Merrill Edge is the self-directed investing service of Merrill Lynch, Pierce, Fenner & Smith, a Bank of America subsidiary registered with the SEC and FINRA and a SIPC member. It offers $0 online trades in stocks, ETFs and options through a Cash Management Account or an IRA, with balances linked to Bank of America banking and the BofA Rewards program. It fits Bank of America customers and retirement savers who want research, banking and investing in one place.
Risk warning: Trading carries a high risk of losing money, especially with leveraged products such as CFDs. A bonus does not reduce that risk. Only deposit what you can afford to lose.
Merrill Edge
Enter offer code 600ME when you open a new Merrill Cash Management Account or IRA, add at least $20,000 in net new assets within 45 days, and Merrill pays $100 to $600 in cash after a 90-day hold.
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Merrill Edge is the self-directed side of Merrill, launched in 2010, a year after Bank of America bought Merrill Lynch. Accounts are held at Merrill Lynch, Pierce, Fenner & Smith Incorporated, a broker-dealer registered with the SEC (8-7221) and FINRA (CRD 7691), a SIPC member and a wholly owned subsidiary of Bank of America. SIPC protects up to $500,000 per customer, including $250,000 in cash, if the firm fails; it does not cover investment losses. Bank of America reported $639.5 billion in consumer investment assets in mid-2026, across Merrill Edge Self-Directed and its guided investing service.
Merrill's regulatory record is long, as it is for every large wirehouse. Recent items include a $25 million SEC fine in January 2025 over its cash sweep program in advisory accounts and a $7.5 million SEC fine in June 2026 for missed suspicious activity reports.
Online stock, ETF and option trades are $0, with $0.65 per options contract. There is no account minimum or annual fee for self-directed accounts. Broker-assisted trades cost up to $29.95. Partial transfers out are free, but a full account transfer or IRA closeout costs $49.95, and Merrill does not reimburse your old broker's transfer fee.
The draw for many users is the tie-in with Bank of America. Merrill balances count toward BofA Rewards tiers (Preferred Plus at $30,000, Preferred Honors at $100,000), which can raise credit card rewards and unlock research. That only helps if you also hold a Bank of America checking account.
Enter code 600ME when opening a new individual Cash Management Account (CMA) or a Traditional, Roth or owner-only SEP IRA, then add net new assets within 45 days. The reward depends on that amount: $100 for $20,000 to $49,999, $150 for $50,000 to $99,999, $250 for $100,000 to $199,999 and $600 for $200,000 or more. Even the top tier is a 0.3% return, so this offer only makes sense if you were moving the money anyway.
Net new assets are incoming cash and securities minus anything withdrawn or transferred out over the previous 24 weeks; trading gains and losses are ignored. Merrill sets the tier 90 days after you meet the funding requirement and pays the cash within two weeks after that, so the full cycle can run close to five months. Money from other Merrill accounts, Bank of America Private Bank or Merrill-administered 401(k) plans does not count.
The code cannot be added after opening, and Merrill says enrolling is your responsibility. Cash bonus offers are limited to one CMA and one IRA per person. The reward may be taxable, and Merrill may issue a Form 1099. The offer has no published end date, but Merrill can change or cancel it without notice.
The offer is for US residents opening a new individual account; business, investment club, partnership and some fiduciary accounts are excluded. If the account is later enrolled in an advisory program, such as Merrill Guided Investing, the reward becomes subject to that program's annual fee.
The current code is 600ME. It pays $100 to $600 in cash for $20,000 to $200,000 or more in net new assets added to a new individual Cash Management Account or a Traditional, Roth or owner-only SEP IRA. Enter it when you open the account.
You have 45 days from opening to fund the account. Merrill sets the reward 90 days after you meet the funding requirement and deposits it within two weeks after that, so payout can take close to five months.
No. Merrill says you must enroll during account opening, either in the online application or by giving the code to a Merrill advisor, and that enrolling is your responsibility.
Cash and securities moved in from outside Merrill. Money from other Merrill accounts, Bank of America Private Bank or 401(k) plans administered by Merrill does not count, and withdrawals over the previous 24 weeks are subtracted.
It may be. Merrill says the reward may be taxable income and that it may issue a Form 1099 showing its value.