First Trade
merrill edge
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
First Trade was founded in 2008 and is headquartered in USA, while merrill edge was established in 2010 and is based in USA. First Trade holds licences including Securities and Exchange Commission (SEC), while merrill edge is regulated by Financial Conduct Authority (FCA) among others. First Trade serves 10,000+ clients worldwide; merrill edge has 10,000+. The minimum deposit is $5 at First Trade and $250 at merrill edge.
| Feature | First Trade | merrill edge |
|---|---|---|
| Min. Deposit | $5 | $250 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | 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 First Trade and merrill edge, directly affecting your bottom line as a trader. merrill edge has a lower barrier to entry with a minimum deposit of $250 (vs $5 at First Trade). First Trade charges withdrawal fees while merrill edge does not, a notable advantage for frequent withdrawers. First Trade charges deposit fees; merrill edge does not. Overall, First Trade scores higher on fees in our assessment.
| Feature | First Trade | merrill edge |
|---|---|---|
| Min. Deposit | $5 | $250 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
First Trade 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 First Trade does not offer. First Trade edges ahead on platform breadth and functionality in our scoring.
| Feature | First Trade | 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,WEB | 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 First Trade and merrill edge compare. First Trade runs regular live webinars; merrill edge does not. Both provide video tutorials. First Trade publishes daily market commentary; merrill edge does not. Both integrate third-party research tools. First Trade maintains an archive of past webinars for on-demand viewing. First Trade scores higher overall in education and research.
| Feature | First Trade | merrill edge |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. First Trade 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 | First Trade | 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 First Trade and merrill edge offer live chat support. Both provide phone support. Email support is available at both brokers. First Trade supports 2 languages and merrill edge supports 8, giving merrill edge broader global reach. Both brokers are comparable on support quality.
| Feature | First Trade | 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 |