Updated September 29, 2026 · BrokerCue Editorial Team
eToro vs Merrill Edge
eToro vs Merrill Edge: the differences
| Compare |  eToro |  Merrill Edge |
|---|---|---|
| Markets | Stocks, ETFs, Forex, CFDs, Crypto, Futures | Stocks, ETFs, Options, Bonds, Funds |
| Regulators | Cyprus Securities and Exchange Commission (CySEC), SIPC | FINRA, SEC |
| Investor protection | EU ICS up to EUR 20,000 | SIPC up to USD 500,000 |
| Account types | ISA | IRA, Roth IRA, Joint, Corporate |
| Minimum deposit | Not confirmed | $0 |
| Inactivity fee | Not confirmed | $0 |
| Options contract fee | Not confirmed | $0.65 |
| Platforms | Not confirmed | Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app |
Same on both: Stock trade fee ($0), Account fee ($0).
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Key differences
- Merrill Edge scores higher overall: 9.5 vs 9.2.
- Regulators: only eToro offers Cyprus Securities and Exchange Commission (CySEC), SIPC.
- Regulators: only Merrill Edge offers FINRA, SEC.
- Founded is lower at Merrill Edge: 1914 vs 2007.
- eToro is licensed in 1 more country.
- Markets: only eToro offers Forex, CFDs, Crypto.
- Markets: only Merrill Edge offers Options, Bonds, Funds.
- Account types: only eToro offers ISA.
- Account types: only Merrill Edge offers IRA, Roth IRA, Joint.
- Support channels: only Merrill Edge offers Phone, Chat, Email.
Our verdict on each
eToro
eToro suits readers who want to hold shares, ETFs, crypto, forex and CFDs in one app without paying commission on trades. Costs look light on the standard account, with a stock trade fee of $0 and account fee of $0, though the account fee applies to the virtual portfolio rather than every standard account.
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 | eToro | Merrill Edge |
|---|---|---|
| Cost | 9.3Commission-free pricing with a stock trade fee of $0 and account fee of $0, but currency conversion on non-USD balances sits outside that headline. | 9.3Stock trade fee of $0, account fee of $0 and no inactivity charge at $0, with options at $0.65 per contract. |
| Offer | 8.8 | 9.6Higher |
| Trust | 9.3 | 9.7Higher |
Side by side, item by item
| Markets | eToro | Merrill Edge |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | Yes | No |
| CFDs | Yes | No |
| Options | No | Yes |
| Futures | Yes | No |
| Crypto | Yes | No |
| Bonds | No | Yes |
| Funds | No | Yes |
| Account types | eToro | Merrill Edge |
|---|---|---|
| ISA | Yes | No |
| IRA | No | Yes |
| Roth IRA | No | Yes |
| Joint | No | Yes |
| Corporate | No | Yes |
What it costs in practice
A year: 5,000 invested, 4 US stock trades a month
eToro
$0
48 × $0 + 1 × $0
Merrill Edge
$0
48 × $0 + 1 × $0
Both come to the same total.
Worked out from the stated prices and rates; your own total depends on how you use it. Facts checked September 26, 2026.
How they place
| Ranking | eToro | Merrill Edge |
|---|---|---|
| Stock and ETF brokers | 6 of 490 | 41 of 490 |
| Brokers for beginners | 2 of 88 | 15 of 88 |
| Robo-advisors | 2 of 153 | 13 of 153 |
Every fact side by side
| Fact | eToro | Merrill Edge |
|---|---|---|
| Features | Crypto, Demo account, Fractional shares, Copy trading, Mobile app | Fractional shares, Demo account, Mobile app, Options |
| Pricing model | Commission free | Commission free |
| Audience | Beginners | Beginners, ExperiencedCovers more |
| Legal entity | eToro (Europe) Ltd | Merrill Lynch, Pierce, Fenner and Smith Incorporated |
| Headquarters | Cyprus | United States |
| Founded | 2007 | 1914Lower |
| Support channels | Help centre | Phone, Chat, Help centre, EmailCovers more |
Robo-advisors
| Fact | eToro | Merrill Edge |
|---|---|---|
| Management fee | 0%Lower | 0.45% to 0.85% |
| Minimum investment | $500 | $0 to $1,000Lower |
| Portfolio types | ETF, ESG, Cash, CryptoCovers more | ETF |
Where each stands against the rest
| Fact | eToro | Merrill Edge | Median |
|---|---|---|---|
| Minimum deposit | Not confirmed | $0below the median | $10 |
| Stock trade fee | $0at the median | $0at the median | $0 |
| Account fee | $0at the median | $0at the median | $0 |
| Inactivity fee | Not confirmed | $0at the median | $0 |
| Options contract fee | Not confirmed | $0.65above the median | $0.59 |
Median across 99 listed brokers.
Pros and cons
eToro
Pros
- No commission on share dealing: stock trade fees are $0
- No account fee on the standard dealing account: $0
- Regulated in Cyprus by the Cyprus Securities and Exchange Commission, and a SIPC member in the US
Cons
- A separate management fee of 0% applies to the managed portfolio service, so headline dealing costs are not the whole bill
- Support runs on help centre only, so there is no stated phone or live chat route for account problems
- The same commission-free model at XTB comes with a stated stock trade fee of €0, so commission alone does not separate the two
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
eToro
Who it suits
- Beginners who want commission-free share dealing plus fractional shares
- Readers who want stocks, ETFs, crypto, forex and CFDs in one place
- Anyone saving in a currency other than US dollars who wants to watch the cost of conversion
Who should look elsewhere
- Readers who want a stated phone or live chat support channel, since support runs on help centre
- Day traders who judge a broker on spreads alone, as no spread figure is listed
- Anyone wanting managed portfolios at no cost, since the management fee is 0%
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 | eToro | Merrill Edge |
|---|---|---|
| United States | No | Yes |
Questions about each
eToro
What does it cost to buy shares with eToro?+
The stock trade fee is $0, and the account fee is $0. Both sit at the low end of the market, and eToro is ranked at 1 on trade fees and 1 on account fees among the brands compared here. Currency conversion can still apply if your balance is not in the account currency.
Is there an account fee on the standard eToro account?+
The account fee is $0 for the standard dealing account, which is why eToro places at 1 out of 138 brands on that measure. The managed portfolio service is charged differently, at a management fee of 0%, so treat the dealing and portfolio costs as two separate lines.
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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