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.
3.7 / 5
Direct-access broker built for active day traders who need DAS Trader Pro, ECN order routing, integrated short locates, and OTC/penny stock access. Strong on short-locate workflow; weak on transparency, mobile, and reputation given multiple FINRA enforcement actions.
Each broker scored 0–5 across the same 8 dimensions.
Green cells mark the winner on each metric. Tie rows are uncoloured.
| Metric | Merrill | SpeedTrader | Winner |
|---|---|---|---|
| OverallEditorial score | 3.80 / 5 | 3.70 / 5 | Merrill |
| Sub-ratingsCommissions & fees | 3.80 | 3.50 | Merrill |
| Sub-ratingsPlatforms & tools | 3.80 | 4.30 | SpeedTrader |
| Sub-ratingsMobile app | 3.50 | 2.50 | Merrill |
| Sub-ratingsResearch | 5.00 | 2.50 | Merrill |
| Sub-ratingsEducation | 4.00 | 2.50 | Merrill |
| Sub-ratingsCustomer service | 4.00 | 4.00 | Tie |
| Sub-ratingsRange of investments | 3.00 | 2.80 | Merrill |
| Sub-ratingsActive trading | 3.30 | 4.70 | SpeedTrader |
| PricingLowest margin rate | 4.50% | 8.00% | Merrill |
| PricingDefault cash sweep yield | 0.01% | — | Merrill |
| PricingPFOF on equities | Does not accept | Does not accept | Tie |
| Asset class | Merrill | SpeedTrader |
|---|---|---|
| OTC / penny stocks | No | |
| Options (Levels 1–5) | Yes | |
| Mutual funds | Yes | Limited |
| US Treasuries | Yes | |
| Corporate / muni bonds, CDs | Yes | |
| International stocks | Limited | |
| OTC / Pink Sheets / OTCQX / OTCQB | Yes | |
| Options (equity, ETF, SPX, other indices) | Yes | |
| US Treasuries / bonds | Limited | |
| Foreign stocks ("F" tickers) | Limited | |
| IRAs | No | |
| Cash accounts | No | |
| Hard-to-borrow short locates | Yes |