Merrill Edge

Merrill Edge reviews conducted by TopForexBrokers.com experts for those want to invest with the Bank of America Merrill Edge brokerage, All you need to know about Merrill Lynch bank like Merrill Edge 401k accounts or how to do Merrill Edge login, You will also know about Merrill Edge customer service and Merrill Edge benefits. Multiple brokerage reviews and additional Merrill Lynch review are available on the TopForexBrokers.com website.  

Bank of America Merrill Edge Review

The brokerage firm known as Merrill, Lynch, Pierce, Fenner & Smith (MLPF&S) has offered brokerage services for many years and is now a wholly owned subsidiary of Bank of America, N.A., which is a member of the Federal Deposit Insurance Corporation (FDIC).  Bank of America is a huge company (with multiple affiliates) located in thousands of offices around the world including the United States, Canada, Europe, Middle East, Africa, Asia and Latin America.  

Millions of investors around the globe are familiar with and visit Merrill Lynch online where they have traded investments through the firm for many years. Likewise, millions of individuals and businesses maintain checking, savings, mortgage and other banking accounts with Bank of America.  Today Merrill Edge combines the convenience of Bank of America banking with investment opportunities available through MLPF&S which is a member of the Securities Investor Protection Corporation (SIPC) and all its financial activities are strictly overseen and regulated by the United States Securities and Exchange Commission (SEC).   

MLPF&S and Merrill Edge operate as separate entities, maintain different websites and both are wholly owned by Bank of America, which is also its own entity and maintains a different website.

Merril Lynch offers a host of services related to investments, financial advisors, loan and cash management accounts, fixed income solutions, wealth management, retirement and other savings accounts and more.   

Bank of America offers personal and business checking and savings accounts, credit cards, loans, wealth management and small business investment opportunities (through Merrill Lynch and/or Market Edge).

By clicking on “merrilledge.com” visitors are directed to a Bank of America website that features the products and services offered by Merrill Edge, which are basically the same types of financial products and services offered by both Bank of America and Merrill Lynch, separately but together, because of the complex intertwined nature of Bank of America and its multiple conglomerate affiliates.

What is Merrill Edge Bank of America

Merrill Edge offers high quality customer support services and low commissions and fees for its customers, most of whom enjoy the seamless integration of banking and investing accounts through one Merrill Edge login.  Merrill Edge offers a broad range of investment assets that include stocks, bonds, mutual funds, exchange traded funds (ETFs) and options.  Merrill Edge offers commission-free trading for clients who maintain minimum balance requirements imposed by Bank of America. 

The banking services offered by Merrill Edge are directly through Bank of America, which is one of the largest financial institutions in the world and currently serves almost 50 million consumers and small businesses in more than 40 countries around the globe. Bank of America provides banking services to individuals, corporations, government agencies and other institutions and is a leading wealth management group and investment broker for trading a broad range of assets worldwide.  Bank of America is also listed on the New York Stock Exchange (BAC) where shares are publicly traded daily.  

Bank of America Account Types 

Since the focus of this Review is on the brokerage aspect of Merrill Edge, a brief description of types of accounts consumers and businesses can open with Bank of America is as follows: 

  • Individual, Joint or Business Checking and Savings Accounts 

  • Certificates of Deposit 

  • Individual Retirement Accounts (IRAs) 

  • Money Market Savings IRAs 

  • Health Savings Accounts  

  • Home Mortgages, refinances and Home Equity Loans  

Merrill Edge Account Types 

Merrill Edge offers an investment solution for every level of trader and multiple accounts designed to help people grow investments and save money for any purpose.  Merrill Edge offers a large variety of investment accounts that include the following: 

Merrill Edge General Investment Accounts 

  • Online Brokerage Accounts are designed for individual or joint investing or as a custodial investment account maintained on behalf of a minor beneficiary. 

  • Trust Accounts are designed for Trust Administrators’ use in managing whatever assets are the subject of the Trust that holds those assets on behalf of family or other named beneficiaries. 

  • Estate Accounts are designed for Executors who manage the assets that comprise a deceased person’s Estate, including payment of costs and qualified disbursements. 

Merrill Edge Retirement Accounts 

  • Traditional IRAs are designed for people under the age of seventy and a half with earned income less than $71,000 for individuals or $118,000 for joint account holders.  Traditional IRAs allow funds to grow tax free until they are withdrawn for retirement purposes, ongoing contributions may be deductible for tax purposes and mandatory minimum distributions are required after the age of seventy and a half.  

  • Roth IRAs are designed for people earning less than $132,000 for individuals or $194,000 for joint accounts and allow tax-free income growth and tax-free qualified withdrawals at any time. Unlike Traditional IRAs, Roth IRAs have no mandatory withdrawal guidelines and ongoing contributions are not tax-deductible.  Federal and State income taxes apply to contributions, which can be withdrawn at any time (not earnings) and earnings are tax-free if withdrawn after the age of fifty-nine and a half (if IRA account has been open for at least 5 years).   

  • Rollover IRAs allow tax-deferred status of retirement plans that are consolidated into one account with Merrill Edge.  All options should be considered, including staying with a former employer’s IRA, before consolidating existing IRAs into a Rollover IRA. 

  • Inherited IRAs are for transferring the assets contained in inherited retirement plans into an account in the name of the person who inherited the IRA.  These accounts can be used to open Inherited Accounts for Traditional or Roth IRAs. 

Merrill Edge Saving for College 

  • NextGen Direct 529 Plans allow for saving money for a child’s higher education while creating an opportunity for ongoing contributions to grow tax-free. Funds have to be used for college related expenses, including tuition, books, uniforms, etc.  

  • Custodial Accounts (UGMA/UTMA) allow funds to be saved in the name of a child beneficiary and withdrawals can be used for any purpose, including educational expenses.

Small Business Investment Accounts 

  • Business Investor Accounts are designed for companies that want both long and short term investment choices, as well as basic ongoing cash management services. 

  • Simple IRAs allow employers to enable their employees to make tax-deferred contributions to their own retirement accounts and feature a wide range of investment assets for growing earnings, as well as potential tax benefits for the employer and contributing employees. 

  • SEP/IRAs (simplified employee pension IRAs) allow business owners to decide how much to contribute to maximize tax deductions.  Contributions made by the business on behalf of the business owner and/or its employees are tax deductible by the business entity and employees can contribute up to $12,500 annually toward their SEP/IRAs.

Merrill Edge 401k Account

Small Business Merrill Edge 401k Accounts are designed for every small business from a sole proprietor with no employees to a large company with hundreds of employees to set up retirement plans and take advantage of tax deductible contributions to grow retirement savings.  Bundled services and simplified features allow for simplified plan administration and tax benefits that could offset the cost of the retirement plan for the business.  Merrill Edge 401k Plans allow employees to contribute as much as $18,000 every year, which is more than three times the limit imposed on an IRA, and access to those funds can be gained through loans or withdrawals (early withdrawal penalties may apply).

Merrill Edge Trading Platforms 

Investors who open Merrill Edge accounts will access the website’s trading platform for less active traders or the Merrill Edge MarketPro trading platform that is only available to qualified traders or through the Mobile App. 

MarketPro is the firm’s proprietary trading platform that is only available to clients who are self-directed and make at least 15 trades per quarter or maintain combined minimum balances of $50,000 (combining Merrill Lynch, Bank of America and Merrill Edge account funds).  Rewards and Honors apply but are not available to professional investors, business or trust accounts. 

Neither Merrill Edge nor Market Pro offer Demo Accounts for use in practicing trading, which is a huge negative for those who are novice traders and makes Merrill Edge more suitable for more experienced and active traders who don’t need investment advice or feel the need to practice trading in a virtual environment.  

Merrill Edge Mobile Apps are available for free downloading on its website, at the App Store or Google Play and feature Apps designed for Androids, iPhones and iPads and provide easy access to linked Merrill Edge and Bank of America accounts.

Merrill Lynch Benefits 

The Merrill Edge Market Pro platform offers trading and bank account access that features a fully customizable dashboard and the following valuable tools: 

  • Real time market analyses 

  • Global, independent and institutional research 

  • Interactive and Streaming Charts 

  • Streaming Market Data 

  • Access to BofA Global research capabilities 

  • Watch lists, alerts and streaming quotes 

  • Financial news 

  • 36 technical analyses to identify market trends 

  • Easy trading of ETFs, options and mutual funds 

  • Real time portfolio management with up-to-the-minute positions and balances 

  • Local, phone 24/7 customer support services

Merrill Edge Fees 

Traders who open Merrill Edge accounts will pay a flat rate of $6.95 for automated phone trades involving stocks or ETFs (or with self-directed accounts) irregardless of trading account balance or frequency of trading activities.  Representativeassisted trades are $29.95 each. 

Traders who engage in options trading will pay $6.95 per trade, plus $.75 per contract and $29.95 for representative-assisted trades.  Multi-leg options are charged per leg and contract.   

Detailed information about costs and fees can be found on the firm’s website under Investing and Trading, Costs and Fees.

Merrill Edge Minimum Deposits 

Unless otherwise specified by the nature of the financial instrument being traded, there are no minimum deposit requirements for opening Merrill Edge accounts. 

Merrill Edge Promotions and Bonuses 

Merrill Edge offers a variety of promotional opportunities for its clients which include up to 30 free online trades per month with a minimum account balance of $25,000 in combined Bank of America and Merrill Edge Accounts. 

New clients can enjoy up to $600 for enrolling, opening or funding a new Merrill Edge Brokerage Account or IRA, depending on the amount of the initial account deposit. 

Merrill Edge’s Preferred Rewards are Gold (0 to $50,000), Platinum ($50,000 to $100,000) and Platinum Honors ($100,000 to $250,000) and are awarded based on the amount of money in investment or combined accounts.  As account balances grow, so do the benefits and amenities offered by Merrill Edge Preferred Rewards promotion. 

Everyday bonuses include savings on Turbo Tax software and free admission to a variety of national museums using Bank of America or Merrill Edge credit or debit cards. 

Merrill Edge Education Center 

Merrill Edge’s Investor Education Center offers educational resources that include articles, tutorials, webinars, videos, tools, calculators and courses for Beginning, Intermediate and Advanced Traders on a variety of topics that include Personal Finance, Investing & Markets, Fixed Income, Annuities, Stocks, Mutual Funds and more.

Merrill Edge Leverage and Margin 

Leveraged trading is offered by Merrill Edge, the details of which vary between assets and can be explained by a Merrill Edge professional advisor.  Base lending rates are 5.500% and margin rates range between 4.750% and 8.875%, depending on the amount of the loan (the more money borrowed, the lower the margin rate).  

Merrill Edge Customer Support Services 

Merrill Edge offers professional customer support services 24/7 by live chat, email, local Merrill Edge phone number or investors can meet with a Merrill Edge Financial Solutions Advisor at one of thousands of satellite offices around the world.  Helpful information can be obtained on the firm’s website relating to passwords, User IDs, opening, transferring and funding accounts and other FAQs.

Merrill Edge Login

For login to MerrillEdge broker you can visit the broker website, After sign up you can check your email and do Merrill Edge login.

Merrill Edge Spreads and Commissions

Like most online brokers, the Merrill Edge broker does not charge commissions for trades, hidden fees or other charges.  The broker makes money by charging traders a slight spread that is included on all trading activities based on real time market values transacted by the client through the broker.  Spreads start as low as 2 pips (points in percentage) for forex trades (depending on currency traded).

Traders should be aware that trading during volatile times created by adverse global events or financial news is much more risky and broker spreads tend to be wider.

Merrill Edge Margin Requirements

Merrill Edge margin requirements is fixed, The amount of margin that you are required with Merrill Edge to put up for each currency pair varies by the leverage. For example, If you use 50:1 leverage then you may be required to put up €200 to hold a €10,000 position.

Merrill Edge Deposits and Withdrawals 

Clients using Merrill Edge trading accounts can deposit funds using a variety of methods that include credit cards, checks, bank wire transfers and PayPal.  Trading account withdrawals can be conducted using the same methods and require proper identification of account holders in accordance with strict international financial guidelines designed to prevent financial crimes like identity theft and money laundering. 

Merrill Edge Deposit Fees

The Merrill Edge Deposit fees is Zero, It means you will not pay any money as MerrillEdge deposit fess.

Merrill Edge Deposit Time

The Merrill Edge Deposit time is between 1 through 3 business day and it depends to the methods you deposit your MerrillEdge account. 

Merrill Edge Withdrawal Methods

Merrill Edge withdrawal methods is various, Clients can using a variety of methods that include credit cards, checks, bank wire transfers and PayPal. Trading account withdrawals require proper identification of account holders in accordance with strict international financial guidelines designed to prevent financial crimes like identity theft and money laundering.

Merrill Edge Withdrawal Fees

The MerrillEdge Withdrawal fees starts from Zero up to $20, The MerrillEdge withdrawal fees depends to which country and methods you want to receive funds.

MerrillEdge Withdrawal Time

The Merrill Edge Withdrawal time is between 3 through 5 business day and it depends to the methods you Withdrawal from your MerrillEdge account. 

Merrill Edge Withdrawal Problem

If you have any Merrill Edge Withdrawal Problem then you can contact the broker directly and if it dose not solve the problem then you can contact the regulators to solve your MerrillEdge Withdrawal Problems, You can also submit your MerrillEdge withdraw problems in the comment form below of the Merrill Edge reviews by ForexSQ.com forex trading website.

Merrill Edge Trading Hours

Merrill Edge Trading hours of operation coincide with the global financial markets. Online CFDs and Forex trading is available from Sunday 5 p.m. to Friday 5 p.m., New York time.

Merrill Edge Bitcoin Trading

At Merrill Edge you can buy or sell CryptoCurrencies like BTC but you can not deposit or withdrawal with Bitcoins, So Merrill Edge Bitcoin chart is available for trading.

Merrill Edge Live Chat

To get a fast support you can use Merrill Edge Live chat, The Merrill Edge Live Support is also available to support clients, To use Merrill Edge customer support just visit the broker’s website.

Merrill Edge Address

Merrill Edge Head Office address in USA is:

200 Park Avenue, 13th Floor, New York, NY 10166, United States

Merrill Edge UK Address

Merrill Edge Head Office address in London is: 2 King Edward St, London EC1A 1HQ

Merrill Edge Phone Number

Merrill Edge Phone Number in USA is: 888.637.3343

Merrill Edge UK Phone Number

Merrill Edge Phone Number in UK is: 020 7628 1000

Merrill Edge Review Conclusion 

Traders who have Bank of America accounts linked with Merrill Edge trading accounts will enjoy the convenience of managing all their financial affairs from one website with one personal login.  A frequent Merril Edge complaint may be that new or inexperienced traders are disappointed to learn that MerrillEdge does not offer a Demo Account for practice trading.  Traders can gain valuable insights and market information by accessing a plethora of educational materials included on its trading website.  

Merrill Edge MarketPro trading platform is easy to use and navigate and is accessible using a variety of handheld electronic mobile devices that enable traders to conduct account maintenance, research, place and follow trading of a variety of assets and complete day to day cash and/or investment portfolio management.  

MerrillEdge offers commission free trading, flat trading fees and low costs for trading a variety of assets that include penny stocks, bonds, mutual funds and more.  Because the firm’s most innovative trading platform is only available to more active or wealthy traders, the MerrillEdge website and trading platform are better suited to customers who trade very often and who can maintain high account balances or those who are existing Bank of America or Merrill Lynch customers who want to consolidate accounts with MerrillEdge.

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