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Merrill Edge vs Robinhood 2025

StockBrokers.com

Written by StockBrokers.com

February 20, 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.

Merrill Edge
4.5/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.65
Robinhood
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00

Range of investments

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 Merrill Edge logoMerrill Edge
Robinhood logoRobinhood
Stock Trading info Yes Yes
Margin Trading info Yes Yes
Fractional Shares info No Yes
OTC Stocks info Yes No
Mutual Funds info Yes No
Options Trading info Yes Yes
Futures Trading info No No
Crypto Trading info No Yes info
Crypto Trading - Total Coins info 0 22
Range of Investments 4.5/5 Stars 3.5/5 Stars

Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025

Trading platforms and tools

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.

Feature Merrill Edge logoMerrill Edge
Robinhood logoRobinhood
Web Trading Platform info Yes Yes
Desktop Trading Platform info No No
Desktop Platform (Mac) info No No
Paper Trading info No No
Watch Lists - Total Fields info 285 3
Charting - Indicators / Studies info 105 16
Charting - Drawing Tools info 23 23
Platforms & Tools 4/5 Stars 3.5/5 Stars

Dive deeper: 7 Best Brokerage Accounts for 2025, Best Paper Trading Platforms for 2025

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Beginners and education

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 Merrill Edge logoMerrill Edge
Robinhood logoRobinhood
Education (Stocks) info Yes Yes
Education (ETFs) info Yes Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes No
Education (Bonds) info Yes No
Paper Trading info No No
Videos info Yes No
Webinars info Yes Yes
Education 4.5/5 Stars 4/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2025

Stock trading apps

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.

Feature Merrill Edge logoMerrill Edge
Robinhood logoRobinhood
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No Yes
Stock Alerts info Yes Yes
Charting - After-Hours info No Yes
Charting - Technical Studies info 34 6
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Stock Trading Apps for 2025

Fees

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 Merrill Edge logoMerrill Edge
Robinhood logoRobinhood
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Options (Per Contract) info $0.65 $0.00
Options Exercise Fee info $0.00 $0.00
Options Assignment Fee info $0.00 $0.00
IRA Annual Fee info $0.00 $0.00
IRA Closure Fee info $49.95 $0.00

Dive deeper: Best Free Trading Platforms for 2025

Day Trading

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.

Feature Merrill Edge logoMerrill Edge
Robinhood logoRobinhood
Streaming Time & Sales info Yes No
Streaming TV info No No
Direct Market Routing - Stocks info No No
Level 2 Quotes - Stocks info Yes No info
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info No No
Short Locator info No No

Dive deeper: Best Day Trading Platforms for 2025

Market Research

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 Merrill Edge logoMerrill Edge
Robinhood logoRobinhood
Research - Stocks info Yes Yes
Screener - Stocks info Yes Yes
Research - ETFs info Yes Yes
Screener - ETFs info Yes No
Research - Mutual Funds info Yes No
Screener - Mutual Funds info Yes No
Research - Bonds info Yes No
Screener - Bonds info Yes No
Research 5/5 Stars 2/5 Stars

Banking

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.

Feature Merrill Edge logoMerrill Edge
Robinhood logoRobinhood
Checking Accounts info Yes No
Savings Accounts info Yes No
Debit Cards info Yes Yes
Credit Cards info Yes Yes
Mortgage Loans info Yes No
CDs info Yes No

Dive deeper: Best Bank Accounts for Trading Stocks for 2025

Winner

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.

FAQs

Can you trade cryptocurrency with Merrill Edge or Robinhood?

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

Does Merrill Edge or Robinhood offer IRAs?

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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Compare

0 of 5
Overall Rating Merrill Edge Robinhood
Overall 4.5/5 Stars 4/5 Stars
Range of Investments 4.5/5 Stars 3.5/5 Stars
Platforms & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 5/5 Stars 2/5 Stars
Customer Service 4.0/5 Stars N/A
Education 4.5/5 Stars 4/5 Stars
Ease Of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Merrill Edge Review Robinhood Review
Broker Screenshots Merrill Edge Robinhood
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
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Penny Stock Fees (OTC) info N/A N/A
Mutual Fund Trade Fee info Varies info N/A
Options (Per Contract) info $0.65 $0.00
Futures (Per Contract) info (Not offered) (Not offered)
Broker Assisted Trade Fee info $29.95 N/A
Margin Rates Merrill Edge Robinhood
Margin Rate Under $25,000 info Varies info 5.75%
Margin Rate $25,000 to $49,999.99 info Varies info 5.75%
Margin Rate $50,000 to $99,999.99 info Varies info 5.55%
Margin Rate $100,000 to $249,999.99 info Varies info 5.25%
Margin Rate $250,000 to $499,999.99 info Varies info 5.25%
Margin Rate $500,000 to $999,999.99 info Varies info 5.25%
Margin Rate Above $1,000,000 info Varies info 5% info
Account Fees Merrill Edge Robinhood
IRA Annual Fee info $0.00 $0.00
IRA Closure Fee info $49.95 $0.00
Account Transfer Out (Partial) info $0.00 $100.00
Account Transfer Out (Full) info $0.00 $100.00
Options Exercise Fee info $0.00 $0.00
Options Assignment Fee info $0.00 $0.00
Investment Options Merrill Edge Robinhood
Stock Trading info Yes Yes
Margin Trading info Yes Yes
Fractional Shares info No Yes
OTC Stocks info Yes No
Options Trading info Yes Yes
Complex Options Max Legs info 4 4
Futures Trading info No No
Forex Trading info No No
Crypto Trading info No Yes info
Crypto Trading - Total Coins info 0 22
Mutual Funds (No Load) info 2952 0
Mutual Funds (Total) info 3466 0
Bonds (US Treasury) info Yes No
Bonds (Corporate) info Yes No
Bonds (Municipal) info Yes No
Traditional IRAs info Yes Yes
Roth IRAs info Yes Yes
Advisor Services info Yes No
International Countries (Stocks) info 0 0
Order Types Merrill Edge Robinhood
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes Yes
Order Type - OCO info No No
Order Type - OTO info No No
Order Type - Broker Assisted info Yes No
Beginners Merrill Edge Robinhood
Education (Stocks) info Yes Yes
Education (ETFs) info Yes Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes No
Education (Bonds) info Yes No
Education (Retirement) info Yes No
Retirement Calculator info Yes No
Investor Dictionary info Yes Yes
Paper Trading info No No
Videos info Yes No
Webinars info Yes Yes
Webinars (Archived) info Yes No
Progress Tracking info No No
Interactive Learning - Quizzes info Yes No
Stock Trading Apps Merrill Edge Robinhood
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No Yes
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes Yes
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes Yes
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info No Yes
Stock App Features Merrill Edge Robinhood
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No No
Videos on Demand info No No
Stock Alerts info Yes Yes
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes Yes
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info No Yes
Stock App Charting Merrill Edge Robinhood
Charting - After-Hours info No Yes
Charting - Can Turn Horizontally info Yes No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 34 6
Charting - Study Customizations info Yes Yes
Charting - Stock Comparisons info Yes No
Trading Platforms Merrill Edge Robinhood
Active Trading Platform info Merrill Edge Market Pro Robinhood Legend
Desktop Trading Platform info No No
Desktop Platform (Mac) info No No
Web Trading Platform info Yes Yes
Paper Trading info No No
Trade Journal info No No
Watch Lists - Total Fields info 285 3
Stock Chart Features Merrill Edge Robinhood
Charting - Adjust Trades on Chart info Yes Yes
Charting - Indicators / Studies info 105 16
Charting - Drawing Tools info 23 23
Charting - Notes info Yes Yes
Charting - Index Overlays info Yes Yes
Charting - Historical Trades info Yes No
Charting - Corporate Events info Yes No
Charting - Custom Date Range info Yes Yes
Charting - Custom Time Bars info Yes Yes
Charting - Automated Analysis info Yes No
Charting - Save Profiles info Yes Yes
Trade Ideas - Technical Analysis info Yes No
Charting - Study Customizations info 8 1
Charting - Custom Studies info No No
Day Trading Merrill Edge Robinhood
Streaming Time & Sales info Yes No
Streaming TV info No No
Direct Market Routing - Stocks info No No
Ladder Trading info No Yes
Trade Hotkeys info No No
Level 2 Quotes - Stocks info Yes No info
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info No No
Short Locator info No No
Order Liquidity Rebates info No No
Research Overview Merrill Edge Robinhood
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes No
Research - Pink Sheets / OTCBB info Yes Yes
Research - Bonds info Yes No
Screener - Stocks info Yes Yes
Screener - ETFs info Yes No
Screener - Mutual Funds info Yes No
Screener - Bonds info Yes No
Misc - Portfolio Allocation info Yes No
Stock Research Merrill Edge Robinhood
Stock Research - PDF Reports info 3 0 info
Stock Research - Earnings info Yes Yes
Stock Research - Insiders info Yes No
Stock Research - Social info No No
Stock Research - News info Yes Yes
Stock Research - ESG info Yes No
Stock Research - SEC Filings info Yes No
ETF Research Merrill Edge Robinhood
ETFs - Strategy Overview info Yes Yes
ETF Fund Facts - Inception Date info Yes Yes
ETF Fund Facts - Expense Ratio info Yes Yes
ETF Fund Facts - Net Assets info Yes Yes
ETF Fund Facts - Total Holdings info Yes Yes
ETFs - Top 10 Holdings info Yes Yes
ETFs - Sector Exposure info Yes Yes
ETFs - Risk Analysis info Yes No
ETFs - Ratings info Yes No
ETFs - Morningstar StyleMap info Yes No
ETFs - PDF Reports info Yes No info
Mutual Fund Research Merrill Edge Robinhood
Mutual Funds - Strategy Overview info Yes No
Mutual Funds - Performance Chart info Yes No
Mutual Funds - Performance Analysis info Yes No
Mutual Funds - Prospectus info Yes No
Mutual Funds - 3rd Party Ratings info Yes No
Mutual Funds - Fees Breakdown info Yes No
Mutual Funds - Top 10 Holdings info Yes No
Mutual Funds - Asset Allocation info Yes No
Mutual Funds - Sector Allocation info Yes No
Mutual Funds - Country Allocation info Yes No
Mutual Funds - StyleMap info Yes No
Options Trading Merrill Edge Robinhood
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes Yes
Option Chains - Streaming info Yes Yes
Option Chains - Total Columns info 68 17
Option Chains - Greeks info 5 5
Option Chains - Quick Analysis info Yes Yes
Option Analysis - P&L Charts info Yes Yes
Option Probability Analysis info Yes No
Option Probability Analysis Adv info No No
Option Positions - Greeks info Yes Yes
Option Positions - Greeks Streaming info Yes Yes
Option Positions - Adv Analysis info Yes No
Option Positions - Rolling info Yes Yes
Option Positions - Grouping info Yes Yes
Banking Merrill Edge Robinhood
Bank (Member FDIC) info Yes No
Checking Accounts info Yes No
Savings Accounts info Yes No
Credit Cards info Yes Yes
Debit Cards info Yes Yes
Mortgage Loans info Yes No
Customer Service Merrill Edge Robinhood
Phone Support (Prospect Customers) info Yes No
Phone Support (Current Customers) info Yes Yes
Email Support info No Yes
Live Chat (Prospect Customers) info Yes No
Live Chat (Current Customers) info Yes Yes
24/7 Support info Yes Yes
Overall Merrill Edge Robinhood
Overall 4.5/5 Stars 4/5 Stars
Range of Investments 4.5/5 Stars 3.5/5 Stars
Platforms & Tools 4/5 Stars 3.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 5/5 Stars 2/5 Stars
Education 4.5/5 Stars 4/5 Stars
Ease Of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Merrill Edge Review Robinhood Review
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