Merrill Edge spread and commission fees start from US Dollar 0.65 with spreads from 0.0 pips. Merrill Edge does not charge deposit fees and withdrawal fees. Merrill Edge does not document any inactive fees.
Finding a reputable list about Merrill Edge Fees and Spreads local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.
Below is an in-depth Fees and Spreads review regarding this regulated Forex Company, which will assist traders and allow traders to invest in their currency.
Fees and Spreads
Merrill Edge spreads are wide and varied. The spread list and fee schedule which is offered by Merrill Edge are not so transparent. Fees, spreads, and commissions that traders can expect when trading with Merrill Edge is as follows:
- Merrill Edge charges no commissions for online equity, ETF, or OTCBB trades.
- There is no per-leg commission on options trades. Per-contract commissions are $0.65.
- An order for 50 options contracts is $32.50.
- Covered call trade of 500 shares plus five contracts will cost $3.25.
- The joint fund commission for funds outside the No Transaction Fee program is $19.95.
- Fixed income trades for secondary issues are $1 per bond.
- Margin interest ranges from 10.13 percent for $10,000 balance to 7.63 percent for over $100,000.
- No inactivity fees, receiving wires, sending checks, or paper statements and trade confirmations.
- Sending a wire is $24.95.
- There is a $49.95 fee for fully transferring an account out.
- For retirement accounts, there is a closure fee of $49.95.
- The live broker fee is $29.95 per trade.
Additional Trading Fees
When trading financial instruments, traders can often expect that overnight, or swap fees will be charged when positions are held for longer than a trading day.
The Merrill Edge and MarketPro experience is geared more towards long-term investing rather than active, positional trading.
For more information on the swaps that traders can expect, traders can consult the Merrill Edge website. The Broker does not make adequate provision to supply a breakdown of each commodity and what spreads are involved.
However, Merrill Edge does state that it makes provision for an Islamic Account for Muslim traders who follow the Sharia Law and thus are prohibited from earning or paying interest where the holding of open positions is concerned.
Merrill Edge does not offer spread betting and thus spread betting fees do not apply.
Merrill Edge does not charge for deposit fees and withdrawal fees on the following payment methods used:
- Bank wire
Traders also need to ensure that they verify additional charges which may be waived by their financial institution. Besides, traders may be subjected to currency conversion fees should they transfer fees in a currency that is different from their account base currency.
Pros and Cons
|✔️ PROS||❌ CONS|
|Well Regulated||There could be hidden costs as no clarity on their website|
|Award-winning broker||Only for US clients|
|No deposit and withdrawal fees||No forex trading|
|Competitive trading conditions|
|Islamic Account/Swap-free provided for Muslim traders|
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How many instruments can I trade with Merrill Edge?
You can trade the following financial instruments:
Which platforms are supported by Merrill Edge?
- Web-based platform
Does Merrill Edge offer leverage?
Merrill Edge does not specify maximum leverage on its website.
What spreads can I expect with Merrill Edge?
Merrill Edge has varied spreads but does not specify exactly how much they are on their website.
Does Merrill Edge charge commission?
Is Merrill Edge regulated?
Yes, Merrill edge is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Is Merrill Edge a recommended forex trading broker for experts and beginners?
Yes. Merrill Edge caters to both beginners and experts.
What is the overall rating out of 10 for Merrill Edge?