Merrill Edge - anyone use this?

30 free trades per month with acct balance > $25k, basically.

Seems like a decent deal, so I was wondering if anyone here has tried this and what you might have to say about it.

Thanks.

http://www.merrilledge.com/m/pages/promos/trades.aspx?src_cd=SDPS1

 

I use them for one aspect of my trading, but if you are looking for the best fills, look elsewhere. They are ok for swing trading and limit-order trading, but not good for the active trader. They even admit in the fine print that they are not for active traders. Only good part for me was access to money thru BofA branches when needed - just move money from ML or your bank and available in minutes.

 

Thanks.

Here's a fee summary for anyone else who might be interested. I'm not too crazy about the account transfer and close-out fees.

http://www.brokerage-review.com/stock-brokers/fees/merrilledge.aspx

 

If u are looking for secured brokerage that will never go bankrupt, merrill edge.


"Too Big To fail"

 

BoA had the same deal even before they bought Merrill. If you can afford to keep $25K in a deposit or CD account earning near zero interest and not available for trading, it may make sense.

 

the snapshot is done nightly, so if you have 25k and you liquidate everynight you qualify for 30 free trades.

if you swing trade then you make your purchases, keep the trades on as long as you want, then when you liquidate everything you would qualify again anyways.

also, its 25k cash OR 50k assets. so 50k invested would still get you free trades.

 

Anybody ? It looks like it's pretty cheap. Wonder if anybody uses ME.