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Frequently Asked Questions
The minimum initial investment to open an account with MerrillEdge is $0. One exception is the account called 529 NextGen Direct, which requires $25 minimum.
Merrill Edge and Merrill Lynch are both subsidiaries of Bank of America Corporation ("BofA Corp.").
Merrill Edge aims for self-directed investing while Merrill Lynch provides professional wealth management services.
Merrill Edge offers beginner's education materials to help new traders learn about the stock market as well as step by step guidance.
It also offers $0 minimum investment to open an account and a full range of investment options for self-directed investing and guided investing.
Opening an account at Merrill Edge should take around 10 minutes if you have all the required personal information ready.
You will need your Social Security number, Date of birth, Employment information, and General financial information, plus valid postal and email addresses.
There is no fee to open a Merrill Edge account, but for some specific types of account there are minimum deposit requirements.
MerrillEdge offers $0 commission on all online US-listed stocks and ETFs trades with no trade or balance minimums.
Merrill Lynch has been implementing the DoL Fiduciary Rule since June 09, 2017.
MerrillEdge as one of the subsidiaries Merrill Lynch acts as a Fiduciary and fully complies with this rule.
Merrill Edge accounts are insured by the SIPC instead of FDIC.
SIPC insurance provides coverage up to half a million dollars in equity with up to one quarter million of this being for cash.