IG vs Merrill Edge - BrokerCue
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Broker Comparison

IG vs Merrill Edge

Compare IG and Merrill Edge side by side: fees, regulation, platforms.

IG

IG

Active CFD and forex traders

IG is a CFD-focused broker with forex, shares, ETFs, crypto, options and futures, plus web, Android and third…

VS
Merrill Edge

Merrill Edge

Bank of America customers and long-term investors

Merrill Edge is a Bank of America brokerage offering commission-free stocks, ETFs and options, integrated ban…

Head-to-head comparison

IG vs Merrill Edge
Feature IG Merrill Edge
Minimum deposit - -
Stock trading fee US share CFDs: 2 cents per share, $15 minimum online; UK share CFDs: 0.10%, £10 minimum online; Hong Kong share CFDs: 0.18%, HKD50 minimum online; Euro share CFDs: 0.10%, €10 minimum online $0 per online trade; broker-assisted: $29.95
Regulators FCA, ASIC, BaFin, MAS, FSCA, DFSA, JFSA, CFTC, NFA, BMA FINRA, SEC
Best for Active CFD and forex traders Bank of America customers and long-term investors
Markets & account
Stocks
ETFs
Forex
-
CFDs
-
Crypto
-
Bonds
Options
Futures
-
Margin
Business Account
-
Demo Account
-
Funds
-
Money Market Funds
-
Ready Made Portfolios
-

Pros & cons

IG

IG

Pros

  • No minimum balance for a CFD trading account
  • Free demo account with $20,000 virtual funds
  • Lower minimum deal sizes for the first 6 weeks
  • No commission to close listed options positions
  • Futures positions have no overnight funding fees
  • Extended hours on over 90 key US stocks
  • Weekend trading on selected indices, FX pairs and crypto

Cons

  • 0.8% FX conversion fee on non-base-currency CFD trades
  • 2.3% third-party card processor charge
  • US share CFDs have a $15 minimum online commission
  • UK share CFDs have a £10 minimum online commission
  • Daily overnight funding applies to overnight CFD positions
  • $40/month ProRealTime fee unless conditions are met
  • Monthly fees can apply for exchange stock feeds
  • Demo trades exclude slippage, interest and dividend adjustments
Merrill Edge

Merrill Edge

Pros

  • No commissions on online stock and ETF trades
  • No account minimum and no inactivity fee
  • Integrated with Bank of America banking via single login
  • BofA Rewards program offers banking perks for combined account holders
  • SIPC protection up to $500,000 plus additional Lloyd's of London coverage
  • MarketPro platform for active traders with Level II quotes
  • Extensive research tools and educational resources
  • Merrill Guided Investing robo-advisor available from $1,000

Cons

  • No fractional shares
  • No cryptocurrency trading
  • No futures or forex trading
  • No paper trading or demo account
  • Margin rates are high compared to some competitors
  • Mobile app options trading experience is limited
  • No-transaction-fee mutual fund list is smaller than some competitors
IG

IG

IG is a CFD-focused broker with forex, shares, ETFs, crypto, options and futures, plus web, Android and third-party platforms.

Visit IG Read review

Your capital is at risk. Other fees apply.

Merrill Edge

Merrill Edge

Merrill Edge is a Bank of America brokerage offering commission-free stocks, ETFs and options, integrated banking rewards, and a robo-advisor service.

Visit Merrill Edge Read review

Your capital is at risk. Other fees apply.

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