Lightyear vs Merrill Edge - BrokerCue
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Broker Comparison

Lightyear vs Merrill Edge

Compare Lightyear and Merrill Edge side by side: fees, regulation, platforms.

Lightyear

Lightyear

Cost-conscious long-term investors

Low-cost investing platform with free ETFs, multi-currency accounts, fractional investing, savings products, โ€ฆ

VS
Merrill Edge

Merrill Edge

Bank of America customers and long-term investors

Merrill Edge is a Bank of America brokerage offering commission-free stocks, ETFs and options, integrated banโ€ฆ

Head-to-head comparison

Lightyear vs Merrill Edge
Feature Lightyear Merrill Edge
Minimum deposit - -
Stock trading fee US shares: 0.10% (0.10 USD min - 1 USD max); UK shares: 1 GBP; EUR-denominated stocks, bonds, ETNs and ETCs: 1 EUR; other European stocks: 0.10% $0 per online trade; broker-assisted: $29.95
Regulators FCA, EFSA, FINRA, SIPC FINRA, SEC
Best for Cost-conscious long-term investors Bank of America customers and long-term investors
Markets & account
Stocks
ETFs
Crypto
-
Bonds
Options
-
Funds
Fractional Shares
-
Investment Plans
-
Ready Made Portfolios
Savings Vaults
-
Money Market Funds
Multi Currency
-
Business Account
-
Margin
-

Pros & cons

Lightyear

Lightyear

Pros

  • No account fee
  • Free ETF execution and custody
  • 0.35% FX conversion fee
  • Multi-currency account
  • Fractional investing
  • Web, iOS and Android access
  • Savings Vaults with money market funds
  • SIPC protection for US securities

Cons

  • Stock fees vary by instrument
  • Card deposits cost 0.6%
  • Crypto assets lack investor compensation cover
  • Product availability may vary
  • Money market fund fees apply
  • Some withdrawals may require currency conversion
Merrill Edge

Merrill Edge

Pros

  • No commissions on online stock and ETF trades
  • No account minimum and no inactivity fee
  • Integrated with Bank of America banking via single login
  • BofA Rewards program offers banking perks for combined account holders
  • SIPC protection up to $500,000 plus additional Lloyd's of London coverage
  • MarketPro platform for active traders with Level II quotes
  • Extensive research tools and educational resources
  • Merrill Guided Investing robo-advisor available from $1,000

Cons

  • No fractional shares
  • No cryptocurrency trading
  • No futures or forex trading
  • No paper trading or demo account
  • Margin rates are high compared to some competitors
  • Mobile app options trading experience is limited
  • No-transaction-fee mutual fund list is smaller than some competitors
Lightyear

Lightyear

Low-cost investing platform with free ETFs, multi-currency accounts, fractional investing, savings products, and a 0.35% FX fee.

Your capital is at risk. Other fees apply.

Merrill Edge

Merrill Edge

Merrill Edge is a Bank of America brokerage offering commission-free stocks, ETFs and options, integrated banking rewards, and a robo-advisor service.

Your capital is at risk. Other fees apply.

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