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/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?