Updated September 29, 2026 · BrokerCue Editorial Team
Kraken vs Merrill Edge
Where Kraken and Merrill Edge differ
| Compare |  Kraken |  Merrill Edge |
|---|---|---|
| Minimum deposit | $1 | $0Lower |
| Markets | Stocks, ETFs, Forex, Crypto, Futures | Stocks, ETFs, Options, Bonds, Funds |
| Regulators | Central Bank of Ireland, Cyprus Securities and Exchange Commission, Financial Conduct Authority, Financial Crimes Enforcement Network, Central Bank of Ireland (CBI) | FINRA, SEC |
| Investor protection | EU ICS up to EUR 20,000 | SIPC up to USD 500,000 |
| Platforms | Kraken App, Kraken Pro, Kraken Desktop, Kraken Wallet | Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app |
| Account fee | Not confirmed | $0 |
| Inactivity fee | Not confirmed | $0 |
| Options contract fee | Not confirmed | $0.65 |
| Deposit and withdrawal fees | Free bank deposits, card 3.75% + 0.25 | Not confirmed |
| Account types | Not confirmed | IRA, Roth IRA, Joint, Corporate |
| Maximum retail leverage | Up to 10x | Not confirmed |
Same on both: Stock trade fee ($0).
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Key differences
- Merrill Edge scores higher overall: 9.5 vs 9.2.
- Regulators: only Kraken offers Central Bank of Ireland, Cyprus Securities and Exchange Commission, Financial Conduct Authority.
- Regulators: only Merrill Edge offers FINRA, SEC.
- Kraken is licensed in 1 more country.
- Minimum deposit is lower at Merrill Edge: $0 vs $1.
- Markets: only Kraken offers Forex, Crypto, Futures.
- Markets: only Merrill Edge offers Options, Bonds, Funds.
- Platforms: only Kraken offers Kraken App, Kraken Pro, Kraken Desktop.
- Platforms: only Merrill Edge offers Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app.
- Features: only Kraken offers Crypto.
Our verdict on each
Kraken
Kraken suits beginners and experienced investors who want stocks, ETFs and crypto together through app and desktop access. Stock dealing is priced at $0 with entry at $1 and funding terms shown as Free bank deposits, card 3.75% + 0.25 for cost planning across small balance accounts.
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 | Kraken | Merrill Edge |
|---|---|---|
| Cost | 9.3Stock dealing is priced at $0 with entry at $1. | 9.3Stock trade fee of $0, account fee of $0 and no inactivity charge at $0, with options at $0.65 per contract. |
| Offer | 9.0Coverage spans stocks, ETFs and forex accessed through Kraken App, Kraken Pro and Kraken Desktop. | 9.6Higher |
| Trust | 9.3Registers cite 1010381 and 31000270997766. | 9.7Higher |
Where they rank in our lists
| Ranking | Kraken | Merrill Edge |
|---|---|---|
| Stock and ETF brokers | 28 of 490 | 41 of 490 |
| Brokers for beginners | 10 of 88 | 15 of 88 |
What we checked
Kraken
- kraken.com: 9 facts, checked September 28, 2026
- support.kraken.com: 2 facts, checked September 28, 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 | Kraken | Merrill Edge |
|---|---|---|
| Features | Crypto, Mobile app | Fractional shares, Demo account, Mobile app, Options |
| Pricing model | Commission free | Commission free |
| Audience | Beginners, Experienced | Beginners, Experienced |
| Legal entity | Not confirmed | Merrill Lynch, Pierce, Fenner and Smith Incorporated |
| Headquarters | Not confirmed | United States |
| Founded | Not confirmed | 1914 |
| Support channels | Not confirmed | Phone, Chat, Help centre, Email |
Robo-advisors
| Fact | Kraken | 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 | Kraken | Merrill Edge | Median |
|---|---|---|---|
| Minimum deposit | $1below the median | $0below the median | $10 |
| Stock trade fee | $0at the median | $0at the median | $0 |
| Account fee | Not confirmed | $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
Kraken
Pros
- Stock trades priced at $0 within a model shown as commission free.
- Entry at $1, below $50 at eToro for smaller starting balances.
- Coverage spans stocks, ETFs and forex, pairing stocks and ETFs with crypto and futures.
Cons
- Support runs on help centre only, without phone or live chat help found at many rivals.
- Card funding terms run Free bank deposits, card 3.75% + 0.25, which adds cost next to bank transfer options.
- Entry at $1 sits above $0 at ActivTrades and €0 at XTB for tight budgets.
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
Kraken
Who it suits
- You want stocks plus crypto in stocks, ETFs and forex in a single login rather than an equity only account at XTB.
- You want app led dealing through Kraken App, Kraken Pro and Kraken Desktop with modest entry at $1 rather than higher entry at eToro at $50.
Who should look elsewhere
- You want phone or chat help rather than help centre only, consider XTB or ActivTrades for wider contact choice.
- You want the lowest cash entry rather than $1, consider ActivTrades at $0 or XTB at €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 | Kraken | Merrill Edge |
|---|---|---|
| United States | No | Yes |
Questions about each
Kraken
What does Kraken charge for stock trades+
Stock dealing is priced at $0 and Kraken describes its model as commission free. Bank funding is framed separately as Free bank deposits, card 3.75% + 0.25, so card use adds cost while bank transfer terms remain distinct. Check the fee schedule before placing orders.
What is the minimum deposit to open an account+
Account entry is set at $1. That level sits below $50 at eToro, yet above $0 at ActivTrades and €0 at XTB. It keeps starting balances modest while leaving room for funding charges.
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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