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

ZacksTrade 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: ZacksTrade vs Merrill Edge (2026)
Feature ZacksTrade Merrill Edge
Website https://www.zackstrade.com/ https://www.merrilledge.com/
Broker Type Discount Self-directed discount/online brokerage
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0.01 per share (minimum $1); 1% of trade value below $1/share $0 online commissions (ETF sales $0.01–$0.03 per $1,000 principal)
Fractional Shares? No No
Percent Allocations? Yes; Rebalance Portfolio No
Crypto Trading? No No
Crypto Fees Not applicable N/A
Options Trading? Yes Yes
Options Fee $1 for first contract + $0.75 per additional $0 + $0.65 per contract online; $0 exercise/assignment. Broker-assisted extra.
Bond Trading Available? Yes; corporate and government bonds Yes
Receives payment for order flow (PFOF)? Yes No; limited options-exchange payments
Interface: Web trading? Yes Yes
Desktop trading? Yes; Zacks Trade Pro/Client Portal/app No (MarketPro is browser-based, not a downloadable desktop app)
API Trading? No No (no public retail trading API)
Mutual Funds: Offered? Yes Yes
Total Mutual Funds Not publicly stated Thousands
NTF Mutual Funds Not publicly stated Many NTF (exact count unpublished)
Non-NTF Fund Fee $27.50 $19.95 per online transaction (buys, sells, exchanges) for no-load TF funds
Early Redemption Fee? Varies by fund No ($39.95 short-term redemption fee on NTF funds held <90 days)
Redemption Hold (Days) Fund-specific 90 days (NTF funds)
Early Redemption Fee Fund-specific $39.95 (NTF funds held <90 days)
Accounts: Margin Accounts? Yes Yes
IRAs Offered? Yes; Traditional, Roth, SEP, and Rollover Yes (Traditional, Roth, SEP)
HSAs Offered? No Yes (Individual HSA)
Money Market Sweep? No Yes
CDs Offered? No Yes (brokered CDs)
Robo-Advisor: Offered No Yes
Robo-Advisor Service None Merrill Guided Investing
Robo-Advisor Fees Not applicable 0.45% AUM online; 0.85% with advisor (monthly in advance). Preferred Rewards discounts 0.05-0.15%. Fund expenses extra.
Basics: Headquarters Chicago, IL New York, NY
Year Founded 2013 2010
Clearing Firm Interactive Brokers LLC Merrill Lynch, Pierce, Fenner & Smith Inc. (self-clearing)
Local Branches? No; online broker Yes (~3,530 Bank of America financial centers, U.S., as of Q2 2026)
New Account Minimum $0 $0 (self-directed)

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