What is Merrill Edge?
Merrill Edge is an online brokerage platform offered by Bank of America, providing investment services for a variety of financial instruments, including stocks, ETFs, and options.
When did it start operations?
Merrill Edge was launched in 2010.
Where is its headquarters?
The company is headquartered in Charlotte, North Carolina, United States.
In which countries is it banned?
Merrill Edge primarily operates in the United States and does not provide services to international customers in jurisdictions with strict regulatory environments.
Pros and Cons
Advantages:
- No commission on online stock and ETF trades.
- Integration with Bank of America accounts for easy fund transfers.
- Access to research and educational resources.
- Strong customer support options.
Disadvantages:
- Limited investment options compared to some competitors.
- Higher fees for options and certain mutual funds.
- The platform may be less advanced for active traders.
Trading Instruments
What instruments can I trade?
You can trade various instruments, including:
- Stocks
- ETFs (Exchange-Traded Funds)
- Options
- Mutual funds
- Fixed income products
Fees
What are the trading fees?
Merrill Edge offers commission-free trading for stocks and ETFs, while options trades typically incur a fee of $0.65 per contract.
Scalping
Does it allow scalping?
Yes, Merrill Edge allows scalping strategies on its trading platform.
Trading Platform
Is there a trading platform?
Yes, Merrill Edge provides its own trading platform, which is accessible via web and mobile applications.
Margin Trading
Is there leveraged or margin trading?
Yes, Merrill Edge offers margin trading, allowing traders to utilize leverage. Specific margin requirements and ratios depend on the account type and asset class.
