One of the newer players in the online broker arena is You Invest℠ by J.P. Morgan, which offers an app-based stock trading platform as well as a robo-advisory service. Its competitive commissions, low account minimums, and integration with Chase banking products are standout perks. Find out if this broker is a fit for you with our You Invest℠ by J.P. Morgan review.
$0 per trade
This broker is a good fit for: Investors wanting the versatility of a traditional brokerage account and robo-advsior in one. Existing Chase customers can also more easily manage their varying money needs under one roof.
You Invest℠ by J.P. Morgan has no minimum balance requirement for a trading account. You can start investing for the price of a single share of whatever stock or ETF you want to buy. However, the You Invest℠ Portfolios robo-advisory service has a $500 minimum initial deposit requirement.
Most brokers, especially those that are app-focused, offer free online stock trading. You Invest℠ by J.P. Morgan offers $0 commissions on online and mobile stock and ETF trades, and has a competitive per-contract commission for options trading.
You Invest℠ by J.P. Morgan is one of the only brokers with $0 commissions on all mutual funds, not just on a select group of no-transaction-fee (NTF) funds. Rivals have mutual fund commissions of as much as $49.99, so this can be a big money saver and is a major differentiator for You Invest℠ by J.P. Morgan.
Clients with at least $500 in their accounts can use You Invest Portfolios to help design an asset allocation for their risk tolerance and investment goals. This automated, robo-advisor charges a 0.35% management fee. Combined with You Invest's traditional brokerage offerings, investors have an array of investment options to be as hands on or off as they prefer.
It can be convenient to have your bank accounts and brokerage assets with the same company, as it makes for generally smoother money transfers. Plus, you can manage your Chase credit cards, bank accounts and any other J.P. Morgan investment accounts all in the same place.
Chase's customer support is available by phone from 8 a.m. to 9 p.m. EST on weekdays and 9 a.m. to 5 p.m. on Saturdays. However, the real differentiator is that You Invest℠ by J.P. Morgan customers can also get assistance at any of the nearly 4,900 branches in Chase's network.
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You Invest℠ by J.P. Morgan supports individual and joint brokerage accounts, as well as traditional and Roth IRAs. And to be fair, this is sufficient for the majority of investors. However, if you want to open a SIMPLE IRA, SEP-IRA, trust, custodial account, solo 401(k), or any other specialized account type, you can't do it with You Invest℠ by J.P. Morgan.
You Invest℠ by J.P. Morgan is a primarily app-based trading platform and isn't quite as feature-packed or as well-suited to active traders as some of the desktop trading platforms offered by rival brokers. While the app is highly rated, many investors might prefer a broker with a more feature-rich platform.
You Invest℠ by J.P. Morgan clients have access to J.P. Morgan stock research on more than 1,200 U.S. companies, but many rivals offer significantly more options when it comes to research access.
Some of Chase's rivals offer the ability to buy and sell fractional shares of stocks and ETFs -- say, one-half of a share of Apple. This can be an especially valuable feature for newer investors and those without tons of money to commit to stock investing.
If you want a more robust mobile-investing option: Robinhood is among the best when it comes to mobile app investing. Importantly, Robinhood doesn't charge commissions for stocks, ETFs, options (no contract fee too), fractional shares, and cryptocurrencies. But keep in mind that it doesn't offer mutual funds.
If you want to compare to a full-featured stock broker: TD Ameritrade has a deep bench of offerings that make it a fit for one of the widest array of investors in the market. Its trading and research tools are also best-in-class. Simply put, it offers everything You Invest℠ by J.P. Morgan does, and more.
Like most online brokers, You Invest℠ by J.P. Morgan offers $0 commissions on online stock and ETF trades. It still charges a small per-contract fee for options trading, which is competitive with its peers.
|Stocks and ETFs||Stock Options||Mutual Funds|
|$0||$0.65 per contract||$0|
A couple of notes. First, keep in mind that these commissions are for online trades. Commissions are significantly higher for representative-assisted trades made over the phone.
Second, note that You Invest℠ by J.P. Morgan has a $0 mutual fund commission, which is virtually unheard of in the brokerage industry. Many competitors have thousands of no-transaction-fee funds available, but it's rare to see a flat $0 mutual fund commission for all transactions. It's worth mentioning that there are other costs involved with mutual fund investing, such as the ongoing expense ratios charged by each fund. Plus, some may have upfront sales charges or short-term redemption fees if you sell within 90 days. Even so, a $0 commission on all mutual fund trades can be a major money saver, especially if the funds you're interested in are not offered commission-free elsewhere.
It's also worth mentioning that like many brokers, You Invest℠ by J.P. Morgan offers a robo-advisory service for investors who'd rather not pick their own stocks, ETFs, and mutual funds. Known as You Invest Portfolios, it will invest your money in an appropriate portfolio for you for an all-inclusive 0.35% annual management fee.
Buying mutual funds is one of the major differentiators of You Invest℠ by J.P. Morgan. Not only is it one of the only app-based trading platforms to offer the ability to buy and sell mutual funds, but it is one of the only brokers of any kind with no mutual fund commissions whatsoever.
Many rivals offer large numbers of funds (even thousands) that trade with no transaction fees. These are known as NTF funds. However, if the fund you want to buy or sell isn't on the broker's NTF list, you'll pay a commission, and these can be as high as $49.99 among online brokers. Therefore, depending on what mutual funds you're buying, the commission-free mutual fund pricing structure offered by You Invest℠ by J.P. Morgan can be a very attractive feature.
Most investors won't encounter any fees on the You Invest℠ by J.P. Morgan platform, unless they choose to use the robo-advisory service or are involved in options trading. However, there are a couple of fees that are worth mentioning:
You Invest by J.P. Morgan℠ is primarily an app-based trading platform. The Chase Mobile® App provides a way for You Invest℠ by J.P. Morgan customers to trade on the go. And unlike some of the other leading app-based trading platforms, such as Robinhood and Webull, You Invest℠ by J.P. Morgan offers a range of investment products including mutual funds and individual bonds.
The Chase Mobile® App is one of the best-rated apps in the banking world with a rating of 4.8 out of 5 on the App Store and a 4.4. out of 5 on the Google Play Store.
Unlike many competitors, Chase does not publish its margin interest rates on its website. However, the You Invest℠ by J.P. Morgan platform does offer margin trading at what Chase refers to as "competitive" interest rates.
Access to stock research can be a valuable tool for seasoned investors as well as beginners. You Invest℠ by J.P. Morgan clients have access to J.P. Morgan's proprietary stock research, which covers more than 1,200 publicly traded companies.
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