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.
4.2 / 5
Best for cost-conscious active traders who want $0 options, free Level II, fast routing, and broad crypto coverage. Educational depth and fixed-income shelves are thinner than the full-service incumbents.
Each broker scored 0–5 across the same 8 dimensions.
Green cells mark the winner on each metric. Tie rows are uncoloured.
| Metric | Merrill | Webull | Winner |
|---|---|---|---|
| OverallEditorial score | 3.80 / 5 | 4.20 / 5 | Webull |
| Sub-ratingsCommissions & fees | 3.80 | 4.80 | Webull |
| Sub-ratingsPlatforms & tools | 3.80 | 4.50 | Webull |
| Sub-ratingsMobile app | 3.50 | 4.70 | Webull |
| Sub-ratingsResearch | 5.00 | 3.80 | Merrill |
| Sub-ratingsEducation | 4.00 | 3.50 | Merrill |
| Sub-ratingsCustomer service | 4.00 | 3.80 | Merrill |
| Sub-ratingsRange of investments | 3.00 | 3.70 | Webull |
| Sub-ratingsActive trading | 3.30 | 4.40 | Webull |
| PricingLowest margin rate | 4.50% | 5.74% | Merrill |
| PricingDefault cash sweep yield | 0.01% | 4.10% | Webull |
| PricingPFOF on equities | Does not accept | Accepts | Merrill |
| Asset class | Merrill | Webull |
|---|---|---|
| US stocks (NYSE/Nasdaq/AMEX) | Yes | |
| OTC / penny stocks | No | Limited |
| Fractional shares | No | Yes |
| Options (Levels 1–5) | Yes | |
| Mutual funds | Yes | No |
| Corporate / muni bonds, CDs | Yes | |
| Futures | No | Yes |
| Crypto (direct) | No | Yes |
| International stocks | Limited | |
| 24-hour overnight equity trading | No | |
| US stocks | Yes | |
| Options (equity, ETF, index) | Yes | |
| Corporate bonds | No | |
| International stocks (US app) | No | |
| 24-hour overnight trading | Yes | |
| Prediction markets | Yes |