Merrill Lynch does not offer self-directed accounts, so its pricing schedule is for managed account services. Merrill Edge, on the other hand, offers both self-directed and low-cost managed accounts. There are no-load, no-transaction-fee mutual funds available with the broker. Fixed-income products are priced on a markup and markdown basis.
A Merrill Edge brokerage account comes with no annual fee. There are also no fees for maintenance, inactivity, or a low-balance. For managed accounts, Merrill Edge has a low-cost package called Guided Investing. It costs 0. There is also no account fee. Like Merrill Edge, bonds are priced on a markup or markdown basis, and interest is charged on margin. Full-scale financial capabilities in the palm of your hands Investing with Merrill and banking with Bank of America from the convenience of your mobile device make it a snap to keep track of your money at home or on the go.
Awarded 1 for access to banking services. Merrill 1 for access to banking services for the seventh year in a row. Select to Show details. The Best In Class rating recognizes brokers that ranked in the top 5 in that category. Learn more at StockBrokers. Rankings and recognition from StockBrokers. Select to Hide details. Your combined Merrill investing and Bank of America deposit balances get you more When your balances work together, you can maximize the rewards you earn.
Just open a qualifying checking account, maintain the 3-month average balance requirement and enroll in Bank of America Preferred Rewards to start earning the rewards you truly deserve. Preferred Rewards gives you more from life's everyday moments Credit card purchases, auto payments, buying a new home and investing for retirement can all be more rewarding.
With Bank of America Preferred Rewards, you get rewarded for the things you do every day. Footnote 1. Select to Learn more about Preferred Rewards. I want to save for a big purchase Select to learn more Select to close.
Select to reset calculator. Your Preferred Rewards Tier. Footnote 3. I want to buy a car Select to learn more Select to close. You get a 0. Footnote 6. I want to buy a home Select to learn more Select to close. Footnote 5. I want to prepare for retirement Select to learn more Select to close. Receive a 0. Footnote 7. I want to build a budget and start saving Select to learn more Select to close. I want to travel more Select to learn more Select to close. Footnote 4. Fund your brokerage account immediately so you can act fast on trades.
Move money between checking, savings and investing accounts and watch the funds transfer instantly. Footnote 2. Securely send and request money from almost anyone in minutes, no matter where they bank. Get automated assistance or help reaching real people online, over the phone or in person.
Investing and banking that help turn today's dreams into tomorrow's reality Whether you're looking for easier everyday banking services, personalized retirement solutions or smart college savings plans, we'll help you find the right accounts. Select to Open a Merrill investing account. Select to Learn about Bank of America products. Ready to get started? Set up a meeting Schedule an appointment. You can satisfy the combined balance requirement for enrollment with either: a three-month combined average daily balance in your qualifying deposit and investment accounts a current combined balance, provided that you enroll at the time you open your first eligible personal checking account and satisfy the balance requirement at the end of at least one day within 30 days of opening that account.
Private Bank clients qualify to enroll in the Diamond tier, and may qualify for the Diamond Honors tier based on their qualifying Bank of America, Merrill, and Private Bank balances. Refer to your Personal Schedule of Fees for details on accounts that qualify towards the combined balance calculation and receive program benefits.
Eligibility to enroll is generally available three or more business days after the end of the calendar month in which you satisfy the requirements. Benefits become effective within 30 days of your enrollment, or for new accounts within 30 days of account opening, unless we indicate otherwise.
Certain benefits are also available without enrolling in Preferred Rewards if you satisfy balance and other requirements.
How we review: our methodology. You can view Bank of America accounts and Merrill Edge accounts with a single login, and real-time transfers move money between accounts instantly. Research and data: Merrill Edge appeals to casual traders with a powerful combination of robust research and competitive pricing. Educational resources: In addition to a library of educational content, a podcast, videos, webinars, virtual events and free tools and calculators, Merrill Edge has an Idea Builder tool to help newer investors find investments that appeal to them, such as ESG products.
Investment selection. Advanced traders may find fewer securities on offer. Fractional shares. Fractional shares let investors buy by the dollar amount, rather than the share amount. Environmental, social and governance investors.
Account fees annual, transfer, closing, inactivity. Number of no-transaction-fee mutual funds. No access to cryptocurrencies or crypto-related products. Advanced features mimic a desktop trading platform. Morningstar is a NerdWallet advertising partner. Customer support options includes how easy it is to find key details on the website. Merrill Edge has no minimum account requirement.
Merrill Edge gets high marks when it comes to account fees: There are no transfer, annual, inactivity or closing fees for brokerage accounts. Merrill Edge offers over 3, no-transaction-fee mutual funds to choose from.
While most investors will find Merrill's selection of stocks, bonds, options, ETFs and mutual funds more than adequate, active traders eager to invest in futures or forex will need to go elsewhere. Such an offering is becoming more commonplace among brokers, as it lets investors with less capital build diverse portfolios. Without fractional shares, this can be harder to do.
Learn more about fractional shares. Merrill Edge does not offer access to cryptocurrencies or products like Bitcoin trusts. There's also a "quick trade" feature that lets you make stock and ETF trades from just about any page on the website.
The MarketPro platform, available to all Merrill Edge customers, is also robust, with much of what active traders expect: interactive charts, alerts, Level II quotes which show real-time bid and ask prices for Nasdaq stocks , a customizable dashboard, and streaming data and news.
The app connects with a Bank of America account, letting customers get a holistic view of their financial situation in a single app. Merrill Edge has continued to invest in the consumer experience, with several notable tools that allow customers to analyze their portfolios and find investment opportunities. Regardless of your experience as an investor, there's a good chance this broker has much of what you would need — high-quality research, a good investment selection, helpful customer service and an innovative user experience.
The company ranks among the top of the field when it comes to online brokers. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs.
We collect data directly from providers, and conduct first-hand testing and observation through provider demonstrations. Our process starts by sending detailed questionnaires to providers to complete.
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