J.P. Morgan Chase Brokerage Rating

J.P. Morgan Chase Self Directed Brokerage Account Review for 2021

J.P. Morgan Investments Pricing and Minimum Deposit

Stocks and ETFs $0
Options $0.65 per contract
Mutual funds $0
Bonds $0
Treasuries commission-free
Futures not offered

Investments stocks, mutual funds, bonds, ETFs
J.P. Morgan Chase minimum deposit to open account $0 for cash account, margin accounts are not offered
FeesChase brokerage fees

J.P. Morgan Chase Brokerage Review

J.P. Morgan Chase is mostly known for its bank products; but the company also has a new entrant into the brokerage industry. With a rather bland name—J.P. Morgan Self-Directed Investing—the broker offers low commissions for self-directed traders. And with J.P. Morgan Automated Investing, the financial conglomerate provides managed account services. Let’s check it out.

J.P. Morgan Chase Pros

- Commission-free trading on most products.

- Good research and education.

- Multiple account types.

J.P. Morgan Chase Cons

- No margin accounts which makes it not competitive.

- Trading tools are underdeveloped.

- Many asset types aren’t available.

Cash Management Tools

J.P. Morgan Chase Cash Management Rating

With Chase Bank backing it up, you might think that J.P. Morgan Self-Directed Investing would offer some really good banking features. Well, as it turns out, neither J.P. Morgan Self-Directed Investing nor J.P. Morgan Automated Investing offers a debit card or checkwriting.

In our J.P. Morgan Chase trial account, we were able to move funds to and from an external deposit account using a very simple ACH transfer tool. Recurring deposits can be set up, which is a really nice feature. It’s also possible to link a Chase Bank account to a J.P. Morgan Chase brokerage account. Both investing and bank accounts are displayed inside Chase.com with a single login.

Range of Investments

J.P. Morgan Chase Investments Rating

JP Morgan brokerage offers trading in equities, option contracts, bonds, mutual funds, exchange-traded funds, closed-ended funds, penny stocks on major exchanges, and that’s it. Missing are currencies, cryptocurrencies, futures contracts, precious metals, contracts for difference, warrants, OTC stocks, and foreign stocks.

Commission Schedule and Fees

J.P. Morgan Chase Pricing Rating

Every new account with J.P. Morgan Chase comes with $0 commissions on stocks, mutual funds, and ETF’s. Options are $0.65 per contract.

J.P. Morgan Chase charges nothing for U.S. Treasury bills, notes, and bonds. For primary issues of corporate bonds, munis, brokered CD’s, and government agency debt, there is a markup/markdown, but no commissions. On the secondary market, it’s $1 per bond with a $10 minimum and $250 maximum.

J.P. Morgan Self-Directed Investing and J.P. Morgan Automated Investing both charge $75 to transfer an account or to close a retirement account. There are no annual fees at Self Directed account, but Automated Investing account has an annual management fee of 0.35% of the entire balance.

J.P. Morgan Automated Investing

J.P. Morgan Chase Automated Investing Rating

Investors who don’t trust their own financial judgment can turn their assets over to professional traders at J.P. Morgan Automated Investing. For just 0.35% per year and a $500 deposit, the service will buy and sell ETF’s from J.P. Morgan (only). Because there are no other fund families, we view this as a conflict of interest.

A software program rebalances Automated Investing as investments rise and fall in value.

There are no other management services available from J.P. Morgan Chase, such as financial planning or investment advice.

Portfolio Builder

J.P. Morgan Chase Portfolio Builder Rating

A middle ground between J.P. Morgan Automated Investing and J.P. Morgan Self-Directed Investing is Portfolio Builder, a service available to J.P. Morgan Self-Directed Investing customers. With at least a $2,500 deposit, investors can answer a few questions on the company’s digital platform and receive recommendations for an ETF portfolio.

Customer Service

J.P. Morgan Chase Brokerage Customer Rating

Next up is customer service, and things aren’t going to improve much here. Phone reps are available from 8:00 am, EST, till 9:00 pm. These hours are weekday hours. On Saturday, there is a shorter session from 9 till 5. The broker-dealer is closed on Sundays. J.P. Morgan Chase offers no brick-and-mortar offices.

On the website, there is no chat service (either human or robo). There is a messaging tool that lets account holders send e-mails to the broker. J.P. Morgan Chase assures a response within 24 business hours.

Chase offers social media sites where customers can reach out to the company.

Mutual Funds

J.P. Morgan Chase Brokerage Mutual Funds Rating

J.P. Morgan Chase offers customers a decent selection of mutual funds. During our evaluation, the broker’s screener returned 3,332 securities. While this is a rather small list, J.P. Morgan Chase only offers no-transaction-fee funds without loads. Funds that normally have loads are load-waived.

JP Morgan Chase Mutual Funds

The broker’s screener is able to search by many criteria, including fund family and turnover ratio. It does cost $20 at J.P. Morgan Chase to place a mutual fund order over the phone with a live rep.

Mutual fund profiles at J.P. Morgan Chase offer Morningstar ratings, equity style and interest rate sensitivity maps, a chart of the growth of $10,000, and basic fund facts. While there is a link to the fund family’s website, we didn’t find a fund prospectus; and this we consider a significant blunder.


J.P. Morgan Chase ETF Investing Rating

Moving from mutual to exchange-traded funds, we get another good screener. It is able to search by ETF sponsor, daily volume, expense ratio, and return history. There are more than 2,100 ETF’s in the U.S. marketplace, and we narrowed these down to just 22 by choosing “Japan stock” under fund category.

The list of results shows the prior closing price, net expense ratio, fund category, and Morningstar rating. There’s also a trade link in the right-hand column if you want to go directly to the trade ticket.

Profiles for ETF’s show option chains, performance in bar chart format, top 10 holdings, and trade data, such as bid-ask spread. Unfortunately, we didn’t find ETF commentary or report cards.

Account Types

J.P. Morgan Chase Investing Rating

To trade all these securities, you’ll need an account of course. You can only open a cash account. Margin accounts are not available—a major flaw of the J.P. Morgan Self-Directed Investing.

J.P. Morgan Chase has rolled out Individual Retirement Accounts. However, only Roth and traditional IRA’s are currently available. There are no 529 plans, solo 401(k)’s, or UTMA/UGMA accounts.

Website Trading

J.P. Morgan Chase Trading Rating

The J.P. Morgan Self-Directed Investing site offers some basic tools for self-directed trading. The site’s trade ticket can be produced by clicking on a trade button on a security’s profile. The ticket offers market, limit, stop, and stop limit order types. There are 5 duration choices: day, GTC, on-the-open, immediate or cancel, and on-the-close.

J.P. Morgan Chase Review

The charting system is mediocre at best. There are about 15 technical studies and no full-screen mode. On the positive side, there are comparisons and company events. Chase offers four graph styles and up to 30 years of price history.

JP Morgan Chase Investing Review

The website has a watchlist, but alerts are missing. There is no trade bar, and just forget about a browser platform.

Mobile Platform

J.P. Morgan Chase Brokerage App Rating

J.P. Morgan Chase clients who are on the move can use the company’s mobile app. Unfortunately, it’s worse than the website. There are no charting tools, and we couldn’t find any streaming video news. Instead of providing decent charting, Chase offers to convert a simple graph into numerical/table format. During our testing, we had difficulty with the symbol lookup tool. The platform’s order ticket offers the same features as the website’s order ticket.

JP Morgan Chase Trade App

Because J.P. Morgan Chase customers use the Chase bank app, there are several useful features. For example, mobile check deposit is integrated. Chase rewards points are shown, and bonuses for using a Chase credit card are displayed. On the day we did our investigation, we found a 10% cash back offer for using a Chase credit card at McDonald’s.

Other Tools

J.P. Morgan Chase Brokerage Tools Rating

J.P. Morgan Chase does not have a desktop platform, a major flaw that will send day traders and other demanding traders to the doors. Also missing is a platform for smartwatches. And we couldn’t find a skill for Amazon Echo or an app for Apple TV.

Security Research and Investment Learning

J.P. Morgan Chase Investment Research Rating

J.P. Morgan Chase improves in this category. During our exploration, we found a lot of good learning materials on the broker’s trading platforms. On the mobile app, we found pdf reports on stocks from JPMorgan. These provide price targets, trade recommendations, and valuation explanations.

JP Morgan Chase Brokerage Learning

The day’s most active stocks are shown on both the website and mobile app; and the day’s big losers and gainers are displayed as well. Index and headlines news from Comtex are displayed. Bond yields are listed, and there are some videos and articles shown. On the day we did our fact-finding, we could not get a video to play on the app, but we were able to get the same video to play on the website.

Speaking of the website, we found an Investing 101 section with several educational articles and videos. Topics range from corporate earnings, to dollar cost averaging, to rebalancing a portfolio.

Trading in Options

J.P. Morgan Chase Options Rating

Both the J.P. Morgan Chase website and mobile app finally provide options trading. However, only calls and puts are presented. There are no multi-leg strategies available. Moreover, there are absolutely zero option tools on either platform. We did find it easy to create a derivative order by tapping or clicking on a bid or ask price on a call or put.

Other Services

J.P. Morgan Chase Services Rating

J.P. Morgan Chase offers its customers free recurring deposits into mutual funds. Also on tap is a free DRIP service to convert cash dividends into additional shares of the stocks and ETF’s that pay them.

J.P. Morgan Chase does not provide many services that day traders would need, stuff like direct-access routing, Level II quotes, time & sales data, a short locate tool, or an actual platform to trades stocks on.

Chase Brokerage Comparison

J.P. Morgan Chase Brokerage Comparison

When we look at other brokerage firms in the industry, both J.P. Morgan Self-Directed Investing and J.P. Morgan Automated Investing underperform (by quite a bit). Schwab, for example, offers a robo program with no less than 8 fund families. Fidelity requires no minimum deposit, and M1 Finance portfolio management is free.

For the self-directed traders out there, most brokerage firms have switched to $0 commissions. Firstrade and Webull both offer free trading on stocks, ETF’s, and options for all customers.

Many brokerage firms today have browser platforms and/or trade bars on their websites. Some examples include TD Ameritrade, tastyworks, and TradeStation. Companies that have desktop platforms (on either a free or paid basis) include Webull, Merrill Edge, and Fidelity.

Most brokerage firms offer more investment vehicles than J.P. Morgan Chase offers. Traders at Interactive Brokers, Fidelity, and TD Ameritrade get products like precious metals, forex, futures, and global stocks.

J.P. Morgan Chase’s poor showing in the banking category (despite its affiliation with Chase) puts it behind Merrill Edge and Firstrade, both of whom offer debit cards and checkwriting.


We can recommend J.P. Morgan Self-Directed Investing to those Chase Bank customers who plan to trade only stocks and funds. We can’t recommend the broker for options traders because there simply aren’t any derivative tools.

Although J.P. Morgan Chase does have a good selection of learning materials, there are better firms out there for beginner investors. Fidelity, for example, has better educational resources plus 24/7 customer support, robo chat, and branch locations.

For mutual fund investors, we have to go with Firstrade. The brokerage house offers more funds plus much better fund resources.

For active equity traders, we have to suggest WeBull over J.P. Morgan Chase. The former has both a browser platform and a desktop program, both of which deliver a much more sophisticated trading experience than anything J.P. Morgan Chase can offer.

For long-term investors and retirement savers, we have to propose TD Ameritrade. The breakage arm of this financial powerhouse offers more IRA types, a larger selection of mutual funds, plus ongoing $0 equity commissions.

JP Morgan Chase Brokerage Review Recap

JP Morgan Chase is one of the largest banks in the world, and the largest in the United States. So why does it have such a shabby discount brokerage firm? We don’t know the answer to this question; but we do know that J.P. Morgan Chase has a lot of work to do if it wants to compete with other brokers.

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