Merrill Edge: Latest Discount Broker for Free Equity and ETF Trades

Review of: Merrill Edge
Discount Stock Broker:
Merrill Edge
Price:
$8.95 per trade

Reviewed by:
Rating:
3
On June 25, 2010
Last modified:September 9, 2012

Summary:

Even though it's possible to trade stocks and ETFs for free with Merrill Edge from Bank of America, the requirement for free trades is rather high. If you can't meet the free trade requirement, you can still buy and sell at $8.95. Merrill Edge's standard commission fee is not as attractive as other discount brokers though.

We all know that Bank of America has a broker unit which also offers commission-free equity trades. However, to qualify for the 30 free trades per month, you will have to have at least $25,000 combined assets in deposit accounts with BofA. Though the dollar amount required for free trades is the same as Zecco ($25,000 account minimum for 10 free trades per month), you only need to have that amount in Zecco brokerage account to get the free trades. So Zecco definitely makes a better choice between the two, if free trades is your only concern.

Anyway, now that Merrill Lynch is part of Bank of America, BofA has transformed its broker unit and launched a brand new online discount broker called Merrill Edge early this week, adding some new features to make it more appealing to small investors.

Basically, Merrill Edge inherited its predecessor’s requirements on getting up to 30 commission-free equity or ETF trades per month, i.e., you will need to meet either one of the following two conditions:

  • Maintain total combined balances of $25,000 or more in your Bank of America deposit accounts (checking, savings, FDIC-insured CDs and FDIC-insured IRAs);
  • Maintain total combined balances of $25,000 or more in cash balances in your Merrill Edge self-directed or Advisory Center accounts with the Bank Deposit Accounts sweep option with your Cash Management Account(CMA) or Retirement Assets Savings Program (RASP) sweep with your IRA.

Looking for a cheap stock broker to trade stocks, ETFs, or options? Check out

One improvement over the old BofA broker account is that if you don’t qualify for the free trades or you are over the 30 free trades/month limit, the commissions are still low, within the range of commissions charged by other discount brokers. The actual commission has three tiers, depending on the total assets with the broker:

  • Standard: $8.95/trade for total combined balances in Merrill Lynch investment accounts and Bank of America deposit accounts up to $250,000, or make 0 – 29 trades per quarter.
  • Preferred: $6.95/trade for balance between $250,000 and $1 million, or make 30+ trades per quarter.
  • Superior: $4.95/trade for balance above $1 million, or make 60+ trades per quarter.

For options trading, there’s an additional cost of $0.75 per contract.

In addition, Merrill Edge also offers mutual funds.  For no load/no transaction fee funds, there’s  no additional costs when you buy those funds through Merrill Edge. This actually is better than most other discount brokers which usually charge hefty fees for trading mutual funds (see discount broker comparison for details on mutual fund commissions).

BTW, while Merrill Edge’s commission isn’t that expensive, it does charge a $25 quarterly account maintenance fee unless yo have total combined balances of $50,000 or more in Merrill Lynch investment accounts and Bank of America deposit accounts, or executes 60+ trades per year or 15+ trades per quarter in one or more self-directed accounts, or are a U.S. Trust client. The minimum deposit to open an account is $2,000, which is quite high compared to other online discount brokers.

Now that you have one more discount broker to choose from, will you be interested in Merrill Edge?

Even though it's possible to trade stocks and ETFs for free with Merrill Edge from Bank of America, the requirement for free trades is rather high. If you can't meet the free trade requirement, you can still buy and sell at $8.95. Merrill Edge's standard commission fee is not as attractive as other discount brokers though.

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43 Responses to “Merrill Edge: Latest Discount Broker for Free Equity and ETF Trades”

  1. Joe |  Aug 02, 2010 at 5:27 pm

    Had me sold until I saw the $25 quarterly account maintenance fee.

    • Sun |  Oct 22, 2010 at 8:46 pm

      Yeah, that fee sucks.

  2. Steven |  Aug 26, 2010 at 7:04 am

    Hold off on Merrill Edge. Service level is below par when it comes to resolving issues with the platform.
    For instance with a given level of assets you can qualify for level II quotes and real time analysis tool. I do but both of the above are missing from my account since the launch of Edge and NOBODY at Merrill can fix it. Standard response is, “its a known issue”. Yeh right, such a big organization launched a new platform with a “known issue”. This is why I have 3 different brokerage accounts and guess which firm has the least of my assets.

  3. Tom2 |  Sep 14, 2010 at 4:00 pm

    I had Bank of America online investing which was just downgraded to Merrill Edge yesterday. Merrill Edge is missing some very important features and isn’t even half as good as Bank of America online investing was. I’m very discouraged and can’t understand why Bank of America would downgrade people to Merrill Edge which is sub-standard and much worse than Bank of America investing was.

  4. Chris in Boston |  Sep 15, 2010 at 2:53 pm

    @Tom2, I disagree completely. I was a Banc of America Investments customer and have found the BoA self directed brokerage site to be very lacking in features.

    What exactly are you missing?

    This is not a downgrade at all. Merrill Edge has many nice features which you simply did not have with BoA.

  5. JoeJoe |  Sep 22, 2010 at 10:51 pm

    I’m thinking about closing my account after Merrill Edge’s $25 quarterly account maintenance fee unless you have total combined balances of $50,000 or more in Merrill Lynch investment accounts and Bank of America deposit accounts. I don’t have $50,000 in my account but around $30,000. I don’t think it’s worth paying $100 a year. With BoA Securities, I didn’t have to pay any maintenance fee…Schwab, here I come.

    I only have $30,000 in Cash Reserve, No stocks, if I transfer my balance to my checking, which is very simple, I will have $0 Zero balance in my Merrill Edge, is it difficult to close the account? What’s the procedure for someone like me? Bought 2 stocks in 2009, sold it in April 2010, only made $1000. I’m really thinking about moving to Schwab. Do I have to transfer anything to Schwab even if I don’t have stocks or money in my Merrill Edge? Thank.

  6. RO |  Oct 02, 2010 at 3:08 pm

    Merrill Edge is ridiculous charging $25 for customers migrating from BOA to ME eff. 1st Jan. Customer Service told me that they had period of 1st jun to 1st sept 2010 to move out assets of BOA account if they wanted to avoid $95 transfer fees to some other brok. account. But, I had received notification from merrill edge only in 7th sept that they are charging $25 quaterly maintenance if we dont maintain $50000 dollars…wow.
    So, if I move now I will be charged $95 fees. First, I was never informed of period 1st Jun to 1st Sept that you can move your assets free and second, why was i not informed that there will be $25 maintenence charge in Merrill before sept 1st and only after Sept 1st I was informed. This is total cheating to bOA clients and i am seriously taking this issues to different forums like NYSE, SEC.

  7. Tama King |  Oct 06, 2010 at 3:03 pm

    Merrill Edge is the worse trading platform ever. BOA self directed investment was so much better. The 100 dollar maintainance fee is absurd. Merrill Edge even has trouble reinvesting my dividends. All of their sales rep do not know what is going on as well as each time I call I get different answers for the same question that I pose to them. Merrill Edge, in my opinion is a fraud.

  8. Jim |  Oct 07, 2010 at 8:36 pm

    I think Merrill Edge is an upgrade from Bank of America, I have my retirement accounts there no maintence fees and I can finally go paperless. Thank you, finally good news from a financial company.

  9. Albert from NY |  Oct 18, 2010 at 3:24 pm

    Merrill Edge is a disaster. Their new Mutual Fund policy is to sell Mutual Funds with High expense rate or loads. Pleaee note, the website may report a mutual fund to be NTF, however you cannot buy it. I got screwed!!!. Example, no Vanguard funds can be purchase, however Merrill Edge website list them all Vanguard funds as NTF. Its like going to a restuarant that has a menu with many foods, and when its time to order a food you get and error message ” food not available, find another food”. In summary, they list many funds that are NTF but you can’t buy them. Only LOAD and High expense rate mutual funds can be bought. I will be taking my Retirement accounts out of this expensive place and putting them in Fidelity.

  10. BullBear |  Oct 20, 2010 at 9:40 pm

    I’ve been a Banc of America customer for couple years. Even though their platform was much worse than Scootrade’s or TD’s I switched, because the 30 free trades. However now with Merrill Edge is just a simply nightmare. Cash balances don’t update for several days. So far they don’t update at all. The execution of trades is horrible. Very slow, unstable, unreliable. To place an order it takes way too long. Website is very slow and not responsive. The website is very problematic, a lot of options which MOST traders don’t need pop up. It’s extremely illegible. Gains/Losses are hard to find. The colors are exactly the same which makes them very hard to read. In the era of color monitors it is just an outrage an unaccaptable. Banc of America just DOWNGRADED all its LOW ASSETS customers and it looks like THEY DON’T CARE anymore. Try to call 1-800-926-1111 and press option 0 talk to the service agent! It’s gonna be waste of time plus they all seem to have a negative attitude towards the customers. Just give me a break! Merrill is THE WORST ONLINE broker I’ve ever could imagined.
    When you sell short a stock and later go long it WON’T SHOW IT! The website shows you actually have ZERO SHARES (0)! When you try to cover your position – it tells you to call customer service which take on average 20-30 minutes. In the event of the flash crash your account could be wiped out.
    Please stay away from Merrill Edge. Maybe if all normal people (excluding those who like this godforsaken website) call them every day, send letters and talk to supervisors they would switch the website to the old one. Which wasn’t perfect but it was much much better! Bottom line – just go to any broker but NEVER to Merrill. Horrible customer service, impossible to swing trade website, impossible to cover your short position if you have any long position in the same stock. Just a nightmare. Maybe they just like the tradition of Halloween and enjoy trick the clients?! LOL

  11. Cool |  Oct 22, 2010 at 3:14 am

    I agree with BullBear . I have been a Bank of America customer for over 7 years now , 3 yrs with Banc of America investment services until they downgraded to Merrill Edge . Believe me , Merrill Edge really sucks bad. I only am staying because of 30 free trades but i guess the trading experience is so pathetic/ miserable that i won’t even consider 30 free trades to stay here . You can not find out gain/losses , trading time/execution is painfully slow , order modification/cancellation is a nightmarish experience . This trading platform is the worst of all .

  12. Sun |  Oct 22, 2010 at 8:46 pm

    Sorry to hear so many negative response to Merrill Edge. Though I have been a BofA customer for years, I never tried their investing service because of the high requirement to get the free trades. Free trades are nice, but I don’t want to keep that amount of money with a bank that pays very low rate. I don’t trade a lot, so choosing a real discount broker makes much more sense to me. And after reading all these discussions, I guess I will never touch it.

  13. boba Baba |  Oct 25, 2010 at 2:08 am

    The new Broker Merrill Edge of Bank of America SUCKS SUCKS SUCKS…They have the below average trading plate form. Their streaming quotes window display has errors such as putting a $ sign for index and annoying blinkers. Their excution for trading SUCKS the most. This broker will keep you in disadvantage at market movements. I graded BOA as B+ but this is F and F for ……

  14. BOB |  Oct 25, 2010 at 2:14 am

    The new Broker Merrill Edge of Bank of America SUCKS SUCKS SUCKS…They have the below average trading plate form. Their streaming quotes window display has errors such as putting a $ sign for index and annoying blinkers. Their execution for trading SUCKS the most. This broker will keep you in disadvantage at market movements. I graded BOA as B+ but this is F and F for ……
    They want you to have 25000 in BoA at the lowest interest rate to get 30 free trades a month with a garbage plateform.

  15. Eric Chu |  Oct 26, 2010 at 9:35 pm

    Albert is right! I’m pissed I read this blog too late. I called and asked what mutual funds were available to purchase BEFORE I opened my account and was told all the funds listed in the Mutual Fund screener. However, after opening the account and trying to purchase these funds (Vanguard) I get an error that it is closed! Rep then tells me that the fund is closed to new investors for and I would have the same problem with any broker! WTF? I can buy VTSMX anywhere and the fund is NOT closed. These guys have absolutely no clue what’s going on. I have called twice since to see if the original person I spoke with was an idiot, but both reps told me the same thing (look at the mutual fund screener on the mutual fund section of website). This is completely FALSE advertising. I hope someone files a class action lawsuit against them.

  16. Tom |  Nov 02, 2010 at 1:26 pm

    It is horrible; especially for mutual funds. I use to work for the company before they merged with Merrill and I do know it takes a while to work out the bugs of new platforms but this platform seems to be unfixable. They do not seem to be making any progress with it.

    • BullBear |  Nov 04, 2010 at 10:36 pm

      And you won’t see any improvements!!! It’s been over a month and … nothing changed. Same things, same problems. It looks like it’s gonna stay forever. I need some more time to transfer my money but now I don’t have time to research my options. But people DEFINITELY STAY AWAY from Merrill Edge. Don’t let them lure you into their horrible website. Even if they promise $0 commision!

  17. crc123 |  Nov 17, 2010 at 11:33 am

    bullbear and cool are just two of the “poor unfortunate souls” to quote the Disney movie who hit the nail on the head.

    While BAISI Direct had many limitations in comparison to Scottrade, Etrade, Interactive or Optionsmonster, it still worked as a front end to the outdated Fidelity platform for basic trading.

    Merrill Edge is a complete travesty and BA’s virtual elimination of online access to any historical BAISI data is a borderline crime. The list of inadequacies to serious flaws is long and large in scope.

    If you are not presently an ML or former BA customer herded into this disastrous system, I highly recomment evaluating any of the four online ones I mentioned above before putting a nickel into Merrill Lynch with their self directed Merrill Edge “platform”.

  18. BullBear |  Nov 19, 2010 at 11:25 pm

    Thanks crc123 I see there are still reasonable people on Earth.
    I have no idea how can ANYONE who has more than two (actually 1,5) brain cells like the “new” Merrill Edge. If you’re interested let me know I can send you a short movie how horrible their website is and how it’s virtually impossible to make a quick trade and/or cancel the order. Above all, they won’t let you short and long the same stock when you execute the order in the same day!!! Their website doesn’t update the quotes in real time! The GAIN/LOSS page DOESN’T update in real time either. Oh it doesn’t even update the same day. It has “ONLY” one day delay!!! It’s Friday now 10:56pm EST and I still see (quotes as of Oct. 18.2010) How can they even run a scam like that? Well, as all of you know even freaking google finance has a realtime quotes FOR FREE (and unlike Merrill’s they don’t charge $100 account maintenance fee. You don’t even have to have a google account to see quotes in real time). Quite frankly I don’t know why do they need that $100? To buy more of ZX Spectrum computers to power their outstanding system? That would explain the power of Merrill’s Edge platform.
    I know it’s impossible to change that retarded Merrill Edge website. From top to the very bottom of it, it’s a complete disaster. I called them several times. Many of their “customer agents” are quite rude. They sound like they are irritated by the client’s call. They like to show their attitude and most of them have no idea what are they talking about.
    I spoke with one of their supervisors and even though she was quite nice she didn’t resolve any of my issues. She stressed that: “…many of their customers like their new website very much”. She forgot to mention they never traded a single stock. Or at best they bought 100 shares of msft or bac and they turned off their computer after that. At the end she said she would try to talk to their “development team” (I believe they are still in diapers!) but she CANNOT tell when the issues are resolved. My guess – NEVER. I bet 100 shares of brk.a that Merrill Lynch will NEVER fix the problems. They don’t care about customers who has less than quarter of a million bucks. They just tell us to pack our small and smelly accounts and go somewhere else.
    I’m just wondering – where are the servers and software from Banc of America Investment. What did they do with it? How much did (bac) pay for this merrill’s magic sytem (edge)? Who is developing it, and why it’s so terrible? And ultimately who is RESPONSIBLE for the change and why does he/she still have a job?
    I am so disappointed now that literally I would pay bac $200 to have good ole BAISI website up and running. Amen!

  19. Bryan |  Nov 24, 2010 at 10:44 am

    Agreed. I make about 5 trades a month and have mount Merrill Edge absolutely horrible (where the hell do I find an up to date cost basis???). I will be switching to either etrade or scottrade in the next few days. Any suggestions as to who is better of the two?

  20. fredthe |  Nov 27, 2010 at 12:36 pm

    Merrill Edge is clueless, and is quite likely engaging in illegal practices. Let me tell my story.

    My father had a trust, set up to care for his 2nd wife if he should pre-decease her. During their lifetimes, they were both trustees, but upon his death my sister would become the sole trustee, to manage the trust for the benefit of our step-mom.

    Our father died in September. In the last 2 months, we have been unable to convince Merrill Edge to remove our step-mom as trustee, and acknowledge my sister as trustee. They insist that step-mom needs to resign, even though she has no legal standing or right to do so. They are preventing our legal access to the account. To make things worse, they are refusing to even look at the trust documents to see what they provide for, insisting that they are not allowed to, and must just go my whatever the computer says, even if it is wrong.

    We have even gone so far as to enlist the help of a live Merrill Lynch broker, to try and get this transfered to a “classic” brokerage account. Even he can’t get Merrill Edge to do what is required.

    So, if you really hate someone, refer them to Merrill Edge.

  21. BullBear |  Dec 01, 2010 at 9:37 pm

    Just wanted to put another nail in this dreadful merrill edge coffin!
    Just visit http://www.marketsystems.com/msi/reports/index.html?clientid=SSIC
    scroll to Merrill Lynch, Pierce…
    and see for yourself. Despite that their system is worse than the worst possible one and lacks the professionalism, they DIRECT almost every single order you put to the market that suits them best (they make the most money to rip you off).
    All good brokerages have 100% non-directed orders. Did I need to say that Banc of America Inv. Services HAD 100% as well… I think people should just leave that BULLS*** firm once and for all.

  22. Tariq |  Dec 03, 2010 at 1:27 am

    It gave me relieve to see sooooo many negative remarks about Merrill Edge. I just found last week (Through a email from BOA) that I will be charged 100$ per year just to maintain my investment account. My next question was how to close my account, and the lady said it will cost me 95$ to transfer or close. I just transfered my account to Fidelity. It might suck, but atleast they are not going to charge me anything. From tomorrow I will start my fight to reclaim 95$ they already charged my account.

  23. Chaim |  Dec 09, 2010 at 7:59 pm

    When I found out about the $25/quarter fees I decided to get away from Merrill Edge. It does seem deceptive to move all accounts onto a new platform and suddenly announce that there’s going to be a fee to use it.

    I am transferring everything to TD Ameritrade. The nice thing is that they will cover the transfer fees. I noticed that nobody on this board has anything to say about Ameritrade. I wonder why?

  24. Mike |  Jan 06, 2011 at 7:58 pm

    The Bank of Abuse lured me to open a brokerage account a few year back with those 30 free trades. I only made about 20 trades in the years I was with them but a few times they mistakenly charged me a commission anyway. One they dumped into the Merrill Edge account, the couple of trades I made were charged commissions again. Plus, access to the account via Qucken magically disappeared as well (with no notice or anything). After hearing about the $100/year nonsense I closed the account (after waiting on hold 30minutes for a CS rep). The CS rep was rude and didn’t even ask why I was closing the account. This is the treatment you get after banking with BofA for 30 years with a six figure brokerage account.

    BTW, I also have accounts with TD Ameritrade, ScotTrade, and Interactive Brokers and they all make ML look like the amateur hour old-school brokerage they are. Don’t even think about ML if you want to day or swing trade, and even if you are a Buy and Hold investor you’d be much better off at TDA or ST.

  25. frank opitz |  Jan 11, 2011 at 7:47 pm

    i was happy with bofa they sure messed this up there platform sucks now i have to send them a letter or fax to sell a certain lot what! in 1 year i called bofa twice in 5 months i called ml over 12 times and got cut off or they gave me the old sorry line and we’re working on it i agree with mike it’s like an amater’s platform

  26. Jerry |  Jan 19, 2011 at 4:59 pm

    Do not invest here! I used to work for Merrill Edge, Formally The Financial Advisory Center.. I can tell you that 90% of the people who work there have no idea what they are talking about. It starts from upper management, they are mostly all not bright. I worked there for 3 years and was amazed at the lack of intelligence from the people who were running the show.

    The “Advisors” are just a bunch of 20 year old kids who are pretty much just told to get your money into merrill edge no matter what the cost or they lose their job. Most of them know very little about investing.

    There are no morals at this place, I won’t be surprised if it is under investigation soon.

    An example of how they treat their employees: After 10 years of service a manager had to take a 3 week leave to be with his wife who was very sick with cancer. When he came back, a week before Christmas, they fired him. I am sure they will try to cover it up by blaming it on something else, but everyone knows it was just because of the leave… I wish i was making that up.

    Bottom line: after working there for 3 years, I would never ever under any circumstances, invest with Merrill Edge.

    I would rather bury my money in my back yard.

  27. John |  Mar 13, 2011 at 2:28 am

    Merrill Edge just informed me that I need $25k in my Merrill cash account in order to get free trades. Even if I have stocks, that amount does not count. It seems kind of strange since every stock purchase will require more cash moved into the account. I think the person on the phone didn’t understand the policy. Either way, I want to close my account.

    One way is to sell all my stock and just transfer the cash to my Bank of America checking account. Is there a large fee to close the Merrill account? I know it is $95 to transfer to another brokerage, but if I just transfer my cash to Bank of America and close the account, what is the cost? I couldn’t find anything on their site.

    • herb |  May 27, 2011 at 6:29 pm

      There is no fee to close the CMA. The 30 free trade promotion is only based on cash in the account. They do not take investments into consideration.

  28. Chaim |  Mar 13, 2011 at 8:23 pm

    @ John: I switched to Ameritrade and they covered the transfer fees (which I think were about 75 dollars) so I didn’t have to pay anything to move it over.

    I suspect other brokerages will have similar deals where they cover your transfer fees if you ask them.

    Also note, with Ameritrade, it wasn’t automatic. I had to fax them documentation that showed the transfer fee and it two a few weeks. But they did it.

  29. Mike |  Mar 13, 2011 at 11:16 pm

    @John: Assuming you’re not holding any stocks, just transfer the funds in your ME to your BofA checking account, as I did. There was no transfer fee as it was just treated as moving funds between BofA accounts. Takes a day to clear, then just write a check to move the funds out of your checking account to another brokerage. Once the funds have been moved, then cancel the ME account. This way they can’t try to reduce your cash balance with any BS “account termination” fees. My account had a zero balance when I called them to cancel (which is probably why they were so rude on the phone)

  30. John |  Mar 16, 2011 at 2:03 pm

    Mike, thanks for the feedback. This is exactly what I was thinking of doing. I think Merrill is not that good. I used Banc of America and it wasn’t a problem. But once they switched to Merrill, there were too many fees to worry about.

    I was worried if I transferred the cash to Bank of America, Merrill would try to charge me a fee for not having the appropriate balance for the quarter (since it will be zero). I could imagine them trying to claim something, but since my balance will be zero, what can they do if I cancel my account.

    I have accounts with a few brokerages and Merrill doesn’t seem that good.

    • Chaim |  Mar 17, 2011 at 4:21 am

      You still have to pay a fee to sell all your shares. If you just transfer to another brokerage and let them pick up the transfer fees then you pay nothing and keep your shares.

      For whatever you end up doing, once the account is empty you should call them and officially cancel it. Even if you have some dividend coming, they will still send you any residual money even after the account is closed for a few weeks. You should confirm all this with them on the phone when you close the account. I did the same thing.

  31. John |  Mar 21, 2011 at 3:15 pm

    I only have three stocks that I buy in that account,so selling them is not a big deal. I tried selling one today, and the interface is very outdated. The button to sell or buy is clumped together with two other buttons, so I can see someone making a mistake. Merrill also informed me that I get free trades because of my balance, but the transaction fee still shows up when I trade. What a headache.

    Any other brokerages with free trading that doesn’t have any quarterly fee? I can trade Schwab ETFs for free.

  32. Will |  Apr 13, 2011 at 1:22 am

    How can Merrill Edge sell my stock w/o my permission? What the F is an “FA sell?” Isn’t the whole point to manage your money yourself? I also got about 10% commission out of an “FA sell” at merrill. I’m pulling all my money out of there!

    Can someone explain to me how a FA sell works and how that’s at all legit?

    • fredthe |  Apr 20, 2011 at 5:07 pm

      “FA Sell An order placed by or through your Financial Advisor to sell.”

      From http://www.fs.ml.com/help/glossary.asp?term=f

      Looks like they think you called someone and told them to sell… if you didn’t, you might want to start with a call to the SEC.

    • herb |  May 27, 2011 at 6:33 pm

      Sounds like you had a margin call/equity call or a funds due/debit that you didn’t have the cash to cover.

      Merrill Edge deos not use “FA sell” as a designation for a trade.

  33. Ron Jeremy |  Aug 10, 2011 at 9:17 pm

    Tradeking sucks the big ol Hog Nightly. Website is always down or I get “request can not be processed” message. If I do manage to get logged on, balances are either 0 or double what they are supposed to be, can never trade the amount in your account because they dont keep accurate balances. I think I need to pull my wang out the this chicks butt soon and get a different broker.

  34. kevin |  Oct 19, 2011 at 2:53 pm

    MerED is a horrible trading platform

  35. Jazz |  Nov 28, 2011 at 7:40 am

    I use merryl edge, and I don’t agree with most of the negative comments,
    It’s a descent platform, and it does not suffer of any delays, the theme of the design might not be to the taste of everyone, but I never experienced late updates, or delays in quotes,
    The only thing I can see is the shorting and longing of the same stock, but honestly you know you are just an amateur when you do that, for long term investment strategies it is more then what is needed, for short term profit making I can’t comment since it’s not my thing.

  36. mtnandy |  Feb 17, 2012 at 6:04 pm

    Merril Edge is in my opinion dishonest as they come. They just screwed me out of $3, 300. Said that I bought more shares than I had money in my account for. Funny thing is my account is a self directed IRA and the trading software will not let you spend more than you have. Also I do not have any open trade accounts with them. They admitted to me that they were not authorized to extend credit to me for stock purchases but that the system must have allowed me to spend more than was in the account. They wanted me to send them a check for the $3300 or sell enough stock back to them to cover the $3300. I know exactly how much was in the account when I bought the stock and that is the amount I spent. While I was on the phone for about a hour with them they went into my account and took / sold my stock with out my permission. I tell you know they are no better than a thief. I am moving all my funds out of there first thing Monday morning..

  37. stacy brown |  Mar 15, 2012 at 2:12 pm

    i have been trying to close my father’s account with ME since November of 2010. the account maintenance department has not been able to update the account to show POA authorization yet despite having had the same documents faxed to them on 5 separate occasions. this morning after spending an inordinate amount of time on the phone AGAIN i was informed that i would need to submit another 2 ME generated forms in addition to a copy of the non-standard POA already submitted…….how have i not managed to hear about these other required forms previous to this morning? they also told me that the POA i had faxed them a week and a half ago was blank ( how did they manage to locate it in the box belonging to the person it was directed to if it was blank????)
    “incompetent morons” is too flattering a description. meanwhile, the balance in the account gets tinier and tinier. is there a phone number for someone in management that would actually hear a complaint and be able to get something done?