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Merrill Edge vs City Index : Fees, Safety & Trading Conditions Compared (2026)
Broker Name
Merrill Edge
City Index
Broker Overview
Broker Type (e.g., Market Maker, ECN/STP)
ECN broker
Market maker
Years of Existence / Established Year
2010
1983
Customer Base / Number of Accounts
3.5+ Million Clients
1M + active customers
Regulation & Security
Regulations (governing bodies)
SEC, FINRA
CIRO, CySEC, NFA, CFTC, CIMA, FCA, SFC, FSA, MAS, ASIC
Awards Won (count for the last 2 years)
Kiplinger 2023 Annual Broker Review, StockBrokers.com 2024 Annual Broker Review
Best trading app, Best CFD provider, Forex broker.com No.1- Performance Analytics new tool, Best in Class overall
Security Measures
SIPC
FSCS
SSL Encryption / 2FA
Yes
Yes
Segregated Funds
Yes
Yes
Negative Balance Protection
Yes
Yes
Trading Instruments/Products Offered
Assets Types / Trading Instruments (total count and breakdown)
CDs, Fixed income
13,500+ assets types including Shares
Currency Pairs
No
Yes
Commodities
No
Yes
Indices
No
Yes
Cryptocurrencies
No
No
CFDs
No
Yes
ETFs
Yes
Yes
Stocks
Yes
No
Options
Yes
Yes
Futures
No
No
Bonds
Yes
Yes
Mutual Funds
Yes
No
Fractional Shares
Exchange Traded Notes (ETNs)
No
No
Precious Metals
No
Yes
Real Estate Investment Trusts (REITs)
No
No
Equities
No
No
Trading Platforms & Technology
Trading Platform Availability
Yes
Yes
MT4
No
Yes
MT5
No
No
cTrader
No
No
Social Trading
Yes
Copy Trading
No
Yes
Other Trading Platforms (proprietary, etc.)
Merrill Edge MarketPro (proprietary), Merrill Edge Self-Directed platform (web-based), Mobile app (Merrill Edge)
City Index mobile trading app
Platform Compatibility (Windows, Mac, iOS, Android)
Yes
Yes
Account Types & Conditions
Account Types (Retail, Pro, VIP, etc.)
Individual, Joint, Custodial, Trust, and Retirement (IRA), 529 plans
Standard, MT4, Corporate account
Demo Account (Yes/No)
Yes
Yes
Islamic Accounts (Yes/No)
No
No
Minimum Deposit
$0
€100
Leverage Available
No
30:1
Trade Limit (maximum per trade)
Depends on asset class
Depends on the assets class
Commission (per account type)
$0
€0
Best Suited For (e.g., beginners, experienced traders)
Beginners to intermediate traders
Beginner to experienced
Deposit & Withdrawal Options
Deposit Methods
ACH transfer, wire transfer, check deposit, transfers from Bank of America
Bank transfer, credit card, debit card, e-wallets
Withdrawal Methods
ACH transfer, wire transfer, check deposit, transfers from Bank of America
Bank transfer, credit card, debit card, e-wallets
Other E-Wallets Supported
No
Paypal
Tools & Educational Resources
Economic Calendar
Yes
Yes
Tools & Educational Resources (tutorials, webinars, market news, etc.)
Investing Education, Retirement Planning, Market Insights, Webinars and Online Seminars, Investment Guides and Tools
Reuters Insider, News and analysis, Trading tools, Advanced trading view Charts
Fees & Commissions
Trading-Related Fees
Commission- $0 stock and ETFs, broker-assisted trade- $29.95 or $29.95 * + $0.65 per contract
UK Shares: 0.10% (min. €8 commission)US Shares: 1.5 cents per share (min. €8 commission)
Spread (typical, fixed, variable)
NA
Fixed and variable spreads
Per Lot Fees
NA
NA
Options Contract Fees
$0.65 per contact
NA
Futures Contract Fees
NA
NA
Markup Fees on Spread
NA
NA
Guaranteed Stop Loss Fees
NA
$0
Maximum Leverage
No
30:1
Non-Trading Fees
Dormant Fees
$0
$15 monthly fee after 24 months of inactivity
Subscription Fees (for premium features, data feeds)
NA
NA
Advisory Fees
0.85%
NA
Swap Fees (Overnight Financing)
Yes
Yes
Statement or Document Fee
NA
NA
Account Opening Fee
$0
NA
Account Maintenance Fee
$0
NA
Deposit Fee
$0
Credit/ debit card- 2%, others - €0
Currency Conversion Fee
Varies for ADRs
Varies by instrument
Withdrawal Fee
Wire transfer fee-$25
Bank fees may apply
Bonuses, Promotions & Benefits
Bonuses, Promotions, and Referrals
Yes
Yes
Customer Benefits (e.g., Retirement Plan)
Yes
No
Trading Hours
Trading Hours (for each asset class if applicable)
Pre-market trading: 7:00 AM to 9:30 AM ET, Regular trading hours: 9:30 AM to 4:00 PM ET, After-hours trading: 4:01 PM to 8:00 PM ET
Varies by instrument
Customer Support
Support Hours (e.g., 24/7, weekdays only)
24/7
24/5
Customer Support Methods (phone, email, live chat)
Phone: 888.637.3343, Schedule an appointment
Email: [email protected], Phone: 0800 060 8609, Live chat
Support Languages
2
6
Additional Information
Headquarters Location
Charlotte, North Carolina, USA
1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET
Complaints (for crypto brokers)
No
No
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