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Merrill Edge vs Robinhood 2025

StockBrokers.com

Written by StockBrokers.com

March 11, 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 it comes to choosing between Merrill Edge and Robinhood for your investment needs, the decision largely hinges on the types of investment options you prioritize. Merrill Edge offers a broader array of investment opportunities, such as stock, margin, and options trading, along with mutual funds and OTC stocks. In contrast, Robinhood excels in providing access to modern investment opportunities like fractional shares and a wide selection of cryptocurrencies, including 22 different coins. Both platforms offer traditional and Roth IRA accounts, but Merrill Edge distinguishes itself with comprehensive advisor services. Based on evaluations, Merrill Edge scores 4.5 out of 5 stars for its range of investments, placing it 7th among 15 brokers, whereas Robinhood receives 3.5 stars, ranking it 12th.

Merrill Edge caters to investors seeking a more traditional portfolio, offering stock trading, mutual funds, OTC stocks, and advisor services to guide investment strategies. It stands out with options and margin trading, appealing to those interested in advanced trading features without venturing into cryptocurrencies. On the other hand, Robinhood appeals to a younger audience or those new to investing by offering user-friendly access to stocks and options as well as fractional shares and cryptocurrency trading. The lack of mutual funds and advisor services might be a drawback for those seeking a traditional approach, but its innovative features make it an attractive option for the tech-savvy investor.

In summary, choosing between Merrill Edge and Robinhood depends on your investment goals and needs. If you value a wide range of traditional investment products and advisor services, Merrill Edge might be the best fit. However, if you're interested in effortlessly trading fractional shares and a variety of cryptocurrencies, Robinhood could be your preferred platform. Both platforms offer unique features that cater to different investor profiles, ensuring a personalized investment 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 clearly stands out in several key areas, earning a higher ranking and rating. With a rating of 4 stars, Merrill Edge is positioned at #6 out of 15 brokers on StockBrokers.com. In contrast, Robinhood, with a rating of 3.5 stars, ranks #9. The main differentiators include the extensive customization options and additional charting features offered by Merrill Edge, making it a more versatile choice for traders looking to enhance their trading experience.

Both Merrill Edge and Robinhood provide browser-based platforms, but neither offers a downloadable platform for Windows or Mac. Importantly, Merrill Edge supports 285 columns for watchlists, dwarfing Robinhood's support of just 3. When it comes to charting, Merrill Edge provides a wealth of options—105 technical indicators and 23 drawing tools, compared to Robinhood's 16 indicators and 23 drawing tools. Merrill Edge also enables users to add notes, index overlays, and display corporate events like earnings and dividends on their charts, features not fully available on Robinhood's platform.

While both platforms allow users to adjust open orders directly on stock charts and set custom date ranges, Merrill Edge offers the ability to show historical trades and automated technical analysis, adding depth to their charting capabilities. Both platforms lack features such as paper trading, trading journals, and the creation of custom studies. Nonetheless, Merrill Edge's comprehensive chart customization, including eight customization fields for SMA studies compared to Robinhood's single field, makes it more appealing for users seeking detailed analytical tools.

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: Best Online Brokerage Accounts for 2025, Best Paper Trading Platforms for 2025

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Beginners and education

When comparing Merrill Edge to Robinhood for investor education, both online brokers commit to providing educational resources for beginners. Merrill Edge and Robinhood both offer a solid foundation with stock and ETF education. However, Merrill Edge surpasses Robinhood by also including education on mutual funds and bonds, areas where Robinhood does not provide resources. Investors seeking options education will find both platforms accommodating, but when it comes to additional learning tools, Merrill Edge shines with its educational videos, quizzes, and webinars, which can help reinforce learning in an interactive manner. While both platforms lack paper trading and the ability to track learning progress, Merrill Edge still offers a more comprehensive learning experience, earning a 4.5-star rating compared to Robinhood's 4 stars for educational support.

StockBrokers.com ranks Merrill Edge as the 5th best choice out of 15 brokers for investor education, highlighting its strong offerings in available educational content. In contrast, Robinhood is positioned at #9, reflecting its slightly limited educational resources. For beginner investors eager to learn about the breadth of financial instruments and engage with different types of learning materials, Merrill Edge emerges as a more well-rounded option. While Robinhood provides fundamental resources, the added depth and interaction available through Merrill Edge make it a more enticing choice for those serious about developing their investment knowledge and skills.

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

When comparing the stock trading capabilities of Merrill Edge and Robinhood apps, both offer unique features and benefits that cater to different types of investors. Merrill Edge provides a comprehensive trading experience with a wealth of technical indicators, a landscape chart view, and the ability to view multiple time frames, making it a strong choice for those who value detailed charting options. Conversely, Robinhood shines with its Apple Watch app support, customizable watchlist columns, and after-hours charting — features that appeal to users seeking convenience and personalization. Both apps sustain a user rating of 4.5 stars, reflecting their respective strengths and generally positive reception among traders, as confirmed by their rankings from StockBrokers.com, where Merrill Edge holds a slightly higher position.

Both Merrill Edge and Robinhood offer essential app services like iPhone and Android compatibility, mobile options trading, streaming quotes, and stock alerts, ensuring users are well-equipped to trade on the go. However, Robinhood pulls ahead in terms of wearable tech integration by offering an Apple Watch app, while Merrill Edge skips this feature. This aspect may sway users who appreciate connectivity across multiple devices.

When diving into charting specifics, Merrill Edge provides a more versatile and technical analysis-friendly platform, featuring 34 technical studies compared to Robinhood’s six, as well as the ability to display stock comparisons directly on charts. However, Robinhood's platform is tailored towards liquidity-lovers with its after-hours charting — a vital tool for reacting to the market outside traditional trading windows. Both apps allow for the creation of custom watchlists, ensuring that regardless of your choice, you'll have the ability to track stocks effectively in line with your trading strategies. Overall, your decision might hinge on whether you prioritize Merrill Edge's in-depth charting tools or Robinhood's flexible, after-hours functionalities.

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 comparing Merrill Edge and Robinhood for market research capabilities, Merrill Edge emerges as the clear winner. It offers extensive resources across multiple investment types, including stocks, ETFs, and mutual funds. Merrill Edge also provides essential tools like a portfolio allocation view, ESG research, and downloadable research reports. On the other hand, Robinhood, while user-friendly, falls short with fewer offerings in areas like mutual funds and bonds research and lacks features like ESG insights and detailed research reports.

Merrill Edge stands out with its comprehensive market research support. It offers detailed insights into stocks, ETFs, mutual funds, and bonds. Importantly, it also provides downloadable PDF reports and a wider array of screeners for trade ideas. This expansive suite of resources is reflected in its high rating of 5 stars for market research, ranking it 5th among 15 brokers as per StockBrokers.com.

Robinhood, known for its easy-to-use platform, does offer stock and ETF research but misses critical elements like mutual funds and bonds research. It also does not provide users with downloadable reports, making it less appealing for those needing in-depth analysis. As a result, it receives a lower market research rating of 2 stars and ranks 10th in the StockBrokers.com listing, indicating room for improvement in this area.

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 15 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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