Head-to-head comparison across ratings, fees, asset coverage, and platform breadth.
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.
4.0 / 5
One of the most powerful low-cost platforms for active equity and options traders in the US. Free NASDAQ TotalView Level 2, $0 equity options, flat 6.8% margin, and Hong Kong/China A-share access. Structurally incomplete: no IRAs, no joint accounts, no mutual funds, no bonds.
Each broker scored 0–5 across the same 8 dimensions.
Green cells mark the winner on each metric. Tie rows are uncoloured.
| Metric | Merrill | Moomoo | Winner |
|---|---|---|---|
| OverallEditorial score | 3.80 / 5 | 4.00 / 5 | Moomoo |
| Sub-ratingsCommissions & fees | 3.80 | 4.70 | Moomoo |
| Sub-ratingsPlatforms & tools | 3.80 | 4.50 | Moomoo |
| Sub-ratingsMobile app | 3.50 | 4.50 | Moomoo |
| Sub-ratingsResearch | 5.00 | 4.00 | Merrill |
| Sub-ratingsEducation | 4.00 | 4.00 | Tie |
| Sub-ratingsCustomer service | 4.00 | 3.50 | Merrill |
| Sub-ratingsRange of investments | 3.00 | 3.50 | Moomoo |
| Sub-ratingsActive trading | 3.30 | 4.50 | Moomoo |
| PricingLowest margin rate | 4.50% | 6.80% | Merrill |
| PricingDefault cash sweep yield | 0.01% | — | Merrill |
| PricingPFOF on equities | Does not accept | Does not accept | Tie |
| Asset class | Merrill | Moomoo |
|---|---|---|
| US stocks (NYSE/Nasdaq/AMEX) | Yes | |
| OTC / penny stocks | No | |
| Options (Levels 1–5) | Yes | |
| Mutual funds | Yes | No |
| US Treasuries | Yes | |
| Corporate / muni bonds, CDs | Yes | |
| Crypto (direct) | No | Yes |
| International stocks | Limited | |
| 24-hour overnight equity trading | No | Yes |
| US stocks (NYSE/Nasdaq) | Yes | |
| OTC stocks | Limited | |
| Equity options (up to 4-leg) | Yes | |
| Index options (SPX, NDX, including 0DTE) | Yes | |
| US Treasuries / individual bonds | No | |
| Hong Kong stocks (HKEX) | Yes | |
| China A-shares | Yes | |
| ADRs | Yes | |
| IRAs (Traditional, Roth, Rollover, SEP, SIMPLE) | No | |
| Joint / custodial / trust accounts | No |