merrill edge
sogotrade
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Overview
merrill edge was founded in 2010 and is headquartered in USA, while sogotrade was established in 2016 and is based in USA. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. merrill edge serves 10,000+ clients worldwide; sogotrade has 1,000,000+. Both brokers share the same minimum deposit of $250.
| Feature | merrill edge | sogotrade |
|---|---|---|
| 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-F277 | 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-F307 |
| Founded | 2010 | 2016 |
| Country | USA | USA |
| Clients | 10,000+ | 1,000,000+ |
Fees
Fees are a critical factor when choosing between merrill edge and sogotrade, directly affecting your bottom line as a trader. Both require a minimum deposit of $250. sogotrade charges withdrawal fees while merrill edge does not, giving merrill edge an edge for frequent withdrawers. sogotrade applies inactivity fees on dormant accounts; merrill edge does not. Overall, merrill edge scores higher on fees in our assessment.
| Feature | merrill edge | sogotrade |
|---|---|---|
| Min. Deposit | $250 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
merrill edge offers MT5, cTrader, while sogotrade supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. merrill edge supports social and copy trading features, which sogotrade does not offer. sogotrade edges ahead on platform breadth and functionality in our scoring.
| Feature | merrill edge | sogotrade |
|---|---|---|
| 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 | 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 merrill edge and sogotrade compare. sogotrade runs regular live webinars; merrill edge does not. Both provide video tutorials. sogotrade publishes daily market commentary; merrill edge does not. Both integrate third-party research tools. sogotrade maintains an archive of past webinars for on-demand viewing. sogotrade scores higher overall in education and research.
| Feature | merrill edge | sogotrade |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | Yes | No |
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 sogotrade supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). Both brokers support the same set of payment methods.
| Feature | merrill edge | sogotrade |
|---|---|---|
| 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 merrill edge and sogotrade 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 | merrill edge | sogotrade |
|---|---|---|
| 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 |