merrill edge
XM
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
merrill edge was founded in 2010 and is headquartered in USA, while XM was established in 2009 and is based in Cyprus. merrill edge holds licences including Financial Conduct Authority (FCA), while XM is regulated by International Financial Services Commission(IFSC) among others. merrill edge serves 10,000+ clients worldwide; XM has 3,500,000+. The minimum deposit is $250 at merrill edge and $5 at XM.
| Feature | merrill edge | XM |
|---|---|---|
| Min. Deposit | $250 | $5 |
| 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 | International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) |
| Founded | 2010 | 2009 |
| Country | USA | Cyprus |
| Clients | 10,000+ | 3,500,000+ |
Fees
Fees are a critical factor when choosing between merrill edge and XM, 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 XM). Neither broker charges withdrawal fees. XM applies inactivity fees on dormant accounts; merrill edge does not. Overall, XM scores higher on fees in our assessment.
| Feature | merrill edge | XM |
|---|---|---|
| Min. Deposit | $250 | $5 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
merrill edge offers MT5, cTrader, while XM 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. XM edges ahead on platform breadth and functionality in our scoring.
| Feature | merrill edge | XM |
|---|---|---|
| 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, 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 XM compare. XM runs regular live webinars; merrill edge does not. Both provide video tutorials. XM publishes daily market commentary; merrill edge does not. Both integrate third-party research tools. XM maintains an archive of past webinars for on-demand viewing. XM scores higher overall in education and research.
| Feature | merrill edge | XM |
|---|---|---|
| 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 XM supports 3 (bank transfer, credit/debit card, Neteller). merrill edge uniquely supports PayPal and Skrill among the two brokers. merrill edge scores higher on deposit and withdrawal flexibility.
| Feature | merrill edge | XM |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| 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 XM offer live chat support. Both provide phone support. Email support is available at both brokers. merrill edge supports 8 languages and XM supports 20, giving XM broader global reach. Both brokers are comparable on support quality.
| Feature | merrill edge | XM |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish |