Missing Features
I chose to open a Merrill Edge account after reading an article that said Merrill offers Zelle functionality with their brokerage accounts. From my research, they seemed to be the only ones offering this feature. Zelle was the most important thing to me, because funding of brokerage accounts from competitors can take up to 5 business days. Pretty useless when you’re trying to execute a trade quickly and need to fund your account first. Well, turns out Merrill is useless too. Zelle is nowhere to be found on the website or mobile app, and the only options for funding are a transfer from a Bank of America account or a check. So there’s no option for instant funding. Merrill also doesn’t have a chat or email feature. The only way to get help is to call, and wait times can be ridiculous (especially with the current market volatility). I’m regretting my decision right now.
Show less
Prepare to be disappointed
App is basically OK. Graphs are poor and not up to date so use Google instead,!why bother... expect the server to go down during any significant market correction, one that was too much for your stop losses. You won’t be able to get through on the phone to complain, but a week later a very pleasant woman may call to apologize. Your lost money is your problem. Also they block you from buying random stocks etfs but allow you to buy some very sketchy ones. So it’s not reall self directed or a free market.
Show less
Almost Perfect - Improvements on Design & More Extended Hours
I like the professional look of the app overall, but I think it would be great if you guys can simplify the design more, such as: instead of having customers to manually select “Normal Hours” & “Extended Hours” by jumping back and forth 2 tabs, creating single page where customers can click on a button to select “Extended Hours” if they want to trade in those hours automatically. I like Webull app because of that automatic extended-hours trades feature. I would love to see that feature on the Merrill Edge app because I don’t like to transfer my main portfolio ($200k+) out from Merrill Edge to Webull, but I will if this costs me my profits, simply because I have to manually set up the extended-hours trades every time.
Show less
If you don’t have a choice
I’ve banked at BofA and am not moving my accounts any time soon so I’m stuck with this platform for BofA. I have trading accounts at several other places like Schwab, Fidelity and other banks. This app is the worst. The UI is awkward, it’s slow, login repeatedly seems to lose my info. Merrill was the last to support Touch ID only getting it running in time for Face ID to replace it. Worst is it costs me money. Their price improvement is non existent. Buying at the market you might as well buy at the ask. You really have to do limit orders on everything which is annoying when you don’t want to helicopter an order. I’m only writing this in hopes it spurs investment to improve the app. If they did I would trade more in the account.
Show less
Just OK
I had an E*TRADE account prior to Merrill Edge. To simplify life, I consolidated everything to Bank of America/Merrill. Had an E*TRADE account for several years and now Merrill Edge for a year. The Merrill Edge app is SLOW. The quote pricing isn’t refreshed often enough. The pending transactions take days to finalize. I honestly don’t think I could sell equities and use the proceeds to buy other equities in the same day based on these delays (the cash available isn’t accurate for days until the transaction finalizes). Overall, I’m not that pleased and think I’ll eventually get frustrated enough to find a different solution.
Show less
Very hard to trade
This app needs some serious UX redesign starting with app performance.
It’s extremely difficult to make a trade. For instance, I select a ticket and click through to trade. I then select the appropriate account to trade on and the stock ticker gets cleared out and I have to go and search or input again. Worst yet, if I mistakenly selected the wrong account and filled in all trade information, when I go select the correct account the app clears out the entire trade and requires me to fill everything in again.
For an organization so big with so much money, take this app seriously. No wonder Robinhood is growing so big. Get with the program soon or else I’m taking my entire portfolio elsewhere.
It’s extremely difficult to make a trade. For instance, I select a ticket and click through to trade. I then select the appropriate account to trade on and the stock ticker gets cleared out and I have to go and search or input again. Worst yet, if I mistakenly selected the wrong account and filled in all trade information, when I go select the correct account the app clears out the entire trade and requires me to fill everything in again.
For an organization so big with so much money, take this app seriously. No wonder Robinhood is growing so big. Get with the program soon or else I’m taking my entire portfolio elsewhere.
Show less
Unrealized profit/ loss screen with iPhone use
I have been using the ML website for 5 plus years on a daily basis. Please put an edit key on the unrealized profit/ loss screen in order to be able to change the column preferences. I use an iPhone specifically and when opening up that p/l screen, the column order will change with the slightest movement of my finger on the screen. I would like the opportunity to have my information columns (cost, price, # of
shares, etc) to remain in the order I like, and the edit would be optional, but lockable as well. 2nd request by the way. Thank you
shares, etc) to remain in the order I like, and the edit would be optional, but lockable as well. 2nd request by the way. Thank you
Show less
Full of bugs
This app is terrible compared to the competitors. It's full of bugs. For example, when I try to sell shares I can't select the order type (market) unless I click on sell all. After I select and deselect that then I'm able to choose order type, but then cant proceed with the order because the preview order is grayed out. I've literally lost thousands of dollars because I couldn't sell when I wanted and had to wait to get on a computer. Also, after every order, the page defaults to my IRA account instead of my investment one, so when if I want to rapid sell a few stocks, I have to make sure I revert back to my investment account. I've sold things on my IRA that I had no intention of because of this poorly designed UI/UX.
Show less
UI not as good as Robinhood, but more convenient
I prefer this app more than Robinhood due to me having Bank of America accounts. Robinhood holds cash from sold stocks for several days before it can be transferred while Merrill can do it instantly. My main issue is the user interface. You have to manually look up stocks and it’s rather difficult to use compared to Robinhood. Hopefully new updates come in the future that make it easier.
Show less
One of the Worst trading apps on my phone!
One of the worst trading platforms apps on my phone. I am forced to use this app because we have Bank of America checking account for the last 25 years and are very happy with Bank of America app, the best in terms of pay bills, credit cards rewards. But the Merrill Edge app is lacking soooo many features that others (TD Ameritrade & E-trades) offers much more. It lacks of (1) current stock news (2) trades stayed in “pending” for days to complete (3) can’t execute using trailing stop in $ and %, no matter what percent I entered, it always errors “much enter from 1-25%” which I’ve already bought entered 2%. Overall, it just not up to par with TD Ameritrade “think it swim” app or E-trade app, those two are my favorite trading platforms apps. I would delete this app if I didn’t care amount meeting minimum amount assets with Bank of America to get bonus 75% cash rewards for my credit card.
Show less
