VOL. XCIV, NO. 247

Merrill Edge Alternatives & Competitors

Checking

Replacement verdicts

Alternatives to Merrill Edge

Curated replacements grouped by fit, tradeoffs, pricing flexibility, and platform access. Use this list to decide which Merrill Edge competitor is worth testing first.

Looking for a Merrill Edge replacement? We've profiled 20 alternatives by workflow fit, pricing flexibility, caveats, and platform access. Whether you need a free option to trial, mobile-ready workflows, or API integrations, this list helps you choose what to test first.

Visit Merrill Edge Free alternatives Tool details

Disclosure: outbound links may include affiliate or sponsor links

Which Alternative Should You Use?

E*TRADE from Morgan Stanley

Closest replacement

Best for: U.S. self-directed investors who need several account types, research, retirement administration, and multiple trading platforms.

E*TRADE from Morgan Stanley best matches the base workflow on brokerage trading, portfolio tracking, and market monitoring.
E*TRADE from Morgan Stanley shares Free pricing with the base tool.

Watch for: Low default cash rate: The standard Bank Deposit Program pays 0.01% below $500,000 under the current tier schedule.

Open E*TRADE

Details Compare

TC2000

Best pricing fit

Best for: Active U.S. stock and options traders who need streaming charts, formula scans, alerts, paper trading, or connected brokerage trading.

TC2000 best matches the base workflow on brokerage trading, portfolio tracking, and options data.
TC2000 adds a free starting point that the base tool does not show. Free access caveat: The anonymous free version uses delayed streaming data and a limited layout..

Watch for: Limited free access: The anonymous version includes limited charts, delayed streaming data, option chains, a watchlist, and paper-trading windows. Real-time scans and other core workflows require a paid plan.

Compare TC2000 plans

Details Compare

Interactive Brokers (IBKR)

Quality-checked pick

Best for: Active investors who need global multi-asset access, advanced orders, APIs, and volume-based commissions.

Interactive Brokers (IBKR) best matches the base workflow on brokerage trading, portfolio tracking, and market monitoring.
Interactive Brokers (IBKR) shares Free pricing with the base tool.

Watch for: Commission and market-data details vary by market: The record contains separate stock, ETF, options, futures, crypto, and market-data pricing notes by region and product.

Open IBKR account

Details Compare

Fidelity (Fidelity Brokerage Services LLC)

Strong runner-up

Best for: U.S. investors looking for $0 online stock and most ETF trades, research, tax documents, and several account types.

Fidelity (Fidelity Brokerage Services LLC) best matches the base workflow on brokerage trading, portfolio tracking, and market monitoring.
Fidelity (Fidelity Brokerage Services LLC) shares Free pricing with the base tool.

Watch for: Not all trades are free: Options contracts, secondary bonds/CDs, crypto transactions, professional options fees, regulatory fees, and certain ETF purchase service fees can apply.

Open Fidelity account

Details Compare

Detailed Alternatives

I want to

Pay lessFill a gapUpgrade overall

Our ranked order by workflow overlap and quality.

Closest replacement

E*TRADE from Morgan Stanley

Bottom line: U.S. self-directed investors who need several account types, research, retirement administration, and multiple trading platforms.

Keep

Brokerage
Portfolio
Watchlist
Advanced Order Types
Options
Downloadable Tax Reports

Gain

$0 online U.S. exchange-listed stock and ETF commissions; options cost $0.65 or $0.50 per contract by activity tier.
Eligible listed Reg-NMS fractions start at $5 and support quantities to three decimal places during the rollout.
The default Bank Deposit Program pays 0.01%, 0.05%, or 0.15% APY by current balance tier.
SIPC protection is supplemented by Morgan Stanley excess coverage, while bank-sweep deposits use separate FDIC rules.

Lose

$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.
MarketPro has no deposit or trade minimum, but Level II data requires $1 million in combined eligible balances or 30 self-directed trades per quarter.

Watch out

Useful when you want to add filings and transcript research instead of mirroring the current workflow.
Free-plan limits: Signup required, Brokerage features require an approved account and cleared funding, and Options, margin, futures, crypto and specialized registrations require separate eligibility.
Low default cash rate: The standard Bank Deposit Program pays 0.01% below $500,000 under the current tier schedule.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
E*TRADE from Morgan StanleyTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open E*TRADE Compare

Full review and details

Drop-in replacement

Fidelity (Fidelity Brokerage Services LLC)

Bottom line: U.S. investors looking for $0 online stock and most ETF trades, research, tax documents, and several account types.

Keep

Brokerage
Portfolio
Watchlist
Advanced Order Types
Options

Gain

Smart/Direct Routing
Order Book / Level II
News
Financials

Lose

Downloadable Tax Reports
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Useful when you want to add broker-connected trading, portfolio analytics, and charting and technical analysis instead of mirroring the current workflow.
Free-plan limits: Signup required, Brokerage use requires an approved Fidelity account, and Options, international trading, margin, crypto, and active-trader workflows have separate rules or approvals.
Not all trades are free: Options contracts, secondary bonds/CDs, crypto transactions, professional options fees, regulatory fees, and certain ETF purchase service fees can apply.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
Fidelity (Fidelity Brokerage Services LLC)Transaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open Fidelity account Compare

Full review and details

Drop-in replacement

Webull

Bottom line: Eligible U.S. traders looking for mobile, web, and desktop execution with $0 online commissions for U.S.-listed stocks and ETFs.

Keep

Brokerage
Portfolio
Watchlist
Advanced Order Types
Options
Downloadable Tax Reports

Gain

$0 online commissions for U.S.-listed stocks and ETFs, subject to disclosed exceptions and regulatory charges.
Selected U.S. stock and ETF fractional purchases start at $1.
Cash Management sweeps eligible settled cash to program banks and supports up to $5 million total FDIC eligibility under program limits.
SIPC covers eligible brokerage assets up to $500,000, including the $250,000 cash sublimit; excess terms depend on clearing arrangement.

Lose

$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.
MarketPro has no deposit or trade minimum, but Level II data requires $1 million in combined eligible balances or 30 self-directed trades per quarter.

Watch out

Useful when you want to add charting and technical analysis instead of mirroring the current workflow.
Free-plan limits: Signup required, Trading requires an approved eligible brokerage account, and Options, margin, entity and IRA access have additional rules.
U.S. eligibility rules: Applicants need a U.S. address, SSN or ITIN, and permanent-resident or accepted-visa status.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
WebullTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open Webull Compare

Full review and details

Interactive Brokers (IBKR)Quality-checked pickTransaction-priced · Fees vary by offer and jurisdictionPaid only

Quality-checked pick

Interactive Brokers (IBKR)

Analyst pickTested by us

Bottom line: Active investors who need global multi-asset access, advanced orders, APIs, and volume-based commissions.

Keep

Brokerage
Portfolio
Watchlist
Advanced Order Types
Options

Gain

Smart/Direct Routing
Paper Trading
Screeners
Risk Metrics

Lose

Downloadable Tax Reports
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on options data.
Free-plan limits: Signup required, Brokerage account has no recurring platform fee in the profile, but trading commissions and add-on fees vary by product, and Real-time market data and Level II data generally require subscriptions.
Commission and market-data details vary by market: The record contains separate stock, ETF, options, futures, crypto, and market-data pricing notes by region and product.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
Interactive Brokers (IBKR)Transaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open IBKR account Compare

Full review and details

Charles SchwabDrop-in replacementTransaction-priced · Fees vary by offer and jurisdictionPaid only

Drop-in replacement

Charles Schwab

Bottom line: U.S. investors who want brokerage, trading platforms, research, tax workflows, and several asset classes in one account.

Keep

Brokerage
Portfolio
Watchlist
Advanced Order Types
Options

Gain

Paper Trading
Smart/Direct Routing
News
Alerts

Lose

Downloadable Tax Reports
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on options data.
Free-plan limits: Signup required, Brokerage use requires an approved Schwab account, and Options, futures, forex, margin, and API workflows require separate approval or authorization.
Advanced products need approval: Options, futures, forex, margin, and crypto access have separate approval, risk, and eligibility requirements.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
Charles SchwabTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open Schwab account Compare

Full review and details

FirstradeDrop-in replacementTransaction-priced · Fees vary by offer and jurisdictionPaid only

Drop-in replacement

Firstrade

Bottom line: U.S. and supported international investors seeking $0 online stock, ETF, mutual-fund, and options commissions.

Keep

Brokerage
Portfolio
Watchlist
Options
Downloadable Tax Reports

Gain

Stocks, ETFs, mutual funds, and listed options have $0 stated online commissions and $0 standard options contract fees.
International brokerage is available only for the current official matrix of 27 countries and regions.
Fractional trading covers selected equities and ETFs, but fractions cannot transfer and carry voting and liquidity limitations.
Firstrade currently posts 0.15% for brokerage credit interest and Apex FDIC-swept cash across all balance tiers.

Lose

Advanced Order Types
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on market monitoring.
Free-plan limits: Signup required, An approved domestic or supported international brokerage account is required, and Regulatory, short-borrow, fixed-income, fund, broker-assisted, and transfer costs can apply.
Restricted international matrix: International onboarding is limited to 27 named countries and regions and cannot be generalized globally.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
FirstradeTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open Firstrade Compare

Full review and details

National Bank Direct BrokerageDrop-in replacementTransaction-priced · Fees vary by offer and jurisdictionPaid only

Drop-in replacement

National Bank Direct Brokerage

Bottom line: Canadian residents seeking $0 online Canadian and U.S. stock and ETF commissions.

Keep

Brokerage
Portfolio
Watchlist
Options
Downloadable Tax Reports

Gain

Online Canadian and U.S. stocks and ETFs carry $0 stated commission.
A $100 annual administration fee is waived under published asset, age, InvestCube or offer conditions.
Uninvested brokerage credit balances currently pay 0% in the live pricing table.
CAD-USD conversion spreads fall from 1.70% to 0.60% across published transaction tiers.

Lose

Advanced Order Types
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on market monitoring.
Free-plan limits: Signup required, An approved Canadian-resident brokerage account is required, and The $100 annual administration fee requires a published waiver condition to avoid.
Canada-only online opening: The online application requires Canadian residence and age 18 or older.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
National Bank Direct BrokerageTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-09-02 via pricing.

Open NBDB Compare

Full review and details

Qtrade Direct InvestingDrop-in replacementTransaction-priced · Fees vary by offer and jurisdictionPaid only

Drop-in replacement

Qtrade Direct Investing

Bottom line: Canadian residents seeking $0 online equity, ETF and mutual-fund commissions.

Keep

Brokerage
Portfolio
Watchlist
Options
Downloadable Tax Reports

Gain

Online equities, ETFs and mutual funds carry $0 stated commission.
Online options cost $0 plus $0.75 per contract, with separate assignment and exercise fees.
Published cash-credit rates are 0% through C$2 million and 0.10% above in CAD, while USD remains 0%.
The official DRIP program purchases full shares only; direct fractional orders were not established.

Lose

Advanced Order Types
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on market monitoring.
Free-plan limits: Signup required, An approved Canadian brokerage account is required, and Transaction, product, service, FX and transfer fees can apply despite $0 equity and ETF commissions.
Canada-only opening: New applicants must be Canadian residents and meet provincial or territorial age requirements.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
Qtrade Direct InvestingTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open Qtrade Compare

Full review and details

Rakuten SecuritiesDrop-in replacementTransaction-priced · Fees vary by offer and jurisdictionPaid only

Drop-in replacement

Rakuten Securities

Bottom line: Japan residents who need Japanese and U.S. securities, funds, bonds, and derivatives in one account.

Keep

Brokerage
Portfolio
Watchlist
Options
Downloadable Tax Reports

Gain

Zero Course domestic cash-equity brokerage is ¥0 when its SOR/R-Cross conditions are accepted.
U.S. stock and ETF commissions are 0.495%, with a $0 minimum and $22 maximum before other charges.
Kabumini trades eligible Japanese shares below the standard lot from one share.
Segregated assets are backed by Japan Investor Protection Fund coverage up to ¥10 million if return fails.

Lose

Advanced Order Types
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on market monitoring.
Free-plan limits: Signup required, Applicants must be Japan residents and pass identity, tax and account screening, and Zero Course domestic pricing has SOR/R-Cross and electronic-service conditions.
Japan residents only: The modeled account is not open as a general overseas route, and non-resident customers face restrictions.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
Rakuten SecuritiesTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open Rakuten Securities Compare

Full review and details

SBI SecuritiesDrop-in replacementTransaction-priced · Fees vary by offer and jurisdictionPaid only

Drop-in replacement

SBI Securities

Bottom line: Japan residents who need domestic shares, U.S. securities, funds, bonds, and derivatives in one account.

Keep

Brokerage
Portfolio
Watchlist
Options
Downloadable Tax Reports

Gain

Zero Revolution lists ¥0 brokerage for eligible domestic cash, margin and S-share orders under its conditions.
U.S. security commissions are 0.495%, with a $0 minimum and $22 maximum before other charges.
S-shares provide eligible Japanese securities below the standard lot from one share.
Segregated assets have Japan Investor Protection Fund coverage up to ¥10 million if return fails.

Lose

Advanced Order Types
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on market monitoring.
Free-plan limits: Signup required, Applicants must be Japan residents and pass identity, My Number and bank-account checks, and Domestic zero brokerage requires electronic-delivery and course conditions.
Japan residents only: SBI limits opening to domestic residents and states it does not hold overseas securities-business licenses.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
SBI SecuritiesTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open SBI Securities Compare

Full review and details

Monex SecuritiesDrop-in replacementTransaction-priced · Fees vary by offer and jurisdictionPaid only

Drop-in replacement

Monex Securities

Bottom line: Japan residents who need Japanese and U.S. securities in one self-directed account.

Keep

Brokerage
Portfolio
Watchlist
Options
Downloadable Tax Reports

Gain

Domestic per-order commissions start at ¥55 and top out at ¥1,070 under the published online tiers.
U.S. security commissions are 0.495%, with a $0 minimum and $22 maximum before other charges.
One Share buys eligible Japanese securities below the standard lot from one share.
Segregated assets have Japan Investor Protection Fund coverage up to ¥10 million if return fails.

Lose

Advanced Order Types
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on market monitoring.
Free-plan limits: Signup required, Applicants must be Japan residents and pass identity, My Number and linked-bank checks, and Domestic, U.S., odd-lot, currency and derivative transactions use different schedules.
Japan residents only: The ordinary account is limited to Japan residents and is restricted when a customer becomes non-resident.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
Monex SecuritiesTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open Monex Securities Compare

Full review and details

DEGIRODrop-in replacementTransaction-priced · Fees vary by offer and jurisdictionPaid only

Drop-in replacement

DEGIRO

Analyst pickTested by us

Bottom line: European investors looking for low-cost self-directed access to stocks, ETFs, bonds, funds, options, and futures.

Keep

Brokerage
Portfolio
Watchlist
Advanced Order Types
Downloadable Tax Reports

Gain

Smart/Direct Routing
News
Calendar
flatexDEGIRO Bank SE provides execution-only service without investment advice or portfolio management.

Lose

Options
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on options data.
Free-plan limits: Signup required, Trading requires an approved brokerage account, and Transaction, handling, currency-conversion, connectivity, and market-data fees can apply.
Execution-only broker: DEGIRO does not provide investment advice or portfolio management.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
DEGIROTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open DEGIRO account Compare

Full review and details

TC2000Best pricing fitFree • From $24.99/moFree, no signup

Best pricing fit

TC2000

Bottom line: Active U.S. stock and options traders who need streaming charts, formula scans, alerts, paper trading, or connected brokerage trading.

Keep

Brokerage
Portfolio
Watchlist
Advanced Order Types
Options

Gain

Screeners
News
Alerts
Paper Trading

Lose

Downloadable Tax Reports
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on market monitoring.
Free-plan limits: The anonymous free version uses delayed streaming data and a limited layout, Pricing page lists Basic at $24.99/month, Premium at $49.99/month, and Premium+ at $99.99/month, and Annual pricing lowers the effective monthly rate to $20.82, $41.65, and $83.32 respectively.
Limited free access: The anonymous version includes limited charts, delayed streaming data, option chains, a watchlist, and paper-trading windows. Real-time scans and other core workflows require a paid plan.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
TC2000Free • From $24.99/mo
Free tier: Free, no signup
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Compare TC2000 plans Compare

Full review and details

BMO InvestorLineDrop-in replacementTransaction-priced · Fees vary by offer and jurisdictionPaid only

Drop-in replacement

BMO InvestorLine

Bottom line: Canadian residents who want self-directed investing through a BMO brokerage.

Keep

Brokerage
Portfolio
Watchlist
Options
Downloadable Tax Reports

Gain

Standard online stock and ETF trades cost $9.95, or $3.95 for qualifying active traders.
More than 100 selected ETFs can qualify for commission-free trading.
Standard ordinary CAD, USD and registered brokerage cash currently earns 0%.
Allocated bullion and precious-metal certificates are available with product-specific commissions.

Lose

Advanced Order Types
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on market monitoring.
Free-plan limits: Signup required, An approved Canadian self-directed brokerage account is required, and Standard equity and options trades are paid.
Canada-only opening: The reviewed individual opening flow is for eligible Canadian residents.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
BMO InvestorLineTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open BMO InvestorLine Compare

Full review and details

CIBC Investor's EdgeDrop-in replacementTransaction-priced · Fees vary by offer and jurisdictionPaid only

Drop-in replacement

CIBC Investor's Edge

Bottom line: Canadian residents who want self-directed brokerage linked to CIBC banking.

Keep

Brokerage
Portfolio
Watchlist
Options
Downloadable Tax Reports

Gain

Standard online stock and ETF trades cost $6.95, or $4.95 under Active Trader pricing.
Over 180 selected ETFs can trade commission-free when the live list and holding rules are met.
All ordinary CAD and USD brokerage credit balances currently pay 0%.
CDRs are separate securities and do not prove direct fractional-share order support.

Lose

Advanced Order Types
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on market monitoring.
Free-plan limits: Signup required, An approved Canadian-resident brokerage account is required, and Standard equity and options trades are paid.
Canada-only opening: Individual opening is limited to eligible Canadian residents.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
CIBC Investor's EdgeTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open CIBC Edge Compare

Full review and details

RBC Direct InvestingDrop-in replacementTransaction-priced · Fees vary by offer and jurisdictionPaid only

Drop-in replacement

RBC Direct Investing

Bottom line: Canadian residents who want self-directed investing through an RBC brokerage.

Keep

Brokerage
Portfolio
Watchlist
Options
Downloadable Tax Reports

Gain

Standard online stock and ETF trades cost $9.95, or $6.95 under Active Trader pricing.
Selected ETFs and online mutual-fund trades can carry a $0 RBC commission.
Gold and silver certificates have a 100-ounce minimum and a $43 minimum commission.
Ordinary CAD, USD and registered brokerage credit balances currently pay 0%.

Lose

Advanced Order Types
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on market monitoring.
Free-plan limits: Signup required, An approved self-directed brokerage account is required, and Standard equity and options trades are paid.
Canada-only public opening: The reviewed public account-opening offer establishes eligibility for Canadian residents only.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
RBC Direct InvestingTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open RBC Direct Compare

Full review and details

TD Direct InvestingDrop-in replacementTransaction-priced · Fees vary by offer and jurisdictionPaid only

Drop-in replacement

TD Direct Investing

Bottom line: Canadian residents who need self-directed access to stocks, ETFs, options, funds, bonds, GICs, and research.

Keep

Brokerage
Portfolio
Watchlist
Options
Downloadable Tax Reports

Gain

Whole-share Canadian and U.S. stocks cost $9.99 standard or $7 for Active Traders.
Eligible partial-share stock and ETF trades cost $1.99 and record holdings to five decimals.
Standard CAD, USD and registered brokerage credit balances currently pay 0%.
TD Easy Trade is a separate service with a narrower product set and different free-trade terms.

Lose

Advanced Order Types
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on market monitoring.
Free-plan limits: Signup required, An approved Canadian-resident brokerage account is required, and Most whole-share stock trades are paid; only select ETFs are commission-free.
Canada-only opening: Applicants must be Canadian residents and meet age and account-specific requirements.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
TD Direct InvestingTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open TD Direct Compare

Full review and details

Public.comDrop-in replacementTransaction-priced · Fees vary by offer and jurisdictionPaid only

Drop-in replacement

Public.com

Bottom line: Eligible U.S. investors looking for stocks, ETFs, bonds, and options in one self-directed interface.

Keep

Brokerage
Portfolio
Watchlist
Options
Downloadable Tax Reports

Gain

Regular-hours U.S.-listed stock and ETF commission is $0; extended-hours and OTC trading costs $2.99 without Premium.
Investment Plans cost $0.49 to $1.99 per recurring stock and ETF purchase unless Premium waives the charge.
Primary brokerage free cash earns 0%; the separate HYCA currently states a variable 3.30% APY.
The HYCA can provide up to $5 million in aggregate FDIC eligibility through partner banks, subject to per-bank aggregation.

Lose

Advanced Order Types
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on market monitoring.
Free-plan limits: Signup required, An approved eligible U.S. brokerage account is required, and Regular-hours U.S.-listed equity trades are free, but extended-hours, OTC, plan, transfer, and regulatory fees can apply.
U.S.-only onboarding: Opening requires a U.S. residential address, valid SSN, and supported citizenship, residency, or visa status.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
Public.comTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open Public Compare

Full review and details

AJ BellDrop-in replacementTransaction-priced · Fees vary by offer and jurisdictionPaid only

Drop-in replacement

AJ Bell

Bottom line: UK investors looking for taxable, ISA, LISA, junior, trust, company, and pension accounts with one provider.

Keep

Brokerage
Portfolio
Watchlist
Advanced Order Types
Downloadable Tax Reports

Gain

Share custody is 0.25% with monthly caps from £2.50 to £10 depending on the account wrapper.
Fund custody is generally 0.25% on the first £250,000, 0.10% on the next £250,000, then zero.
Online dealing costs £5 for listed securities or £1.50 for funds; frequent share dealing can fall to £3.50.
International dealing FX is tiered at 0.75%, 0.50%, and 0.25% by trade value.

Lose

Options
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on options data.
Free-plan limits: Signup required, Brokerage access requires an approved eligible UK account, and Shares, funds, FX, taxes, levies, and investment products can each add charges.
UK tax residence required: New online accounts require UK tax residence. U.S. and Canadian citizens or tax residents are excluded.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
AJ BellTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open AJ Bell Compare

Full review and details

GrowwDrop-in replacementTransaction-priced · Fees vary by offer and jurisdictionPaid only

Drop-in replacement

Groww

Bottom line: Resident Indian investors who want stocks, ETFs, mutual funds, IPOs, and derivatives in one web and mobile account.

Keep

Brokerage
Portfolio
Watchlist
Options
Downloadable Tax Reports

Gain

One resident-India platform spans NSE/BSE cash equities, ETFs, direct mutual funds, F&O and MCX commodity derivatives.
Groww Invest Tech is a SEBI-registered broker and CDSL/NSDL depository participant.
Trading and demat opening and maintenance are listed at ₹0, with transaction and depository charges disclosed separately.
UPI, net banking and Indian bank transfers fund the trading balance, with eligible instant withdrawals under ₹1 lakh.

Lose

Advanced Order Types
$0 online stock and ETF commissions and $0 option base commission plus $0.65 per contract.
Linked eligible Bank of America transfers can be real time; external bank, wire, check, and account-transfer funding are supported.
Standard bank-sweep rates are currently 0.01%, 0.05%, or 0.15% by balance tier.
SIPC coverage is supplemented by Lloyd's excess protection subject to the disclosed aggregate and cash sublimits.

Watch out

Avoid as a full replacement if you rely on market monitoring.
Free-plan limits: Signup required, The current opening route is for resident Indian applicants and eligible Indian entities, not NRIs, and Trades incur brokerage, depository, exchange, tax and regulatory charges according to product and order type.
No NRI accounts: Groww expressly says NRIs cannot currently invest in mutual funds, stocks or F&O through the platform.

Price: Merrill EdgeTransaction-priced · Fees vary by offer and jurisdiction
GrowwTransaction-priced · Fees vary by offer and jurisdiction
Free tier: Paid only
Replacement: Drop-in replacement

Pricing checked 2026-08-23 via pricing.

Open Groww Compare

Full review and details

What This Shortlist Tells You

E*TRADE from Morgan Stanley is the closest drop-in replacement with overlapping coverage in Brokerage, Portfolio, and Watchlist while adding $0 online U.S. exchange-listed stock and ETF commissions; options cost $0.65 or $0.50 per contract by activity tier. and Eligible listed Reg-NMS fractions start at $5 and support quantities to three decimal places during the rollout. features (workflow overlap ~100%).

Budget-conscious? Try TC2000 to get started without a paid plan.

Round out your stack with new coverage areas like Smart/Direct Routing, Order Book / Level II, News, and Financials.

Coverage Snapshot

Where alternatives already align

Most shared categories across the top matches.

Brokerage×20Portfolio×20Watchlist×20Options×18Downloadable Tax Reports×16Advanced Order Types×8

New angles introduced

Categories the alternatives add beyond Merrill Edge.

News+5Smart/Direct Routing+4Order Book / Level II+3Paper Trading+3Screeners+3Alerts+2APIs & Data Feeds+2Calendar+2

Access & Pricing

Free options

1/20

1 picks introduce a free tier you can start with.

Mobile ready

20/20

20 matches support mobile alongside Merrill Edge.

API availability

3/20

3 of the shortlisted tools expose API endpoints for automation-heavy workflows.

Quality checks

2 starred / 2 tested

2 tools are flagged as analyst picks; 2 have been hands-on tested.

Avg. coverage overlap

96%

Average percentage of categories shared with the base tool.

Frequently Asked Questions

What are the best alternatives to Merrill Edge?

Merrill Edge users most often consider E*TRADE from Morgan Stanley, Fidelity (Fidelity Brokerage Services LLC), and Webull as their go-to alternatives.

Which alternatives keep a free tier?

TC2000 offer a free plan or trial option, making them easy to test before committing to a paid subscription.

Which workflows do the top Merrill Edge alternatives cover?

Expect deep coverage across Advanced Order Types, Brokerage, Downloadable Tax Reports, Options, Portfolio, and Watchlist, so you can port most Merrill Edge workflows without much friction.

Keep Exploring

Wide Moat StocksBrowse the current moat score ranking and company-level moat notes.

Short InterestDaily tracker for heavily shorted stocks and short squeeze candidates.

Stock RankingsBacktested ranking systems for quality, value, momentum, and more.

Live AnalyticsSee what users are clicking, searching, and voting for across the site.

Research ToolsFind screeners, data platforms, portfolio trackers, and research tools.

Feedback

Missing an alternative, or is a listing out of date? Tell me and I will look.

Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.

★Merrill Edge Alternatives & Competitors★

Alternatives to Merrill Edge

Which Alternative Should You Use?

E*TRADE from Morgan Stanley

TC2000

Interactive Brokers (IBKR)

Fidelity (Fidelity Brokerage Services LLC)

Detailed Alternatives

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Merrill Edge Alternatives & Competitors