Important Facts
• Self-directed brokerage accounts are available at WellsTrade, J.P. Morgan Investing, and Charles Schwab.
• All three companies have affiliated divisions that provide investment-advisory accounts.
• Advanced trading software is available only at Schwab.
Overview of Wells Fargo vs J.P. Morgan
Are you considering a new investment account? If so, WellsTrade,
Schwab, and J.P. Morgan Investing may all be worth reviewing. These
three firms provide a mix of investing and banking features.
Cost
| Broker Fees |
Stock/ETF
Commission |
Mutual Fund
Commission |
Options
Commission |
Maintenance
Fee |
Annual IRA
Fee |
|
Charles Schwab
|
$0
|
$49.95 ($0 to sell)
|
$0.65 per contract
|
$0
|
$0
|
|
Chase
|
$0
|
$0
|
$0.65 per contract
|
$0
|
$0
|
|
WellsTrade
|
$0
|
$35
|
$0.65 per contract
|
$0
|
$0
|
Services
Promotions
Charles Schwab: $0 commissions + ACAT rebate + satisfaction guarantee at Charles Schwab.
Chase:
Currently, no promotions.
WellsTrade: Does not offer promotions.
Trading and Investing
Self-directed investors at Charles Schwab can trade and invest in these financial products:
- Equity options
- Futures
- Options on futures
- Forex
- Bonds and other fixed-income assets
- Stocks
- OTC stocks
- Penny stocks
- Foreign stocks
- Funds, including mutual, exchange-traded, and closed-end funds
- Annuities
WellsTrade does not offer futures, options on futures, forex, annuities, or foreign stocks. Its sister company Wells Fargo Advisors does offer annuities in full-service accounts.
J.P. Morgan Investing removes the same products from the lineup. Its sister company J.P. Morgan Wealth Management offers annuities in full-service accounts.
Advisory accounts are available at Schwab, Wells Fargo Advisors, and J.P. Morgan Wealth Management. Schwab and Wells Fargo Advisors have robo accounts that invest in ETFs.
Winner: Schwab
Managing Cash
All three brokerage firms in this comparison have affiliated banks that provide FDIC insurance and several extras, such as debit cards and checkbooks. In all three cases, checking and savings accounts can be connected to investing accounts.
At WellsTrade, a brokerage account can include a separate brokerage cash feature with its own routing and account numbers. This feature can be used in a bank-like way, and checks can be ordered for it. This brokerage cash feature has no minimums and no fees, which gives it an advantage over some deposit accounts available at Wells Fargo Bank. Those accounts can also be linked to a WellsTrade account.
Schwab offers bank accounts with no fees or minimums, along with links to investing accounts. It also provides unlimited ATM fee refunds around the world.
Winner: Schwab
Using Margin
Brokerage clients at all three securities firms can use margin trading if they want to. J.P. Morgan Investing does not allow short positions, but its current margin access includes options, fixed income, mutual funds, stocks, and ETFs.
For stock and ETF trades, margin details are displayed on J.P. Morgan Investing’s trading platforms for the ticker symbols entered. Schwab shows similar information on some of its platforms.
Pricing is as follows:
WellsTrade: 12.5% for smaller households, with lower rates for larger household-asset tiers
Schwab: 11.825% for smaller balances, with lower rates for larger debit balances
J.P. Morgan Investing: 11.5% for the lowest tier, with lower rates for larger balances under its Prime- and SOFR-based schedule
WellsTrade customers with assets above $250,000 are eligible for discounts.
Schwab clients can change an account from cash to margin status on the broker’s website. At WellsTrade, clients can apply for margin while opening an account online or later by completing the Margin Account Form.
Winner: Schwab
Website Tech
A broker’s website is a good starting point for trading and investing. Schwab has the most advanced site of the three, with very strong trading tools. The selection includes not only a pro-level trading ticket but also a browser platform called thinkorswim. It includes simulated trading called paperMoney to help users learn the software.
The WellsTrade and J.P. Morgan Investing websites are fairly limited when it comes to trading tools. Neither site has full-screen charting, and both sites have trade tickets with just 4 order types: market, limit, stop, and stop limit.
Winner: Schwab
Mobile Apps
The same general picture appears on the three companies’ mobile platforms. Schwab actually has two apps. One of them is a thinkorswim system with some very powerful tools. For example, charts include hundreds of technical studies, and the order ticket can submit an order for a specific date and time.
WellsTrade and J.P. Morgan Investing do not provide that level of advanced trading power. Their apps do, however, include helpful personal-finance tools because of their connections with some of the world’s largest banks.
All three apps have mobile-check deposit. Only the Schwab app, the main app, has Schwab Assistant.
Winner: Schwab
Desktop Platforms
Because Schwab focuses heavily on advanced trading, it offers a desktop program. This platform also carries the thinkorswim name and includes some very advanced features. J.P. Morgan Investing and WellsTrade do not have comparable software.
Winner: Schwab
Extra Services
Periodic Mutual Fund Investing: The three brokerage houses in this comparison offer autopilot mutual-fund purchases.
Extended-Hours Trading: After-hours trading is available at all three brokerage firms. Schwab and J.P. Morgan Investing also offer pre-market trading, and Schwab has 24/5 trading in a large list of stocks and ETFs.
IPO Access: Schwab, and only Schwab, offers access to upcoming stock releases.
Fractional Shares: WellsTrade customers can buy eligible stocks and ETFs using whole dollars, starting at $10. Schwab restricts its service to the 500 stocks of the S&P Index, starting at $5. J.P. Morgan Investing also offers fractional shares in eligible stocks and ETFs, starting at $5.
DRIP Service: Available at all three broker-dealers.
Fully-Paid Securities Lending Program: Only at Schwab.
Individual Retirement Accounts: IRAs are available at all three investment firms. WellsTrade and J.P. Morgan Investing charge fees to close them.
Winner: Schwab
Recommendations
Mutual Funds: The best fund resources and the largest number of funds will be found inside a brokerage account at Charles Schwab.
Long-Term Investors & Retirement Savers: Self-directed investors will be best served at Schwab. For investors who want investment advice, we can make a case for any of the three with a financial planner at a local branch office.
Frequent Stock Trading: We have to choose Schwab again. Its desktop program will provide the highest level of trading.
Small Accounts: A taxable brokerage account at any firm in this comparison has no minimum-deposit requirement. Because all three firms offer fractional-share trading, they can all work for smaller self-directed accounts, although the eligible securities and minimum purchase amounts differ.
Beginners: We recommend a managed account at any securities firm in this survey.
Final Judgment
There is no doubt that WellsTrade and J.P. Morgan Investing do well in some situations, but overall, they are not equal to Charles Schwab.
Open Charles Schwab Account
Visit Schwab Website
Open Chase Account
Visit J.P. Morgan Website
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Updated on 5/30/2026.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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