What is the difference between Merrill Edge and Vanguard?

Merrill Edge offers Roth, traditional IRA, SIMPLE, SEP, and Rollover IRAs. However, Vanguard offers over 16,000 mutual funds in comparison to Merrill Edge's 4,000. One thing that Merrill Edge does differently is active trading. While Vanguard has no active trading interface, Merrill Edge offers MarketPro.

Is Merrill Edge good for beginners?

Both beginners and experienced investors will find things to like about Merrill Edge, such as quality research and decent investment tools . That being said, when compared to other online brokerages, Merrill Edge's tools are hardly top-shelf offerings, and the platform has some significant downsides.

Does Merrill Lynch have a good reputation?

Advisors with Merrill Lynch Wealth Management have received numerous awards for their performance and service in recent years. It placed over 600 advisors on the Forbes list of Best In-State Advisors for 2018 , more than any other company.

Merrill Edge vs Vanguard 2023 (2024)

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Overall Rating	Merrill Edge	Vanguard
Overall
Commissions & Fees
Investment Options
Platforms & Tools
Mobile Trading Apps
Research
Customer Service
Education
Ease Of Use
Winner	check_circle
Review	Merrill Edge Review	Vanguard Review

Trading Fees	Merrill Edge	Vanguard
Minimum Deposit	$0.00	$0.00
Stock Trades	$0.00	$0.00
Penny Stock Fees (OTC)	N/A	$0.00
Mutual Fund Trade Fee	$19.95	Varies
Options (Base Fee)	$0.00	$0.00
Options (Per Contract)	$0.65	$1.00
Futures (Per Contract)	N/A	N/A
Broker Assisted Trade Fee	$29.95	$25

Margin Rates	Merrill Edge	Vanguard
Margin Rate Under $25,000	Varies	13.25% info
Margin Rate $25,000 to $49,999.99	Varies	12.75%
Margin Rate $50,000 to $99,999.99	Varies	12.25%
Margin Rate $100,000 to $249,999.99	Varies	11.75%
Margin Rate $250,000 to $499,999.99	Varies	11.25%
Margin Rate $500,000 to $999,999.99	Varies	10.00%
Margin Rate Above $1,000,000	Varies	Varies info

Account Fees	Merrill Edge	Vanguard
IRA Annual Fee	$0.00	$20.00
IRA Closure Fee	$49.95	$0.00
Account Transfer Out (Partial)	$0.00	$0.00
Account Transfer Out (Full)	$49.95	$0.00
Options Exercise Fee	$0.00	$0.00
Options Assignment Fee	$0.00	$0.00

Investment Options	Merrill Edge	Vanguard
Stock Trading	Yes	Yes
Margin Trading	Yes	Yes
Fractional Shares	No	No
OTC Stocks	Yes	Yes
Options Trading	Yes	Yes
Complex Options Max Legs	4	4
Futures Trading	No	No
Forex Trading	No	No
Crypto Trading	No	No
Crypto Trading - Total Coins	0	0
Mutual Funds (No Load)	2952	N/A
Mutual Funds (Total)	3466	N/A
Bonds (US Treasury)	Yes	Yes
Bonds (Corporate)	Yes	Yes
Bonds (Municipal)	Yes	Yes
Advisor Services	Yes	Yes
International Countries (Stocks)	0	0

Order Types	Merrill Edge	Vanguard
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	No
Order Type - OCO	No	No
Order Type - OTO	No	No
Order Type - Broker Assisted	Yes	Yes

Beginners	Merrill Edge	Vanguard
Education (Stocks)	Yes	Yes
Education (ETFs)	Yes	No
Education (Options)	Yes	No
Education (Mutual Funds)	Yes	No
Education (Bonds)	Yes	No
Education (Retirement)	Yes	Yes
Retirement Calculator	Yes	Yes
Investor Dictionary	Yes	No
Paper Trading	No	No
Videos	Yes	Yes
Webinars	Yes	No
Webinars (Archived)	Yes	No
Progress Tracking	No	No
Interactive Learning - Quizzes	Yes	No

Stock Trading Apps	Merrill Edge	Vanguard
iPhone App	Yes	Yes
Android App	Yes	Yes
Apple Watch App	Yes	No
Trading - Stocks	Yes	Yes
Trading - After-Hours	Yes	No
Trading - Simple Options	Yes	No
Trading - Complex Options	Yes	No
Order Ticket RT Quotes	Yes	Yes
Order Ticket SRT Quotes	No	No
SB Gallery - Mobile Apps

Stock App Features	Merrill Edge	Vanguard
Market Movers (Top Gainers)	Yes	No
Stream Live TV	No	No
Videos on Demand	No	No
Stock Alerts	Yes	No
Option Chains Viewable	Yes	No
Watch List (Real-time)	Yes	No
Watch List (Streaming)	Yes	No
Watch Lists - Create & Manage	Yes	No
Watch Lists - Column Customization	No	No
Watch Lists - Total Fields	285	9

Stock App Charting	Merrill Edge	Vanguard
Charting - After-Hours	No	No
Charting - Can Turn Horizontally	Yes	No
Charting - Multiple Time Frames	Yes	Yes
Charting - Technical Studies	34	0
Charting - Study Customizations	Yes	No
Charting - Stock Comparisons	Yes	No

Trading Platforms	Merrill Edge	Vanguard
Active Trading Platform	Merrill Edge Market Pro	N/A
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	9

Stock Chart Features	Merrill Edge	Vanguard
Charting - Adjust Trades on Chart	Yes	No
Charting - Indicators / Studies	104	9
Charting - Drawing Tools	23	0
Charting - Notes	Yes	No
Charting - Index Overlays	Yes	Yes
Charting - Historical Trades	Yes	No
Charting - Corporate Events	Yes	Yes
Charting - Custom Date Range	Yes	No
Charting - Custom Time Bars	Yes	No
Charting - Automated Analysis	Yes	No
Charting - Save Profiles	Yes	No
Trade Ideas - Technical Analysis	Yes	No
Charting - Study Customizations	8	1
Charting - Custom Studies	No	No

Day Trading	Merrill Edge	Vanguard
Streaming Time & Sales	Yes	No
Streaming TV	No	No
Direct Market Routing - Stocks	No	No
Ladder Trading	No	No
Trade Hot Keys	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	Vanguard
Research - Stocks	Yes	Yes
Research - ETFs	Yes	Yes
Research - Mutual Funds	Yes	Yes
Research - Pink Sheets / OTCBB	Yes	Yes
Research - Bonds	Yes	Yes
Screener - Stocks	Yes	Yes
Screener - ETFs	Yes	Yes
Screener - Mutual Funds	Yes	Yes
Screener - Bonds	Yes	Yes
Misc - Portfolio Allocation	Yes	Yes

Stock Research	Merrill Edge	Vanguard
Stock Research - PDF Reports	3	2
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	Vanguard
ETFs - Strategy Overview	Yes	No
ETF Fund Facts - Inception Date	Yes	No
ETF Fund Facts - Expense Ratio	Yes	No
ETF Fund Facts - Net Assets	Yes	No
ETF Fund Facts - Total Holdings	Yes	No
ETFs - Top 10 Holdings	Yes	No
ETFs - Sector Exposure	Yes	No
ETFs - Risk Analysis	Yes	No
ETFs - Ratings	Yes	No
ETFs - Morningstar StyleMap	Yes	No
ETFs - PDF Reports	Yes	No

Mutual Fund Research	Merrill Edge	Vanguard
Mutual Funds - Strategy Overview	Yes	Yes
Mutual Funds - Performance Chart	Yes	Yes
Mutual Funds - Performance Analysis	Yes	Yes
Mutual Funds - Prospectus	Yes	Yes
Mutual Funds - 3rd Party Ratings	Yes	No
Mutual Funds - Fees Breakdown	Yes	Yes
Mutual Funds - Top 10 Holdings	Yes	Yes
Mutual Funds - Asset Allocation	Yes	No
Mutual Funds - Sector Allocation	Yes	Yes
Mutual Funds - Country Allocation	Yes	No
Mutual Funds - StyleMap	Yes	Yes

Options Trading	Merrill Edge	Vanguard
Option Chains - Basic View	Yes	Yes
Option Chains - Strategy View	Yes	No
Option Chains - Streaming	Yes	No
Option Chains - Total Columns	68	9
Option Chains - Greeks	5	0
Option Chains - Quick Analysis	Yes	No
Option Analysis - P&L Charts	Yes	No
Option Probability Analysis	Yes	No
Option Probability Analysis Adv	No	No
Option Positions - Greeks	Yes	No
Option Positions - Greeks Streaming	Yes	No
Option Positions - Adv Analysis	Yes	No
Option Positions - Rolling	Yes	No
Option Positions - Grouping	Yes	No

Banking	Merrill Edge	Vanguard
Bank (Member FDIC)	Yes	No
Checking Accounts	Yes	No
Savings Accounts	Yes	No
Credit Cards	Yes	No
Debit Cards	Yes	No
Mortgage Loans	Yes	No

Customer Service	Merrill Edge	Vanguard
Phone Support (Prospect Customers)	No	Yes
Phone Support (Current Customers)	Yes	Yes
Email Support	Yes	Yes
Live Chat (Prospect Customers)	Yes	No
Live Chat (Current Customers)	Yes	No
24/7 Support	Yes	No

Overall	Merrill Edge	Vanguard
Overall
Commissions & Fees
Investment Options
Platforms & Tools
Mobile Trading Apps
Research
Education
Ease Of Use
Winner	check_circle
Review	Merrill Edge Review	Vanguard Review

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check_box_outline_blankcheck_boxCharles Schwab
check_box_outline_blankcheck_boxE*TRADE
check_box_outline_blankcheck_boxeToro
check_box_outline_blankcheck_boxFidelity
check_box_outline_blankcheck_boxFirstrade
check_box_outline_blankcheck_boxInteractive Brokers
check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
check_box_outline_blankcheck_boxMerrill Edge
check_box_outline_blankcheck_boxRobinhood
check_box_outline_blankcheck_boxSofi Invest
check_box_outline_blankcheck_boxtastytrade
check_box_outline_blankcheck_boxTD Ameritrade
check_box_outline_blankcheck_boxTradeStation
check_box_outline_blankcheck_boxTradier
check_box_outline_blankcheck_boxVanguard
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Merrill Edge vs Vanguard Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Merrill Edge vs Vanguard.

Is Merrill Edge or Vanguard better for beginners?

Merrill Edge offers more comprehensive new investor education for beginner investors than Vanguard. Merrill Edge offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while Vanguard offers investors access to Videos, Education (Stocks) and Education (Retirement). Neither have Paper Trading. See our guide to Best Paper Trading Platforms for more.

What about Merrill Edge vs Vanguard pricing?

Merrill Edge and Vanguard charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Vanguard, costing $1.00 per contract versus $0.65 per contract at Merrill Edge. For a complete commissions summary, see our best brokers for free stock trading guide.

Does Merrill Edge or Vanguard offer a wider range of investment options?

Both Merrill Edge and Vanguard offer Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Advisor Services. Neither have Fractional Shares, Futures Trading and Forex Trading. Looking at Mutual Funds, Vanguard trails Merrill Edge in its offering of no transaction fee (NTF) mutual funds, with Merrill Edge offering 3095 and Vanguard offering .

Which trading platform is better: Merrill Edge or Vanguard?

To compare the trading platforms of Merrill Edge and Vanguard, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Merrill Edge offers a better experience. With research, Merrill Edge offers superior market research. Finally, we found Merrill Edge to provide better mobile trading apps.

Does either broker offer banking?

Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Merrill Edge while Vanguard offers neither of these.

Is Merrill Edge good?

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.

Is Vanguard good?

Vanguard is aimed squarely at buy-and-hold investors, and its platform reflects that focus. Vanguard is known for its low-cost funds, and the investment platform is really built for those looking to invest solely in mutual funds and ETFs.

Merrill Edge vs Vanguard Winner

Overall winner: Merrill Edge

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