merrill edge
Saxo Markets
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Overview
merrill edge was founded in 2010 and is headquartered in USA, while Saxo Markets was established in 2012 and is based in Denmark. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. merrill edge serves 10,000+ clients worldwide; Saxo Markets has 10,000+. The minimum deposit is $250 at merrill edge and $6500 at Saxo Markets.
| Feature | merrill edge | Saxo Markets |
|---|---|---|
| Min. Deposit | $250 | $6500 |
| 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-F277 | Financial Conduct Authority (FCA) |
| Founded | 2010 | 2012 |
| Country | USA | Denmark |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between merrill edge and Saxo Markets, directly affecting your bottom line as a trader. merrill edge has a lower barrier to entry with a minimum deposit of $250 (vs $6500 at Saxo Markets). Saxo Markets charges withdrawal fees while merrill edge does not, giving merrill edge an edge for frequent withdrawers. Saxo Markets applies inactivity fees on dormant accounts; merrill edge does not. Overall, merrill edge scores higher on fees in our assessment.
| Feature | merrill edge | Saxo Markets |
|---|---|---|
| Min. Deposit | $250 | $6500 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
merrill edge offers MT5, cTrader, while Saxo Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. Saxo Markets edges ahead on platform breadth and functionality in our scoring.
| Feature | merrill edge | Saxo Markets |
|---|---|---|
| MT4 | No | Yes |
| 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 | Mac, Web Trader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how merrill edge and Saxo Markets compare. Both provide video tutorials. Both integrate third-party research tools. The two brokers are evenly matched on educational content.
| Feature | merrill edge | Saxo Markets |
|---|---|---|
| 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. merrill edge accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while Saxo Markets supports 2 (bank transfer, credit/debit card). merrill edge uniquely supports PayPal and Skrill and Neteller among the two brokers. merrill edge scores higher on deposit and withdrawal flexibility.
| Feature | merrill edge | Saxo Markets |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| Neteller | Yes | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both merrill edge and Saxo Markets offer live chat support. Both provide phone support. Email support is available at both brokers. merrill edge supports 8 languages and Saxo Markets supports 2, giving merrill edge broader global reach. Both brokers are comparable on support quality.
| Feature | merrill edge | Saxo Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | English, and Chinese |