Merrill Edge
#4 in Stock Broker · Rated 4.2
Bank of America-backed self-directed investing with $0 stock trades
Merrill Edge Self-Directed is Bank of America’s online brokerage, offering a simple entry point for U.S. retail investors who want zero commissions on online stock and ETF trades. The platform combines Merrill Edge’s research and insights with Bank of America’s broader banking ecosystem, appealing to mass-affluent users who value easy access to cash management and rewards alongside investing. Options trades are free online, but carry a $0.65 per-contract fee; broker-assisted trades can charge up to $29.95 or 5% of principal. The service has grown to support millions of clients, and is supported by Merrill’s research franchise. While the cost base is highly competitive, the platform can be less feature-rich than pure-play brokers for advanced traders, and the best value often comes from heavy Bank of America ecosystem usage. Merrill Edge remains a solid all-around option for everyday investors seeking simplicity and compatibility with banking needs.
Features
- 0 online stock/ETF trades
- 0 online options trades (0.65/contract otherwise)
- Deep integration with Bank of America accounts
- Broad access to bonds and mutual funds
- Capital and cash-management integration
Pros
- Zero stock trading fees with strong banking ties
- Excellent onboarding for Bank of America customers
- Solid research and educational resources
Cons
- Broker-assisted trades and some products carry fees
- Not as feature-rich for active traders vs specialized platforms