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Fidelity Investments vs Merrill Edge
Detailed comparison of fees, features and products
5
BROKER ONLY3.8
BROKER ONLYFeature Comparison
| Feature Comparison | Fidelity Investments | Merrill Edge |
|---|---|---|
| Wide Offering | ||
| Fractional Shares & DRIP | ||
| Free Savings Plan | ||
| Cash Sweep Yield | ||
| US Support | ||
| Tax Documents (1099) | ||
| SIPC $500k + FDIC | ||
| Score | 7/7 | 7/7 |
Fee Comparison
| Fee Comparison | Fidelity Investments | Merrill Edge |
|---|---|---|
| IRA Accounts (Roth, Traditional) | $0 commission | $0 commission |
| Cash Sweep Yield | $0 commission | $0 commission |
| Crypto Fee | 1% spread | N/A |
| Margin Rate | N/A | N/A |
| Inactivity Fee | None | None |
| Deposit Fee | Free | Free |
| Withdrawal Fee | Free | Free |
| Min. Deposit | 0 | 0 |
Product Range
| Product Range | Fidelity Investments | Merrill Edge |
|---|---|---|
| Stocks | All US + international | All US stocks |
| ETFs | All US ETFs | All US ETFs |
| Mutual Funds | 10,000+ mutual funds | 3,000+ mutual funds |
| Bonds | Treasuries, corporates, munis | Full offering |
| Crypto | BTC, ETH | N/A |
Pros & Cons
Pros
- Best Cash Sweep: Auto-moves uninvested cash to high-yield money market
- Fractional shares on 7,000+ stocks & ETFs (from $1)
- Best IRA accounts: Traditional, Roth, SEP, SIMPLE - all $0 fees
- SIPC $500k + FDIC sweep up to $5M
- Free DRIP on all holdings
- Industry-leading research (Morningstar, CFRA)
Cons
- Crypto limited to BTC/ETH only
- International trading more limited than IBKR
- Mobile app less flashy than Robinhood
Pros
- Bank of America Preferred Rewards: Huge bonuses for BoA clients
- SIPC $500k + FDIC
- Excellent research (Morningstar, BofA Securities)
- Seamless BoA banking integration
- Free trades for Platinum Honors members
- MarketPro platform for active traders
Cons
- Best benefits require BoA relationship
- No crypto
- Limited if not a BoA customer
- Cash yields not competitive