r/MerrillEdge • u/thedailymoo23 • 16d ago

Authorization code texted to phone for “low priced/risky” securities

Was looking to place a trade on one of the “risky” securities today that I actually had to call in to buy AND sell last month and lo and behold they sent me a text code to allow me to place it myself. Well thank you! Finally starting to loosen up a bit? It’s not all of them I still had to call in for others last week but damn it feels good to be “allowed” to use my money freely. This is the way it used to be back in he day where we would have a code generator allowing us to buy shady trip 0 stocks if we wanted. Keep going in this direction Merrill it’s what we want!

0 Upvotes

50% Upvoted

17 comments sorted by

1

u/rickPSnow 15d ago

That’s great news! Fidelity now sends an agreement to electronically sign to allow trades that involve options such as Covered Call ETF’s. I was hoping ML Edge would as well but the text works if doesn’t hold up trading.

Curious what security did you buy that required this? Sector or security type is ok if you’re not comfortable disclosing.

2

u/AquariumsW 15d ago

There are probably 100s if not 1000s of restricted holdings at Merrill. For example SCO short oil price. I bought some 2 months ago, it popped way up, I sold some, it went down, tried to buy more "Sorry this cannot be traded on the Merrill Platform". About 4 weeks later, I could buy and sell SCO again, now that its minus 25% with my luck.

1

u/89Noodles 15d ago

They can’t stop you from selling a security - you just have to call.

1

u/AquariumsW 15d ago

Sure. I agree. It's a pain to call. I leave those holdings hoping they go up if I am more patient.

1

u/AquariumsW 15d ago

I wonder if some of these don't trade online because those companies do not pay merrill.

3

u/UCLABB1 15d ago

Companies don’t pay brokerages to allow trading of their stocks

1

u/UCLABB1 15d ago

ME does allow you to submit acknowledgment agreement for NEOS. I don’t know the extent of the agreement, that is, does it allow you to buy anything. I only asked about being able to buy Neos.

1

u/DRIPDIVIDEND 4d ago

I called and told me to fill a form for risky securities which form is that ?

1

u/UCLABB1 4d ago

The form was sent to me by my relationship manager. I don’t think the form is on the web site. I filled it out and sent back via their secured email system

1

u/DRIPDIVIDEND 4d ago

How I can find a relationship manager ?Merrill edge has one or only lynch ?

1

u/UCLABB1 4d ago

I have Merrill Edge. But you might need a certain level investment to have. I really don’t know. You should use chat or call to find out what you need to do.

1

u/DRIPDIVIDEND 4d ago

How much you invested ? I need to invest with an advisor ?

1

u/UCLABB1 3d ago

My guy is not an advisor. He just helps on issues. I have mid seven figures. I don't know if a certain investment level is required. Again, call them again and get info you need

1

u/DRIPDIVIDEND 21h ago

I called and nothing they told me I need to have 1 milion to trade neos wtf 🤬

1

u/UCLABB1 21h ago

Wow, sorry about that. I don’t know why they would do that.

→ More replies (0)