HSA Account with Merrill Edge
Currently, Merrill does offer HSA or Health Savings Accounts through Bank of America for eligible individuals and businesses. If you're looking for a
hassle-free HSA with $0 fees, you may also want to consider
Lively. Lively offers free HSAs for individuals
and families, keeps pricing straightforward, and works with FDIC- or NCUA-insured partner institutions for eligible cash balances. Additionally, Lively uses
bank-level security protections.
Open Lively Account
Is Merrill Edge Worth It?
With everything considered, is Merrill Edge worth using? Not always for newer investors. If you are just starting out and do not have the minimum of
$20,000 to qualify for
preferred status at the entry tier, you may be better off investing with Robinhood or Charles Schwab.
If you are a higher-net-worth investor and especially if you bank with Bank of America, Merrill Edge has a very compelling value proposition. Free trades, fee waivers,
and rewards boosters mean that Merrill Edge customers can improve their overall experience by tapping into benefits that would otherwise be unavailable to them. Penny stock
traders also should seriously consider Merrill Edge due to the lack of any premiums or surcharges to trade stocks costing under
$1.00.
Buying Stocks on Merrill Edge
When you're ready to buy shares with this broker, click on 'Trade'. You will then see the order-entry form. On the right-hand side of the page, there will be a box with important trading information. The day's volume and the current bid-ask spread will appear there. This information matters when evaluating the day's price movement. Charting is also available and gives more detail on how the stock has been trading.
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 trading fee is good 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 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. Limit orders guarantee a price but do not promise the order will actually be filled. Market orders generally guarantee execution without guaranteeing the final price. Limit orders are more common because they offer an extra layer of protection, 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 placed your first stock trade. Usually, orders are filled in less than a second unless a limit price is away from the current market price. Go to 'Order Status' under the 'Accounts' menu to verify that your trade has been executed. The stock position will display immediately in your account after the order is filled.
Merrill Edge Final Thoughts
Merrill Edge does lose some of its competitive edge when considering how the platform handles mutual funds and index products. The platform does offer investors direct access to
$0 online ETF trades. For mutual funds, the cost depends on the specific fund selected. Investors in no-load, no-transaction-fee funds and load-waived funds do not pay
loads, transaction fees, or commissions. No-load, transaction-fee funds cost
$19.95 per online transaction, and using the support of a live representative increases that fee to
$29.95.
If you are an investor who wants index and mutual funds to build the backbone of your investment portfolio, you may still want to compare Merrill Edge with an
additional brokerage account that offers a broader fund lineup.
Updated on 4/14/2026.
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