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2023 Review Of Merrill Edge

Bank of America owns Merrill Lynch’s online broker platform, Merrill Edge. Merrill Edge gives customers access to a variety of investments and trading tools, as well as the financial guidance of Merrill Lynch’s experienced advisors.

There is a wide range of financial products on the platform. Users can access sophisticated portfolio management tools and get expert advice from financial professionals. With a You can get personalized investment advice from a dedicated advisor with the Merrill Edge account. Merrill Edge offers discounts on select products and services.

Several awards have been won by the Merrill Edge platform. Merrill Edge continues to be a leader in the online investing space, setting the bar for excellence in user experience and convenience. In 2019, the company was ranked first in Overall Client Experience from and fifth overall among Barron’s Best Online Brokers. Suffice it to say that if you’re considering opening a new online brokerage account, Merrill Edge is worth a look. Merrill Edge has a variety of services and resources that make it an excellent choice for investors who are looking for an easy-to-use platform with low fees.

If you are interested in learning more about Merrill Edge, including what trading services are available, the fees you will pay, and the pros and cons of being a customer, you have come to the right place. We give you all the information you need to make an informed decision. All of that and some will be covered in this post.

Let’s take a step back and look at how Merrill Edge came to be. Merrill Edge was launched in 2010 as a direct-to-consumer investment platform, offering a range of services to help individuals make sound financial decisions.

What is Merrill Edge?

Merrill Edge came online in 2010—two years after Bank of America acquired Merrill Lynch.

Merrill Edge wanted to offer an easy to use online trading platform for all types of investors. Access to research, advanced trading tools and a wide variety of investment options can be found on this platform. The idea took off well. Everyone was talking about it after it gained traction among the target audience.

By 2015, Merrill Edge had over 2 million customers and $120 billion in client assets. Merrill Edge offers customers a wide range of services and tools to manage their investments.

Merrill Edge offers different types of accounts and features. Merrill Edge has solutions to meet your needs.

Merrill Edge Services and Features

Merrill Edge Self-Directed Account

If you’re comfortable managing your own investments, the Merrill Edge Self-Directed Account might offer the solutions you’re looking for.

Standard trades cost $2.95. You can trade online at discounted rates. However, if you’re a You will have access to commission-free online trades on stocks, options, and ETFs if you are a BofA premier rewards member. You will enjoy preferential rates on select banking services when you are a BofA premier rewards member. $6 is the cost of options contracts.

You will have access to a robust suite of research tools even though you will be on your own. You can use these tools to make more informed decisions about investing in the stock market.

Here’s a full list of the investment options you’ll have access to:

  • Stocks
  • ETFs
  • Mutual Funds
  • Fixed Income and Bonds
  • Options
  • Margin Lending

merrill edge self directed


Pro Tip: You’ll need a minimum of $20,000 invested between BofA, Merrill Edge, and/or Merrill Lynch accounts to qualify for the BofA Premier Rewards account. Follow this link to read the fine print on how all that works. Also, this is not a full breakdown of their fees, which will be covered in more detail later on in this post.

Merrill Edge Guided Investing Account

If you’d like a little help planning your investment strategy or prefer to take a more hands-off approach, you may want to sign up for a Merrill Edge Guided Investing Account. The Merrill Edge Guided Investing Account is a great choice for investors who want an easy and straightforward way to invest without having to manage their own portfolio.

To get started investing, you’ll need to enter some basic details about yourself and your investment goals. You will receive an investment plan from Merrill Edge. Specific financial goals and objectives will be the focus of your investment plan.

As time goes on, this same group of advisors will also make adjustments to your portfolio. It’s a good idea to make sure that your investments are in line with your long-term financial goals. (I’ve heard some people refer to this plan as Merrill Edge’s robo-advising service. But I do not see anything on their website that calls it robo-advising.)

To open a You will need at least $5,000 to open the Merrill Edge Guided Investing account. Merrill Edge Guided Investing account is ideal for those who want to invest in the stock market but don’t have the time or knowledge to do it on their own; with just a minimum investment of $5,000 you can start investing with confidence. The asset management fee is 0.45%. You will need to factor this fee into your budgeting for the year. Bank of America members can pay as little as 0.20%. Travel rewards and access to exclusive events are available to Bank of America premier rewards members.

merrill edge guided investing


Merrill Edge Guided Investing Account (with an Advisor)

Investors with at least $20,000 in opening deposits can opt for a more personalized level of service with a Merrill Edge Guided Investing Account Plan with an Advisor.

You will receive one-on-one advice from a professional advisor who will help you develop your investment portfolio based on your goals and preferences. You’ll be able to track your investments and make changes if you need to.

You will be able to periodically meet with your advisor, who will monitor the performance of your account over time and adjust your funds as needed. Your advisor will help you reach your financial goals and stay on track. This account has an advisory fee of 0.85%.

merrill edge guided investing with advisor


Merrill Edge Market Pro

Advanced traders might want to check out the Merrill Edge Market Pro platform, which offers more powerful investment tools and better reporting insights than a traditional account.

To qualify for a Market Pro account requires you to make at least 15 trades per quarter or have a balance of at least $50,000 between your Merrill Edge and BofA accounts. You will be able to access specialized support and trading insights to help maximize your investing potential.

There are no monthly account fees when you make trades on the Market Pro platform. The trading fee is not charged for accounts with a balance of $25,000 or more.

merrill edge market pro

Merrill Edge Retirement Planning

Merrill Edge also offers the following types of individual retirement accounts:

If you’re an entrepreneur, you might be interested in Merrill Edge’s Small Business retirement solutions, including:

  • Simple IRA
  • Small Business 401k
  • Individual 401k

Let’s face it. It can be hard to decide which small business plan is best for you. Before committing to a small business plan, it is important to consider any potential risks.

Merrill Edge can help you decide which option makes the most sense. A Merrill Edge representative can help you assess your financial goals and give you guidance on which product is best for you.

Merrill Edge Pricing

Merrill Edge is not the cheapest online trading platform. It is an attractive option for investors who are looking for an all-in-one platform. If you’re a You will enjoy commission-free trades online if you are a BofA premier rewards member. You will have access to exclusive financial advice and discounts on banking services if you are a BofA premier rewards member. But if you’re not, you’ll pay $2.95 for online trades with a standard account and $6.95 with a Market Pro account.

Broker-assisted trades cost $29.95. It is more expensive than online trading, but also offers more personalized service. There is no minimum balance required to open a standard brokerage account. You can access your investments through a mobile app or online.

Guided Investing Accounts require a minimum deposit of $5,000 and come with a 0.45% asset management fee. The accounts are designed for investors with larger portfolios who want to benefit from professional advice at an affordable rate. If you want access to a There is a minimum opening deposit of $20,000 and an advisory fee of 0.85%. An array of tax and estate planning services can be found in this account.

It would not be possible to cover all of Merrill Edge’s fees in this post. It is important to consider all of the fees associated with any product or service before making a decision. If you’re looking for a more specific price on a particular service, visit their pricing guide here.

Signing Up and Getting Started

To sign up for a Click the red button on the top right corner of your browser to open the Merrill Edge account. To start investing with confidence, open a Merrill Edge account today.

You will answer a few questions about the account you want to open. An account specialist will help you complete the process after that.

You need to enter your personal details once you pick the type of account. You need to choose a password that you can remember.

Overall, it’s a pretty easy sign-up process that shouldn’t take more than 10 minutes.
merrill edge sign up

Merrill Edge Promotions, Bonuses, Coupons

At the time of this writing, Merrill Edge is offering up to a $600 sign-up bonus for opening a new account. Here’s how the bonus structure works:

  • If your opening deposit is $200,000 or more, you will get a $600 bonus. The bonus only applies to new accounts. Booyah!
  • The opening deposit should be between $100,000 and $199,999. Don’t miss out on this bonus offer, it’s only available for a limited time.
  • If your opening deposit is between $50,000 and $99,999, you will get a $150 bonus. New customers who open an account and make the opening deposit within 90 days are eligible for the bonus.
  • If your opening deposit is less than $20,000, you will get a $100 bonus.

Merrill Edge Security

Bank of America is serious about security and fraud protection. They use sophisticated technology to protect their customer accounts. You would expect BofA to have a bulletproof security team. The security team at Bank of America is one of the best in the world, and they are constantly on the lookout for new ways to protect their data and customers.

Merrill Edge uses a number of security features. Merrill Edge uses advanced monitoring techniques to detect and prevent fraud. In the event of suspicious activity, you can sign up to receive text alerts. You can be alert to any potential risks in your area by staying informed.

What’s more, Merrill Edge offers a Fraud Protection Guarantee, which reimburses you for monetary losses that stem from fraudulent activity.

Customer Service and Support

Customer support is available over the phone. You can use their online support and FAQ to get help on your own. Existing customers can call. New customers should call. You can also send an email to customer support at [email protected].

If you prefer to get in-person financial advice, you can schedule a free consultation with a Merrill Edge financial solutions advisor at a Bank of America has a financial center in your area. You can access a wide range of banking services at the Bank of America financial center. To find abranch in your area, check out their branch locator or call 1-888-637-3343.

Pros and Cons of Merrill Edge


  • Wide range of services, from self-directed to personalized advising
  • Merrill Edge Market Pro offers advanced tools for seasoned traders
  • Good for Bank of America customers that qualify for free trades
  • 24/7 customer support is always a plus


  • No free trades for many customers
  • Advising fees of Guided Investing account (i.e., their robo-advising service) are higher than many competitors

Alternatives to Merrill Edge

The main alternatives to Merrill Edge include:

Merrill Edge is the only company that offers in-person financial advice through a network of physical branches.

Merrill Edge FAQs

Is Merrill Edge good for beginners?

Yes. Merrill Edge is a good investment platform for beginners. The company doesn’t require a minimum balance to sign up, and it also has a lot of helpful research tools. Many of the investing services are free. If you like talking to agents on the phone, you should have access to customer support 24/7. Having access to customer support 24 hours a day can give you peace of mind that your issues can be quickly and easily solved.

Is Merrill Edge a good investment?

This is a trick question. I don’t know how to answer it. Merrill Edge has a trading platform that allows you to make your own investments. You can get access to research and personalized guidance on the platform. Some may be winners and some may not. Everyone has done their best regardless of the outcome.

Investing in the market carries some risk, so I always recommend doing your homework before investing. To assess your own risk tolerance, be sure to understand the potential rewards and risks associated with any investment decision you make. I don’t recommend investing in things that you don’t understand. It’s a good idea to research and ask questions so you can make an informed decision. Check this post out if you are looking for the best low-risk investments.

Is Merrill Lynch the same as Merrill Edge?

Merrill Edge is a division of Merrill Lynch. Merrill Edge has a wide selection of investment options. They are both owned by the same company. The financial services provided by Bank of America, Merrill Lynch, and US Trust are used by millions of customers worldwide.

Is Merrill Edge free?

Merrill Edge is free to join. Merrill Edge has a variety of features and tools to help you make informed decisions about your investments. You don’t have to maintain your account with minimum monthly balances or transactions. Domestic trades are free for qualified customers. Domestic trades are an attractive option for investors because of the lower fees associated with them. Here’s a full breakdown of
Merrill Edge’s pricing.

So, Is Merrill Lynch Right for Me?

If you’re already a Bank of America customer—and especially if you’re a Premier Rewards Member—it might make sense to open a You will get unlimited commission-free trades with the Merrill Edge account. Merrill Edge has low fees and a variety of research tools to help you make the most of your investments.

If you are an experienced trader, Merrill Edge might be a good option.

Merrill Edge gives you the experience of working with a financial advisor in person.

On the other hand, if you don’t have a You may want to look elsewhere if you want to avoid trading fees or use the lowest cost service.

Investing in financial products can be difficult. Do your own research before making any decisions and seek professional advice. You are already one step ahead of the game if you do your research and get the guidance of those who are more experienced. It is important to remember that no matter how much knowledge you have, there is always something new to learn.

You will be on your way to financial freedom if you stick with a plan that works for you. Small steps will help keep you motivated and focused on your goals.

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