Introduction
If you are looking for a reliable online brokerage service, you might have come across Fidelity and Merrill Edge. Both are popular names in the world of investment, but which one suits you better? In this article, we will compare the two services, highlighting their features, fees, and other important aspects.
Background
Fidelity was established in 1946 and has since become one of the largest financial services companies in the world. It offers a wide range of investment options, including stocks, bonds, mutual funds, and exchange-traded funds (ETFs). Merrill Edge, on the other hand, was launched in 2010 as a subsidiary of Bank of America. It aims to provide a user-friendly platform for investors, offering a range of investment options and tools.
Investment Options
Both Fidelity and Merrill Edge offer a wide range of investment options. Fidelity provides access to over 10,000 mutual funds, including its own branded funds. It also offers stocks, bonds, ETFs, and options trading. Merrill Edge, on the other hand, offers a range of mutual funds, stocks, bonds, ETFs, and options trading. However, it does not have its own branded funds like Fidelity.
Platform and Tools
Fidelity and Merrill Edge both offer user-friendly platforms for investors. Fidelity’s platform is called Active Trader Pro, which is a desktop-based platform with advanced charting tools and real-time data. It also has a mobile app for on-the-go trading. Merrill Edge’s platform is called Merrill Edge MarketPro, which is also a desktop-based platform with advanced trading tools. It also has a mobile app for trading on the go.
Account Minimum and Fees
Fidelity has no account minimums for brokerage accounts. However, some mutual funds may require a minimum investment. Fidelity charges $4.95 per trade for stocks and ETFs, and $0 for mutual funds. Merrill Edge requires a minimum investment of $0 for brokerage accounts. It charges $6.95 per trade for stocks and ETFs, and $0 for mutual funds.
Research and Education
Fidelity and Merrill Edge both offer a range of research and educational resources for investors. Fidelity provides access to third-party research reports and tools, as well as educational resources such as webinars and articles. Merrill Edge offers its own research reports, as well as access to third-party research. It also provides educational resources such as articles and videos.
Customer Service
Both Fidelity and Merrill Edge offer customer service via phone, email, and live chat. Fidelity also has a network of over 190 branch locations where you can get in-person help. Merrill Edge has over 2,500 Bank of America locations where you can get in-person help.
Security
Both Fidelity and Merrill Edge take security seriously and use industry-standard security measures to protect their clients’ accounts. They also offer two-factor authentication and other security features to prevent unauthorized access to accounts.
Pros and Cons
Fidelity’s pros include access to a wide range of investment options, a user-friendly platform, and no account minimums. Its cons include higher trading fees for stocks and ETFs compared to Merrill Edge. Merrill Edge’s pros include a lower trading fee for stocks and ETFs, a user-friendly platform, and access to Bank of America’s network. Its cons include a smaller selection of mutual funds compared to Fidelity.
Conclusion
In conclusion, both Fidelity and Merrill Edge offer a range of investment options and user-friendly platforms. Choosing between the two depends on your personal preferences and investment goals. Fidelity may be a better option if you are looking for a wider selection of mutual funds and advanced charting tools. Merrill Edge may be a better option if you want a lower trading fee for stocks and ETFs and access to Bank of America’s network.
