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.
4.3 / 5
Best mobile-first broker for beginners, casual options traders, IRA contributors who want a 3% match, and 24-hour stock access. Significant gaps in OTC, mutual funds, and 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 | Robinhood | Winner |
|---|---|---|---|
| OverallEditorial score | 3.80 / 5 | 4.30 / 5 | Robinhood |
| Sub-ratingsCommissions & fees | 3.80 | 5.00 | Robinhood |
| Sub-ratingsPlatforms & tools | 3.80 | 4.00 | Robinhood |
| Sub-ratingsMobile app | 3.50 | 5.00 | Robinhood |
| Sub-ratingsResearch | 5.00 | 3.50 | Merrill |
| Sub-ratingsEducation | 4.00 | 3.50 | Merrill |
| Sub-ratingsCustomer service | 4.00 | 3.80 | Merrill |
| Sub-ratingsRange of investments | 3.00 | 3.50 | Robinhood |
| Sub-ratingsActive trading | 3.30 | 4.00 | Robinhood |
| PricingLowest margin rate | 4.50% | 5.00% | Merrill |
| PricingDefault cash sweep yield | 0.01% | 3.35% | Robinhood |
| PricingPFOF on equities | Does not accept | Accepts | Merrill |
| Asset class | Merrill | Robinhood |
|---|---|---|
| OTC / penny stocks | No | |
| Fractional shares | No | Yes |
| Options (Levels 1–5) | Yes | |
| Mutual funds | Yes | No |
| US Treasuries | Yes | |
| Corporate / muni bonds, CDs | Yes | |
| Futures | No | Yes |
| Crypto (direct) | No | Yes |
| International stocks | Limited | |
| 24-hour overnight equity trading | No | Yes |
| OTC / Pink Sheets / OTCQX / OTCQB | No | |
| Options (equity, ETF, index) | Yes | |
| Bonds | No | |
| International stocks (from US) | No | |
| IPOs | Yes | |
| Prediction markets | Yes |