Merrill Edge vs Fidelity: A Thorough Comparison

If you’re looking to embark into the world of stock market investing to open an online brokerage account is the first step towards buying and selling stocks ETFs and mutual funds .  Two prominent competitors in the brokerage industry Merrill Edge vs Fidelity often grab the interest of investors who are looking for a reliable platform . Whether you are a beginner or an experienced investor these brokers have earned a name for their services .  Let’s dive into the details and compare Merrill Edge and Fidelity .


Comparing Merrill Edge and Fidelity on Mutual Fund Investing


Merrill Edge and Fidelity both offer a wide range of non-load and non-transaction-fee (NTF) mutual funds .  This means investors can buy and sell these funds without getting any additional fees .  Fidelity goes a step further by offering a group of completely free index funds and allows investors to build a cost-effective and diversified portfolio without any management fees .  When it comes to mutual fund investing both brokers provide pleasant options for investors . 


Account Minimums: Finding the Right Fit for Investors


Both Merrill Edge and Fidelity offer no minimum accounts which makes them accessible for investors who want to start small .  Whether you can afford to deposit only $100 or have a larger sum to invest both brokers house investors of various financial capacities .  It is important to note that while there are no minimum account requirements investors should have enough funds to buy at least one share of a stock ETF or mutual fund to begin a trade . 


Trading Platforms: The Battle for the Best User Experience


Merrill Edge and Fidelity both provide online trading platforms for investors . Fidelity caters to both long-term investors and active traders as it offers an easy to use web interface as well as a strong desktop platform which is called Active Trader Pro . On the other hand Merrill Edge offers a browser based solution and the Merrill Edge MarketPro platform for more advanced traders . 


Robo Advisors and Education Tools: Merrill Edge vs .  Fidelity


Merrill Edge offers Guided Investing which is a robo advisor service that provides managed account programs at a price of 0 . 45% per year . Note that a minimum account balance of $5,000 is required to start investing . The clients can also visit Bank of America locations and consult with a broker for a fee of 0 . 85% yearly . Merrill Edge offers educational resources like webinars tutorials and articles to help investors in making informed decisions regarding their finances . 


Fidelity offers its own robo advisor service too . It is called Fidelity Go which lets clients invest in low-cost mutual funds and ETFs .  With a cost of 0 . 35% each year Fidelity Go provides a managed investment portfolio that is regularly rebalanced by human advisors . Fidelity also provides a range of educational tools like screeners and access to stock reports from highly regarded research firms .


Choosing Between Merrill Edge and Fidelity


The choice in the end depends on an investor’s specific needs and preferences . Merrill Edge may be a better option for Bank of America customers who prioritize retirement planning and passive investing . Then again Fidelity offers a broader range of tools and options like advanced trading platforms, multiple account types and a full set of educational resources . Investors who want more detailed analysis of their portfolio and access to various asset classes may find Fidelity to be the better fit for themselves . 


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Andras Crow Hreidar

Editorial Director/ Business & Financial Writer Hi there, my name is András and I'm a business and finance journalist living in Norway. My passion lies in uncovering the latest stories in the world of finance and delivering them to my readers in a way that's clear and engaging. I cover a wide range of topics in the finance world, including cryptocurrencies, which I believe have the potential to transform the way we interact with money and financial systems. As a journalist, I'm committed to providing my readers with accurate and reliable reporting. I believe that access to high-quality information is essential for making informed decisions, whether it's about personal finances or investments. When I'm not writing about finance, I enjoy a variety of hobbies and interests.

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