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U.S. self-directed investors · Bank of America banking customers · Stock, ETF, mutual fund, bond and options investors

U.S. self-directed stock/ETF investors · Options traders · Futures traders needing CME/ICE US/CFE access

Registered with the SEC as broker-dealer and investment adviser; member FINRA and SIPC.

FINRA/SEC/SIPC for Morgan Stanley Smith Barney LLC; NFA/CFTC for futures; FDIC for Morgan Stanley Private Bank deposits; NYDFS for Zero Hash crypto-related services disclosed by E*TRADE.

Official Merrill/BofA sources reviewed did not disclose SEC/FINRA registration or CRD numbers in the captured evidence.

Morgan Stanley Smith Barney LLC: CRD# 149777; SEC# 801-70103 and 8-68191. E*TRADE Futures LLC: NFA ID 0401545 from NFA BASIC search result.

Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S) and Managed Account Advisors LLC (MAA).

Securities and advisory services: Morgan Stanley Smith Barney LLC; commodity futures/options on futures: E*TRADE Futures LLC; banking: Morgan Stanley Private Bank, National Association; crypto commission charged by zerohash with Zero Hash NYDFS virtual currency business licenses noted on crypto page.

No retail negative-balance protection disclosed; margin agreement warns clients can lose more funds than deposited and remain responsible for shortfall.

No negative balance protection found; official margin/futures disclosures state customers may lose more than deposited funds and be liable for deficits.

Member SIPC; investment products are not FDIC insured or bank guaranteed and may lose value.

SIPC: up to $500,000 including $250,000 cash; excess of SIPC policy: $1B aggregate firmwide, $1.9M per client uninvested cash; FDIC: brokerage sweep up to $500,000 individual/$1,000,000 joint and bank deposits at least $250,000 or $500,000 for Premium Savings where conditions are met.

Self-Directed: no balance minimum; Guided Investing: $1,000 minimum; CMA: $20,000 minimum funding, not applicable to MESD/MGI/MGI with Advisor/MEAA.

Brokerage accounts: no minimum funding requirements; Core Portfolios: $500 minimum; Premium Savings/Bank CD/Checking: $0 minimum opening deposit but must be funded within 90 days to remain open where disclosed.

Not applicable to this stock/ETF investment broker profile; no CFD/FX spread schedule identified as a core product in reviewed sources.

Not applicable as a primary pricing metric for this U.S. securities/futures/banking platform; E*TRADE discloses commissions, contract fees, bond markups/markdowns and margin rates rather than forex/CFD-style spreads.

Self-Directed online stock/ETF/options commission $0; options $0.65/contract; broker-assisted fee lower of $29.95 or 5.00% of principal.

stock_commission: $0 for online U.S. exchange-listed stock trades; OTC stock trades $6.95 online or $4.95 for 30+ trades/quarter; broker-assisted trades add $25.; etf_commission: $0 online ETF trades.; options_commission: Options: $0 base commission, $0.65 per contract, reduced to $0.50 with 30+ trades per quarter; exercise/assignments $0; regulatory/exchange fees may apply.; futures_commission: Futures and options on futures: $1.50 per contract per side plus exchange, NFA and other fees.; mutual_fund_commission: $0 for no-load, no-transaction-fee funds; load funds per prospectus; E*TRADE states $0 for online U.S.-listed mutual fund trades in FAQs.; bond_commission: Bonds/CDs: $1 per bond for online secondary trades ($10 min/$250 max); U.S. Treasury auction and online Treasury secondary trades $0; broker-assisted online secondary pricing plus $20 commission.; crypto_commission: Cryptocurrency commission: 0.50% on notional trade value, charged by zerohash, of which E*TRADE receives a portion.

Returned deposit/ACH-related fees listed at $0 in Merrill Edge Self-Directed fee schedule; standard deposit fees not separately disclosed.

ACH Transfer Money is free; incoming wire transfers listed as $0; incoming non-U.S. currency may incur conversion fees from Wells Fargo/MSPBNA note says MSPBNA does not charge fees on incoming USD wires.

Wire $24.95; ATM transaction $0; full ACAT/account transfer $49.95; closeout $49.95 for BASIC/IRA/IRRA/ROTH/SEP/SIMPLE.

Outgoing wire transfers: $25; full outgoing account transfer: $75; check requests: $0; stop payment requests: $25.

No inactivity fee was listed in the official Merrill Edge Self-Directed miscellaneous account/service fee schedule extracted, but the official source did not explicitly say 'no inactivity fee'.

No inactivity fee found in checked official Pricing and Rates account activity, special request and brokerage account pages.

Stocks, ETFs, mutual funds, fixed income/bonds, options, brokered CDs, and cash sweep/cash management products.

E*TRADE offers stocks, ETFs, options, futures, mutual funds, bonds/CDs, IPOs, crypto-related securities/futures, cash savings and managed portfolios.

Merrill Edge online/web, Merrill Edge MarketPro, and Merrill mobile apps.

E*TRADE Web/App for investors; Power E*TRADE Web/App/Pro for active and advanced traders.

Self-directed, guided/advisory, general investing, retirement, education and small business account options, including CMA/BIA/IRA/ROTH/SEP/SIMPLE/529 account types.

Brokerage, retirement, managed portfolios, small-business retirement, banking and crypto-related account/exposure categories are listed on the official accounts page.

Bank of America transfers, external financial institution transfers, mobile check deposit, direct deposit/EFT, and account/securities transfers.

Funding methods include Transfer Money (ACH), wire, external asset/account transfer, mobile or mailed checks, direct deposit and internal transfers.

EFT, checks/check-writing, debit card, wire transfer and linked Bank of America/Merrill transfers.

Withdrawals/money movement supported via Transfer Money, wires, check requests, internal transfers and account transfers; exact outbound methods depend on account type and destination.

Public official sources reviewed did not disclose a standard withdrawal processing time for Merrill Edge Self-Directed withdrawals.

ACH outbound to external account: contact receiving external institution; wire transfer: same business day if received before 6 p.m. ET; internal transfers generally immediate; full brokerage transfer electronically typically 10+ business days, paper/mail 3-6 weeks.