Merrill Edge Account Closure Fee (non-IRA)
Merrill Edge charges $0 fee to close an account (individual or joint taxable non-IRA brokerage account.) See
Merrill Edge Top Competitors.
Merrill Edge IRA Account Closing Fee
At Merrill Edge non-taxable (also known as IRA) accounts have a $49.95 charge to cancel an account.
If you move your account to
Ally Invest,
they will reimburse this ACAT fee.
Promotions
See Investment Firms Promotions »
How To Close Merrill Edge Account
If you’re no longer using your Merrill Edge account, it’s time to go ahead and close it. You should send a closure request to the broker by logging into the
Merrill Edge site and using the internal messaging system. You could also call the broker at 1-877-653-4732 and speak with a live agent. If you’re outside
the United States, you should call 1-609-818-8900 instead.
Unlike TD Ameritrade or Fidelity, Merrill doesn’t provide on-line chat, nor does it operate a nationwide network of branch locations. Merrill can be contacted through its mobile app.
Keep in mind that Merrill Edge charges $49.95 to close a retirement account. The broker does not charge anything to close a taxable account. Transferring a full account of any type incurs a $49.95 fee, although it’s not charged in addition to a closeout fee. The broker charges nothing for partial transfers.
Before you close a Merrill Edge account, don’t forget to sell all your positions and transfer cash
out to your bank account. You can also transfer full or part of your account out.
Merrill Edge Top Competitors
Merrill Edge ACAT Fees
To move your Merrill Edge account to another brokerage house, Merrill Edge will charge you $49.95 fee for a full account transfer.
Partial account transfers are no charge.
Selling Stocks on Merrill Edge
At some point you will want to sell one or more of your stock positions on Merrill Edge. Research the stock again and decide if it's time to sell. You can sell some shares or all.
Under the 'Accounts' tab, click on 'Account Holdings'. Your stock position will be displayed on the following page. Click on the down-arrow icon and choose 'Sell'. Here, the same order form you used to buy the stock will be displayed. Fill out the form using the same steps above. Remember to choose sell this time. If you use a limit order, be sure to set the lowest amount you're willing to take instead of the highest amount you're willing to pay, which is the buy-side method.
Once all the relevant fields have been filled in, submit the order and verify that it is executed. Congratulations, you have now made what it is called "round trip".
|