Merrill Edge Paper Trading (Demo Account) in 2024

Merrill Edge demo account. Merrill Lynch virtual simulator account to practice trading stocks and ETFs.

Merrill Edge Paper Trading

Merrill Edge does not offer paper trading (also known as simulated or practice trading) service. For a 100% free paper trading, we recommend Webull practice account.

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Merrill Edge Overview

At Merrill Edge, customers have access to a selection of 102 Vanguard mutual funds, encompassing Vanguard index funds, target retirement funds, and balanced funds.

Merrill Edge offers a user-friendly fund screener equipped with various criteria to simplify and enhance search accuracy. These criteria include asset class, load type, performance, R-squared, dividend yield, return versus category, and more. Users can also narrow down their search by Morningstar category, which encompasses a wide range of fund categories such as consumer defensive, bank loans, Latin American stock, global real estate, and mid-cap blend. Within the world bond category alone, there are 54 funds available. Some of these funds carry a Lipper rating of 5 and come with no load or transaction fees. The screening results can be sorted by different criteria such as risk, performance, and expenses, and saved for future reference, streamlining subsequent searches.

Pre-defined screens are also at hand, offering investors a selection of options including target-date funds, index funds, and socially-responsible funds.

Hovering over a ticker symbol in the screener's results triggers a small pop-up window displaying vital information. This includes the fund's most recent NAV, a compact chart, load and transaction fee status, expense ratio, and more. The window also provides convenient buttons for executing trades and accessing more detailed research.

Clicking on a fund's ticker leads users to the fund's profile page, where they can find the prospectus and delve into further essential information. Charts, performance data, holdings, risk assessment, and expenses can be thoroughly examined here.

Merrill Lynch Demo Account

Merrill Edge offers decent charting tools for mutual funds, enabling users to compare a fund's price history with that of a stock, economic sector, or index. Different graph styles, such as OHLC, candlesticks, line, and mountain, can be selected.

Merrill Edge Paper Trading

While Merrill Edge provides a mobile app for its clients at no cost, it is important to note that mutual fund trades cannot be executed through the app. However, limited research on funds is still possible using the mobile app.

Merrill Edge Paper Trading Summary

In summary, despite having a relatively small mutual fund list, Merrill Edge offers excellent research tools. Investors seeking comprehensive trading tools and investment research at the same pricing as Merrill Edge may want to consider Charles Schwab.