Platform Comparison

E*TRADE vs Merrill Edge

Detailed side-by-side comparison to help you choose the best platform for dividend investing

Higher Rated

E*TRADE

★4.6

A full-service brokerage backed by Morgan Stanley, offering exceptional research, education, and five trading platforms for every skill level.

Full Review

Merrill Edge

★4.5

Bank of America's brokerage offering seamless banking integration, solid research tools, and the valuable Preferred Rewards program for qualifying customers.

Full Review

Feature Comparison

Feature	E*TRADE	Merrill Edge
Our Rating	4.6/5	4.5/5
Trading Commissions	$0	$0
Account Minimum	$0	$0
Fractional Shares	DRIP only	DRIP only
DRIP	Free	Free
Research Tools	Excellent	Good
Best For	Research-Focused Investors	Bank of America Customers

Pros & Cons

E*TRADE

Pros

+ Commission-free trading on stocks and ETFs
+ Industry-leading research from Morgan Stanley, Morningstar, and MarketEdge
+ Free dividend reinvestment with fractional share support
+ Five trading platforms from beginner-friendly to professional
+ 5,000+ no-transaction-fee mutual funds

Cons

- No direct fractional share purchases (only through DRIP)
- Website navigation can be confusing
- Low interest rate on uninvested cash
- No cryptocurrency trading (coming 2026)

Merrill Edge

Pros

+ Commission-free trading on stocks and ETFs
+ Seamless integration with Bank of America accounts
+ Selective DRIP—choose which securities reinvest dividends
+ DRIP supports fractional share reinvestment
+ Preferred Rewards program offers fee discounts and bonuses

Cons

- No direct fractional share purchases (DRIP only)
- Mutual fund transaction fees up to $19.95
- Low interest rate on uninvested cash
- $49.95 full account transfer fee

Which Platform is Right for You?

Choose E*TRADE if you...

Want research-focused investors focused features
Prefer a higher-rated overall platform

Choose Merrill Edge if you...

Want bank of america customers focused features

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Investment Disclaimer

Investing involves risk, including possible loss of principal. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice.