Voldemort has some pretty powerful spells at his disposal, but I have to question just how effective they will be against Melkor. Melkor is a sorcerer as well and his armor is quite durable. One hit from Melkor’s axe would surely defeat Voldemort although one spell should have a similar effect if it can get past Melkor’s armor. I have to question whether the spells can in fact do this and thus, I give Melkor the edge here. He can charge into the fray and quickly press his advantage. Melkor wins.