Compare Merrill Edge vs Questrade


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

Merrill Edge vs Questrade
overall rating
4.8
4.6
overall pros
  • Low trading fees
  • Easy and seamless account opening
  • Strong parent company
  • Low stock and ETF fees
  • Solid research tools
  • Superb customer service
overall cons
  • Limited to US clients and products
  • No demo account
  • Limited options to deposit/withdraw
  • Slow account opening for non-Canadians
  • High withdrawal fee for non-Canadians
  • Limited account base currencies
fees
4.4
  • Low trading fees
  • Low non-trading fees
  • Low stock and ETF fees
  • High financing rate
3.7
  • Low non-trading fees
  • Low stock and ETF fees
  • Low fund fees
  • High CFD fees
  • High margin rates
account opening
5.0
  • Fast
  • Fully digital
  • No minimum deposit
  • Only US clients are accepted
3.8
  • Fast
  • Fully digital
  • User-friendly
  • Minimum deposit is higher than $500
  • Complicated for non-Canadians
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
2.7
  • Free withdrawal
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Slow withdrawal - over 3 days
  • High fee for wire withdrawals
web trading platform
4.3
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • Limited customizability (for charts, workspace)
3.8
  • User-friendly
  • Good variety of order types
  • Price alerts
  • No clear fee report available
  • Limited customizability (for charts, workspace)
mobile trading platform
4.8
  • User-friendly
  • Two-step (safer) login
  • Touch/Face ID login
  • Poor search function
4.8
  • User-friendly
  • Two-step (safer) login
  • Good variety of order types
desktop trading platform
4.3
  • User-friendly
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • No clear fee report available
markets and products
2.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
4.2
  • Stock
  • ETF
  • Forex
  • Fund
  • Bond
  • Options
  • CFD
research
4.0
  • Trading ideas
  • Data on asset fundamentals
  • Quality news flow
  • Limited interactive charting
  • No/limited set of analytic tools
4.8
  • Good interactive chart
  • Trading ideas
  • Data on asset fundamentals
  • Live data only available for paid subscription
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
4.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Educational section is hard to navigate
  • 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
  • CAD 10 million per account additional insurance
  • 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 Traders and investors focusing on the Canadian and US markets
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