Merrill Edge Account Cancel Fee (non-IRA)
Merrill Edge does not charge fees for account termination for individual or joint taxable (non-IRA) brokerage accounts (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 close an account.
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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 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 that the broker offers free trades every month to customers who have at least $25,000 on deposit with Bank of America or Merrill Edge. If you’re an
active trader, check out Firstrade that offers $0 trades with no conditions.
Merrill Edge ACAT Fees
To move your Merrill Edge account to another brokerage house, Merrill Edge will charge you $49.95 fee for full account transfer.
Partial account transfers are no charge.
Merrill Edge Top Competitors
| Broker Review |
Stock/ETF
Commission |
Mutual Fund
Commission |
Options
Commission |
Maintenance
Fee |
Annual IRA
Fee |
|
Ally Invest
|
$4.95
|
$9.95
|
$4.95 + $0.65 per contract
|
$0
|
$0
|
|
TD Ameritrade
|
$6.95
|
$49.95
|
$6.95 + $0.75 per contract
|
$0
|
$0
|
|
Firstrade
|
$0
|
$0
|
$0
|
$0
|
$0
|
About Merrill Edge
Merrill Edge is a discount brokerage firm created by Merrill Lynch, which is now owned by Bank of America. The company offers self directed
accounts, and charges about an average in the industry rate of $6.95 per trade for stocks and ETFs. Mutual funds are priced at $19.95 per transaction.
Unlike some other online brokers, Merrill Edge does not impose surcharges on large orders, penny stocks, or extended-hours trading. There are no
maintenance or inactivity charges for all accounts. The firm offers free dividend reinvestment program, investment research from six firms, and
easy integration with banking services provided by the parent company.
The one thing that makes Merrill Edge self directed account stand out from the competitors is an offering of 30 free stock or ETF trades per month
for customers who have Bank of America checking account with a 90-day average balance of $50,000.
How To Close Merrill Edge Account Disclaimer
For the most recent information on Merrill Edge account closing cost and how to close Merrill Edge investing, IRA accounts, visit their website.
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