Head-to-head comparison across ratings, fees, asset coverage, and platform breadth.
4.4 / 5
Solid full-service broker for mainstream investors who value Power E*TRADE's active-trader tools, deep mutual-fund and bond shelves, and Morgan Stanley's wealth backbone. No fractional shares is the standout weakness.
3.8 / 5
Best for Bank of America customers with $100K+ combined balances who want IRA, banking, credit card, and brokerage under one login. Outside that fit, Fidelity, Schwab, or IBKR are stronger pure-trading platforms.
Each broker scored 0–5 across the same 8 dimensions.
Green cells mark the winner on each metric. Tie rows are uncoloured.
| Metric | E*TRADE | Merrill | Winner |
|---|---|---|---|
| OverallEditorial score | 4.40 / 5 | 3.80 / 5 | E*TRADE |
| Sub-ratingsCommissions & fees | 4.00 | 3.80 | E*TRADE |
| Sub-ratingsPlatforms & tools | 4.50 | 3.80 | E*TRADE |
| Sub-ratingsMobile app | 4.50 | 3.50 | E*TRADE |
| Sub-ratingsResearch | 4.50 | 5.00 | Merrill |
| Sub-ratingsEducation | 4.50 | 4.00 | E*TRADE |
| Sub-ratingsCustomer service | 4.70 | 4.00 | E*TRADE |
| Sub-ratingsRange of investments | 4.50 | 3.00 | E*TRADE |
| Sub-ratingsActive trading | 4.30 | 3.30 | E*TRADE |
| PricingLowest margin rate | 10.45% | 4.50% | Merrill |
| PricingDefault cash sweep yield | 3.60% | 0.01% | E*TRADE |
| PricingPFOF on equities | Accepts | Does not accept | Merrill |
| Asset class | E*TRADE | Merrill |
|---|---|---|
| OTC / penny stocks | Limited | No |
| Options (single & multi-leg) | Yes | |
| Corporate / muni bonds | Yes | |
| Futures | Yes | No |
| Crypto (direct) | Limited | No |
| IPOs | Yes | |
| 24-hour overnight equity trading | Limited | No |
| Options (Levels 1–5) | Yes | |
| Corporate / muni bonds, CDs | Yes | |
| Pre-market trading | Yes | |
| After-hours trading | Yes |