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Merrill Edge customer reviews, complaints, and ratings. Investment account pros and cons. Is Merrill Edge brokerage firm good and safe or a scam?

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MerrillEdge Customer Reviews

by Hector S, 5/22/2022

Pros: None

Cons: Non-responsive

I transferred out the entire IRA for the most simple but important reason, non-responsive to phone calls, and that caused me to lose thousands of dollars, do not invest whit them.

by Richard, 4/7/2022

Pros: None

Cons: See review below

I have moved almost all of my money out of ML. Cust service is horrible. I faxed an IRA distribution (mandatory) on 11/1/21. On 4/6/22 I got an email to call. Yes, that's 5 months. I needed to resend because the signature date was too old. That is because they sat on it for 5 months. I was told a manager would positively call me back today and no call. 4/5 past distributions have all been mishandled. My last 2 accts are moving to Vanguard (spectacular service) now. Run from ML. T Rowe Price also does a great job.

by Rich Helton, 3/25/2022


Cons: Cannot Transfer money to another IRA

Well, after 3 weeks, almost a month, to transfer an IRA into a State Retirement Account, I called dozens of times, I spend about 8-10 hours a week calling Merrill Edge. They never email me, and pretty much say that they are working on it, give them another week each time.

I have no idea how to get my money from them and had to cancel my retirement plans for over a month now. Caused a lot of severe hardship to my life by delaying months to retire due to a simple transfer.

It's nice that I had an IRA with them, but somehow they cannot seem to give me my money, it's turning into a part-time job, and I call them to beg them to transfer my money from their IRA into another one.

No idea what to do next, but getting my money out of my IRA into another one has cost me a fortune,

by AB, 2/28/2022

Pros: ZERO


Merrill Edge Timeline

Dec. 2021 – I contacted Merrill Edge to have my IRRA Account liquidated. The hold times for each call I made were in excess of one hour.

The receiving broker sent transfer paperwork to Merrill Edge with instructions to wire funds.

01.18.22 – I contacted Merrill Edge to check on the status of the transfer of funds. I did not note the name of the representative I spoke with. He informed me that no paperwork had been received. I contacted the receiving broker and they overnighted the paperwork via FedEx. I believe Merrill Edge received the original paperwork but did nothing with it.

01.22.22 – I talked with Jason who informed me they did receive the paperwork from the receiving broker today and he will expedite the transfer and that it takes 3-5 days for an expedite. That is an unacceptable expedite time frame.

01.25.22 - I talked to Robert who informed me that this account was a mess and he did not understand why it was taking so long. He gave me his direct phone number and promised to follow up and keep me informed. He did not do this nor is the phone number valid as there is no option to enter his extension number.

01.27.22 – I talked to Andy who informed me the check will be “mailed” today by end of day. This is the FIRST time anyone said to me that a check would be sent via regular USPS mail! He informed me that they do not do wire transfers because the government would look at the wire as a disbursement and that could cause the IRS to charge me taxes. This is the most absurd comment as I could easily show the IRS that it was not a disbursement. He again told me they do not do wire transfers and this is the normal process. He refused to allow me to pay for Certified Mail as I am concerned a check that size could easily get lost with no method to track. Who puts a check this size in the mail? How irresponsible!!!

02.01.22 – I talked to Ron, he offered to take this to his manager and I asked to speak to his manager directly because the funds are still with Merrill Edge. Ron’s manager is Crayton and he assured me Crayton would call me.

02.01.22 – I received a call from Glenn, not Crayton. He said Merrill does not send money via wire and that my paper work from Equity Trust clearly states the funds are to be mailed. He later clarified that he was looking at the paperwork incorrectly. He then explains that Merrill only uses ACAT to send funds because the IRS would not see that as a disbursement. I explained that to the receiving broker and they are set up to receive ACAT. The receiving broker sent ACAT directions to Merrill. However no one at Merrill saw this. Incompetence!

There are multiple emails where the receiving broker got involved to help me resolve the problems and even offered their FedEx account number to send the check. Merrill still refused!

02.23.22 – I left a voice mail for Glenn to let me know if the checked had been mailed yet and to please call me. He has not called me. Prior to my voice mail I sent Glenn an email asking for the status and Glenn has yet to reply. Unprofessional!!

Today is 02.25.22 and I have not heard from anyone at Merrill and the funds still have not reached the receiving broker. I talked to XXXXX who informed me that the funds were withdrawn February 11. He put me on hold to see if he could find out when it was mailed. I told him I received a letter from Kesha, in Research and Development and that I need to speak with her as well. There is no phone number on the letter to contact her except the main number to Merrill Edge.

Merrill Edge is owned by Bank of America. STAY FAR AWAY from these organizations. They are great as long as they have your money but the very second you want to transfer your funds to another organization you are no longer important. No one in the Merrill Edge organization knows what the other has said or is doing. They did everything they could to stop this transfer.

02.25.22 I received a call from the receiving broker while I was on hold with Merrill and the check has finally been received. Merrill Edge has the worst customer service I have ever experienced. I will never do business with Merrill or any of its affiliates.

Merrill Edge complaint website shows 18 complaints and only one has been resolved. That explains the service you will get with Merrill Edge. I am so glad my funds are no longer with this organization.

by Maria NJ, 2/25/2022

Pros: Very Good.....taking your money!

Cons: Nightmare to call; each person you talked, doesn't know or "we are working on it."

I requested a fund transfer since January 4, 2022, I tried contacting my financial advisor via email and phone call snce my funds are under professional management. I did not even get a single reply or acknowedgement from my financial advisor. I have called mutiple times and each time they try to connect me to my financial advisor to no avail. After weeks of waiting and after speaking to differesnt advisors and associates multiple times , 1 hour to 1.5 hours of waiting on the line, each has different version (or "We are working on it" or "Your other firm doesn't accept wire transfer") of why there's a delay. All BS and incompetent. After a month and a half I received a note requesting to update the form I sent, I did and sent it the same day. After 2 weeks of silence, I called again this week, 2 times and still, no update. I have spoken twice with supervisor to complain, all apologies but still nothing. Today a supervisor/manager called me (that is after I demand to speak again with a supervisor) apologising, after my ranting on the phone, he said the same thing what others said, they will work on it and will try to expedite it. I told him that's the same line the other supervisor told me and its been 3 weeks and stll nothing. The supervisor said that he will make sure that somebody will call me to upadte me, I asked him for an email today to reflect our conversation and whatever he said they will do, he said he will send me an email, guess what? No email up to this time.

by Roxanne, 2/25/2022

Pros: Customer service called back


To update, the last review. The supervisor called back. She was very nice, like all their staff. She listened to what has occurred the last four days. Was very apologetic and had already waived the transfer fee for all the inconvenience. I explained the disconnects and she took notes. Much relieved it’s all over and I was contacted by upper management.

by Roxanne, 2/25/2022

Pros: None

Cons: Get different promises and info from every person you speak with every time. On hold for more than 12 hours in four days.

Tried to get cash transferred was and still is a nightmare. No physical branches must call and be put on hold for over an hour just to speak to someone every time. Have called every day for four days and get different answers from every person. Told funds would be transferred two days ago. Nothing. Called again, six hours ago, on hold for an hour. Told once information on account was updated, funds would go out. Mind you account information was updated three days ago. No one wrote or called they still needed more information. They ask what is the money for which is none of their business. After information was updated again, was told the paper work needed to be redone. Redid paperwork, did it correctly. Funds will not be transferred again over $1.25 short of $30. transfer fee. Asked to take out of amount being transferred. Not allowed although three days ago was told I could. Today alone, have been on hold for four phone calls over 7 hours. Still can’t transfer my money. They apologize a lot but nothing gets done and four days later I don’t have my money. This is the worst customer service and most inflexible company that exists. Don’t get me wrong the people on the phone could not be nicer, they apologize profusely, but everything that is promised never occurs. I’m still waiting on hold, hence I have time to write this (and a book). No offer to compensate my time or efforts ie waive $30 transfer fee. Asked to speak to a supervisor and was told they’d get one online. Instead, more hold time with the worst music you are forced to listen to for hours. Told they would take the $30 transfer fee out of the amount being transferred again. I agreed and then found out wire transfers stop at 4. I was told 7 pm 8 hours ago. Apparently, not when the form is changed. I told them on the form to take out $30 wiring fee so the form was not changed. I’m still on hold this time 2 hours and 20 minutes. No supervisor will talk to me. They hide behind customer reps who have to say they are sorry all day long. I just wasted an entire day of my life today on hold not to mention the six hours during the previous four days. Still no supervisor. Beware.

by Dennis, 2/23/2022

Pros: BofA benefits

Cons: You name it

Horrid customer service, on hold forever. Get transferred, on hold again. 1099 tax statement always late, then they always file a supplemental 1099 that you don't get until late March when you need to file your taxes. Lousy service, no communication, no regard for their customers.

by Introduce yourself before asking questions, be kind, don't put someone on hold, address their concerns immediately, 2/9/2022




by Someone opened an account in my name, 1/28/2022

Pros: Absolutely none.

Cons: Their customer service is horrid.

I received a letter in the mail telling me the only way I can confirm I am not the one who opened an account is via phone call. I didn’t mind calling to clear things up but I’ve been on hold for well over an hour and at the 55min mark it even rang in like I was about to be connected to an associate but I was ignored and placed back on hold. I am beyond furious because it should not be this difficult for me to say I DID NOT OPEN AN ACCOUNT WITH THEM. If you want to get anything done I would recommend setting an appointment for Bank of America to call you. That’s what I have done. I am still waiting on hold to see if MAYBE I will be connected to someone soon. It’s clear to see why this business is almost unheard of by the newer generation.

by Glenn, 1/27/2022

Pros: None

Cons: Cannot get someone to answer the phone to close an account

I have been trying to close an account for my uncle for almost 2 years. After closing the account and getting the check. My uncle received a bill for $125 to manage his account. After contacting Merrill Edge they informed me that there was still $30 in the account. I asked how that could be after we closed the account. They informed me that it was dividends posted after we closed the account. I have tried 5 times over the last 2 years to close the account and each time they assure me that it is handled he continues to get a bill for $125 to manage the $30. Since we didn’t pay the $30 his account is locked. Now I try to contact them by phone and wait on hold for hours. I tried online messaging and seemed to get a response but after that person contacted a foundation member within a few messages we were disconnected. How convenient? I have tried to just forget the $30 but they keep sending a bill to my uncle. At 90 years old he gets freaked out. I went in to a Bank of America Branch and the Merrill Edge Person there said they could only help me open an account not close one. Next time I got to visit my uncle I think we will be closing all his B of A accounts. Do your self a favor do not deal with them.

by irritated, 1/11/2022

Pros: none

Cons: horrible service

completely unreal that with all the profits in the finance industry that this outfit has 20 year old customer service system. It is designed to avoid questions. Terrible service!

by Disgruntled Customer., 1/4/2022


Cons: Customer Service Sucks Ass!!!!!!!

I have been helping my wife's mother with her account because she has waited over the course of two months a Grand total of 13 hours on HOLD!!! The customer service say they have her account fixed and then when checked nothing has changed. Then another 2 hrs on hold. Do yourself a favor and RUN away from these people. Non existent customer service.

by Chris, 12/30/2021

Pros: Good Website

Cons: Horrible Customer Service - Average 1.5 hours hold time

Great for self directed investments with an easy-to-use website. Merrill retains all price improvement and will lend your shares, so they keep almost all upside that is typically shared with customers by other brokerages.
Major downside is whenever you require any customer service. Expect to wait 1 to 1.5 hours to make initial contact with someone who is just a gatekeeper to transfer you to another department. Then, expect another 5-30 minute wait to speak to a low-level person in the applicable department. This person will generally try to transfer you again and you will have about a 25% chance of resolution (generally have to hope they do what they say and you don't have to call back in to go through the process again).

by RayRay, 12/29/2021

Pros: NONE


They NEVER answer the phones, you have to be on hold for hours. Their App and Web UI is extremally outdated. I regret doing business with Merrill.

by Ash, 6/16/2021

Pros: Easy to link to BoA account

Cons: Poor customer service, did not fulfill signup offer

I signed up with MerrillEdge thinking it would be easier because of link with BofA checking account. Unfortunately, these guys are not even close to other trading platforms. This is because I did not get my bonus signup offer, and was put on hold or "I will look into it" with no response. I am fine someone not fulfilling their side of offer but just no response or ignoring is disrespectful. Finally, after 5 calls I have reached s stage where they still say, "I am looking into processing it at back-end." But my time is not worth it, so moving on.

by Dave, 6/15/2021

Pros: They will happily take your money

Cons: They won't give it back

PLEASE heed the warnings of these 1-star reviews and do not lose your money with Merrill Edge. I have been trying to close my account for months and they just won't do it. I have spent hours on the phone with customer service. Most of that time is spent on hold, and then I briefly get to speak to a human who says they need to transfer me and then I'm put on hold again. One guy finally said he could help but just needed to finalize one thing and would call me back at 8am the next day. He never called, and there is no way I can call him back directly. I've been into a branch twice and filled out paperwork and was told my check would be in the mail within a few days. That never happened. I have submitted paperwork online only to get follow-up emails that yet another form is needed. I find it hard to believe they could actually be this incompetent - instead it feels like a purposeful ploy to keep my money.

by Frustrated Customer, 6/15/2021

Pros: None

Cons: Unresponsive, dishonest and shady

I had a brokerage account with Merrill Edge. I liked the mobile app (even though it was frequently down for maintenance, so I stayed with them for a few years. But after calling their customer service once, I moved my business to Fidelity.

By unfortunately, my 529 college savings plan is still stuck with them and they won't release it to be moved to Fidelity. I'm calling them constantly but to no avail. I'm at my wits ends.

Rude, dishonest, unresponsive and just shady. They will keep you on hold for 20 minutes and up, they say they'll look into it, and they won't. Avoid them like the plague.

by Steven, 6/3/2021



Absolutely the worst customer service. Expect to hold for 20 minutes for someone to answer the phone. They will never follow up with you, you will always have to call them. We tried for months to receive our mothers life savings when she passed away. Merrill threw roadblocks and delayed paying us for months. Stay away from Merrill.

by Schultz, 6/3/2021

Pros: Can't think of any

Cons: Their Cash Sweep Program

What an awful experience to use Merrill Edge, they sweep your cash away to make free-riding violations happen. There SHOULD be enough money in your account to cover day trades, but you look to see why they have given you a violation, and the reason is because they sweeped your cash out the day before. I am sick of this carry-on. Even though they caused the issue, they will still count that strike against you and will limit your account after that happens 3 times. If you call them, you are talking to someone who may be rude and will not listen to what you are saying. Absolute garbage!

by Q Wei, 4/28/2021

Pros: None

Cons: The worst

I had an E*TRADE brokerage account for over 10 years, but recently also opened a Merrill edge brokerage account because it can be easily linked to my BOA banking account. This is is worst decision I had ever made. They did not even approve my level 1 option trading application!!!!!! What could go wrong with a customer writing covered calls against their underlying stocks??????

by Bob Proberson, 3/1/2021

Pros: Instant transfers from BofA, friendly (inept) customer service agents

Cons: Terrible UI, Poor math on the website, Literally stealing my money, etc, etc

Too many things to mention. Basically, I decided to transfer out of ME because they were charging me a margin balance while simultaneously holding cash to cover it. When I called, the customer service guy said, "Yeah, that's strange. Let me look into that."

I have heard phrases like, "I will look into it," and "Everything should be fixed by tomorrow," EVERY DAY for the past month.

I transferred accounts to E*Trade. For some reason, Merrill pushed out a margin debit but held and froze my cash. Five weeks later, they still haven't transferred the cash, my account is still locked, I spend 1+ hour with them on the phone daily, and I have a margin call at E*Trade. Does any of this make sense to you? It shouldn't. It sucks. Avoid Merrill.

You have been warned. Their buggy system is not worth it.

by Bill, 2/23/2021

Pros: Haven't found one yet

Cons: Worst service I have ever seen

I faxed in new account paperwork for Merrill Edge. A week later I called to check on it but hung up after being on hold for too long. A week after that I called and waited through the hold. I was told that I would have an account within 3 days. 3 days later I got a call and they gave me an account number. It wouldn't let me access it online. I called and waited through the hold and got someone who couldn't help me and hung up during the lengthy hold after being transferred. 2 days after that I called back, waited, and got someone who tried to set up a user name and password but couldn't. I got a return call while I was on the phone and a voicemail with an extension. No one answered, no voice mail, another wait for an operator who wanted to transfer me. I hung up and am done.

by mack, 2/17/2021

Pros: none

Cons: punishing at every turn

the website is dismal and unresponsive. the phone answering is dismal and unresponsive. the representatives are handcuffed by a corporation which is dismal and unresponsive. There is no indication anywhere on the website or the phone that anyone responsible for the disgusting encounters which typify Merrill's website and phone has even the slightest interest in improving. No request for feedback, no direct contact, no consideration of any practical value. The disgust Merrill has for its investors is evident by the its tardy tax reporting documents. They have the resources to announce in January that reports a-b-s-o-l-u-t-e-l-y will NOT be available in January (like every other brokerage house IS) but they do not invest that same effort in order to rise to the level of merely competent or law abiding by getting their reports out ON TIME. Announcing they are incompetent they can do, BEING competent they cannot. speaks volumes. you do NOT need this terrible organization.

by Kevin, 2/16/2021

Pros: Easy to deposit money into Merrill

Cons: Impossible to withdraw your money from merrill

Disaster of a business- very consistent with the disaster that is Bank of America.

Spent hours on hold waiting for customer service. Have been unable to withdraw my cash balance.

by Vijay Munshi, 1/20/2021

Pros: None

Cons: Transfer my Residual Money

I am in the process of transferring my full account from Merrilledge due to many problems for the past 4 years. Now they are giving hard time in transferring my own residual money, they keep on saying different answers it will take 2 weeks, 5-7 days, every Thursday to transfer my remaining residual money.

I recommend everyone to stay away from Merrilledge. Their platform is unreliable.

by Mike Sherrill, 1/15/2021



Incredibly bad customer service.
Terrible wait times. When I finally got through it was a recording saying, "leave a message"! Essentially there is no customer service or trading desk because you can never get through to anyone. Whoever is "managing" these departments should stop smoking pot. Absolutely key stone cops outfit.

by Al, 11/16/2020

Pros: affiliated with Bank of America

Cons: won't give you your money back

We have been trying for months to get a simple IRA transfer from ME to a bank. They will not send the money even though all the paperwork is there. They keep on telling us every week that it is on its way. It has been 12 weeks. Go somewhere else!

by Charles Messier, 10/7/2020

Pros: Free stock commissions

Cons: Worst online broker

This has to be the worst online broker ever. No customer service,
site goes down way to much and when you need to put an order in it takes 20 to 40 minutes to get in to them on the phone. They loose paperwork and they promise you everything as a Premier member and you get nothing. Go to Fidelity they beat Merrill hands down.

by JH, 8/18/2020

Pros: Absolutely nothing, trying to send them business.

Cons: Deceptive advisors, negligent communicating, wasting day after day in fiduciary issues, should be called Merrill Breach!

I needed a transfer. Merrill's account executive roped me in, swearing no problem, knew exactly what to do, in the exact circumstance. Turns out, that was a lie. The "advisor" was oblivious how to even start. A transaction that could have been completed and submitted in half a day was still not done, for over a week. Everybody I talked to, but one gentleman at Merrill that could not help, but wanted to: otherwise, they all, to the man or woman, lied they would follow-up on the problem, when the original "advisor" vanished, senselessly leaving risk assets at risk, for dragging their rears. My experience with Merrill was deception and complete incompetence, in what amounted to a simple paperwork matter, add to that no empathy or sense of fiduciary duty to the customer, such that it makes you wonder if Merrill only hires lying crack babies, that don't even care to follow-up or return very important phone calls.

In any event event, Merrill is in the Twilight Zone or Bizarro World. Don't even consider doing business with these people, unless you're a glutton for punishment and like liars, like senseless aggravation, that could also lead to financial loss.

Never deal with any person, or, worse, body of people that lie to you and cause customer aggravation. Huge, huge red flag! Find somebody competent that cares and attends to your finances as they would their own, a proper fiduciary. Merrill, look up that word, let me spell it: F-I-D-U-C-I-A-R-Y. Look it up, if you can extricate your heads from your sorry, lying rears long enough.

by Annette, 7/27/2020


Cons: Message center is only for documents not communication.

This place is the worst! I have been trying to manage my incapacitated mother's account. It has been 3 months now and I have filled out all of the forms (lots), done everything asked, I am still trying to gain control. At this point only 1 person can help but he is never in. Have been calling for days, sometime 6 times a day.
Tried sending a letter through Merrill's "secure message center" but it is only for documents. Seriously!
There are lots of employees to help you, but none of them are actually empowered to help. The 24/7 help line is a joke.
Merrill gets one star from me only because there is nothing lower.
This isn't the first problem I have had. Stay away.

by cetavion, 6/12/2020

Pros: by far the best


I only had used Robinhood for brokerage account before having Merrill edge. Merrill Edge has so much of rich features than any other brokerage mobile app and websites. I tried others like Vanguard, Fidelity, TD Ameritrade. Merrill Edge is the best.

by nimsterflorida, 6/4/2020

Pros: Great experience


Love it . Had 4000,000 in account and they don’t keep calling or annoying . Let me take my time to invest and send tax papers home and zero drama . Peace

by craig8009, 5/28/2020


Cons: Not a very good application for trading

This app is at best 2star , may be they outta look Robinhood app and learn how to develop the app .50% of the time it takes long time to load, navigation is not very good, the graphics over laps, I hate to do it but I am slowly moving my money into Robinhood, free trading of options, stock, etfs you name it and app is fantastic. Look into other apps and see what they are doing better, take note and update then may be people will stick around, you may keep the old customers but to get new customers, this app needs complete overhaul.

by R.Rajput, 5/10/2020


Cons: 2 stars because of tiring trade experience

So i use this app solely for trading purpose. I have been using merrill since 3 months and I’m wondering why no one has yet complained about how time consuming trading process is

1. Main issue is i have to place the same order 3 different times to cover pre-market, market and post-market

Imagine I’m placing 10 scripts order and i have to do the same thing 10x3 times

How tiring and time consuming it feels. Please check Robinhood’s take on same scenari

2. While placing trade order, on trading page security price should be updating in sync with current market rate which gives user vision to take right decision

3. All Trade order status (including expired, cancelled) history should be kept and given buy/sell option right there so user can place the same order using quick steps

4. Charts are not interactive, app graphics are not dynamic and live as mostly leading investment apps provide

by GrannieU, 4/22/2020

Pros: Excellent way to trade


I love my Merrill Edge trading app and Merrill Edge. The dashboard is very cool and it seems with each update more features that I just thought would be nice are implemented. Investing staff is super and they seem to be familiar with the application so if you want to know if you can do something give them a call. I recently called about the order of my accounts and was walked through how to make the change.

by D Wornock, 4/22/2020


Cons: Merrill Edge retains fifty dollars ($49.95) of your money.

Merrill Edge will not return $50 of your money because they will retain fifty dollars ($49.95) as a fee to close out your account. However, their “Closeout fee” is $0 so the fee is deceptively labeled as “Full account transfer fee.” I shouldn’t need to point out that few people, if any, would believe that withdrawing money by requesting a check or deposited to money to your bank is an “Account transfer.” And, you cannot transfer a brokerage account to a bank or by a check.

Three times, I requested that Merrill Edge return my money and all three times my requests were rejected for insufficient funds. Twice I requested a transfer to my bank and once I requested a check. I called Merrill Edge and the lady I spoke to said I cannot withdraw all my money because there is a $49.95 closeout fee.

Merrill Edge website states:
Full account transfer fee: $49.95 (would not be charged in addition to closeout fees)
Closeout fee:
..... $49.95 retirement accounts
..... $0 non-retirement accounts

And I have a non-retirement account. Therefore, regardless of the type of account and whether or not you request to close your account, Merrill Edge retains $50 of your money.

by Felipe T, 3/27/2020

Pros: Seamless transactions with Bank of America

Cons: Too many to say

By far the worst trading platform for a day trader. Merrill Edge Pro is more of an amateur. Limitations order entries i.e. trailing stops on options. No one button push for order entry, too many bottom to press for order entry. By the time you enter your order the opportunity is almost gone. Customer service is nothing but a headache and they do not help at all. Their system crashed recently but they would not reimburse account for their error. Dealt with them for years thinking they would improve but to no avail. They obviously don’t care enough to improve what they say is a robust platform. STAY AWAY FROM THIS “BROKER”. Pure garbage.

by EcklarA, 3/17/2020


Cons: Lost Functions no improvement

With this new Merrill Edge App I can no longer enter extended hour trades that was and still is available on the old app. Also, this app does not allow you to enter any fixed income trades such as insured CDs or bonds. Why do competitors offer these expected basic functions but you do not when you are suppose to be the best?

Furthermore, when selling a position, this DOES NOT allow you to sell versus a purchase date for tax loss harvesting or simple tax planning. It is time for the creators of this app to seriously update it to exist in even the most minimal of modern worlds.

by Илья Бочаров, 12/4/2019

Pros: 5

Cons: 2

Мерилл это хороший брокер. Пользуюсь его услугами около 2 лет наверное. За это время сумел заработать большую сумму денег, купил дома. Отмечу хорошую работу консультантов, хороший функционал торговой площадки а именно платформы маркетпро и еще хорошая техническая поддержка. был случай когда у меня вывод на несколько дней задержали чем обычно. Обратился в саппорт и мне там все в ручном режиме подтвердили, на следующий день перевод был осуществлен. В остальных придирок нет кроме комиссий наверное.

by John Leonard, 10/16/2019

Pros: Can't think of any.

Cons: Too many to list. They lie, cheat and steal, otherwise they are great.

They only make money for themselves, not you. Poor advise, poor trading. They make it extremely difficult to move your money or take it out. Very bureaucratic and impersonal. Stupid rules that they will not make exceptions to you. Worst financial group I have ever done business with. Never again.

by JM - Annoyed, 10/6/2019

Pros: After thretening to move all my money they did do some follow up

Cons: Antiquated systems/too many changes/Make it difficult to invest your money and to get it out.

If I can give them a zero star rating I would. Merrill Edge/Lynch and BoA are quick to take your money but the second you want to move your money they make it absolutely difficult. I've had multiple issues with them, but this is my latest. For 2 months now I've been trying to transfer my Roth 401K out of Merrill Edge and it has been a horrible experience that has yet to be resolved. For starters, I was told I needed to submit paper work either through fax or mail - my only 2 options. I repeated asked about the paperwork and they assured me that the only thing they needed was the paper work from the receiver and that the paperwork will be received somewhere in Arkansas - there was NO ONE to talk to. I filled out the paperwork and mailed it. I followed up a month later to find out that the paperwork was NOT received. So I then had to figure out how to fax the papers and again I asked if this was the ONLY information that was needed was from the receiver side. THEN Merrill called me up to tell me that they needed additional paperwork from their side. So I had to go and fax those set of papers in. THEN after ALL that, some people from Merrill Edge calls me up to tell me that ALL I needed to do was to do some online request - WHAT?!?!?! That even made less sense to me. I still have no resolution on this issues.

by Wilson, 8/14/2019


Cons: They are thieves

Please please please stay away from Merrill edge they are thieves, they take your money!!!!!!

by GUEST, 6/29/2019



Beware when you call on the weekend or after hours..........they have limited information and they will give you

a runaround and lie to you they do a lot of misinformation and they are good at it

They will give you a runaround to get rid of you on the phone and a bunch of BS

by Jim, 3/17/2019

Pros: 100 free trades per month

Cons: Research is poor. Trading platform is average at best

Overall I'm satisfied with Merrill edge. I got a $600 bonus to open my account and 100 free trades a month. The research is pretty bad and their online trading platform has a few minor problems. Specifically, trades can have a short delay and this can cost you a little money. I'm not a day trader but I do make a few trades a week on average so I occasionally notice a slight delay. But I've never paid them i dime in the two years I've been with the firm so I cant complain. My investment knowledge is somewhat above average so this works for me. I would not recommend for folks new to investing or day traders.

by Noah Servicaco, 2/4/2019

Pros: Nice connection to BOA

Cons: Unresponsive to customers!!

Can't get my assigned rep to call me back. They owe me money on some overcharged commissions and after 3 emails and 3 phone calls, I can't get a Manager nor my rep to call me back. If I owed them $400, they could just shut my account down until I settled, but to get them to respond to what they owe me is like getting a bill enacted in Congress

by Richard Silverman, 1/17/2019


Cons: Customer always comes last

Lying sacks of crap. Avoid dealing with these people. They made a commitment to me that they would accept some low priced securities into my Merrill Edge account. I took the necessary actions to transfer the shares based on a written approval from company compliance. At the very last minute, they called to say they made a mistake, it's against their policy to hold these shares and sorry, but I guess you are screwed. And no, we won't do a damn thing to assist you even though we made a written commitment.
If you want excuses and the opportunity to deal with management ass-kissers, yes-men, and toadies when you have a problem, open an account here. If you want a company where management takes responsibility for their own mistakes, then find someone else to buy and sell your stocks.

by Merriledgesuckssobad, 1/11/2019

Pros: None

Cons: Cons upon cons

The Merrill Edge app is terrible. It is riddled with errors and forces you to exit and relog back in. This has happened several times during active trading which has costed hundreds if not thousands of dollars. Despite making several complaints, BOA or Merrill Edge will bot do anything. As a matter of fact, one rep seemed like he was trying to talk me into a wash sale all because he had no idea what a wash sale was... screw you merrill edge.

by Rich Garbarini, 11/19/2018



I opened a moderate/low risk account. Merrill Edge represented I would have a 40% exposure to the market. Instead, I had a 55% exposure and they purchased some high risk small cap stocks.

When questioned why I lost 5.4% at closure (after losing 5% in 8 months), they said it was because the market went down 11%. When i told them the market actually went up .2% they said a good portion of my investment was in foreign stocks and low cap companies.

They also said that a lot of the final losses occurred months earlier but were not realized until I closed the account. This means they were artificially inflating the prior statements to hide losses.

They attempted to play games with the numbers not realizing I was an astro-physics minor and science major and mathematics comes naturally to me. They kept changing the story.

Scam! Stay away from this company.

by JohnJohn, 10/31/2018

Pros: Good account opening offer

Cons: They won't let you access your money

I wired in a large sum of money into my new account, expecting to be able to use it to buy stocks immediately. The money arrived in the account OK but they put a hold on it so I can't use it. The whole reason people use wires is for instant transfer, not for the money to sit on hold for some indeterminate amount of time!

by Moe Azimi, 10/8/2018

Pros: 100 Free trades per month, after 3 months of cumulative account value of 100K.

Cons: Worst broker ever. read details below

This is a very honest review.
I am using Merrill Edge for 1 year now as my primary broker for stocks primarily. The commission of this broker is at $6.95 per trade. The reason I am still with them is that I get 100 free trades per month thru their reward program( besides the free trades, everything else is a disaster).

They been around for years, I am sure more than most of other competitors. Their trading platform (marketpro) sucks big time.. Very based web-based. All active traders should stay away from this disaster 100 miles away. They have something called "Safepass", pretty much prior to entering a trade you have to get a code in your phone as SMS to verify the trade. You will definitely not going to get the entry you desire in a trade.
There is no "HotKeys" to place orders. Everything has to go thru a manual entry with a verification step which takes few seconds to place any type of order.

The dont have a good stock scanner tool. They brag about their research, yet they dont provide a Premarket or aftermarket gappers list.
Anyway, I am about to say good bye to 100 free trades due to all other problems that come with those free trades. The 1 start is due to its free trades. other than that its a "ZERO".

by Sri, 9/18/2018

Pros: None

Cons: Be careful. They cheat

When I opened Edge account, they promised me that If I invest $50,000/. I get $600 rewards.
After 6 months, now they are telling me that since I transferred money from BofA I am not eligible.

by Brad Strong, 8/7/2018

Pros: Preferred Rewards

Cons: Customer service, issues with options, issues with low priced securities, issues with website, issues with dividends reinvestment and more.

I moved my account from Sharebuilder as they were closing, by the way never had an issue with that broker to Merrill Edge. I joined because of the Bank of America Preferred Rewards which are nice. Read lots of reviews good and bad. I figured any major bank going to have some issues but it seems to be one after the other. They messed up my transfer that I had put in months before as I knew I was deploying and took weeks of calling everyday for hours right up to the day before I was deploying for military duty to get fixed. Luckily I got one representative who understood and worked the issue to the end which was nice after going through 5 different ones before who did nothing but repeat same thing over and over. That was the start of issues. Now I cant reinvest dividends from certain companies which raises my taxes when paid as cash which is unacceptable and each representative gives same excuse with no real answer or fix. There is no real way to submit a complaint or issue except to talk to a representative instead of sending a form or email or call to a complaint center which tells you they don't seem to care or hope it will get lost in the mess of representatives and hope you forget at that point. They have changed their low priced security policy which makes it even harder to buy the stocks you want. I will continue to try out the free trades which is the only positives of the preferred rewards program and hope things get better. If not I will transfer to a better broker and pay slightly higher fees for trades but get better use of my assets with less hassle. If you are thinking about joining I recommend going somewhere else I miss sharebuider and starting to question if I should have let it go to E-Trade. The only benefit is the preferred rewards program but I am starting to question if it is worth it.

by DucdeRicheleau, 8/2/2018

Pros: 100 Free Trades

Cons: Cannot trade with the IRA money I transferred to ME, over sensitive software which claims violations when there aren't any

I transferred a 6-figure sum into an IRA account with Merrill Edge four years ago. It has been grayed out ever since and not even earning interest. With the previous custodians it was earning money, now with Merrill Edge it earns nothing for me. I have tried contacting them and asking what the problem is, no resolution of the issue. I also did not get the cash incentive that they advertise. As far as I can see, you just don't get it. I have ignored the problem with my IRA until now, because I was trading with other money. Enough is enough however.

by Steve, 6/11/2018

Pros: None

Cons: Too many to list!!!

Limited investment selection, limited to 100 options per trade, unnecessary manual review on orders, delayed option quotes

1. Option orders are limited to 100 contracts. You need to call into the trading desk for larger orders. By then, the market has moved away from you! Many times, you sit on hold for 30+ minutes to place an order!!!

2. They "REVIEW" your order before it hits the market which will delay your trade.

3. If you transfer your account out, they jerk you around and it takes weeks. They screwed up mine, and held $400k hostage for 3 weeks before releasing it to my new broker!!!

Stay away from it if you are an advanced trader.

by John, 3/19/2018



Custom Service at Merrill Edge is terrible. They play the game rather than solving the problem. There is a 4-days window prior to issuing 90-day lockout penalty which Custom Service didn't inform you before the deadline reaches. Also it takes so long to settle the funds. You have to wait for 3 days to reinvest after you sold your fund.

by Platinum Honor Customer, 3/13/2018

Pros: 100 Free ETF/Stock trades per month. Negotiable option trading fees. All BOA and brokerage accounts in one page

Cons: Limited investment selection, limited to 100 options per trade, unnecessary manual review on orders, delayed option quotes

1. Many investment options are blocked.
USO is blocked but UCO which is 2x risky is not. Many others you name it. They don't provide any blacklist to you.

2. You can only put 100 options in each online order even for a 20c long call

3. They "REVIEW" your order before it hits the market which will delay your trade.

4. When you want to close your option positions, they put a manual review on it which is ridiculous.

5. Your quote on your options trading on their website is 15min delayed quote which is absolutely not acceptable.

Stay away from it if you are an advanced trader.

by Rick s., 2/11/2018



I had to call Merrill Edge 6 times to have my tax papers sent to me last year. Twice so far this year. I’m well aware that I can access them on line but I want them sent to me, I figure that’s the least they can do. I really don’t think they have anyone working there that gives a crap or just don’t care. POS company

by George H., 2/6/2018

Pros: None

Cons: Will find ways to keep investment returns from customer

Merrill has prevented me from using funds in my IRA account to purchase stocks within Merrill Edge. I sold some stocks and tried to purchase more the next day. After purchasing just one stock, my account was locked because I had not waited 2 days between trades (something they don't tell you is against their rules). Further, they imposed a 90-day lockout penalty since I had "violated their rules" with the next day trade. They said if I would deposit $3800 more in my account, they would consider lifting the 90-day penalty. In effect, they are making money off my account for 90 days and I get nothing, tantamount to account hostage piracy.
Please be warned that Merrill Edge is not a safe place for your IRA or investments, since they will come up with some scheme to cheat you out of your returns.

by Douglas kronemeyer, 10/20/2017

Pros: None

Cons: They dont return calls and dont follow through on cutomer requests

I'm not sure if they are incompetent or if they just dont want to let go of your money. We are on our 6th account manager since December and have been lied to or given incorrect information several times.

by cpg, 10/19/2017

Pros: Pros: Nothing, really, yes fees are spelled out in large text!! No minimum to open, but that comes with some caveats...

Cons: Cons: ETF's are not free like Schwab has over 1,000+; and 5600 no transaction funds vs only 2700 with Merrill Edge

Old school circa 2002 web site, you can't see which mutual funds are no transaction fee until you open an account, you can fund it with zero dollars but the hassle to cancel/close out your account is not worth it. And if you call to inquire on tickers, the Call Center rep will go into their account and set up position to see whether a transaction fee or not, HOW RINKY DINK is that!

There cash offer promotions are not even market competitive to Schwab, Schwab offers a $100 bonus for new taxable accounts, for $1,000. I asked Merrill Edge if they would match this promotion, no reply to my e-mail or call back. I even called the branch and left a message with Merrill Edge FA no returned call. VERY UNPROFESSIONAL. Also, Every direct competitor has Chat day or night, not Merrill Edge, chat unavailable and I observed this for months. You can call and get some sales bluster or send an email and hope and pray for a reply, Likewise at the Bank branch the FA;s don't return calls, WHY? It's beneath their level of financial prowess.

On balance, Fidelity, Schwab and Vanguard, even Scottrade allow you to use their mutual fund screener tools not Merrill Edge until you become a customer and find out how few funds are no transaction fees true no loads.

by Unsatisfied Client, 10/3/2017

Pros: Free trades if you have a high enough balance

Cons: Advisors don't have a clue what they're doing

My experience with ML Edge has been very negative. They have cost me more than $2,000, because they botched an account transfer leading to a trade being rejected. When the account transfer did finally go through, the trade was placed at a far less favorable price. This all took place because the person who was handling my transfer was in training, and there was no follow-up with the transfer being input properly. If the person training the new advisor was doing his/her job correctly, they would have made sure the transfer was processed correctly. Instead the mistake was not realized until 2 weeks after I submitted the paperwork, which is when I followed-up to see what the status was.

Ultimately, they don't take ownership for their service to their clients, because they work in a call center and are not required to maintain relationships.

Also, the website is very limited. It doesn't provide a lot of detailed information related to individual securities. I'm forever having to reference a 3rd party site to get more information. Not to mention you're very limited on the type of trades you're able to do through the website.

If you're considering an online broker, DON'T GO WITH ML Edge!!

by Brian, 8/31/2017

Pros: Free Trades if you have a large enough relationship balance.

Cons: Lack of personal attention and follow through.

There's no continuity with what each representative tells you. Because you're working with representatives in a call center, there is also a lack of follow through. It seems like the reps you speak with either have little flexibility to do anything, or they lack time/motivation since they work in a call center, so you have to continue up the chain of command to get anything done on your account.

by no way if you're a day trader, 8/24/2017

Pros: link with BoA

Cons: Slow, inefficient

the worst trade platform. impossible to navigate - trade, order status, etc. they are all over the places. and the highlight is "PASSCODE". Submitting order is not the end of trade process. You have to spend a couple more minute to get "PASSCODE" through your phone or email. Their trade platform (Market pro) is the worst. You still need to enter "PASSCODE". And settling money after trade will take several days. NEVER EVER DEAL WITH THIS imcompetent.

by Doreen, 8/21/2017

Pros: None


My Mother passed away and she had an account from her Mother. That money has been there for many years. Now I get the run around just trying to close the account and have the money sent to her estate account so we can finish the probate with the courts. Sent from Merrill Lynch to Merrill edge, never explaining why. Two months later with no resolution in sight. A 2 hour phone call from the attorney and no results, just paid more money for nothing. Stay away from this company, as if the process of losing my Mother wasn't enough. I just want to move forward and it's been very painful for me. They are CROOKS! DON'T GIVE YOUR HARD EARNED MONEY TO THIS BIG CORPORATION. THEY DO NOT CARE ABOUT YOU!

by Linda Nothaft Brousse, 7/14/2017

Pros: Absolutely none. Lie. Grossly incompetent

Cons: Never return calls or emails..

Took them 5 months to transfer money mother needed for medical care. Now she is deceased continued delay tactics for 10 months still can not get them to liquidate and transfer accounts out of this financial institution, Absolutely DO NOT do business with this company.

by Jim, 7/14/2017

Pros: None at all. You're better off keeping money under the mattress then invest with these crooks.

Cons: Dishonest, manipulative and unresponsive

I had a very bad experience at Merrill Edge and I would not recommend it to anyone. I opened one of their managed money accounts through a so called "Financial Solutions Advisor" in one of their Bank of America branches. It was doing very poorly so I tried to talk to the Financial Solutions Advisor to put it in a different product. I couldn't get her on the phone and she didn't return my calls. After several attempts I finally was able to get it changed. It did even worse. I then decided to move the money to a different company. I called her and asked her to convert my account to cash for the transfer. After two weeks she hadn't done it. I called again. I called again. She still hadn't done it. It took a month of calls to get her to do this. Terrible performance and incompetent personnel.

by John, 5/24/2017

Pros: BoA perks

Cons: Everything Else.

I was working with a financial adviser for 2.5 years at a local branch. However, he tells me he's going on baby leave for 3 months, and when he gets back, we'll complete making some changes to my investments and strategy.

4 months later, I call to find out when we will make changes, and I finally find out (after 3 weeks of trying) that my financial adviser is no longer with the company and that no one has taken my accounts over.

Meanwhile, I start to take a closer look at my investments since I don't have a financial adviser only to find out that he recommended several investment choices that were against my financial objectives. There were clearly better choices out there and he failed to even offer them to me. I admit, he was a good salesman.

I tried to talk to a different financial adviser, but every time I called in, he was busy, and I got shuttled off to the next adviser in the queue, who had no clue on my history or my objectives. I continued to get conflicting advice.

I'm 3 months into my filed complaint, and I am yet to get any resolution. Merrill Edge continues to miss deadlines for promised call backs, answer basic questions about the status of my complaint, they continue to provide conflicting advice on what I should do with my account and what remedies may be available.

I am getting nothing but the run-around from Merrill Edge.

To think that I entrusted all of my investments with them, and paid them a lot of money, is horrifying.

Never use this company.

by Joan Zehrt, 3/10/2017

Pros: Pleasant

Cons: Dishonest Nonresponsive

Unwilling to allow one to withdraw their own funds. Will encourage movement of funds into Bank of America mutual funds which are performing poorly. Will quote rates on CDs and then not have those rates on the CDs. Will promise to correct the problem but do nothing. Will leave customer on hold for 30 minutes and then hang up.

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Leading Brokerage Review Websites About Merrill Edge

"This online stock trading service has lower-than-average prices and an advanced trading platform with standard features, which means that it is a good choice, but there are better choices. However, it is also a well-established broker, which may make it more attractive than newer businesses."

TopTen Reviews
"Merrill Edge has some helpful online tools and may be a good option for those who bank with Bank of America and want to see their banking and investment accounts side by side. It is also a great option for those who meet the 30 free trades requirements. However, It isn’t the cheapest option and customers have complained about slow customer service and slow updates on available funds and trades."

Investor Junkie

"Merrill Edge provides investors with several key highlights: excellent customer service, up to 100 commission-free trades each month through its Preferred Awards program, robust research, and great ease of use for Bank of America clients. The primary drawbacks revolve around the broker’s basic mobile apps and lack of order entry capabilities: no trading on the fly, no conditional orders, max two legged options, and no direct market access."

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