, Interactive Brokers stands out with its extensive app support, including iPhone, Android, and Apple Watch, as well as advanced features like mobile after-hours trading, streaming live TV, and numerous technical studies for charting. Meanwhile, Merrill Edge, although highly rated at 4.5 stars, lacks some of these advanced capabilities, such as an Apple Watch app and streaming live TV, earning it a slightly lower ranking at #6 compared to Interactive Brokers' #2 spot according to StockBrokers.com.
Both Interactive Brokers and Merrill Edge provide essential features like mobile apps for iPhone and Android, stock alerts, and custom watch lists, ensuring a solid trading experience. However, Interactive Brokers' app goes further by allowing users to customize watch list columns and providing after-hours charting, options unavailable in Merrill Edge's app. Moreover, with 97 technical studies for charting, Interactive Brokers caters to more in-depth analysis than Merrill Edge’s 34 studies.
Interactive Brokers also enhances the user experience with options such as streaming quotes, videos on demand, and the ability to view charts in landscape mode or across multiple time frames. Although Merrill Edge offers some unique features, like the ability to display stock comparisons on charts, it misses out on some of the more advanced functionalities that Interactive Brokers users enjoy. Overall, for those seeking a comprehensive and feature-rich mobile trading experience, Interactive Brokers may be the more attractive option.
Feature |
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iPhone App | Yes | Yes |
Android App | Yes | Yes |
Apple Watch App | Yes | No |
Stock Alerts | Yes | Yes |
Charting - After-Hours | Yes | No |
Charting - Technical Studies | 97 | 34 |
Mobile Trading Apps |
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Dive deeper: Best Stock Trading Apps for 2025
When considering both Interactive Brokers and Merrill Edge, investors find a common ground in several fee structures, yet some distinctions may influence a final decision based primarily on individual requirements. Both platforms attract newcomers with no minimum deposit requirements and offer commission-free stock trading, making them equally accessible. Notably, they share identical fees for trading options at $0.65 per contract. The platforms differ when it comes to margin rates as Interactive Brokers provides a transparent rate of 7.33% for balances up to $99,999, while Merrill Edge's rates vary based on specifics not disclosed here. Examining IRA-related fees, both offer zero annual fees, but Merrill Edge imposes a $49.95 charge for IRA closure.
Both Interactive Brokers and Merrill Edge shine with no fees for account transfers, whether partial or full, demonstrating a user-friendly approach to account management. Furthermore, they both do away with charges commonly associated with options exercises and assignments, which could appeal to active option traders. As no fees apply to essential account transfers and options exercises, investors can focus on their trading strategies without risking surprise charges.
In summary, the primary differentiator between Interactive Brokers and Merrill Edge is found in their approach to margin trading. Interactive Brokers maintains a consistent rate structure, whereas Merrill Edge presents variable rates, potentially requiring more inquiry for those interested in margin trading. Meanwhile, Merrill Edge's additional fee for IRA account closure is a noteworthy difference. Despite these disparities, each broker provides a welcoming environment for new traders hoping to avoid basic entry fees, while more experienced investors may appreciate the no-cost amenities related to account transfers and options handling.
Feature |
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Minimum Deposit | $0.00 | $0.00 |
Stock Trades | $0.00 | $0.00 |
Options (Per Contract) | $0.65 | $0.65 |
Options Exercise Fee | $0.00 | $0.00 |
Options Assignment Fee | $0.00 | $0.00 |
IRA Annual Fee | $0.00 | $0.00 |
IRA Closure Fee | $0.00 | $49.95 |
Dive deeper: Best Free Trading Platforms for 2025
For active traders seeking a comprehensive online broker, Interactive Brokers and Merrill Edge present distinct features and capabilities. Interactive Brokers stands out with its extensive set of tools, offering streaming time and sales for stocks, streaming live TV, direct market routing, ladder trading, and trading hotkeys for swift keyboard trade entry. Furthermore, its platform supports both basic and advanced strategy backtesting. Traders can benefit from a short locator tool that displays real-time availability of shares available for shorting. Additionally, Interactive Brokers provides order liquidity rebates, adding to the incentives for frequent trading activity.
On the other hand, Merrill Edge offers some essential features like streaming time and sales and level 2 quotes, but lacks in several areas compared to its counterpart. Notably, it does not provide streaming live TV, direct market routing, ladder trading, or advanced strategy backtesting. The absence of a short locator tool and order liquidity rebates may be a disadvantage for day traders who rely on these tools for efficient trading and reducing overall costs. Overall, when it comes to features tailored for active day trading, Interactive Brokers is more equipped to serve proactive traders looking to leverage advanced trading strategies and tools.
Feature |
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Streaming Time & Sales | Yes | Yes |
Streaming TV | Yes | No |
Direct Market Routing - Equities | Yes | No |
Level 2 Quotes - Stocks | Yes | Yes |
Trade Ideas - Backtesting | Yes | Yes |
Trade Ideas - Backtesting Adv | Yes | No |
Short Locator | Yes | No |
Dive deeper: Best Day Trading Platforms for 2025
When choosing between Interactive Brokers and Merrill Edge for market research, it’s essential to understand what each platform offers. Interactive Brokers and Merrill Edge both provide comprehensive research capabilities across various financial instruments, such as stocks, ETFs, mutual funds, bonds, and even Pink Sheets/OTCBB securities. While both platforms receive a top rating of five stars for market research, Interactive Brokers edges slightly ahead in the rankings at number four, compared to Merrill Edge's fifth place, according to StockBrokers.com. The availability of social media sentiment data in stock research could be a decisive factor for tech-savvy investors favoring Interactive Brokers, as Merrill Edge does not offer this feature.
Interactive Brokers excels by offering a broad range of downloadable PDF research reports: 15 for stocks compared to Merrill Edge's three. Both brokers provide PDF reports for ETFs and mutual funds, ensuring investors have access to valuable insights. Additionally, both platforms provide tools to analyze portfolio allocation by asset class, supporting informed decision-making. However, Interactive Brokers' inclusion of social media sentiment data in their stock research presents a modern twist that can appeal to those eager to integrate cutting-edge data into their trading strategies.
Both Interactive Brokers and Merrill Edge feature screeners for stocks, ETFs, mutual funds, and bonds, making it easy to generate trade ideas. Additionally, they both include ESG research, catering to the growing demand for socially responsible investing. While their core offerings are similar, Interactive Brokers provides a slightly more extensive suite of research materials and modern analytical tools which can offer a competitive edge for investors who desire comprehensive market insights.
Feature |
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Research - Stocks | Yes | Yes |
Screener - Stocks | Yes | Yes |
Research - ETFs | Yes | Yes |
Screener - ETFs | Yes | Yes |
Research - Mutual Funds | Yes | Yes |
Screener - Mutual Funds | Yes | Yes |
Research - Fixed Income | Yes | Yes |
Screener - Fixed Income | Yes | Yes |
Research |
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When comparing the banking capabilities of Interactive Brokers and Merrill Edge, it's clear they offer distinct services. Interactive Brokers does not provide traditional banking features like checking or savings accounts, nor do they offer debit or credit cards, or mortgage loans. Merrill Edge, on the other hand, extends a suite of banking services, including checking and savings accounts, debit and credit cards, as well as mortgage loan options. Both brokers provide certificates of deposit (CDs), allowing customers to invest in this secure option. For anyone seeking comprehensive banking services alongside brokerage offerings, Merrill Edge stands out as a more versatile choice compared to Interactive Brokers.
Feature |
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Checking Accounts | No | Yes |
Savings Accounts | No | Yes |
Debit Cards | No | Yes |
Credit Cards | No | Yes |
Mortgage Loans | No | Yes |
Brokerage CDs | Yes | Yes |
Dive deeper: Best Brokerage Checking Accounts for 2025
After opening live accounts and testing 14 of the best online brokers, our research and live account testing finds that Interactive Brokers is better than Merrill Edge. Interactive Brokers finished with an overall score of 96.9%, while Merrill Edge finished with a score of 92.7%.
Interactive Brokers is a go-to choice for professionals because of its institutional-grade desktop trading platform, high-quality trade executions and rock-bottom margin rates.
Interactive Brokers stands out by offering cryptocurrency trading with access to 11 different coins, whereas Merrill Edge currently does not support crypto trading.
Dive deeper: Best Online Brokers for Crypto Trading in 2025
Both Interactive Brokers and Merrill Edge offer traditional and Roth IRA accounts without any annual fees. However, while Interactive Brokers does not charge a closure fee for IRA accounts, Merrill Edge imposes a $49.95 fee for closing them.
Dive deeper: Best IRA Accounts for 2025
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0 of 5Overall Rating | Interactive Brokers | Merrill Edge | |
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Platforms & Tools |
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Mobile Trading Apps |
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Research |
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Customer Service |
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Education |
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Ease of Use |
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Winner | check_circle | ||
Review | Interactive Brokers Review | Merrill Edge Review |
Broker Screenshots | Interactive Brokers | Merrill Edge | |
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Broker Gallery (click to expand) |
Trading Fees | Interactive Brokers | Merrill Edge | |
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Minimum Deposit | $0.00 | $0.00 | |
Stock Trades | $0.00 | $0.00 | |
Penny Stock Fees (OTC) | $0.01 | N/A | |
Mutual Fund Trade Fee | $14.95 | Varies | |
Options (Per Contract) | $0.65 | $0.65 | |
Futures (Per Contract) | $0.85 | (Not offered) | |
Broker Assisted Trade Fee | Varies | $29.95 |
Margin Rates | Interactive Brokers | Merrill Edge | |
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Margin Rate Under $25,000 | 7.33% | Varies | |
Margin Rate $25,000 to $49,999.99 | 7.33% | Varies | |
Margin Rate $50,000 to $99,999.99 | 7.33% | Varies | |
Margin Rate $100,000 to $249,999.99 | 7.33% | Varies | |
Margin Rate $250,000 to $499,999.99 | 7.33% | Varies | |
Margin Rate $500,000 to $999,999.99 | 7.33% | Varies | |
Margin Rate Above $1,000,000 | 7.33% | Varies |
Account Fees | Interactive Brokers | Merrill Edge | |
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IRA Annual Fee | $0.00 | $0.00 | |
IRA Closure Fee | $0.00 | $49.95 | |
Account Transfer Out (Partial) | $0.00 | $0.00 | |
Account Transfer Out (Full) | $0.00 | $0.00 | |
Options Exercise Fee | $0.00 | $0.00 | |
Options Assignment Fee | $0.00 | $0.00 |
Investment Options | Interactive Brokers | Merrill Edge | |
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Stock Trading | Yes | Yes | |
Account Feature - Margin Trading | Yes | Yes | |
Fractional Shares (Stocks) | Yes | No | |
OTC Stocks | Yes | Yes | |
Options Trading | Yes | Yes | |
Complex Options Max Legs | 6 | 4 | |
Futures Trading | Yes | No | |
Forex Trading | Yes | No | |
Crypto Trading | Yes | No | |
Crypto Trading - Total Coins | 11 | 0 | |
Fixed Income (Treasurys) | Yes | Yes | |
Fixed Income (Corporate Bonds) | Yes | Yes | |
Fixed Income (Municipal Bonds) | Yes | Yes | |
Traditional IRAs | Yes | Yes | |
Roth IRAs | Yes | Yes | |
Advisor Services | No | Yes | |
International Countries (Stocks) | 34 | 0 |
Order Types | Interactive Brokers | Merrill Edge | |
---|---|---|---|
Order Type - Market | Yes | Yes | |
Order Type - Limit | Yes | Yes | |
Order Type - After Hours | Yes | Yes | |
Order Type - Stop | Yes | Yes | |
Order Type - Trailing Stop | Yes | Yes | |
Order Type - OCO | Yes | No | |
Order Type - OTO | Yes | No | |
Order Type - Broker Assisted | Yes | Yes |
Beginners | Interactive Brokers | Merrill Edge | |
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Education (Stocks) | Yes | Yes | |
Education (ETFs) | Yes | Yes | |
Education (Options) | Yes | Yes | |
Education (Mutual Funds) | Yes | Yes | |
Education (Fixed Income) | Yes | Yes | |
Education (Retirement) | Yes | Yes | |
Retirement Calculator | Yes | Yes | |
Investor Dictionary | Yes | Yes | |
Paper Trading | Yes | No | |
Videos | Yes | Yes | |
Webinars | Yes | Yes | |
Progress Tracking | Yes | No | |
Interactive Learning - Quizzes | Yes | Yes |
Stock Trading Apps | Interactive Brokers | Merrill Edge | |
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iPhone App | Yes | Yes | |
Android App | Yes | Yes | |
Apple Watch App | Yes | No | |
Trading - Stocks | Yes | Yes | |
Trading - After-Hours | Yes | Yes | |
Trading - Simple Options | Yes | Yes | |
Trading - Complex Options | Yes | Yes | |
Order Ticket RT Quotes | Yes | Yes | |
Order Ticket SRT Quotes | Yes | No |
Stock App Features | Interactive Brokers | Merrill Edge | |
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Market Movers (Top Gainers) | Yes | Yes | |
Stream Live TV | Yes | No | |
Videos on Demand | Yes | No | |
Stock Alerts | Yes | Yes | |
Option Chains Viewable | Yes | Yes | |
Watch List (Real-time) | Yes | Yes | |
Watch List (Streaming) | Yes | Yes | |
Watch Lists - Create & Manage | Yes | Yes | |
Watch Lists - Column Customization | Yes | No |
Stock App Charting | Interactive Brokers | Merrill Edge | |
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Charting - After-Hours | Yes | No | |
Charting - Can Turn Horizontally | Yes | Yes | |
Charting - Multiple Time Frames | Yes | Yes | |
Charting - Technical Studies | 97 | 34 | |
Charting - Study Customizations | Yes | Yes | |
Charting - Stock Comparisons | No | Yes |
Trading Platforms | Interactive Brokers | Merrill Edge | |
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Active Trading Platform | Trader Workstation (TWS) | Merrill Edge Market Pro | |
Desktop Trading Platform | Yes | No | |
Desktop Platform (Mac) | Yes | No | |
Web Trading Platform | Yes | Yes | |
Paper Trading | Yes | No | |
Trade Journal | Yes | No | |
Watch Lists - Total Fields | 659 | 285 |
Stock Chart Features | Interactive Brokers | Merrill Edge | |
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Charting - Adjust Trades on Chart | Yes | Yes | |
Charting - Indicators / Studies | 155 | 105 | |
Charting - Drawing Tools | 85 | 23 | |
Charting - Notes | Yes | Yes | |
Charting - Historical Trades | Yes | Yes | |
Charting - Corporate Events | Yes | Yes | |
Charting - Custom Date Range | Yes | Yes | |
Charting - Custom Time Bars | Yes | Yes | |
Charting - Automated Analysis | Yes | Yes | |
Charting - Save Profiles | Yes | Yes | |
Trade Ideas - Technical Analysis | Yes | Yes | |
Charting - Study Customizations | 6 | 8 | |
Charting - Custom Studies | No | No |
Day Trading | Interactive Brokers | Merrill Edge | |
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Streaming Time & Sales | Yes | Yes | |
Streaming TV | Yes | No | |
Direct Market Routing - Equities | Yes | No | |
Ladder Trading | Yes | No | |
Trade Hot Keys | Yes | No | |
Level 2 Quotes - Stocks | Yes | Yes | |
Trade Ideas - Backtesting | Yes | Yes | |
Trade Ideas - Backtesting Adv | Yes | No | |
Short Locator | Yes | No | |
Order Liquidity Rebates | Yes | No |
Research Overview | Interactive Brokers | Merrill Edge | |
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Research - Stocks | Yes | Yes | |
Research - ETFs | Yes | Yes | |
Research - Mutual Funds | Yes | Yes | |
Research - Pink Sheets / OTCBB | Yes | Yes | |
Research - Fixed Income | Yes | Yes | |
Screener - Stocks | Yes | Yes | |
Screener - ETFs | Yes | Yes | |
Screener - Mutual Funds | Yes | Yes | |
Screener - Fixed Income | Yes | Yes | |
Portfolio Asset Allocation | Yes | Yes |
Stock Research | Interactive Brokers | Merrill Edge | |
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Stock Research - PDF Reports | 15 | 3 | |
Stock Research - Earnings | Yes | Yes | |
Stock Research - Insiders | Yes | Yes | |
Stock Research - Social | Yes | No | |
Stock Research - News | Yes | Yes | |
Stock Research - ESG | Yes | Yes | |
Stock Research - SEC Filings | Yes | Yes |
ETF Research | Interactive Brokers | Merrill Edge | |
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ETFs - Investment Objective | Yes | Yes | |
ETF Fund Facts - Inception Date | Yes | Yes | |
ETF Fund Facts - Expense Ratio | Yes | Yes | |
ETF Fund Facts - Total Assets | Yes | Yes | |
ETF Fund Facts - Total Holdings | Yes | Yes | |
ETFs - Top 10 Holdings | Yes | Yes | |
ETFs - Sector Exposure | Yes | Yes | |
ETFs - Risk Analysis | Yes | Yes | |
ETFs - Ratings | Yes | Yes | |
ETFs - Morningstar StyleMap | Yes | Yes | |
ETFs - PDF Reports | Yes | Yes |
Mutual Fund Research | Interactive Brokers | Merrill Edge | |
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Mutual Funds - Investment Objective | Yes | Yes | |
Mutual Funds - Performance Chart | Yes | Yes | |
Mutual Funds - Performance Analysis | Yes | Yes | |
Mutual Funds - Prospectus | Yes | Yes | |
Mutual Funds - 3rd Party Ratings | Yes | Yes | |
Mutual Funds - Fees Breakdown | Yes | Yes | |
Mutual Funds - Top 10 Holdings | Yes | Yes | |
Mutual Funds - Asset Allocation | Yes | Yes | |
Mutual Funds - Sector Allocation | Yes | Yes | |
Mutual Funds - Country Allocation | Yes | Yes | |
Mutual Funds - StyleMap | Yes | Yes |
Options Trading | Interactive Brokers | Merrill Edge | |
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Option Chains - Total Greeks | 5 | 5 | |
Option Analysis - P&L Charts | Yes | Yes |
Banking | Interactive Brokers | Merrill Edge | |
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Bank (Member FDIC) | No | Yes | |
Checking Accounts | No | Yes | |
Savings Accounts | No | Yes | |
Credit Cards | No | Yes | |
Debit Cards | No | Yes | |
Mortgage Loans | No | Yes |
Customer Service | Interactive Brokers | Merrill Edge | |
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Phone Support (Prospect Customers) | Yes | Yes | |
Phone Support (Current Customers) | Yes | Yes | |
Email Support | Yes | No | |
Live Chat (Prospect Customers) | No | Yes | |
Live Chat (Current Customers) | Yes | Yes | |
24/7 Support | No | Yes |
Overall | Interactive Brokers | Merrill Edge | |
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Platforms & Tools |
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Mobile Trading Apps |
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Research |
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Education |
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Ease of Use |
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Winner | check_circle | ||
Review | Interactive Brokers Review | Merrill Edge Review |