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In-Depth Analysis

J.P. Morgan Self-Directed Investing Review

Julija A. Image
ByJulija A.
November 15, 2021
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If you are looking for a low-cost stock market trading platform that is simple and mobile-friendly, you don’t need to look any further. Existing Chase Bank customers and new investors can open the J.P. Morgan Self-Directed Investing account (formerly known as Chase You Invest) and trade several investment products, including stocks, options, and mutual funds.

Hundreds of client’s reviews are satisfied with this Chase brokerage account, complimenting the account’s seamless integration with other Chase accounts, the quick and easily reachable customer support, and, especially, the low trading fees. 

Let’s take a close look at this Chase investment account and see what all the hype is about.

Account management fee:
$0

$0 trading fees for stocks, ETFs, mutual funds, and options

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Fortunly Rating

Account minimum:
$0 to open an account
Deposit minimum:
$0
Account management fee:
$0
Trading fees:
$0 for stocks, ETFs, mutual funds, and options
Options contract fee:
$0.65
Brokerage account transfers:
$75
Bank BBB Rating:
A-
Mobile App:
Yes
pros thumb up Strengths
  • No minimum deposit to open an account
  • Intuitive mobile app
  • Commission-free trading with options, stocks, and ETFs
  • Quick integration with existing Chase accounts
  • Offers both traditional IRA and Roth IRA accounts
pros thumb up Weaknesses
  • Doesn’t have advanced trading features
  • Doesn’t support foreign currencies, futures, and cryptocurrencies

Overview 

Chase self-directed brokerage account is a trading account that enables you access to the Chase Bank stock market trading platform. If you open this account, you will be able to buy, sell, and trade securities like options, ETFs, stocks, and mutual funds. The account is designed for the existing Chase clients as it allows quick and painless integration with other Chase accounts. 

This Chase brokerage account is a part of J.P. Morgan Securities, an investment management company owned and operated by J.P. Morgan Chase & Co. Services offered by this company also include brokerage solutions. The J.P. Morgan trading platform was launched in 2018. It allows trading with two types of brokerage accounts Self-Directed Investing account (formerly known as Chase You Invest) and Automated Investing (formerly known as You Invest Portfolios). 

The Self-Directed Investing account works as an online brokerage, while Automated Investing is a robo-advisor account. Our review will focus on Self-Directed Investing and highlight the trading convenience that you get with this account.

Before we started our research, we checked how active investors evaluated the Self-Directed Investing account. The first thing worth mentioning is that many of them are satisfied with free mutual funds trading, which is a somewhat unique advantage that the broker offers compared to other similar platforms. Secondly, both experienced and first-time investors praised Chase Bank’s customer support for its accuracy and availability. This J.P. Morgan brokerage account is, after all, backed by one of the most iconic banks in America, so you know that your account is in good hands.

How does J.P. Morgan Self-Directed Investing compare to other accounts?

J.P. Morgan Self-Directed Investing Logo
J.P. Morgan Self-Directed Investing
Broker-Assisted Trades Fee:

$20-25

Stock Trade Fee (per trade):

$0

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Vanguard Logo
Vanguard
Broker-Assisted Trades Fee:

$20

Stock Trade Fee (per trade):

$0

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Fidelity Logo
Fidelity
Broker-Assisted Trades Fee:

$32.95

Stock Trade Fee (per trade):

$0

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Self-Directed Brokerage Account 

Self-Directed Investing is an account offered by J.P. Morgan to trade on the J.P. Morgan online trading platforms. It’s a commission-free trading platform with the following investment products: 

  • Stocks
  • ETFs
  • Options
  • Mutual Funds and Fixed Income

Though the list of securities you can buy, sell, and trade is limited, Self-Directed Investing offers great benefits to its customers, both existing and new ones. The lack of other trading products, like foreign currencies, cryptocurrencies, and futures, is compensated by offering an intuitive, commission-free platform and excellent customer support. 

Chase Brokerage Account Fees 

Like many trading platforms today, the Chase trading brokerage doesn’t charge commission fees on stocks, options ETFs, and mutual funds. It means that you can buy and sell available securities without worrying if the brokerage will take a share of the money from you. 

Although the platform offers commission-free trading, there are a few other costs that you need to watch for, especially if you want help from Chase agents. The platform charges $0.65 per contract on options trading and another $25 per trade for assistance from J.P. Morgan’s representatives. The bank will charge you $25 per representative-assisted trade for stocks and exchange-traded funds and $20 per trade for assisted mutual funds. In addition to the Chase brokerage account fee, you will also have to pay $75 to transfer funds to a non-Chase account or close the Self-Directed Investing account. Overall, fees are generally lower than those found with most competitors, which is always a plus.

How to Open a Self-Directed Investing Account

Once you arrive at the Chase investments website page, you’ll be offered to choose between two types of personal investment accounts - Self-Directed Investing and Automated Investing. The first choice you have to make is whether you want to trade on your own or use robo-advisor services. In our review, we will focus on the Self-Directed Investing account that offers three Chase investment banking options  to choose from: 

  • General investment
  • Traditional IRA
  • Roth IRA

The difference between traditional and Roth IRA options is thoroughly explained on the Chase website, but you can also contact customer service and get more details for each of them. The general investment account option is the most flexible, meaning that you will be able to withdraw your earnings at any time.

When starting with Self-Directed Investing, you’ll also need to decide whether you want a joint or a personal account. Also, if you already have a Chase account, you will need to log in to continue the application procedure. 

The good thing to know is that you can open this Chase trading account without depositing any money. Furthermore, there is no minimum account balance either. 

Continuing with the application process, the bank will ask you to provide standard personal information like your name, home address, and Social Security Number. Then, you will be required to read some documents and confirm that you accept the bank’s terms. Additionally, you will be asked to add beneficiaries, but only if you’re applying for a Chase Roth IRA or a traditional IRA account. The final step is to sign in some documents online and decide how to fund the account. 

If you already have a Chase checking account, you can connect it to the brokerage account and transfer funds instantly. In our Chase investment account review, we mentioned that the Self-Directed Investing account is good for Chase clients because it’s easy to connect all accounts through one online dashboard. This doesn’t mean that Self-Directed Investing is not suitable for other consumers. On the contrary, the excellent online platform allows you to very quickly add an external bank account and transfer funds from it. It’s also up to you to choose whether you want one-time funding or to set up regular money transfers.

Once the application procedure is completed, you can access the trading platform through the online dashboard or the Chase mobile app. 

Chase Investment Services - Tools and Features 

Different tools support your J.P. Morgan Chase investments for easier trading. Here are some of them:

Portfolio Builder 

Once you create the account and transfer funds, you can immediately start trading. You will get access to a trading market so you can choose what you want to exchange. If you are a first-time investor, you will need help in the beginning. Since the stock market can seem a bit confusing for new traders, J.P. Morgan offers its clients the Portfolio Builder. 

Portfolio Builder is a convenient tool to help you determine your risk tolerance and set up your investment goals. Note that this is not the same service as the Chase managed brokerage account. If you want to use this tool, you’ll need an account balance of at least $2,500. You will not get advice from J.P. Morgan Chase on what to sell or buy, but the tool will help you create your trader portfolio, manage asset allocation and place trades by yourself.

Excellent Dashboard

One of the best things regarding the J.P. Morgan investment account is its smooth and quick integration with any other checking accounts that you may have. During the application process, your current account information will automatically be pulled to complete the Self-Directed Investing account approval. The easy integration of the Chase brokerage and other accounts that you might have at Chase is possible thanks to the highly intuitive and well-designed online dashboard.

Chase Mobile App

With Chase’s mobile app, you will be able to trade your securities whenever you want, from any place you want. The mobile app enables quick access to your Chase accounts from both Android and iOS devices. It is simple to download and use, allowing you to add the brokerage account with one simple click. 

Chase’s mobile app got the highest score in the J.D. Power roundup for 2020. It was rated the best wealth management tool in the Wealth Management Mobile App Satisfaction Study, earning 877 points. 

Automated Investing 

In addition to Self-Directed Investing, the bank offers an Automated Investing account that works like a robo-advisor. This Chase brokerage account will review your profile, look at your investment goals, and match you with the portfolio that fits your individual needs. 

Education Tools and Research Analysis 

The good thing for beginners is that you can rely on J.P. Morgan’s free support for education and research analysis. You can subscribe to a newsletter to receive investment news and get information about investment trends. 

The mobile app can be used to discover different investment products - stocks, ETFs, and mutual funds. This way, you can make better investment decisions and trade products that fit your goals. 

Customer Support

Should you have any questions regarding Chase banking investments, the bank’s support is there for you. The agents are well-known for providing accurate information on time. You can speak with an agent via phone or email during business days from 8 a.m. to 9 p.m and Saturday from 9 a.m. to 5 p.m. For those who prefer face-to-face meetings, you can visit one of the bank’s numerous branches across the country. 

On the Chase Bank website, you can find lots of articles, documents, and guides to help you understand finance, choose the account that’s good for you, or create your retirement plan. The bank offers personal support to clients who want to learn about banking and managing their finances. 

Chase investments services also include support from a Chase financial advisor. If you are a Chase client, you can get your personal advisor to help you create the best investment strategy for your financial situation. You will communicate with your advisor frequently to discuss your financial goals and see how to update your portfolio based on market changes and your priorities. 

Bottom line

In our opinion, J.P. Morgan Self-Directed Investing is the best investment platform for existing Chase customers. If you already have a checking account or a Chase IRA account, opening this one will be a breeze. The bank’s effective online dashboard enables clients to connect all accounts effortlessly.  

We compared Self-Directed Investing (formerly known as Chase you Invest) vs Robinhood. Our impression is that the trading platforms are designed for different types of investors. Robinhood’s poor customer support and lack of educational materials imply that this platform is for more experienced investors. On the other hand, the Chase trading platform offers limited investment products and research tools, so it is definitely more suitable for new investors.

Overall, Chase’s Self-Directed Investing offers an excellent option for investors, with no fees on several services that competitors usually charge users for. It’s best suited for existing Chase customers, but even new customers will find its low-cost services appealing.

FAQ

Is investing with Chase good?

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We think that investing with Chase is always a good choice. J.P. Morgan Chase is one of the oldest financial institutions in the U.S., with over $3.68 trillion worth of assets. There are a few Chase banking complaints floating around, but most clients are satisfied with their Chase bank investments.

What is a You Invest account with Chase?

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Self-Directed Investing (formerly called the You Invest account) is an account that enables you to trade on the Chase trading platform. You can buy, sell, and trade stocks, ETFs, mutual funds, and options.

Does Chase offer free trades?

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Yes, Chase mostly offers fee-free trading, though you’ll need to pay fees if you want professional assistance from Chase representatives. Moreover, the bank’s clients don’t need to meet any deposit limit to open the Self-Directed Investing account.