Merrill Edge Trading Commissions
- $8.95 for Standard customers ($250,000 account balances or 0-119/0-29 trades per year/quarter) per stock and etf trade
- $6.95 for Preferred customers ($250,000-$1,000,000 account balances or 120+/30+ trades per year/quarter)
- $4.95 for Superior customers ($1,000,000+ account balances or 240+/60+ trades per year/quarter)
- Options: $8.95 + $0.75/contract for Standard customers; $6.95 + $0.75/contract for Preferred customers; $4.95 + $0.75/contract for Superior customers
- Self-directed mutual funds: 0.75% gross proceeds
Merrill Edge Important Fees and Surcharges
- Extended hours surcharge: $0
- Large order surcharge: $0
- Penny stocks surcharge: $0
- Account maintenance fee: $25 per quarter
- Mutual fund short-term redemption fee if held less than 90 days: $50 minimum, $250 maximum
- IRA setup fee: $0
- Annual IRA fee: $0
Merrill Edge Pros
- Possibility of trading for free
- Banking products from Bank of America, including IRAs, checking accounts and CDs
- Free dividend reinvestment
Merrill Edge Cons
- Complicated commission structure
- $25 per quarter account maintenance fee
- Badly designed, buggy trading technology
- Unprofessional customer service
Merrill Edge Account Types
- General Investing
- Cash Management Account
- Individual Account
- Joint Account
- Retirement
- Roth IRA
- Traditional IRA
- Rollover IRA
- SEP IRA
- Education
- NextGen College Investing Plan®
- Custodial (UGMA/UTMA) Account
Merrill Edge Review
Merrill Edge is a new attempt of almost failed and saved at the last moment by the government Merrill Lynch to create another overpriced
brokerage firm and try to lure back higher net worth investors with free trades. The company has complicated pricing, strongly favoring
the rich. Minimum to open and maintain account is $2,000.
Merrill Edge is one of the very few brokerage houses still charging account maintenance fee: $25 per quarter ($100 per year) for
customers who don't maintain $50,000 account balance or make at least 15 trades in a quarter.
Merrill Edge offers free dividend reinvestment and great banking products through the parent company - Bank of America. However, its
trading technology is slow, limited and prone to technical issues. The problems at the brokerage firm are such, that even its customer
service is often lost and can't solve the issues.
We don't see any compelling reasons to open a brokerage account at Merrill Edge. Together with
Speedtrader (Speedtrader Review),
Vanguard (Vanguard Review) and
Wellstrade (Wellstrade Review), it is one of the worst brokers in the industry.
Merrill Edge Promotional Code
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