Merrill Edge Stocks and ETF Commissions
|
Online Trades
|
$0
|
|
Representative-assisted trades |
$29.95 |
Merrill Edge Options Commissions
|
Online trades |
$0.65 per contract |
|
Representative-assisted trades |
$29.95 + $0.65 per contract |
Merrill Edge Mutual Funds Commissions
|
Load Waived, No Transaction Fee Funds (NTF) |
No charge per transaction |
|
No Load, No Transaction Fee Funds (NTF) |
No charge per transaction |
|
No Load, Transaction Fee Funds (TF) |
$19.95 per online transaction
$29.95 per representative-assisted transaction |
NTF Short-Term Redemption Fees
(if held less than 90 days) |
$39.95 |
|
Load Funds |
See prospectus for fund's sales charges
No transaction fees |
|
Intra-family exchange |
No charge |
Merrill Edge Promotion
Open Merrill Edge Account
Fixed Income
|
U.S. Treasury: Bills, Notes, Bonds |
Price and yield as quoted |
|
Agency: Discount, Notes, Bonds |
|
Zero Coupon Bonds: Corporate, Government, Agency |
|
Municipal Bonds |
|
Corporate Bonds |
|
Brokered Certificates of Deposit |
Merrill Edge IRA Fees
| Fee |
Amount |
| Merrill Edge IRA setup fee |
$0 |
| Merrill Edge annual IRA fee |
$0 |
| Merrill Edge IRA termination fee |
$49.95 |
| Merrill Edge account maintenance fee |
$0 |
| Merrill Edge account inactivity fee |
$0 |
| Merrill Edge outbound full account transfer (ACAT) fee |
$49.95 |
| Merrill Edge outbound partial account transfer fee |
$0 |
Merrill Edge Margin Rates
|
Debit Balance
|
Margin Interest Rates
|
|
$250,000+
|
call 855.332.5920
|
|
$100,000 - $249,999
|
call 855.332.5920
|
|
$25,000 - $99,999
|
call 855.332.5920
|
|
under $25,000
|
call 855.332.5920
|
Merrill Edge Base Lending Rate (BLR)
The Merrill Edge Base Lending Rate (BLR) is 7.00%.
Cash Management Accounts Fees
|
CMA Annual Account Fee
|
None |
|
Minimum Initial Funding Requirement |
$0 |
|
Account Transfer Fee |
$49.95 |
College Investing Fees
|
NextGen Direct 529 |
|
Annual Account Fee |
None |
|
Minimum Initial Funding Requirement |
$25. Initial funding may not be required for certain grant-eligible Maine residents. All fees and expenses
are described in the
Program Description
|
|
Closeout Fee |
None |
|
UGMA/UTMA Custodial |
|
Annual Account Fee |
None
|
|
Minimum Initial Funding Requirement |
$0 |
|
Account Transfer Fee |
$49.95 |
Merrill Edge Business Accounts Fees
|
WCMA/BIA Account Annual Account Fee |
None |
|
Minimum Initial Funding Requirement |
$0
|
|
Account Transfer & Closeout Fee |
$49.95 |
Additional Merrill Edge Fees
|
Merrill Edge CMA Access Visa card |
No charge |
|
ATM Transaction Fee |
No charge
Some ATM owners/operators may charge a fee for the use of their machines.
|
|
Visa International Transaction Fee |
2% of the U.S. dollar amount of all transactions occurring outside the U.S. that
are submitted to Visa in a currency other than U.S. dollars |
|
Visa cash advance fee (non-ATM) |
0.25% of principal ($2.50 minimum) |
|
Checkwriting |
No charge
|
|
Additional Check Printing |
No charge |
|
Bill Payment |
No charge |
|
Cancelled Check Fee |
$3 |
|
Returned Check Fee |
$30 |
|
Stop Payment Fee |
$25 |
|
Returned ACH Debit Fee |
$30 |
|
Partial Account Transfer |
No charge |
|
Wire Transfer Fee |
$24.95 Domestic or International |
|
Register & Ship (Delivery Non-Government Security) |
$25 statement of security ownership (DRS Eligible)
$500 physical certificate of security (Non-DRS Eligible) |
|
Government Security Transfer Fee |
$125 |
|
Fund Transfer Services Returns |
$10 |
|
Trade Confirmation Copy Request |
$3 |
|
Overnight Mail (for Mandatory Retirement distributions only) |
No charge |
|
Return Deposits |
$20 |
|
Overnight Mail Request |
$25 |
|
Bond Coupon Deposit Fee |
$5 |
|
Past Due Exchanges |
$50 |
|
Security Reorganization |
$30 Voluntary |
|
Paper Statement Request |
$5 per statement |
|
Full Account Transfer Fee (ACAT Fee) |
$49.95 |
Please note that fees and commissions apply only to Merrill Edge self-directed
investing accounts. These do not apply to any other Merrill Lynch, Pierce,
Fenner & Smith accounts.
Merrill Edge Comparison
Merrill Edge Review and Website Link
Read full
Merrill Edge Review.
Merrill Edge fees are as of 2023 and are subject to change. For the most recent information on Merrill Edge fees go to their website:
Merrill Edge IRA Overview
Merrill Edge, or ME, is the on-line retail brokerage arm of Merrill Lynch Bank of America. Merrill Lynch is known for its expert personalized service to high net worth and ultra
high net worth clients, with the average account holder having $250,000 to $1,000,000 on deposit. For those of us with less than the minimum amount for a private
wealth manager, Merrill Lynch offers Merrill Edge.
Merrill Edge is essentially a discount brokerage firm designed to compete with TD Ameritrade, and other brokers offering low priced trades. The difference
that set Merrill Edge apart is simple: the owner of a Merrill Edge account enjoys not only low account minimums, but equity trades for the budget conscious with access
to the full array of the same equities and mutual fund research as a full service account. For those that perform more than just casual research Merrill Edge
potentially have a lot to offer. Where other discount brokers rely on outside sources for research, Merrill Edge provides its account holders with in house research,
which has in the past won awards for quality... well, until the company almost went bankrupt and got saved at the last minute by the US government.
Merrill Edge now charges $0 commission for stock and ETF trades, and $19.95 for mutual fund transactions. The firm does not have an annual IRA and
setup IRA fees. Minimum to open a retirement account is just $250.
The buying and selling of equities in a Merrill Edge account is easy and intuitive. In order to do this, the account holder would toggle to the “Trade”
tab (after accessing information on the “Research & Insights” tab) and select “Buy” or “Sell.” The stock Symbol would then be entered as well as the quantity of shares.
Next the Order type is selected, Preview Order, then Fill Order.
Mutual fund buying is just as easy, but without the option to sell a fund short or enter a limit order. Mutual fund orders go in at the end of the day, and are
usually posted to the account holders balance by 5:00 PM Eastern that day.
Merrill Edge offers an App for the iPhone that allows for the scanning of a check that is to be deposited into the brokerage account. The scanning of a check takes
the place of mailing in a check to Merrill Edge’s offices, and greatly speeds up and simplifies paper check based deposits. Of course, the simplest way is to deposit
a check into a brick and mortar bank, wait for the check to clear overnight, and then use the transfer funds feature to move the money from the bank to the Merrill Edge account. This method is by far the one that gives the account holder a sound feeling that the deposit will arrive in time and with good funds, ready to trade.
Conclusion
Merrill Edge provides basic selection of IRA accounts, which is unusual for such a big company.
The brokerage firm has decent trading tools and spotty customer service. It is still a good choice for an IRA account but there are better options available.
Arthur Chachuna is professional personal finance blogger, and the owner of Brokerage-Review.com.
He has been an avid investor for 23 years, and has background in both applied math and programming.
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