Merrill Edge is a trading platform from Bank of America. It allows you to trade stocks and ETFs with fees. It also gives you access to robust research and education services. In our Merrill Edge review, we conclude that the trading platform is a winner. It’s great for those looking for a strong trading platform combining banking and trading under one roof.
When it comes to trading stocks, traders have lots of choices. Of course, you could get yourself a traditional stockbroker or financial advisor. (But we don’t generally recommend it). You can use a lightweight trading app like Robinhood or the Cash App. These offer convenient free trades and ease of use.
Apps like the Cash App and Robinhood have forced larger trading platforms like Charles Schwab and Bank of America’s Merrill Edge to offer free trades as well. But Edge offers some additional benefits.
What Is Merrill Edge?
Merrill Edge is the legacy of Merrill Lynch. Merril Lynch was an investment banking giant that was acquired by Bank of America in 2008. Bank of America, based out of Charlotte, North Carolina, is the second largest banking company in the United States after JPMorgan Chase.
The trading platform comes from BofA Securities. This is a segment of Bank of America’s retail division. The product was originally launched on June 21, 2010. And the product itself was the outcome of the merger between Bank of America Online Investing and Merrill Lynch.
One of the great advantages of the product is that it combines Bank of America and Merrill services into a seamless customer experience. Examples of these features include:
Ability to view Bank of America and Merrill Edge accounts within one login
Real-Time money transfers between your accounts
Ability to view your Edge balances on Bank of America ATMs
Desktop and mobile ease of use
If being able to handle your banking and investing together is important to you, Merrill Edge is an attractive platform.
Merrill Edge provides its users with zero-fee stock and ETF trades. This is for an unlimited amount of trades. However, options trading is not free. Options contracts cost $0.65 per contract.
Another restriction to note is that users are not able to trade over-the-counter (OTC) stocks. Stocks trading below $5 per share are delisted from the exchange. These, therefore, cannot be traded here. This means that there are no penny stocks traded on Edge.
Merrill Edge as a Research & Education Platform
Maybe you have the luck of a leprechaun. In a garden of four leaf clovers. Where a rainbow ends. Or maybe you’re like me and have a lot less luck than that. If you are more like me, then stock research is important.
Luckily, Merrill Edge has a lot of great research for investors. It’s one of the great features of their platform. And this research is provided both by the Merrill Lynch Global Research group as well as …read more
Source:: Investment You