Compare J.P. Morgan Chase vs Fidelity, TD Ameritrade, Etrade, Charles Schwab, Scottrade, and Vanguard



J.P. Morgan Chase vs Etrade, TD Ameritrade, Charles Schwab, Scottrade, Fidelity, and Vanguard: Comparison Chart


Fees Stocks Products Trading Tools Client Service Research Overall
Scottrade $7
Ameritrade $9.99
Etrade $9.99
Fidelity $7.95
Schwab $8.95
Vanguard $7-$20
Chase $9.99


J.P. Morgan Chase and Competitors


In addition to managed investment accounts, J.P. Morgan Chase offers self-directed brokerage service which is similar to the other firms in this review. Incidentally, the other six companies in our comparison are the largest brokerage houses in the U.S. that offer self-directed investment accounts. Self-directed means that it's a client who is making all investment decisions, which is the opposite to managed account, where all or most decision-making is handed over to the firm (advisors).

TD Ameritrade, Etrade, Fidelity, Charles Schwab and Scottrade are the most recognized online investing firms in the U.S. Vanguard is best known for its family of low-cost mutual funds.


Pricing

When it comes to investing costs, J.P. Morgan Chase is charging somewhat high $9.99 per trade rate on stocks and ETFs. There is also a surcharge of 2 cents for each share over 1,000. No-load mutual funds are priced at $24.95 per transaction.

The best priced competitor, Scottrade, has a commission of $7 for stock and ETF trades. The other firms offer rates ranging from $8 to $20 per stock or ETF trade (Vanguard's commissions are tied to the size of account balance, ranging from $7 to $20).

Transaction-fee, no-load mutual funds cost $17 per transaction at Scottrade. Other brokerage houses charge higher commissions: from $20 (Etrade) to $76 (Schwab) for the same trades. All firms, however, offer no-transaction fee mutual funds, and some even offer no-transaction fee ETFs (TD Ameritrade, Schwab, Vanguard, and Fidelity).


Services

TD Ameritrade provides arguably the best trading platform in the industry - Thinkorswim. The firm also has the richest offering of third party independent investment research from 13 companies.

Charles Schwab and Scottrade are providing the top rated customer service - their representatives are always cordial and knowledgeable. All firms in this article (except J.P. Morgan Chase) offer a tremendous selection of various investment products - just about anything their clients might think of.

Most of the companies in this comparison (except Vanguard and J.P. Morgan Chase) have easy-to-use and powerful trading tools. Etrade, Fidelity, Schwab and TD Ameritrade also offer professional trading platforms that are "must-have" for active investors.

All firms in this article (except Vanguard and J.P. Morgan Chase) do not charge IRA accounts (ROTH, Traditional, self-employed) maintenance fees (sometimes also called annual fees). Some of these companies don't even charge for closing IRA accounts.


Recommendations

It's very hard to find reasons to open a brokerage account at J.P. Morgan Chase. If the company does not feature its self-directed brokerage service even on its own website (it looks like they hide it from their visitors), and their brokerage fees are nowhere to be found online, then investors should take a hint.

Scottrade is the best priced company among large brokerage houses. It attracts customers that want the safety of the established brokerage firm along with low pricing. The company is also recommended for beginners and for retirement accounts.

TD Ameritrade is great online broker for mutual funds and long-term investors as well as for anyone looking for the best trading tools and independent investment research amenities.

Fidelity Investments and Vanguard are our recommendations for clients looking to invest in Fidelity's and Vanguard's own families of mutual funds and exchange traded funds.

There is a lot more information available on all of the companies in this article in detailed brokerage reviews:

Scottrade (see here),

TD Ameritrade (see here),

E*trade (see here),

Charles Schwab (see here),

Fidelity Investments (see here),

J.P. Morgan Chase (see here),

Vanguard Brokerage (see here).


New Customer Offers

Scottrade: Get up to $100 in account transfer fee reimbursed.

TD Ameritrade: Trade free for 60 days + get up to $600.




Updated on 1/14/2017.



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