TradeZero Promotion

TradeZero Promotion


Current TradeZero promotion code and bonus. November 2023 best TradeZero America and TZ International Bahama special offers, referrals for opening new account or for existing customers depositing cash into regular brokerage account, ROTH IRA, or 401K rollover IRA.


TradeZero America Promotion




TradeZero Competitor Promotions


Broker Review Promotion
Offer
Stock/ETF
Commission
Mutual Fund
Commission
Maintenance
Fee
Annual IRA
Fee
ZacksTrade Get 7,33% margin rates and trades as low as $1. $1+ $27.50 $0 $0
WeBull Get 12 free stocks when you open an account. $0 na $0 $0
Firstrade Earn up to $4,000 cash bonus and $200 transfer fee rebate. $0 $0 $0 $0


Overview of TradeZero and Merrill Edge


While TradeZero is the go-to brokerage firm for active traders, Merrill Edge has a very sophisticated desktop platform that rivals the best software TradeZero has to offer. Could Merrill actually be the better broker for frequent trading? Let’s find out.


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
TradeZero $0 na $0 per contract $0 na


Services


Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
Merrill Edge
TradeZero


Category #1: Available Assets


If you open an investment account at Merrill Edge, you’ll be able to trade these securities:

- Fixed-income products
- Options
- ETFs
- Mutual and closed-end funds
- Stocks

If you choose TradeZero, you’ll lose bonds and mutual funds.

Winner: Merrill Edge


Category #2: PC Software


At Merrill Edge, you can place trades and conduct research on a very good website. Charting with tools and an advanced order ticket are standard fare. If you want a more professional experience, you can download MarketPro, the firm’s flagship desktop program. There is no charge or balance requirement, and the software has many advanced features.


Merrill Edge Trading


TradeZero has one browser platform that is free to use. Aptly named ZeroFree, it offers real-time news, but oddly doesn’t have options trading (this can be added for $25 per month).


Tradezero promo


TradeZero’s desktop program is the most advanced trading platform. Like MarketPro, it does have a lot of sophisticated features, but it costs $59 per month to use.

Winner: Merrill Edge


Category #3: Mobile Apps


With TradeZero’s app, you can directly route an order to a specific venue or locate stocks that are available for shorting. The platform also has a watchlist and charting.


Zeromobile


Merrill’s app doesn’t have direct-access routing or a short locate tool. It does, however, provide mobile check deposit and bill pay, both of which are absent on the TradeZero app. A watchlist makes an appearance on Merrill’s platform, and options can be traded on the app, too. For some odd reason, TradeZero doesn’t provide options capability on its app.


Merrill Edge


Winner: Draw


Category #4: Day Trading & Swing Trading


Shorting. Although you can sell short at Merrill Edge, the broker doesn’t have a short locate widget. TradeZero does.

Extended Hours. Merrill’s pre-market session starts at 7:30 am, EST. TradeZero’s early-bird session opens at 4:00 am. Their after-hours sessions are the same length.

Level 2 Quotes. You can get Level 2 quotes at Merrill Edge for free. TradeZero charges for them.

Direct-access Routing. It’s possible to send orders to specific market venues with TradeZero’s software. Merrill Edge doesn’t offer this service.

Margin. The US branch of TradeZero charges 5% for margin loans. Merrill Edge is around 8%. The Caribbean branch of TradeZero offers 6:1 day-trading leverage. Merrill Edge does not.

Routing Fees and Rebates. Only available through TradeZero US.

Pattern Day-Trading Rule. Opening an account with TradeZero Bahamas will create a method to avoid America’s PDT regulation.

Winner: TradeZero


Category #5: Options Trading


If you’re interested in trading derivatives, Merrill Edge has several tools for you. One of the most salient is its strategy builder. With this gadget, you simply enter a stock’s ticker symbol, and then specify whether you’re bullish, bearish, or neutral. You can also predict the stock’s level of volatility. Then Merrill’s software will suggest several option strategies, such as iron condor, short strangle, or reverse butterfly put.

TradeZero does offer trading in options, but its software is only capable of trading calls and puts.

Winner: Merrill Edge


Category #6: Miscellaneous Services


Dividend Reinvestment Program: You can reinvest dividends as additional shares at Merrill Edge, but not at TradeZero.

IRAs: TradeZero doesn’t offer any retirement accounts. Merrill Edge does, and in fact, it has a self-employed 401(k) and a Keogh plan as well.

Fractional-share Trading: Neither firm offers whole-dollar investing, at least not yet.

Investment Advice: Merrill Edge offers two low-cost managed accounts. Both cost less than 1% annually. One is an online program, while the other offers one-on-one meetings with a licensed financial advisor.

Winner: Merrill Edge


At Last, Our Recommendations


Small Accounts: Merrill Edge (retirement accounts do have a closeout fee, however).

Mutual Fund Investors: The only option is Merrill.

Beginners: On Merrill Edge’s Investor Education section, the broker offers a good selection of learning materials. Plus, stock profiles have free pdf reports with trade recommendations. And we have to mention the broker’s 24/7 customer service. TradeZero fails to provide any of these services that new traders need.

Long-Term Investors and Retirement Savers: This one is a no brainer. Merrill Edge has target-date mutual funds, financial advisory services, a variety of retirement accounts, and customer service to back it all up.

Stock/ETF Trading: This one is more difficult to call. Yes, both firms have advanced desktop software. But TradeZero charges a monthly fee; although if you plan to day trade, it may be worth it. If you need analysis tools, go with Merrill.


Promotions


Merrill Edge: Get up to $600 when you open a new Merrill Edge account with at least $20,000.

TradeZero: Trade stocks, options & ETFs for free.



TradeZero vs Merrill Edge Summary


To answer our original question, it does appear that Merrill Edge is quite competitive for active traders, although it will depend on how exactly you plan to trade and what your budget is. If you need some support and guidance along the way, Merrill Edge is definitely the broker to choose.


TradeZero Promotion Code Disclaimer


TradeZero promotion incentive details can change without notice. Read TradeZero promotion offer's fine print on their website before opening an account.