E*TRADE
SEC/FINRA
Merrill Edge
SEC/FINRA
E*TRADE vs Merrill Edge
Head-to-Head Comparison 2026
By SofiaOur Verdict
On core costs E*TRADE and Merrill Edge are essentially identical: both charge $0 commission on stocks and ETFs and $0.65 per options contract. The difference is in focus. E*TRADE (rated 4.3/5, part of Morgan Stanley) offers one of the market's strongest options platforms in Power E*TRADE and cuts the options fee to $0.50 from 30+ trades per quarter — plus futures are tradable. Merrill Edge (4.1/5, part of Bank of America) instead scores with seamless banking integration, Merrill Lynch research and the Preferred Rewards program, but offers no futures. For active options traders E*TRADE is usually the better pick; for Bank of America customers, Merrill Edge.
Comparison Table
| Criteria | E*TRADE | Merrill Edge |
|---|---|---|
| Rating | 4.3/5 (1900 reviews)✓ | 4.1/5 (1500 reviews) |
| Regulation | SEC/FINRA | SEC/FINRA |
| Fees | $0 commission on stocks and ETFs, options $0.65 per contract ($0.50 for 30+ trades) | $0 commission on stocks and ETFs, options $0.65 per contract |
| Min. Deposit | 0 $ | 0 $ |
| Instruments | Stocks, ETFs, Options, Bonds, Mutual Funds, Futures | Stocks, ETFs, Options, Bonds, Mutual Funds |
| Platforms | E*TRADE Web, Power E*TRADE, E*TRADE App | Merrill Edge Web, Merrill Edge App, MarketPro |
| Options Trading | Yes, comprehensive options trading with Power E*TRADE | Yes, US options available |
| Execution Speed | ~40 ms (Power E*TRADE Routing) | ~30 ms (via BofA routing infrastructure) |
| Founded | 1982 | 2010 |
| Headquarters | New York | New York |
Detailed Comparison
Fee Comparison
E*TRADE: $0 commission on stocks and ETFs, options $0.65 per contract ($0.50 for 30+ trades). Minimum deposit: 0 $.
Merrill Edge: $0 commission on stocks and ETFs, options $0.65 per contract. Minimum deposit: 0 $.
Execution Quality
E*TRADE
Execution: ~40 ms (Power E*TRADE Routing)
Merrill Edge
Execution: ~30 ms (via BofA routing infrastructure)
Product Range
E*TRADE (6 categories)
Merrill Edge (5 categories)
Trading Platforms
E*TRADE
- E*TRADE Web
- Power E*TRADE
- E*TRADE App
Merrill Edge
- Merrill Edge Web
- Merrill Edge App
- MarketPro
Regulation & Security
E*TRADE is regulated by SEC/FINRA (HQ: New York).
Merrill Edge is regulated by SEC/FINRA (HQ: New York).
Who Is It For?
E*TRADE
Established US broker by Morgan Stanley with strong options platform
✓ Power E*TRADE – excellent options platform
✓ Commission-free stock and ETF trading
✓ Part of Morgan Stanley – high security
✗ Only available for US customers
✗ International markets not available
Merrill Edge
Online broker by Bank of America with integrated banking
✓ Seamless integration with Bank of America
✓ Commission-free stock and ETF trading
✓ Access to Merrill Lynch research
✗ Only available for US customers
✗ MarketPro platform less powerful than competitors
In-Depth Analysis: E*TRADE vs Merrill Edge
Costs: On stocks and ETFs both brokers charge $0 commission, and options cost $0.65 per contract at each. E*TRADE lowers the options fee to $0.50 per contract for active traders making more than 30 trades per quarter — Merrill Edge offers no such volume-based discount. Minimum deposit is $0 at both.
Products and platforms: E*TRADE covers stocks, ETFs, options, bonds, mutual funds and futures, whereas Merrill Edge is limited to stocks, ETFs, options, bonds and mutual funds — per the broker data, futures and forex are not tradable. For analysis E*TRADE offers the options-focused Power E*TRADE platform, while Merrill Edge provides MarketPro for active traders, which the data notes is less powerful.
Ecosystem: Both are SEC/FINRA-regulated and part of large US institutions — E*TRADE belongs to Morgan Stanley, Merrill Edge to Bank of America. Merrill's strongest card is the tie-in with the Bank of America account, Merrill Lynch research and Preferred Rewards perks. Ratings: E*TRADE 4.3/5, Merrill Edge 4.1/5. Both offerings are available to US customers only.
Frequently Asked Questions
Is E*TRADE or Merrill Edge cheaper?
Which broker offers more products: E*TRADE or Merrill Edge?
Which broker is better regulated?
Is E*TRADE or Merrill Edge better for beginners?
E*TRADE vs Merrill Edge: Which broker is better overall?
E*TRADE
Established US broker by Morgan Stanley with strong options platform
Open Account →From 0 $ min. deposit
Merrill Edge
Online broker by Bank of America with integrated banking
Open Account →From 0 $ min. deposit