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Merrill Edge vs Webull 2025

StockBrokers.com

Written by StockBrokers.com

March 11, 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

Choosing between Merrill Edge and Webull can be a pivotal decision for investors seeking the best platform to meet their financial goals. Merrill Edge stands out for its broader range of investment options, earning a 4.5-star rating and ranked #7 by StockBrokers.com for its range of investments. It offers traditional and Roth IRA accounts, stock and margin trading, mutual funds, and options trading, alongside financial advisor services. Webull, with a slightly lower 4-star rating and ranked #11, appeals to tech-savvy investors who favor platforms with flexible trading options, offering features like fractional share trading, futures, and a user-friendly mobile app, but lacks mutual funds and advisor services.

Both platforms provide stock and margin trading, making them suitable for stock market enthusiasts looking to leverage their trades. However, a crucial divergence lies in their offerings of mutual funds and advisory services. Merrill Edge affords investors access to mutual funds and personalized financial advice, bolstering comprehensive investment strategies for long-term financial planning. In contrast, Webull accentuates its strength in trading capabilities but does not include mutual funds or advisor services, which may limit long-term investment strategy options for some users.

When it comes to niche investment options, Webull has a slight edge with features such as fractional shares and futures trading, catering to those interested in diverse trading methodologies without incurring full-stock expenses. Unfortunately, neither platform supports cryptocurrency trading at present. For investors focused on creating diversified portfolios with the assistance of professional guidance, Merrill Edge is the preferred choice. Meanwhile, Webull appeals more to self-directed traders who prioritize flexibility and cost-effective trading opportunities. Ultimately, the choice hinges on the investor's priority: comprehensive investment variety and guidance with Merrill Edge, or innovative trading features with Webull.

Feature Merrill Edge logoMerrill Edge
Webull logoWebull
Stock Trading info Yes Yes
Margin Trading info Yes Yes
Fractional Shares 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 No
Crypto Trading - Total Coins info 0 0
Range of Investments 4.5/5 Stars 4/5 Stars

Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025

Trading platforms and tools

When deciding between Merrill Edge and Webull for trading platforms and tools, it's important to note that they both offer unique advantages. Merrill Edge shines with a more comprehensive charting suite, offering 105 technical indicators and extensive customization features, including the ability to set custom date ranges and display a wide array of data on charts. Meanwhile, Webull stands out with its desktop downloadable trading platforms available for both Windows and Mac users, plus the ability to engage in paper trading – a notable advantage for beginners testing the waters. Both platforms receive a four-star rating and rank closely in StockBrokers.com's evaluations, with Merrill Edge slightly ahead.

Merrill Edge provides a browser-based trading platform and excels in customizable features with 285 columns for watch lists, 23 drawing tools, and the capability to make comprehensive chart adjustments, such as adjusting open orders directly and displaying historical trades. On the other hand, Webull, while offering fewer technical indicators and drawing tools, makes up for it with flexibility in paper trading and a solid application offering across multiple operating systems, appealing to users who prefer downloadable desktop options on both Windows and Mac. Additionally, Webull supports customization through the creation of custom studies for charts, providing more personalized analytical conditions.

Both Merrill Edge and Webull offer the ability to save multiple chart profiles, add notes to charts, and display corporate events, ensuring advanced charting needs are met. Merrill Edge offers eight customization fields for editing an SMA study, compared to Webull’s two, giving it an edge in detailed chart personalization. However, Webull’s capability to create custom studies adds a remarkable degree of freedom for strategy development. Ultimately, your choice might rest on whether you prize more intricate charting capabilities (Merrill Edge) or accessibility with adaptable software tools (Webull). Both brokers hold their ground firmly in the trading tools arena, catering to different aspects of trader preferences.

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
Watch Lists - 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 Brokerage Accounts for 2025, Best Paper Trading Platforms for 2025

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Beginners and education

When comparing Merrill Edge and Webull for beginner and investor education, both platforms offer a comprehensive range of educational tools for stock, ETF, and options education. However, Merrill Edge surpasses Webull in providing education on mutual funds and bonds, making it a more rounded choice for those interested in a wider range of investments. While both brokerages offer educational videos and webinars to assist users in learning, Webull stands out with its paper trading feature, allowing beginners to practice trading before investing real money. Additionally, Webull provides users with the capability to track their learning progress, which could be beneficial for users seeking a structured learning path.

In terms of educational rankings and ratings, Merrill Edge generally has the edge. It boasts a higher educational rating of 4.5 stars compared to Webull's 4 stars and is ranked 5th out of 15 brokers on StockBrokers.com, ahead of Webull’s 11th position. While both platforms offer educational quizzes to reinforce learning, Merrill Edge's broader educational offerings in mutual funds and bonds education potentially contribute to its higher rating and ranking. Nonetheless, Webull’s features like paper trading and progress tracking make it a valuable tool for self-directed learners aiming to refine their trading skills.

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 (Bonds) info Yes No
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 deciding between the stock trading apps of Merrill Edge and Webull, users can expect a similarly high-quality experience. Both platforms offer iPhone and Android apps, allowing convenient access to trading. They share features such as after-hours trading, options trading, streaming quotes, and customizable watch lists. However, Webull edges slightly ahead in some areas, offering an Apple Watch app and after-hours charting, which are not available with Merrill Edge. Although both are rated at 4.5 stars for their app capabilities, Webull narrowly ranks higher according to StockBrokers.com, placing fifth compared to Merrill Edge's sixth position.

Focusing on app features, both Merrill Edge and Webull equip traders with a comprehensive suite for stock analysis. They both boast the ability to display multiple time frames for charting, landscape mode viewing, and stock comparisons on charts. However, Webull offers a more in-depth charting feature set, with 56 technical studies compared to Merrill Edge's 34. Despite these differences, neither platform provides streaming live TV or videos on demand, and neither allows customization of watch list columns.

Ultimately, choosing between Merrill Edge and Webull may depend on individual priorities and specific needs. While both apps deliver strong performance and user satisfaction, Webull may appeal more to users who prioritize enhanced charting capabilities and the convenience of an Apple Watch app. Conversely, Merrill Edge remains a solid choice for those content with its broader service offerings. Regardless of choice, both platforms provide essential tools and features that cater to both novice and experienced traders.

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

When choosing between Merrill Edge and Webull, both platforms offer compelling terms, but the choice often boils down to specific needs. Both brokers require no minimum deposit and charge no fees for regular stock trades, making them accessible for beginner investors. However, they diverge on the cost of trading options, as Webull stands out with a $0 fee per options contract compared to Merrill Edge’s $0.65 charge. For margin trading, Webull provides more transparency with defined interest rates, while Merrill Edge’s rates are variable. Also, Webull offers cost-free IRA closures, whereas Merrill Edge imposes a $49.95 fee. A key point in Merrill Edge's favor is their free account transfers, which Webull does charge for.

Merrill Edge shines by offering complimentary account transfers, both partial and full, which is in stark contrast to Webull’s $75 transfer charge. Furthermore, neither broker imposes fees for establishing an IRA account or executing options exercises and assignments, providing cost advantages in these areas. Additionally, Webull distinguishes itself with zero charges for options contracts, presenting a cost-effective solution for options traders, while Merrill Edge does include a $0.65 fee per contract. This variance could impact the long-term expenses of active options traders.

When considering margin balances, Webull provides pre-determined rates that vary by the range of the balance: 9.24% for balances below $25,000, 8.74% for $25,000 - $49,999, and 8.24% for $50,000 - $99,999. Meanwhile, Merrill Edge employs a variable rate system, which can be less predictable for investors planning their margin strategies. Both brokers do not require a minimum deposit or charge fees for IRA maintenance, aligning with investor expectations for low-cost entry and maintenance. Ultimately, Merrill Edge and Webull offer attractive, low-cost options for investors, but your choice will reflect your specific trading preferences and cost priorities.

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 - Stocks 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 for 2025

Market Research

When examining market research capabilities, Merrill Edge stands out significantly compared to Webull. With a comprehensive range of research options across stocks, ETFs, mutual funds, and bonds, Merrill Edge offers a well-rounded resource for investors seeking detailed insights. In contrast, Webull focuses mainly on stocks and ETFs, missing out on mutual fund and bond research. Merrill Edge's superior offerings reflect in its higher ratings and rankings for market research; it garners a 5-star rating and holds the fifth position in StockBrokers.com’s rankings, while Webull trails with 2.5 stars, ranking ninth.

Merrill Edge excels by providing extensive downloadable PDF research reports for stocks, ETFs, and mutual funds, in addition to offering a wide array of screeners for trade ideas, including for stocks, ETFs, mutual funds, and bonds. This depth of research ensures investors have access to valuable insights and actionable information. Webull, on the other hand, does not provide downloadable reports and lacks screeners for ETFs and mutual funds, although it compensates somewhat with social media sentiment data used in stock analysis.

The distinction between the two platforms becomes clear in their varied focus areas; Merrill Edge is a preferred pick for investors looking for detailed ESG research, pink sheets, OTCBB, and thorough portfolio allocations by asset class. Webull’s strength lies in its user-friendly interface and focus on stocks. However, when it comes to delivering a broad spectrum of market research tools and resources, Merrill Edge provides a more comprehensive and well-rounded suite of offerings to guide investment decisions.

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 - Bonds info Yes No
Screener - Bonds 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
CDs info Yes No

Dive deeper: Best Bank Accounts for Trading Stocks for 2025

Winner

After opening live accounts and testing 15 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 and Webull both do not offer cryptocurrency trading, as neither platform supports coins for crypto transactions.

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
Trading Platform & Tools Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education 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 9.24%
Margin Rate $25,000 to $49,999.99 info Varies info 8.74%
Margin Rate $50,000 to $99,999.99 info Varies info 8.24%
Margin Rate $100,000 to $249,999.99 info Varies info 7.74%
Margin Rate $250,000 to $499,999.99 info Varies info 7.74%
Margin Rate $500,000 to $999,999.99 info Varies info 6.74%
Margin Rate Above $1,000,000 info Varies info 6.24% 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
Margin Trading info Yes Yes
Fractional Shares 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 No
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Mutual Funds (No Load) info 2952 0
Mutual Funds (Total) info 3466 0
Bonds (US Treasury) info Yes No
Bonds (Corporate) info Yes No
Bonds (Municipal) 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 (Bonds) info Yes No
Education (Retirement) info Yes No
Retirement Calculator info Yes No
Investor Dictionary info Yes Yes
Paper Trading info No Yes
Videos info Yes Yes
Webinars info Yes Yes
Webinars (Archived) 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
Market Movers (Top Gainers) 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
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes Yes
Watch Lists - Create & Manage info Yes Yes
Watch Lists - 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
Watch Lists - 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 - Index Overlays 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 No
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 - Stocks info No No
Ladder Trading info No Yes
Trade Hotkeys 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 - Bonds info Yes No
Screener - Stocks info Yes Yes
Screener - ETFs info Yes No
Screener - Mutual Funds info Yes No
Screener - Bonds info Yes No
Misc - Portfolio 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 - Strategy Overview info Yes Yes
ETF Fund Facts - Inception Date info Yes Yes
ETF Fund Facts - Expense Ratio info Yes Yes
ETF Fund Facts - Net 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 - Strategy Overview 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 - Basic View info Yes Yes
Option Chains - Strategy View info Yes Yes
Option Chains - Streaming info Yes No
Option Chains - Total Columns info 68 23
Option Chains - Greeks info 5 5
Option Chains - Quick Analysis info Yes Yes
Option Analysis - P&L Charts info Yes Yes
Option Probability Analysis info Yes Yes
Option Probability Analysis Adv info No Yes
Option Positions - Greeks info Yes Yes
Option Positions - Greeks Streaming info Yes No
Option Positions - Adv Analysis info Yes No
Option Positions - Rolling info Yes Yes
Option Positions - Grouping info Yes No
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 (Prospect Customers) info Yes Yes
Phone Support (Current Customers) info Yes Yes
Email Support info No Yes
Live Chat (Prospect 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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