Compare Merrill Edge vs Qtrade


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

Merrill Edge vs Qtrade
overall rating
4.8
4.3
overall pros
  • Low trading fees
  • Easy and seamless account opening
  • Strong parent company
  • Great customer service
  • Easy account opening
  • Solid educational tools
overall cons
  • Limited to US clients and products
  • No demo trading
  • Limited options to deposit/withdraw from accounts
  • Only Canadian and US markets covered
  • Mobile and web platform are outdated
  • Credit/debit cards and electronic wallets are not provided
fees
4.4
  • Low trading fees
  • Low non-trading fees
  • Low stock and ETF fees
  • High financing rate
3.6
  • Low non-trading fees
  • Low stock and ETF fees
  • ~100 free ETFs
  • No mutual fund fees
  • High options fees
  • CAD 25 per quarter account fee
account opening
5.0
  • Fast
  • Fully digital
  • No minimum deposit
4.4
  • Fully digital
  • No minimum deposit
  • Many account types
  • 2-3 business days account opening
  • Only available to clients with valid Canadian SIN
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
3.0
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Electronic wallets not available
web trading platform
4.3
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • Limited customizability (for charts, workspace)
3.0
  • Clear fee report
  • Good search function
  • Good variety of order types
  • No two-step (safer) login
  • Limited customizability (for charts, workspace)
mobile trading platform
4.8
  • User-friendly
  • Two-step (safer) login
  • Touch/Face ID login
  • Poor search function
2.5
  • Good search function
  • Good variety of order types
  • Order confirmation
  • No two-step (safer) login
  • No price alerts
  • No Touch/Face ID login
desktop trading platform
markets and products
2.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
2.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
research
4.0
  • Trading ideas
  • Data on asset fundamentals
  • Quality news flow
  • Limited interactive charting
  • No/limited set of analytic tools
2.8
  • Trading ideas
  • Data on asset fundamentals
  • Limited interactive charting
  • No/limited set of analytic tools
customer service
4.5
  • Phone support
  • Live chat
  • No email support
3.1
  • Phone support
  • Relevant answers
  • No live chat
  • No 24/7 support
  • Not 24/7
education
3.5
  • Trading platform tutorial
  • Educational videos
  • No demo account
4.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Not updated regularly
  • 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
  • High level of investor protection
  • Solid parent companies
  • No negative balance protection
  • 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 Investors, including beginners, who focus on the Canadian and US markets
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