![]() ![]() I can recommend Ally Invest, never had a problem except you're not able to sell specific tax lots there (that was my reason to switch). You always have to call! I would not recommend switching to Merrill Edge based on my experience. The lack of an account minimum, together with plenty of high-quality research. For Merrill Edge there is no help chat or messages you can send. Yes in fact, being beginner-friendly is one of Merrill Edges strong suits. For Ally Invest, I reached someone immediately and he was able to help. The difference in service between Ally Invest and Merrill Edge was day and night: - For Merrill Edge it takes some minutes until you get connected with an associate, and they start with the same BS every time ("Thank you for being a loyal customer blah blah."). Eventually, I reached out to Ally Invest again and they were able to provide the cost basis documentation from their side. I called at least ten times without any progress. contacting the clearing firm APEX (as advised by Ally Invest service associates), they just played dumb and left me alone with the problem, saying they couldn't do anything (which is BS). The service associates on the Merrill Edge side were completely useless! Instead of investigating the problem, e.g. I contacted both Ally Invest and Merrill Edge, nobody was able to figure out what went wrong. I transferred my brokerage account from Ally Invest to Merrill Edge and the cost basis did not get transferred. Naturally, you will get ban/violation for 90 days, for having done nothing wrong! If you attempt to contact them, they will insist this is not the case, and isn't happening, when it is happening. ![]() They are either too stupid or too belligerent to accept that they are causing these violations, where none should be. Overall, Merrill Edge is a solid, easy-to-use trading platform created by Bank of America, one of the USs largest banks. Merrill has at these times removed your money to their Cash Sweep program where they make money from your money, and they will not even listen to you trying to point out to them that you did not want this, and there should in fact be thousands of settled dollars in your account. ![]() This fee is charged monthly, based on your balance. When there SHOULD BE enough money in your account to make Day Trades, you will find yourself being warned about Free Riding Violations, when should have had settled money in the account. Merrill Edge Guided Investing keeps it simple by charging one flat annual management fee of 0.45. Merrill Edge's cash sweep program is not only pathetic, since you won't make any money from it while they remove your funds from the account, BUT more importantly it will cause trading violations on your account. Currently, the platform offers its services to US-based customers with some exceptions that are considered on a case-by-case basis. Merrill Edge is a US-based brokerage platform that is part of the esteemed financial institution Bank of America. Merrill Edge's cash sweep program is PATHETIC There is no crypto wallet offered by Merrill Edge. ![]()
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