About 100 protesters gathered outside the Liverpool Arena and Convention Centre (ACC) ahead of a two-day conference on military arms technology.
The annual AOC Europe event had to be postponed last year because of the coronavirus pandemic.
Police said security at the waterfront had been tightened and there had been six arrests, two on suspicion of conspiracy to commit criminal damage.
Organisers said no arms were being sold at the conference.
In September, former Labour leader Jeremy Corbyn and actress Maxine Peake joined thousands of protesters calling for the event to be cancelled.
'Very angry'
Gary Waterfall, defence advisor to Clarion Events who are organising the fair, said: "There are no arms being sold whatsoever.
"It's not about a sales show, this is about sharing ideas, innovation and technology.
"I think it's really important to recognise the defence industry - across all industries in the UK - is the highest regulated industry that's out there, so actually anybody who's come here to exhibit has passed all of the strict guidelines and processes that are in place."
But protester Greg Dropkin said the council should still have called the event off.
"The people of Liverpool are very angry about this and that's why 3,000 people marched through the city just a couple of weeks ago and there've been other demonstrations," he said.
"But so far the council seems to believe that 'businesses as usual' should take priority."
At the scene
By Lindsey Prosser, BBC North West Tonight
Protesters are gathered at the entrance to the Kings Dock, having placed their banners against the railings and walls.
Police vans are parked close by as officers monitor the protest.
Merseyside Police have introduced a dispersal zone on the Liverpool Waterfront in response to reports of plans to commit criminal damage in the area during the convention this week.
It means officers can ask people who are they suspect are causing or likely to cause a nuisance or anti-social behaviour or commit a crime, to leave the area and not return for up to 48 hours.
While the ACC is owned by Liverpool City Council, Mayor Joanne Anderson previously said the authority was powerless to intervene.
In a statement, she said she had tried legal avenues to cancel the event but these had failed.
On Monday morning, a 46-year-old woman from Liverpool and a 31-year-old man of no fixed address were arrested on suspicion of conspiracy to commit criminal damage.
They were questioned by police after being held at the Pullman Hotel before being released on police bail.
On Monday evening following reports that paint had been sprayed on stone arches on Wapping Dock, a man and woman were arrested on suspicion of causing criminal damage.
During the protest march earlier, officers arrested a 46-year-old woman from New Brighton and a 22-year-old man from Liverpool for public order offences and obstructing a police officer.
Ch Supt Zoe Thornton said: "We have a duty to facilitate peaceful and lawful protest, but will not tolerate acts of criminality and - as in this case - will deal robustly with anyone whose behaviour is suspected to pose a threat to the safety of others."
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