Updated October 17, 2026 · BrokerCue Editorial Team
Merrill Edge vs Pepperstone
What sets them apart
| Compare |  Merrill Edge |  Pepperstone |
|---|---|---|
| Minimum deposit | $0Lower | $10 |
| Stock trade fee | $0Lower | $0.020 |
| Markets | Stocks, ETFs, Options, Bonds, Funds | Stocks, ETFs, Forex, CFDs, Crypto, Metals |
| Platforms | Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app | TradingView, MetaTrader 4, MetaTrader 5, CTrader, Pepperstone platform |
| Account fee | $0 | Not confirmed |
| Inactivity fee | $0 | Not confirmed |
| Regulators | FINRA, SEC | Not confirmed |
| Investor protection | SIPC up to USD 500,000 | Not confirmed |
| Retail accounts that lose money | Not confirmed | 74.1% |
| Options contract fee | $0.65 | Not confirmed |
| Account types | IRA, Roth IRA, Joint, Corporate | Not confirmed |
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Key differences
- Merrill Edge scores higher overall: 9.5 vs 9.2.
- Minimum deposit is lower at Merrill Edge: $0 vs $10.
- Stock trade fee is lower at Merrill Edge: $0 vs $0.020.
- Markets: only Merrill Edge offers Options, Bonds, Funds.
- Markets: only Pepperstone offers Forex, CFDs, Crypto.
- Platforms: only Merrill Edge offers Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app.
- Platforms: only Pepperstone offers TradingView, MetaTrader 4, MetaTrader 5.
- Support channels: only Merrill Edge offers Phone, Chat.
Our verdict on each
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.
Pepperstone
Pepperstone is a CFD broker with several platforms and a demo account. It suits active traders, though leveraged CFDs carry a high risk of quick losses.
Score breakdown
| Area | Merrill Edge | Pepperstone |
|---|---|---|
| Cost | 9.3HigherStock trade fee of $0, account fee of $0 and no inactivity charge at $0, with options at $0.65 per contract. | 8.9 |
| Offer | 9.6Higher | 9.5 |
| Trust | 9.7 | Not confirmed |
What each covers
| Markets | Merrill Edge | Pepperstone |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | Yes |
| CFDs | No | Yes |
| Options | Yes | No |
| Crypto | No | Yes |
| Bonds | Yes | No |
| Funds | Yes | No |
| Metals | No | Yes |
How they place
| Ranking | Merrill Edge | Pepperstone |
|---|---|---|
| Stock and ETF brokers | 50 of 471 | 22 of 471 |
Licences and countries
| Country | Merrill Edge | Pepperstone |
|---|---|---|
| United States | Not confirmed |
Where these facts come from
Merrill Edge
- merrilledge.com: 16 facts, checked September 26, 2026
- en.wikipedia.org: 1 fact, checked September 26, 2026
Pepperstone
- pepperstone.com: 6 facts, checked October 17, 2026
Every fact side by side
| Fact | Merrill Edge | Pepperstone |
|---|---|---|
| Features | Fractional shares, Demo account, Mobile app, Options | Not confirmed |
| Pricing model | Commission free | Not confirmed |
| Audience | Beginners, Experienced | Not confirmed |
| Legal entity | Merrill Lynch, Pierce, Fenner and Smith Incorporated | Not confirmed |
| Headquarters | United States | Not confirmed |
| Founded | 1914 | Not confirmed |
| Support channels | Phone, Chat, Help centre, EmailCovers more | Email, Help centre |
Robo-advisors
| Fact | Merrill Edge | Pepperstone |
|---|---|---|
| Management fee | 0.45% to 0.85% | Not confirmed |
| Minimum investment | $0 to $1,000 | Not confirmed |
| Portfolio types | ETF | Not confirmed |
Where each stands against the rest
| Fact | Merrill Edge | Pepperstone | Median |
|---|---|---|---|
| Minimum deposit | $0below the median | $10below the median | $25 |
| Stock trade fee | $0at the median | $0.020above the median | $0 |
| Account fee | $0at the median | Not confirmed | $0 |
| Inactivity fee | $0at the median | Not confirmed | $0 |
| Retail accounts that lose money | Not confirmed | 74.1%above the median | 72.21% |
| Options contract fee | $0.65above the median | Not confirmed | $0.625 |
Median across 136 listed brokers.
Pros and cons
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
Pepperstone
Pros
- Several platforms, including MetaTrader, cTrader and TradingView.
- Two pricing styles, one all in and one commission based.
- A demo account with virtual funds before going live.
Cons
- Leverage can cause fast losses, and a high share of retail accounts lose money.
- Overnight positions can pay or earn interest, with larger midweek rollovers.
- Withdrawals must go to an account or card in your own name.
Who each suits
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
Pepperstone
Who it suits
- Traders who want a choice of MetaTrader, cTrader and TradingView.
- Frequent FX, gold or index CFD traders.
Who should look elsewhere
- Anyone who cannot accept fast losses from leverage.
- Long term investors who want to own shares outright.
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 | Merrill Edge | Pepperstone |
|---|---|---|
| United States | Yes | No |
Questions about each
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.
Pepperstone
Does Pepperstone charge fees on deposits or withdrawals?+
The company charges no internal funding or withdrawal fees, though your bank or payment provider may apply its own charges. Deposits can be made by debit or credit card, digital wallet, or domestic and international bank transfer. Withdrawals must go to an account or card in the same name.
Can I practise on a demo account first?+
Yes. A demo account uses virtual funds in a live market environment and runs on the same platforms as live accounts. You can test strategies, try order types and explore charts and indicators without risking capital. Demo accounts cannot be reactivated once closed, so keep notes on what you tested.
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