Merrill Edge vs Robinhood 2025
In this head to head comparison of Merrill Edge vs Robinhood, 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 Merrill Edge vs Robinhood, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
When comparing Merrill Edge to Robinhood for investment options, Merrill Edge emerges as a comprehensive choice for investors seeking a wide range of traditional investment avenues, while Robinhood caters more to those interested in newer financial technologies like cryptocurrencies. Merrill Edge scores higher with a 4.5-star rating for its range of investments, reflecting its offering of traditional options such as mutual funds and advisor services. In contrast, Robinhood, rated with 3.5 stars, provides access to modern investment strategies such as fractional shares and cryptocurrency trading. Both platforms offer essential services like stock trading, margin trading, and options trading, but they each cater to different investment styles and needs.
Merrill Edge is a solid choice for investors interested in a more traditional approach, offering mutual funds, OTC stocks, and advisor services, which Robinhood does not offer. It also ranks higher in StockBrokers.com's range of investments rankings, securing the 7th spot out of 16 brokers. However, it lacks offerings in cryptocurrency, fractional shares, and does not cater to those interested in forex or futures trading.
On the other hand, Robinhood is designed for the digital-savvy investor looking for flexibility and access to innovative financial instruments. It excels in providing fractional shares trading and offers a substantial range of cryptocurrency options, with 22 coins available. Though ranked #13 by StockBrokers.com for the range of investments, it appeals to users seeking straightforward trading platforms without the added guidance from advisor services. Ultimately, the choice between Merrill Edge and Robinhood depends on whether an investor prefers traditional advisory support and investment options or a tech-driven, innovative investing experience.
Feature |
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Stock Trading | Yes | Yes |
Margin Trading | Yes | Yes |
Fractional Shares | No | Yes |
OTC Stocks | Yes | No |
Mutual Funds | Yes | No |
Options Trading | Yes | Yes |
Futures Trading | No | No |
Crypto Trading | No | Yes |
Crypto Trading - Total Coins | 0 | 22 |
Range of Investments |
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Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025
When comparing the trading platforms and tools of Merrill Edge and Robinhood, Merrill Edge typically offers a more advanced experience. It earns a slightly higher rating of 4 stars compared to Robinhood's 3.5, and ranks 6th out of 16 brokers according to StockBrokers.com, while Robinhood takes the 9th spot. Both brokers lack desktop applications for Windows and Mac, but provide browser-based platforms. Despite their similarities in this area, Merrill Edge's platform offers a more comprehensive set of features that may appeal to more experienced traders seeking detailed analysis options.
Merrill Edge provides a superior experience in terms of customizable watch lists, offering a staggering 285 fields compared to Robinhood's mere 3. While both platforms allow adjustment of open orders directly on stock charts and offer 23 drawing tools, Merrill Edge edges out with a whopping 105 technical indicators against Robinhood's 16. Merrill Edge also provides the ability to show historical trades, corporate events, and automated technical analysis on charts, all of which are absent from Robinhood's offerings.
While Robinhood and Merrill Edge share some functionalities, such as the ability to save multiple chart profiles and add notes and index overlays to charts, the breadth of Merrill Edge's customization options shines through, especially when editing simple moving average studies. Merrill Edge offers eight customization fields, far surpassing Robinhood's single field. Neither broker offers paper trading or trading journals, nor the ability to create custom studies, which is something potential users might want to consider exploring with other platforms.
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Web Trading Platform | Yes | Yes |
Desktop Trading Platform | No | No |
Desktop Platform (Mac) | No | No |
Paper Trading | No | No |
Watch Lists - Total Fields | 285 | 3 |
Charting - Indicators / Studies | 105 | 16 |
Charting - Drawing Tools | 23 | 23 |
Platforms & Tools |
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Dive deeper: 7 Best Brokerage Accounts for 2025, Best Paper Trading Platforms for 2025
When it comes to investor education for beginners, Merrill Edge and Robinhood both provide a range of learning resources, but they differ in a few areas. Merrill Edge offers education on stocks, ETFs, options, mutual funds, and bonds, along with educational videos, webinars, and quizzes. In contrast, Robinhood also covers stocks, ETFs, and options but does not provide resources on mutual funds or bonds. While Robinhood features webinars, it lacks the video tutorials and quizzes found at Merrill Edge. Unfortunately, neither platform offers paper trading or features that allow users to track their learning progress.
Ranked #5 by StockBrokers.com with a 4.5-star rating for investor education, Merrill Edge stands out as a strong choice for beginners eager to learn through a structured program that includes videos and quizzes. Meanwhile, Robinhood, rated 4 stars and ranked #9, offers basic educational material but does not match Merrill Edge's variety of formats. While Robinhood remains popular for its straightforward and user-friendly platform, those seeking a broader educational experience may find Merrill Edge to be a more comprehensive choice.
Feature |
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Education (Stocks) | Yes | Yes |
Education (ETFs) | Yes | Yes |
Education (Options) | Yes | Yes |
Education (Mutual Funds) | Yes | No |
Education (Bonds) | Yes | No |
Paper Trading | No | No |
Videos | Yes | No |
Webinars | Yes | Yes |
Education |
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Dive deeper: Best Stock Trading Platforms for Beginners of 2025
In comparing Merrill Edge and Robinhood for stock trading app capabilities, the overarching takeaway is that both apps offer solid options for investors, each excelling in different areas depending on user preference. Merrill Edge and Robinhood both boast high ratings of 4.5 stars, though Merrill Edge ranks slightly higher at #6 compared to Robinhood's #7 ranking by StockBrokers.com. Although they share numerous similar features, such as availability on both iPhone and Android devices, mobile options trading, and streaming quotes, their differences cater to unique user needs.
Merrill Edge stands out with its detailed charting capabilities, offering 34 technical studies and the ability to view stock comparisons on charts. Users can view multiple time frames in landscape mode, which can satisfy those seeking enhanced analytical tools. On the other hand, Robinhood excels in accessibility, providing an Apple Watch app and customization of watch list columns, alongside after-hours charting capabilities that Merrill Edge lacks. Additionally, Robinhood's straightforward setup appeals to new or casual traders looking for a simplified trading experience.
Both Merrill Edge and Robinhood ensure users can stay on top of market movements with features like mobile after-hours trading, customizable watch lists, and stock alerts. While neither offers streaming live TV or videos on demand, these platforms provide essential functionality for mobile trading. Ultimately, the best choice between the two depends on the specific tools and features that individual investors value most in a mobile trading app.
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iPhone App | Yes | Yes |
Android App | Yes | Yes |
Apple Watch App | No | Yes |
Stock Alerts | Yes | Yes |
Charting - After-Hours | No | Yes |
Charting - Technical Studies | 34 | 6 |
Mobile Trading Apps |
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Dive deeper: Best Stock Trading Apps for 2025
When comparing Merrill Edge and Robinhood for their account fees and charges, both platforms provide excellent options for commission-free stock trading. Both have no minimum deposit, making them accessible to new investors. However, there are notable differences regarding options trading and other service fees. While Merrill Edge charges $0.65 per options contract, Robinhood provides options trading without any contract fee. This cost difference may appeal to frequent options traders who prioritize minimizing fees.
In terms of margin rates, Robinhood offers a clear schedule, with a set rate of 5.75% for balances below $50,000 and a slightly reduced rate of 5.55% for higher balances. Merrill Edge's margin rates vary, potentially offering more competitive rates depending on the account tier. Both platforms offer IRA accounts with no annual fees, but Merrill Edge imposes a $49.95 fee for IRA closures, whereas Robinhood charges nothing.
Another factor to consider is the cost of account transfers. Merrill Edge charges nothing for both partial and full Account Transfers (ACAT), while Robinhood has a $100 fee for each. Additionally, neither platform charges fees for options exercise or assignment. For investors seeking a fee-free options trading platform, Robinhood could be the better choice. However, for those considering flexibility with account transfers and potentially variable margin rates, Merrill Edge may be more appealing.
Feature |
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Minimum Deposit | $0.00 | $0.00 |
Stock Trades | $0.00 | $0.00 |
Options (Per Contract) | $0.65 | $0.00 |
Options Exercise Fee | $0.00 | $0.00 |
Options Assignment Fee | $0.00 | $0.00 |
IRA Annual Fee | $0.00 | $0.00 |
IRA Closure Fee | $49.95 | $0.00 |
Dive deeper: Best Free Trading Platforms for 2025
Merrill Edge and Robinhood both serve as popular platforms among traders, but they offer different tools for day trading enthusiasts. Merrill Edge provides streaming time and sales data for stocks, an essential feature for traders needing real-time market data. However, it lacks streaming live TV and direct market routing, which might be important for certain traders. Notably, Merrill Edge offers Level 2 quotes and basic strategy backtesting, providing a layer of depth in trading insights and strategies that Robinhood does not. These features cater to traders looking for detailed market information and the ability to test simple trading strategies without needing to commit real money.
Robinhood, on the other hand, is known for its user-friendly interface and unique feature of ladder trading. It's an attractive option for traders who prefer a simplified trading experience, though it falls short in offering critical tools like Level 2 quotes, streaming time and sales, and basic strategy backtesting. Both Merrill Edge and Robinhood lack trading hotkeys and advanced backtesting options, which may be a consideration for traders who rely heavily on these capabilities. Overall, while Merrill Edge may offer more depth in data and testing, Robinhood provides an easy-to-navigate platform with focused features for straightforward trades.
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Streaming Time & Sales | Yes | No |
Streaming TV | No | No |
Direct Market Routing - Stocks | No | No |
Level 2 Quotes - Stocks | Yes | No |
Trade Ideas - Backtesting | Yes | No |
Trade Ideas - Backtesting Adv | No | No |
Short Locator | No | No |
Dive deeper: Best Day Trading Platforms for 2025
When it comes to market research, Merrill Edge significantly outpaces Robinhood by providing a wide range of research tools and resources. Merrill Edge offers comprehensive research capabilities across stocks, ETFs, mutual funds, pink sheets, OTCBB, and bonds, along with ESG research and detailed portfolio allocation insights. Its offerings include three downloadable PDF research reports for stocks and additional reports for ETFs and mutual funds. In contrast, Robinhood supports stock and ETF research but lacks resources for mutual funds, bonds, and ESG research, providing limited downloadable reports. Merrill Edge's extensive research features earn it a 5-star rating and a rank of #5, compared to Robinhood's 2-star rating and #10 ranking for market research.
Merrill Edge excels with its thorough approach to investment research. Investors have access to tools for assessing stocks, ETFs, and mutual funds, and they can take advantage of screeners for trade ideas across various asset classes including bonds. The platform also allows users to view their portfolio allocation by asset class, adding another layer of insight for strategic decision-making. While Merrill Edge does not provide research using social media sentiment data, its detailed reports and comprehensive suite of tools make it a premier choice for investors seeking in-depth research capabilities.
On the other hand, Robinhood provides basic research support, covering stocks, ETFs, and OTC markets. However, its offerings are limited when compared to the extensive tools available from Merrill Edge. Robinhood does not support mutual funds or bond research and lacks downloadable research reports for users seeking deeper insights. Although Robinhood does offer a stock screener for trade ideas, it falls short in providing resources that appeal to investors who need comprehensive analysis tools. This limitation is further underscored by its lower overall rating and ranking.
Feature |
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Research - Stocks | Yes | Yes |
Screener - Stocks | Yes | Yes |
Research - ETFs | Yes | Yes |
Screener - ETFs | Yes | No |
Research - Mutual Funds | Yes | No |
Screener - Mutual Funds | Yes | No |
Research - Bonds | Yes | No |
Screener - Bonds | Yes | No |
Research |
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When comparing the banking capabilities of Merrill Edge and Robinhood, several differences stand out. Merrill Edge offers a comprehensive range of banking services that include checking and savings accounts, providing users with a more traditional banking experience. They also offer debit cards, credit cards, mortgage loans, and CDs, providing options for various financial needs. On the other hand, Robinhood, while offering debit and credit cards to its users, does not provide checking accounts, savings accounts, mortgage loans, or CDs, which may limit the banking features available to its customers. This makes Merrill Edge a more suitable option for individuals seeking comprehensive banking solutions alongside investment services.
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Checking Accounts | Yes | No |
Savings Accounts | Yes | No |
Debit Cards | Yes | Yes |
Credit Cards | Yes | Yes |
Mortgage Loans | Yes | No |
CDs | Yes | No |
Dive deeper: Best Bank Accounts for Trading Stocks for 2025
After opening live accounts and testing 16 of the best online brokers, our research and live account testing finds that Merrill Edge is better than Robinhood. Merrill Edge finished with an overall score of 92.7%, while Robinhood finished with a score of 77.3%.
Merrill Edge and its parent, Bank of America, make for a well-rounded offering, with $0 trades, robust research, reliable customer service; and its Stock Stories and Fund Stories are an industry standout. There are some gaps in investment offerings, including crypto and futures.
While Merrill Edge does not offer crypto trading options, Robinhood provides access to 22 different cryptocurrencies, making it a more versatile platform for users interested in digital asset trading.
Dive deeper: Best Online Brokers for Crypto Trading in 2025
Both Merrill Edge and Robinhood offer traditional and Roth IRA accounts with no annual fees, but while Merrill Edge charges a $49.95 closure fee for closing IRA accounts, Robinhood does not impose any closure fees, providing a cost-effective option for users considering account termination.
Dive deeper: Best IRA Accounts for 2025
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0 of 5Overall Rating | Merrill Edge | Robinhood | |
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Overall |
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Range of Investments |
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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 | Merrill Edge Review | Robinhood Review |
Broker Screenshots | Merrill Edge | Robinhood | |
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Trading Platform & Tools Gallery (click to expand) | |||
Research Gallery (click to expand) | |||
Mobile Trading Apps Gallery (click to expand) | |||
Education Gallery (click to expand) |
Trading Fees | Merrill Edge | Robinhood | |
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Minimum Deposit | $0.00 | $0.00 | |
Stock Trades | $0.00 | $0.00 | |
Penny Stock Fees (OTC) | N/A | N/A | |
Mutual Fund Trade Fee | Varies | N/A | |
Options (Per Contract) | $0.65 | $0.00 | |
Futures (Per Contract) | (Not offered) | (Not offered) | |
Broker Assisted Trade Fee | $29.95 | N/A |
Margin Rates | Merrill Edge | Robinhood | |
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Margin Rate Under $25,000 | Varies | 5.75% | |
Margin Rate $25,000 to $49,999.99 | Varies | 5.75% | |
Margin Rate $50,000 to $99,999.99 | Varies | 5.55% | |
Margin Rate $100,000 to $249,999.99 | Varies | 5.25% | |
Margin Rate $250,000 to $499,999.99 | Varies | 5.25% | |
Margin Rate $500,000 to $999,999.99 | Varies | 5.25% | |
Margin Rate Above $1,000,000 | Varies | 5% |
Account Fees | Merrill Edge | Robinhood | |
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IRA Annual Fee | $0.00 | $0.00 | |
IRA Closure Fee | $49.95 | $0.00 | |
Account Transfer Out (Partial) | $0.00 | $100.00 | |
Account Transfer Out (Full) | $0.00 | $100.00 | |
Options Exercise Fee | $0.00 | $0.00 | |
Options Assignment Fee | $0.00 | $0.00 |
Investment Options | Merrill Edge | Robinhood | |
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Stock Trading | Yes | Yes | |
Margin Trading | Yes | Yes | |
Fractional Shares | No | Yes | |
OTC Stocks | Yes | No | |
Options Trading | Yes | Yes | |
Complex Options Max Legs | 4 | 4 | |
Futures Trading | No | No | |
Forex Trading | No | No | |
Crypto Trading | No | Yes | |
Crypto Trading - Total Coins | 0 | 22 | |
Mutual Funds (No Load) | 2952 | 0 | |
Mutual Funds (Total) | 3466 | 0 | |
Bonds (US Treasury) | Yes | No | |
Bonds (Corporate) | Yes | No | |
Bonds (Municipal) | Yes | No | |
Traditional IRAs | Yes | Yes | |
Roth IRAs | Yes | Yes | |
Advisor Services | Yes | No | |
International Countries (Stocks) | 0 | 0 |
Order Types | Merrill Edge | Robinhood | |
---|---|---|---|
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 | No | No | |
Order Type - OTO | No | No | |
Order Type - Broker Assisted | Yes | No |
Beginners | Merrill Edge | Robinhood | |
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Education (Stocks) | Yes | Yes | |
Education (ETFs) | Yes | Yes | |
Education (Options) | Yes | Yes | |
Education (Mutual Funds) | Yes | No | |
Education (Bonds) | Yes | No | |
Education (Retirement) | Yes | No | |
Retirement Calculator | Yes | No | |
Investor Dictionary | Yes | Yes | |
Paper Trading | No | No | |
Videos | Yes | No | |
Webinars | Yes | Yes | |
Webinars (Archived) | Yes | No | |
Progress Tracking | No | No | |
Interactive Learning - Quizzes | Yes | No |
Stock Trading Apps | Merrill Edge | Robinhood | |
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iPhone App | Yes | Yes | |
Android App | Yes | Yes | |
Apple Watch App | No | Yes | |
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 | No | Yes |
Stock App Features | Merrill Edge | Robinhood | |
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Market Movers (Top Gainers) | Yes | Yes | |
Stream Live TV | No | No | |
Videos on Demand | No | 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 | No | Yes |
Stock App Charting | Merrill Edge | Robinhood | |
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Charting - After-Hours | No | Yes | |
Charting - Can Turn Horizontally | Yes | No | |
Charting - Multiple Time Frames | Yes | Yes | |
Charting - Technical Studies | 34 | 6 | |
Charting - Study Customizations | Yes | Yes | |
Charting - Stock Comparisons | Yes | No |
Trading Platforms | Merrill Edge | Robinhood | |
---|---|---|---|
Active Trading Platform | Merrill Edge Market Pro | Robinhood Legend | |
Desktop Trading Platform | No | No | |
Desktop Platform (Mac) | No | No | |
Web Trading Platform | Yes | Yes | |
Paper Trading | No | No | |
Trade Journal | No | No | |
Watch Lists - Total Fields | 285 | 3 |
Stock Chart Features | Merrill Edge | Robinhood | |
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Charting - Adjust Trades on Chart | Yes | Yes | |
Charting - Indicators / Studies | 105 | 16 | |
Charting - Drawing Tools | 23 | 23 | |
Charting - Notes | Yes | Yes | |
Charting - Index Overlays | Yes | Yes | |
Charting - Historical Trades | Yes | No | |
Charting - Corporate Events | Yes | No | |
Charting - Custom Date Range | Yes | Yes | |
Charting - Custom Time Bars | Yes | Yes | |
Charting - Automated Analysis | Yes | No | |
Charting - Save Profiles | Yes | Yes | |
Trade Ideas - Technical Analysis | Yes | No | |
Charting - Study Customizations | 8 | 1 | |
Charting - Custom Studies | No | No |
Day Trading | Merrill Edge | Robinhood | |
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Streaming Time & Sales | Yes | No | |
Streaming TV | No | No | |
Direct Market Routing - Stocks | No | No | |
Ladder Trading | No | Yes | |
Trade Hotkeys | No | No | |
Level 2 Quotes - Stocks | Yes | No | |
Trade Ideas - Backtesting | Yes | No | |
Trade Ideas - Backtesting Adv | No | No | |
Short Locator | No | No | |
Order Liquidity Rebates | No | No |
Research Overview | Merrill Edge | Robinhood | |
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Research - Stocks | Yes | Yes | |
Research - ETFs | Yes | Yes | |
Research - Mutual Funds | Yes | No | |
Research - Pink Sheets / OTCBB | Yes | Yes | |
Research - Bonds | Yes | No | |
Screener - Stocks | Yes | Yes | |
Screener - ETFs | Yes | No | |
Screener - Mutual Funds | Yes | No | |
Screener - Bonds | Yes | No | |
Misc - Portfolio Allocation | Yes | No |
Stock Research | Merrill Edge | Robinhood | |
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Stock Research - PDF Reports | 3 | 0 | |
Stock Research - Earnings | Yes | Yes | |
Stock Research - Insiders | Yes | No | |
Stock Research - Social | No | No | |
Stock Research - News | Yes | Yes | |
Stock Research - ESG | Yes | No | |
Stock Research - SEC Filings | Yes | No |
ETF Research | Merrill Edge | Robinhood | |
---|---|---|---|
ETFs - Strategy Overview | Yes | Yes | |
ETF Fund Facts - Inception Date | Yes | Yes | |
ETF Fund Facts - Expense Ratio | Yes | Yes | |
ETF Fund Facts - Net 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 | No | |
ETFs - Ratings | Yes | No | |
ETFs - Morningstar StyleMap | Yes | No | |
ETFs - PDF Reports | Yes | No |
Mutual Fund Research | Merrill Edge | Robinhood | |
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Mutual Funds - Strategy Overview | Yes | No | |
Mutual Funds - Performance Chart | Yes | No | |
Mutual Funds - Performance Analysis | Yes | No | |
Mutual Funds - Prospectus | Yes | No | |
Mutual Funds - 3rd Party Ratings | Yes | No | |
Mutual Funds - Fees Breakdown | Yes | No | |
Mutual Funds - Top 10 Holdings | Yes | No | |
Mutual Funds - Asset Allocation | Yes | No | |
Mutual Funds - Sector Allocation | Yes | No | |
Mutual Funds - Country Allocation | Yes | No | |
Mutual Funds - StyleMap | Yes | No |
Options Trading | Merrill Edge | Robinhood | |
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Option Chains - Basic View | Yes | Yes | |
Option Chains - Strategy View | Yes | Yes | |
Option Chains - Streaming | Yes | Yes | |
Option Chains - Total Columns | 68 | 17 | |
Option Chains - Greeks | 5 | 5 | |
Option Chains - Quick Analysis | Yes | Yes | |
Option Analysis - P&L Charts | Yes | Yes | |
Option Probability Analysis | Yes | No | |
Option Probability Analysis Adv | No | No | |
Option Positions - Greeks | Yes | Yes | |
Option Positions - Greeks Streaming | Yes | Yes | |
Option Positions - Adv Analysis | Yes | No | |
Option Positions - Rolling | Yes | Yes | |
Option Positions - Grouping | Yes | Yes |
Banking | Merrill Edge | Robinhood | |
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Bank (Member FDIC) | Yes | No | |
Checking Accounts | Yes | No | |
Savings Accounts | Yes | No | |
Credit Cards | Yes | Yes | |
Debit Cards | Yes | Yes | |
Mortgage Loans | Yes | No |
Customer Service | Merrill Edge | Robinhood | |
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Phone Support (Prospect Customers) | Yes | No | |
Phone Support (Current Customers) | Yes | Yes | |
Email Support | No | Yes | |
Live Chat (Prospect Customers) | Yes | No | |
Live Chat (Current Customers) | Yes | Yes | |
24/7 Support | Yes | Yes |
Overall | Merrill Edge | Robinhood | |
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Overall |
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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 | Merrill Edge Review | Robinhood Review |