SogoTrade vs Merrill Edge Comparison: Fees, Features, and More (2026)

SogoTrade 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 2026.

Head-to-Head Comparison: SogoTrade vs Merrill Edge (2026)
Feature SogoTrade Merrill Edge
Website https://www.sogotrade.com/ https://www.merrilledge.com/
Broker Type Discount (online self-directed) Self-directed discount/online brokerage
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 qualifying limit (100+ sh or ≥$2k principal, ≥$1/sh); $2.88 market/odd-lot/OTC $0 online commissions (ETF sales $0.01–$0.03 per $1,000 principal)
Fractional Shares? No No
Percent Allocations? No No
Crypto Trading? Yes, via Bakkt (individual non-retirement accounts; ~33 coins; all 50 US states, NY USDC restriction). No
Crypto Fees Greater of $1 or 1% of trade value (Bakkt); other account fees may apply. N/A
Options Trading? Yes. Yes
Options Fee $0 + $0.50 per contract online; $25 + $0.50 broker-assisted; plus ORF/OCC/regulatory fees. $0 + $0.65 per contract online; $0 exercise/assignment. Broker-assisted extra.
Bond Trading Available? Yes, broker-assisted only ($30 + $1 per bond, $250 max) for Treasuries, corporates, CDs. Yes
Receives payment for order flow (PFOF)? Yes No; limited options-exchange payments
Interface: Web trading? Yes (SogoTrade Pro web platform and mobile app). Yes
Desktop trading? No No (MarketPro is browser-based, not a downloadable desktop app)
API Trading? No No (no public retail trading API)
Mutual Funds: Offered? Yes, broker-assisted only Yes
Total Mutual Funds Not verified Thousands
NTF Mutual Funds None Many NTF (exact count unpublished)
Non-NTF Fund Fee $25 broker-assisted $19.95 per online transaction (buys, sells, exchanges) for no-load TF funds
Early Redemption Fee? Not verified No ($39.95 short-term redemption fee on NTF funds held <90 days)
Redemption Hold (Days) not applicable 90 days (NTF funds)
Early Redemption Fee not applicable $39.95 (NTF funds held <90 days)
Accounts: Margin Accounts? Yes Yes
IRAs Offered? Yes Yes (Traditional, Roth, SEP)
HSAs Offered? No Yes (Individual HSA)
Money Market Sweep? No Yes
CDs Offered? No Yes (brokered CDs)
Robo-Advisor: Offered Yes Yes
Robo-Advisor Service Power Portfolios Merrill Guided Investing
Robo-Advisor Fees 0.75% 0.45% AUM online; 0.85% with advisor (monthly in advance). Preferred Rewards discounts 0.05-0.15%. Fund expenses extra.
Basics: Headquarters New York, NY New York, NY
Year Founded 1986 2010
Clearing Firm Apex Clearing Merrill Lynch, Pierce, Fenner & Smith Inc. (self-clearing)
Local Branches? No Yes (~3,530 Bank of America financial centers, U.S., as of Q2 2026)
New Account Minimum unavailable $0 (self-directed)

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