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Merrill Lynch vs JP Morgan (2026)
JP Morgan Chase vs Merrill Lynch: which firm is better? Compare (Roth) IRA
accounts, online investing fees, stock broker mutual fund rates, and differences.
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Overview of Merrill Lynch and JP Morgan
It’s now easy to invest in the stock market and other products at a very low cost with an online brokerage account. Merrill Edge and Chase’s J.P. Morgan Investing both offer securities trading with excellent prices. Let’s compare these two services.
Cost
| Broker Fees |
Stock/ETF
Commission |
Mutual Fund
Commission |
Options
Commission |
Maintenance
Fee |
Annual IRA
Fee |
|
Merrill Edge
|
$0
|
$19.99
|
$0.65 per contract
|
$0
|
$0
|
|
Chase
|
$0
|
$0
|
$0.65 per contract
|
$0
|
$0
|
|
Charles Schwab
|
$0
|
$49.95 ($0 to sell)
|
$0.65 per contract
|
$0
|
$0
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Services
Promotions
Charles Schwab: $0 commissions + ACAT rebate + satisfaction guarantee at Charles Schwab.
J.P. Morgan:
Get $0 stock commissions at J.P. Morgan.
Merrill Edge: Get $0 stock commissions at Merrill Edge.
Investing Overview
Both brokerages here offer self-directed services. You can trade stocks, options, mutual funds, closed-end funds, ETFs, and bonds. For options, J.P. Morgan Investing only supports calls and puts, while Merrill Edge also has spreads. For stocks, Merrill Edge allows short selling, which J.P. Morgan Investing does not.
Merrill Edge additionally has managed accounts at 0.45% per year. There’s also a hybrid model that includes personalized help from a financial advisor for an annual 0.85% fee.
You need to open either a brokerage or managed account with some type of tax registration. Merrill Edge has 529 plans, custodial accounts, IRAs, trusts, Health Savings Accounts, estate accounts, and solo 401k plans. J.P. Morgan Investing doesn’t provide most of these.
Winner: Merrill Edge
Margin
Merrill Edge self-directed clients can select cash or margin. A cash account can be switched to a margin account (the form can be found under the Help & Settings menu).
Most brokers set margin interest using your account’s debit balance and a base lending rate, which can change if the Federal Reserve adjusts its target rate. Merrill Edge adds one more factor: combined deposits at Bank of America. Based on these three things, interest can range from 12.18% to 8.18%.
J.P. Morgan Investing has margin, too, with rates running from 11.5% to 9.25%.
Winner: J.P. Morgan
Bank Products
J.P. Morgan Investing doesn’t let you attach checks or a debit card to an investment account. However, you can link it to a Chase Bank checking or savings account. This link is automatically set up on the website and the mobile app.
Merrill Edge can add a debit card and checkwriting to an investment account at no charge. You can also link a Bank of America checking or savings account to Merrill Edge, and this link also appears automatically.
In either case, moving money between your deposit and investment accounts can be done easily on the firm’s site or app.
Winner: Merrill Edge
Websites
Merrill Edge customers get a friendly website and a browser-based platform. Together, these provide many tools, such as:
- Full-screen charts with lots of features
- VWAP calculator
- Advanced options strategies
- Level II data
- Sell short and buy to cover choices
- Technical analysis at no cost
- Economic calendar
J.P. Morgan Investing’s site is simpler. It doesn’t have many advanced trading features, although there is a chart tool with some functions. The chart can’t be expanded to the full monitor size, so capability is limited.
J.P. Morgan Investing’s dashboard has tiles that give you data like asset allocation, watchlists, market indexes, and top news.
Winner: Merrill Edge
Mobile Apps
Beyond its website, Merrill Edge provides a mobile app with horizontal charting, spending and budgeting tools, option chains, mobile check deposit, and extensive research (like stock analysis and news).
J.P. Morgan Investing operates through the Chase Bank app. Its investment side offers vertical charts, check deposit, security scanners, JPMorgan analyst reports, Morningstar ratings, and more.
Both apps use the trade forms seen on their websites, so Merrill Edge’s app supports more order types than J.P. Morgan Investing’s app.
Winner: Merrill Edge
Supplementary Services
IRA Lineups: Both Merrill Edge and J.P. Morgan Investing offer Individual Retirement Accounts, but Merrill Edge has more kinds of IRAs. Merrill charges a $49.95 IRA closeout fee, while J.P. Morgan charges $75.
Automatic Mutual Fund Investing: Available at both brokerages.
Fractional Shares: Neither allows fractional stock or ETF trades.
IPO Access: Not offered at either.
Extended Hours: Merrill Edge has it for self-directed accounts only.
DRIP Service: Both brokerages have free dividend reinvestment.
Fully-Paid Stock Lending: Neither firm offers it.
Winner: Merrill Edge
Promotions
Robinhood:
3% deposit match and up to $200 FREE stock at Robinhood.
J.P. Morgan:
Get $0 stock commissions at J.P. Morgan.
Merrill Edge: Get $0 stock commissions at Merrill Edge.
Finally, Our Recommendations
Mutual Fund Trading: Merrill Edge’s screener shows around 2,700 funds, while J.P. Morgan has a bit over 7,000. Firstrade has more than 11,000 funds at no cost.
Beginning Investors: We like Merrill Edge Guided Investing with an Advisor, which gives you a dedicated financial professional.
Retirement Planning & Long-Term Investing:
Charles Schwab has a wide range of retirement services.
Small Accounts: Neither firm has minimum balance or ongoing fees for self-directed trading.
Stock and ETF Trading: Merrill Edge’s browser-based platform is stronger than what J.P. Morgan Investing offers.
Find a Financial Advisor
If you are looking for a professional money management service in your area, you can
find a Financial Advisor on the Wiser Advisor
(or read
Wiser Advisor review).
Visit Wiser Advisor
JP Morgan Chase vs Merrill Lynch: Results
It’s not a close matchup. Merrill Edge wins by a solid margin.
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Updated on 8/11/2025.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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