Updated September 28, 2026 · BrokerCue Editorial Team
Fennel vs Merrill Edge
Where Fennel and Merrill Edge differ
| Compare |  Fennel |  Merrill Edge |
|---|---|---|
| Account fee | $4.99 | $0Lower |
| Markets | Stocks, ETFs | Stocks, ETFs, Options, Bonds, FundsCovers more |
| Regulators | FINRA, SIPC | FINRA, SEC |
| Platforms | Mobile app, Web | Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app |
| Account types | IRA | IRA, Roth IRA, Joint, CorporateCovers more |
| Inactivity fee | Not confirmed | $0 |
| Options contract fee | Not confirmed | $0.65 |
Same on both: Minimum deposit ($0), Stock trade fee ($0), Investor protection (SIPC up to USD 500,000).
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Key differences
- Merrill Edge scores higher overall: 9.5 vs 9.2.
- Regulators: only Fennel offers SIPC.
- Regulators: only Merrill Edge offers SEC.
- Account fee is lower at Merrill Edge: $0 vs $4.99.
- Markets: only Merrill Edge offers Options, Bonds, Funds.
- Platforms: only Fennel offers Mobile app, Web.
- Platforms: only Merrill Edge offers Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app.
- Account types: only Merrill Edge offers Roth IRA, Joint, Corporate.
- Support channels: only Merrill Edge offers Chat.
- Features: only Merrill Edge offers Fractional shares, Demo account, Options.
Our verdict on each
Fennel
Fennel is a US retirement app built around an IRA, with stock trades at $0. It suits US investors saving for retirement from a phone, and not UK or European readers who want local markets or a cash savings option.
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 | Fennel | Merrill Edge |
|---|---|---|
| Cost | 9.1Commission-free commission free trading and a $0 minimum deposit, against an account fee of $4.99 that is above the site median of €0. | 9.3HigherStock 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 | 9.5 | 9.7Higher |
Licences and countries
| Country | Fennel | Merrill Edge |
|---|---|---|
| United States | SIPC SIPC member 70779 |
Available in 1 country for both.
Where they rank in our lists
| Ranking | Fennel | Merrill Edge |
|---|---|---|
| Stock and ETF brokers | 88 of 490 | 41 of 490 |
| Investment platforms and apps | 19 of 85 | 10 of 85 |
| IRA providers | 14 of 43 | 8 of 43 |
What we checked
Fennel
- fennel.com: 8 facts, checked September 26, 2026
- finder.com: 3 facts, checked September 26, 2026
- play.google.com: 1 fact, checked September 26, 2026
- sipc.org: 1 fact, 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 | Fennel | Merrill Edge |
|---|---|---|
| Features | Mobile app | Fractional shares, Demo account, Mobile app, OptionsCovers more |
| Pricing model | Commission free | Commission free |
| Audience | Not confirmed | Beginners, Experienced |
| Legal entity | FENNEL FINANCIALS LLC | Merrill Lynch, Pierce, Fenner and Smith Incorporated |
| Headquarters | United States | United States |
| Founded | Not confirmed | 1914 |
| Support channels | Email, Phone, Help centre | Phone, Chat, Help centre, EmailCovers more |
Robo-advisors
| Fact | Fennel | 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 | Fennel | Merrill Edge | Median |
|---|---|---|---|
| Minimum deposit | $0below the median | $0below the median | $10 |
| Stock trade fee | $0at the median | $0at the median | $0 |
| Account fee | $4.99above 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
Fennel
Pros
- Stock trades cost $0, so entry costs sit at the floor of the market.
- A minimum deposit of $0 lets an account start from a small sum.
- Regulators listed are FINRA and SIPC, with investor protection at SIPC up to USD 500,000.
Cons
- The account types listed are ira, so there is no taxable brokerage account on offer.
- Markets stop at stocks and etfs, where CFI lists stocks, etfs and forex.
- There is no live chat, since support runs on email, phone and help centre.
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
Fennel
Who it suits
- US investors opening or holding an IRA, since the account types are ira.
- Investors trading shares and exchange traded funds from a phone, since the platforms are mobile app and web.
- Readers starting with a small amount, since the minimum deposit is $0.
Who should look elsewhere
- Not for CFI users who want forex, contracts for difference or crypto, since CFI lists stocks, etfs and forex.
- Not for readers who would rather hold no account fee, as the eToro account fee is $0 against Fennel's $4.99.
- Not for Vantage users who want a stated starting level, since Vantage asks for $5 and Fennel asks for $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 | Fennel | Merrill Edge |
|---|---|---|
| United States | Yes | Yes |
Questions about each
Fennel
What does Fennel charge for trading and holding?+
Stock trades cost $0 and the pricing model is commission free. The account fee is $4.99, above the site median of €0, and the minimum deposit is $0. Trading costs therefore sit at the floor of the market while the account charge is higher than most brands listed here.
Is my money protected at Fennel?+
Regulators listed for Fennel are FINRA and SIPC, and the membership record shows SIPC member 70779. Investor protection is stated as SIPC up to USD 500,000. The legal entity behind the brand is FENNEL FINANCIALS LLC, and the headquarters country is the US.
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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