fx private
merrill edge
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Overview
fx private was founded in 2020 and is headquartered in USA, while merrill edge was established in 2010 and is based in USA. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. fx private serves 12,000,000+ clients worldwide; merrill edge has 10,000+. Both brokers share the same minimum deposit of $250.
| Feature | fx private | merrill edge |
|---|---|---|
| Min. Deposit | $250 | $250 |
| Regulation | 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-F239 | 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 | 2020 | 2010 |
| Country | USA | USA |
| Clients | 12,000,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between fx private and merrill edge, directly affecting your bottom line as a trader. Both require a minimum deposit of $250. fx private charges withdrawal fees while merrill edge does not, a notable advantage for frequent withdrawers. Overall, merrill edge scores higher on fees in our assessment.
| Feature | fx private | merrill edge |
|---|---|---|
| Min. Deposit | $250 | $250 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
fx private offers 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 fx private does not offer. The two brokers are closely matched on platform offering.
| Feature | fx private | merrill edge |
|---|---|---|
| MT4 | No | No |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | 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 fx private and merrill edge compare. Both provide video tutorials. Both integrate third-party research tools. The two brokers are evenly matched on educational content.
| Feature | fx private | 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. fx private accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while merrill edge supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). Both brokers support the same set of payment methods.
| Feature | fx private | merrill edge |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | Yes | Yes |
| Neteller | Yes | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both fx private and merrill edge offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 8 languages. Both brokers are comparable on support quality.
| Feature | fx private | merrill edge |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |