The Stock, Fund and Portfolio “Stories,” as Merrill Edge calls them, are central to the mobile app and are what propelled Edge to the top of the heap for our Overall Client Experience. Research is excellent for stocks, ETFs, and mutual funds, thanks to the inclusion of Stock Story and Fund Story. All mobile devices are supported, including Apple Watch.Įase of use: Apple Face ID and fingerprint login, coupled with a cleanly designed dashboard, makes it very easy to jump in and check in on your portfolio. For existing Bank of America customers, the universal account access and functionality makes the app an easy winner. Merrill Edge's mobile app is easy to use, great for research and exceeds the industry standard experience. Benefits through the Preferred Rewards program include money market savings interest-rate boosts, credit card bonuses, investment discounts and more.Ĭustomers should still compare overall costs and rewards against competitors to make sure they are getting the best deal, as Merrill competes hardest in services, not always on price. To qualify for the base tier, Gold, customers must maintain a three-month average combined balance in their bank and brokerage accounts of at least $20,000. Preferred Rewards: Merrill’s rewards system makes for a top-notch combination of banking and brokerage. In practice, its restrictions mean that there is essentially no penny stock trading. Penny stocks: Merrill Edge does not usually allow trading of securities that trade over-the-counter (OTC) and are priced below $5 per share. Broker-assisted trades are a reasonable $19.95. Options trades cost $0.65 per contract, a common rate among top-tier brokers.
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Merrill Edge, like other discount brokers, provides customers unlimited free ($0) stock and exchange-traded fund (ETF) trades.
Retirement services: Merrill offers traditional, Roth and rollover IRAs, and placed among the best IRA accounts in our 2023 review. You will have to sign up with a crypto exchange to trade popular tokens such as bitcoin, ethereum or dogecoin. Investment guidance: In addition to self-directed investing, Merrill Edge also offers automated (robo-advisor) portfolio management ($1,000 minimum investment) as well as fully managed advisory services with an advisor ($20,000 minimum investment) through its Guided Investing program.Ĭryptocurrency: Merrill Edge does not offer cryptocurrency. Fractional shares, paper trading, futures, forex, and cryptos are not available. On offer are stocks, ETFs, options, mutual funds and bonds. That said, active traders will be left wanting more. Merrill Edge provides a diverse offering that meets the industry standard and goes beyond it with a stellar user experience and the available services of a mega-sized bank.
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