3-star brokerage firm rating

SogoTrade review
3-star brokerage firm rating

Merrill Edge review 2012


Merrill Edge vs Sogotrade

Sogotrade vs Merrill Edge: Commissions and Investments 2012




Sogotrade
Merrill Edge
  • Stocks and ETFs: $3
  • Stocks and ETFs broker assisted: $25
  • Options: $5 plus $0.50 per contract
  • Options broker assisted: $25 plus $0.50 per contract
  • Options exercise/assignment: $15
  • No-load mutual funds: $15
  • Investment products: stocks, options, mutual funds, ETFs
  • Minimum to open Sogotrade account: $500
  • All Sogotrade fees
  • 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 login




Sogotrade vs Merrill Edge: Pros



Sogotrade
Merrill Edge
  • Very low commissions
  • Fractional shares available with no monthly subscription fee
  • No inactivity, maintenance fees (accounts with over $100)
  • Free trades if meeting certain conditions
  • Free checking account
  • Great research tools
  • Free DRIPs (have to call to get it)



Sogotrade vs Merrill Edge: Cons



Sogotrade
Merrill Edge
  • For stocks priced under $1, the online commission is $3 plus 0.5% of the principal value
  • Terrible trade executions
  • Poor trading platform
  • Frequent technical problems
  • Very slow new account set up process
  • Hard to reach, unresponsive customer service
  • $30 annual IRA fee
  • Can't short stocks under $3
  • Cannot invest in CDs and bonds
  • No interest on cash
  • High margin rates
  • Limited, badly designed trading tools and charts
  • Terrible executions
  • Account balance discrepancies
  • Technical issues
  • Customer service complaints
  • Mutual funds Self-Directed Short-Term Redemption fee if held less than 90 days: 0.75% gross proceeds, $50 minimum, $250 maximum



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Merrill Edge review 2012

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