|
|
Merrill Lynch vs TradeKing
|
Merrill Lynch Brokerage does not exist anymore. Bank of America purchased Merrill Lynch and together they created
new online broker called Merrill Edge (Merrill Edge Review).
To compare TradeKing and Merrill Edge, read
TradeKing vs Merrill Edge review.
Merrill Lynch or TradeKing: Trading Fees and Investments 2012
|
|
- Stocks and ETFs: $4.95 (for stocks/etfs priced over $2)
- Options: $4.95 plus $0.65 per contract (for up to 8 contracts) OR $4.95 plus $0.65 per contract (for over 8 contracts)
- Short options valued at 5 cents or less, can be bought to close these positions for no charge (commission free)
- Multiple legs will only be charged one base price of either $4.95 or $8.95, depending on how many total contracts are involved
- Mutual Funds: $9.95
- Bonds: $4.95 per bond ($14.95 minimum)
- Treasuries: $24.95 per transaction
- Certificates of Deposit (CDs): $24.95 per transaction
- Investments: stocks, options, mutual funds, bonds, CDs, treasuries, ETFs
- Minimum to open TradeKing account: $0
- All TradeKing fees
|
- Stocks and ETFs: $29.95 for limit orders; $14 market orders
- Options: expensive with complicated structure
click here to see it
- Investment products: stocks, bonds, mutual funds, options, bills, notes, munis, CDs, corporate bonds, ETFs,
annuities
- Minimum to open Merrill Lynch account: $2,000
- All Merrill Lynch fees
|
|
|
- Great commissions
- No minimums, maintenance or hidden fees
- Free real time quotes
- Award-winning trading tools
- Best rated customer service
- Low margin rates
- Best online investor community
- Fee-free IRAs
- Extensive educational resources
|
- Many investment products
- Participation in IPOs, if you have 100K account balance (not guaranteed)
- Free checking account
- Free Visa debit card
- 600 offices nationwide
|
|
|
- Additional $0.01 per share on the entire order of stocks priced less than $2
- $50 annual inactivity fee if BOTH apply to an account(s):
- Combined account value of the household account(s) is less than $2,500
- No commission-charged trades have been executed in the account(s) during the last 12 months
|
- Highest commissions of all stock brokers
- Additional $0.03 per share for orders of over 1,000 shares
- Account maintenance fee: $25/quarter (waived if 25K balance or make 2 trades in 6 months)
- Annual custodial fee of $50 for IRA and ROTH IRA accounts (waived if $20,000 in assets at Merrill Lynch)
- Mutual fund Short-Term redemption fee if held less than 180 days: $50-$250
- Optional Exchange Fee: $30. Mandatory Exchange Fee: $50
|
TradeKing vs Merrill Lynch: Comparison Summary
This comparison is easy:
TradeKing (TradeKing reviews)
outshines Merrill Lynch
(Merrill Lynch Review)
in just about every category except for range of investment products offered and banking services.
The firm offers low, flat-rate $5 per trade commissions on stocks and ETFs. Merrill Lynch charges steep $29.95 for the same products.
Tradeking is a head above in customer service, trading tools and research.
Merrill Lynch offers richer array of investment products, free checking account and debit card as well as offices where
clients could come and talk with someone face-to-face.
Unlike Merrill Lynch, TradeKing has no maintenance and IRA fees as well as no surcharge for shares over 1,000. In fact,
the firm is one of our Top Rated Companies for IRA Account
and it's also one of our Best Online Brokers.
TradeKing is also one of the very Best Brokers For Beginner Investors:
it has lots of learning materials, vibrant and helpful trader community. We strongly recommend it for people
who are new to investing.
Because of drastically better commissions, trading tools and customer service, we strongly recommend TradeKing over Merrill Lynch
to all investors. We also encourage visitors to read consumer brokerage reviews.
|
|
|
|
|
|