Does Merrill Edge charge fees?

Stock and ETF trades are commission-free. Options cost $0.65 per contract, and some mutual funds have fees. The robo-advisor product (Guided Investing) charges 0.45% annually for the basic tier.

Is Merrill Edge safe?

Of course! It's a division of Bank of America and offers SIPC protection on investments and FDIC coverage on cash sweep balances.

Can I trade crypto on Merrill Edge?

No. Merrill Edge does not offer cryptocurrencies or access to futures at this time.

Merrill Edge Review: A Solid Choice for Bank of America Customers

If you already bank with Bank of America, Merrill Edge might be the simplest way to start investing. It's built right into your BofA dashboard, offers $0 stock trades, and rewards you just for having money in the system.

That said, active traders and folks looking for crypto, futures, or high-powered charting tools might feel boxed in.

Here's our full rundown on Merrill Edge so you can determine whether it's right for you.

Merrill Edge® Self-Directed

Our Rating:

4.5/5

Bottom Line

Merrill Edge® Self-Directed sports low overall fees, strong research offerings, and fantastic customer support. It's a solid option for all investors, and especially attractive for Bank of America customers.

Fees:

$0 for online stock and ETF trades

Account Minimum:

$0

How we rate stock brokers

At Motley Fool Money, brokerages are rated on a scale of one to five stars. We primarily focus on fees, available assets, and user experience; however, we also take into account features like research, education, tax-loss harvesting, and customer service. Our highest-rated brokerages generally include low fees, a diverse range of assets and account types, and useful platform features.

Our aim is to maintain a balanced best-of list featuring top-scoring brokerages from reputable brands. Ordering within lists is influenced by advertiser compensation, including featured placements at the top of a given list, but our product recommendations are NEVER influenced by advertisers. Learn more about how Motley Fool Money rates brokerage accounts.

How we rate stock brokers

At Motley Fool Money, brokerages are rated on a scale of one to five stars. We primarily focus on fees, available assets, and user experience; however, we also take into account features like research, education, tax-loss harvesting, and customer service. Our highest-rated brokerages generally include low fees, a diverse range of assets and account types, and useful platform features.

Our aim is to maintain a balanced best-of list featuring top-scoring brokerages from reputable brands. Ordering within lists is influenced by advertiser compensation, including featured placements at the top of a given list, but our product recommendations are NEVER influenced by advertisers. Learn more about how Motley Fool Money rates brokerage accounts.

Merrill Edge review summary

This stock broker is a good fit for long-term investors who like keeping their finances in one place. Here's a quick list of pros and cons we'll discuss in this review:

Pros:

$0 stock and ETF commissions
No account minimums
Integrated login for BofA customers
In-person support via BofA branches
Perks via Preferred Rewards for BofA

Cons:

Doesn't support fractional share buying
No direct crypto, futures, or forex trading
Platform or interface can feel clunky

What we like about Merrill Edge

Merrill Edge® Self-Directed is one of our favorite brokerages. It ranks among the best brokers we've seen in these categories:

Here are the main reasons we love and recommend Merrill Edge:

Seamless integration with Bank of America

If you already bank with BofA, Merrill Edge is a natural choice. You can move money instantly between your checking/savings and brokerage accounts without delays.

Many Bank of America financial centers (i.e., branches) have Merrill Edge® Self-Directed advisors available during normal banking hours to help you with your account. If being able to speak to someone in person is valuable to you, this can be a major selling point on its own.

But probably the best part is having all your banking and investment accounts under a single dashboard. It makes managing your overall finances a bit cleaner with everything in one spot.

$0 trades and no account minimums

Merrill Edge® Self-Directed, like all of the best stock brokers, now offers commission-free trading for online stock, ETF, and options trades.

Note, an options contract fee of $0.65 per contract does apply.

Self-directed accounts also have no minimum balance requirements, and no annual fees. So you won't be penalized for having a low balance or getting started small.

Debit card and bill pay

Merrill Edge provides a debit card for its Cash Management Accounts (CMA) and other self-directed brokerage accounts.

Being able to access your account balance at any Bank of America ATM without paying a debit or ATM fee is a major advantage for those who live near a Bank of America branch. Likewise, free bill pay makes it easy to pay bills straight from your account balance.

BofA Preferred Rewards

This is arguably Merrill Edge's best perk. If you hold $20,000+ across Merrill and Bank of America accounts, you'll qualify for Preferred Rewards tiers.

This unlocks a few different perks:

Credit card rewards bonuses (up to 75%)
Interest rate boosts on savings
Discounts on mortgage origination fees
Priority customer support

Even if you're not actively trading, simply parking long-term investments here could boost your everyday banking benefits.

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Downsides you should consider

Even a strong platform like Merrill Edge has a few drawbacks worth keeping in mind before you commit your investment dollars.

Platform is limited for advanced traders

Merrill Edge is solid for long-term investing, but not great for options or technical traders. It lacks the deep charting tools and custom order types you'll find on platforms like Fidelity or Charles Schwab.

You can trade options here, but tools are basic. And there's no futures or cryptocurrency trading.

No fractional shares

Unlike most top brokers, Merrill Edge does not offer full fractional share investing. This makes it less appealing if you're looking to buy $50 of a $500 stock or automate micro-investing.

Robo‑advisor fees and constraints

Merrill Edge robo-advisor fees are 0.45% annually for the online-only version of Merrill Guided Investing. And 0.85% annually if you choose the option with a dedicated human advisor.

These fees are on the higher end compared to most robo platforms. It also offers fewer customization options and automation tools than many newer fintech investing apps available today.

Commissions and fees

Merrill Edge is largely fee-free for most casual investors. That said, Merrill Edge does push its in-house products (like Merrill mutual funds), and some third-party mutual funds may come with steep fees.

Always double-check the expense ratio and load fees.

Here are a few others to be aware of:

$39.95 early redemption fee for no-transaction-fee funds: Merrill Edge® Self-Directed offers thousands of no-transaction-fee (NTF) mutual funds, but be aware that redeeming your investment within 90 days will result in a short-term redemption fee of $39.95.
High margin rates: Merrill Edge® Self-Directed margin rates change frequently, and the broker recommends contacting them for the latest rates. (When we did contact Merrill Edge® Self-Directed, the margin rates were higher than average for many full-featured brokers. The same has been the case in several other follow ups checking in about margin rates.)
$0 ATM charges: Visa debit cards are free with a Merrill Edge® Self-Directed account, and you can make transactions at any Bank of America ATM for free.
Free checks and bill pay: This is super handy for retirees who are taking distributions from their retirement accounts to cover living expenses in retirement. These features and more make Merrill Edge® Self-Directed worth considering as a stock broker for IRAs.

Customer service and support

Merrill Edge generally earns high marks for support -- especially for BofA customers in Preferred Rewards tiers. A few ways they stand out:

Phone support: 24/7 with U.S.-based reps
In-person help: Available at 3,800+ Bank of America branches
Live chat: Available within the mobile app and desktop platform
Dedicated support: Platinum tier or higher gets priority support

Whether you need help transferring funds, navigating tax documents, or just figuring out your next step, Merrill Edge's support team makes it easy to get answers fast.

Is Merrill Edge good?

For many investors, yes. Especially if you already bank with BofA or are looking for a low-cost, easy-to-use platform.

Who it's best for:

Bank of America customers
Long-term, buy-and-hold investors
People who value in-person banking or hybrid support
Users looking to unlock Preferred Rewards perks

Who should consider other platforms:

Active traders who want deep research, screeners, and technical charts
Fractional share investors
Those who want exposure to crypto or futures
Beginners who want a more modern fintech platform with user-friendly features

Alternatives to Consider

We recommend comparing brokerage options to ensure the account you're selecting is the best fit for you. To make your search easier, here's a short list of our best trading platforms of 2025.

Broker	Best For	Commissions	Learn More
4.5/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	Managing your finances under one roof	$0 for stocks, $0 for options contracts	Learn More for SoFi Active Investing On SoFi Active Investing's Secure Website.
4.5/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	Low-cost investing with a full-featured platform	$0 stock, ETF, and Schwab Mutual Fund OneSource® trades. No fees to buy fractional shares.	Learn More for Charles Schwab On Charles Schwab's Secure Website.
5.0/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	Full-service investing at every experience level	$0 commission for online U.S. stock and ETFs. No account fees***.	Learn More for Fidelity On Fidelity's Secure Website.

Final thoughts

Merrill Edge isn't a flashy new fintech brokerage. But it's a dependable, low cost, and bank-integrated broker that works beautifully for BofA loyalists.

If you're looking for crypto, advanced charting, or a sexy interface, there are other top investing apps to help with that.

With Merrill Edge you'll get rock-solid service, $0 commissions, and one of the best banking rewards ecosystems in the country.

Check out our full list of the best brokerage accounts for 2025 -- including our top picks for beginner investors, active traders, and mobile-first platforms.

FAQs

Stock and ETF trades are commission-free. Options cost $0.65 per contract, and some mutual funds have fees. The robo-advisor product (Guided Investing) charges 0.45% annually for the basic tier.
Of course! It's a division of Bank of America and offers SIPC protection on investments and FDIC coverage on cash sweep balances.
No. Merrill Edge does not offer cryptocurrencies or access to futures at this time.

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