Trust Score

96
See all Reviews

Regulation

  • SEC

Platform

Min Deposit

$0

Leverage

:1

Bonus

Free Trades

Zero Commissions

Merrill Edge is a client focused trading brokerage that really strives to build strong relationships with their clients and simplify their financial lives. In the following review we discuss the aspects that make up this broker and how it compares to the competition.

Introduction

Merrill Edge was founded in 2010 and is owned and operated by the Bank of America’s Merrill Lynch company. The trading brokerage focuses primarily on high profile investors with $100,000 - $200,000 in investable assets. Since the trading brokerage is linked to the Bank of America, Merrill Edge receives a large amount of their clients through the bank and those clients have access to over 2100 Bank of America locations for investment advice and more. Merrill Edge is a fully regulated trading brokerage for the participation in equity and fixed-income markets as they are a member of FINRA and SIPC. Merrill Edge is a large and successful trading broker but are limited to servicing American clients rather than international clients.

Merrill Edge Products

Merrill Edge offers their clients a variety of tradeable assets in the most liquid and sought-after markets. Traders have access to trading Stocks, ETFs, Options, Mutual Funds, and Bonds & CDs. One unfortunate thing is that Merrill Edge does not offer trading in the Forex and Futures markets, so those traders will have to look else where.

Merrill Edge Trading Conditions

Merrill Edge clients have favorable trading conditions and are looked after very well by the brokerage advisors and team. Clients have a few options when it comes to investing through Merrill Edge. For instance, clients can be independent and trade for themselves online, they can receive assistance trading themselves through guided investing, and they can trade through an experienced investment advisor. No matter which route traders take, they can rest assured they will receive the best possible rates and execution speeds.

Merrill Edge Account Types

Merrill Edge features three different account types that differ greatly in terms of services. Depending on the clients needs, Merrill Edge has an account for them. See the account types overviewed below.

Online Investing & Trading Account

This account is made for independent and experienced investors who want full control of their investment and trading portfolio. Traders still receive a full range of investments, guidance from advisors, and easy to use tools and features for analysis. These account types can be created without any initial investment.

Guided Investment Account

With this account, the client selects a goal and an online investment advisory program which is provided by Merrill Edge. This program combines online investing with a professional portfolio manager at a low cost. Minimum deposits for this account type is $5000.

Advisor Investment Account

Clients have the option to let a professional advisor take control of your investment account. Of course, the clients can work with the advisor and they do everything they can to meet your goals. The minimum initial investment is $20,000 for this account.

Merrill Edge Commissions & Fees

Commissions and fees vary from account to account but are very reasonable and competitive with other trading brokerages of this kind. See the main fees associated with the different account types below. For all other fees, the website clearly outline all the fees for various trading options.

Online Investing Account

  • $0 account fee
  • $6.95 for stocks and ETF trades
  • $29.95 for assisted stocks and ETF trades
  • $0.75 per contract + associated trading fees on options

Guided Investment Account

  • 0.45% annual fee
  • $49.95 closeout fee (retirement accounts)

Advisor Investment Account

  • 0.85% annual fee
  • Closeout fee $75 (retirement accounts)

Merrill Edge Platforms and Tools

Merrill Edge provides traders with their very own proprietary trading platform known as the MarketPro platform. This platform is entirely web-based and is a robust and intuitive trading platform. Traders have access to real time market analysis and global research, trading and account access, streaming and interactive charting, and have a fully customizable dashboard. Merrill Edge is a high-profile trading brokerage and therefore only grants access to the trading platform for traders holding $50,000 or more in their trading account. Also, certain features are only available to traders who trade more than 30 times per month. 

Is Merrill Edge Mobile Friendly?

Yes, Merrill Edge is mobile friendly and compatible across all mobile devices through various browsers. The platform operated very smoothly and is without bugs. Traders have access to all the features they would need such as account management, interactive charts, heat maps, and a customizable dashboard. Mobile trading is very well done with Merrill Edge.

Merrill Edge Promotions

Merrill Edge offers their clients some unique bonuses and promotions to continue trading and investing money through their services. They have implemented a rewards program where traders can earn free trades, money market savings boosts, credit card bonuses, and more.

Merrill Edge Deposits & Withdrawals

Merrill edge provides their customers with various deposit and withdrawal methods that are sure to satisfy any traders needs. See the deposit and withdrawal methods listed below.

  • Cash transfer- (Real time or up to 3 business days)
  • Wire transfer- (Completed within same day)
  • Check- (3-5 business days)
  • Transfer accounts or securities- (8+ days)

Transfer fees apply for all the available deposit and withdrawal methods and are listed on the website.

Merrill Edge Customer Support

If there’s one area where Merrill Edge goes above and beyond it’s their level of customer support. They have numerous support and contact options including 24/7 phone support, live chat, and email. Also, clients can schedule complimentary consultations via phone or in person at one of the 2100 Bank of America locations.

Merrill Edge Research and Education

Merrill Edge also provides clients with exceptional educational and research resources. The website features an educational learning centre where traders and investors can find courses and material ranging from beginner to advanced investment related material.

Noteworthy Points

When reviewing this trading brokerage, it is clear that Merrill Edge markets themselves to high profile investors rather than small retail investors. Though this is the case, it allows the broker to provide only the highest quality of services and focus more on the customer-investor relationship.

Conclusion

Merrill Edge provides their customers with several key aspects that make the brokerage stand out. For instance, the rewards program is quite interesting and incentivizing for high profile investors. Also, the trading platform is quite sophisticated and features a wide range of tools and features. Another thing which is quite outstanding about Merrill Edge is the level of customer care and support. Traders may pay for it through the higher fees and commissions, but it’s probably worth it for high profile investors.

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