Bonus Offer For New Self Investment Accounts
Merrill Edge is currently providing new clients with up to $600 when they open a new investment account. With so many investment accounts to choose from it is possible that a bonus offer may be the difference maker.
Bank of America offers this investment platform for US traded stocks, ETFs, and more. This offer is only available to Bank of America clients. Bank of America is well known for their generous new account offers.
The current offers run through October 14th, 2019. Let’s take a look at the offer and the features provided for Merrill Edge Accounts.
Bonus Offer Based On Total Deposit
There are four tiers for this new account offer. The total cash bonus you are eligible for will depend on how much money you deposit in to your account. The more you deposit, the more you will be eligible to receive.
The lowest tier eligible for a bonus requires a deposit of $20,000. Customers at this tier will receive a $100 bonus. Depositing at least $50,000 will provide new accounts with a $150 bonus. Investments of $100,000 will earn $250. Finally, top tier bonuses are eligible with a minimum deposit of $200,000 and will receive the full $600 bonus.
When creating a new account customers will need to provide the offer code “600AUG19” at the offer website MerrillEdge.com/YourOffer. Your bonus will be based on the total deposited in to your account within the first 45 days of opening your new investment account.
After 90 days of opening you new account your cash reward will be assessed. Reward offers will be deposited about 2 weeks after the 90 day period. Total is based off of deposits and will not be impacted by gains or losses to your investments.
Accounts Features Provided With Merrill Edge
One of the primary benefits offered with Merrill Edge that draws clients is their free trade offers for stocks and ETFs. Free trades are offered to Preferred Reward clients. If you are not a Preferred Rewards client you will be charged $6.95 per trade.
Qualifying for Preferred Rewards Gold Status requires at least $20,000 in your combined Bank of America Accounts. You will receive 10 free trades each month. A balance of $50,000 qualifies customers for Platinum Status and will receive 30 free trades per month. Finally, a balance of $100,000 will allow for 100 free trades per month.
Preferred Rewards customers also receive many other benefits with their Bank of America Accounts. Most notably, you will receive a huge reward bonus for your Bank of America Credit Cards. Credit card rewards are increased by 25%, 50% and 75% respective to your Preferred Rewards level.
Merrill Edge offers trades for stocks, bonds, ETFs, options, and many mutual funds.
Selecting The Best Self Directed Investment Account
Investment platforms like Robinhood and Mint are revolutionizing the way individuals investment their money. This has been great for consumers who use traditional investment platforms like Merrill Edge. Many new incentives are being offered for new customers and features to maintain current customers.
Features like free trades are becoming very common. If you are not eligible for Preferred Rewards you will not have free trades with Merrill Edge. For this reason, investors who are just starting out with less than $20,000 may prefer less costly investment platforms.
Customers who are able to qualify for Preferred Rewards will find that they will rarely ever pay for a trade unless they are very high volume traders. For investors who are “day trading”, making many trades per day, will want to look for lower cost options.