Finmax
merrill edge
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Overview
Finmax was founded in 2008 and is headquartered in Bulgaria, while merrill edge was established in 2010 and is based in USA. Finmax holds licences including Financial Services Authority (FSA), while merrill edge is regulated by Financial Conduct Authority (FCA) among others. Finmax serves 10,000+ clients worldwide; merrill edge has 10,000+. The minimum deposit is $0 at Finmax and $250 at merrill edge.
| Feature | Finmax | merrill edge |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Regulation | Financial Services Authority (FSA) | 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 | Bulgaria | USA |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between Finmax and merrill edge, directly affecting your bottom line as a trader. Finmax has a lower barrier to entry with a minimum deposit of $0 (vs $250 at merrill edge). Neither broker charges withdrawal fees. Finmax applies inactivity fees on dormant accounts; merrill edge does not. Overall, Finmax scores higher on fees in our assessment.
| Feature | Finmax | merrill edge |
|---|---|---|
| Min. Deposit | $0 | $250 |
| Withdrawal Fees | No | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Finmax 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 Finmax does not offer. Finmax edges ahead on platform breadth and functionality in our scoring.
| Feature | Finmax | 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 | MT4,MT5 | 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 Finmax and merrill edge compare. merrill edge has a video library; Finmax does not. merrill edge integrates third-party research tools (Autochartist); Finmax does not. merrill edge scores higher overall in education and research.
| Feature | Finmax | merrill edge |
|---|---|---|
| Forex Education | No | Yes |
| CFD Education | No | No |
| Weekly Webinars | No | No |
| Daily Commentary | No | No |
| Trading Central | No | No |
| Autochartist | No | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Finmax 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 | Finmax | 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 Finmax and merrill edge offer live chat support. Both provide phone support. Email support is available at both brokers. Finmax supports 2 languages and merrill edge supports 8, giving merrill edge broader global reach. Both brokers are comparable on support quality.
| Feature | Finmax | 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 |