HSA Account with Merrill Edge
Merrill provides access to an
Individual Health Savings Account (HSA) through Bank of America. Eligible individuals with qualified high-deductible health plans can use the account to save for medical expenses and invest HSA assets in mutual funds made available through Merrill. If you're looking for a
hassle-free HSA with $0 monthly maintenance fees, we recommend checking out
Lively. Lively offers free HSAs for individuals
and families with
$0 monthly maintenance fees and no minimum balance requirement. Lively's HSA cash
is held at FDIC-insured partner financial institutions.
Open Lively Account
Is Merrill Edge Worth It?
With everything considered, is Merrill Edge worth it? Not for newer investors. If you are just starting out, however, you do not need a large account balance to qualify for
Merrill Edge's
$0 online stock and ETF trades. Merrill Edge Self-Directed has no trade or balance minimum for these trades.
If you are a higher net worth individual and especially if you bank with Bank of America, Merrill Edge has a really compelling value proposition. The BofA Rewards program
offers additional benefits based on combined Bank of America and Merrill balances, with the
Preferred Plus tier starting at $30,000. Penny stock
traders should be aware that Merrill places restrictions on certain low-priced securities and may limit the ability to buy, sell, transfer, or hold them.
Buying Stocks on Merrill Edge
When you're ready to purchase some shares with this broker, click on 'Trade'. You will now see the order placement form. The right-hand side of the page will display a box of important trading information. The day's volume and the current bid-ask spread will be shown. This data is important in assessing the day's price action. Charting is also available, which shows more detail about the stock's movement.
In the 'Action' field, select Buy. Confirm that the ticker shown in the 'Symbol' field is XOM. Type in the number of shares you want to purchase. Merrill Edge's
$0 online stock-trading commission applies regardless of the number of shares ordered. Therefore, placing one trade for all the shares you want instead of several trades is a better value. The website displays a useful calculator that will change a dollar amount to the number of shares for the stock you're buying.
Under 'Order Type', there are several types of possible orders. Market and limit are the most common. A limit order lets you specify the maximum price you are willing to pay but does not guarantee that the order will be filled. A market order prioritizes execution but does not guarantee the execution price. Limit orders offer more control over the purchase price, so choose a Limit order. Next, choose the Duration. This is typically a Day order or Good Until Canceled. The Day order expires at the close of the session, whereas a GTC order sits in your account for up to a month waiting to be filled.
Click on Preview Order if all fields look correct. If the confirmation page looks right, click on Submit Order. Well done, you have just made your first stock trade. Market orders in liquid securities can execute very quickly, while limit orders will only execute when their price conditions can be met. Go to 'Order Status' under the 'Accounts' menu to verify that your trade has been executed. The stock position will display in your account after the order is filled.
Merrill Edge Final Thoughts
Merrill Edge offers investors access to
unlimited $0 online ETF trades and thousands of mutual funds. Many mutual funds are available with no transaction fee or commission. For No Load, Transaction Fee funds, Merrill charges
$19.95 for an online purchase, sale, or exchange and $29.95 for a representative-assisted transaction. No Load, No Transaction Fee funds and Load Waived funds can be purchased without a transaction fee or commission. This selection gives investors plenty of choices for building portfolios with index ETFs and mutual funds directly at Merrill Edge.
Updated on 9/5/2026.
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