Compare Merrill Edge vs Oanda


Online brokers compared for fees, trading platforms, safety and more. See how Merrill Edge stacks up against Oanda!

Merrill Edge vs Oanda
overall rating
4.8
4.4
overall pros
  • Low trading fees
  • Easy and seamless account opening
  • Strong parent company
  • Low trading fees
  • Great trading platforms
  • Outstanding research tools
overall cons
  • Limited to US clients and products
  • No demo account
  • Limited options to deposit/withdraw
  • Only FX and CFD available
  • No stock exchange listing and banking background
  • Withdrawal fee can be high
fees
4.4
  • Low trading fees
  • Low non-trading fees
  • Low stock and ETF fees
  • High financing rate
2.9
  • Low trading fees
  • Low forex fees
  • First credit/debit card withdrawal per month is free
  • High withdrawal fee for bank transfers
account opening
5.0
  • Fast
  • Fully digital
  • No minimum deposit
  • Only US clients are accepted
4.4
  • Fully digital
  • No minimum deposit
deposit and withdrawal
2.2
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Only one account base currency
  • Slow withdrawal - over 3 days
4.2
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • High withdrawal fee for bank transfers and PayPal
web trading platform
4.3
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • Limited customizability (for charts, workspace)
4.5
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • No price alerts
mobile trading platform
4.8
  • User-friendly
  • Two-step (safer) login
  • Touch/Face ID login
  • Poor search function
5.0
  • User-friendly
  • Two-step (safer) login
  • Good search function
  • No Touch/Face ID login
desktop trading platform
4.5
  • User-friendly
  • Clear fee report
  • Good customizability (for charts, workspace)
  • No price alerts
markets and products
2.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
1.6
  • Forex
  • CFD
research
4.0
  • Trading ideas
  • Data on asset fundamentals
  • Quality news flow
  • Limited interactive charting
  • No/limited set of analytic tools
5.0
  • Good interactive chart
  • Data on asset fundamentals
  • Quality news flow
  • Great API
  • No trading ideas
  • Research tools are poorly organized
customer service
4.5
  • Phone support
  • Live chat
  • No email support
4.5
  • Phone support
  • Live chat
  • Fast response time
  • No 24/7 support
education
3.5
  • Trading platform tutorial
  • Educational videos
  • No demo account
5.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Materials are not well-organized
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Banking background
  • No negative balance protection
  • Majority of clients belong to a top-tier financial authority
  • Negative balance protection
  • Financial information is publicly available
  • Does not hold a banking license
  • Not listed on stock exchange
recommended for Investors and traders who looking for low fees, quick account opening, and simple platforms Forex traders who value a user-friendly platform and great research tools
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