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



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


Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
TD Ameritrade $6.95 $49.95 $6.95 + $0.75 per contract $0 $0
Scottrade $6.95 $17 $6.95 + $0.70 per contract $0 $0
Fidelity $4.95 $49.95 ($75 for some funds) $4.95 + $0.65 per contract $0 $0
Charles Schwab $4.95 $76 ($0 to sell) $4.95 + $0.65 per contract $0 $0
Etrade $6.95 $19.95 $6.95 + $0.75 per contract $0 $0
Vanguard $7-$20 $8-$35 $30 + $1.50 per contract $20* see
Chase $9.99 $24.95 n/a varies varies

** Vanguard is charging $20 annual maintenance fee (waived if user chooses to receive statements and other information electronically).

Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
TD Ameritrade
Scottrade
Fidelity
Charles Schwab
Etrade
Vanguard
Chase


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 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 competitors, Fidelity Investments, Schwab and Ally Invest are charging for stocks and ETF's $4.95 per trade. The other firms offer rates ranging from $6.95 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 ia available.

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.


Scottrade Update


Scottrade was acquired by TD Ameritrade last year. TD Ameritrade plans to fully integrate Scottrade by November of this year. For this reason it makes more sense to open an account with TD Ameritrade directly and skip possible transition inconveniences. New customers could take advantage of TD Ameritrade's bonus that allows them to trade for free for two months and gives up to $600 bonus.


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.

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. The company is also recommended for beginners and for retirement accounts.

Etrade is one of the best brokerage houses for investing in fixed income securities.

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:

TD Ameritrade (see here),

E*trade (see here),

Scottrade (see here),

Charles Schwab (see here),

Fidelity Investments (see here),

J.P. Morgan Chase (see here),

Vanguard Brokerage (see here).


New Customer Offers

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

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

Charles Schwab: Make $100,000 deposit and get 500 commission-free online equity and options trades.

Fidelity Investments: Get 500 free trades with $100,000+ deposit.

Etrade: At E*TRADE, active traders get $4.95 trades + 50₵ per options contract.




Updated on 8/16/2017.




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