Fidelity vs. Merrill Edge: they are two of the most popular online brokerages. Fidelity is a full-service broker that offers a wide range of investment products and services. Merrill Edge is a discount broker that offers fewer investment options but lower fees.
Both brokers have strong reputations and are good choices for investors. Fidelity Investments and Merrill Edge they both offer a variety of investment options and have different strengths. Here’s a look at how they compare.
Fidelity Investments
Fidelity Investments is best for:
- Beginner investors.
- Frequent traders.
- Research and data.
- Customer support
- Retirement planning assistance.
Fidelity aims to keep costs low, and it offers great resources that help investors analyze and manage their portfolios. Fidelity is constantly enhancing its systems to offer more comfort to investors and traders. Commission Fees: $0 (stock / ETF), $0.65/contract (options). Account Fees: $0. Account minimum: $0. Securities: Stocks, ETFs, bonds, mutual funds, options.
Pros
Commission-free.
No account minimum.
Great mobile app (App Store, Google Play).
Strong customer service: Phone 24/7, email, live chat.
Rich educational offerings.
Cons
High broker-assisted trade fee.
Non-U.S. citizens or residents cannot open an account.
No cryptocurrencies available.
» Read our full review of Fidelity.
Merrill Edge
Merrill Edge is best for:
- Existing Bank of America customers.
- High-balance customers.
- Research and data.
- Customer support.
J.P. Morgan Self-Directed Investing Platform handles the basics well is a solid choice for investors who are considering brokering. You will not be charged any commission fees for stocks and ETFs. Commission Fees: $0 (stock / ETF), $0.65/contract (options). Account minimum: $0. Account Fees: $49.95 full transfer fee, $49.95 closeout fees on retirement accounts. Securities: Stocks, ETFs, options, mutual funds, bonds.
Pros
Commission-free stock and ETF trades.
No account minimum.
Merrill Edge app (App Store, Google Play).
Customer support: Phone 24/7, access to an advisor.
Integration with Bank of America
Cons
No crypto, forex or futures trading.
No fractional shares (buying stocks)
» Read our full review of Merrill Edge.
Fidelity vs. Merrill Edge: Which Is Better For You?
Fidelity Investments offers a wide range of investment options, from stocks and mutual funds to bonds and annuities. It also has extensive research resources, including analyst reports and market data. And its customer service is highly rated.
Merrill Edge, meanwhile, offers lower commissions for online trades than Fidelity. It also has some unique tools, such as an app that lets you set up automatic investments based on your spending patterns. And it offers access to human financial advisors via phone or chat at no additional cost.
So, which one is right for you? It depends on your individual needs and preferences. If you’re looking for low fees and great customer service, Fidelity is a good choice. But if you want more investment options, Merrill Edge may be a better option.
Related with Broker Comparison
» Compare more options: View our list of best online brokers for stock trading.