Brokers comparison: DotBig vs Merrill Edge
Looking for a legit broker to start online trading? Both DotBig and Merrill Edge meet this requirement – these are well-established companies that have loyal bases of clients. But which one is better in 2022? Below, we’ve tried to briefly display everything we find informative about the brokers so that you could make your best choice.
|Minimum deposit||$250||up to $600 for making investments in Merrill Edge|
|Bonus||10% welcome bonus||none|
|Year of foundation||2003||2010|
|Tradable instruments||● Currency pairs |
|● Stocks |
● Mutual funds
|Platforms||MT5, DotBig Web, Mobile||Mobile, Merrill Edge MarketPro|
|Payment services||● Bank transfer |
Comparison of Brokers’ Commissions
Often, when you trade online, you need to pay not only for assets but for the possibility to use broker’s services. This might be represented in a form of charging account or trading fees. Account fees are funds you pay to activate your profile, close deals, fund, withdraw profits, etc.
Merrill Edge is one of the brokers that charges almost no account fees. The only additional money that clients need to pay is a $49.95 commission for making a withdrawal of the whole amount. Some services also charge fees for partial transfers. But on Merrill Edge, there’s even no minimum deposit – you may trade with just $1.
Merrill Edge doesn’t charge money for trading shares on stock markets but imposes $0.65 per contract on options deals.
From the perspective of paying commissions, DotBig is a more costly broker. It doesn’t charge trading fees because they are included in spreads of financial products, but it does charge account fees, including.
- a $250 minimum deposit for a Standard account;
- a 3.5% commission for withdrawal;
- a €35 commission bank transfers;
- inactivity fees;
Broker Comparison: Trading Conditions
In any comparison of online brokers, conditions play a vital role.
|DotBig LTD||Merrill Edge|
|Currency pairs||Trade 72 currency pairs with an average spread of 1.2 pips||–|
|Stocks||244 stocks of international companies are listed here, with the spread falling as low as 0.67 pips||Offers many securities, including penny stock and those that were listed on ETB|
|Bonds||–||Lists the assets of corporations alongside municipal and treasury bonds.|
|Cryptocurrencies||The possibility to invest in over 650 cryptocurrencies, including the most popular ones such as BTC, ETH, LTC, ADA, etc.||–|
|Commodities||6 commodities with the 1:100 leverage||–|
|Indices||13 indices with a 1:100 leverage and average spread of 2.25 pips||–|
|ETFs||Free ETF trades with 20 assets listed||Free ETF trades|
|CFDs||The possibility to invest in CFD assets||–|
|Mutual Funds||–||More than 3,000 non-transaction-fee mutual funds|
|Options||–||The broker lists both single leg and two-leg options and charges a $0.65 per contract commission|
If you prefer traditional forex trading, you are better to choose DotBig LTD because as you can see, Merrill Edge doesn’t have fiat currency pairs.
Both brokerages have basic orders and provide fast execution. Merrill Edge, for example, performs the execution of orders with an average speed of 0.019 seconds.
Broker Comparison: Platforms and Tools
Merrill Edge MarketPro is praised for simplicity and understandable navigation. Here, traders may use different research instruments such as charts, ratings, and reports. All the information for research and analyses is provided from the most reputable sources such as Bank of America and The New York Times.
DotBig gives its clients the possibility to trade via a web platform, MetaTrader5 or Mobile Platform. DotBig LTD is mostly known for its accurate trading signals. These are special robots that help benefit from forex trading and literary make it automated. DotBig Web is an original trading platform that features intuitive navigation and a number of charts, live quotes, and indicators. Unfortunately, DotBig doesn’t provide news on its platforms and the website, you have to look for them on the social media of the broker.
Which Broker is Better Overall?
Both DotBig and Merrill Edge have their advantages:
|Advantages||● many financial instruments |
● advanced advisors
● social trading available
● complete training resources for beginners
|● integrated with Bank of America |
● additional perks for clients with bigger budgets
● advanced third-party research
● no minimum deposit required
On the whole, DotBig LTD is a better choice for traders in 2022. It offers a more extensive range of tradable products and suits better beginners. To the credits of Merrill Edge, it’s also a good company, with which traders can benefit from free stock and ETF trades.