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Comparison Firstrade vs Merrill Edge
The InvestorGreg.net broker comparisons assess over a dozen different brokers, finding the best online trading brokers. This comparison page compares Firstrade vs Merrill Edge. Is Firstrade or Merrill Edge a better online broker?
First of all, we’ll compare the commission fees of the two brokers. The commission fee of Firstrade on regular transactions of the stock exchange is $0, and Merrill Edge has a commission fee of $6.95. When analyzing trading options, the commission fees of Firstrade is $0, and that one of Merrill Edge is $6.95 + $0.75. You can read more detailed information on commission fees in the online broker reviews.
It is important for investors to know what types of online trading broker supports and what tools they can use for trading. Let’s compare them. Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading are provided to customers by Firstrade and Stocks Trading, Penny Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading are provided by Merrill Edge. As for platforms, Firstrade offers Desktop Platform (Windows), Desktop Platform (MacOS), Web Platform, Android App, iOS App, while Merrill Edge offers Web Platform, Android App, iOS App.
In conclusion, when comparing the two online brokers, we should pay our attention to the year and country of foundation, the regulatory authorities and ways to withdraw funds. Firstrade was established in 1985 in United States, and it is regulated by SEC and FINRA. And Merrill Edge was established in 2010 in USA, and it is regulated by SEC, FINRA. We can withdraw funds from Firstrade with the help of Bank Wire, and its withdrawal fee is $30 domestic US, $50 international. And Merrill Edge provides the ability to withdraw funds with the help of Bank Wire, Visa/Mastercard, and its withdrawal fee is $0 (Visa Debit Card). The time for withdrawal in Firstrade is 2-3 business days, and that one in Merrill Edge is immediate (Bank Wire).
Overall, Firstrade boasts 3.9 stars versus Merrill Edge 4.1 stars.