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Interactive Brokers vs Merrill Edge
The same facts side by side. Swap a broker from the menu under its logo; the best value in each row is marked.
- Interactive Brokers leads
- 3
- Merrill Edge leads
- 1
- Level
- 5
Of 9 scored facts, Interactive Brokers leads on 3, Merrill Edge on 1, and 5 are level. Countries and the offer are not scored.
Head-to-head
The best value in each row is marked; rows where every broker matches carry no mark.| Fact |  Interactive Brokers |  Merrill Edge |
|---|---|---|
| Fee per contract | $0.65 per contract | $0.65 per contract |
| Interactive Brokers, $1 minimum; additional fees | Merrill Edge, Cash-settled exercise and assignment charged per contract | |
| Exercise and assignment | Free | Free |
| Approval | Naked | Naked |
| Interactive Brokers, Up to naked short options | Merrill Edge, Up to naked short options | |
| 0DTE | Yes | Yes |
| Index options (SPX) | Yes | Yes |
| Options on futures | Yes | Not published |
| Spreads in an IRA | YesBest | No |
| Portfolio margin | Yes | Not published |
| Margin rate | 5.38% | Not published |
| Platforms | Web, Desktop, Mobile, APIBest | Web, Mobile |
| Paper trading | Yes | Not published |
| 24/7 support | No | YesBest |
| Countries | Over 200 countries and territories (IBKR group) | US residents only |
| QuantWheel | Sync-onlyBest | Not connected |
| Interactive Brokers, Reads the account; you place the orders | ||
| Offer |
Facts from each broker's fee schedule and options agreement, checked 8 October 2026. Best marks the lowest cost or the widest allowance in a row.
The two brokers
One paragraph each.Interactive Brokers$0.65 per contract · free exercise · naked
Interactive Brokers opens options accounts for residents of the United States, Mexico and Brazil, among the 9 countries this directory covers. It charges $0.65 per contract ($1 minimum; additional fees). Exercise and assignment are free. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. QuantWheel syncs positions and trades from the account and suggests; you place the orders at the broker.
Merrill Edge$0.65 per contract · free exercise · naked
Merrill Edge opens options accounts for residents of the United States only. It charges $0.65 per contract (Cash-settled exercise and assignment charged per contract). Exercise and assignment are free. It approves up to naked short options. It trades on Web, Mobile. It is not connected to QuantWheel.
What each costs for the way you trade
A year of fees from each broker's published prices, checked 7 and 8 October 2026.
- Interactive Brokers$1.45 a trade, 1.4% of your premium
- $157 a year
- Merrill Edge$0.92 a trade, 0.8% of your premium
- $88 to $89 a year
$68 to $69 a year less at Merrill Edge
Not counted because Interactive Brokers does not publish them: options regulatory fee varies by exchange (not published as one amount). Not counted because Merrill Edge does not publish them: clearing fee, options regulatory fee, FINRA trading activity fee, inactivity fee.
Estimates from published fees. Your broker statement can differ, and brokers change fees. A fee a broker does not publish is never counted as $0.
Questions people ask
Interactive Brokers vs Merrill Edge