Chase Brokerage Rating

JP Morgan Chase Brokerage Investment Account Review (Online Stock Trading) for 2018


JP Morgan Chase Investments Pricing and Minimum Deposit


InvestmentsCommissions
Stocks and ETFs $2.95 ($100 trades at $0 commission for 1 year for anyone opening and funding a You Invest Trade account)
Options not offered
Mutual funds $0
Bonds $1 per bond with $10 minimum, $250 maximum
Treasuries commission-free
Futures not offered

Investments stocks, mutual funds, bonds, ETFs
Chase You Invest Trade minimum deposit to open account $0 for cash account, margin accounts are not offered
FeesChase brokerage fees


JP Morgan Chase Brokerage Account


If you’ve been using JP Morgan Chase for your banking needs, you should check out the financial conglomerate’s new online discount broker. Called You Invest Trade (member of SIPC), this new ultra-low-cost firm offers free trades, managed and self-directed brokerage accounts, IRA’s, and more. Let’s check it out.


Chase Investment Choices


Chase Brokerage Securities Rating

To start our investigation, let’s take a look at what assets can be traded at JP Morgan Chase’s brokerage firm. You Invest Trade offers stocks, bonds, ETF’s, and mutual funds. Unfortunately, options are not available at this time, and this absence will turn many traders away.

We also discovered that Chase You Invest Trade does not offer margin accounts yet. This is another significant blunder that will cost the new broker customers. You Invest Trade is a new firm, and we expect Chase to add more features in the future.

More esoteric products like futures and forex are also off the list right now. Chase is obviously starting out small and will probably test out the demand for its service before adding new financial instruments.


Chase Investments Commissions, Fees and Account Requirements


Chase Brokerage Fees Rating

Although You Invest Trade didn’t do well in the first category, it’s going to hit a home run here. Chase is offering free trades to everyone who opens an account with its new broker-dealer. Specifically, you get 100 trades for the first year. These can be applied to any US-listed stock or ETF. After the first year, the commission increases to $2.95, which is pretty low by industry standards.

Chase customers who have a Premier Plus Checking account get 100 free trades every year. This bank account has a $25 monthly fee, which can be avoided by keeping $15,000 in the account or using it to auto-pay a Chase mortgage. The Premier Plus Checking account pays interest, but the APR is very low.

Other Chase customers get free trades perpetually. These are Sapphire and Private Banking customers, and JPMorgan Securities clients. The Sapphire account charges a $25 fee, like the Premier Plus account, but requires $75,000 in assets to waive the charge.

Mutual funds at You Invest Trade have zero transaction fee when traded online. There is a $20 surcharge if you buy or sell a mutual fund with a live rep over the phone. For stocks and ETF’s, this fee is $25.

As you see, the pricing at Chase brokerage account is very low, but Firstrade goes even lower by offering free trades with no conditions or requirements.

Chase charges $75 for ACAT transfers. This fee is also assessed against partial transfers of any size.

Statements at Chase You Invest Trade are in electronic format by default. The company charges $6 per hard copy version.

A Chase You Invest Trade account comes with zero fees. There is no annual fee, no inactivity charges, and no low-balance costs. An account can be opened with zero deposit, and the online application is quick and easy.


JP Morgan Chase Trading Account


IRAs


Chase Brokerage IRA Rating

Chase You Invest Trade offers Roth and Traditional IRA’s. Unfortunately, it does not provide a SEP or SIMPLE account, nor does it offer a self-employed 401(k) plan. A retirement plan with a former employer can be rolled over into a Chase IRA.

When we logged into our test account, we found a planning section that hosts several articles on retirement saving strategies. These provide several tips and suggestions to make the journey into retirement a little easier. For example, one topic discusses catch-up contributions.

We did not find any IRA calculators or videos in our You Invest Trade account, and this lapse will subtract another star in this category.


JP Morgan Chase IRA


Chase Trading Platform


Chase Trading Platform Rating

After logging into our account, we immediately noticed the lack of trading resources for You Invest Trade customers. There is no trade bar for quick buying and selling of securities. There is also no browser-based platform on the Chase's brokerage site. At this point, you probably have already guessed that there isn’t a desktop program, either.

All trading at You Invest Trade takes place on the Chase website. Brokerage accounts are shown along with bank accounts. The trading side is pretty simple at this point. This does mean that trading is fairly straightforward. Beginning investors may find this environment a little easier to handle.


Chase Online Trading Platform


The Chase's website trading ticket offers just four order types: market, limit, stop, and stop limit. A quantity field will tell you if you have enough cash in your account, a helpful feature. Time-in-force options include day, GTC, on the open or close, and immediate or cancel. The order ticket shows updated information on bid and ask prices and sizes. There is also balance information and an estimated order value.

The trading ticket changes somewhat when moving from ETF’s and stocks to mutual funds. Available actions here include buy, sell, sell all, exchange, and exchange all. Most recent NAV is shown instead of bid and ask figures.

The Chase's bond trading form actually starts with a search tool. This will be discussed in the security research section below. After finding a fixed-income product, you just need to click on the ‘Trade’ button, which will generate a fixed-income trading ticket.

Charting on the Chase trading platform is essentially non-existent. There is a small graph on a stock’s profile page. It shows just 1-day, 3-month, and 1-year return histories. The chart cannot be expanded full-screen or even half-screen. Comparisons, indicators, and company events aren’t possible. A chart can be turned into a daily price history, which is the only positive feature graphing has.

We did like the ability to create a watch list. In fact, multiple lists can be created. Mutual funds can be added in addition to stocks and ETF’s. The watch lists show the most recent price and the day’s and past year’s price ranges.


Mobile App


Chase Brokerage App Rating

Just as the You Invest Trade website is integrated into the Chase site, likewise You Invest Trade’s mobile app is simply the Chase app. After logging into a brokerage account, investment information is presented instead of banking tools. We were disappointed in the lack of features here. There is no streaming financial news, for example. We also couldn’t find mobile check deposit or a charting feature.


JP Morgan Chase Trade App


Security information is shown in a similar format that the website uses. It’s the same information as well. Watchlists synch across the website and mobile platform. The same small graph is shown with the same timeframes, for example.

There is a trading ticket for stocks, ETF’s, and mutual funds. Although the website allows for the trading of fixed-income products, we couldn’t find this ability on the mobile system.


Mutual Funds


Chase Brokerage Mutual Funds Rating

Using the You Invest Trade mutual fund screener, we found 2,614 mutual funds. All of these are no-load funds. This produces a decent list of low-cost funds, but the overall list is still under 2,700, pretty small by industry standards.

The screener can search by Morningstar rating, fund family, expense ratio, return history, dividend frequency, and several other characteristics. It’s also possible to search for socially-conscious investments.


Chase Bank Mutual Funds


A fund’s profile page does show some good information. This includes Morningstar ratings, including an interest rate sensitivity map. Top ten holdings are shown, along with a turnover ratio, 30-day yield, and manager tenure.

We also liked the performance history that is shown in bar format. Portfolio composition is shown in pie chart format.


Customer Service


Chase Brokerage Customer Rating

A Chase You Invest Trade associate can be reached anytime from 8:00 in the morning until 9:00 in the evening, EST, Monday through Friday. The brokerage firm also hosts a 9-5 session on Saturday, but is closed all day on Sunday. During a recent test call, it took 6 minutes for us to reach an agent. We were required to go through several layers of security questions to get to the Q&A session, which seemed rather excessive.

We did not find a robo or human chat function on the You Invest Trade website. Although there are thousands of Chase Bank branch locations, there are no You Invest Trade locations as of yet.

One nice feature we liked was the incorporation of an internal messaging feature within our account. It was quick and easy to send an e-mail to customer service, and Chase promises a response in one business day.

You Invest Trade is integrated with the Chase family of companies, and some services that are available to brokerage clients are the same services that are available to banking customers. These include the Chase Twitter page and a feedback section on the Chase website.


Cash Management Features


Chase Brokerage Cash Management Rating

Chase You Invest Trade itself does not offer any type of cash management features. However, the You Invest Trade site is part of the Chase.com site, and a brokerage account can easily be linked to a Chase bank account. Funds transfers between a You Invest Trade account and a Chase deposit account occur simultaneously; so it’s easy to get necessary funds to a securities account quickly. Chase offers checks and debit cards with its many checking account options. Savings accounts are also available.

The Sapphire Checking Account mentioned above comes with unlimited ATM fee rebates around the globe plus zero forex surcharges. The fee structure is rather pricey, though.


Investment Advice


You Invest Trade plans to roll out portfolio management in early 2019. At this time, we don’t know exactly what the broker will offer here. One has to expect it will be a robo service since the brokerage firm is in the low-cost category.


Portfolio Builder


Chase Portfolio Builder Rating

You Invest Trade offers a free service called Portfolio Builder. It does require a $5,000 minimum balance. The way it works is that you answer a few online questions about risk tolerance, goals, and time horizon; then the software program helps you to pick out securities (stocks and ETF’s in this case) to fit within your parameters. This is a decent replacement for a robo-advisory service until the broker launches it.


Chase Investment Account


Investment Education & Research


Chase Bank Investing Rating

The tools on the You Invest Trade site for security education and research are rather limited. There is a bond screener (strange that they have it not in the research section but in the trade section). It is able to look for corporate or government debt. Criteria include maturity date, coupon rate, yield to worst, and price. CD’s are also searchable.

The Chase brokerage’s stock and ETF screeners are able to sort through all available US-listed securities by a lot of different filters.

We also found market news, which basically means U.S. stock market indexes and news articles. Currency and bond rates are also shown. It’s possible to search for news about a specific stock by entering a ticker symbol.

An ‘Investing 101’ section presents several articles on trading basics, such as diversification, risk tolerance, and differences between ETF’s and mutual funds.

We did find option chains on the Chase's You Invest Trade site, which may be a sign that the broker-dealer has plans for them in the near future.


Comparison


JP Morgan Chase’s low-cost brokerage firm offers a lower commission than Schwab and Fidelity (both of whom are at $4.95), but delivers far fewer services than those two giants. On the other hand, Firstrade and M1 Finance customers get free trades permanently with no minimums.

SogoTrade offers options at a low cost, along with several other brokerage firms. Sogo also offers good derivative trading tools, which You Invest Trade lacks.

Chase’s trading tools are dreadful to put it mildly. Most online discount brokers offer better technology. A few examples include Ally Invest and Merrill Edge.

While You Invest Trade offers a good selection of no-load, no-transaction-fee funds, we found larger selections at Schwab and TD Ameritrade.

There are many good articles on the You Invest Trade site. This gives Chase an edge over WellsTrade, but it still underperforms the educational section of TD Ameritrade.


Recommendation


We recommend JP Morgan Chase You Invest self-directed brokerage account for budget-conscious traders who need the lowest commissions and can sacrifice trading tools, customer service, and derivatives. Frequent traders, however, can find better resources elsewhere. We also cannot suggest the brokerage firm for mutual fund investors, due to lack of tools and a small total list of funds.


JP Morgan Chase Brokerage Review Recap


Chase bank investments account has made a debut in the world of low-cost online securities trading. Because Chase's You Invest Trade is a new enterprise, we expect many more announcements and improvements. As of right now, the new JP Morgan's brokerage firm has a lot of work to do.


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Chase Brokerage Account reviewed by Brokerage-Review.com on . Rating: 2.5