Merrill Edge for Non-U.S. International Residents (2025)

Is Merrill Edge only for US citizens? Can non US citizens open a Merrill brokerage account? Merrill Edge international account for non US residents

Merrill Edge for Non-US Investors

Important points:

• Non-U.S. citizens can open brokerage accounts at Merrill Edge.

• A permanent address in America is required of both U.S. citizens and non-citizens to open any type of account with Merrill Edge.

• Firstrade is a viable alternative for folks who don’t have a permanent residence in the United States.

Overview of Accounts at Merrill Edge for non-Americans

Merrill Edge does open accounts for people without U.S. citizenship, although there are lots of caveats and hurdles. Here’s the full scoop:

Details on Accounts for Foreigners at Merrill Edge

Merrill Edge opens investment accounts for U.S. and non-U.S. citizens. In both cases, applicants must have a permanent address in the United States. This rule is non-negotiable. Not only is legal residency required in the United States, it must be maintained. If legal residency is ever lost for any reason, Merrill Edge retains the right to forcibly liquidate and close the account.

Another rule that is non-negotiable: non-Americans must have a visa or a Green Card (permanent residency). In either case, a passport is required as well. Visa holders without a Green Card cannot open retirement or investment-advisory accounts. And some visas are not eligible for account opening at Merrill.

A third rule that must be followed: Merrill Edge requires a Social Security Number for any account. The SSN format (xxx-xx-xxxx) is the only format on its application, so other tax ID numbers cannot be used.

merrill lynch non us citizen

Opening an International Account at Merrill Edge

For both Americans and foreigners, Merrill Edge offers a user-friendly website and mobile app. Either software platform can be used to open a new account, although a login is required first on the mobile app (a Merrill investing account can be opened without a login on the Bank of America app).

On the website, simply click on the red button to open an account. Follow the prompts to choose the specific type of account you want. Next, follow the on-screen prompts to provide all required information. On the Bank of America mobile app, open the app and scroll down to the bottom. There is a tile to open an account. Tap on this and follow the on-screen instructions.

Unfortunately, only Green Card holders can open accounts online. Visa holders must open their accounts over the phone. The required number is (888) 468-0353.

In order for any international account to be approved, copies of the applicant’s passport, visa, and/or Green Card must be provided to Merrill.

Minimums and Fees for Merrill’s International Account

Merrill Edge imposes the same pricing schedule on international accounts. This means many trades have zero commissions, and there are no account minimums. An IRA does have a $49.95 closeout fee.

Firstrade as an Alternative

Obviously, Merrill Edge won’t work for many potential investors around the world. There is one workaround we know of: Firstrade. This brokerage firm around the globe, not just the United States. Examples include:

Finland
Israel
Malaysia
China
United Kingdom

And a Social Security Number is not required, either. An application is required, of course. Firstrade requires images of the applicant’s passport. Thankfully, these can be uploaded with the digital application, so it’s really convenient. A tax ID number of some kind must be supplied, too.

On the first page of Firstrade’s international application, a phone number must be provided. A country code from any eligible country can be used, which is another convenient policy.

Like Merrill Edge, Firstrade does not impose any draconian minimums or fees on international accounts. Commissions on most products are zilch.

An advantage of Firstrade over Merrill for global traders is the lack of an IRA closeout fee. Another advantage is language: Firstrade’s website can be used in traditional or simplified Chinese. Merrill’s site, by contrast, is only available in English.

On the downside for Firstrade, the investment firm offers no managed accounts.

Free Firstrade Account

Visit Firstrade Website

Merrill Edge For Non-U.S. Residents Judgment

Both Merrill Edge and Firstrade offer accounts for foreigners in different ways. A global account at either firm can be managed through a website and mobile app, and it can be funded online as well. Both firms accept incoming wires from foreign bank accounts, and an ACH deposit is always a possibility from a U.S.-based checking or savings account.

Updated on 2/24/2025.

About the Author

Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.