merrill edge
Westpac
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Overview
merrill edge was founded in 2010 and is headquartered in USA, while Westpac was established in 2008 and is based in Austrailia. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. merrill edge serves 10,000+ clients worldwide; Westpac has 10,000+. The minimum deposit is $250 at merrill edge and $50 at Westpac.
| Feature | merrill edge | Westpac |
|---|---|---|
| Min. Deposit | $250 | $50 |
| 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), Prudential Regulation Authority (PRA) |
| Founded | 2010 | 2008 |
| Country | USA | Austrailia |
| Clients | 10,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between merrill edge and Westpac, directly affecting your bottom line as a trader. merrill edge has a lower barrier to entry with a minimum deposit of $250 (vs $50 at Westpac). Neither broker charges withdrawal fees. Westpac charges deposit fees; merrill edge does not. Overall, Westpac scores higher on fees in our assessment.
| Feature | merrill edge | Westpac |
|---|---|---|
| Min. Deposit | $250 | $50 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
merrill edge offers MT5, cTrader, while Westpac 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. Westpac edges ahead on platform breadth and functionality in our scoring.
| Feature | merrill edge | Westpac |
|---|---|---|
| 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 | Desktop,Mac,iPhone,Android,WEB |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how merrill edge and Westpac compare. Westpac runs regular live webinars; merrill edge does not. Both provide video tutorials. Westpac publishes daily market commentary; merrill edge does not. Both integrate third-party research tools. Westpac maintains an archive of past webinars for on-demand viewing. Westpac scores higher overall in education and research.
| Feature | merrill edge | Westpac |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| 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 Westpac 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 | Westpac |
|---|---|---|
| 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 Westpac offer live chat support. Both provide phone support. Email support is available at both brokers. merrill edge supports 8 languages and Westpac supports 2, giving merrill edge broader global reach. Both brokers are comparable on support quality.
| Feature | merrill edge | Westpac |
|---|---|---|
| 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 |