Platform Comparison

Merrill Edge vs TD Ameritrade

Compare Merrill Edge and TD Ameritrade on fees, DRIP, fractional shares and research for dividend investing.

ME

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

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

Merrill Edge vs TD Ameritrade: Fees, Minimums & DRIP Compared

FeatureMerrill EdgeTD Ameritrade
Our Rating4.5/54.7/5
Trading Commissions$0N/A
Account Minimum$0N/A
Fractional SharesDRIP onlyN/A
DRIPFreeVia Schwab
Research ToolsGoodGood
Best ForBank of America CustomersFormer TD Ameritrade Customers

Merrill Edge vs TD Ameritrade: Pros and 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 Is Better for Dividend Investors: Merrill Edge or TD Ameritrade?

Choose Merrill Edge if you...

  • Are in Merrill Edge's core audience: bank of america customers

Choose TD Ameritrade if you...

  • Are in TD Ameritrade's core audience: former td ameritrade customers
  • Prefer a higher-rated overall platform

Want the full breakdown of fees, DRIP, and research tools? Read our Merrill Edge review and TD Ameritrade review.

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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.