Ellevest
merrill edge
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Overview
Ellevest was founded in 2008 and is headquartered in USA, while merrill edge was established in 2010 and is based in USA. Ellevest holds licences including Unregulated, while merrill edge is regulated by Financial Conduct Authority (FCA) among others. Ellevest serves 10,000+ clients worldwide; merrill edge has 10,000+. The minimum deposit is $1 at Ellevest and $250 at merrill edge.
| Feature | Ellevest | merrill edge |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Regulation | Unregulated | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F277 |
| Founded | 2008 | 2010 |
| Country | USA | USA |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Ellevest and merrill edge, directly affecting your bottom line as a trader. Ellevest has a lower barrier to entry with a minimum deposit of $1 (vs $250 at merrill edge). Ellevest charges withdrawal fees while merrill edge does not, a notable advantage for frequent withdrawers. Ellevest applies inactivity fees on dormant accounts; merrill edge does not. Ellevest charges deposit fees; merrill edge does not. Overall, Ellevest scores higher on fees in our assessment.
| Feature | Ellevest | merrill edge |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
Ellevest offers MT4, MT5, cTrader, while merrill edge supports MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. merrill edge supports social and copy trading features, which Ellevest does not offer. Ellevest edges ahead on platform breadth and functionality in our scoring.
| Feature | Ellevest | merrill edge |
|---|---|---|
| MT4 | Yes | No |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Windows, Android, Mac OS, iOS | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Ellevest and merrill edge compare. Both provide video tutorials. Both integrate third-party research tools. The two brokers are evenly matched on educational content.
| Feature | Ellevest | merrill edge |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | No | No |
| Weekly Webinars | No | No |
| Daily Commentary | No | No |
| Trading Central | No | No |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Ellevest accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while merrill edge supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). merrill edge uniquely supports PayPal and Skrill and Neteller among the two brokers. merrill edge scores higher on deposit and withdrawal flexibility.
| Feature | Ellevest | merrill edge |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Ellevest and merrill edge offer live chat support. Both provide phone support. Email support is available at both brokers. Ellevest supports 2 languages and merrill edge supports 8, giving merrill edge broader global reach. Both brokers are comparable on support quality.
| Feature | Ellevest | merrill edge |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |