Merrill Edge Online Brokerage

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Merrill Edge is part of Bank of America since 2009. It provides online brokerage for investor. As part of Merrill Lynch service, Merrill Edge is a full service broker that offers stocks, ETFs, and option trading. Any investor and trader can open a Merrill Edge account.

If you are Bank of America customer, you may even qualify for free monthly trades. For current banking customers, you might want to consider Merrill Edge as your main broker.

Broker Profile

    Merrill Edge Stock Broker
  • Products: Stocks, ETFs, fixed income & bonds, mutual funds, CDs, IPOs, options, annuities
  • Stock Orders: $6.95 per trade
  • ETF Orders: $6.95 per trade
  • Broker Assisted: $29.95 per trade
  • Mutual Funds: $0.00 for NTF funds. Non-NTF: $19.95/trade or $29.95/trade
  • Options: $6.95/trade+$0.75/contract
  • Exercised:  $6.95 per trade
  • Minimum to Open: $0
  • Inactivity Fee: $0.00
  • Full Account Transfer Fee: $49.95
  • Some Other Fees: Wire Transfer Fee: 24.95
  • Maximum Margin Rate: Check current website for details.

Commissions & Fees

You can buy and sell stocks, ETFs, and options. Regular stock trades are a flat $6.95 per trade. There are no additional charges for stocks less than $1 per share.
Options trades can cost $6.95, plus $0.75 per contract. Merrill Edge offers the lowest rates compared to other full-service brokers such as TD Ameritrade, Fidelity, Charles Schwab, ETRADE, and Scottrade.

Free Trades

Merrill Edge provides investors and traders with up to 100 commission-free trades each month through its Preferred Awards program. How to qualify for free trades:
Qualify for up to 30 $0 online equity and ETF trades per calendar month if you meet any one of the following criteria:
Total combined balances of $25,000 or more in your Bank of America, N.A. deposit accounts: Checking, Savings, FDIC-insured CDs, FDIC-insured IRAs
Or, total combined balances of $25,000 or more in cash balances in your Merrill Edge self-directed account(s): Bank Deposit Accounts sweep option with your Cash Management Account® (CMA®) or Retirement Assets Savings Program II (RASP II) sweep with your IRA
Or, client of Platinum Privileges
Or, enrolled in the Preferred Rewards Platinum tier
Qualify for up to 100 $0 online equity and ETF trades per calendar month if you are enrolled in the Preferred Rewards Platinum Honors tier, see Merrill Edge Website.

Mutual Funds

Merrill Edge offers a wide range of mutual fund investment choices. In total, investors have more than 12,000 mutual funds from which they can choose. There are about 5,100 fund which have no load fee applied. There are 4,700 funds of which have no transaction fees.

When applicable, Merrill Edge charges a transaction fee of $19.95 on no-load mutual funds. This fee is on average with those charged by other online brokers.

Merrill Edge Platform

Merrill Edge's online trading platform offers streaming quotes & charts, stop &  independent investment research, account alerts, and retirement & savings calculators. In terms of charting, the company provides advanced options for traders.

Furthermore, the broker develops and maintains a mobile app solution for iOS and Android operating systems.

One of the more unique benefits offered by Merrill Edge is its integration with TurboTax. You can export your trading information using TurboTax. You will have access to professional tax services. This service can greatly ease the stress of completing taxes for your securities investments come tax season.

Pros:
  • You can get free trades if you qualify from balances
  • There are ton of researches in the website.
  • You can link your Bank of America account with your brokerage account. The fund transfer can be done easily among accounts.
Cons:
  • There is no support for advance orders.

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