If you’re a Bank of America customer or want the best ESG investing platform, Merrill Edge is worth using. But it’s far from your only option. Competitors like Charles Schwab and Robinhood are superior in some scenarios. Here’s how all three platforms compare.
| Highlights | |||
|---|---|---|---|
| Rating | /10 | 8/10 | 8.5/10 |
| Min. Investment | $ | $0 | $0 |
| Stock Trades | $/trade | $0/trade | $0/trade |
| Options Trades | $0.65/contract | $0 | |
| Crypto Trades | false | false | true |
| Mutual Funds | false | true | false |
| Virtual Trading | false | false | true |
Charles Schwab takes the edge for fractional share investing and its Intelligent Portfolios robo-advisor which doesn’t charge advisory fees. Furthermore, it offers automatic rebalancing just like Merrill Edge. And you can also get professional, human advice for a $30 monthly fee or $300 one-time planning fee.
As for Robinhood, it’s more of a beginner-friendly way to trade stocks, ETFs, options, and crypto. You can even dabble in crypto trading with just $1.
Merrill Edge still reigns supreme for ESG investing. It also has some of the best research and education offerings out there. Ultimately, picking the right platform depends on how you invest and which asset classes are most important.