Platform Comparison

Merrill Edge vs TD Ameritrade

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

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

Higher Rated

TD Ameritrade

★4.7

The legendary thinkorswim platform lives on under Schwab. All TD Ameritrade accounts have been migrated—new customers should open a Schwab account directly.

Full Review

Feature Comparison

Feature	Merrill Edge	TD Ameritrade
Our Rating	4.5/5	4.7/5
Trading Commissions	$0	N/A
Account Minimum	$0	N/A
Fractional Shares	DRIP only	N/A
DRIP	Free	Via Schwab
Research Tools	Good	Good
Best For	Bank of America Customers	Former TD Ameritrade Customers

Pros & Cons

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

TD Ameritrade

Pros

+ thinkorswim platform retained and integrated into Schwab
+ All former TD Ameritrade accounts successfully migrated
+ Commission-free trading continues under Schwab
+ 400+ technical analysis tools in thinkorswim
+ Trading simulator for practice without risk

Cons

- TD Ameritrade no longer accepts new accounts
- TD Ameritrade API permanently shut down
- Some interface changes during Schwab transition
- Former TD-only features may differ slightly

Which Platform is Right for You?

Choose Merrill Edge if you...

Want bank of america customers focused features

Choose TD Ameritrade if you...

Want former td ameritrade customers focused features
Prefer a higher-rated overall platform

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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.