Updated September 28, 2026 · BrokerCue Editorial Team
Merrill Edge vs Wealthsimple
What sets them apart
| Compare |  Merrill Edge |  Wealthsimple |
|---|---|---|
| Minimum deposit | $0 | CA$0 |
| Stock trade fee | $0 | CA$0 |
| Account fee | $0 | CA$0 |
| Markets | Stocks, ETFs, Options, Bonds, Funds | Stocks, ETFs, Options, Crypto, Futures |
| Options contract fee | $0.65 | CA$0 |
| Account types | IRA, Roth IRA, Joint, CorporateCovers more | Joint, Corporate |
| Inactivity fee | $0 | Not confirmed |
| Regulators | FINRA, SEC | Not confirmed |
| Investor protection | SIPC up to USD 500,000 | Not confirmed |
| Margin rate | Not confirmed | 3.95% |
| Platforms | Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app | Not confirmed |
| Interest on cash | Not confirmed | 1.25% |
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Key differences
- Merrill Edge scores higher overall: 9.5 vs 9.4.
- Markets: only Merrill Edge offers Bonds, Funds.
- Markets: only Wealthsimple offers Crypto, Futures.
- Account types: only Merrill Edge offers IRA, Roth IRA.
- Features: only Merrill Edge offers Demo account, Options.
- Features: only Wealthsimple offers Crypto.
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.
Wealthsimple
Wealthsimple serves Canadian beginners and experienced investors who want self-directed trading and managed portfolios in a single app. The minimum deposit is CAD 0, the stock trade fee is CAD 0 and the account fee is CAD 0, while the UK is not among its markets (stocks, etfs and options).
Score breakdown
| Area | Merrill Edge | Wealthsimple |
|---|---|---|
| Cost | 9.3Stock trade fee of $0, account fee of $0 and no inactivity charge at $0, with options at $0.65 per contract. | 9.6HigherMinimum deposit of CAD 0, stock trade fee of CAD 0, options contract fee of CAD 0 and account fee of CAD 0. |
| Offer | 9.6Higher | 9.2Managed portfolios charge 0.5% and start at CAD 1, with cash earning 1.25%. |
| Trust | 9.7 | Not confirmed |
Pick Merrill Edge if, pick Wealthsimple if
Pick Merrill Edge if offer and account types matter most.
Pick Wealthsimple if cost matter most.
Where each is licensed and available
| Country | Merrill Edge | Wealthsimple |
|---|---|---|
| United States | Not confirmed |
What each covers
| Markets | Merrill Edge | Wealthsimple |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | Yes | Yes |
| Futures | No | Yes |
| Crypto | No | Yes |
| Bonds | Yes | No |
| Funds | Yes | No |
| Account types | Merrill Edge | Wealthsimple |
|---|---|---|
| IRA | Yes | No |
| Roth IRA | Yes | No |
| Joint | Yes | Yes |
| Corporate | Yes | Yes |
How they place
| Ranking | Merrill Edge | Wealthsimple |
|---|---|---|
| Stock and ETF brokers | 41 of 490 | 53 of 490 |
| Options trading platforms | 12 of 103 | 17 of 103 |
| Brokers for beginners | 15 of 88 | 21 of 88 |
| Robo-advisors | 13 of 153 | 15 of 153 |
Every fact side by side
| Fact | Merrill Edge | Wealthsimple |
|---|---|---|
| Features | Fractional shares, Demo account, Mobile app, Options | Crypto, Fractional shares, Mobile app |
| Pricing model | Commission free | Commission free |
| Audience | Beginners, Experienced | Beginners, Experienced |
| Legal entity | Merrill Lynch, Pierce, Fenner and Smith Incorporated | Wealthsimple Technologies Inc. |
| Headquarters | United States | Canada |
| Founded | 1914 | Not confirmed |
| Support channels | Phone, Chat, Help centre, Email | Chat, Email, Phone, Help centre |
Robo-advisors
| Fact | Merrill Edge | Wealthsimple |
|---|---|---|
| Management fee | 0.45% to 0.85%Lower | 0.5% |
| Minimum investment | $0 to $1,000 | CA$1 |
| Portfolio types | ETF | ETF, Cash, CryptoCovers more |
Where each stands against the rest
| Fact | Merrill Edge | Wealthsimple | Median |
|---|---|---|---|
| Inactivity fee | $0at the median | Not confirmed | $0 |
| Margin rate | Not confirmed | 3.95%lowest quarter | 8.79% |
| Interest on cash | Not confirmed | 1.25%lowest quarter | 3% |
Median across 36 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
Wealthsimple
Pros
- Stock trade fee of CAD 0 on a commission-free model across self-directed accounts
- Minimum deposit of CAD 0, so an account opens with a small sum
- Managed portfolios charge a management fee of 0.5% and start at CAD 1
Cons
- The UK and Europe are not among its markets (stocks, etfs and options), so a reader there would need a different broker
- Managed portfolios carry a management fee of 0.5% on top of CAD 0 self-directed trades
- Margin is available at a margin rate of 3.95%, which amplifies losses on a levered position
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
Wealthsimple
Who it suits
- Canadian beginners putting money away in a managed portfolio
- Canadian investors buying fractional shares in a mobile app
- Experienced traders wanting stocks, ETFs, options, crypto and futures in a single account
Who should look elsewhere
- UK or EU readers, who should look at CFI, eToro or Vantage instead
- Traders who want a forex and CFD range, since stocks, etfs and options omits both
- Anyone seeking an ISA, SIPP or similar tax-sheltered wrapper, since neither is among its account types (joint and corporate)
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 | Wealthsimple |
|---|---|---|
| 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.
Wealthsimple
What does it cost to trade stocks at Wealthsimple?+
The stock trade fee is CAD 0 and the account fee is CAD 0. Options contracts carry a fee of CAD 0. Cash earns interest of 1.25%. Managed portfolios are the part that still charges, at a management fee of 0.5%.
Is there a minimum deposit or account fee?+
The minimum deposit is CAD 0 and the account fee is CAD 0, so opening an account costs nothing. Managed portfolios ask for a minimum investment of CAD 1. Brands across the site typically ask €4.64 to start.
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