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How To Cancel Merrill Edge Account. Transfer Account and ACAT Fee 2019

Merrill Edge account closing fee, ACAT cost, address. How to close Merrill Edge brokerage investing or IRA accounts online. Merrill Edge stock trading account termination, canceling fees.

Merrill Edge Account Closure 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 cancel 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 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 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 Top Competitors

Broker Review Stock/ETF
Mutual Fund
Annual IRA
Ally Invest $4.95 $9.95 $0 $0 Up to $3,500 cash bonus + commission free trades for new accounts.
TD Ameritrade $6.95 $49.95 $0 $0 Trade free for 60 days + get up to $600.
Firstrade $0 $0 $0 $0 $0 commissions + up to $200 in transfer fee rebates.

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.

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".