Basic data of broker
Recommended for Investors and traders looking for low fees, quick account opening and simple platforms
Recommended for Forex and CFD traders who prefer MetaTrader platforms and seek great account opening
Low trading and non-trading fees, high fund fees
Average trading and non-trading fees, low CFD fees
Stock and ETF fees
Deposit and withdrawal
None for those with an IP address in the US; for those that don't--2 utility bills, drivers license, passport
Proof of identity: passport / national ID card / driver's license Proof of residency: bank statement / utility bill
Markets and products
Disclaimer: 74.89% 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.
$500,000 (securities up to $500,000, cash up to $250,000)
€20,000 for EEA residents, no protection for others
Cyprus, Australia, Belize, United Arab Emirates
For detailed information and hands-on experience, read our review of this broker.
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 XM's and a comparison of their fees shows that Merrill Edge's fees are similar to XM's.
Account opening takes about the same effort at Merrill Edge compared to XM, deposit and withdrawal processes are considerably more complicated at Merrill Edge, while customer service quality is somewhat lower than XM's.
Our experts rated the trading platform of Merrill Edge as somewhat better than the platform of XM, found that clients have access to about the same number of markets and products with Merrill Edge, while XM provides somewhat better research and education.