Most people who know anything about the financial industry are quite familiar with the name Merrill. They have been around for many, many years. Now, they have joined another very well-known company in the financial world, Bank of America. In 2008, Merrill Lynch officially became part of the Bank of America family of companies.
The combination of the two financial powerhouses created a formidable partnership that benefited its customers. Whether you are a beginner to investing or a seasoned pro, you will benefit from what Merrill Edge Investments brings to the table. Thanks to technology advancements and the Internet, online investing makes it extremely easy for beginners to get started and be successful quickly.
For this article, we put together some very valuable information about Merrill Edge which includes things you really should know before joining them. We also included some pros and cons to consider as well.
5 Things that You Should Know about Merrill Edge Investments Before Becoming a Member
- Merrill Edge offers three different types of investing – Merrill Edge realizes that not all investors are the same. For this reason, they have put together three different types of investment programs. You can choose their Self-Directed Investing, Merrill Guided Investing, and Personal Guidance. Each one offers Merrill Edge members unique features and functionalities to ensure a top-notch experience.
- Offers its high balance investors access to its rewards program – Rewards programs are extremely popular in the financial world and Merrill Edge has some very robust rewards programs available to some of its members. If you are a high-volume investor and your account balance is at least $20,000.00, you qualify for the lower level rewards program. With four different rewards levels, Gold, Platinum, Platinum Honors, and Diamond.
- It has ties to Bank of America – Bank of America is the second largest US banking and financial institution. Merrill Edge became part of Bank of Ameirca when Merrill Lynch was acquired in 2008 during financial crisis. Being part of the second largest financial institution also means that Merrill Edge has access to Bank of America’s customer base.
- Access to BofA’s Global Research – Being part of the family that includes the second largest bank and financial institution also means that Merrill Edge has full access to Bank of America’s Global Research. This puts Merrill Edge’s members in a much better position when it comes to making investment decisions.
- Merrill Edge Market Pro Trading Platforms – Merrill Edge has multiple online trading platforms, that can be either used on a desktop computer or a mobile device. Merrill Edge’s Market Pro is a powerful trading platform that puts your account data at your fingertips. Using an easy-to-navigate dashboard, tools, and research, making trades is simple and easy.
Pros and Cons
Pros of using Merrill Edge Investments
- All members have full access to high-quality research data
- Zero account minimum needed to get started
- No commission on stock trades, options trades, or ETF Trades
Cons of using Merrill Edge Investments
- Does not offer cryptocurrencies or crypto products
- Doesn’t offer fractional shares or Forex Trading