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Merrill Edge review

The self-directed brokerage from Merrill, part of Bank of America. Below is what its own pages say about cost and protection, in its own words.

5 of 8 facts quoted. Oldest quote expires November 30, 2026.

Where Merrill Edge comes out on top

Best for low fees

4 firms tie

How we decide: Lowest cost to buy a stock or ETF. Firms that tie are all named. The lower options fee breaks a tie only when every tied firm states it. Only firms with a current quote count. Based on 4 firms with current data. We need at least 4.

Fees, minimums and protections

Cost to buy a stock or ETF

$0

What the firm charges each time you buy or sell a stock or ETF online.

“Unlimited $0 online stock and ETF trades with no trade or balance minimums”

Read October 31, 2026. Expires November 30, 2026. Pending review by a person. Open the source page Fingerprint cc2aacf6.

Account minimum

$0

How much money you need to open the account.

“Minimum investment No minimum”

Read October 31, 2026. Expires November 30, 2026. Pending review by a person. Open the source page Fingerprint ab0d7ac7.

Options fee per contract

$0.65

The extra fee for each options contract you trade.

“$0 option trades are subject to a $0.65 per-contract fee.”

Read October 31, 2026. Expires November 30, 2026. Pending review by a person. Open the source page Fingerprint 4499b214.

Interest on cash waiting to be invested

Not stated

The rate paid on cash you leave in the account.

We have no word-for-word quote for this. The firm page does not state it, or we could not read the page. We do not guess.

SIPC protection

Yes

SIPC protects your investments if the firm fails. It does not protect against losses from the market.

“Member SIPC”

Read October 31, 2026. Expires November 30, 2026. Pending review by a person. Open the source page Fingerprint af3772e5.

Fractional shares

Not stated

Whether you can buy part of a share.

We have no word-for-word quote for this. The firm page does not state it, or we could not read the page. We do not guess.

Fee to move your whole account out

$49.95

What the firm charges if you move your whole account to another firm.

“Full account transfer fee Footnote 7 $49.95”

Read October 31, 2026. Expires November 30, 2026. Pending review by a person. Open the source page Fingerprint adc9719d.

Retirement accounts (IRAs)

Not stated

Whether the firm offers IRAs.

We have no word-for-word quote for this. The firm page does not state it, or we could not read the page. We do not guess.

Interest on idle cash, from our index

0.01% from SwitchWize Cash Sweep Index, as of 2026-10-30.

General information, not personal investment advice. Investing involves risk, including loss of money. SIPC protects against a firm failing, not against market losses. SwitchWize earns nothing from this page. Merrill Edge website