Merrill Lynch is an old name on Wall Street. Founded in 1914, the major brokerage was acquired by Bank of America in the wake of the Financial Crisis in 2008. Today, Merrill Edge is the discount stock trading product from Bank of America.
Overall, it’s a competitive, commission-free broker that has some of the most in-depth research and educational tools. And if you’re a Bank of America customer, Merrill Edge is an obvious choice because of its integration with your bank and the Preferred Rewards program.
It’s also an excellent choice if you want comprehensive ESG investing and a wealth of investing tools for more active trading.
You need to look elsewhere if you want crypto investing and fractional shares. But for existing Bank of America customers or investors who value research and education, Merrill Edge is worth using.