J.P. Morgan Self Directed Investing
Monthly Fee
Minimum Deposit
Our Rating
Promotion
$700 when you fund with $250,000 or more
$325 when you fund with $100,000-$249,999
$150 when you fund with $25,000-$99,999
$50 when you fund with $5,000-$24,999
JPM Self-Directed Investing is an online platform that lets you take control of your own investments without needing a financial advisor. Customers can trade U.S. stocks, ETFs, mutual funds, bonds, and options, all in one place.
The Self Directed Investing Platform is not overly complicated and offers a decent resource for new and intermediate investors who want to take a hands on DIY approach and are looking for a low entry point.
What types of investments can I trade on JPM Self-Directed Investing?
The platform allows you to trade U.S.-listed stocks, ETFs, mutual funds, bonds, and options. However, you do not have access to precious metals, futures, crypto, or forex.
How do I open a JPM Self-Directed Investing account?
You can open an account online by visiting the Chase website or through the Chase mobile app. The process involves filling out an application, verifying your identity, and funding your account.
What research tools are available on JPM Self-Directed Investing?
The platform provides a range of research tools, including market analysis, stock screeners, and educational resources, to help you make informed investment decisions. However, compared to other platforms, this section is lacking.
How does JPM Self-Directed Investing integrate with my Chase accounts?
If you're a Chase customer, your investment account will integrate seamlessly with your Chase banking accounts. This integration allows for easy fund transfers and a consolidated view of your finances.
Does JPM Self-Directed Investing offer a robo-advisor
No, JPM Self-Directed Investing does not currently offer a robo-advisor. It is primarily a platform for self-directed investors who prefer to manage their portfolios.
Does JPM Self-Directed Investing offer tax-loss harvesting?
The platform does not offer automated tax-loss harvesting, but you can manually implement tax-loss harvesting strategies within your portfolio.
How does JPM Self-Directed Investing support customer service?
Customer service is available via phone, chat, and in-person at Chase branches. However, support hours are not 24/7, so assistance is limited to regular business hours.
Is JPM Self-Directed Investing suitable for beginners?
Yes, the platform is user-friendly and provides a range of educational tools, making it suitable for beginners. However, it may not be ideal for those looking for automated investing options or advanced trading tools.
However, while the platform has been recently enhanced to provide an even more robust user experience, the account offerings are still a little limited for more experienced investors.
Pros | Cons |
|---|---|
No Commissions for Stocks and ETFs | No Robo-Advisor Or Automated Investing |
Integration with Chase Accounts | No Cryptocurrency Trading or Forex Trading |
Research and Educational Resources | No Advanced Trading Tools |
Fractional Shares | Low Rate On Uninvested Cash |
Features I Mostly Liked
Here are the key features that I found most appealing in JPM Self Directed Investing Platform:
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Diverse Selection of Stocks & ETFs
The JP Morgan Self Directed investing platform allows access to over 800 stocks and ETFs, 8,000+ mutual funds, fixed income products and options.
Trades are based on a dollar amount, making it easier to work out exactly how much I want to invest and there are no commissions.
It is not possible to trade in penny stocks, which JP Morgan defines as securities trading at less than $5 and not on a major exchange.
However, it is still possible to trade in securities that are not listed on major stock exchanges, trading at more than $5. This opens up a diverse selection of assets to create a balanced portfolio.
I also like that it is possible to start trading from as little as $1, removing the barrier to entry for many possible investors.
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Solid Retirement Planning
The platform only offers traditional and Roth IRAs, but I like the tools to plan my retirement. There are no annual account fees when self directing the account and no commission on stock, mutual funds and ETF trades.
This makes JPM a solid choice if you’re considering your retirement planning on a restricted budget, as you can make every dollar count.
JP Morgan Chase also offers a variety of financial education tools and retirement account calculators. These allow me to analyze my retirement account and keep on track of my progress.
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JP Morgan Wealth Plan
J.P. Morgan Wealth Plan is a free digital money coach available in the Chase Mobile® app and at chase.com, designed to help you manage and plan your finances.
It provides a 360° view of your financial life, allowing you to track your money daily, set and adjust goals, and receive personalized guidance on budgeting, saving, and investing.
I can also link my external accounts to see a complete overview of my financial situation and how this influences the progress towards my goals.
The tool automatically tracks my money each day and provides dynamic updates in real time on my dashboard to help me stay on top of my finances.
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Promotions
When I opened and funded my account and kept the funds in place for a minimum of 90 days, I received a cash bonus.
J.P. Morgan Self-Directed Investing offer promotions for new customers – you can get up to $700 when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money:
- $700 when you fund with $250,000 or more
- $325 when you fund with $100,000-$249,999
- $150 when you fund with $25,000-$99,999
- $50 when you fund with $5,000-$24,999
The bonus amount is determined by the amount of account funding at day 45 from account enrollment. The current offer expires on 10/11/2024 .
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Access to Pro Advice
While the advantage of this trading platform is that it is self directed with no fees, if I do start to feel overwhelmed, I can still access professional advice. The JPM team is on hand to schedule a meeting with an advisor as you can see in these screenshots.
The Wealth Plan tool we just discussed makes it easy to schedule meetings, but the tool itself is also collaborative. This means that my JPM advisor can track my progress, help me to create a plan and adjust my financial strategies.
There are costs associated with the professional advice and if you need personalized investment guidance, you do need to have a minimum portfolio amount of $25,000.
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Portfolio Analysis
JPM has made a number of upgrades to its platform that assist with portfolio analysis. Now, I can easily identify my gains and losses, contrasting how my investments are performing compared to the market.
I can also view the most active stocks, outperformers and even companies that are paying the highest dividends to determine which are the best fit for my portfolio.
The upgrades also include more enhanced screener options. I can sort and compare investments using a preset screen or create my own using the filtering options.
I can even set personalized market alerts for my current or potential investments and watchlists as you can see in these screenshots.
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Technical Analysis Tools
Users can create customized charts using indicators such as volume, momentum, and trends.
The platform also supports upper and lower indicators, including moving averages, linear regression, and high/low ratios, helping investors gain deeper insights for more informed trading decisions.
Additional Features That Helped Me
Besides the main features I use regularly, there are additional features for investors:
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ESG/SRI Research
Socially Responsible Investments (SRI) have become an important part of investing strategy. I like to think that in addition to generating a profitable and balanced portfolio, I can also support companies that are doing some good in the world.
JPM appreciates that this is a point of interest for many potential investors, so it has a dedicated SRI section within the “Find Investments” tab.
I can also access a variety of reports on the topics of SRI and ESG. I can use the filter option to only search for SRI companies within the ETF and mutual funds sections and can view investment performance, Morningstar ratings and more.
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Bond Ladder Illustrator
The Bond Ladder Illustrator is a powerful tool designed to help you build tailored bond ladders that meet your financial needs.
By starting with a cash amount and considering individual factors such as tax rate and risk tolerance, you can create optimal bond ladders using a broad range of assumptions.
The tool generates customizable, client-ready reports that present the results of the bond ladder analysis in a clear and personalized format. Additionally, it offers specialized strategies, such as the Municipal Ladder Strategy.
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Fractional Shares
I’ve touched on this earlier, but is it worth discussing on its own merits that JPM does allow fractional shares. Essentially, this means that I can put every dollar to work, setting buy orders by dollar amount rather than x number of shares.
As you can see in this screenshot, it is easy to switch between a purchase order for a number of shares or a dollar value.
I liked that I had both options, so I can better plan my purchases. There is also a preview screen for each purchase order, so I can double check my figures before I pull the trigger.
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Periodic Investments
There are times when I don’t have the time or access to arrange purchase orders, or I simply want to set and forget an order.
Fortunately, the JPM platform has included a feature to help with this. Periodic investments allow me to designate a dollar amount I want to invest in a particular fund with my preferred frequency.
For example, as you can see in this screenshot, I’ve arranged to invest $1,000 into a Vanguard mutual fund on the 1st of every month.
I can designate the account I want to use to fund the purchase and add multiple send dates. There is also a memo feature, so I can make a note for myself to keep everything straight.
Fee Structure
The transparent fee structure makes it easy to know what costs will be involved in your trading activity. Trading stocks, mutual funds, and ETFs is commission free.
If you want to trade options, there is a $0.65 options contract fee. Bonds also incur a fee of $1 per bond, but there is a $10 minimum and a maximum cap of $250.
In addition to these trading fees and charges, there are some other expenses you may encounter during your regular trading activities. These include:
- Broker-assisted trades: $25 to $30
- Third-party wire transfers: $25
- Stop payments: $30
- Brokerage account termination and transfer: $75
What Can Be Improved
No platform or financial product is perfect and this is the case with JPM. There are a few areas where the platform and services could be improved. These include:
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No Automated Investing
This is currently JPM's most significant drawback. Unlike most other brokerage and investment platforms that offer robo-advisors, JPM lacks a strong alternative for hybrid investors who prefer a passive investment approach.
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The Low Sweep Rate
I’ve already touched on this, but since JP Morgan Chase is a mainstream, traditional financial institution, its rates tend to be on the low side.
Since I’m a self directed investor, I only earn 0.01% on my uninvested funds. This is fairly comparable to standard Chase savings account rates, but it is still well below the average rates.
When compared to non traditional trading platforms, the rates seem particularly miserly.
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Limited Assets
While there is a decent selection of stocks, ETFs, options and mutual funds, there are some gaps in the asset line up.
I can’t trade in crypto unless I choose a crypto ETF, which is a shame as crypto tends to be used to create a diverse portfolio. There is also no forex or futures trading.
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Limited Third Party Research
Although it is possible to use just the JPM proprietary research to make my trade decisions, it would be nice if there was greater access to third party research tools.
JPM has enhanced its platform capabilities, so this could be something the team intends to work on in the future.
What Type of Investor is Best Suited to JPM?
JPM has a solid platform that offers a decent user experience with some nice tools and features, but there are some investors who are likely to be better suited to these services.
- Existing Chase Customers: It stands to reason that if you’re already a Chase customer, using the JPM investing platform will be a smoother experience. You won’t need to go through any complicated account opening procedures and you can easily link your accounts.
- Those Interested in Free Trades: JPM is a low cost trading platform with little or no fees for most trades.
- Standard Retirement Planners: If you’re happy with a traditional or ROTH IRA, the JPM platform makes it simple and easy to start and contribute to your retirement plan. There are some nice tools that can help you monitor your fund and predict if you’re on track for your retirement goals.
Disclaimer: Investment And Insurance Products Are: Not A Deposit • Not FDIC Insured • No Bank Guarantee • May Lose Value
