Charles Schwab vs Merrill Edge Comparison: Fees, Features, and More (2025)

Charles Schwab and Merrill Edge are two leading discount brokerages offering commission-free stock and ETF trading. Use this head-to-head comparison table to evaluate fees, features, trading tools, and account options to help you decide which broker is right for you in 2025.

Head-to-Head Comparison: Charles Schwab vs Merrill Edge (2025)
Feature Charles Schwab Merrill Edge
Website https://www.schwab.com/ https://www.merrilledge.com/
Broker Type Full-Service Full-Service
Trading: Stock & ETF? Yes Yes
ETF & Stock commission No fee No fee
Fractional Shares? No No
Percent Allocations? No No
Crypto Trading? No No
Crypto Fees not applicable not applicable
Options Trading? Yes Yes
Options Fee 65 cents 65 cents
Bond Trading Available? Yes Yes
Pays for Order Flow (PFOF)? Yes Yes
Interface: Web trading? Yes Yes
Desktop trading? Yes; thinkorswim and StreetSmart Edge No
API Trading? No No
Mutual Funds: Offered? Yes Yes
Total Mutual Funds Over 10,000 Over 2,300
NTF Mutual Funds Over 4,000 Over 800
Non-NTF Fund Fee $74.95 $19.95
Early Redemption Fee? Yes Yes
Redemption Hold (Days) 90 days 90 days
Early Redemption Fee $49.95 $39.95
Accounts: Margin Accounts? Yes Yes
IRAs Offered? Yes Yes
HSAs Offered? Yes, through other providers No
Money Market Sweep? No Yes
CDs Offered? Yes Yes
Robo-Advisor: Offered Yes Yes
Robo-Advisor Service Schwab Intelligent Portfolios Merrill Guided Investing
Robo-Advisor Fes 0.00% to 0.30% 0.30% to 0.45%
Basics: Headquarters San Francisco, CA Charlotte, NC
Year Founded 1971 2010
Clearing Firm Charles Schwab & Co., Inc. Merrill Lynch Pierce Fenner & Smith
Local Branches? Yes, about 400 locations Yes, about 2,800 locations
New Account Minimum $0 $0

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