Merrill Edge vs Webull 2024

Comparing brokers side by side is no easy task. We spend hundreds of hours each year testing the platforms, mobile apps, trading tools and general ease of use among online brokerages, as well as comparing commissions and fees, to find the best online broker.

Though many U.S. brokers offer basic trading features, such as an app, charting tools, stock research and educational content, the depth of those features can vary widely. Let's compare Merrill Edge vs Webull.

In stock trading, the more you know, the better you’ll do. Taking advantage of resources like articles, webinars, videos and interactive elements is a great way to shorten the learning curve. In our analysis, we examine the availability of several different types of educational materials.

For 2024, our review finds that Merrill Edge offers more comprehensive new investor education for beginning 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).

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 futures, Webull charges $1.25 per contract and Merrill Edge charges (Not offered) per contract. For a deeper dive, see our best brokers for free stock trading or options trading guides.

Looking at a full range of investment options, including order types and international trading, our research has found that Merrill Edge offers a more comprehensive offering than Webull. Merrill Edge ranks #7 out of 18 brokers for our Investment Options category, while Webull ranks #12.

Merrill Edge offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Advisor Services, while Webull offers investors access to Stock Trading, Fractional Shares, Options Trading, OTC Stocks and Futures Trading. Neither have 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.

In our analysis of top U.S. brokerages, we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum. Though crypto has risen steadily in popularity, availability still varies from broker to broker. Our review finds that Webull offers crypto trading, while Merrill Edge does not.

To compare the day trading platforms of Merrill Edge and Webull, we focused on trading tools and functionality across both web and desktop-based platforms. Popular day trading platform tools include streaming real-time quotes, stock alerts, trading hotkeys, direct market routing, streaming time and sales, customizable watch lists, backtesting, and fully functional charting packages, among many others. For day trading, Merrill Edge offers a better experience.

After testing 25 features across the stock trading apps of Merrill Edge and Webull, we found Merrill Edge to be better overall. The best stock market apps are easy to use, have excellent design, and deliver a fully featured online trading experience. Merrill Edge ranks #5 out of 18 brokers, while Webull ranks #7.

Merrill Edge Trading App Gallery

Webull Trading App Gallery

For research, Merrill Edge offers superior market research than Webull. Merrill Edge ranks #4 and Webull ranks #11.

Over the years, we've found that the best brokers provide rich market commentary, a variety of third-party research reports, and thorough quote screens that are not just easy to navigate, but that also include a comprehensive selection of fundamental data. Robust stock, ETFs, and mutual fund screeners are also must-haves for trade idea generation.

Merrill Edge requires a minimum deposit of $0.00, while Webull requires a minimum deposit of $0.00. From our testing, we found that SoFi is the only broker that requires a minimum deposit.

Merrill Edge charges Varies for accounts under $25,000 while Webull charges a margin rate of 9.74%. The industry average of the 18 brokers we track is 9%.

While Webull offers fractional shares, Merrill Edge does not. Our research has found that 46% of brokers offer fractional shares investing. Fractional shares allow traders to buy a part of a whole share of stock. For example, if Amazon is trading at $1,000, you could buy half a share for $500.

Both Merrill Edge and Webull allow you to trade penny stocks. Merrill Edge charges N/A per trade while Webull charges N/A. Penny stocks are companies whose shares trade for under $5 and are listed over the counter (OTC). For brokers that do offer penny stock trades, the average commission is $3.

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.

StockBrokers.com partners with customer experience research group Confero to conduct phone tests from locations across the United States to thoroughly evaluate the quality and speed of brokerage customer service. (Read more about How We Test.) Here are the results of our current testing.

Merrill Edge was rated 2nd out of 13 brokers, with an overall score of 9.3 out of 10.

Webull was rated 13th out of 13 brokers, with an overall score of 4.42 out of 10.

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.

In the 2024 StockBrokers.com Annual Awards, Merrill Edge was rated No. 1 for Bank Brokerage, Overall Client Experience, and Client Dashboard. It placed among Best in Class for Research, Platforms & Tools, Mobile Trading Apps, Education, Ease of Use, Beginners, Customer Service, IRA Accounts, Options Trading, High Net Worth Investors and Overall.

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.

In the 2024 StockBrokers.com Annual Review, Webull ranked No. 1 for Paper Trading. It placed among Best in Class for Investor Community.