Merrill Edge - New Account Offer
Merrill Edge Review
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Likes
Merrill Edge accounts linkable to any Bank of America account; up to 30 free trades per month with $25,000 minimum balance; great customer support.
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Dislikes
Advanced order types not supported; expensive fees for early sale of any mutual fund; limited educational resources.
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Bottom Line
For customers of Bank of America seeking an easy way to invest in the market, Merrill Edge is a good solution.
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Ideal Client
Bank of America clients looking for an easy way to invest in the stock market.
Our Merrill Edge review provides trade platform screenshots, detailed commissions information, and online broker ratings. Please note - Merrill Edge chose not to be included in our 2013 Online Broker Review and thus does not have any star ratings.
Compare Merrill Edge to Key Competitors
Trade Commissions Breakdown
| $6.95 | Flat-Fee Trade Plan* |
|---|---|
| N/A | Per-Share Trade Plan |
| $6.95 | Options Base Trade Fee* |
| $0.75 | Options Contract* |
| N/A | Options Exercise Fee |
| N/A | Options Assignment Fee |
| $39.95 | Mutual Fund Trade Fee |
| $44.95 | Broker Assisted Trade Fee |
| $2,000.00 | Minimum Deposit |
Miscellaneous Fees
| N/A | Bond Trade Fee |
|---|---|
| N/A | Treasury Trade Fee |
| N/A | Certificate of Deposit (CD) Trade Fee |
| N/A | Interactive Voice Response (IVR) Phone Trade Fee |
| N/A | IRA Annual Fee |
| N/A | IRA Closure Fee |
| N/A | Forced-Margin Sellout Fee |
| N/A | Returned ACH Fee |
| N/A | Returned Wire Transfer Fee |
| N/A | Stock Certificate Processing Fee |
| N/A | Stock Certificate Delivery Fee |
| N/A | Paper Statement Fee |
| N/A | Paper Confirmation Fee |
| N/A | Outgoing Domestic Wire Transfer Fee |
| N/A | Outgoing International Wire Transfer Fee |
Commission Notes
Merrill Edge commissions structure details below.Stock Trades - Flat rate $6.95. Receive up to 30 free trades per month with an account balance of atleast $25,000. After hours trades are supported but trailing stops and contingent orders (advanced order types) are not.
Options Trades - $6.95 + $.75 per contract.
Mutual Funds - $44.95 per trade. Any sale within 90 days of purchase is subject to a 0.75% gross proceeds fee ($50 minimum, $250 maximum).
International Trading - International Trading not currently offered.
Other Investments - Merrill Edge does not support futures and forex.
Merrill Edge was reviewed by Blain Reinkensmeyer on 2013-02-19.
Misc. Account Information
| Clearing Firm | |
|---|---|
| N/A | No. of Commission-Free ETFs |
| N/A | No. of Retail Locations |
| N/A | No. of Mutual Funds (w/ Load) |
| N/A | No. of Mutual Funds (No Load) |
| N/A | No. of 3rd Party Research Report Providers |
| N/A | Max. No. of Legs (Complex Options) |
Account Features
| Virtual Trading | |
|---|---|
| No Minimum Deposit | |
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No Maintenance Fees |
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No-Fee IRAs |
| Online Trader Community | |
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Investment Education |
| Live Seminars |
Mobile Trading
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iPhone App |
|---|---|
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iPad App |
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BlackBerry App |
| Android App | |
| Mobile Site |
Customer Service
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Phone Support |
|---|---|
| Email Support | |
| Live Chat Support | |
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Retail Locations |
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24/7 Customer Support |
Trade Types
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Stock Trading |
|---|---|
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Options Trading |
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Mutual Funds |
| FOREX Trading | |
| Futures Trading |
Recommended For
| Discounted Trading | |
|---|---|
| Long Term Trading | |
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Options Trading |
| Active Trading | |
| International Trading |
Banking Features
| Checking Accounts | |
|---|---|
| Savings Accounts | |
| Credit Card Accounts | |
| Debit Card Accounts | |
| Mortgage Loans |
Trading Platform Features
| Web Browser Platform | |
|---|---|
| Windows Desktop Platform | |
| Mac Desktop Platform | |
| Platform Backtesting |
Active Trading Features
| Direct routing offered to clients | |
|---|---|
| Broker receives payments for order flow | |
| Broker internalizes trades | |
| Clients receive rebates for adding liquidity |
