Zackstrade vs J.P. Morgan Chase


2022 J.P. Morgan Chase vs Zackstrade - which firm is better? Compare IRA/Roth accounts, online investing fees, stock broker mutual fund rates, and differences.


J.P. Morgan Chase vs Zacks Trade


J.P. Morgan Chase and ZacksTrade are very different investment firms. Be sure you know the following differences before opening a trading account with either broker.


Broker Cost


Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
Chase $0 $0 $0.65 per contract $0 $0
ZacksTrade $1+ $27.50 $0.75 per contract $0 $0


Services


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


Promotions


ZacksTrade: Get as low as 3.56% margin rate + $150 ACAT fee refund.

J.P. Morgan Chase: Get up to $625 when you fund a J.P. Morgan Self-Directed Investing account.



Tradable Assets


At ZacksTrade, traders can buy and sell a large range of investments. The firm provides stocks, options, ETF’s, mutual funds, bonds, futures, crypto futures, options on futures, precious metals, warrants, contracts for difference, and forex.

J.P. Morgan Chase offers a much smaller range of assets. The broker-dealer doesn’t offer options, which is a major flaw. Also missing are warrants, contracts for difference, forex, precious metals, and futures. For some odd reason, J.P. Morgan Chase doesn’t offer margin accounts, which are available at ZacksTrade.

ZacksTrade clearly wins the first category.


Technology


ZacksTrade has a website portal where basic trading can be performed. There is also a browser platform that offers advanced orders with a fairly sophisticated order ticket. Where the company really shines is in its desktop software. The program delivers a professional-level trading experience with advanced charts and many tools.


Zacks Trade Platform


J.P. Morgan Chase customers get far less. There is no desktop platform of any kind. A browser platform is also missing. Traders can submit orders through the broker’s website, which is fairly simple. Charting on the site is also very elementary. There are a few order types on Chase’s platform besides market and limit, but ZacksTrade offers far more.


JPM


Another victory for ZacksTrade.


Mobile Trading


ZacksTrade clients get to use a mobile platform with a host of advanced features. One of these is a wheel order entry system that presents buy and sell buttons along with order size and bid and ask numbers in horizontal format. Other great features include advanced charting with technical studies and multiple chart styles, extended-hours trading, and complex order types.


ZacksTrade Mobile App Review


At J.P. Morgan Chase, traders do get a mobile app, but it doesn’t quite deliver the same punch that the ZacksTrade platform offers. For example, charts can’t be displayed horizontally. And charts themselves don’t have as many tools as ZacksTrade’s software provides. The trading ticket isn’t as advanced as the one we found on the ZacksTrade app. Nevertheless, the J.P. Morgan Chase app does have mobile check deposit, which is missing on ZacksTrade’s app.

Overall, ZacksTrade is the outperformer here.


Extended Hours


ZacksTrade customers can buy and sell US-listed stocks and ETF’s starting at 4 o’clock in the morning, which is five and a half hours before the opening bell. The company’s late-night session ends at 8 o’clock in the evening.

J.P. Morgan Chase does not offer a pre-market or an after-hours trading period; so obviously ZacksTrade wins this category.


Level II Data


ZacksTrade offers Level II data on its flagship desktop trading program. J.P. Morgan Chase customers do not have access to this service at any price.

ZacksTrade takes another victory.


Margin Policies


ZacksTrade charges some of the lowest margin rates in the financial industry. Right now, they range from 2.52% to 3.40%. Margin requirements for individual stocks are displayed on the company’s desktop platform, a very convenient service.

As already noted, J.P. Morgan Chase doesn’t offer margin accounts; so it obviously loses here.


Other Services


J.P. Morgan Chase offers Roth and Traditional IRA’s. ZacksTrade goes a little further by offering Inherited and SEP accounts as well.

J.P. Morgan Chase offers automatic mutual fund investing, but ZacksTrade does not. Both companies provide DRIP service at no charge.

Too close to call in this category.


Our Recommendations


If you’re a beginner, we recommend ZacksTrade with its website portal and browser platform. The brokerage firm has better learning materials on its website than J.P. Morgan Chase, and we think its customer service will also outperform its rival.

If you plan to primarily trade mutual or exchange-traded funds, go with J.P. Morgan Chase. The broker has better search tools for these products.

If you think you will actively trade equities, definitely go with ZacksTrade. The company’s desktop platform is outstanding.

If you plan to save for retirement, we can recommend either broker. And either one would be good for long-term investing.


Promotions


ZacksTrade: Get as low as 3.56% margin rate + $150 ACAT fee refund.

J.P. Morgan Chase: Get up to $625 when you fund a J.P. Morgan Self-Directed Investing account.



JP Morgan Chase vs Zackstrade - Results


ZacksTrade outperformed its rival in most areas. Nevertheless, J.P. Morgan Chase could be a good choice if you qualify for free trades.


Disclaimer


INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE


About the Author
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.