Merrill Edge Logo
Written by: Nicole C. Updated: Dec 2022
Expert verified
Recommended for
  • beginners
  • equity trading
Trusted broker
Regulated by top-tier financial authorities
Popularity
1,745 people chose this broker in the last 6 months
BrokerChooser Score
4.8/5

Merrill Edge review summary

Merrill Edge is a US-based broker owned by Bank of America (BofA). Merrill Edge offers low trading fees, including commission-free stock and ETF trades. The account opening process is fast and seamless. The broker is considered highly reliable due to the established reputation of its parent company, Bank of America. It is a good choice for beginner investors. Merrill Edge is only available to US residents and offers only US-based products. There is no demo account in its educational portfolio. Digital wallets and credit cards are not available to fund accounts. BrokerChooser gave Merrill Edge a 4.8/5 rating based on analyzing 500+ criteria and testing via opening a live account.

Merrill Edge is available in United States

Merrill Edge pros and cons

Pros Cons
Low trading fees Limited to US clients and products
Easy and seamless account opening No demo account
Strong parent company Few options for deposit/withdrawal

Merrill Edge main highlights

🗺️ Country of regulation USA
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1 day
🎮 Demo account provided No
🛍️ Products offered Stock, ETF, Fund, Bond, Options
To read much more details about the broker's services and features, expand on the sections below.

Merrill Edge review
Fees

4.4
Merrill Edge has overall low trading and non-trading fees, including commission-free stock and ETF trades. However, fund fees are quite high.
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Merrill Edge review
Account opening

5.0
Account opening at Merrill Edge is seamless and fully digital; it took us less than a day to have an open account. Only US clients are accepted.
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Merrill Edge review
Deposit and withdrawal

2.2
Merrill Edge has an easy-to-use deposit and withdrawal system with a bank account connection. Unfortunately, credit/debit cards cannot be used to fund the account.
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Merrill Edge review
Web trading platform

4.3
Merrill Edge has a user-friendly and simple trading platform with a secure login and price alerts. However, it offers only limited customizability and the search function is not so advanced.
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Merrill Edge review
Mobile trading platform

4.8
The Merrill Edge mobile app, available for iPhone and Android devices, is easy to use and provides a safe and easy login. On the other hand, the search functions could be improved.
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Merrill Edge review
Desktop trading platform

4.3
Merrill Edge's desktop trading platform Merrill Edge MarketPro is targeted for active traders. It has advanced tools and functionalities, and is highly customizable.
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Merrill Edge review
Markets and products

2.5
Merrill Edge has a limited product portfolio that consists of stocks, ETFs, mutual funds and bonds. Unfortunately, the product lineup covers only the US market.
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Merrill Edge review
Research

4.0
Merrill Edge has many user-friendly research tools, including trading ideas, fundamental data and screeners. However, the web trading platform lacks sophisticated charting and analytical tools.
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Merrill Edge review
Customer service

4.0
You can contact Merrill Edge via phone, chat, mail, or by visiting a Bank of America branch. There is also an online mailbox for document upload, but no email address for general inquiries.
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Merrill Edge review
Education

3.5
Merrill Edge offers many investment introductory materials for beginners as well as access to Merrill Lynch and Bank of America materials. Unfortunately, there is no demo account.
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Merrill Edge review
Safety

Merrill Edge is regulated by top-tier US authorities and its clients are protected by a high investor protection amount. On the negative side, negative balance protection is not provided.
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Merrill Edge review
Bottom line

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Merrill Edge review
FAQ

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Author of this review

Nicole Conrad

Author of this review

Nicole is a former intern content contributor for BrokerChooser. She came with experience and certification in Accounting, and pursued graduate studies in Economic Policy. Nicole wrote broker reviews to provide transparency for customers: highlighting brokers’ exceptional services and holding them accountable for questionable practices.

Nicole Conrad

Nicole is a former intern content contributor for BrokerChooser. She came with experience and certification in Accounting, and pursued graduate studies in Economic Policy. Nicole wrote broker reviews to provide transparency for customers: highlighting brokers’ exceptional services and holding them accountable for questionable practices.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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