Comparison Merrill Edge vs Saxo Bank
A dozen different brokers were comparatively assessed on InvestorGreg.net, and the best online trading brokers were found. Here, we compare Merrill Edge vs Saxo Bank. Which of them: Merrill Edge or Saxo Bank a better online broker?
First of all, we’ll compare the commission fees of the two brokers. Merrill Edge has a commission fee of $6.95, and Saxo Bank has a commission fee of from 0.1% commission. When analyzing trading options, the commission fees of Merrill Edge is $6.95 + $0.75, and that one of Saxo Bank is from £2.50 per lot. 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, Penny Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading are provided to customers by Merrill Edge and Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading, Forex Trading, Futures Trading, Crypto Trading, Robo Advisor are provided by Saxo Bank. Concerning the platforms, Merrill Edge uses Web Platform, Android App, iOS App, while Saxo Bank uses Desktop Platform (Windows), Desktop Platform (MacOS), 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. Merrill Edge was established in 2010 in USA, and it is regulated by SEC, FINRA. And Saxo Bank was established in 1992 in Denmark, and it is regulated by FCA, FSA, DFSA, ASIC, FSC. We can withdraw funds from Merrill Edge with the help of Bank Wire, Visa/Mastercard, and its withdrawal fee is $0 (Visa Debit Card). And Saxo Bank provides the ability to withdraw funds with the help of Bank Wire, and its withdrawal fee is 0. The time for withdrawal in Merrill Edge is immediate (Bank Wire), and that one in Saxo Bank is 1-2 business days.
Overall, Merrill Edge boasts 4.1 stars versus Saxo Bank 4.1 stars.