Updated September 28, 2026 · BrokerCue Editorial Team
Merrill Edge vs Webull
Merrill Edge vs Webull: the differences
| Compare |  Merrill Edge |  Webull |
|---|---|---|
| Markets | Stocks, ETFs, Options, Bonds, Funds | Stocks, ETFs, Options, Futures, Crypto, Bonds, FundsCovers more |
| Regulators | FINRA, SEC | FINRA, SEC, SIPCCovers more |
| Options contract fee | $0.65 | $0Lower |
| Platforms | Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app | Desktop, Mobile, Web |
| Account types | IRA, Roth IRA, Joint, CorporateCovers more | IRA |
| Minimum deposit | $0 | Not confirmed |
| Account fee | $0 | Not confirmed |
| Inactivity fee | $0 | Not confirmed |
| Deposit and withdrawal fees | Not confirmed | $0 incoming stock transfer |
Same on both: Stock trade fee ($0), Investor protection (SIPC up to USD 500,000).
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Key differences
- Webull scores higher overall: 9.6 vs 9.5.
- Regulators: only Webull offers SIPC.
- Options contract fee is lower at Webull: $0 vs $0.65.
- Markets: only Webull offers Futures, Crypto.
- Platforms: only Merrill Edge offers Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app.
- Platforms: only Webull offers Desktop, Mobile, Web.
- Account types: only Merrill Edge offers Roth IRA, Joint, Corporate.
- Support channels: only Merrill Edge offers Chat.
- Features: only Webull offers Crypto, Futures.
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.
Webull
Webull suits US retail investors who want a single app for stocks, options, futures, crypto and retirement saving, and the fee line is the draw: a stock trade costs $0. Investor protection is SIPC up to USD 500,000, though the account range is narrow.
Score breakdown
| Area | Merrill Edge | Webull |
|---|---|---|
| Cost | 9.3Stock trade fee of $0, account fee of $0 and no inactivity charge at $0, with options at $0.65 per contract. | 9.7Higher |
| Offer | 9.6Higher | 9.3 |
| Trust | 9.7 | 9.8Higher |
Where they rank in our lists
| Ranking | Merrill Edge | Webull |
|---|---|---|
| Stock and ETF brokers | 41 of 490 | 36 of 490 |
| Investment platforms and apps | 10 of 85 | 7 of 85 |
| Options trading platforms | 12 of 103 | 8 of 103 |
| IRA providers | 8 of 43 | 5 of 43 |
Feature by feature
| Markets | Merrill Edge | Webull |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | Yes | Yes |
| Futures | No | Yes |
| Crypto | No | Yes |
| Bonds | Yes | Yes |
| Funds | Yes | Yes |
| Account types | Merrill Edge | Webull |
|---|---|---|
| IRA | Yes | Yes |
| Roth IRA | Yes | No |
| Joint | Yes | No |
| Corporate | Yes | No |
Licences and countries
| Country | Merrill Edge | Webull |
|---|---|---|
| United States | SIPC SIPC member 71394 |
Available in 1 country for both.
Pick Merrill Edge if, pick Webull if
Pick Merrill Edge if offer and account types matter most.
Pick Webull if cost, markets, regulators, and options contract fee matter most.
Every fact side by side
| Fact | Merrill Edge | Webull |
|---|---|---|
| Features | Fractional shares, Demo account, Mobile app, Options | Crypto, Demo account, Fractional shares, Options, Futures, Mobile appCovers more |
| Pricing model | Commission free | Commission free |
| Audience | Beginners, Experienced | Not confirmed |
| Legal entity | Merrill Lynch, Pierce, Fenner and Smith Incorporated | WEBULL FINANCIAL LLC |
| Headquarters | United States | Not confirmed |
| Founded | 1914 | Not confirmed |
| Support channels | Phone, Chat, Help centre, EmailCovers more | Email, Phone, Help centre |
Robo-advisors
| Fact | Merrill Edge | Webull |
|---|---|---|
| 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 | Webull | Median |
|---|---|---|---|
| Minimum deposit | $0below the median | Not confirmed | $10 |
| Stock trade fee | $0at the median | $0at the median | $0 |
| Account fee | $0at the median | Not confirmed | $0 |
| Inactivity fee | $0at the median | Not confirmed | $0 |
| Options contract fee | $0.65above the median | $0lowest quarter | $0.59 |
Median across 99 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
Webull
Pros
- A stock trade costs $0 and an options contract $0 on the ira account.
- Investor protection is SIPC up to USD 500,000, with registration under FINRA, SEC and SIPC.
- A single app covers stocks, etfs and options, so shares, bonds, funds, options, futures and crypto sit together.
Cons
- Support runs on email, phone and help centre, with no live chat listed.
- Account choice is narrow, with ira the only type listed.
- Across the brokers compared, the middle retail loss share is 70.15% and the top of the range 88%.
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
Webull
Who it suits
- US retail investors who want stocks, options, futures and crypto under a single login
- Beginners using the demo account in crypto, demo account and fractional shares before committing money
- Retirement savers who want $0 stock trades in the same app
Who should look elsewhere
- eToro, if you want forex and CFDs, since stocks, etfs and forex include them
- CFI, if your focus is forex and CFDs rather than stocks, etfs and options
- Vantage, if you trade metals and CFDs, which its forex, cfds and stocks cover
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 | Webull |
|---|---|---|
| United States | Yes | Yes |
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.
Webull
What does it cost to trade?+
A stock trade costs $0 and an options contract $0, on the ira account. The pricing model is commission free, and incoming stock transfers are free. Costs stay low, though they do not decide whether a trade makes money.
Is my money protected if the firm fails?+
Accounts sit with WEBULL FINANCIAL LLC. Investor protection is SIPC up to USD 500,000, and registration with FINRA, SEC and SIPC applies, with SIPC membership listed as SIPC member 71394. Low costs do not change that, so weigh the retail loss figures before you trade.
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