Merrill Edge vs FP Markets : Fees, Safety & Trading Conditions Compared (2026)

Broker Name

Merrill Edge

FP Markets

Broker Overview

Broker Type (e.g., Market Maker, ECN/STP)

ECN broker

Years of Existence / Established Year

2010

2005

Customer Base / Number of Accounts

3.5+ Million Clients

No information

Regulation & Security

Regulations (governing bodies)

SEC, FINRA

ASIC, CySEC, FSCA, FSA, SVG

Awards Won (count for the last 2 years)

Kiplinger 2023 Annual Broker Review, StockBrokers.com 2024 Annual Broker Review

Best CFD Broker - Africa, Best Trading Experience - Africa, Most Trusted Broker in 2023, Best Price Execution in 2024, Most Transparent Broker and Best Trading Conditions in 2024.

Security Measures

SIPC

SSL Encryption / 2FA

Yes

Segregated Funds

Yes

Negative Balance Protection

Yes

Trading Instruments/Products Offered

Assets Types / Trading Instruments (total count and breakdown)

CDs, Fixed income

10,000+ trading instruments

Currency Pairs

Yes

Commodities

Yes

Indices

Yes

Cryptocurrencies

Yes

CFDs

Yes

ETFs

Yes

Stocks

Yes

Options

Yes

Futures

Bonds

Yes

Mutual Funds

Yes

Fractional Shares

Exchange Traded Notes (ETNs)

Precious Metals

Yes

Real Estate Investment Trusts (REITs)

Equities

Trading Platforms & Technology

Trading Platform Availability

Yes

MT4

Yes

MT5

Yes

cTrader

Yes

Social Trading

Yes

Copy Trading

Yes

Other Trading Platforms (proprietary, etc.)

Merrill Edge MarketPro (proprietary), Merrill Edge Self-Directed platform (web-based), Mobile app (Merrill Edge)

Platform Compatibility (Windows, Mac, iOS, Android)

Yes

Account Types & Conditions

Account Types (Retail, Pro, VIP, etc.)

Individual, Joint, Custodial, Trust, and Retirement (IRA), 529 plans

Forex account - Standard and raw MT4-MT5 account, Islamic forex account - Raw account and standard MT4-MT5 account

Demo Account (Yes/No)

Yes

Islamic Accounts (Yes/No)

Yes

Minimum Deposit

$100

Leverage Available

500:1

Trade Limit (maximum per trade)

Depends on asset class

Depends on the asset type

Commission (per account type)

Best Suited For (e.g., beginners, experienced traders)

Beginners to intermediate traders

Beginners to experienced traders

Deposit & Withdrawal Options

Deposit Methods

ACH transfer, wire transfer, check deposit, transfers from Bank of America

Credit/ debit cards, Bank transfers, e-wallets, International bank transfers, Local bank transfers, Broker to broker

Withdrawal Methods

ACH transfer, wire transfer, check deposit, transfers from Bank of America

Credit/ debit cards, Bank transfers, e-wallets, International bank transfers, Local bank transfers, Broker to broker

Other E-Wallets Supported

Skrill, Neteller, Asia bank, Stic Pay, Fasa pay, Virtual Pay, Rupee pay, Rapyd, Perfect Money, Crypto payment, Dragon Pya, Rapid transfer

Tools & Educational Resources

Economic Calendar

Yes

Tools & Educational Resources (tutorials, webinars, market news, etc.)

Investing Education, Retirement Planning, Market Insights, Webinars and Online Seminars, Investment Guides and Tools

Trading courses, Live webinars, Podcasts, Trading guides, Platform tutorials, Ebooks, Trading glossary

Fees & Commissions

Trading-Related Fees

Commission- $0 stock and ETFs, broker-assisted trade- $29.95 or $29.95 * + $0.65 per contract

Forex- 3.50, Metals -3.50, Commodities- built into spread, Indices- Built into spread

Spread (typical, fixed, variable)

Typical

Per Lot Fees

Options Contract Fees

$0.65 per contact

Futures Contract Fees

Markup Fees on Spread

Guaranteed Stop Loss Fees

Maximum Leverage

500:1

Non-Trading Fees

Dormant Fees

Subscription Fees (for premium features, data feeds)

Advisory Fees

0.85%

$70

Swap Fees (Overnight Financing)

Yes

Long- $5.79, short- $2.59

Statement or Document Fee

Account Opening Fee

Account Maintenance Fee

Deposit Fee

Currency Conversion Fee

Varies for ADRs

Starts from 0.06 to 0.30 %

Withdrawal Fee

Wire transfer fee-$25

Upto $50

Bonuses, Promotions & Benefits

Bonuses, Promotions, and Referrals

Yes

Customer Benefits (e.g., Retirement Plan)

Yes

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

Depends on the instrument offer

Customer Support

Support Hours (e.g., 24/7, weekdays only)

24/7

Customer Support Methods (phone, email, live chat)

Phone: 888.637.3343, Schedule an appointment

Phone: Toll-free: +44 28 2544 7780, E-mail: [email protected], Live chat

Support Languages

12+

Additional Information

Headquarters Location

Charlotte, North Carolina, USA

Sydney,Australia

Complaints (for crypto brokers)

At TradingCritique, we don't just list brokers. We test, compare, and simplify your decision-making. Whether you're a beginner or a pro, our data-driven comparisons are built to match your trading style and region. Learn how we Evaluate a broker.

Merrill Edge stands out for its zero-commission trading model, appealing to cost-conscious investors. In contrast, FP Markets offers more comprehensive services with slightly higher fees, especially for advanced tools and asset classes.

Account approval at Merrill Edge is usually completed within hours, often with automated ID checks. FP Markets might take longer due to manual reviews, but provides in-depth onboarding support along the way.

Merrill Edge platform is great for fast-paced day trading, especially with features like one-click trading. FP Markets platform, by comparison, is built for strategy testing and long-term portfolio management.

Advanced users will enjoy Merrill Edge capabilities, but FP Markets remains a favorite for its streamlined and beginner-centric approach.

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