Chase Brokerage Review
Chase Bank provides a brokerage service called J.P. Morgan Investing that aims to compete
with other brokers by offering low-cost options. Sometimes J.P. Morgan Investing succeeds,
other times it doesn’t. Here’s what you need to know:
JPM Investing Pricing and Minimum Deposit
| Investments | Commissions |
|---|
| Stocks and ETFs | $0 |
| Options | $0.65 per contract |
| Mutual funds | $0 |
| U.S. treasury bills, notes and bonds | $0 |
|
New Issues (corporate bonds, municipal bonds, government agency bonds,
brokered CDS)
|
$0 |
|
Secondary Markets (corporate bonds, municipal bonds, government agency bonds, brokered CDS)
|
$10.00 / Trade + $1.00 / Bond Over
10 Bonds ($250 Maximum)
|
| Investments | stocks, mutual funds, options, bonds, ETFs |
| J.P. Morgan Chase minimum deposit to open account | $0 for cash account, $2,000 for margin accounts |
| Fees | Chase brokerage fees |
Bulls Rave About
Zero commissions. It’s not limited to stocks and ETFs; all mutual funds
carry no transaction fees.
Account linking. You only need a single login.
Bears Rave About
Lack of cash management tools. This is surprising, given the broker’s relationship with the J.P. Morgan group.
No robo option. The robo-advisor program was canceled.
Basic software. It could really use an update.
Chase Brokerage Investmentss
Chase brokerage accounts have no minimum deposit requirement and charge no base fees. They also provide
a variety of investment products. Besides ETFs, there are mutual funds, stocks, options, and bonds.
Most trades in a Chase brokerage account are commission-free, but there are exceptions. Option trades
cost 65 cents per contract, and some secondary-market bonds cost $1 per bond with a $10 minimum fee.
All mutual funds on J.P. Morgan Investing come with no loads and no transaction fees.
Neither of the account setups carries annual charges. You can open a joint or individual account in
either management option.
J.P. Morgan Investing doesn’t support annuities, futures, forex, cryptocurrencies, or overseas
investments. Some account types, like trusts and custodial accounts, are missing as well.
Retirement Choices
Beyond taxable accounts, J.P. Morgan Investing has Individual Retirement Accounts, but only two kinds:
Roth and traditional. There aren’t any small-business plans like SEP or SIMPLE IRAs, and there are no
minor or inherited IRAs available.
Clients can select target-date mutual funds from various families, such as Fidelity and T. Rowe Price.
On the mutual fund screener page, a tile is dedicated to target-date funds. While testing it, we found
202 of these funds listed.
J.P. Morgan Investing charges $75 to close an IRA.
Margin Borrowing
J.P. Morgan Investing does offer margin accounts. Their interest rates are in tiers:
|
Debit Balance
|
JP Morgan Margin Rates
|
|
$0.01 - $4,999
|
12.25%
|
|
$5,000 - $9,999
|
12.25%
|
|
$10,000 - $24,999
|
12.25%
|
|
$25,000 - $49,999
|
12%
|
|
$50,000 - $99,999
|
11.5%
|
|
$100,000 - $499,999
|
11.25%
|
|
$500,000 - $999,999
|
10.5%
|
|
$1,000,001 - $3,000,000
|
10%
|
Banking Tools
A surprising weak spot for J.P. Morgan Investing lies in cash management, despite the firm’s well-known
banking background. A J.P. Morgan Investing account doesn’t include any cash features like checkwriting
or debit cards, putting it behind much of the competition.
The J.P. Morgan Investing site (the same one Chase Bank uses) has an ACH tool that supports recurring
transfers—a small bright spot here.
Because Chase Bank and J.P. Morgan Investing are linked, a checking or savings account at Chase will
automatically appear on the same site. This is convenient, but Chase’s deposit accounts aren’t as strong
as many brokerage cash products. Chase Bank’s deposit accounts have fees, whereas many brokerages have
done away with most banking charges.
Website
The website is straightforward to navigate, though it lacks advanced trading tools.
Under the Accounts tab, you can see all your relationships with Chase, like bank accounts, credit cards,
and brokerage. Details such as credit card reward points and the company’s latest COVID updates appear
here.
The Investments tab hosts all brokerage features. Clicking it shows a drop-down with lots of choices.
Under the Trade category, you’ll find order tickets.
Equity orders have just four types (market, limit, stop, stop limit). Limit orders come with five time-in-force
selections, including open or close options.
Charts on the J.P. Morgan site are basic. A profile chart for a stock or fund has just one style (line)
and no tools. It can show up to 30 years of price history, though.
By clicking the expand icon on a chart, you go to a page with extra widgets, such as around 50 technical
studies, roughly 10 drawing tools, and 8 plot styles (dot being the odd one out).
The website has a watchlist feature, but no alert system.
Mobile App
Similar to its website, J.P. Morgan Investing uses the regular Chase mobile app. This makes it simple to
handle multiple Chase accounts with a single sign-in. Apple users can log in with Touch ID.
Once you’re in the app, there’s a personal side and a business side. Business accounts go under Business,
and personal accounts (including J.P. Morgan Investing) are on the Personal side.
On the Personal side, there are helpful functions like Zelle (for bank accounts only) and mobile check
deposit (also only for Chase bank accounts).
For investing, the order ticket is the same as the one on the website, with identical time-in-force
settings and order types. Asset profiles match the website, too, with the same details and layout.
You can’t rotate a chart sideways, which is a noticeable flaw. But you can still use a handful of charting
tools on the app.
The watchlist from the website syncs with the app, showing the same symbols. You can edit the watchlist
on your phone and adjust how it displays.
Other Software
J.P. Morgan Investing does not provide a desktop trading platform or a smartwatch app
(including for Chase Bank customers). There is no browser-based advanced platform, either.
Options Trading
Calls and puts can be traded on both the website and mobile app, but multi-leg strategies
aren’t supported. You can only place single-leg orders, and there are no advanced options tools like
profit-loss graphs or Greek values.
On the website, select the Investments tab in the main menu, then pick Options under Trade. Enter the
ticker symbol and choose to buy to open or sell to open. You can also load option chains on a security’s
profile page, then click a bid, ask, or mid price for trading.
On the mobile app, there’s no Investments tab, so you’ll follow the second approach. Tapping replaces
clicking, but the sequence is similar.
Chase Brokerage Commissions and Fees
Every new J.P. Morgan Chase account includes zero commissions on stocks, ETFs, and mutual funds. Options
cost $0.65 per contract.
JP Morgan Chase charges no commissions on Treasuries. For new-issue corporate bonds, munis, brokered CDs,
and agency debt, there’s a markup or markdown, but no extra commission. On the secondary market, the fee
is $1 per bond, with a $10 minimum and $250 maximum.
JP Morgan charges $75 to transfer out an account or close an IRA. There are no annual charges.
Customer Support
Chase brokerage clients can call for help on weekdays between 8:00 am and 9:00 pm EST at (800) 392-5749.
While there are branch offices for J.P. Morgan Wealth Management, they don’t actually handle J.P. Morgan
Investing accounts. They might give some general guidance, but that’s about it.
On the J.P. Morgan Investing site, there’s an internal messaging system, also on the app, which allows
24/7 inquiries. There’s no live chat, though.
Mutual and Exchange Traded Funds
On both the site and app, J.P. Morgan Investing has search tools for mutual funds and ETFs. You can
filter by items like:
- Morningstar style boxes and ratings
- Fees and management
- Return history
- 30-day SEC yield
- Fund family
- Socially-responsible fund
It’s simple to look through the results, which can be sorted by the original filters or other default
fields like net expense ratio and category.
Profiles for the funds offer decent detail. Mutual fund profiles show graphs that can switch between
NAV performance and what $10,000 would be worth over time.
Morningstar style boxes and ratings are displayed, though we didn’t see ratings from Lipper or other
agencies. We also didn’t find research reports.
Return data is visible in bar-chart format, with both normal and load-adjusted returns. Other stats like
expense ratio and distribution yield are listed.
A fund’s portfolio breakdown appears in a pie chart with details on geography and top 10 holdings.
Customers can choose from 3,043 mutual funds, all with no transaction fee and no load.
Research and Education
While asset profiles lack some depth, J.P. Morgan Investing places noticeable emphasis on learning
materials. Both the website and mobile app feature articles and news covering a broad range of topics.
These resources appear on the website in the Research link under Investments, and on the app via a
Research tab near the Portfolio tab.
Some examples of articles we came across include:
- What can investors do about rising inflation?
- The Fed has spoken – but what did investors hear?
- A recession in the near term is possible, but not likely. Here’s why.
- How to think about market volatility
- Is it better for married couples to file taxes jointly or separately?
There are also videos (with transcripts) on retirement, ways to avoid fraud, and more basic ideas like
diversification, IRAs, 401(k)s, and how the stock market works.
You can sign up for several e-newsletters, all easily managed on a single enrollment page.
Miscellaneous Services
Fractional Shares: Except for mutual funds, only whole shares can be traded.
DRIP Availability: Free dividend reinvesting is offered.
Initial Public Offerings: J.P. Morgan Investing does not provide IPO access.
Extended Hours Trading: Regular market hours are the only option.
Periodic Mutual Fund Investing: You can set up recurring mutual fund buys automatically.
Our Recommendations
Long-Term Investors and Retirement Savers: While J.P. Morgan Investing has good target-date
mutual funds, it only provides two IRA types. We suggest
Charles Schwab,
which covers far more.
Beginning Investors: We believe there are better options, such as
Robinhood.
Small Accounts: J.P. Morgan Investing appeals here because of the absence of fees.
Mutual Funds: With around 3,000 funds, Chase lags behind
Firstrade, which has more than
11,000, all no-load and no-transaction-fee.
Active ETF and Stock Trading: Without a proper trading platform, J.P. Morgan Investing isn’t ideal.
Webull is superior, thanks to its
advanced desktop software, fractional trading, and zero-fee option trades.
JP Morgan Chase Brokerage Review Recap
J.P. Morgan Investing has done a good job offering low-cost accounts, but we expect more from such
a big organization. It’s still outdone in many ways by smaller companies.
Updated on 3/17/2025.
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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