JP Morgan Self-Directed Investing Review: Verdict for 2021

J.P. Morgan Self-Directed Investing

J.P. Morgan Self-Directed Investing account by Chase Bank provides customers with an easy and low-cost way to invest online. This J.P. Morgan account was originally called “You Invest by J.P. Morgan” before being rebranded.

It’s a discount online brokerage primarily aimed for active traders, but it’s also a good fit for long-term investors who prefer to manage their own investments.

The account types that you can open under J.P. Morgan are the following:

  • General Investment (individual taxable brokerage account)
  • Traditional IRA (retirement account funded with tax-deductible contributions)
  • Roth IRA (retirement account funded with after-tax dollars)

J.P. Morgan also offers an Automated Investing account for those who want robo-advisor wealth management. The cost for this service is 0.35% in advisory fees and it requires a $500 minimum investment.

Benefits

Low Costs

J.P. Morgan Self-Directed Investing accounts offer unlimited, commission-free trades for stocks, options, ETFs, and mutual funds with no minimum balance requirements and zero monthly fees.

Option contracts has a fee of $0.65 per contract.

Portfolio Builder

If you have a balance of $2,000 or more, you’re eligible to use J.P. Morgan’s free Portfolio Builder tool.

The portfolio builder tool analyzes your stocks and ETFs to see if your overall portfolio fits within your “risk profile”, which takes into account your investment time horizon, goals, and ability to handle market fluctuations.

While the Portfolio Builder won’t force you into certain investments, it will give you a warning if your investment selections isn’t aligned with your risk profile.

Advanced Trading Options

You can trade a variety of investments, including stocks, ETFs, mutual funds, bonds, and other fixed income assets with a J.P. Morgan Self-Directed Investing account.

Ninja Note: Trading in other investments such as cryptocurrencies, foreign currencies, stock futures, and fractional shares is not supported. You also can’t trade on margin (margin trading requires a full-service account).

Fees

J.P. Morgan has no monthly fees and offers unlimited $0 online trades of stocks, ETFs, and mutual funds.

The options contract fee is $0.65. Fixed income costs $1 per trade. Buying bonds also costs $1 per bond ($10 minimum and $270 maximum).

Other transactions may incur a service fee:

TransactionFee
Broker-assisted trade$25 – $30
Returned check$12
Stop payments$30
Third-party wire transfer$25
ACAT (outgoing)$75
J.P. Morgan Self-Directing Investing Fees for Miscellaneous Transactions

Pros and Cons

Pros:

  • Commission-free trading
  • Owned by one of the largest financial institutions (Chase Bank)
  • All-in-one investing and banking app
  • All mutual funds offer $0 transaction fees

Cons:

  • No support for cryptocurrencies, forex, futures, or fractional shares
  • No margin trading
  • No self-employed retirement accounts (SEP IRA or Solo 401k)

How To Open J.P. Morgan Self-Directed Investing Account

To open a J.P. Morgan Self-Directed Investing account, click the link below to transfer to Chase’s landing page for this account.

You’ll have the option of opening a general investment account, a traditional IRA, or a Roth IRA account.

J.P. Morgan Self-Directed Investing FAQs

How do I contact J.P. Morgan customer service?

For assistance with your J.P. Morgan Self-Directed Investing account, please call 1-800-392-5749 between the hours of 8 AM to 9 PM EST.

You can also receive support in-person by visiting any of Chase Bank’s 4,700+ branches. Find a location near you here.

Do you need to be an existing Chase Bank customer?

No, anyone can open a J.P. Morgan account. You don’t need to be an existing Chase Bank or credit card customer (or have any existing Chase accounts).

How much money do you need to invest with J.P. Morgan?

There are no minimum investment requirements to open a J.P. Morgan Self-Directed Investing taxable or IRA account.

The Automated Investing accounts have a $500 minimum.

Does J.P. Morgan have a dedicated app?

No, but you can use the Chase Mobile app to access your J.P. Morgan Self-Directed Investing account and any other Chase Bank or credit card accounts you may have.

Can you trade afterhours with J.P. Morgan?

No. Any trades placed outside of normal trading hours (before 9 AM or after 4:30PM EST) will be placed in the order queue for processing when the market reopens.

The Bottom Line

J.P. Morgan Self-Directed Investing (formerly You Invest by J.P. Morgan) is a versatile, streamlined platform for self-directed investors and traders who want a hands-off experience, but with the flexibility to receive support when needed.

It’s a strong choice for price-sensitive investors due to the low costs and reasonable fees.

The people that aren’t ideal for this J.P. Morgan Self-Direct Investing account are those that want a full-service experience or investors who need robust research and trading tools.

Investment and insurance products are: Not A Deposit | Not FDIC Insured | No Bank Guarantee | May Lose Value

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