Merrill Edge Review 2021

Overall rating

Overall rating

8

/10

Merrill Edge Review 2021
Davis J.
Robertson A.
January 2021

17

Position
in rating

Trading terminals:

Merrill Edge
17

Position in rating

8/10
Overall rating

Trading terminals:

Merrill Edge

Summary of Merrill Edge Trading Company

The Merrill Edge brokerage company was created by the Bank of America Merrill Lynch. The broker’s activities are regulated by two government bodies: the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC).

The broker is focused on cooperation with investors and offers instruments for long-term and short-term investment. The company offers accounts for beginners and professionals, and also allows you to choose the appropriate deposit option, including savings for retirement, providing a financial cushion for children’s future education, and others.

💰 Account currency: USD
🚀 Minimum deposit: $1
⚖️ Leverage: 1:1
💱 Spread: No
🔧 Instruments: Stocks, exchange-traded funds (ETFs), mutual funds, bonds, and options
💹 Margin Call / Stop Out: No
Attention!

Traders Union pays rebates only for trading accounts opened through its website.

👍 Advantages of trading with Merrill Edge:

  • Availability: the minimum investment amount to start investing is $1.
  • The user can link his account to a bank account and manage his portfolio from the mobile application 24/7.

👎 Disadvantages of Merrill Edge:

  • The broker is only suitable for investing, there are no instruments for active trading.
  • Reaching out to the support is an Augean task.
  • Only US residents can open an account at Merrill Edge company.
  • Complicated and snail-paced registration procedure.

Overall

Merrill Edge is a brokerage company focused exclusively on working with American investors, yet it’s suitable for both beginners and professionals.

Visit Merrill Edge

Geographic Distribution of Merrill Edge Traders

Merrill Edge Latest Comments for 2021

5
3
7

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of Merrill Edge published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

It is comfortable to work with Merrill Edge, as this broker practices an individual approach and offers several investment options. There, the method of managing funds is different, and the trading conditions also vary. I settled on Invest with an Advisor. Conveniently, you manage the account yourself, but at the same time, you can always rely on the help of a financial consultant who helps with the search for local and complex solutions for profitable investment.

Among Merrill Edge’s advantages, the user can link his account on the platform with a bank account. This is very convenient, since you can manage your investment portfolio directly from the mobile application. You can start cooperation with only $1 in your pocket. As for its shortcomings, first, the broker focuses only on American investors, and non-US residents cannot even register on this platform.

I have read many unpleasant reviews about Merrill Edge, but I think this broker is quite adequate. It cannot be compared with scams, which are aimed solely at deceiving naive users. Yes, there is bureaucracy here and those who plan to cooperate with this company need to take into account some nuances, but I did not notice anything critically complicated. I chose Merrill Guided Investing, where investment consulting is provided. Conveniently, the company provides a personal consultant That helps to fulfill the maximum plan and achieve the set goal.

Somehow Merrill Edge did not work for me at all. Well, what kind of modern broker is this if it has such a complicated registration procedure, a terribly inconvenient platform, and the trading conditions leave much to be desired? There is no leverage, instead “margin lending” is offered, but that is not the case. The broker does not provide affiliate programs either, which is very strange for a company that wants to develop its client base. To be honest, I had high hopes for Merrill Edge, but it disappointed me, too.

For short-term investing and speculation, the Merrill Edge broker is not suitable, but those who work with an eye toward the long term and are used to investing in stocks and bonds should think about it. The entry threshold is from $1. For example, a newbie friend of mine was very happy with the $1 deposit from Merrill Edge.

I created an account on the Merrill Edge platform just a couple of months ago. It is difficult to say yet how smart this broker is. The trade is going with varying success, but I am getting a plus. Now for the disadvantages. The support service is very slow and sometimes things just break out in anger towards the support team. However, we must give the company its due because Merrill Edge has implemented a quality training base. Many interesting materials will be useful for beginners and professionals.

I was looking for a stockbroker who would offer adequate conditions for access to options, and investments in stocks and bonds. Active trading and speculation are not my preference, which is why I chose Merrill Edge. It has all the necessary tools for long-term investment and beginners will be comfortable here. You can invest with a small amount to practice, and only after that should you increase your capital. That’s what I did.

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Expert Review of Merrill Edge

Merrill Edge is a subsidiary of Merrill Lynch Bank. The broker is focused on working with investors, and its cooperation with the Traders Union proves that it is a safe harbor for a trader.

The main activity of the broker is stock markets, trading in stocks and bonds, options, etc. Such trading instruments are beneficial to use for long-term investment, for active trading it is worth choosing another broker from the Traders Union rating.

The broker provides accounts whose trading conditions will suit both a novice and a professional investor. The accounts for newbies involve investing small amounts, which allows even those who open a brokerage account for the first time to try their hand at investing.

Active users cite the following disadvantages of Merrill Edge: the long response by the support service, cooperation is limited to residents of the United States, and the lengthy registration procedure.

The Merrill Edge website has basic information about accounts, companies, and trading instruments. Also, the broker provides many training materials that will be useful to an investor with any experience.

Antony Robertson

Traders Union
Financial Analyst

Analysis of the Main Features of this Online Stock Broker

8

Overall rating

7.7

/10

Execution of orders

8.3

/10

Investment instruments

8.1

/10

Withdrawal speed

7.9

/10

Customer Support work

7.6

/10

Variety of instruments

8.4

/10

Trading platform

Dynamics of the Popularity of Merrill Edge
in 2020 among the Users of the Traders Union

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mär.
Apr.
Mai.
Jun.
Jul.
Aug.
Sep.
Okt.
Nov.
Dez.

Investment Programs, Available Markets, and Products of the Broker

Merrill Edge is a broker for investors that offers several ways to manage money:

  • Merrill Edge Self-Directed. This investment option is suitable for those who are ready to independently trade stocks, options, and other assets that make it possible to make a profit in the future. The investor can invest and manage funds at his discretion. Trading is also available from a mobile device.

  • Merrill Guided Investing or investment advisory program. Created for investors who not only want to make a profit but also achieve specific financial goals. A consultant who is always in touch will help the user fulfill the maximum plan.

  • Invest with an Advisor. An option for investors who want to manage an account single-handedly, but at the same time have a financial advisor nearby who will assist in selecting the most profitable investment options; and find a local or comprehensive solution to the client's financial issues.

Depending on the method of managing funds, the size of the minimum deposit, as well as trading conditions, change.

Important!

If you are a large investor and plan on investments over $10,000, contact us at [email protected] or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.

Merrill Edge’s affiliate program

The goal of any affiliate program is to provide traders and investors with an additional channel to receive passive income without making transactions personally. However, Merrill Edge is not able to receive financial bonuses for new customer acquisition. The broker aims to cooperate exclusively with active traders who make deals.

Rebate and Discount Programs of the Traders Union for Merrill Edge

Rebates are additional income that a trader receives from Traders Union for completed transactions. If you want the rebate to be credited to your account, you need to open a trading account with the broker Merrill Edge through the Traders Union referral link. If you already have an account with this broker, you can link it to the Traders Union so you can receive rebates. Rebates accrue for both profitable trades and unprofitable ones.

Try it!  Try it!

Trading Conditions for Merrill Edge Users

Merrill Edge offers optimal trading conditions for investing, as well as several instruments with which you can make a profit in the short- and long-term. There are no Forex assets in the broker's arsenal.

The minimum deposit on an account for beginners is $1. Professional accounts are limited to $1,000 and $20,000.

There is no leverage, but the broker offers margin lending. This feature is only available on a beginner account.

$1

Minimum
deposit

1:1

Leverage

24/7

Support

Merrill Edge
💻 Trading platform: No
📊 Accounts: Merrill Edge Self-Directed, Merrill Guided Investing, Merrill Guided Investing with an advisor
💰 Account currency: USD
💵 Replenishment/Withdrawal: Visa bank cards, ATM top-up possible, transfer of funds from a Merrill Lynch bank account, and checks
🚀 Minimum deposit: $1
⚖️ Leverage: 1:1
💼 PAMM-accounts: No
📈️ Min Order: $0.1
💱 Spread: No
🔧 Instruments: Stocks, exchange-traded funds (ETFs), mutual funds, bonds, and options
💹 Margin Call / Stop Out: No
🏛 Liquidity provider: Yes
📱 Mobile trading: Not indicated
➕ Affiliate program: Yes
📋 Orders execution: No
⭐ Trading features: The broker is suitable for investing and does not offer tools for active trading.
🎁 Contests and bonuses: No

Merrill Edge Commissions & Fees

Information

The experts of Traders Union analyzed Merrill Edge for trade and non-trade commissions. The broker provides clients with information about all commission fees, including non-trading ones. These include check cancellation fees, termination fees, overdue securities exchange fees, and government fees.

Account type Spread (minimum value) Withdrawal commission
Merrill Edge Self-Directed Stocks & ETFs - $0, Brokerage - $29.95 Wire transfer fee - $24.95, fee for transferring funds to another brokerage company account - $49.95. From $2.5 or 0.25% of the transaction amount for a transfer via VISA.
Merrill Guided Investing Stocks & ETFs - $0, Brokerage - $29.95 Wire transfer fee - $24.95, fee for transferring funds to another brokerage company account - $49.95. From $2.5 or 0.25% of the transaction amount for a transfer via VISA.
Merrill Guided Investing with an advisor Stocks & ETFs - $0, Brokerage - $29.95 Wire transfer fee - $24.95, fee for transferring funds to another brokerage company account - $49.95. From $2.5 or 0.25% of the transaction amount for a transfer via VISA.

The broker does not entertain swaps because trading accounts are suitable only for long-term investment. The Traders Union experts compared the commission level of Merrill Edge with other brokerage companies. The analysis showed that Merrill Edge’s trade fees are very high.

Broker Average commission Level
Merrill Edge $29.95 High
Charles Schwab $11 Medium
Ally Bank $4 Low
Merrill Edge
$29.95
Charles Schwab
$11
Ally Bank
$4
Conclusion

In comparison with other renowned stockbrokers, Merrill Edge charges high fees for its services. Trading fees are payable on account closure.

Detailed Review of Merrill Edge

Merrill Edge looks into the future. The main task of the company is to provide its clients with a comfortable old age financially and achieve their other goals through investment. The broker is focused on short-term and long-term investments and is not suitable for active traders seeking instantaneous results.

The company offers a choice of three accounts: two for professionals and one for those new to investment. Also, each client can create an account taking into account their goals: savings for retirement, an account for minors, and a general trading account. Clients, regardless of the type of trading account, have access to the help of highly qualified specialists and an extensive library of training materials.

Merrill Edge by the numbers:

  • 0.012 seconds is the average order execution speed.

  • 95.35% of orders are executed at a price equal to the quoted price or even higher.

  • $1 is the size of the minimum deposit on a stand-alone account.

  • 24/7 are the working hours of the support service.

Merrill Edge is the optimal broker for passive, long-term investing

The broker provides its clients with access to the stock markets, and allows them to buy and sell stocks, bonds, securities, and other assets that bring significant profits after a few months or years.

Useful Merrill Edge services:

  • Personal retirement calculator. Helps to calculate your future income and determine the period after which you can get a financially secure pension.

  • Roth IRA Conversion Calculator. With the help of it, you can find out if this tool suits you, and how beneficial it is for you.

  • RMD calculator. Option for clients aged 72 and over. Calculates the minimum annual allocation from the IRA.

  • Rollover calculator. Used when a client changes jobs. Shows the different retirement plan options for reallocation.

  • Finance distribution calculator. Allows you to consider various options for a pension plan when distributing funds, to determine the most effective one.

  • IRA selection tool. The function helps an investor choose the type of IRA, taking into account its characteristics.

  • Retirement Evaluator. A tool in which you can define your goals and check if you are getting closer to them. There are also tips to help you improve the performance of your portfolio.

Advantages:

1

The minimum deposit for a trading account for beginners is $1.

2

An extensive library that houses educational articles, videos, webinars, courses.

3

A client with any type of account can get advice from a licensed professional and increase the profitability of their portfolio.

4

Assets can be managed both from a personal computer and from a mobile phone.

5

The company does not restrict its clients and allows them to manage assets on their own. There are also no restrictions on the number of assets.

How to Start Making Profits — Guide for Traders

To get started with Merrill Edge, you need to open a professional or beginner trading account.

Account types:

Account Type
Description
Merrill Edge Self-Directed
The minimum deposit is $1, and all trading instruments and training materials are available to the investor. There is a margin lending function. There is no broker fee for additional services. The commission for orders depends on the asset. The purchase and sale of assets are done by the client.
Merrill Guided Investing
A trading account for an experienced investor. To get started, you need to deposit an amount of $1,000 or more. All instruments and tutorials are available. The client declares his goals to the consultant and the specialist monitors the state of the portfolio. This service is subject to an additional 0.45% annual fee.
Merrill Guided Investing with an advisor
This is an account for professionals. The minimum amount of account replenishment is $20,000. In all transactions, the client is accompanied by a personal consultant who helps to make the most effective decisions. For personal support, the investor is charged a fixed amount annually of 0.85%.

There is no demo account but the broker is agog to cooperate with investors, regardless of experience. The site contains training materials for all tools, and it is also possible to get advice from a specialist in the field of investment. A Merrill Edge Self-Directed account holder can also seek advice from a consultant.

Bonuses Paid by the Broker

On the official website of the company, there is no data on possible bonuses for clients. Additional remuneration for account replenishment is also not provided.

Bonus from Traders Union

Merrill Edge is a partner of Traders Union, therefore clients of this broker can receive additional financial rewards for opening an account and making transactions. The association pays rebates to clients by returning part of the funds spent by the trader to complete the transaction. To receive a financial bonus, you need to open an account in Merrill Edge through the Traders Union referral link or link an existing account to an account on TU’s website.

Investment Education Online

Information

Merrill Edge is committed to working with both experienced and budding investors. For clients to make deliberate and profitable trading decisions, the broker provides access to training materials. They allow you to monitor the market, understand how it works, and analyze the situation.

Information available in the Education section
Information not available at the Merrill Edge site
Tutorial articles
Literature list for traders and investors
Training videos and webinars
 
Instructional courses
 
Calculator
 

It will not be possible to check the broker's trading conditions without financial risks since Merrill Edge does not provide a demo account for risk-free trial investments.

Security (Protection for Investors)

Information

The Merrill Edge broker is a subsidiary of Merrill Lynch Bank. Merrill Lynch Bank is registered with the SEC (US Securities and Exchange Commission). Also, its activities are controlled by FINRA (the Financial Industry Regulatory Authority) in the United States.

An investment account can be connected to a bank account and the company guarantees the confidentiality of the client's data. If the investor has any questions regarding the security of the brokerage account, he can contact the bank’s employees.

👍 Advantages

  • The broker is affiliated with Bank of America, which guarantees data confidentiality
  • Merrill Edge is regulated by the SEC, FINRA

👎 Disadvantages

  • The company didn’t envision the creation of a segregated account.
  • The broker and the bank have access to the investor's funds

Withdrawal Options and Fees

  • To withdraw funds, an investor needs to submit an application using his personal account. If you withdraw earnings to a Merrill Lynch bank card, no fee will be charged.

  • You can replenish your trading account with a Merrill Lynch bank card or through an ATM.

  • The broker does not provide information on the timing of the transfer of funds to the client's card.

  • You can use USD to top up your trading account. You need to check with the company's employees about the possibility of replenishing the deposit with other currencies.

  • To get started, the client must go through the verification procedure following registration, only after that, is it possible to deposit into the account. The broker may also require additional documents to transfer funds to the client's personal card.

Customer Support Service

Information

If in the course of work the client encounters difficulties or has any questions, he can reach out to the broker's support service.

👍 Advantages

  • The line through which you can contact the company's specialists is available 24/7

👎 Disadvantages

  • Few ways to contact support
  • Company employees do not perform their duties promptly

Available communication channels with customer support specialists include:

  • by phone using the number indicated on the website;

  • via Linkedin, Twitter, or Youtube.

Contacts

Registration address Two Park Place, Hatch Street, Dublin 2, Ireland. Branch Office: 2 King Edward Street, London EC1A 1HQ.
Regulation
Official site
Contacts

Review of the Personal Cabinet of Merrill Edge

1

To open an account with Merrill Edge, enter the broker's official website. On the main page in the upper right corner, there is a button "Open an account", click on it. If you already have a brokerage account, fill out the form on the left and click "Log in".

Merrill Edge Review - Register
Merrill Edge Review - Register
Merrill Edge Review - Register
2

In the "Help me get started" tab you can familiarize yourself with the types of accounts offered by the broker. If you have already selected the type of account, click the "Open now" button.

Merrill Edge Review — Opening an account
Merrill Edge Review — Opening an account
3

On the next page, the broker specifies the data that must be entered to register on the Merrill Edge website, such as: name, address, data on income, and investment experience. After filling out the registration form, your request will be sent for consideration. If the company approves the request, you will receive a letter from the broker, which will indicate the next steps to open an investment account.

Tags:

Merrill Edge MerrillEdge www merrilledge.com merrilledge.com merrilledge com

The Oldest Reviews of this Online Broker for Stock Trading

Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of Merrill Edge published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

I believe that Merrill Edge is not the best broker in terms of conditions. There are companies with more favorable conditions, and the approach to customers is more loyal there. In addition, I did not like that the Merrill Edge web resource is inconvenient and abstruse. I searched 20-30 minutes for information in which I was interested. Also, you can’t rely on support here either because it is difficult to contact support specialists. The broker is regulated and there is no doubt that it will honor your withdrawals, but I am not going to cooperate with it because I am not satisfied with this broker’s approach to its clients.

The Merrill Edge brokerage is dedicated to working exclusively with Americans. When I lived in the USA, I collaborated with this company and, on the whole, was pleased with the results of the cooperation. The broker honestly fulfills all the agreements, and there are no problems with withdrawals. However, upon returning to my native country, I realized that access to my Merrill Edge account had been canceled. I had to look for ways out of this situation. It turned out that the only option was to open a joint account. In principle, it's not that complicated, but still, I would like the broker to work not only for US residents but also to extend its services to the international market. Its services would be in demand.

Many investors complain that Merrill Edge has a complicated registration and verification procedure. I agree. But I will tell you a little “life hack” on how to simplify your task. Get yourself an account with their bank, then it will be much easier to create an account on the broker's platform. So far, in cooperation with this brokerage organization, I have not noticed any difficulties. The company offers adequate conditions and honestly fulfills all obligations. The only drawback that I noticed is the tight binding to the location (US only). However, there are also loopholes on how to resolve the issue. If anyone is interested, I will gladly tell you.

Merrill Edge is a regulated broker and this is a key advantage. I'm tired of fighting with financial scams that promise a bunch of everything, and then don't fulfill the agreement at all. This is not the case with Merrill Edge, but there are some trade nuances to consider. Commission fees are rather big here when compared to other brokers. In addition, non-trading costs are charged here, such as payments for termination of payment, cancellation of a check, overdue exchanges, and others.

Merrill Edge is a proven broker, with regulators and a strong client base. As for investing directly, there are several points to note. Merrill Edge is not suitable for active trading, but if you plan to invest in securities, then pay attention to it. I have already earned more than $10,000 here, and I plan to continue cooperation.

The Merrill Edge broker has a lot of bureaucratic problems, ranging from a complicated registration procedure to the fact that the company wants to cooperate only with US residents. The platform itself does not have a user-friendly interface, thus it takes a long time to get used to it. Besides, I was not satisfied with the quality of the support team's work. The impression they give is that I am demanding money from them, and not simply asking for advice. I decided that it was necessary to look for an alternative option since cooperation with this broker did not work out for me.

With Merrill Edge, you can be 100% confident. I’ve been working with this broker for two years and see that this is a good deal. The broker treats green newbies well, so don't worry about starting here as a novice. The platform provides a well-stocked library full of webinars, training videos, and trading articles. To increase the profitability of your investment portfolio, I recommend that you immediately contact the employees of this brokerage organization. Only professionals work here; they will teach you how to trade correctly. There are no restrictions on the number of assets, and it is equally comfortable to manage them all from a PC or a mobile phone.

Author of this Review

Merrill Edge broker’s review prepared by

John Davis

Traders Union Author and Analyst

John Davis is a Financial and Economic Analyst working with the Traders Union since 2016. During this time, he has written more than 100 analytical articles on technical and fundamental analysis, reviews of financial companies and has developed more than 10 proprietary trading systems. John's motto is to help everyone go from a novice to a professional trader.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Do reviews by traders influence the Merrill Edge rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about Merrill Edge you need to go to the broker's profile.

How to leave a review about Merrill Edge on the Traders Union website?

To leave a review about Merrill Edge, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about Merrill Edge on a non-Traders Union client?

Anyone can leave feedback about Merrill Edge on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

Why is it more profitable to work with Merrill Edge through Traders Union?

Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.