![]() These margin rates are on the high side of brokers in our survey. They request you call to hear their rates for borrowing more than $100,000. If you choose to open a margin account, Merrill Edge charges 8.6% to borrow up to $25,000 and 7.5% to borrow between $25,000 and $100,000. If you request help from a Merrill Edge broker, it will cost $29.95 per transaction. There’s no fee for brokered CDs and Treasuries, but it costs $1 per bond to buy corporate bonds, municipal bonds and other secondary investments ($10 minimum, $250 maximum cost). Merrill Edge charges a few transaction fees: $0.65 per contract for options trades and a $19.95 commission per mutual fund transaction (beyond the list of commission-free funds, which incur a $39.95 redemption fee if sold within 90 days of purchase). It also features commission-free trading of certain mutual funds and fixed income investments. Like the rest of the online brokerage industry, Merrill Edge offers unlimited, commission-free trading of stocks, ETFs and options. They can access their bank accounts, loans and investments all from the same website, and having high balances across all Bank of America-affiliated accounts can qualify them for better rates on financial products. One of the platform’s advantages is that it does not take payment for order flow-although we feel that has more to do with its status as Bank of America’s core brokerage offering, rather than a choice designed to attract day traders looking to avoid front-running by market makers.īank of America gives its existing customers a few reasons to choose Merrill Edge. ![]() Merrill Edge would be best for investors who are narrowly focused on basic investments, like stocks, exchange-traded funds ( ETFs) and mutual funds. Day traders and more experienced investors might prefer a platform with more robust trading capabilities and advanced order types, like conditional orders. The limited selection of product offerings is our main concern with Merrill Edge. That being said, when compared to other online brokerages, Merrill Edge’s tools are hardly top-shelf offerings, and the platform has some significant downsides. All rights reserved.Both beginners and experienced investors will find things to like about Merrill Edge, such as quality research and decent investment tools. Investment products offered through MLPF&S and insurance and annuity products offered through MLLA: Are Not FDIC InsuredĪre Not Insured by Any Federal Government AgencyĪre Not a Condition to Any Banking Service or Activity and affiliated banks, Members FDIC and wholly owned subsidiaries of BofA Corp. Both are wholly owned subsidiaries of BofA Corp.īanking products are provided by Bank of America, N.A. Trust and fiduciary services are provided by Bank of America, N.A., Member FDIC, or U.S. ("MLLA") is a licensed insurance agency and wholly owned subsidiary of MLPF&S is a registered broker-dealer, registered investment adviser, Member Go to another website and learn about Securities Investor Protection Corporation (SIPC) popup, and a wholly owned subsidiary of BofA Corp. Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation ("BofA Corp."). Additional information is available in our Client Relationship Summary (PDF). Merrill offers a broad range of brokerage, investment advisory (including financial planning) and other services. This material is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. Clients should consult their legal and/or tax advisors before making any financial decisions. There is always the potential of losing money when you invest in securities.Īsset allocation, diversification and rebalancing do not ensure a profit or protect against loss in declining markets.īank of America, Merrill, their affiliates, and advisors do not provide legal, tax, or accounting advice.
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