Merrill Edge Review: Commission-Free Trading and More

Merrill Edge might be the online investment brokerage for you.

If you like online trading and want to invest on your own terms, Merrill Edge online investing makes it easy. You can take advantage of resources and tools to help you reach your financial goals and choose from different types of investment products, from stocks and bonds to options and ETFs. With the platform’s user-friendly online investing and trading processes, you can easily build a balanced portfolio.

Find out more about Merrill Edge and decide if its online investment account is right for you.

Merrill Edge at a Glance

These are some of the highlights of investing through Merrill Edge:

  • One of the top global research firms from 2001 to 2017, according to Institutional Investor
  • Thousands of mutual funds, ETFs, stocks, bonds and other investment products
  • Educational tools to help you make informed decisions
  • Commentary on market conditions
  • 24/7 step-by-step guidance
  • Merrill Edge investing and Bank of America account linking to manage accounts online and via mobile device; instant transfers between accounts with only one login
  • Special offer: up to $600 for investing in a new Merrill Edge account

Read: Pros and Cons of Online Trading

Every company has advantages and disadvantages. Here’s a look at Merrill Edge’s so you can better decide if it’s right for you.

Merrill Edge
ProsCons
  • No annual fee
  • No minimum initial investment for simple, online investment and trading
  • Preferred Rewards for eligible Merrill Edge investment and Bank of America banking account balances
  • Special benefits such as $0 online equity and ETF trades, priority customer service and Merrill Edge MarketPro access
  • Simple, flat-rate pricing with up to 100 trades per month for free if you qualify; $6.95 for stocks and ETF trades; $29.95 for representative-assisted trades
  • Can qualify for $0 trades with Preferred Rewards
  • Wide range of investment options
  • Sales subject to a transaction fee of between 1 cent and 3 cents per $1,000 of principal
  • Costs associated with owning ETFs

What You Need to Know About Merrill Edge

Best for: Those who want commission-free trading and great customer service. Bank of America customers are also good candidates because Merrill Edge offers seamless integration with the bank.

Merrill Edge’s Best Features

Take a look at some of Merrill Edge’s stronger features to see if they fit your needs:

  • Full suite of online investment and trading options
  • No annual fee
  • Get up to $600 when you invest in a new Merrill Edge account

Related: How Much Money Do I Need to Get Started in Investing?

Merrill Edge’s Other Notable Features

Here are some other services and perks to consider when looking at investing through Merrill Edge:

  • Access to optional Merrill Edge Guided Investing and Merrill Edge Financial Solutions Advisor programs
  • Preferred Rewards which grants you rewards with Merrill Edge and Bank of America like a 0.25 percent auto loan interest rate discount, unlimited no-fee ATM transactions and more, depending on the tier you qualify for

What You Can Do With Merrill Edge

The Merrill Edge brokerage platform is a starting point for new or occasional investors who are interested in stocks, ETFs, bonds, mutual funds and options contracts. You might also like the fact that Barron’s voted it one of the best online investment sites from 2014 to 2018. Because Merrill Edge does not have any futures or forex trading options, if you’re a commodity or currency trader, it might not be a good fit.

Up Next: The First Step in Investing Your Money

More on Investing

This content is not provided by Merrill Edge. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Merrill Edge.

GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier banks, credit unions and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met in order to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account.