Chase vs Ameritrade

JP Morgan Chase You Invest vs TD Ameritrade


2019 TD Ameritrade versus JP Morgan Chase You Invest Trade - which is better? Compare IRA/Roth accounts, online investing fees, stock broker mutual fund rates, and differences.



Overview of Chase and TD Ameritrade


TD Ameritrade and JP Morgan Chase You Invest Trade offer low-cost trading services via Internet platforms. But the similarities stop there as these two companies are quite different from each other. Let’s compare these two brokers and see if one is the better firm.


Cost


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
Chase $2.95 $0 n/a $0 $0


Services


Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
TD Ameritrade
Chase


Customer Support


JP Morgan Chase You Invest Trade has associates on the phone from 8 am until 9 pm, EST. These sessions are held during the week only. On Saturday, the broker-dealer is open from 9 am until 5 pm, and there are no hours on Sunday.

There is no chat service on the You Invest Trade site (either in human or robo format), although internal messaging is available after logging in. Chase has lots of bank branches, but as of right now, there are no You Invest Trade locations.

Moving to TD Ameritrade, we see a major improvement. The brokerage house is open all hours of the night and day. Furthermore, the company has representatives who speak Spanish and Chinese. The TD Ameritrade site doesn’t normally provide on-line chat service (we have spotted it occasionally), although there is a robo-chat service named Ted. We especially liked the self-help section on TD Ameritrade’s website. Investors who prefer in-person service can find it at one of the broker’s 300+ locations.


JP Morgan Chase Trading Account


Trading Software


In this category, the difference between the two brokerage houses is going to become even larger. TD Ameritrade offers one of the best suites of trading tools in the industry. First is its very well-designed website, which itself is capable of placing trades for securities (although not futures or forex, which TDA offers).

Next is SnapTicket, a very useful trade bar that sits at the bottom of the browsing window. A step higher is Trade Architect, a user-friendly and simple browser-based trading system. While elementary, it does offer advanced charting and option chains.

Traders who don’t want the simplicity of Trade Architect can upgrade to thinkorswim free of charge. This is the company’s flagship desktop program, and it offers many professional-level features, such as direct-access routing, futures and forex trading, and robust screeners.


Ameritrade versus Chase


To compare Chase to TD Ameritrade in this category almost seems unfair. Chase doesn’t offer a trade bar on the You Invest Trade site; in fact, the You Invest Trade site is very simple and doesn’t provide the great features we found on TD Ameritrade’s site.

You Invest Trade customers don’t get to use a browser-based platform, and you’ve probably guessed by now that there is no desktop software available. Traders at You Invest Trade use simple web pages to submit orders. These may be sufficient for some traders, but there’s a lot missing. For example, there are only a few order types and two time-in-force options.

Charting on the You Invest Trade website is virtually non-existent. There is a small chart on a stock’s profile page that displays only three timeframes (1-day, 3-month, and 1-year). thinkorswim, on the other hand, is one of the best charting programs we have used.


Mobile Platforms


For mobile apps, the technology gap continues. You Invest Trade clients get the regular Chase mobile app, but it seems to be a slimmed down version after logging in. We didn’t find a mobile check deposit function in our brokerage account, for example; although Chase bank customers do get that feature. It’s the same app.

Also missing for investment customers is streaming business news, which TD Ameritrade customers get at no cost. Chase offers security information on an entered security symbol, but it’s very brief. Stocks, mutual funds, and ETF’s can be traded on the app (You Invest Trade doesn’t offer options).

TD Ameritrade actually has three mobile apps. The basic version can be used to trade mutual funds. A thinkorswim app has very robust charting and can trade futures and forex. Mobile check deposit, bill pay, and funds transfer are on at least one app. We also liked the option chains that were available. Free stock reports were an added bonus.

TD Ameritrade also offers a skill for Amazon Echo and a platform for Apple Watch, both of which have been overlooked by You Invest Trade.


Mutual Funds and ETF’s


TD Ameritrade has a very good mutual fund screener on its website. A test run revealed 11,304 securities that were open to new investors. Selecting no-load, load-waived, and no-transaction-fee options cut this list down to 3,765.

For ETF traders, TD Ameritrade provides over 250 funds that are completely free to buy and sell. There is a 30-day minimum hold period for these funds.

Moving to You Invest Trade, the picture doesn’t quite look as good. The brokerage firm provides just 2,600 mutual funds, and all of these are no-load, no-transaction-fee products. While Chase offers a good fund screener, we found TD Ameritrade’s a little better in terms of usability and search criteria.

On the ETF side, You Invest Trade of course offers these products; although none are commission-free. Many customers do qualify for free equity trades, however.

While TD Ameritrade has a very good ETF screener, we liked the ability at You Invest Trade to click on squares on a Morningstar style box to select specific types of funds, such as small-cap growth funds.


Promotions


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

JP Morgan Chase: First year get 100+ commission-free online stock and ETF trades.



Recommendation


For mutual fund traders, we have to recommend TD Ameritrade. Besides its larger list of funds, we found its educational and research materials to be much more extensive. We also endorse the broker for active stock and option traders. Its free software is unsurpassed in the industry. For beginners and other investors who need good customer service, once again we suggest TDA.

We can endorse You Invest Trade for budget-conscious traders who want the lowest possible costs and the best value. The brokerage firm would also be a good pick by Chase Bank customers, as they stand a good chance of getting discounts on You Invest Trade’s already low fees.


JP Morgan Chase vs TD Ameritrade - Results


JP Morgan Chase’s new low-cost broker You Invest Trade is trying to compete with some very large players like TD Ameritrade (read review). So far, it seems to be rather deficient in most categories other than costs.