Merrill Edge vs WeBull Comparison: Fees, Features, and More (2026)

Merrill Edge and WeBull are two leading discount brokerages offering commission-free stock and ETF trading. Use this head-to-head comparison table to evaluate fees, features, trading tools, and account options to help you decide which broker is right for you in 2026.

Head-to-Head Comparison: Merrill Edge vs WeBull (2026)
Feature Merrill Edge WeBull
Website https://www.merrilledge.com/ https://www.webull.com/
Broker Type Self-directed discount/online brokerage Discount
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 online commissions (ETF sales $0.01–$0.03 per $1,000 principal) $0 commission; regulatory fees may apply
Fractional Shares? No Yes; eligible U.S. stocks and ETFs
Percent Allocations? No Yes; Portfolio Blueprint
Crypto Trading? No Yes
Crypto Fees N/A 1% spread (stablecoins exempt)
Options Trading? Yes Yes
Options Fee $0 + $0.65 per contract online; $0 exercise/assignment. Broker-assisted extra. $0; $0.50/contract for certain index options
Bond Trading Available? Yes Yes; U.S. Treasury and corporate bonds
Receives payment for order flow (PFOF)? No; limited options-exchange payments Yes
Interface: Web trading? Yes Yes
Desktop trading? No (MarketPro is browser-based, not a downloadable desktop app) Yes; Webull Desktop
API Trading? No (no public retail trading API) Yes; Webull Open API
Mutual Funds: Offered? Yes Yes
Total Mutual Funds Thousands Not publicly stated; availability varies
NTF Mutual Funds Many NTF (exact count unpublished) None stated; money-market funds exempt
Non-NTF Fund Fee $19.95 per online transaction (buys, sells, exchanges) for no-load TF funds Lesser of 3% or $14.95
Early Redemption Fee? No ($39.95 short-term redemption fee on NTF funds held <90 days) Yes; no short-term redemption-fee funds currently
Redemption Hold (Days) 90 days (NTF funds) None currently
Early Redemption Fee $39.95 (NTF funds held <90 days) None from Webull; fund-specific terms may apply
Accounts: Margin Accounts? Yes Yes
IRAs Offered? Yes (Traditional, Roth, SEP) Yes; Traditional, Roth, and Rollover
HSAs Offered? Yes (Individual HSA) No
Money Market Sweep? Yes Yes; Webull Cash Management FDIC bank sweep
CDs Offered? Yes (brokered CDs) No
Robo-Advisor: Offered Yes Yes
Robo-Advisor Service Merrill Guided Investing Webull Advisors
Robo-Advisor Fees 0.45% AUM online; 0.85% with advisor (monthly in advance). Preferred Rewards discounts 0.05-0.15%. Fund expenses extra. 0.15%-0.30% annually (0.20% diversified example)
Basics: Headquarters New York, NY St. Petersburg, FL
Year Founded 2010 2017
Clearing Firm Merrill Lynch, Pierce, Fenner & Smith Inc. (self-clearing) Apex Clearing Corporation
Local Branches? Yes (~3,530 Bank of America financial centers, U.S., as of Q2 2026) No; corporate offices only
New Account Minimum $0 (self-directed) $0

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