Merrill Lynch Reviews 148

The more people hate BoA , the more people dislike Merrill Lynch. People have no choice to join them even
they had to deal with the stupidity and arrogance of both customer services.
I felt ashamed to give them 2 stars !

Don't have a free phone number to call easily which is absolute crap.
Pretty sure you perhaps have to safety

ON 11/24/2020 9:30 am place a trade on merrill edge app, AAL short 2,000 shares at 14.31. a few minutes later i tried to place a buy to cover at 14.18 which would have resulted in a profit of 260.00. the app just spun and spun and trade was never placed. at the time I thought it was my connection. the stock price rose, i went in to place another trade short 2000 more shares at 14.31 at 9:47 am . now i have AAL short 4000 total shares at an average of 14.43. after this trade the whole site crashed completely, what i thought was my connection turned out to be a major system crash at merril lynch. not knowing how long this issue would take to correct i drove to work. at 11:13 am the stock was at 14.40 unable to login still i proceeded to call them. at the prompts it asked for my account number, i do not have this written down in my pocket and could not long in to retrieve as i normally would i selected the prompt to talk to someone, i was disconnected immediately , i called back 2 minutes later at 11:15 am and was disconnected again. finally after approximately 4 hours the site finally came back up.
on 11/25 i called to and finally was connected to someone, i explained what all had happened in detail, he stated he would open an investigation and get back to me, he went ahead and processed a buy to cover for the 4000 shares at 14.90 resulting in a loss of 1880.00, he called me back and said he could not find where i had tried to call. I told him i had it in my phone and could send proof of call, he directed me to the site and showed me where i could upload the proof, and i did.
Proof sent to merrill lynch
screenshot of call made at 11:13 am
screenshot of call made at 11:15 am
screenshot of my goggle history showing where i was looking at the outage over 20 searches
screen shot from Merrill lynch showing AAL ticker was trading at 14.40 at the time of my calls
screen shot from CNBC showing AAL ticker was trading at 14.40 at the time of my calls
on 11/30 the rep called me back and said the trade would stand and no assistance would be given. the reason is that the number i called 866-706-8321 was not the number to place trades. what? where did i get the number then? it walked me through the normal prompts as always, it is the number listed as customer service. he then asked me an outrageous question, did you call this number as an excuse? my answer ell hell no because was making 120 at the time of my call. after back and fourth i asked for a supervisor to reach out. Micahel Damdrosia reached out , i went back through the details again.
question where did you find the number you called? answer merrill lynch website i guess
why did you only call twice? answer- how many time should i have to call
why did you wait till next day to call again? answer i have a job, i called when i had time to call
blah blah blah, we cant help you. so Michael we agree your website was down half the day? his answer YES, we agree i tried to call you? his answer YES. but you can not help with issue that merill caused ? his answer NO.
So after being a Bank of America customer for over 20 years, a platinum honors customer, over 15 active accounts, numerous loans, multiple credit cards, all I get is rude customer service , baseless and nonsensical accusations, a trading platform that has crashed numerous time over 3 months. Bottom line this was not my issue, I did far more then i ever should have had to and i get zero assistance.

Steven Miller
Platinum Honors Member

Really bad website, so difficult to navigate. I spent way too much time trying to get my funds out of there and into a better place.

I have always enjoyed having Merrill Lynch for my investements. I've done will and my broker will help me with everything I need.
He has been in contact with me during this pandemic to see if I needed anything.
Thank you John Hoskins The Hoskins Group Lynchburg, Va.

I do not trust this company. I held shares with ML, then suddenly they just gave the shares away. They are lost and after many appeals to Merrill Lynch, they refuse to help me. If you want brokers who will go the extra mile, if you want men and women to have your back, if you want a firm that, when it makes a genuine mistake, owns up and makes it right - if you want these kinds of attributes in your broker, then go elsewhere. If all you want are automatons who just follow orders, and with a risk of losing your entire retirement fund - the enter here (but you were warned).

For day or swing traders this site and ML as a brokerage firm is simply unusable.

The interface is slow and clunky, your realized gains and losses is not reported correct until 3 days+ after the trade. The system breaks down and will not let you exit out of positions if you accidental take a short and long at the same time(you have to call their customer service to exit out for you....) You have the options of Stop and Stop limit, rolling stops are a dream here. You can't set a stop loss and limit at the same time.

Unless you are a Bank of America customer and just want to do long-term hold stocks for months investing, avoid this site at all costs because it will cost you.