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Merrill Edge vs Webull 2025

StockBrokers.com

Written by StockBrokers.com

September 17, 2025

In this head to head comparison of Merrill Edge vs Webull, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.

Merrill Edge
4.5/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.65
Webull
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00

Range of investments

Merrill Edge vs. Webull: pick based on what you want to trade and how you invest. Merrill Edge is a strong fit for long-term investors who want mutual funds and advisor support, earning a 4.5/5 rating and ranking #7 of 14 for Range of Investments by StockBrokers.com. Webull favors active traders who want fractional shares plus crypto, forex, and futures; it’s rated 4/5 and ranks #11 of 14 for Range of Investments. Both brokers cover core needs with stock, options, OTC stock, and margin trading, and both offer Traditional and Roth IRAs.

Trading choices differ in key ways. Merrill Edge offers stocks, options, margin, and OTC stocks, but it does not support fractional shares, crypto, forex, or futures. Webull also offers stocks, options, margin, and OTC stocks, and adds fractional shares, crypto trading with 50 coins, forex, and futures. If you want mutual funds, only Merrill Edge provides them.

For account features, both brokers support Traditional and Roth IRAs. If you want guidance, Merrill Edge offers advisor services, while Webull does not. If your priority is access to newer assets (crypto, forex, futures) or fractional shares, Webull has the edge; if you value mutual funds and advisor help within a single platform, Merrill Edge is the better match.

Feature Merrill Edge logoMerrill Edge
Webull logoWebull
Stock Trading info Yes Yes
Account Feature - Margin Trading info Yes Yes
Fractional Shares (Stocks) info No Yes
OTC Stocks info Yes Yes
Mutual Funds info Yes No
Options Trading info Yes Yes
Futures Trading info No Yes
Crypto Trading info No Yes
Crypto Trading - Total Coins info 0 50
Range of Investments 4.5/5 Stars 4/5 Stars

Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025: A Beginner-Friendly Guide to an Advanced Market

Trading platforms and tools

When it comes to choosing between Merrill Edge and Webull for online trading, both platforms offer solid options with unique strengths. Merrill Edge excels in its comprehensive charting tools and customization options, from providing more technical indicators to allowing custom date ranges. On the other hand, Webull stands out with its versatile downloadable desktop platforms for both Windows and Mac, making it convenient for traders who prefer a dedicated application. With both platforms rated at four stars for their trading tools, the decision largely depends on your specific needs, such as the importance of desktop access or deeper charting functionalities.

Merrill Edge offers an impressive array of charting capabilities, boasting 105 technical indicators and 23 drawing tools, compared to Webull’s 52 indicators and 19 tools. While both platforms allow users to adjust open orders directly on stock charts and display vital information such as historical trades and corporate events, Merrill Edge edges out with additional features like custom date ranges and more customizable fields for studies like SMAs. Moreover, with 285 fields available for watch lists, Merrill Edge proves to be more extensive than Webull, which offers 35.

Webull, however, has the advantage of providing a downloadable trading platform for both Windows and Mac, a feature that Merrill Edge lacks. It also offers paper trading, which is a plus for users looking to practice their strategies without financial risk. While both platforms do not yet include trading journals, Webull's ability to create custom studies might appeal to traders keen on personalization and strategizing unique trading approaches. Both platforms rank closely for their tools, with Merrill Edge placed sixth and Webull seventh among 14 brokers evaluated by StockBrokers.com. Ultimately, your choice will depend on whether a more feature-rich web interface or the convenience of desktop software holds more value for you.

Feature Merrill Edge logoMerrill Edge
Webull logoWebull
Web Trading Platform info Yes Yes
Desktop Trading Platform info No Yes
Desktop Platform (Mac) info No Yes
Paper Trading info No Yes
Watchlists - Total Fields info 285 35
Charting - Indicators / Studies info 105 52
Charting - Drawing Tools info 23 19
Platforms & Tools 4/5 Stars 4/5 Stars

Dive deeper: Best Online Brokers & Trading Platforms for 2025, Best Paper Trading Apps & Platforms for 2025

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Beginners and education

Merrill Edge and Webull both offer beginner-friendly education on stocks, ETFs, options, and bonds, along with videos, webinars, and quizzes. Merrill Edge goes further with mutual funds education, which Webull does not provide. Webull, however, stands out for hands-on learning: it includes paper trading and lets you track your learning progress, two features Merrill Edge lacks.

For overall quality, Merrill Edge earns 4.5 out of 5 stars and ranks #5 of 14 for education on StockBrokers.com, while Webull scores 4 out of 5 stars and ranks #10. Choose Merrill Edge if you want broader topic coverage—especially mutual funds—and a higher-rated learning experience. Pick Webull if practicing with a simulator and monitoring your progress are top priorities.

Feature Merrill Edge logoMerrill Edge
Webull logoWebull
Education (Stocks) info Yes Yes
Education (ETFs) info Yes Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes No
Education (Fixed Income) info Yes Yes
Paper Trading info No Yes
Videos info Yes Yes
Webinars info Yes Yes
Education 4.5/5 Stars 4/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2025

Stock trading apps

When comparing Merrill Edge and Webull for their stock trading app capabilities, both platforms stand out with distinct advantages. They both offer Android and iPhone apps, along with features like mobile options trading, streaming quotes, and customizable watch lists. However, Webull takes a slight edge with unique offerings such as an Apple Watch app, after-hours charting, and a greater number of technical studies for charting—56 compared to Merrill Edge's 34. Despite these differences, both platforms receive a commendable rating of 4.5 stars, demonstrating strong user satisfaction and competitive functionality.

Both Merrill Edge and Webull cater to various trading needs effectively. They provide reliable mobile app experiences with features like after-hours stock trading, landscape mode charting, and the ability to compare stocks on charts. However, Webull’s ability to offer after-hours charting adds to its dynamic offerings, perhaps providing more flexibility for tech-savvy users. Moreover, while both platforms allow users to create custom watch lists, neither allows the customization of watch list columns.

StockBrokers.com ranks Webull slightly higher at #5 when compared to Merrill Edge’s #6, reflecting Webull's broader appeal due to its additional features. Both platforms lack certain multimedia offerings such as streaming live TV and videos on demand, but they excel in delivering timely stock alerts and facilitating viewing across different chart time frames. Whether choosing based on platform familiarity or specific extras, both Merrill Edge and Webull prove to be strong contenders in the mobile trading space.

Feature Merrill Edge logoMerrill Edge
Webull logoWebull
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No Yes
Stock Alerts info Yes Yes
Charting - After-Hours info No Yes
Charting - Technical Studies info 34 56
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Stock Trading Apps for 2025

Fees

Bottom line: Merrill Edge and Webull both offer $0 minimum deposits and $0 stock trades, but their other fees differ in ways that can matter. Webull is friendlier for frequent options traders with a $0 per-contract fee, while Merrill Edge charges $0.65 per contract. If you think you might move your account, Merrill Edge stands out with $0 fees for both partial and full ACAT transfers, compared with $75 at Webull. For IRAs, ongoing fees are $0 at both, but Merrill Edge charges $49.95 to close an IRA, while Webull charges $0. Margin pricing also diverges: Webull lists 8.74% for balances under $100,000, whereas Merrill Edge’s margin rate varies by balance.

Core trading costs are similar for most investors: minimum deposit is $0 at both brokers, and regular stock trades cost $0. Options differ: Merrill Edge is $0.65 per contract, while Webull is $0 per contract. Options exercise and assignment fees are $0 at both firms. For retirement accounts, the annual IRA fee is $0 at both, but the IRA closure fee is $49.95 at Merrill Edge versus $0 at Webull.

On margin, Webull’s rate is 8.74% for balances below $25,000, $25,000–$49,999, and $50,000–$99,999. Merrill Edge’s margin rate varies across these same tiers. For transfers, Merrill Edge charges $0 for both partial and full ACATs, while Webull charges $75 for a partial ACAT and $75 for a full ACAT.

Feature Merrill Edge logoMerrill Edge
Webull logoWebull
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Options (Per Contract) info $0.65 $0.00
Options Exercise Fee info $0.00 $0.00
Options Assignment Fee info $0.00 $0.00
IRA Annual Fee info $0.00 $0.00
IRA Closure Fee info $49.95 $0.00

Dive deeper: Best Free Trading Platforms for 2025

Day Trading

When it comes to day trading, both Merrill Edge and Webull have unique strengths and limitations. For investors looking at real-time decision-making, both platforms provide streaming time and sales data, as well as level 2 quotes, helping traders stay informed about market dynamics. However, Webull offers a slight edge by providing ladder trading and trading hotkeys, which can be attractive for traders seeking a bit more control and agility in executing trades. Unfortunately, neither platform offers streaming live TV or direct market routing, which may be a consideration for those who rely heavily on such features.

Merrill Edge, on the other hand, allows traders to perform basic strategy backtesting, a useful feature for those looking to refine their trading strategies. Conversely, neither Merrill Edge nor Webull supports advanced strategy backtesting or access to a short locator tool for finding available shares to short. Importantly, both platforms lack order liquidity rebates, which might be a disadvantage for traders who focus on high-frequency trading strategies. Ultimately, the best platform depends on the specific tools and features an individual day trader values most.

Feature Merrill Edge logoMerrill Edge
Webull logoWebull
Streaming Time & Sales info Yes Yes
Streaming TV info No No
Direct Market Routing - Equities info No No
Level 2 Quotes - Stocks info Yes Yes
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info No No
Short Locator info No No

Dive deeper: Best Day Trading Platforms of 2025 for Beginners and Active Traders

Market Research

When considering Merrill Edge and Webull for market research, Merrill Edge takes the lead with a more comprehensive suite of tools and resources. Merrill Edge stands out with its extensive offerings in stock, ETFs, mutual funds, bonds, and pink sheets/OTCBB research. Additionally, its capabilities include downloadable PDF reports, a wide array of screeners, and ESG research options. In comparison, Webull, while also providing research on stocks and ETFs, lacks in several areas such as mutual funds and bonds research, ESG considerations, and downloadable PDF reports, which positions it lower on the list for thorough research capabilities. Merrill Edge’s features earn it a 5-star rating, significantly higher than Webull’s 2.5-star score, and rank it at #5 compared to Webull's #9 by StockBrokers.com for market research performance.

Merrill Edge offers a range of market research features that cater to diverse investor needs. Users benefit from its detailed research covering stocks, ETFs, mutual funds, and bonds, complemented with pink sheets/OTCBB insights. The platform also provides downloadable PDF reports, facilitating deeper analysis. Merrill Edge’s tools for assessing portfolio allocation by asset class and its ESG research capabilities further enhance its offerings, providing users with a well-rounded view of investment opportunities across various asset types.

Webull, primarily known for its user-friendly interface and real-time data, provides stock and ETFs research, benefiting those who prioritize social media sentiment data within their investment strategies. However, the platform lacks depth in several research fronts, such as mutual funds, bonds, and missing PDF report options, limiting its appeal for those seeking comprehensive data. Its market research capabilities are more focused on stocks, which might suit traders primarily focused on this asset class. Despite these limitations, Webull’s stock screener remains a useful tool for generating trade ideas, though it falls short in screener options for ETFs, mutual funds, and bonds compared to Merrill Edge.

Feature Merrill Edge logoMerrill Edge
Webull logoWebull
Research - Stocks info Yes Yes
Screener - Stocks info Yes Yes
Research - ETFs info Yes Yes
Screener - ETFs info Yes No
Research - Mutual Funds info Yes No
Screener - Mutual Funds info Yes No
Research - Fixed Income info Yes No
Screener - Fixed Income info Yes No
Research 5/5 Stars 2.5/5 Stars

Banking

When comparing Merrill Edge and Webull for banking services, Merrill Edge clearly stands out as the more comprehensive option. Merrill Edge provides a complete suite of banking products, including checking accounts, savings accounts, and debit and credit cards, all of which Webull lacks. Additionally, Merrill Edge offers mortgage loans and certificates of deposit (CDs), whereas Webull does not provide these services. For anyone looking to consolidate their investments and banking needs under one roof, Merrill Edge offers a range of options that Webull simply does not match.

Feature Merrill Edge logoMerrill Edge
Webull logoWebull
Checking Accounts info Yes No
Savings Accounts info Yes No
Debit Cards info Yes No
Credit Cards info Yes No
Mortgage Loans info Yes No
Brokerage CDs info Yes No

Dive deeper: Best Brokerage Checking Accounts for 2025

Winner

After opening live accounts and testing 14 of the best online brokers, our research and live account testing finds that Merrill Edge is better than Webull. Merrill Edge finished with an overall score of 92.7%, while Webull finished with a score of 81.0%.

Merrill Edge and its parent, Bank of America, make for a well-rounded offering, with $0 trades, robust research, reliable customer service; and its Stock Stories and Fund Stories are an industry standout. There are some gaps in investment offerings, including crypto and futures.

FAQs

Can you trade cryptocurrency with Merrill Edge or Webull?

Merrill Edge does not offer cryptocurrency trading (0 coins). Webull supports crypto trading with access to 50 coins, making it the better choice for investors seeking digital asset exposure.

Dive deeper: Best Online Brokers for Crypto Trading in 2025

Does Merrill Edge or Webull offer IRAs?

Both Merrill Edge and Webull offer traditional and Roth IRA accounts with no annual fees, but unlike Webull, Merrill Edge charges a $49.95 closure fee when closing IRA accounts.

Dive deeper: Best IRA Accounts for 2025

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Compare

0 of 5
Overall Rating Merrill Edge Webull
Overall 4.5/5 Stars 4/5 Stars
Range of Investments 4.5/5 Stars 4/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 5/5 Stars 2.5/5 Stars
Customer Service 4.0/5 Stars 3/5 Stars
Education 4.5/5 Stars 4/5 Stars
Ease of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Merrill Edge Review Webull Review
Broker Screenshots Merrill Edge Webull
Broker Gallery (click to expand)
Trading Fees Merrill Edge Webull
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Penny Stock Fees (OTC) info N/A N/A
Mutual Fund Trade Fee info Varies info N/A
Options (Per Contract) info $0.65 $0.00
Futures (Per Contract) info (Not offered) $1.25 info
Broker Assisted Trade Fee info $29.95 N/A
Margin Rates Merrill Edge Webull
Margin Rate Under $25,000 info Varies info 8.74%
Margin Rate $25,000 to $49,999.99 info Varies info 8.74%
Margin Rate $50,000 to $99,999.99 info Varies info 8.74%
Margin Rate $100,000 to $249,999.99 info Varies info 8.74%
Margin Rate $250,000 to $499,999.99 info Varies info 8.74%
Margin Rate $500,000 to $999,999.99 info Varies info 8.74%
Margin Rate Above $1,000,000 info Varies info 8.74% info
Account Fees Merrill Edge Webull
IRA Annual Fee info $0.00 $0.00
IRA Closure Fee info $49.95 $0.00
Account Transfer Out (Partial) info $0.00 $75.00
Account Transfer Out (Full) info $0.00 $75.00
Options Exercise Fee info $0.00 $0.00
Options Assignment Fee info $0.00 $0.00
Investment Options Merrill Edge Webull
Stock Trading info Yes Yes
Account Feature - Margin Trading info Yes Yes
Fractional Shares (Stocks) info No Yes
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 4
Futures Trading info No Yes
Forex Trading info No Yes
Crypto Trading info No Yes
Crypto Trading - Total Coins info 0 50
Fixed Income (Treasurys) info Yes Yes
Fixed Income (Corporate Bonds) info Yes Yes
Fixed Income (Municipal Bonds) info Yes No
Traditional IRAs info Yes Yes
Roth IRAs info Yes Yes
Advisor Services info Yes No
International Countries (Stocks) info 0 0
Order Types Merrill Edge Webull
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes Yes
Order Type - OCO info No Yes
Order Type - OTO info No Yes
Order Type - Broker Assisted info Yes No
Beginners Merrill Edge Webull
Education (Stocks) info Yes Yes
Education (ETFs) info Yes Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes No
Education (Fixed Income) info Yes Yes
Education (Retirement) info Yes Yes
Retirement Calculator info Yes No
Investor Dictionary info Yes Yes
Paper Trading info No Yes
Videos info Yes Yes
Webinars info Yes Yes
Progress Tracking info No Yes
Interactive Learning - Quizzes info Yes Yes
Stock Trading Apps Merrill Edge Webull
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No Yes
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes Yes
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes Yes
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info No Yes
Stock App Features Merrill Edge Webull
Mobile Research - Market Movers info Yes Yes
Stream Live TV info No No
Videos on Demand info No No
Stock Alerts info Yes Yes
Option Chains Viewable info Yes Yes
Watchlist (Real-time) info Yes Yes
Watchlist (Streaming) info Yes Yes
Mobile Watchlists - Create & Manage info Yes Yes
Mobile Watchlists - Column Customization info No No
Stock App Charting Merrill Edge Webull
Charting - After-Hours info No Yes
Charting - Can Turn Horizontally info Yes Yes
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 34 56
Charting - Study Customizations info Yes Yes
Charting - Stock Comparisons info Yes Yes
Trading Platforms Merrill Edge Webull
Active Trading Platform info Merrill Edge Market Pro N/A
Desktop Trading Platform info No Yes
Desktop Platform (Mac) info No Yes
Web Trading Platform info Yes Yes
Paper Trading info No Yes
Trade Journal info No No
Watchlists - Total Fields info 285 35
Stock Chart Features Merrill Edge Webull
Charting - Adjust Trades on Chart info Yes Yes
Charting - Indicators / Studies info 105 52
Charting - Drawing Tools info 23 19
Charting - Notes info Yes Yes
Charting - Historical Trades info Yes Yes
Charting - Corporate Events info Yes Yes
Charting - Custom Date Range info Yes No
Charting - Custom Time Bars info Yes No
Charting - Automated Analysis info Yes Yes
Charting - Save Profiles info Yes Yes
Trade Ideas - Technical Analysis info Yes Yes
Charting - Study Customizations info 8 2
Charting - Custom Studies info No Yes
Day Trading Merrill Edge Webull
Streaming Time & Sales info Yes Yes
Streaming TV info No No
Direct Market Routing - Equities info No No
Ladder Trading info No Yes
Trade Hot Keys info No Yes
Level 2 Quotes - Stocks info Yes Yes
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info No No
Short Locator info No No
Order Liquidity Rebates info No No
Research Overview Merrill Edge Webull
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes No
Research - Pink Sheets / OTCBB info Yes Yes
Research - Fixed Income info Yes No
Screener - Stocks info Yes Yes
Screener - ETFs info Yes No
Screener - Mutual Funds info Yes No
Screener - Fixed Income info Yes No
Portfolio Asset Allocation info Yes No
Stock Research Merrill Edge Webull
Stock Research - PDF Reports info 3 0
Stock Research - Earnings info Yes Yes
Stock Research - Insiders info Yes Yes
Stock Research - Social info No Yes
Stock Research - News info Yes Yes
Stock Research - ESG info Yes No
Stock Research - SEC Filings info Yes Yes
ETF Research Merrill Edge Webull
ETFs - Investment Objective info Yes Yes
ETF Fund Facts - Inception Date info Yes Yes
ETF Fund Facts - Expense Ratio info Yes Yes
ETF Fund Facts - Total Assets info Yes Yes
ETF Fund Facts - Total Holdings info Yes Yes
ETFs - Top 10 Holdings info Yes Yes
ETFs - Sector Exposure info Yes Yes
ETFs - Risk Analysis info Yes No
ETFs - Ratings info Yes Yes
ETFs - Morningstar StyleMap info Yes No
ETFs - PDF Reports info Yes No
Mutual Fund Research Merrill Edge Webull
Mutual Funds - Investment Objective info Yes No
Mutual Funds - Performance Chart info Yes No
Mutual Funds - Performance Analysis info Yes No
Mutual Funds - Prospectus info Yes No
Mutual Funds - 3rd Party Ratings info Yes No
Mutual Funds - Fees Breakdown info Yes No
Mutual Funds - Top 10 Holdings info Yes Yes
Mutual Funds - Asset Allocation info Yes No
Mutual Funds - Sector Allocation info Yes No
Mutual Funds - Country Allocation info Yes No
Mutual Funds - StyleMap info Yes No
Options Trading Merrill Edge Webull
Option Chains - Total Greeks info 5 5
Option Analysis - P&L Charts info Yes Yes
Banking Merrill Edge Webull
Bank (Member FDIC) info Yes No
Checking Accounts info Yes No
Savings Accounts info Yes No
Credit Cards info Yes No
Debit Cards info Yes No
Mortgage Loans info Yes No
Customer Service Merrill Edge Webull
Phone Support (Prospective Customers) info Yes Yes
Phone Support (Current Customers) info Yes Yes
Email Support info No Yes
Live Chat (Prospective Customers) info Yes No
Live Chat (Current Customers) info Yes No
24/7 Support info Yes No
Overall Merrill Edge Webull
Overall 4.5/5 Stars 4/5 Stars
Range of Investments 4.5/5 Stars 4/5 Stars
Platforms & Tools 4/5 Stars 4/5 Stars
Mobile Trading Apps 4.5/5 Stars 4.5/5 Stars
Research 5/5 Stars 2.5/5 Stars
Education 4.5/5 Stars 4/5 Stars
Ease of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Merrill Edge Review Webull Review
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