Phillip Nova
Merrill Edge
VS
Higher Rated
Phillip Nova
Capital at risk · T&Cs apply
Choosing between Phillip Nova and Merrill Edge depends on your trading style, preferred markets, and budget. Phillip Nova is headquartered in Singapore, while Merrill Edge operates from Charlotte, USA. Phillip Nova has the longer track record, established in 2005, compared to Merrill Edge which was founded in 2010. This in-depth comparison covers regulation, fees, platforms, markets, and overall ratings to help you decide which broker is the better fit in 2026.
Phillip Nova
Merrill Edge
Phillip Nova is the better choice overall, scoring 3.4/5 vs 3.2/5 on BrokerRank's independent rating. On fees, Merrill Edge offers lower spreads (0 pips).
See full side-by-side comparison belowOverall Rating
Phillip Nova
3.4 vs 3.2
Lowest Fees
Merrill Edge
0.6 vs 0 pips
Regulation
Tied
1 vs 1 licences
Min. Deposit
Tied
$0 vs $0
Phillip Nova
Merrill Edge
Phillip Nova
Merrill Edge
Lower feesPhillip Nova holds licences from MAS. Merrill Edge is regulated by SEC.
Both brokers offer access to Indices markets. Phillip Nova additionally covers Forex, Cfd, Commodities, Crypto. Merrill Edge adds Stocks.
On spreads, Merrill Edge is more competitive with EUR/USD spreads from 0.0 pips, compared to 0.6 pips at Phillip Nova.
Phillip Nova supports Proprietary Web, Proprietary Mobile, POEMS. Merrill Edge offers Proprietary Web, Proprietary Mobile. Both brokers are available on Proprietary Web, Proprietary Mobile.
Phillip Nova requires no minimum deposit, while Merrill Edge sets no minimum deposit. This makes Phillip Nova accessible to traders with any budget.
BrokerRank scores Phillip Nova at 3.39/5 and Merrill Edge at 3.19/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. Phillip Nova leads overall with a clear advantage.
Phillip Nova scores higher overall on our independent rating system. Phillip Nova holds a 3.4/5 rating vs Merrill Edge's 3.2/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
Phillip Nova offers spreads from 0.6 pips, while Merrill Edge starts at 0 pips. Check the fees section above for a full breakdown.
Phillip Nova requires a minimum deposit of $0. Merrill Edge requires $0.
Phillip Nova is regulated by MAS, while Merrill Edge holds licences from SEC.
Phillip Nova supports Proprietary Web, Proprietary Mobile, POEMS. Merrill Edge supports Proprietary Web, Proprietary Mobile.
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.