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Free Online Trading
Merrill Edge is offering a possibility of free online trading - 30 free trades per month - for clients that meet certain criteria.
We believe it's a temporary offer that will be discarded as soon as the company builds sufficient client base.
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Merrill Edge Account Commissions, Fees and Investment Products (2012)
- Stocks and ETFs: $6.95
- Stocks and ETFs Agent assisted: $44.95; Automated phone trades telephone system: $32.50
- Options: $6.95 + $0.75 per contract
- No Load, Transaction Fee Funds (TF) Mutual Funds: $39.95 per transaction
- Merrill Edge Self-Directed Mutual Funds: 0.75% gross proceeds, $50 minimum, $250 maximum
- Investment products: stocks, bonds, mutual funds, options, ETFs, Bills, Notes, Bonds. Agency: Discount, Notes, Bonds. Zero Coupon Bonds: Corporate, Government, Agency
Municipal Bonds, Corporate Bonds, Brokered Certificates of Deposit
- Minimum to open Merrill Edge account: $0
- All Merrill Edge fees
Merrill Edge is a new discount brokerage created by Merrill Lynch, which is now owned by Bank of America. The company charges $6.95 per trade
for stocks and ETFS. It also offers 30 free trades per month for customers who meet any one of the following criteria:
1. Combined total of $25,000 or more in your deposit accounts at Bank of America, N.A. When you make a trade, MLPF&S determines whether you meet
the balance requirement to qualify that trade for the $0 waiver. MLPF&S adds the average collected balances in your deposit accounts as of
the prior month to the balances in your bank CD and IRAs as of the prior business day. Bank deposit accounts with the same social security
number (SSN) as the (SSN)(s) on the self-directed brokerage account are systematically included in the balance determination. If this
calculation reflects a combined total of less than $25,000, a second calculation is made. To determine the 30-trade limit, MLPF&S adds the
qualifying trades in your individual accounts and joint accounts. Commission fees apply when the balance requirement is not met, or when
you exceed 30 qualifying trades a month. Brokerage fees associated with, but not limited to, margin transactions, option trading, special
stock registration/gifting, account transfer and processing, account maintenance, research request and termination apply.
Relationship requirements and pricing are subject to change.
2. Or combined balance of $25,000 or more in cash balances in one or both of the following sweep options in your Merrill Edge self-directed
account(s) as of the prior business day:
- Bank Deposit Accounts sweep option with your CMA
- Retirement Assets Savings Program II sweep with your IRA
This offer does not apply to Business/Corporate Accounts, Investment Club Accounts, Partnership Accounts and certain fiduciary accounts held
at MLPF&S.
We don't see how a brokerage firm could make any money with these free trades. We believe Merrill Edge's free trades is the same marketing
trick that Zecco used to grow a customer base, and then dump free trades offer once it's done.
Optionshouse charges just $3.95 per stock/ETF trade and offers 100 free trades for new account. Promotion link:
OptionsHouse
With TD Ameritrade new customers could trade for Free for 60 Days + get up to $500. Promotion link: Join TD Ameritrade. Trade free for 60 days + Get up to $600
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