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Merrill Edge vs Tradier 2024

StockBrokers.com

Written by StockBrokers.com

October 30, 2024

In this head to head comparison of Merrill Edge vs Tradier, we will compare the trading platforms, mobile apps, investment options, 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
Tradier
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.35 info

Investment options

When evaluating online brokers Merrill Edge and Tradier, Merrill Edge positions itself a notch higher with its broader range of investment offerings. Merrill Edge is distinguished by its capability to trade in OTC stocks and provide advisor services, earning it a 4.5-star rating for investment options and a #7 ranking by StockBrokers.com among 18 brokers. Tradier, on the other hand, holds a commendable 4-star rating and a #13 ranking, making it a solid option yet slightly limited in scope compared to Merrill Edge.

Both Merrill Edge and Tradier provide robust stock trading capabilities, margin trading, and options trading for investors. They offer accounts like traditional and Roth IRAs, allowing for strategic retirement planning. However, neither platform supports fractional shares trading, forex trading, futures trading, or cryptocurrency trading, making them more traditional in their investment scope compared to newer entrants in the brokerage field.

The availability of mutual funds on both platforms enhances their investment solutions, catering to a broad audience with varying investment strategies. While Tradier may lack the option of trading OTC stocks and offering advisor services, it remains a formidable choice for standard trading activities. Meanwhile, Merrill Edge's additional offerings and higher ratings highlight its appeal to investors seeking a more comprehensive service.

Feature Merrill Edge logoMerrill Edge
Tradier logoTradier
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info No No
OTC Stocks info Yes No
Mutual Funds info Yes Yes
Options Trading info Yes Yes
Futures Trading info No No
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Investment Options 4.5/5 Stars 4/5 Stars

Dive deeper: Best Options Trading Platforms & Brokers, 5 Best Futures Trading Platforms of 2024

Trading platforms and tools

When weighing the strengths and weaknesses of Merrill Edge and Tradier for trading platforms and tools, Merrill Edge emerges as the superior choice with a 4.5-star rating compared to Tradier's 3.5 stars. Ranked 5th out of 18 brokers by StockBrokers.com for its trading platforms and tools, Merrill Edge surpasses Tradier, which places at 10th. Key differentiators in Merrill Edge’s favor include enhanced charting capabilities, a comprehensive selection of technical indicators, and customizable features that favor intermediate to advanced traders.

Merrill Edge and Tradier both deliver browser-based trading platforms, but neither provides downloadable software for Windows or Mac, limiting users to online interactions. Where the two diverge significantly is in their range of functionalities. Merrill Edge offers a broad array of 104 technical indicators and 23 drawing tools, along with features allowing users to adjust open orders directly on stock charts, create custom date ranges, and display corporate events like earnings and dividends. Tradier, in comparison, lacks these advanced charting options, although it does offer paper trading—a feature Merrill Edge does not provide.

For traders who prioritize analysis and customization, Merrill Edge stands out with its 285 watch list fields and the ability to integrate elements such as index overlays on charts and automated technical analysis. Tradier, albeit competitive with its basic offerings and the ability to add notes to charts, still trails in terms of complex features and customization. Despite these differences, both platforms lack downloadable desktop software and the capability to create custom chart studies, indicating areas for future development.

Feature Merrill Edge logoMerrill Edge
Tradier logoTradier
Web Trading Platform info Yes Yes
Desktop Trading Platform info No No info
Desktop Platform (Mac) info No No info
Paper Trading info No Yes
Watch Lists - Total Fields info 285 3
Charting - Indicators / Studies info 104 95
Charting - Drawing Tools info 23 0
Platforms & Tools 4.5/5 Stars 3.5/5 Stars

Dive deeper: Best Stock Brokers for 2024, Best Paper Trading Platforms of 2024

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Beginners and education

When comparing Merrill Edge and Tradier for beginner and investor education capabilities, Merrill Edge emerges as a comprehensive resource, offering robust educational tools across multiple investment forms. It provides education on stocks, ETFs, options, mutual funds, and bonds. Furthermore, Merrill Edge enriches the learning experience with educational videos, webinars, and quizzes, though it does not offer paper trading or track learning progress. Such a diverse suite of educational resources garners Merrill Edge a 5-star rating in education and a commendable #2 ranking out of 18 brokers by StockBrokers.com.

On the other hand, Tradier provides basic educational resources, reflected in its offerings where education on stocks, ETFs, options, mutual funds, and bonds is notably absent. Although Tradier does offer paper trading to simulate real-market conditions, it lacks the educational videos, webinars, and quizzes that can significantly enhance beginner learning. Without options to track educational progress and limited resources overall, Tradier receives a 2-star education rating and is positioned #17 out of 18 in StockBrokers.com's ranking for educational services. For investors prioritizing education, Merrill Edge provides a more comprehensive and resource-rich educational experience than Tradier.

Feature Merrill Edge logoMerrill Edge
Tradier logoTradier
Education (Stocks) info Yes No
Education (ETFs) info Yes No
Education (Options) info Yes No
Education (Mutual Funds) info Yes No
Education (Bonds) info Yes No
Paper Trading info No Yes
Videos info Yes No
Webinars info Yes No
Education 5/5 Stars 2/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2024

Stock trading apps

Both Merrill Edge and Tradier provide robust stock trading apps with a variety of features, but Merrill Edge holds a competitive edge that enhances the overall user experience. Merrill Edge shines with its comprehensive app offerings and superior stock trading app rating of 5 stars compared to Tradier's 4 stars. Furthermore, its ranking by StockBrokers.com as #5 out of 18 brokers truly reflects its enhanced capabilities, standing well above Tradier's #15 ranking.

When it comes to mobile application availability, both Merrill Edge and Tradier offer iPhone and Android apps, facilitating seamless trading on popular smartphone platforms. They both lack Apple Watch apps, but users can participate in mobile after-hours stock trading and engage in mobile options trading. For traders, streaming quotes are available on both platforms, although neither offers streaming live TV or videos on demand. The ability to create custom watch lists is present in both apps, although neither supports column customization in these lists.

In terms of charting capabilities, Merrill Edge distinctly surpasses Tradier. It offers 34 technical studies in its mobile app compared to none in Tradier’s app. Moreover, Merrill Edge supports viewing charts in landscape mode, whereas Tradier does not offer this feature. Both platforms allow users to view multiple time frames on mobile app charts, but only Merrill Edge facilitates stock comparisons directly on the charts. With the added benefit of stock alerts, Merrill Edge provides a more comprehensive toolkit for traders, establishing a clear advantage in app-based stock trading.

Feature Merrill Edge logoMerrill Edge
Tradier logoTradier
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Stock Alerts info Yes No
Charting - After-Hours info No No
Charting - Technical Studies info 34 0
Mobile Trading Apps 5/5 Stars 4/5 Stars

Dive deeper: Best Stock Trading Apps of 2024

Fees

For traders and investors considering their online brokerage options, understanding the fee structures of Merrill Edge and Tradier is essential. Both platforms boast $0.00 minimum deposits and offer commission-free stock trades, making them accessible to beginners and seasoned traders alike. However, when diving deeper into specific fees, Merrill Edge generally presents a more cost-effective option for most investors, especially those focusing on retirement accounts and considering transfers. In contrast, while Tradier offers lower options contract fees at $0.35 compared to Merrill Edge's $0.65, it falls short on other charges such as IRA fees and transfer fees.

Merrill Edge distinguishes itself with a comprehensive fee waiver for a variety of services. They charge no fees for IRA accounts, whether opened or closed, and ensure seamless transfers without additional ACAT fees, both partial and full. They also offer margin balance rates that fluctuate based on the market. Importantly, Merrill Edge provides free options exercise and assignment, potentially saving significant money for active options traders. On the other hand, Tradier imposes a $30 annual IRA fee and a somewhat steeper ACAT fee of $75 for both partial and full transfers. Additionally, investors must consider Tradier’s standard $9.00 options exercise and assignment fees, which could add up over time.

While both platforms offer compelling services, the choice ultimately hinges on the specifics of your trading strategy and preferences. If you prioritize reduced options trading costs and do not frequently engage in account migrations or IRA management, Tradier could align well with your financial strategy. Meanwhile, investors seeking a broader reduction in account management fees and improved flexibility in transferring accounts or managing retirement funds would find Merrill Edge's offerings more advantageous. Each investor must weigh these considerations to determine the brokerage that best suits their financial needs.

Feature Merrill Edge logoMerrill Edge
Tradier logoTradier
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Options (Per Contract) $0.65 $0.35 info
Options Exercise Fee $0.00 $9.00
Options Assignment Fee $0.00 $9.00
IRA Annual Fee $0.00 $30.00 info
IRA Closure Fee $49.95 $60.00
Commissions & Fees 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Brokers for Free Stock Trading of 2024

Day Trading

When it comes to evaluating the day trading capabilities of Merrill Edge versus Tradier, several distinctions stand out. Merrill Edge offers streaming time and sales for stocks, a feature absent from Tradier, giving traders a real-time edge with access to detailed transaction data. Furthermore, Merrill Edge provides Level 2 quotes, offering deeper insights into stock price movements, which Tradier does not offer. An additional advantage of Merrill Edge is its basic strategy backtesting tool, enabling traders to simulate trades using historical data and refine their strategies—again, a feature not available with Tradier. However, both platforms share limitations such as the lack of streaming live TV, direct market routing, ladder trading, and keyboard trade entry hotkeys, which might deter more advanced traders.

Neither Merrill Edge nor Tradier supports advanced strategy backtesting, and both lack a short locator tool, which could provide real-time availability of shares available for short selling. Additionally, neither broker offers order liquidity (maker/taker) rebates, which could affect the cost-effectiveness of trading operations. Overall, while Merrill Edge provides some additional functionalities beneficial for day trading compared to Tradier, both platforms may fall short in offering the comprehensive tools often sought by high-frequency or advanced day traders.

Feature Merrill Edge logoMerrill Edge
Tradier logoTradier
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
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info No No
Short Locator info No No

Dive deeper: Best Day Trading Platforms of 2024

Market Research

When comparing Merrill Edge and Tradier for their market research capabilities, Merrill Edge distinctly stands out as the more comprehensive platform. It boasts a robust selection of research tools, including stock, ETF, mutual fund, and bond research, while also offering insights into Pink Sheets and OTCBB markets. It provides clients the unique ability to see portfolio allocation by asset class, and taps into ESG factors. Meanwhile, Tradier falls short, lacking several key research features such as mutual fund and bond research, and does not provide tools for assessing portfolio allocation.

Merrill Edge further strengthens its market research offerings with accessible downloadable PDF reports for stocks, ETFs, and mutual funds. It also delivers a suite of screeners across stocks, ETFs, mutual funds, and bonds, catering to a wide array of investor interests and trade ideas. Tradier, in contrast, does not offer any downloadable research reports or screening tools, which significantly limits its capacity as a research-focused platform for investors.

In terms of ratings, Merrill Edge receives a stellar five stars for its market research capabilities and holds an impressive rank of 4th out of 18 brokers according to StockBrokers.com. Tradier, by comparison, is rated at 2.5 stars and is positioned 16th on the same list, reflecting its limited research functionalities. While Merrill Edge clearly offers a more enriched research experience, investors must weigh these differences based on their unique research needs.

Feature Merrill Edge logoMerrill Edge
Tradier logoTradier
Research - Stocks info Yes Yes
Screener - Stocks info Yes No
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 2.5/5 Stars

Banking

When comparing the banking capabilities of online brokers Merrill Edge and Tradier, Merrill Edge emerges as the more comprehensive option. Merrill Edge offers a full range of banking products, including checking and savings accounts, debit and credit cards, mortgage loans, and Certificates of Deposit (CDs). In contrast, Tradier does not provide any of these banking services, focusing solely on investment account offerings. For users who prioritize integrated banking solutions alongside their trading activities, Merrill Edge's suite of banking products offers convenience and versatility that Tradier does not match.

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

Dive deeper: Best Bank Brokerages of 2024

Winner

After opening live accounts and testing 18 of the best online brokers, our research and live account testing finds that Merrill Edge is better than Tradier. Merrill Edge finished with an overall score of 94.0%, while Tradier finished with a score of 77.0%.

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 Tradier?

Both Merrill Edge and Tradier do not offer crypto trading, with each providing access to zero coins for crypto trading enthusiasts. When choosing between the two for your investment needs, it's essential to consider other features and services since crypto trading options are not available with either broker.

Dive deeper: Best Crypto Trading Platforms of 2024

Does Merrill Edge or Tradier offer IRAs?

Both Merrill Edge and Tradier offer traditional and Roth IRA accounts; however, Merrill Edge stands out with no annual fees for IRA accounts, in contrast to Tradier's $30 annual fee. Additionally, Merrill Edge's IRA closure fee is $49.95, which is slightly lower than Tradier's $60 closure fee.

Dive deeper: Best IRA Accounts of 2024

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Compare

0 of 5
Overall Rating Merrill Edge Tradier
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4/5 Stars
Platforms & Tools 4.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 5/5 Stars 4/5 Stars
Research 5/5 Stars 2.5/5 Stars
Customer Service 4.0/5 Stars 3.5/5 Stars
Education 5/5 Stars 2/5 Stars
Ease Of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Merrill Edge Review Tradier Review
Broker Screenshots Merrill Edge Tradier
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 Tradier
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) info N/A N/A
Mutual Fund Trade Fee Varies info $30 info
Options (Per Contract) $0.65 $0.35 info
Futures (Per Contract) (Not offered) (Not offered)
Broker Assisted Trade Fee $29.95 $10
Margin Rates Merrill Edge Tradier
Margin Rate Under $25,000 Varies info 9.5%
Margin Rate $25,000 to $49,999.99 Varies info 9.5%
Margin Rate $50,000 to $99,999.99 Varies info 9.5%
Margin Rate $100,000 to $249,999.99 Varies info 9.5%
Margin Rate $250,000 to $499,999.99 Varies info 9.5%
Margin Rate $500,000 to $999,999.99 Varies info 9.5%
Margin Rate Above $1,000,000 Varies info 9.5%
Account Fees Merrill Edge Tradier
IRA Annual Fee $0.00 $30.00 info
IRA Closure Fee $49.95 $60.00
Account Transfer Out (Partial) info $0.00 $75.00
Account Transfer Out (Full) info $0.00 $75.00
Options Exercise Fee $0.00 $9.00
Options Assignment Fee $0.00 $9.00
Investment Options Merrill Edge Tradier
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info No No
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 No
Crypto Trading - Total Coins info 0 0
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 Tradier
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 No
Order Type - OCO info No Yes
Order Type - OTO info No Yes
Order Type - Broker Assisted info Yes Yes
Beginners Merrill Edge Tradier
Education (Stocks) info Yes No
Education (ETFs) info Yes No
Education (Options) info Yes No
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 No
Paper Trading info No Yes
Videos info Yes No
Webinars info Yes No
Webinars (Archived) info Yes No
Progress Tracking info No No
Interactive Learning - Quizzes info Yes No
Stock Trading Apps Merrill Edge Tradier
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
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 No
Stock App Features Merrill Edge Tradier
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No No
Videos on Demand info No No
Stock Alerts info Yes No
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes No
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info No No
Stock App Charting Merrill Edge Tradier
Charting - After-Hours info No No
Charting - Can Turn Horizontally info Yes No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 34 0
Charting - Study Customizations info Yes No
Charting - Stock Comparisons info Yes No
Trading Platforms Merrill Edge Tradier
Active Trading Platform info Merrill Edge Market Pro TradeHawk
Desktop Trading Platform info No No info
Desktop Platform (Mac) info No No info
Web Trading Platform info Yes Yes
Paper Trading info No Yes
Trade Journal info No No
Watch Lists - Total Fields info 285 3
Stock Chart Features Merrill Edge Tradier
Charting - Adjust Trades on Chart info Yes No
Charting - Indicators / Studies info 104 95
Charting - Drawing Tools info 23 0
Charting - Notes info Yes Yes
Charting - Index Overlays info Yes No
Charting - Historical Trades info Yes Yes
Charting - Corporate Events info Yes No
Charting - Custom Date Range info Yes No
Charting - Custom Time Bars info Yes No
Charting - Automated Analysis info Yes No
Charting - Save Profiles info Yes No
Trade Ideas - Technical Analysis info Yes No
Charting - Study Customizations info 8 7
Charting - Custom Studies info No No
Day Trading Merrill Edge Tradier
Streaming Time & Sales info Yes No
Streaming TV info No No
Direct Market Routing - Stocks info No No
Ladder Trading info No No
Trade Hotkeys info No No
Level 2 Quotes - Stocks info Yes No
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 Tradier
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes No
Research - Pink Sheets / OTCBB info Yes No
Research - Bonds info Yes No
Screener - Stocks info Yes No
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 Tradier
Stock Research - PDF Reports info 3 0
Stock Research - Earnings info Yes No
Stock Research - Insiders info Yes No
Stock Research - Social info No No
Stock Research - News info Yes No
Stock Research - ESG info Yes No
Stock Research - SEC Filings info Yes No
ETF Research Merrill Edge Tradier
ETFs - Strategy Overview info Yes No
ETF Fund Facts - Inception Date info Yes No
ETF Fund Facts - Expense Ratio info Yes No
ETF Fund Facts - Net Assets info Yes No
ETF Fund Facts - Total Holdings info Yes No
ETFs - Top 10 Holdings info Yes No
ETFs - Sector Exposure info Yes No
ETFs - Risk Analysis info Yes No
ETFs - Ratings info Yes No
ETFs - Morningstar StyleMap info Yes No
ETFs - PDF Reports info Yes No
Mutual Fund Research Merrill Edge Tradier
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 Tradier
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes No
Option Chains - Streaming info Yes No
Option Chains - Total Columns info 68 8
Option Chains - Greeks info 5 1
Option Chains - Quick Analysis info Yes Yes
Option Analysis - P&L Charts info Yes No
Option Probability Analysis info Yes No
Option Probability Analysis Adv info No No
Option Positions - Greeks info Yes No
Option Positions - Greeks Streaming info Yes No
Option Positions - Adv Analysis info Yes No
Option Positions - Rolling info Yes No
Option Positions - Grouping info Yes No
Banking Merrill Edge Tradier
Bank (Member FDIC) info Yes No
Checking Accounts info Yes No
Savings Accounts info Yes No
Credit Cards info Yes No
Debit Cards info Yes No
Mortgage Loans info Yes No
Customer Service Merrill Edge Tradier
Phone Support (Prospect Customers) info No Yes
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 No
24/7 Support info Yes No
Overall Merrill Edge Tradier
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4/5 Stars
Platforms & Tools 4.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 5/5 Stars 4/5 Stars
Research 5/5 Stars 2.5/5 Stars
Education 5/5 Stars 2/5 Stars
Ease Of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Merrill Edge Review Tradier Review
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