Overview of Merrill Edge and Webull
Are you looking for a brokerage firm? Do you want top software and trading tools?
Webull and Merrill Edge could be what you need, but there are some important differences.
Check out this comparison before you choose:
Comparison Table
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| Rating |
|
|
| Stocks |
$0 |
$0 |
| Options (per contract) |
$0.65 |
$0 |
| Mutual Funds |
$19.95 |
na |
| Initial Funding Requirement |
$0 |
$0 |
| Inactivity Fee |
$0 |
$0 |
| IRA Annual Fee |
$0 |
$0 |
| Full Account Transfer |
$0 |
$75 |
| Partial Account Transfer |
$0 |
$75 |
| Account Closing Fee |
$0 |
$0 |
| Trading Experience & Technology |
|
|
| Mobile |
|
|
| Research Amenities |
|
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| Portfolio & Analysis Reports |
|
|
| Customer Service and Education |
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Methods of Investing
Merrill Edge is a discount broker, but it offers more than just self-directed accounts; there is also a managed account option. For a fee starting at 0.45% per year, a licensed advisor will manage ETFs and mutual funds for you.
Self-directed accounts are also available. Besides mutual funds and ETFs, Merrill customers can buy and sell bonds, stocks, and options.
Webull is a very low-cost firm. It offers
robo accounts for 0.20% per year. Mutual funds are not offered. In self-directed accounts, Webull lets clients trade stocks, ETFs, closed-end funds, bonds, futures, options, and cryptocurrencies. That last feature is a big plus over Merrill.
Winner: Webull
Websites
We found the Merrill Edge website easy to use. The site no longer has the trade bar, but it still offers good trading tools, like charts with indicators, an order ticket with trailing orders, and many research tools.
Webull’s main website is less useful and lacks helpful information. But it does have a browser trading platform, which you can launch from the top of the page. This trading software has powerful tools.
Even experienced traders will find useful features. Some of the best are:
- Multi-chart and multi-ticket trading
- Volume analysis
- Level II data
- Demo mode
None of these are on Merrill’s website. Both offer charting, but Webull’s charts are better. You can make charts full-screen on Webull, which isn’t possible at Merrill.
You can also expand other Webull tools full-width. Merrill leaves a lot of empty space on its site, but Webull lets you fill the screen with widgets.
Winner: Webull
Desktop Programs
Merrill’s website trading isn’t the best, but it makes up for it with MarketPro, a strong desktop trading platform. You launch it from the website. MarketPro includes:
Market Depth with Level II data, lots of trading numbers,
Charts with over 100 indicators, 13 styles, and about 25 drawing tools,
Free access to Recognia and OptionsPlay.
MarketPro’s downside is that you have to download a small file every time you use it.
Webull’s desktop program doesn’t require extra downloads. It launches normally, remembers your login, and you don’t have to sign in again every time.
Webull’s desktop program also has some great features:
- Paper trading (not on MarketPro)
- Bracket orders (not on Merrill)
- Custom order buttons (not on Merrill)
- Level II quotes
- Watchlists
- Full-screen charting (with fewer features than MarketPro)
Winner: Pretty close
Mobile Apps
On mobile, both brokers perform well. Webull’s app has many features, including a community forum, which is rare for broker apps. There is a simulated trading mode for practice and trading competitions are available.
You’ll find lots of trading widgets, including multi-graph charting, different graph styles, bracket orders, crypto orders, watchlists, alerts, and more.
Webull’s app is strong, but Merrill Edge does have some features that Webull doesn’t: free credit score, mobile check deposit, and bill pay. However, Merrill’s graphing tools aren’t as good, and the app doesn’t have social networking, so it isn’t as strong for trading.
Winner: Webull
Margin Borrowing
Both firms let you trade with borrowed money. Merrill Edge charges between 12.18% and 11.08% depending on what you borrow. Webull has a sliding scale; the lowest rate is 5.74% and the highest is 8.74%.
Webull’s software, but not Merrill’s, shows important margin info on stocks and ETFs.
Winner: Webull
Miscellaneous Services
Fractional-share Trading: Only on Webull.
IRAs: Webull has personal IRAs; Merrill Edge has personal and small business accounts.
IPO Availability: Only Webull shows upcoming IPOs on the U.S. exchanges.
Banking Tools: Webull gives a high
3.35% APY rate on cash.
Dividend Reinvestment Program: Both offer this service.
Extended Hours: Pre-market and after-hours are available at both brokers. Webull has a longer morning session.
Winner: Webull
Recommendation
IRAs: Merrill Edge has better IRA resources.
Beginners: Both are pretty good.
Stock/ETF Trading: Merrill Edge has better ETF research, but Webull has better tools and pricing.
Small Accounts: Webull.
Long-Term Investors and Retirement Savers: Merrill has advisors, mutual funds, and more retirement accounts.
Easy pick.
Final Judgment: Webull or Merrill Edge?
Both brokerage firms have their strengths and weaknesses. Use this review to decide which gives you the best fit for your investment needs.
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Updated on 1/1/2026.