Interactive Brokers vs Merrill Edge Comparison: Fees, Features, and More (2025)
Interactive Brokers 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.
| Feature | Interactive Brokers | Merrill Edge |
|---|---|---|
| Website | https://www.interactivebrokers.com/ | https://www.merrilledge.com/ |
| Broker Type | Discount | Full-Service |
| Trading: Stock & ETF? | Yes | Yes |
| ETF & Stock commission | $0 for IBKR Lite, $0.005 per share for IBKR Pro (minimum $1) | No fee |
| Fractional Shares? | Yes | No |
| Percent Allocations? | Yes; Portfolio Builder or "Rebalance Portfolio" window in Trader Workstation | No |
| Crypto Trading? | Yes, via providers | No |
| Crypto Fees | 0.18% | not applicable |
| Options Trading? | Yes | Yes |
| Options Fee | 15 to 65 cents | 65 cents |
| Bond Trading Available? | Yes | Yes |
| Pays for Order Flow (PFOF)? | No | Yes |
| Interface: Web trading? | Yes | Yes |
| Desktop trading? | Yes; Trader Workstation | No |
| API Trading? | Yes; Trader Workstation API | No |
| Mutual Funds: Offered? | Yes | Yes |
| Total Mutual Funds | Over 43,000 | Over 2,300 |
| NTF Mutual Funds | Over 19,000 | Over 800 |
| Non-NTF Fund Fee | $14.95 or 3% of trade value (whichever is lower) | $19.95 |
| Early Redemption Fee? | Yes | Yes |
| Redemption Hold (Days) | 0 days (but fund company fees may apply) | 90 days |
| Early Redemption Fee | $0 (but fund company fees may apply) | $39.95 |
| Accounts: Margin Accounts? | Yes | Yes |
| IRAs Offered? | Yes | Yes |
| HSAs Offered? | No | No |
| Money Market Sweep? | Yes | Yes |
| CDs Offered? | Yes | Yes |
| Robo-Advisor: Offered | Yes | Yes |
| Robo-Advisor Service | PortfolioAnalyst | Merrill Guided Investing |
| Robo-Advisor Fes | 0.08% to 1.50% | 0.30% to 0.45% |
| Basics: Headquarters | Greenwich, CT | Charlotte, NC |
| Year Founded | 1978 | 2010 |
| Clearing Firm | Self-clearing | Merrill Lynch Pierce Fenner & Smith |
| Local Branches? | Yes, about 2 locations | Yes, about 2,800 locations |
| New Account Minimum | $0 | $0 |
Once you’ve chosen a broker, find high-performing, investable model portfolios at RecipeInvesting.com
Compare Interactive Brokers to All Brokers
- Compare Interactive Brokers to Ally Invest
- Compare Interactive Brokers to Alpaca
- Compare Interactive Brokers to Axos Invest
- Compare Interactive Brokers to Charles Schwab
- Compare Interactive Brokers to E*Trade
- Compare Interactive Brokers to Fidelity
- Compare Interactive Brokers to Firstrade
- Compare Interactive Brokers to M1 Finance
- Compare Interactive Brokers to Merrill Edge
- Compare Interactive Brokers to Public.com
- Compare Interactive Brokers to Robinhood
- Compare Interactive Brokers to SoFi Invest
- Compare Interactive Brokers to SogoTrade
- Compare Interactive Brokers to Stash
- Compare Interactive Brokers to Tastytrade
- Compare Interactive Brokers to Tradestation
- Compare Interactive Brokers to Tradier
- Compare Interactive Brokers to Vanguard
- Compare Interactive Brokers to WeBull
- Compare Interactive Brokers to ZacksTrade