Merrill Edge
Saxo Bank
*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.
Basic data of broker
Recommended for Investors and traders looking for low fees, quick account opening and simple platforms
Recommended for Investors and traders looking for a great trading platform and solid research
Best forex broker
USA
Denmark
Fees
Low trading and non-trading fees, high fund fees
Average trading and non-trading fees, low forex fees
Stock and ETF fees
Forex fees
Fund fees
Bond fees
Options fees
Futures fees
Crypto fees
CFD fees
Non-trading fees
Deposit and withdrawal
1
26
Deposit type
Withdrawal type
Account opening
$0
$2000
1 day
1 day
None for those with an IP address in the US; for those that don't--2 utility bills, drivers license, passport
Proof of identity: personal ID / passport / driver's licence Proof of residence: ID card / insurance card / utility bill / bank statement
Trading platform
Markets and products
Disclaimer: 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Research, education
Mid-range
Great
Customer service
Security
$500,000 (securities up to $500,000, cash up to $250,000)
€100,000 for cash and €20,000 for securities for most European clients; £85,000 for UK clients; CHF 100,000 for Swiss clients; HKD 500,000 for securities at Hong Kong entity; no protection for clients from Singapore, Japan and Australia
2010
1992
USA
Denmark, UK, France, Italy, Switzerland, Singapore, Japan, Hong Kong, Australia
For detailed information and hands-on experience, read our review of this broker.
For detailed information and hands-on experience, read our review of this broker.
*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.
Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.
Merrill Edge's service is on par with Saxo Bank's and a comparison of their fees shows that Merrill Edge's fees are lower than Saxo Bank's.
Account opening takes somewhat less effort at Merrill Edge compared to Saxo Bank, deposit and withdrawal processes are considerably more complicated at Merrill Edge, while customer service quality is somewhat lower than Saxo Bank's.
Our experts rated the trading platform of Merrill Edge as somewhat worse than the platform of Saxo Bank, found that clients have access to much less markets and products with Merrill Edge, while Saxo Bank provides somewhat better research and education.