Merrill App
Overall a decent but quirky app, however, it has irritants like switching accounts during the on line order process. If you are working an account, you should be able to trade in that account without changing the account number due to the systems default. Lots of unnecessary steps including entering and re-entering symbols. Certainly not state of the art.
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BAC and ML not seamless
I hate that I have to use two different apps to conduct some of my banking business like paying credit card bills. I have worked with customer support and it is not user error.
I also dislike that you have removed the ML Bull when I open my phone app. I don’t want to see sailboats and trees, I want the comfort of seeing that ML logo (Bull) is still watching over family accounts and Trusts!
I also dislike that you have removed the ML Bull when I open my phone app. I don’t want to see sailboats and trees, I want the comfort of seeing that ML logo (Bull) is still watching over family accounts and Trusts!
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Not user friendly
The app is not user friendly. Takes too much time to submit a trade or when i transfer money or when I want to see the balance of my account to give some examples.
Several times I had to re do what I was doing. I lost time in some cases money ( could not do the trade on time).
Several times I had to re do what I was doing. I lost time in some cases money ( could not do the trade on time).
You’re better off using the desktop website, even on mobile
The mobile app is lacking the following, which the website offers:
- BofA/ML research reports
- Can’t view Morningstar/CFRA reports
- Can’t see tax lot info for your holdings
- Securities transers between accounts
- Dividend re-investment enrollment
- No access to technical analysis
- Stock/Options/ETF screeners
- Options strategy builder
My biggest complaints about ML overall is applicable to both the app and website:
- Can’t seem to change chart default (i.e., candlesticks instead of mountain, and default indicators/overlays)
- No options strategy builder on iOS app. For this reason, I still have all my YOLO money in Robinhood.
Overall the app takes patience to use, but it’s decent for value investing. You will need another solution for technical analysis. I recommend a different brokerage for active trading. Robinhood is a lot more agile for trading than ML, and it’s sufficient if you use a different solution for technical analysis.
ML as a brokerage excels in their research offering. I encourage users to open up a laptop/desktop computer or iPad and click around the website interface. It would be nice if they offered a ‘dumbed down’ margin account where margin may only be used for options spreads, where cash is required as collateral to cover the max loss (like Robinhood).
- BofA/ML research reports
- Can’t view Morningstar/CFRA reports
- Can’t see tax lot info for your holdings
- Securities transers between accounts
- Dividend re-investment enrollment
- No access to technical analysis
- Stock/Options/ETF screeners
- Options strategy builder
My biggest complaints about ML overall is applicable to both the app and website:
- Can’t seem to change chart default (i.e., candlesticks instead of mountain, and default indicators/overlays)
- No options strategy builder on iOS app. For this reason, I still have all my YOLO money in Robinhood.
Overall the app takes patience to use, but it’s decent for value investing. You will need another solution for technical analysis. I recommend a different brokerage for active trading. Robinhood is a lot more agile for trading than ML, and it’s sufficient if you use a different solution for technical analysis.
ML as a brokerage excels in their research offering. I encourage users to open up a laptop/desktop computer or iPad and click around the website interface. It would be nice if they offered a ‘dumbed down’ margin account where margin may only be used for options spreads, where cash is required as collateral to cover the max loss (like Robinhood).
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For the better
Let me start by saying I love the the application but, we are in the year 2020 and I just expect more from them. With that being said I would not go anywhere else to do my banking or trading and for the information that is asked for, it is provided in-depth. But that’s the problem, I expect them to se how I am investing and send out suggestions, just on this I might like with a little added history and reading. I do that knows in Google search and the news paper, the the news papers are going away, and I would like another money source from news. I would say again, after I find the stock that i an watching, they normally send me information on how it’s doing and things to read up on.
Over all, love the Application!
Over all, love the Application!
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Bill pay issue
You still get one star until you can fix the “Deliver By “ issue. When I enter a bill to be paid and try to use the pre-filled “deliver by” date, I get a message that I have to correct something. That “something” is always the deliver by date and I am forced to manually edit to an alternate date, usually the next business day following the prefilled date.
Why can you not simply prefill a date that actually will work for a specific vendor? For example, paying a B of A credit card could be as simple as same business day or next business day. Another national payee could be next or 2 business days out. My local water company that you May have to actually send a paper check might be a week or so out.
This may seem like a minor issue to you, but it is very distracting and annoying to have to continually make these changes.
Why can you not simply prefill a date that actually will work for a specific vendor? For example, paying a B of A credit card could be as simple as same business day or next business day. Another national payee could be next or 2 business days out. My local water company that you May have to actually send a paper check might be a week or so out.
This may seem like a minor issue to you, but it is very distracting and annoying to have to continually make these changes.
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Not quite right
This app usually stops giving info on holdings after I have used it fot ten minutes or so. Why? I used to use it for research on quotes but that is more difficult now also. The harder it gets to use, the less helpful it is. I do not like seeing Information No Available. Try again later. I have found that if I sign out and then sign in again suddenly the information is available. Not exactly what I want to do. I should be able to use the app as long as I want to.
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Inefficient/awkward workflows, unreliable
I really hope the app gets improved to be at least on par with their competitors in terms of the reliability, the UI workflow and the response time.
- When I tap on a symbol on the holdings screen for a specific account then the trade button on a symbol inflation screen, I have to select the account and the symbol again. Sometimes I forget to change the trading account from the default one and have to cancel and reenter the order. This is not only a waste of time but can lead to missed sell/buy opportunities.
- Some symbols, such as BRKB cannot be traded with this app because it keeps throwing the invalid symbol error even though I selected the symbol from the suggested list in my holdings.
- After placing an order, I have to tap on the left arrow icon several times to go back to the same holdings screen, and even a lit more to backtrack all of them if I choose to see the order status and modify some existing orders.
- It sometimes get stuck at the bull logo screen at launching, and once it happens, it keeps happening until I delete and reinstall the app.
- Overall the app responds much slower than some others I have used, e.g.: Fidelity, E*Trade.
- When I tap on a symbol on the holdings screen for a specific account then the trade button on a symbol inflation screen, I have to select the account and the symbol again. Sometimes I forget to change the trading account from the default one and have to cancel and reenter the order. This is not only a waste of time but can lead to missed sell/buy opportunities.
- Some symbols, such as BRKB cannot be traded with this app because it keeps throwing the invalid symbol error even though I selected the symbol from the suggested list in my holdings.
- After placing an order, I have to tap on the left arrow icon several times to go back to the same holdings screen, and even a lit more to backtrack all of them if I choose to see the order status and modify some existing orders.
- It sometimes get stuck at the bull logo screen at launching, and once it happens, it keeps happening until I delete and reinstall the app.
- Overall the app responds much slower than some others I have used, e.g.: Fidelity, E*Trade.
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Bad App
The Merrill Lynch App you replace with this one, I could use. It was limited and could use fixing. But this replacement app is worse and so bad I’ve quite using it. I’ve gone back to hauling my lap top with me on over night trips. All of my problems with the app are with the Pay Bills. Please fix it. I would not of been on this app to give this review had there not been 2 notifications I was trying to clear out of my screen. ( And they were faults notifications)
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I Like The Old Version Better
This version appears to do the same things as the old one but there is no quick link to get to the Bill Pay section. I don’t know why things must be moved around when newer apps come out. Customers get used to where everything is and it’s frustrating to have to figure things out all over again. Making something different doesn’t always make it better.
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