Fidelity is a popular financial services firm that provides investment accounts and pensions with access to thousands of stocks, ETFs and mutual funds to clients based in the US, Europe and Asia. Fees vary by asset and account country, but are generally competitive, with zero-commission trading available on US stocks.
Merrill Edge is a subsidiary of Bank of America and has been operating as an investment advisory firm since 2010. The firm offers a range of investment products spanning stocks, ETFs, bonds, funds and options via its trading platform, MarketPro. Merrill Edge is regulated by the SEC and FINRA in the US and offers its services to US clients only.
Bonus Offer
None
$600 Transfer Bonus
Comment by Reviewer
"Fidelity is a great match for long-term investors who want an affordable platform to build their pension or investment portfolios. The SEC and FCA oversight are also good signs that the brokerage is regulated and trustworthy."
"Based on my assessment, I recommend Merrill Edge to US traders looking for investment and savings accounts at a reputable and highly regulated stock broker. It's also a great choice if you want to pay zero commissions on US stocks and ETFs."
Pros
Excellent list of stocks and funds to choose from
Very competitive pricing compared to largest rivals
Good list of account types to suit various types of investor
Uninvested cash is automatically put into a money market fund
Trusted global brand with strong regulation from SEC & FCA
Tax-efficient vehicles are available including ISAs
Overall, I think the MarketPro platform offers everything you need to trade US stocks, with access to advanced tools and indicators at no extra cost. I like that the platform can be fully customized too, with up to 25 saveable layouts
For those who are comfortable trading independently, I’m pleased to report that the broker’s self-directed account has no account fees or minimum balance requirements
It’s good to see that traders can access unlimited zero-commission stocks and options, making Merrill Edge a relatively low-cost broker for US clients
I feel very reassured that Merrill Edge is a highly established and well-regulated broker and I’m confident that clients can trade with peace of mind
I found an excellent range of investment options during my tests, covering a range of goals including retirement, healthcare or college savings
As an institution backed by the Bank of America, I’m pleased that the broker is able to offer margin in excess of $100,000 to traders
Cons
No forex or CFD trading
There is no demo account
Less suitable for short-term day trading
Presentation of data is overly complicated
No trading platform for non-US clients
The $1000 minimum deposit for international clients is high
I found that the guided investment account comes with fairly high account management fees compared to others in the market. Even with the full 0.15% discount for holding over $100,000 in assets, I think this fee is still higher than competitors
I noted that transactions both to and from a Merrill Edge brokerage account cannot be made by credit or debit card, nor e-wallets. Traders are limited to bank wire transfers or cheque payments instead
It’s worth mentioning that traders looking to trade forex or cryptocurrencies should look elsewhere, as Merrill Edge only offers securities
I think it’s a shame that only US citizens are accepted at Merrill Edge, though this is common at US brokerages
Awards
Boring Money Best Buy 2021 – Pension
Boring Money Best for Beginners Pension 2021
Boring Money Best for Beginners ISA 2021
Boring Money Best for Low - Cost Pension 2021
Online Personal Wealth Awards - Best Retirement Adviser 2021
Shares Awards 2020 - Best Execution-Only Stockbroker of the Year
#1 for ESG & Sustainable Investing
#1 for Banking Services
#1 for Client Experience (Self-Directed)
Instruments
ETFs, Mutual Funds, ISAs, Pensions, Stocks, Indices
