Updated September 29, 2026 · BrokerCue Editorial Team
Lightyear vs Merrill Edge
Where Lightyear and Merrill Edge differ
| Compare |  Lightyear |  Merrill Edge |
|---|---|---|
| Stock trade fee | $1 | $0Lower |
| Account fee | €0 | $0 |
| Inactivity fee | €0 | $0 |
| Markets | Stocks, ETFs, Crypto, Bonds, Funds | Stocks, ETFs, Options, Bonds, Funds |
| Regulators | Estonian Financial Supervision Authority, Estonian Financial Supervision Authority (EFSA) | FINRA, SEC |
| Investor protection | EU ICS up to EUR 20,000 | SIPC up to USD 500,000 |
| Account types | Corporate | IRA, Roth IRA, Joint, CorporateCovers more |
| Minimum deposit | Not confirmed | $0 |
| Currency conversion fee | 0.35% | Not confirmed |
| Options contract fee | Not confirmed | $0.65 |
| Deposit and withdrawal fees | Free bank transfers in and out | Not confirmed |
| Platforms | Not confirmed | Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app |
| Interest on cash | 2.42% | Not confirmed |
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Key differences
- Merrill Edge scores higher overall: 9.5 vs 8.9.
- Regulators: only Lightyear offers Estonian Financial Supervision Authority, Estonian Financial Supervision Authority (EFSA).
- Regulators: only Merrill Edge offers FINRA, SEC.
- Stock trade fee is lower at Merrill Edge: $0 vs $1.
- Markets: only Lightyear offers Crypto.
- Markets: only Merrill Edge offers Options.
- Account types: only Merrill Edge offers IRA, Roth IRA, Joint.
- Features: only Lightyear offers Crypto.
- Features: only Merrill Edge offers Demo account, Mobile app, Options.
- Pricing model: only Lightyear offers Low fees.
Our verdict on each
Lightyear
Lightyear suits you if you want stocks, ETFs, bonds, funds and crypto in a place with clear upkeep costs and email based help. Your stock trades cost $1, account upkeep sits at €0 and inactivity stays at €0 while cover reaches EU ICS up to EUR 20,000.
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 | Lightyear | Merrill Edge |
|---|---|---|
| Cost | 9.1Upkeep at €0 and inactivity at €0 with trades at $1 | 9.3HigherStock trade fee of $0, account fee of $0 and no inactivity charge at $0, with options at $0.65 per contract. |
| Offer | 8.8Covers stocks, ETFs and crypto with fractional shares and crypto access for varied plans | 9.6Higher |
| Trust | 8.7Cover through EU ICS up to EUR 20,000 alongside Estonian supervision for reassurance | 9.7Higher |
What each covers
| Markets | Lightyear | Merrill Edge |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | No | Yes |
| Crypto | Yes | No |
| Bonds | Yes | Yes |
| Funds | Yes | Yes |
| Account types | Lightyear | Merrill Edge |
|---|---|---|
| IRA | No | Yes |
| Roth IRA | No | Yes |
| Joint | No | Yes |
| Corporate | Yes | Yes |
Where each is licensed and available
| Country | Lightyear | Merrill Edge |
|---|---|---|
| Estonia | Estonian Financial Supervision Authority (EFSA) MiCA CASP 254900BBBJZF2IE8EN54 | Not confirmed |
| United States | Not confirmed |
How they place
| Ranking | Lightyear | Merrill Edge |
|---|---|---|
| Stock and ETF brokers | 29 of 490 | 41 of 490 |
| Robo-advisors | 6 of 153 | 13 of 153 |
Every fact side by side
| Fact | Lightyear | Merrill Edge |
|---|---|---|
| Features | Crypto, Fractional shares | Fractional shares, Demo account, Mobile app, Options |
| Pricing model | Low fees | Commission free |
| Audience | Not confirmed | 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 | Lightyear | Merrill Edge |
|---|---|---|
| Management fee | Not confirmed | 0.45% to 0.85% |
| Minimum investment | €1 | $0 to $1,000 |
| Portfolio types | ETF, Cash, CryptoCovers more | ETF |
Where each stands against the rest
| Fact | Lightyear | Merrill Edge | Median |
|---|---|---|---|
| Minimum deposit | Not confirmed | $0below the median | $10 |
| Stock trade fee | $1highest quarter | $0at the median | $0 |
| Currency conversion fee | 0.35%below the median | Not confirmed | 0.4% |
| Options contract fee | Not confirmed | $0.65above the median | $0.59 |
| Interest on cash | 2.42%below the median | Not confirmed | 3% |
Median across 99 listed brokers.
Pros and cons
Lightyear
Pros
- Account upkeep at €0 and inactivity at €0 keep quiet months calm
- You can hold stocks, ETFs and crypto with fractional shares available for smaller positions
- You can begin from €1, below many peers, with cash interest at 2.42%
Cons
- Stock trades at $1 look pricey beside ActivTrades at $0 for frequent equity orders
- Currency conversion at 0.35% adds cost when you trade outside your base currency
- Support runs on email and help centre only, so you use email and help centre without phone or chat
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
Lightyear
Who it suits
- You want upkeep at €0 and inactivity at €0 and prefer XTB only if ticket fees matter more
- You seek stocks, ETFs and crypto from modest sums starting at €1 rather than eToro style ranged pricing
Who should look elsewhere
- You trade stocks very often and want ticket fees of $0 from ActivTrades rather than fees of $1
- You want phone or chat help rather than help on email and help centre, so XTB may suit you better
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 | Lightyear | Merrill Edge |
|---|---|---|
| United States | No | Yes |
Questions about each
Lightyear
What will I pay to trade stocks and keep the account open?+
Stock orders carry fees of $1. Account upkeep sits at €0 and inactivity stays at €0. Currency conversion applies at 0.35% when your trade currency differs from your account currency.
Who regulates Lightyear and where can I check it?+
Lightyear names Estonian Financial Supervision Authority and Estonian Financial Supervision Authority (EFSA) as its supervisors. Oversight sits in Estonia under MiCA CASP 254900BBBJZF2IE8EN54. You can check the licence details on the relevant public register before you fund an account.
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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