Updated September 29, 2026 · BrokerCue Editorial Team
Merrill Edge vs Robinhood
Merrill Edge vs Robinhood: the differences
| Compare |  Merrill Edge |  Robinhood |
|---|---|---|
| Markets | Stocks, ETFs, Options, Bonds, Funds | Stocks, ETFs, Options, Futures, Crypto |
| Regulators | FINRA, SEC | Bank of Lithuania (LSC), LT BL, SIPC |
| Investor protection | SIPC up to USD 500,000 | EU ICS up to EUR 20,000 |
| Options contract fee | $0.65 | $0Lower |
| Platforms | Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app | Robinhood app, Robinhood Legend |
| Account types | IRA, Roth IRA, Joint, CorporateCovers more | IRA, Roth IRA, Joint |
| Margin rate | Not confirmed | 3.95% |
| Deposit and withdrawal fees | Not confirmed | $100 outgoing transfer |
| Maximum retail leverage | Not confirmed | 10X |
Same on both: Minimum deposit ($0), Stock trade fee ($0), Account fee ($0), Inactivity fee ($0).
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Key differences
- Merrill Edge scores higher overall: 9.5 vs 9.4.
- Regulators: only Merrill Edge offers FINRA, SEC.
- Regulators: only Robinhood offers Bank of Lithuania (LSC), LT BL, SIPC.
- Founded is lower at Merrill Edge: 1914 vs 2013.
- Robinhood is licensed in 1 more country.
- Options contract fee is lower at Robinhood: $0 vs $0.65.
- Markets: only Merrill Edge offers Bonds, Funds.
- Markets: only Robinhood offers Futures, Crypto.
- Platforms: only Merrill Edge offers Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app.
- Platforms: only Robinhood offers Robinhood app, Robinhood Legend.
Our verdict on each
Merrill Edge
Merrill Edge is a US brokerage that suits investors who want commission-free stock and ETF dealing alongside a brokerage account. Stock trade fees of $0 and an account fee of $0 put it in the cheapest band we rate, though options and managed portfolios carry their own charges.
Robinhood
Robinhood suits first-time investors and small, regular investors who want nothing charged for holding or trading. It is the cheapest way in on our data, with a minimum deposit of $0, no account fee and no inactivity charge, under the Bank of Lithuania and SIPC.
Score breakdown
| Area | Merrill Edge | Robinhood |
|---|---|---|
| Cost | 9.3Stock trade fee of $0, account fee of $0 and no inactivity charge at $0, with options at $0.65 per contract. | 9.6HigherStock trades cost $0, options contracts $0, the account fee is $0 and inactivity is $0. |
| Offer | 9.6Higher | 9.3 |
| Trust | 9.7Higher | 9.3 |
Where they rank in our lists
| Ranking | Merrill Edge | Robinhood |
|---|---|---|
| Stock and ETF brokers | 41 of 490 | 13 of 490 |
| Investment platforms and apps | 10 of 85 | 1 of 85 |
| Options trading platforms | 12 of 103 | 1 of 103 |
| Low-fee brokers | 5 of 11 | 1 of 11 |
| Brokers for beginners | 15 of 88 | 6 of 88 |
| IRA providers | 8 of 43 | 1 of 43 |
Every fact side by side
| Fact | Merrill Edge | Robinhood |
|---|---|---|
| Features | Fractional shares, Demo account, Mobile app, Options | Crypto, Fractional shares, Options, Futures, Mobile app |
| Pricing model | Commission free | Commission free, Low feesCovers more |
| Audience | Beginners, Experienced | Beginners, Day traders |
| Legal entity | Merrill Lynch, Pierce, Fenner and Smith Incorporated | Robinhood Europe UAB |
| Headquarters | United States | Lithuania |
| Founded | 1914Lower | 2013 |
| Support channels | Phone, Chat, Help centre, Email | Not confirmed |
Robo-advisors
| Fact | Merrill Edge | Robinhood |
|---|---|---|
| Management fee | 0.45% to 0.85% | Not confirmed |
| Minimum investment | $0 to $1,000 | Not confirmed |
| Portfolio types | ETF | Not confirmed |
Where each stands against the rest
| Fact | Merrill Edge | Robinhood | Median |
|---|---|---|---|
| Minimum deposit | $0below the median | $0below the median | $10 |
| Stock trade fee | $0at the median | $0at the median | $0 |
| Account fee | $0at the median | $0at the median | $0 |
| Inactivity fee | $0at the median | $0at the median | $0 |
| Margin rate | Not confirmed | 3.95%lowest quarter | 8.79% |
| Options contract fee | $0.65above the median | $0lowest quarter | $0.59 |
Median across 99 listed brokers.
Pros and cons
Merrill Edge
Pros
- Stock trades cost $0 and the account fee is $0, so the everyday cost of holding a brokerage account is minimal
- No inactivity charge at $0, unlike several rivals that bill dormant accounts
- Minimum deposit of $0 means an account can be opened and funded without a large starting balance
Cons
- Options cost $0.65 per contract, so the free stock dealing does not extend to derivatives
- Managed portfolios charge 0.45% to 0.85% in advisory fees, where commission-free dealing applies only to self-directed trading
- Account types are limited to retirement and joint and corporate forms, so it does not cover the wider account range some rivals offer
Robinhood
Pros
- Nothing to pay to open or hold an account, with an account fee of $0 and an inactivity fee of $0
- Trading a share costs $0, so a small first order is not eaten by commission
- You can start with a deposit of $0, lower than most brands on our data
Cons
- Leverage is available at 10X, which magnifies losses as well as gains
- Outgoing transfers carry a charge of $100 outgoing transfer
- Margin borrowing is priced at a margin rate of 3.95%, so interest adds to your cost
Who each suits
Merrill Edge
Who it suits
- US investors who want commission-free stocks and ETFs plus a retirement account in one place
- Long term holders who would rather avoid an inactivity charge of $0 and the account fees some rivals levy
- Beginners and experienced traders who appreciate support across phone, chat and help centre
Who should look elsewhere
- Investors who want forex or crypto, as the market list holds stocks, etfs and options
- Anyone looking for a fully managed portfolio without paying advisory fees of 0.45% to 0.85%
- Readers who want the wider market spread offered by CFI or eToro, where the asset mix runs wider than stocks, etfs and options
Robinhood
Who it suits
- Beginners opening a first account with a small deposit
- Day-traders working in options, futures and crypto on mobile
- Retirement investors using an IRA, Roth IRA or joint account
Who should look elsewhere
- Vantage if a flat minimum deposit of $5 suits you better
- CFI if you want forex and CFDs alongside shares, since its markets cover stocks, etfs and forex
- eToro if social copy trading matters more than options and futures
Current offers
Merrill Edge
Current offer
First period offer
$0 program fee for 6 months - Merrill Guided Investing: $0 for 6 months
New enrollments, use offer code 6FREE
Source, checked September 26, 2026
Country by country
| Country | Merrill Edge | Robinhood |
|---|---|---|
| United States | Yes | No |
Questions about each
Merrill Edge
What does it cost to trade stocks at Merrill Edge?+
Online stock dealing is priced at a stock trade fee of $0, with an account fee of $0 on the brokerage account. The inactivity fee is $0, so a dormant account is not billed. Options trades are charged separately at $0.65 per contract.
Which regulator supervises Merrill Edge?+
Merrill Edge is supervised in the US, and the regulators recorded for it are FINRA and SEC. The legal entity behind the brand is Merrill Lynch, Pierce, Fenner and Smith Incorporated. Securities held in the account fall under the investor protection arrangement stated as SIPC up to USD 500,000.
Robinhood
What does it cost to trade shares on Robinhood?+
Trading a share costs $0, and an options contract costs $0. There is also an account fee of $0 and an inactivity fee of $0, so nothing is taken for simply holding the account open. Borrowing on margin is charged at a margin rate of 3.95%, which is the main running cost if you use leverage.
Is there a minimum deposit to open a Robinhood account?+
The minimum deposit is $0, so you can open an account and place a small first order without funding a large balance. It is worth comparing that with the deposits other brands ask for before you commit, since the figure varies widely across the market. Outgoing transfers are charged at $100 outgoing transfer, so factor that in if you plan to move money out early.
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