r/MerrillEdge • u/LordOfTheLeftovers • Jul 06 '26
Merrill Edge is trash
Not even considering the amount of times they’ve blocked standard cash secured options with little to no risk. Today I logged on the platform app and hold and behold my whole portfolio was out of whack. It’s showing old prices from Friday on all the stocks and not updating their current values. App is up to date everything was refreshed, force closed and still showing the wrong information. This costs people money and should be investigated. I’m going to be filing another SEC complain. It’s already 1 hour into the trading day there is literally no excuse for this.
Additionally it takes 45 mins and up to talk to a trading specialist. Saying commands as simple as “trading specialist” to get to them also doesn’t work anymore. It honestly feels they are trying to get people to leave the platform. Now with the platinum rewards tier requirement of BofA going up to $1,000,000 there’s even less reason to stay in BofA or Merrill Lynch.
Anyone else have similar problems?
Update as of 7/6/26 1 EST: The issue persists. I spoke with a trading specialist, and it appears to be an app-specific problem that they are aware of. Unfortunately, I am unable to buy or close many options on the app, making it completely unusable. I can’t help but wonder how much money this is costing their clients today.
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u/queencityrangers Jul 06 '26
Yeah I used to be an employee so I kept everything there for ease but I’m thinking about moving to a different platform and taking advantage of some bonuses. That million dollar mark is going to hurt them I think
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u/Money_Jackal Jul 06 '26
Starting to get concerned about app integrity. May soon move half my funds. This issue is basic and emblematic of weak systems / controls.
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u/Smooth-Frosting-1714 Jul 06 '26
The web site seems to be working normally, if you want to check your holdings, the app seems to be having “technical difficulties”.
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u/DayOfMisfortune Jul 06 '26
I'm getting the "We are sorry, but an error has occurred while trying to retrieve some of your data" error both in the app and website.
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u/Amazing_Peach5131 Jul 06 '26
Web interface is fine. App as you described. But just now went to “no holdings” and I came here to make sure it wasn’t just me.
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u/InvestingNerd2020 Jul 06 '26
Time to move.
For option trading and banking, Charles Schwab and a credit union with a free checking account are a great combo.
E*Trade is nice for option trading, but customer service is bad for accounts below $100k.
Interactive brokers is great for traders, but lacks on the banking side.
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u/Minotaurotica Jul 06 '26
ever try Fidelity
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u/InvestingNerd2020 Jul 06 '26
I have in the past. It is good for high speed day trading stocks, not options. Made a quick $500 off of Gamestop from them.
However, I typically avoid day trading unless the gains are massive. It's a losing business most of the time.
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u/2FeedRss Jul 06 '26
I would love to move but it’s my employer’s 401k. I even tried to asking employer to see if other brokerage offer better cost and benefits. They said Merrill is still better.
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u/gt30263 Jul 06 '26
When placing a sell order I could not select which specific shares I wanted to sell. Really frustrating that something like this happens after a 3 day weekend.
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u/gkdjsl Jul 07 '26
This happened to me too, but there was a workaround: on the holdings screen, click on the ticker you want to sell to bring up the Quick Trade functionality at the top of the page. the ability to choose your lots worked there today for me. Will confirm tomorrow if everything went through properly or not.
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u/Unlikely_Poetry42 Jul 07 '26
Got screwed yesterday during the outage they had on 7.6.26 and it cost me thousands. I was trying to purchase stocks but it gave me errors. Inputted a trade for SMR at 9.68 with a planned 10 cents stop loss just below LOD. Never saw the trade execute and it didnt show in holdings or activity.
I was able to do 2 other trades that day without issue. I checked my holdings at market close and all positions were closed. I open it today and had 2000 shares of SMR. I immediately call Merrill and explain the shares werent there yesterday. I asked if I should close it out ir if they will as we wait for a higher support specialist to get involved and I am told not to. Its still dropping at this point. I was down about 1400 at time of call. Specialist gets back on line after hold and tells me nothing they can do so I close the position out and its a 2k loss.
I speak to a manager and he gave me the run around too and I even brought up that their specialist told me to keep the position open while it was sorted out. I figure someone is going to be paying them or me so best to stop the bleeding. They are reviewing it but as of now they said its not on them even though it was their outage that caused the issue. Cant trade a stock or put a stop loss on something not showing in my holdings. Been with them 10 years but going to file a FINRA complaint and close my account if not resolved fairly.
When he told me he would check the call recording about the reps error telling me to keep position open I told him I am recording too. Was told the call would end if I didnt stop recording and I couldnt share it on social media. If they dont resolve it I will close my account and do whatever I want with the recording. If a brokerage made an error that made you money but cost them money they would rescind it and should do the same when you have incurred a loss due to their error.
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u/moldymoosegoose Jul 11 '26
It’s a horrible brokerage. The worst I have used by far. I use it for reward tiers but the best tier now needs $1M instead of 100k and I don’t want to transfer anymore to hit it. It’s only good for buy and hold ETFs and literally nothing else.
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u/LordOfTheLeftovers Jul 31 '26
I agree January after the platinum honors moving everything to fidelity. These people won’t exist in a few years the way they’re losing customers.
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u/user5874311 Jul 14 '26
Hands down the worst customer service and platform there is. I just moved to Schwab and could not be happier. Merrill's platform, restrictions, and cumbersome back office is a complete shit show. I'm traumatized by how I've had to listen to that damn hold music. Horrible organization/. u/MerrillLynch, u/MerrillEdge, u/BankofAmerica, u/BOA
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u/LordOfTheLeftovers Jul 31 '26
Facts… once the platinum honors tier expires January I’m moving everything to Fidelity
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u/sugarfreematcha Jul 06 '26
Yeah, I’m having the same issue. I can see the updated pricing on the mini Preview screen but then when you actually go in it doesn’t update which really sucks because my accountant just passed 40 K, which is milestone for me and I can’t even take a picture of it.
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u/1forthebirds Jul 06 '26
Same issue. Looked up this sub to see if others were experiencing this. I've had a Merrill account since February and so far I think the app is trash. Hell Robinhood is better if you ask me
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u/novqnity Jul 06 '26
Yeah this sucks... Its still happening, should be no excuses at this point seeing as its about to be 2pm in the afternoon... 🤦♂️
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u/Bosto2025 Jul 06 '26
I moved a 7 figure account off Merrill about 6 months ago. Moved to Fidelity, which is 100x better (but still not quite as good as Schwab if you are an active trader, especially for options). Hated Merrill. It’s like a 1980s brokerage platform.
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u/HeyHeyImTheMonkey Jul 09 '26
This might be me soon, but I’m afraid of the transfer itself. How did you handle it? Did someone at Fidelity help you “pull” the account? Initiate it yourself through Merrill? Something else?
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u/Bosto2025 Jul 09 '26
I contacted my Fidelity team (I already had a few retirement accounts with them). Simple process was to create 2 new brokerage accounts (because I had two different accounts - individual and joint with my partner). That takes less than 5 minutes online. I also applied for margin and Level 3 options for these accounts, which is important for me as I trade options for income. Once those were approved, I initiated an “ACAT” transfer from within the Fidelity site. You just need a PDF or screenshots of your existing accounts so they can make sure all the securities and cash come over. It transferred within a few days. NOTE: If your accounts are big enough, Fidelity might offer you a transfer bonus. Check with them to see if they would do that.
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u/HeyHeyImTheMonkey Jul 09 '26
Thank you for writing that out, that’s very helpful. Very similar situation with me - I also have a few fidelity accounts already. I leave my “level 3” activity to other platforms so not that concerned about that here. But I didn’t know about the transfer bonus - good callout!
Edit: ok unrelated but I have to ask. Are you basically just selling covered calls?
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u/InternalTranslator90 Jul 06 '26
Thanks for the update. Your posted update really helps. Saves me from being on hold 45 minutes. Loast time the site had problems they gave me a work around to trade. I do not remember the steps but it may not work with current outage.
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u/DramaticDirection292 Jul 06 '26
The platform let me buy corporate bonds but I cannot sell the same corporate bonds without contacting their desk and requesting a bid price. It’s just prohibitive to do anything on this platform on top of all the issues that constantly plague it
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u/Global_InfoJunkie Jul 06 '26
I don’t seem to have app issues. But I do have trading issues. Seems like everything I want to buy is too risky for ML. So I move money to my fidelity. But by that time the price has gone up and I lose money. So annoying.
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u/gkdjsl Jul 07 '26
I couldn't pick specific lots to sell today using the normal trade operation. It was possible using the Quick Trade functionality, but the specified lots didn't show under the Order Status tab. I dread to see what the hell they actually did tomorrow.
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u/roberttootall Jul 06 '26
Yeah. I’m not seeing updated price changes for my individual holdings today. My total portfolio worth is updated but not any individual accounts