Merrill Edge Self-Directed — $0 Trades & Powerful Research

$0

Stock & ETF trades

$0

Account minimum

15+

Premium research providers

#1 Rated

Research tools & education

Platform Features

Everything You Need to Invest Confidently

Merrill Edge Self-Directed is built for investors who want professional-grade tools with the simplicity of a well-designed platform — all integrated with your Federal Crown Bank accounts.

$0 Commissions

$0 online trades for stocks and ETFs. No minimums, no hidden fees, no inactivity fees. Options trades are $0.65 per contract with no base commission. Your money goes to work — not to transaction fees.

Full Investment Universe

Trade U.S. and international stocks, ETFs, options (with approval), mutual funds, fixed income securities, CDs, and U.S. Treasuries — all within a single Merrill Edge account.

Federal Crown Bank Integration

Your Merrill Edge account appears alongside your Federal Crown Bank checking, savings, and credit accounts in a single unified dashboard. Instant, free fund transfers between your linked accounts.

Award-Winning Research

Access research reports from Morningstar, CFRA, Federal Crown Bank Research, S&P Global, and 10+ additional providers. Stock ratings, earnings analysis, sector outlooks, and portfolio-level analytics — all free.

Mobile Trading

Trade, monitor positions, set alerts, and review research from the Merrill Edge mobile app or the Federal Crown Bank mobile app. Full trading functionality on iOS and Android with biometric login security.

Preferred Rewards Bonus

Merrill Edge balances count toward your Preferred Rewards tier — unlocking cash rewards bonuses (25%–75% boost), mortgage rate discounts, and savings rate boosters across your Federal Crown Bank relationship.

Pricing

Commission & Fee Schedule

We believe pricing should be transparent. Here is every fee you need to know before you open an account — with no surprises.

Asset Type / Transaction	Online Commission	Broker-Assisted	Notes
Stocks (U.S. listed)	$0	$29.95/trade	All market, limit, stop, and conditional orders
ETFs (Exchange-Traded Funds)	$0	$29.95/trade	All ETFs including leveraged and inverse
Options	$0 base + $0.65/contract	$29.95 + $0.65/contract	Requires options trading approval (Level 1–4)
Mutual Funds (NTF)	$0	$29.95	No-Transaction-Fee funds; early redemption fee may apply within 90 days
Mutual Funds (Transaction Fee)	$19.95/trade	$29.95	Applies to funds outside NTF program
Fixed Income / Bonds	$1/bond ($10 min, $250 max)	$1/bond + $29.95	Corporate, municipal, and agency bonds; Treasuries free at auction
CDs (Brokered)	$0	$29.95	New issue CDs; secondary market CDs: $1/CD
Account Maintenance / Inactivity	$0	—	No monthly or annual fees; no minimum balance fees
Margin Rates	8.50%–11.50% APR	—	Rate varies by margin balance; Preferred Rewards may reduce rate

Regulatory transaction fees (SEC fee, FINRA TAF) apply to sell transactions as required by law — typically fractions of a cent per share. These are not Merrill Edge fees. Pricing subject to change.

Research & Tools

Professional Research. Free for Every Client.

Merrill Edge clients receive access to research and analytics tools that professional investors pay thousands of dollars per year to access — included at no charge.

MarketPro®

Merrill's advanced desktop trading platform. Customizable layouts, real-time Level 2 quotes, advanced charting with 100+ technical indicators, multi-leg options strategy builder, and streaming news from major financial wires.

Morningstar® Research

Full access to Morningstar's independent stock and fund ratings — their proprietary star ratings, fair value estimates, economic moat analysis, stewardship grades, and in-depth company reports on thousands of securities.

CFRA Research

Equity research from CFRA covering over 1,500 U.S. stocks. Includes buy/sell/hold ratings, 12-month price targets, earnings estimates, and corporate governance risk scores based on SEC filing analysis.

FCB Global Research

Proprietary research from Federal Crown Bank's Global Research division — covering equities, fixed income, economics, and strategy. Typically available only to institutional clients; Merrill Edge clients receive select reports.

Stock & Fund Screeners

Filter the entire investable universe by 100+ criteria: P/E ratio, dividend yield, analyst rating, sector, market cap, EPS growth, short interest, ESG score, technical signals, and more. Build, save, and run custom screens.

Portfolio Story™

Merrill's proprietary portfolio analysis tool that visually shows your portfolio's diversification, asset allocation vs. target, estimated income, risk level, and holdings-level breakdown — with actionable improvement suggestions.

What You Can Trade

Investment Types Available at Merrill Edge

Investment Type	Available in Taxable Account	Available in IRA	Commission	Key Feature
Stocks (U.S. & International)	Yes	Yes	$0	Real-time quotes, extended hours trading
ETFs	Yes	Yes	$0	Includes 2,000+ ETFs; iShares and Vanguard available
Options	Yes (with approval)	Limited levels	$0.65/contract	Single and multi-leg strategies; Level 1–4 approval
Mutual Funds	Yes	Yes	$0 (NTF) or $19.95	4,000+ funds; automatic investment available
Fixed Income / Bonds	Yes	Yes	$1/bond	Corporate, municipal, agency; Treasuries free at auction
CDs (Brokered)	Yes	Yes	$0 (new issue)	FDIC insured per institution; competitive yields
Short Selling	Yes (margin req.)	Not available	$0 + margin interest	Requires margin account; locate fee may apply

FCB Integration

One Login. Everything Linked.

Merrill Edge is the only major brokerage natively integrated with a top-5 U.S. bank. That integration creates real advantages that standalone brokers can't match.

Unified Account View

See all your Federal Crown Bank checking, savings, credit cards, mortgages, and Merrill Edge investment accounts in a single dashboard — in Online Banking and the mobile app — with real-time balances.

Instant Free Transfers

Transfer funds instantly between your Federal Crown Bank bank accounts and Merrill Edge brokerage accounts — at no charge, any time of day. No wire fees, no wait times, no ACH delays.

Preferred Rewards Tier Counting

Your Merrill Edge balance counts alongside your FCB deposit balances to qualify for Gold, Platinum, or Platinum Honors status — unlocking rewards bonuses, savings boosters, and mortgage discounts.

Automatic Investment Transfers

Set up recurring automatic transfers from your FCB checking account to your Merrill Edge account on any schedule — weekly, bi-weekly, monthly. Automate your investment contribution without logging in each time.

Shared Security Infrastructure

Federal Crown Bank's $3B/year cybersecurity investment protects your Merrill Edge account. The same multi-factor authentication, device recognition, and fraud monitoring that protects your bank account protects your investments.

Cash Rewards on FCB Cards

Deposit cash rewards from your Federal Crown Bank credit card directly into your Merrill Edge account — turning everyday spending into automatic investing contributions with a single click each month.

FAQ

Merrill Edge FAQs

How do I open a Merrill Edge account?

Opening a Merrill Edge account takes about 10 minutes online. You'll need your Social Security number, a government-issued photo ID, and your bank routing and account number to fund the account. If you already have a Federal Crown Bank account, many of your details are pre-filled. You can also open an account in any Federal Crown Bank financial center with the help of a Merrill Edge advisor.
How do I get approved for options trading?

Options trading requires a separate application and approval process. You'll answer questions about your income, net worth, investment experience, and knowledge of options. Merrill Edge offers four options approval levels: Level 1 (covered calls, cash-secured puts), Level 2 (long puts/calls), Level 3 (spreads), and Level 4 (uncovered short options — requires significant net worth and experience). Approval is not guaranteed and may take 1–3 business days.
Does Merrill Edge allow short selling?

Yes — short selling is available in margin-enabled taxable brokerage accounts. You must apply for margin approval (requires a minimum $2,000 in your account per FINRA rules). Short selling is not permitted in IRA accounts. Note that short selling carries unlimited loss potential and may also incur stock borrow fees ("locate fees") on hard-to-borrow securities. Margin interest accrues daily on the short position value.
Can I open a margin account at Merrill Edge?

Yes. To open a margin account, you need a minimum of $2,000 in equity (regulatory minimum). Merrill Edge charges margin interest ranging from approximately 8.50%–11.50% APR depending on your margin balance — lower balances incur higher rates. Preferred Rewards members may receive a rate reduction. Margin amplifies both gains and losses; it's a borrowing facility and carries substantial risk.
Does Merrill Edge offer fractional shares?

Yes — Merrill Edge offers fractional share investing, allowing you to purchase as little as $1 worth of any stock or ETF regardless of the share price. This lets you invest in high-priced stocks like Amazon or Berkshire Hathaway B without needing to buy a full share. Fractional share orders are market orders executed at the prevailing price and are available for most U.S. exchange-listed securities.