Updated September 28, 2026 · BrokerCue Editorial Team
AJ Bell vs Merrill Edge
Where AJ Bell and Merrill Edge differ
| Compare |  AJ Bell |  Merrill Edge |
|---|---|---|
| Minimum deposit | £25 | $0 |
| Stock trade fee | £5 | $0 |
| Account fee | £3.50 | $0 |
| Markets | Stocks, ETFs, Bonds, Funds | Stocks, ETFs, Options, Bonds, FundsCovers more |
| Regulators | Financial Conduct Authority (FCA) | FINRA, SEC |
| Investor protection | FSCS up to GBP 85,000 | SIPC up to USD 500,000 |
| Platforms | Web platform, Mobile app | Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app |
| Account types | ISA, SIPP, Lisa, Jisa | IRA, Roth IRA, Joint, Corporate |
| Inactivity fee | Not confirmed | $0 |
| Currency conversion fee | 0.75% | Not confirmed |
| Options contract fee | Not confirmed | $0.65 |
| Deposit and withdrawal fees | Free withdrawals | Not confirmed |
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Key differences
- Merrill Edge scores higher overall: 9.5 vs 8.7.
- Regulators: only AJ Bell offers Financial Conduct Authority (FCA).
- Regulators: only Merrill Edge offers FINRA, SEC.
- Markets: only Merrill Edge offers Options.
- Platforms: only AJ Bell offers Web platform, Mobile app.
- Platforms: only Merrill Edge offers Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app.
- Account types: only AJ Bell offers ISA, SIPP, Lisa.
- Account types: only Merrill Edge offers IRA, Roth IRA, Joint.
- Support channels: only Merrill Edge offers Phone, Email.
- Features: only Merrill Edge offers Fractional shares, Demo account, Options.
Our verdict on each
AJ Bell
AJ Bell pairs a flat £3.50 with FCA regulation and FSCS up to GBP 85,000 of cover, so it suits UK savers who want four wrapper types. Deals in shares cost £5 and currency conversion adds 0.75%, which leaves it short of the cheapest names on our data.
Merrill Edge
Merrill Edge is a US brokerage that suits investors who want commission-free stock and ETF dealing alongside a brokerage account. Stock trade fees of $0 and an account fee of $0 put it in the cheapest band we rate, though options and managed portfolios carry their own charges.
Score breakdown
| Area | AJ Bell | Merrill Edge |
|---|---|---|
| Cost | 8.4A flat annual fee of £3.50 and £5 a dealing sit mid-table, while currency conversion costs 0.75%. | 9.3HigherStock trade fee of $0, account fee of $0 and no inactivity charge at $0, with options at $0.65 per contract. |
| Offer | 9.2 | 9.6Higher |
| Trust | 8.6 | 9.7Higher |
Where each is licensed and available
| Country | AJ Bell | Merrill Edge |
|---|---|---|
| United Kingdom | Not confirmed | |
| United States | Not confirmed |
Additional countries for AJ Bell: 1. Additional countries for Merrill Edge: 1.
Positions in our rankings
| Ranking | AJ Bell | Merrill Edge |
|---|---|---|
| Stock and ETF brokers | 193 of 471 | 50 of 471 |
| Investment platforms and apps | 41 of 86 | 11 of 86 |
What each covers
| Markets | AJ Bell | Merrill Edge |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | No | Yes |
| Bonds | Yes | Yes |
| Funds | Yes | Yes |
| Account types | AJ Bell | Merrill Edge |
|---|---|---|
| ISA | Yes | No |
| SIPP | Yes | No |
| IRA | No | Yes |
| Roth IRA | No | Yes |
| Joint | No | Yes |
| Corporate | No | Yes |
| Lisa | Yes | No |
| Jisa | Yes | No |
Sources behind this comparison
AJ Bell
- ajbell.co.uk: 15 facts, checked September 26, 2026
Merrill Edge
- merrilledge.com: 16 facts, checked September 26, 2026
- en.wikipedia.org: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | AJ Bell | Merrill Edge |
|---|---|---|
| Features | Mobile app | Fractional shares, Demo account, Mobile app, OptionsCovers more |
| Pricing model | Low fees | Commission free |
| Audience | Not confirmed | Beginners, Experienced |
| Legal entity | AJ Bell | Merrill Lynch, Pierce, Fenner and Smith Incorporated |
| Headquarters | United Kingdom | United States |
| Founded | Not confirmed | 1914 |
| Support channels | Chat, Help centre | Phone, Chat, Help centre, EmailCovers more |
Robo-advisors
| Fact | AJ Bell | Merrill Edge |
|---|---|---|
| Management fee | Not confirmed | 0.45% to 0.85% |
| Minimum investment | Not confirmed | $0 to $1,000 |
| Portfolio types | Not confirmed | ETF |
Where each stands against the rest
| Fact | AJ Bell | Merrill Edge | Median |
|---|---|---|---|
| Inactivity fee | Not confirmed | $0at the median | $0 |
| Currency conversion fee | 0.75%highest quarter | Not confirmed | 0.45% |
| Options contract fee | Not confirmed | $0.65above the median | $0.625 |
Median across 38 listed brokers.
Pros and cons
AJ Bell
Pros
- Four account types in one place: isa, sipp and lisa.
- Regulated by the Financial Conduct Authority (FCA), with FSCS up to GBP 85,000 of cover on eligible money.
- A flat £3.50 annual charge against a market median of €0.
Cons
- Dealing shares costs £5, where eToro charges $0.
- The account fee places AJ Bell 111 of 138 brands on our data.
- Support runs on chat and help centre only, with no phone line listed.
Merrill Edge
Pros
- Stock trades cost $0 and the account fee is $0, so the everyday cost of holding a brokerage account is minimal
- No inactivity charge at $0, unlike several rivals that bill dormant accounts
- Minimum deposit of $0 means an account can be opened and funded without a large starting balance
Cons
- Options cost $0.65 per contract, so the free stock dealing does not extend to derivatives
- Managed portfolios charge 0.45% to 0.85% in advisory fees, where commission-free dealing applies only to self-directed trading
- Account types are limited to retirement and joint and corporate forms, so it does not cover the wider account range some rivals offer
Who each suits
AJ Bell
Who it suits
- You want an FCA-regulated broker with FSCS up to GBP 85,000 behind the account and do not need the lowest dealing cost.
- Your saving changes shape over time and you want ISA, SIPP, LISA and Junior ISA under one roof, since isa, sipp and lisa all sit here.
- You are a regular UK investor who prefers a flat £3.50 to a percentage-based platform charge.
Who should look elsewhere
- You trade very often, because eToro charges $0 on stock deals against £5 here.
- You are starting with almost nothing, since Vantage takes $5 and CFI takes $0 against the £25 asked for here.
- You want phone support, as AJ Bell lists chat and help centre and nothing wider.
Merrill Edge
Who it suits
- US investors who want commission-free stocks and ETFs plus a retirement account in one place
- Long term holders who would rather avoid an inactivity charge of $0 and the account fees some rivals levy
- Beginners and experienced traders who appreciate support across phone, chat and help centre
Who should look elsewhere
- Investors who want forex or crypto, as the market list holds stocks, etfs and options
- Anyone looking for a fully managed portfolio without paying advisory fees of 0.45% to 0.85%
- Readers who want the wider market spread offered by CFI or eToro, where the asset mix runs wider than stocks, etfs and options
Current offers
Merrill Edge
Current offer
First period offer
$0 program fee for 6 months - Merrill Guided Investing: $0 for 6 months
New enrollments, use offer code 6FREE
Source, checked September 26, 2026
Country by country
| Country | AJ Bell | Merrill Edge |
|---|---|---|
| United Kingdom | Yes | No |
| United States | No | Yes |
Questions about each
AJ Bell
What does AJ Bell charge to hold an account?+
The account fee is a flat £3.50 a year. That sits above the market median of €0 and well below the €219.24 at the expensive end of our data, so it is a mid-range holding cost rather than a free account.
How much does it cost to buy shares?+
A dealing in shares costs £5. The market median is €0 and the highest figure on our data is €17.54, so frequent dealing adds up quickly and investors who trade rarely feel it least.
Merrill Edge
What does it cost to trade stocks at Merrill Edge?+
Online stock dealing is priced at a stock trade fee of $0, with an account fee of $0 on the brokerage account. The inactivity fee is $0, so a dormant account is not billed. Options trades are charged separately at $0.65 per contract.
Which regulator supervises Merrill Edge?+
Merrill Edge is supervised in the US, and the regulators recorded for it are FINRA and SEC. The legal entity behind the brand is Merrill Lynch, Pierce, Fenner and Smith Incorporated. Securities held in the account fall under the investor protection arrangement stated as SIPC up to USD 500,000.
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