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

Broker Name

Webull

Merrill Edge

Broker Overview

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

Self-directed retail brokerage platform

ECN broker

Years of Existence / Established Year

2017

2010

Customer Base / Number of Accounts

20 Million

3.5+ Million Clients

Regulation & Security

Regulations (governing bodies)

SEC, FINRA

Awards Won (count for the last 2 years)

2024 Global Private Banking Awards

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

Security Measures

SIPC, FIDC, Apex Clearing Corp upto $150 million

SIPC

SSL Encryption / 2FA

Yes

Segregated Funds

Yes

Negative Balance Protection

Yes

Trading Instruments/Products Offered

Assets Types / Trading Instruments (total count and breakdown)

3,300 ETFs including OTC, Margin, Index options, US treasuries bonds

CDs, Fixed income

Currency Pairs

Commodities

Indices

Cryptocurrencies

Yes

CFDs

ETFs

Yes

Stocks

Yes

Options

Yes

Futures

Yes

Bonds

Yes

Mutual Funds

Yes

Fractional Shares

Yes

Exchange Traded Notes (ETNs)

Precious Metals

Real Estate Investment Trusts (REITs)

Equities

Yes

Trading Platforms & Technology

Trading Platform Availability

Yes

MT4

MT5

cTrader

Social Trading

Copy Trading

Yes

Other Trading Platforms (proprietary, etc.)

Desktop, Web, and Mobile apps

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, IRA, Futures, Advisor, Entity

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

Demo Account (Yes/No)

Yes

Islamic Accounts (Yes/No)

Yes

Minimum Deposit

Leverage Available

4:1 to 2:1

Trade Limit (maximum per trade)

Unlimited number of day trades

Depends on asset class

Commission (per account type)

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

Beginners, Active and passive investor

Beginners to intermediate traders

Deposit & Withdrawal Options

Deposit Methods

Bank linking, ACH, Wire Transfer, Debit card funding, Recurring deposit

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

Withdrawal Methods

ACH withdrawals

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

Other E-Wallets Supported

Tools & Educational Resources

Economic Calendar

Yes

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

Trading Education, Market News and Analysis, Webinars and Live Events, Trading Simulator, Financial Insights and Research

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

Fees & Commissions

Trading-Related Fees

Regulatory Transaction Fee- $0.0000278*Total $ Trade Amount, Regulatory Fee- $0.000166 * Total Trade Volume Min $0.01 per - Max $8.30 per, CAT Regulatory Fees- $0.000052 * Total Trade Volume, Low-Priced Securities- $0.0002 per share, F-stocks (foreign settlement)- Buys: $5.00 per trade, Sells: $0.05 per trade, liquidity Charge- Minimum Overnight Interest Rate: 15% Fee: $250, CAT Regulatory Fees- Buys & Sells: $0.00000072 * Total Trade Volume

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

Spread (typical, fixed, variable)

Variable

Per Lot Fees

Options Contract Fees

$0.10 per contract

$0.65 per contact

Futures Contract Fees

$1.50

Markup Fees on Spread

1.50%

Guaranteed Stop Loss Fees

Maximum Leverage

4:1

Non-Trading Fees

Dormant Fees

Subscription Fees (for premium features, data feeds)

Advisory Fees

0.85%

Swap Fees (Overnight Financing)

Yes

Statement or Document Fee

$2 for each confirmation, $5 for each account statement, and $2.5 for each prospectus mailing

Account Opening Fee

Account Maintenance Fee

Deposit Fee

$8 for deposits in the U.S., $12.5 for international deposits

Currency Conversion Fee

$10

Varies for ADRs

Withdrawal Fee

$25 for withdrawals in the U.S, and $45 for international withdrawals

Wire transfer fee-$25

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 from 4:00 AM to 9:30 AM EST

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

Customer Support

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

24/7

Customer Support Methods (phone, email, live chat)

E-mail: [email protected], call :1-888-828-0618, in app chat

Phone: 888.637.3343, Schedule an appointment

Support Languages

15+

Additional Information

Headquarters Location

44 Wall Street, New York City

Charlotte, North Carolina, USA

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.

Webull is known for competitive pricing on basic trades, especially for beginners. However, Merrill Edge fee structure, though slightly higher, covers a broader range of services, making it more suitable for active traders.

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

While Webull focuses on mobile-first design and clean user experience, Merrill Edge includes features like in-depth charting, integrated news feeds, and strong desktop performance.

Webull stands out for active traders with robust tools, while Merrill Edge suits investors seeking simplicity and ease of use.

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