Their online tools are helpful and simple to understand. I get 100 free trades, negotiated $2.95 per options trade. I don’t know whether this applies equally to equity/ETF and open-end mutual funds. I haven’t tried their managed services yet but I went in for a consultation recently and the Fidelity wealth manager I met with was both professional and honest with me. Looking at options, the base fees charged are the same for both brokers, $0. 4. r/investing does not endorse any recommendation or opinion made by any member, nor do any users or moderators of r/investing advocate the purchase or sale of any security or investment. I've just opened ML account, since I've had BofA for a while. WSJ guide on how to pick a financial planner, It's about time in the market, not market timing, Vanguard's thoughts on lump-sum investing, A huge list of the best books on investing, I'm new to investing, what should I do? How do I get started in the Stock Market? And 5.25% back on gas, 3.50% groceries & 1.75% cash back everything else on their cash credit card. I have a Roth IRA that I opened at the end of 2013 with Merrill Edge (I have BoA so it was convenient). Merrill Edge's fees are in line with most industry participants, having joined in the race to zero fees in Oct. 2019 by extending their free trades for certain rewards levels to all brokerage clients. Cant beat free. The company essentially introduced low-cost stock trading back in the 1970s, which the … The platform charges no management … Completing a trade with a live broker at TD Ameritrade, Schwab and E*Trade is a rather steep $25. However, once I had enough in taxable accounts, I simply moved those to ME and moved my IRA back to VG. There you can find, for example, the 2-5/8s of November 2020 trading at a microscopic $46 spread between bid and ask on a $100,000 stake. As of Dec. 31, 2019, Schwab had 12.3 million active … and join one of thousands of communities. Self Directed Fidelity vs Merrill Lynch About a year and a half ago I switched jobs, and I didn't roll over my Fidelity 401k. Keep discussions civil, informative and polite. They seem to have equal fees, and I won't be doing a ton of moves. Fidelity does not guarantee accuracy of results or suitability of information provided. Option contracts at both of the brokerages are the same at $0.65 each. PSA reminder $CRSR Q420 earnings call is out tomorrow. Strictly no self-promotional threads. Cookies help us deliver our Services. belong as comments to existing posts. Here’s a reply from Merrill Edge customer service. Merrill Edge vs Fidelity. Read our comparison chart below. How does it compare to Fidelity? Fidelity is also the preferred platform to use if you're a fund investor. Use the search function or check out. While my Fidelity account had an amazing year, I'm looking to move my 100 shares of FOCKX into self brokerage. 2. When I liquidated securities (both because I wanted to and because Fidelity made it impossible to transfer them) to transfer cash from my Fidelity 401K to my Merrill Edge Roth IRA, Fidelity was a major pain and tacked on fees and delays and excessive paperwork. Original Sourcing: articles posted must be from the orignal source on a best efforts basis This means if CNBC is reporting on something WSJ reported on we expect you to post the original article. If it’s anything like their initial reports we’re likely about to see some big action. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. Trading stocks and ETF's at all five brokers costs $0. Fidelity: Get 500 free trades with $100,000+ deposit. I haven't done anything with it since. Off topic comments, attacks or insults will not be tolerated. Fidelity’s online Treasury bond quote board is first-class. Both Fidelity and Vanguard have loyal followings. This is a really last minute question since the deadline is April 15th but I honestly just stumbled upon this subreddit (new to reddit in general) and thought I would throw this out there. If there's a big difference, or one company has a better selection of the types of funds you want then roll it on over. There’s not much to debate here: Fidelity wins handily, by charging a close-to-rock-bottom $4.95 compared with TD Ameritrade’s $6.95. Fidelity vs. TD Ameritrade All pricing data was obtained from a published web site as of 01/19/2021 and is believed to be accurate, but is not guaranteed. Tired of hearing about all these meme stocks? Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Overall, Fidelity Investments rates 9 out of 10, while Merrill Edge ranks 8 out of 10. This is a really last minute question since the deadline is April 15th but I honestly just stumbled upon this subreddit (new to reddit in general) and thought I would throw this out there. I'm now looking for a full-time job and working part-time. I didn’t find things terrible at ML, but that firm always seemed a little full of themselves to me. After testing 11 of the best online brokers over three months, Fidelity (99.36%) is better than Merrill Edge (91.72%). Cost: $6.95/trade on stocks and ETFs; Up to 100 free trades per month with Preferred Rewards; Minimum Deposit: None; Merrill Edge is a good choice for current Bank of America customers, because of the seamless transitions between accounts and easy use of a … In my opinion Fidelity has a lot more choices when it comes to low cost investing. Reddit, r/investing and its moderators assume no responsibility for the accuracy, completeness or objectivity of the information presented on r/investing. I'm not sure what the fees are to do that. Merrill Edge offers high-quality research and unlimited free stock and ETF trades. With this information you … Fidelity vs Ally Invest: Verdict Ally Invest won the most important Pricing category and offers better account opening promotion. M1 Finance will be easier to navigate than Merrill Edge for novice investors,. I didn’t pursue further because I’m not planning to buy mutual funds at Merrill Edge. Should be free to do. So all in all I’m pretty happy with their services. I read here that Vanguard and Fidelity have low fees. If anyone is writing an article based on a Bank/investment group news release/white paper post the actual paper and not journalism surrounding it. Their web interface is also a lot nicer. For example, cash liquidations, good faith violations, and free riding. [–]trinigooner 1 point2 points3 points 3 years ago (0 children). Here are the results! Fidelity all the way. Investors who trade frequently or prioritize costs above all else will likely want to look no further than this line item.If they do dig further into fees, however, they’ll find that in addition to lower trade commissions, Fidelity also beats TD Ameritrade for options trade costs, acc… When I transferred my Roth IRA from VG to Merrill Edge to satisfy the $100k platinum honors status, it all was transferred in-kind with no subsequent liquidation. Or should I just put the money into the Merrill Edge account and possibly have them change it to different holdings? Can anyone share their experiences with either Fidelity's or Merrill Lynch's services? Edge: Fidelity. Large institutions, like endowments or pension funds, should go with Merrill Lynch . Merrill Edge is an affordable online broker with robust research options for small to mid-size investors. Fidelity: Get 500 free trades with $100,000+ deposit. © 2021 reddit inc. All rights reserved. After testing 11 of the best online brokers over three months, Fidelity (99.36%) is better than Robinhood (62.62%). Had my Roth there and also a managed account. Out of the two, Fidelity Investments is cheaper per trade at $0.00 than Merrill Edge at $2.95/trade. The company has advisors with a lot of experience helping these types of clients with a wide range of financial issues. Brokerage fees associated with, but not limited to, margin transactions, special stock registration/gifting, account transfer and processing and termination apply. Merrill edge is good once you have a lot of $$$$ but if it's just to start off with low cost funds then no yo are better off with Vanguard/Fidelity. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. π Rendered by PID 18211 on r2-app-06feddfdc676a5a61 at 2021-02-08 23:56:58.321455+00:00 running 43a5de6 country code: FR. We are not a politics or general "corporate" news forum. Retirement. No complaints And if your post should have been a google search then it will likely be removed. Options at E*Trade, TD Ameritrade, Schwab and Fidelity an $0.65 and at Ally $0.50 per contract. Currently, Fidelity only lets you buy fractional shares of stock using their mobile app. You can call up any of those three if it makes you feel better to talk to a person, they can talk you through the process. 3. I added topic flair to your post, but you may update the topic if needed (click here for help). Hyundai now says it’s not in talks with Apple to develop autonomous electric car. If you don’t need account types like Solo 401(k), SIMPLE IRA, and 529, and if you want access to fractional shares, cheap margin, free automatic rebalancing, M1 Finance is the better choice, especially for novice investors. Press question mark to learn the rest of the keyboard shortcuts. Moved all but one of my ML accounts over. The competition among online brokers has become a game of inches among top-tier players like Ally Invest, Fidelity Investments and Charles Schwab, which charge industry-low rates for … Merrill Edge. Mostly because of their platinum honors rewards - if you have combined 100k in bofa and ML accounts, you get nice cash back on bofa credit card (5.25% on gas, 3.5% groceries, etc), 100 free trades/mo, https://www.bankofamerica.com/sparta/preferred-rewards/details/, [–]genesis555 1 point2 points3 points 3 years ago (0 children), Also, does someone know how easy it is to have 2 brokerages for tax purposes? Well, it's already a roth so there shouldn't be any fees to roll it over to a different institution. We generally expect that people who come here are not using the forum to build a brand, generate clicks, or shill. This has been asked and answered many times in the past. Foreign investments involve greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations, all of which may be magnified in emerging markets. Fidelity has better trading and research tools. Especially prior to the BAC takeover. I’ve had an ML account for two decades. Do not post your app, tool, blog, referral code, event, etc. If you transfer the money into your Merrill Edge account today, and specify that it is for the 2014 tax year, you can do whatever you want to do later at your convenience. 5 Follow the guidelines listed in this thread and this thread with regard to political topics or general corporate news. “Customers are now able to select specific tax lots for online trades in Cash Management Accounts. If you're planning on actively trading, there are a number of rules that govern brokerage accounts. 6. So this feature isn't a clear difference between the stock brokers. Please contact the moderators of this subreddit if you have any questions or concerns. Fidelity vs. TD Ameritrade All pricing data was obtained from a published web site as of 01/19/2021 and is believed to be accurate, but is not guaranteed. Charles Schwab and Fidelity are two of the world's largest investment companies. "now is the time to buy", "here's my thoughts", etc. Don't know about Merrill Lynch but at Fidelity you can do limited margin trading within an IRA. Both brokerages offer a mobile app for Android and Apple devices. This rule will be more strictly enforced based on how clickbaity a given article is. Webull vs Fidelity Judgement With its $0-commissions across the board, lower margin rates, desktop platform and great mobile app, Webull is a top broker for frequent equity traders. By using our Services or clicking I agree, you agree to our use of cookies. About a year and a half ago I switched jobs, and I didn't roll over my Fidelity 401k. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. Any other issues? Hi r/personalfinance! If your question likely has a "right answer", is a beginner topic, you simply need help finding general intro to investing information, or if it's asking for general input on what to do with your investments then post in the "Daily Advice Thread". Edge: Fidelity. use the following search parameters to narrow your results: 1. And later on when it's convenient, open a Roth IRA account at Schwab/Fidelity/Vanguard, transfer the balance directly to the new Roth IRA, and close the Merrill account. Making your own post devoid of in depth examination will likely result in it being removed. Rendered by PID 18211 on r2-app-06feddfdc676a5a61 at 2021-02-08 23:56:58.321455+00:00 running 43a5de6 country code: FR. I think you only need like $50k in your account to get a decent amount of free trades so it isn't anything too crazy. He actually said that I’d be fine on my own based on what he saw in my portfolio and left things open if I changed my mind later. Do you need to keep track of wash sales yourself? The lone exception is with options, where E*TRADE has a slight edge. Overall Fidelity provides pretty good services. Or should I just put the money into the Merrill Edge account and possibly have them change it to different holdings? Cost: $6.95/trade on stocks and ETFs; Up to 100 free trades per month with Preferred Rewards; Minimum Deposit: None; Merrill Edge is a good choice for current Bank of America customers, because of the seamless transitions between accounts and easy use of a single login. Mobile App. These apps are fully-functional and make it easy to buy or sell positions. Merrill Edge. I want to keep Fidelity and keep using it, and mostly hold 100k of s&p etf in ML account, or something similar, to get platinum honors status, [–]BlueSkyToday 1 point2 points3 points 3 years ago (0 children). Roth IRA with Merrill Edge vs. Vanguard/Fidelity/other. Do some reading on investing and decide what kind of funds you want to put your money in, then compare the fees those funds charge with Merrill to the fees of a comparable fund with Vanguard or Fidelity. I currently am putting money into my company's Merrill Lynch 401k, but I'm looking for advice heading into 2018. If you have a Bank of America checking account, or willing to get one, and enroll into preferrd rewards. Right now, it's at $899 or thereabouts. You are responsible for your own investment decisions. Merrill Edge vs Merrill Lynch: Recommendation Merrill Edge obviously would be a better choice for investors who don’t need much guidance. )Any of you have any experiences with Merrill Edge and/or eTrade and can comment on your experience or which of the two is better? Effort: Posts must meet standards of effort: Do not post just an article, highlight the parts of the article you find relevant or offer some commentary surrounding the article. Plus, Merrill clients have access to customer support at about 4,300 Bank of America locations. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. Fidelity Go, the robo-advisor from online broker Fidelity Investments, brings a different pricing model to the market. Get an ad-free experience with special benefits, and directly support Reddit. I handpicked the most popular posts, tickers, and DD from the last week. I put in $1000 and the financial advisor who helped me open the account put it all in Blackrock Global holdings, I believe. How does it compare to Fidelity? I did some reading and determined Roth would be better for my current situation, but I didn't know anything beyond that, especially in terms of where I should open my IRA. We generally expect that your topic incites responses relating to investing. [–]hunter360 1 point2 points3 points 3 years ago (0 children). Please note this is a zero tolerance rule and first offenses result in bans. For more advanced trading, I use Interactive Brokers. Is Fidelity better than Robinhood? Merrill's self directed account is great. I've gone through some of the FAQ's and the pages on IRA's here quickly and I'll be reading everything through in more detail soon, but until then I really appreciate all the help and advice! Most likely 1-3 companies and holding for a long time. Join our community, read the PF Wiki, and get on top of your finances! Posts that are strictly self-interested or intended to "build awareness" are not acceptable. This would include most "ask reddit" style questions. Please consult with a registered investment advisor before making any investment decision. Press J to jump to the feed. There is no minimum deposit. Merrill waives its commissions for all online stock, ETF and option trades placed in a Merrill Edge ® Self-Directed brokerage account. Ally Invest is a good low-price discount stock broker for savvy investors. I'm trying to set up a brokerage account and am debating between Merrill Edge and eTrade. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. Fidelity is higher at $32.95, and Ally charges only $20. Likewise if you're asking about a given feature at a broker then direct those questions to the broker not Reddit. Positives and Negatives. Ally Invest (formerly TradeKing) offers stock trades at $0 per trade and options trading at $0 + $0.50 per contract. 7. Read our comparison chart below. Good user interface, Website is too good in fidelity while Merrill is always hanging during peak hours. [–]genesis555 2 points3 points4 points 3 years ago (1 child), I've had Fidelity for 8 years, and it's really good. 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Points3 points 3 years ago ( 0 children ) services or clicking I agree you... Tools are helpful and simple to understand limited to, margin transactions, special registration/gifting. 100 free trades with $ 100,000+ deposit to only use Fidelity for my 401k but now I’ve consolidated read that! Interactive brokers do that from the last week $ 4.95 compared with TD Ameritrade’s $ 6.95 pertain. Guidelines listed in this thread and this thread with regard to political topics or general news! Code, event, etc for a standard order size of 500 shares of FOCKX into brokerage... Guidelines listed in this thread with regard to political topics or general corporate.. Forum to build a brand, generate clicks, or willing to get one, and this action was automatically. Have them change it to different holdings the moderators of this subreddit if you 're asking about year... Corporate '' news forum examination merrill edge vs fidelity reddit likely result in it being removed call is out tomorrow $,... Planning on actively trading, I forget what I did n't roll over my Fidelity 401k to! Forget what I did n't roll over my Fidelity account had an amazing year, I simply moved those me! Not make posts looking for advice heading into 2018 that Vanguard and Fidelity are two the... Examination will likely result in bans to select specific tax lots for online trades in Management! Of cookies is the best overall platform for merrill edge vs fidelity reddit investors, while Merrill is always hanging during peak.... Handily, by charging a close-to-rock-bottom $ 4.95 compared with TD Ameritrade’s $ 6.95 to... Complaints I 've just opened ML account, or shill am putting money into the Edge. Are the same for both brokers, $ 0 robust research options for small to mid-size investors credit,,! I used to only use Fidelity for my 401k but now I’ve consolidated things at. Option contracts at both of the world 's largest investment companies some simple thoughts to see some big action not... Guarantee accuracy of results or suitability of information provided category and offers better account opening.!