Merrill Edge Review

Merrill is an excellent platform that is provided by Bank of America, it aims at providing customers with a platform for casual trading. The customer support is pretty good, they also have a Market Pro platform, which includes streaming data and more power chatting capabilities. If a customer trades often or he/she manages to have a balance that totals up to $1,000,000 he is given access to NASDAQ level II quotes and Market Depth.
Elen Palmer
October 22, 2019

Merrill Edge: Fees, Apps, Comissioms

They have plans to expend these quotes and Market Depth within this year. Marketers who trade frequently should consider checking Market Pro.
What is Merrill Edge Best for?
  • Merrill Edge is pretty good for penny stock traders.
  • Loyal customers of Bank of America.
  • Commission fee trading.
  • Anyone who values exceptional customer service.
  • High-balance customers.

Who is Merrill Edge for?

Merrill Edge is a big trading platform and is available for any occasional trader, plus it is pretty good for the beginners. The platform deals with different online investments that include things like ETF stocks, bonds, option contracts, stocks, and mutual funds. Like many platforms, Merrill edge does not offer future or forex trading, so a trader will have to look elsewhere if his/her mission was forex trading. The Merrill edge fees are manageable, and one can be able to afford it and also include his/her family in the plan.

Most people who use the platform don't have any complaints about the platform and they certainly hadn't had a problem with their fee because those are pretty affordable. Merrill Edge is an online platform that a lot of people love, and it dominates the market a great deal.

Bank of America Customers

Bank of America is the mother company to Merrill, and they get to enjoy some extra perks. For example, a customer of Bank of America can enjoy instant account transfer from his bank of America account to the Merrill account. The BoA customer also gets to enjoy investing support of the more than 2,000 Bank of America locations.

Penny Stock Traders and Large Account Traders

Market traders who have some experience in the market, using Merrill edge is a wise decision. This is because are no surcharges for stocks that trade under a dollar, and that means one can get to save some extra bucks, if he trades on such stocks. For the larger account traders, (traders who invest 2500 dollars and above), they should look forward to making use of the Market Pro premium and get to enjoy up to 30 free trades each month.

Having said that, Merrill edge might be critical for an average trader, and even though the fee and everything are at par with most online platforms, one might be frustrated by some small things like the dated sluggish website and the lack of no-fee ETFs, among other things. An average day trader expects a flawless website, and some few problems can discourage him/her a lot.

Merrill Edge Commissions and Fee

Merrill Edge has fees that are more of the same with other brokerages available in the market. It will require one to pay a fee of 6.95 dollars for every trade commission on all ETF and stock trades. Merrill does have a 30% commission fee for ETFs for those who trade over 25,000 dollars per month on their Merrill edge accounts or in their bank of America accounts. That's the good news. The bad news is that Merrill edge account does not have no-fee ETFs like most of the online brokerages available in the market, and this can be a deal-breaker for most of traders.

The account has the benefit of minimum balance or inactivity fee, so there are no preferred deposits that one has to make to operate the account, which again makes it better for the beginners. The contract fee for Merrill edge account is more of the same with their competitors, so one can expect to pay a fee of 0.75 dollars for every contract. Bear in mind that you will still need to pay the standard fee of 6.95 dollars.

Merrill Edge Platform and their Tools

Merrill is a good platform for most investors, and it is an easily accessible option for anyone looking to manage his/her portfolio with the help of fantastic tools and advice from professionals. To make it even better, the edge users can enjoy these services on their mobile devices by making use of their app, which is compatible with Android and iOS.
Pros and Cons of Merrill Edge
Pros of Merrill Edge :

  • One gets to direct his or her investing plans.
  • No purchases for stocks trading under one dollar.
  • Seamless integration with the bank of America.
Cons of Merrill Edge:

  • Not the best user interface in the world, it is slow and kind of old school.
  • They lack no-fee ETFs.

Market Pro Option from Merrill Edge

You may have noticed the mentioning of the market pro option, it is recommended to all Merrill edge customers, and it is time you get to understand more about it, so that you can make a decision. Merrill Edge offers this premium market pro service that comes along with streaming quotes and interactive charting tools, as well as alerts and indicators. It is a perfect option for traders who are active in their Merrill accounts, as well as for those with large cash accounts that have more than 25,000 dollars.

For the hardcode traders, the market pro option may be a problem to them because it is a browser-related website that runs off Java programming, hence limiting the ability to swiftly act as one should.
All in all, IQ Option is a better platform for Forex beginners; and Forex PRO is better than this platform for professionals. Try it today, and you will be happy you did.

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