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Merrill Edge vs Webull 2023

StockBrokers.com

Written by StockBrokers.com

January 23, 2023

Is Merrill Edge better than Webull? After testing 17 of the best online brokers over three months, Merrill Edge (95.25%) is better than Webull (85.09%). 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.

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Overall RatingMerrill EdgeWebull
Overall 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 3/5 Stars
Customer Service 4.0/5 Stars 3.0/5 Stars
Education 5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Merrill Edge Review Webull Review
Trading FeesMerrill EdgeWebull
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTCCB) N/A N/A
Mutual Fund Trade Fee $19.95 N/A
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.00
Futures (Per Contract) N/A N/A
Broker Assisted Trade Fee $29.95 N/A
Margin RatesMerrill EdgeWebull
Margin Rate Under $25,000 Varies 9.49%
Margin Rate $25,000 to $49,999.99 Varies 8.99%
Margin Rate $50,000 to $99,999.99 Varies 8.99%
Margin Rate $100,000 to $249,999.99 Varies 8.49%
Margin Rate $250,000 to $499,999.99 Varies 7.99%
Margin Rate $500,000 to $999,999.99 Varies 6.99%
Margin Rate Above $1,000,000 Varies 6.49%
Account FeesMerrill EdgeWebull
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $49.95 $0.00
Account Transfer Out (Partial) $0.00 $75.00
Account Transfer Out (Full) $49.95 $75.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment OptionsMerrill EdgeWebull
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares No Yes
OTCBB / Pink Sheets Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading No No
Forex Trading No No
Crypto Trading No Yes
Crypto Trading - Total Coins 0 44
Mutual Funds (No Load) 2952 0
Mutual Funds (Total) 3466 0
Bonds (US Treasury) Yes No
Bonds (Corporate) Yes No
Bonds (Municipal) Yes No
Advisor Services Yes No
International Countries (Stocks) 0 0
Order TypesMerrill EdgeWebull
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes Yes
Order Type - Trailing Stop Yes Yes
Order Type - OCO No Yes
Order Type - OTO No Yes
Order Type - Broker Assisted Yes No
BeginnersMerrill EdgeWebull
Education (Stocks) Yes Yes
Education (ETFs) Yes Yes
Education (Options) Yes Yes
Education (Mutual Funds) Yes No
Education (Bonds) Yes No
Education (Retirement) Yes No
Retirement Calculator Yes No
Investor Dictionary Yes Yes
Paper Trading No Yes
Videos Yes No
Webinars Yes No
Webinars (Archived) Yes No
Progress Tracking No Yes
Interactive Learning - Quizzes Yes Yes
Stock Trading AppsMerrill EdgeWebull
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App Yes Yes
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes Yes
Trading - Complex Options Yes Yes
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes No Yes
Stock App FeaturesMerrill EdgeWebull
Market Movers (Top Gainers) Yes Yes
Stream Live TV No No
Videos on Demand No No
Stock Alerts Yes Yes
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) Yes Yes
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization No No
Watch Lists - Total Fields 285 35
Stock App ChartingMerrill EdgeWebull
Charting - After-Hours No Yes
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 34 56
Charting - Study Customizations Yes Yes
Charting - Stock Comparisons Yes Yes
Trading PlatformsMerrill EdgeWebull
Active Trading Platform Merrill Edge Market Pro N/A
Desktop Trading Platform No Yes
Desktop Platform (Mac) No Yes
Web Trading Platform Yes Yes
Paper Trading No Yes
Trade Journal No No
Watch Lists - Total Fields 285 35
Stock Chart FeaturesMerrill EdgeWebull
Charting - Adjust Trades on Chart Yes Yes
Charting - Indicators / Studies 104 52
Charting - Drawing Tools 23 19
Charting - Notes Yes Yes
Charting - Index Overlays Yes Yes
Charting - Historical Trades Yes Yes
Charting - Corporate Events Yes Yes
Charting - Custom Date Range Yes No
Charting - Custom Time Bars Yes No
Charting - Automated Analysis Yes Yes
Charting - Save Profiles Yes Yes
Trade Ideas - Technical Analysis Yes No
Charting - Study Customizations 8 2
Charting - Custom Studies No Yes
Day TradingMerrill EdgeWebull
Streaming Time & Sales Yes Yes
Streaming TV No No
Direct Market Routing - Stocks No No
Ladder Trading No Yes
Trade Hot Keys No Yes
Level 2 Quotes - Stocks Yes Yes
Trade Ideas - Backtesting Yes No
Trade Ideas - Backtesting Adv No No
Short Locator No No
Order Liquidity Rebates No No
Research OverviewMerrill EdgeWebull
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds Yes No
Screener - Stocks Yes Yes
Screener - ETFs Yes No
Screener - Mutual Funds Yes No
Screener - Bonds Yes No
Misc - Portfolio Allocation Yes No
Stock ResearchMerrill EdgeWebull
Stock Research - PDF Reports 3 0
Stock Research - Earnings Yes Yes
Stock Research - Insiders Yes Yes
Stock Research - Social No Yes
Stock Research - News Yes Yes
Stock Research - ESG Yes No
Stock Research - SEC Filings Yes Yes
ETF ResearchMerrill EdgeWebull
ETFs - Strategy Overview Yes Yes
ETF Fund Facts - Inception Date Yes Yes
ETF Fund Facts - Expense Ratio Yes Yes
ETF Fund Facts - Net Assets Yes Yes
ETF Fund Facts - Total Holdings Yes Yes
ETFs - Top 10 Holdings Yes No
ETFs - Sector Exposure Yes Yes
ETFs - Risk Analysis Yes No
ETFs - Ratings Yes Yes
ETFs - Morningstar StyleMap Yes No
ETFs - PDF Reports Yes No
Mutual Fund ResearchMerrill EdgeWebull
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart Yes No
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus Yes No
Mutual Funds - 3rd Party Ratings Yes No
Mutual Funds - Fees Breakdown Yes No
Mutual Funds - Top 10 Holdings Yes Yes
Mutual Funds - Asset Allocation Yes No
Mutual Funds - Sector Allocation Yes No
Mutual Funds - Country Allocation Yes No
Mutual Funds - StyleMap Yes No
Options TradingMerrill EdgeWebull
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
Option Chains - Streaming Yes No
Option Chains - Total Columns 68 23
Option Chains - Greeks 5 5
Option Chains - Quick Analysis Yes Yes
Option Analysis - P&L Charts Yes Yes
Option Probability Analysis Yes Yes
Option Probability Analysis Adv No Yes
Option Positions - Greeks Yes Yes
Option Positions - Greeks Streaming Yes No
Option Positions - Adv Analysis Yes No
Option Positions - Rolling Yes No
Option Positions - Grouping Yes No
BankingMerrill EdgeWebull
Bank (Member FDIC) Yes No
Checking Accounts Yes No
Savings Accounts Yes No
Credit Cards Yes No
Debit Cards Yes No
Mortgage Loans Yes No
Customer ServiceMerrill EdgeWebull
Phone Support (Prospect Customers) Yes Yes
Phone Support (Current Customers) Yes Yes
Email Support Yes Yes
Live Chat (Prospect Customers) Yes No
Live Chat (Current Customers) Yes No
24/7 Support Yes Yes
OverallMerrill EdgeWebull
Overall 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4/5 Stars
Platforms & Tools 4.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 5/5 Stars 4.5/5 Stars
Research 5/5 Stars 3/5 Stars
Education 5/5 Stars 3.5/5 Stars
Ease Of Use 5/5 Stars 4.5/5 Stars
Winner check_circle
Review Merrill Edge Review Webull Review
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Merrill Edge vs Webull Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Merrill Edge vs Webull.

Is Merrill Edge or Webull better for beginners?

Merrill Edge offers more comprehensive new investor education for beginner investors than Webull. Merrill Edge offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while Webull offers investors access to Paper Trading, Education (Stocks), Education (ETFs) and Education (Options).

What about Merrill Edge vs Webull pricing?

Merrill Edge and Webull charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Merrill Edge, costing $0.65 per contract versus $0.00 per contract at Webull. For a complete commissions summary, see our best brokers for free stock trading guide.

Does Merrill Edge or Webull offer a wider range of investment options?

Merrill Edge offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Advisor Services, while Webull offers investors access to Stock Trading, Fractional Shares, Options Trading and OTCBB / Pink Sheets, neither have Futures Trading and Forex Trading. Looking at Mutual Funds, Webull trails Merrill Edge in its offering of no transaction fee (NTF) mutual funds, with Merrill Edge offering 3095 and Webull offering 0.

Which trading platform is better: Merrill Edge or Webull?

To compare the trading platforms of Merrill Edge and Webull, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Merrill Edge offers a better experience. With research, Merrill Edge offers superior market research. Finally, we found Webull to provide better mobile trading apps.

Does either broker offer banking?

Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Merrill Edge while Webull offers neither of these.

Is Merrill Edge good?

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.

Is Webull good?

Webull is an excellent choice for beginning and intermediate traders. The user experience is outstanding, and Webull has better charts than its natural competitor, Robinhood. Options contracts are commission-free, but crypto markups and markdowns are on the high side. Experienced investors may eventually miss the features, research, and investment choices available at leading brokers.

Merrill Edge vs Webull Winner

Overall winner: Merrill Edge

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