Merrill Edge requires $0 to open a standard brokerage account or IRA. There is no minimum deposit and no ongoing balance requirement for standard accounts. The key minimums to know: $1,000 for Guided Investing (robo-advisor) and $49.95 to transfer your account out to another broker.
Merrill Edge Account Minimums at a Glance
| Account Type | Minimum to Open | Ongoing Minimum |
|---|---|---|
| Standard brokerage | $0 | $0 |
| Traditional IRA | $0 | $0 |
| Roth IRA | $0 | $0 |
| Margin account | $2,000 | $2,000 equity |
| Merrill Guided Investing | $1,000 | $1,000 |
| Merrill Guided Investing with Advisor | $20,000 | $20,000 |
The Fractional Shares Gap
Unlike Fidelity and Schwab, Merrill Edge does not offer fractional shares. To purchase any stock or ETF, you need the full price of at least one share.
This matters most for:
- High-priced ETFs: VOO (S&P 500 ETF) at ~$550/share — you need $550 minimum
- Individual stocks: High-priced stocks require the full share price
- IRA investors: A $7,000 contribution cannot be fully deployed if share prices leave an awkward remainder
Practical workaround: Use lower-priced ETFs or mutual funds that allow smaller increments. iShares CUSA and similar ETFs often trade under $50/share.
Guided Investing: The $1,000 Robo-Advisor Minimum
Merrill Guided Investing is the managed, hands-off investing option:
| Option | Minimum | Annual Fee |
|---|---|---|
| Guided Investing (self-directed) | $1,000 | 0.45% |
| Guided Investing with Advisor | $20,000 | 0.85% |
The 0.45% annual fee is higher than most competitors (Schwab: $0, Fidelity Go: 0.35%). The justification for BofA customers is that Guided Investing balances count toward Preferred Rewards, which can generate rewards that offset the cost.
See the Merrill Guided Investing review.
Preferred Rewards: The Real “Minimum” That Matters for BofA Customers
For Bank of America customers, the meaningful threshold is the Preferred Rewards minimum:
| Tier | Combined Balance Required | BofA Card Bonus |
|---|---|---|
| Gold | $20,000 | +25% cash rewards |
| Platinum | $50,000 | +50% cash rewards |
| Platinum Honors | $100,000 | +75% cash rewards |
Your Merrill brokerage and IRA balances count toward these totals. A $15,000 IRA + $10,000 BofA checking = $25,000 combined → Gold tier.
The Preferred Rewards benefits can add hundreds of dollars annually in credit card bonus cash back — effectively creating a return on your “minimum” balance that no other broker matches.
No Fractional Shares vs. Preferred Rewards: The Trade-Off
Merrill Edge’s lack of fractional shares is a real limitation compared to Fidelity. But for BofA customers with $20,000+, the Preferred Rewards program creates a banking benefit no other broker can match.
If you primarily invest in ETFs and the occasional non-fractional purchase is acceptable, the Preferred Rewards benefit may outweigh the fractional share gap.
How Merrill Edge Compares on Minimums
| Broker | Account Minimum | Robo-Advisor Min | Fractional Shares |
|---|---|---|---|
| Merrill Edge | $0 | $1,000 (Guided Investing) | No |
| Fidelity | $0 | $0 (Fidelity Go) | Yes (all US stocks/ETFs) |
| Schwab | $0 | $5,000 (Intelligent Portfolios) | Yes (S&P 500 via Stock Slices) |
| Vanguard | $0 | N/A | No |
| E*TRADE | $0 | $500 (Core Portfolios) | Yes (S&P 500 stocks) |
Merrill Edge has the lowest robo-advisor minimum ($1,000) except for Fidelity Go ($0). But no fractional shares is a notable limitation for small, regular contributions.
Trading Costs After You Open
- Stocks and ETFs: $0 commission
- Options: $0.65 per contract
- NTF mutual funds: $0 transaction fee
- Non-NTF mutual funds: $19.95 transaction fee
- ACAT transfer out: $49.95 (to transfer to another broker)
For the full fee breakdown, see Merrill Edge fees.
How to Open a Merrill Edge Account With No Minimum
- Go to merrilledge.com and click “Open Account”
- Select account type (brokerage or IRA)
- Enter Social Security number and personal details
- Link a Bank of America account (preferred) or external bank
- Fund with any amount — or open with $0 and fund later
Bottom Line
Merrill Edge’s $0 account minimum removes any barrier to opening. The key limitations: no fractional shares means you need the full share price for any purchase, and the $49.95 ACAT-out fee creates a real cost if you ever switch brokers. For BofA customers near the $20,000 Preferred Rewards threshold, these limitations are typically outweighed by the rewards program.
For the full Merrill Edge overview, see the Merrill Edge Review 2026.
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