Updated September 29, 2026 · SumCue Editorial Team
Merrill Edge vs Openbank
Merrill Edge
Higher score in this comparison
Openbank
What sets them apart
| Compare | Merrill EdgeReviewSee alternativesSee alternatives | OpenbankReviewSee alternativesSee alternatives |
|---|---|---|
| Minimum deposit | $0 | €1 |
| Stock trade fee | $0 | €1 |
| Account fee | $0 | €0 |
| Markets | Stocks, ETFs, Options, Bonds, Funds | Stocks, ETFs, Funds, Crypto, Bonds |
| Regulators | FINRA, SEC | Comision Nacional del Mercado de Valores (CNMV) |
| Investor protection | SIPC up to USD 500,000 | EU ICS up to EUR 20,000 |
| Platforms | Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app | Web, App |
| Inactivity fee | $0 | Not confirmed |
| Currency conversion fee | Not confirmed | 0% |
| Options contract fee | $0.65 | Not confirmed |
| Deposit and withdrawal fees | Not confirmed | free transfers |
| Account types | IRA, Roth IRA, Joint, Corporate | Not confirmed |
| Interest on cash | Not confirmed | 2.75% |
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.
Key differences
- Regulators: only Merrill Edge offers FINRA, SEC.
- Regulators: only Openbank offers Comision Nacional del Mercado de Valores (CNMV).
- Founded is lower at Merrill Edge: 1914 vs 1995.
- Markets: only Merrill Edge offers Options.
- Markets: only Openbank offers Crypto.
- Platforms: only Merrill Edge offers Merrill Edge website, Merrill Edge MarketPro, Merrill mobile app.
- Platforms: only Openbank offers Web, App.
- Features: only Merrill Edge offers Fractional shares, Demo account, Mobile app.
- Features: only Openbank offers Travel, Multi currency.
- Pricing model: only Merrill Edge offers Commission free.
Our verdict on each
Merrill Edge
Merrill Edge suits people who want to trade US stocks and ETFs with no commission and no monthly charge. It suits beginners and experienced investors who want a retirement, joint or corporate account, and the minimum deposit is $0 with a stock trade fee of $0.
Openbank
Openbank runs a Spanish current account, an easy-access savings pot paying 2.75% and a Mastercard debit card from one app. It suits savers who want interest paid monthly with no lock-in, and households that want everyday banking and card spending in one place.
Score breakdown
| Area | Merrill Edge | Openbank |
|---|---|---|
| Cost | 9.3Account fee $0, inactivity fee $0 and stock trade fee $0 are the lowest we rank. | 9.4HigherMonthly fee €0, account fee €0 and stock trade fee €1 keep the running cost light. |
| Offer | 9.6 | 9.9Higher |
| Trust | 9.7Higher | 9.2 |
Pick Merrill Edge if, pick Openbank if
Pick Merrill Edge if trust matter most.
Pick Openbank if offer matter most.
What we checked
Merrill Edge
- merrilledge.com: 16 facts, checked September 26, 2026
- en.wikipedia.org: 1 fact, checked September 26, 2026
Openbank
- openbank.es: 11 facts, checked September 26, 2026
- esma.europa.eu: 4 facts, checked September 26, 2026
- financeads.com: 1 fact, checked September 26, 2026
How they place
| Ranking | Merrill Edge | Openbank |
|---|---|---|
| Investing | 66 of 654 | 70 of 654 |
| Stock and ETF brokers | 41 of 358 | 43 of 358 |
| Robo-advisors | 12 of 154 | 15 of 154 |
Every fact side by side
| Fact | Merrill Edge | Openbank |
|---|---|---|
| Features | Fractional shares, Demo account, Mobile app, Options | Travel, Multi currency |
| Pricing model | Commission free | No annual fee |
| Audience | Beginners, Experienced | Not confirmed |
| Legal entity | Merrill Lynch, Pierce, Fenner and Smith Incorporated | OPEN BANK S.A. |
| Headquarters | United States | Spain |
| Founded | 1914Lower | 1995 |
| Support channels | Phone, Chat, Help centre, Email | Phone, Chat, Email, Help centre |
Robo-advisors
| Fact | Merrill Edge | Openbank |
|---|---|---|
| Management fee | 0.45% to 0.85% | 0.42% to 1.03%Lower |
| Minimum investment | $0 to $1,000 | €500 |
| Portfolio types | ETF | ESG |
Savings
| Fact | Merrill Edge | Openbank |
|---|---|---|
| Headline rate | Not confirmed | 2.75% |
| Rate type | Not confirmed | Variable |
| Deposit protection | Not confirmed | EU DGS up to EUR 100,000 |
| Access terms | Not confirmed | Interest paid monthly; money withdrawable at any time in full or in part including accrued interest; free immediate transfers between the current and remunerated account |
| Monthly fee | Not confirmed | €0 |
| Account kind | Not confirmed | Easy access |
Credit cards
| Fact | Merrill Edge | Openbank |
|---|---|---|
| Annual fee | Not confirmed | €0 |
| APR | Not confirmed | 0% |
| Rewards type | Not confirmed | None |
| Card kind | Not confirmed | Credit |
Loans
| Fact | Merrill Edge | Openbank |
|---|---|---|
| Lender type | Not confirmed | Direct lender |
Where each stands against the rest
| Fact | Merrill Edge | Openbank | Median |
|---|---|---|---|
| Inactivity fee | $0at the median | Not confirmed | $0 |
| Currency conversion fee | Not confirmed | 0%below the median | 0.4% |
| Options contract fee | $0.65at the median | Not confirmed | $0.65 |
| Interest on cash | Not confirmed | 2.75%below the median | 2.875% |
Median across 77 listed providers.
Pros and cons
Merrill Edge
Pros
- Stock trades cost $0 and the account fee is $0.
- Nothing is charged for inactivity, at $0, and the minimum deposit is $0.
- Fractional shares, a demo account, a mobile app and options are all available.
Cons
- Options carry a fee of $0.65, so the commission-free deal stops at derivatives.
- The advisory side adds a management fee of 0.45% to 0.85% and a minimum investment of $0 to $1,000.
- Most retail accounts lose money, 72.05% on this ranking, so low charges say nothing about how the portfolio performs.
Openbank
Pros
- Interest is credited monthly, and money is withdrawable at any time in full or in part, accrued interest included
- Transfers between the current and remunerated account are free and immediate, and the card runs on mastercard
- The Mastercard debit card carries a currency conversion fee of 0% with a multi-currency feature for travel
Cons
- The headline rate of 2.75% sits below the site median, which stands at 3%
- The credit card has a rewards type of none, so nothing comes back on card spending
- The robo adviser takes a management fee of 0.42% to 1.03% and needs a minimum investment of €500
Who each suits
Merrill Edge
Who it suits
- First-time US share buyers using fractional shares and a demo account.
- Experienced investors who want options and a mobile app in one place.
- Anyone saving into an IRA, Roth IRA, joint or corporate account.
Who should look elsewhere
- Traders after forex, CFDs or crypto: CFI covers stocks, etfs and forex.
- Savers wanting a bank balance, since bunq personal plans start from a minimum deposit of €10.
- Borrowing rather than investing, as Fiesta Credito MX answers to CONDUSEF.
Openbank
Who it suits
- Savers who want interest paid monthly and no fixed term
- Households that want a current account, a savings pot and a card in one app
- Travellers who want a multi-currency card
Who should look elsewhere
- Wise, if a multi-currency account with a monthly fee of £0 matters more than deposit interest
- Starling Personal Account Debit Card, which charges a monthly fee of £0, if a UK current account fits better
- Varo Believe Secured Credit Card, which has a monthly fee of $0, if building a credit record is the aim
Current offers
Merrill Edge
Current offer
First period offer
$0 program fee for 6 months - Merrill Guided Investing: $0 for 6 months
New enrollments, use offer code 6FREE
Source, checked September 26, 2026
Country by country
| Country | Merrill Edge | Openbank |
|---|---|---|
| Spain | No | Yes |
| United States | Yes | No |
Questions about each
Merrill Edge
What does it cost to hold a Merrill Edge account?+
The account fee is $0 and the inactivity fee is $0, so there is no monthly charge for keeping the account open. Costs appear in the products you pick, such as the options fee of $0.65, rather than in the account itself.
Is stock trading really commission free?+
Stock trades carry a fee of $0 and the pricing model is commission-free, so buying shares and ETFs in the usual way adds nothing per trade. Options are charged at $0.65, and the spread you receive can still widen as prices move.
Openbank
What does it cost to hold the account?+
Openbank charges a monthly fee of €0 and a credit card annual fee of €0. Transfers between the current and the remunerated account are free and immediate, and a stock trade costs €1, so everyday banking adds very little.
How much interest do I earn?+
The easy-access account pays a headline rate of 2.75%, credited monthly, and the rate type is variable. The site median stands at 3%, so the offer sits in the middle of the market rather than at either end.
Other options to compare
Other matchups
Merrill Edge
Openbank