Overview
Merrill Edge is the online brokerage arm of Merrill, which is owned by Bank of America. It launched in 2010 and suits US investors who want commission-free stocks and ETFs with good research, and especially people who already bank with Bank of America. Accounts are held with MLPF&S, a broker-dealer registered with the SEC and a FINRA and SIPC member, so your account is covered by SIPC up to $500,000, including $250,000 in cash. It's only open to US residents.
Accounts and costs
Merrill Edge Self-Directed has no minimum deposit and charges $0 for online stock, ETF and options trades. Options still carry $0.65 per contract, and a broker-assisted trade costs $29.95. Bonds are $1 each with a $10 minimum, while new-issue CDs and Treasurys trade online for free. You can apply for margin once you have $2,000 in the account. If you'd rather not pick investments yourself, Merrill Guided Investing starts at $1,000 and charges 0.45% to 0.85% a year, and the version with an advisor starts at $20,000. IRAs, custodial and education accounts are available too. There's no inactivity fee, but moving your whole account out costs $49.95.
Platforms and markets
You trade on the website, the mobile app or MarketPro, Merrill's desktop-style platform with real-time data and charting. There's no TradingView connection. The range covers US stocks, ETFs, mutual funds, options, bonds and CDs. There are no futures, forex, crypto or fractional shares, so it's an investing account more than a day trading one.
Money in and out
You fund by bank transfer, either ACH or wire. Withdrawals are free by EFT, ACH or check, though a check can take 5 to 7 business days.
Good
- $0 commission on online stock, ETF and options trades
- No account minimum and no inactivity or withdrawal fees
- Strong research from Bank of America Global Research
- Preferred Rewards perks for Bank of America customers
- IRAs, custodial and education accounts alongside regular brokerage
Watch for
- Only open to US residents
- No futures, forex or crypto
- No fractional shares
- $49.95 fee to transfer your whole account out
- MarketPro and the mobile app feel dated for active trading
Accounts and costs
What each account needs to open and what you pay to trade on it.
| Account | Min deposit | Pricing | Max leverage |
|---|---|---|---|
| Merrill Edge Self-Directed | None | $0 online stock, ETF and options trades; options carry $0.65 per contract; broker-assisted trades $29.95 | Margin available with at least $2,000 in the account |
| Merrill Guided Investing | $1,000 | Managed portfolio with an annual fee of 0.45% to 0.85% depending on account size | — |
| Guided Investing with an advisor | $20,000 | Managed portfolio with access to an advisor | — |
Regulation
Which entity holds which licence. Your protection depends on the entity you open an account with.
Investor protection: SIPC up to $500,000 per account, including up to $250,000 in cash
Platforms and markets
Platforms
Markets
Deposits and withdrawals
- Methods
- Bank transfer
- Minimum deposit
- None
What traders say
Scores from the sites traders use, and our summary of what they're saying, checked 6 October 2026.
Merrill Edge scores poorly on open review sites, though the pool is small for a broker of its size. It holds 1.3 on Trustpilot from 125 reviews and 1.4 on Sitejabber from 70. Trustpilot notes that Merrill Edge does not invite reviews, so the page leans towards people with a problem. Reddit is more balanced: buy-and-hold investors who use it for Bank of America Preferred Rewards tend to call it fine, while active traders are much harsher.
What traders like
Bank of America integration. The most common reason people on Reddit give for staying is Preferred Rewards status and moving cash between Merrill and BofA accounts.
Fine for simple investing. Several Bogleheads and r/MerrillEdge posters say it does the job for long-term index investors placing limit and market orders.
Research and a clear website, mentioned by longer-standing customers.
Common complaints
Accounts frozen or closed for review. Several Reddit and Sitejabber posters say accounts were locked for risk reviews with little explanation, and that getting money out took weeks; one Sitejabber reviewer says a joint account was liquidated.
Paperwork for inherited and transferred accounts. A number of Trustpilot reviewers describe repeated notarised forms and slow transfers when settling a relative's account or moving an IRA.
The trading platform. Active traders on Reddit call MarketPro clunky, and several mention trade restrictions placed on options or speculative stocks.
Slow back-office support, such as days to send a wire or link an external account.
Low interest on uninvested cash, raised by reviewers and in a 2023 lawsuit.
Recently
July 2026: new Trustpilot reviews complain about trading blocks on a transferred retirement account and repeated paperwork on an inherited account. Nothing else dated in the last 90 days.
Where this comes from
Trustpilot: the main review page.
Sitejabber: customer reviews, mostly negative.
Forex Peace Army: a listing page with little review activity.
r/MerrillEdge: the customer subreddit, plus threads in r/Bogleheads and r/options.
Verified reviews
Reviews from traders who've connected an account at Merrill Edge to Chartnaut, so you know they actually traded there. Opening soon.