Wells Fargo vs. Merrill Edge Introduction
Merrill Edge and WellsTrade are not the most well-known brokerage firms, but they still have a lot to offer. Here is what you need to know:
First Category: Investment Services
Merrill Edge customers can trade several types of investments:
- Equities (including OTC stocks)
- Fixed income
- Option contracts
- Funds (mutual, closed-end, and exchange-traded)
WellsTrade offers the same choices.
Both companies have investment management options. You can let professionals manage your investments at either company. Wells Fargo has both robo and traditional accounts, with different fees and minimum amounts required. The automated service charges 0.35% per year.
Merrill Edge also offers investment management for a low cost, but their advisory service is not a robo-advisor. The fee is 0.45%.
Winner: WellsTrade
Second Category: Websites
It is easy to manage both advisory and self-directed accounts on the websites of both brokers. If you have a self-directed account, you will find many trading tools for placing orders and looking at charts.
The Merrill Edge website has a trade ticket with separate buttons for selling short and buying to cover. There is also a tab for trading during extended hours. There are eight order types available, such as trailing and stop quote limit.
Charts on Merrill’s website include several useful features, like different chart styles and technical indicators. But you cannot view a chart in full-screen mode.
MarketPro, an advanced web browser platform, solves this problem. You can start MarketPro from the Trade tab. It gives you full-screen charting and many other features, such as Options Play for advanced options trading.
WellsTrade’s website does not have an advanced trading platform. You also cannot make a chart fill the whole screen, but there are a few charting tools, including drawing tools.
There is no advanced options platform on the WellsTrade website, and only call and put options can be traded. Spreads are not available.
The order ticket is fine, though. In our review, we found options for cash and margin trading, along with four types of orders. You can get execution alerts by email.
Winner: Merrill Edge
Third Category: Mobile Apps
The Merrill Edge mobile app is not as powerful as MarketPro. The app has fewer features, but it still includes horizontal charting with tools and the same order ticket as the website.
The WellsTrade app has fewer charting features and no charting tools. But you do get alerts and a watchlist, as well as the website’s order form.
Merrill Edge’s app has better research tools, with many resources on investing and planning for college. WellsTrade’s app does not have these, but it does include many banking tools from Wells Fargo Bank.
Winner: Merrill Edge
Fourth Category: Margin Trading
Both firms let you trade with borrowed money, not just cash. WellsTrade charges interest using a sliding scale that starts at 12.5%. Merrill Edge does not list its margin rates anymore. The rates depend on your account balance and how much you borrow, as well as total assets with Bank of America.
Winner: Draw
Fifth Category: Additional Services
Extended-hours Trading: Merrill Edge customers can trade before the market opens and after it closes. WellsTrade customers can only trade for 2.5 hours after the market closes.
IPO Service: Neither firm lets you buy shares in Initial Public Offerings.
Fractional Shares: At both WellsTrade and Merrill Edge, you can only buy mutual funds with whole dollars. You cannot buy fractions of other types of securities.
Systematic Mutual Fund Investing: Both firms let you set up automatic purchases of mutual funds.
Individual Retirement Accounts: Both offer IRAs. Both have IRA closing fees. Merrill Edge charges $49.95, and WellsTrade charges the same.
Cash Management Tools: Since both are owned by large banks, you can get extra banking features like checkbooks, debit cards, FICO scores, credit cards, and more.
DRIP: Dividend reinvestment is free at both companies.
Winner: Merrill Edge
Our Recommendations
Small Accounts: Both have no minimum or annual fee for self-managed accounts. Merrill Edge needs $1,000 for an advisory account. Wells Fargo Advisors needs $500.
Equity Trading: Merrill Edge is best, especially with MarketPro.
Long-Term Investors and Retirement Savers: Either company is a good choice.
Beginners: We recommend Merrill Edge’s “Online with an advisor” program. This is a managed account with personal help from a financial planner. You need $20,000 to start.
Mutual Fund Trading: Both firms have fewer than 3,000 mutual funds available for new investors. Merrill Edge has a better fund screener, so we prefer Merrill.
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Merrill Lynch vs Wells Fargo Brokerage Summary
These two are about equal overall.
Updated on 1/1/2026.
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