Chase You Invest: Invest Online With J.P. Morgan

August 23, 2020
Brokers
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Chase You Invest is one of the brokerage services offered by JPMorgan Chase, a leading global financial services company with $2.6 trillion in assets and operations around the world. With Chase You Invest you can invest in Stocks, Exchange Traded Funds (ETFs), Options, Fixed Income and Mutual Funds. In addition, Chase You Invest has high regulatory standards and offers several types of accounts so that you can choose the one that best suits your needs. If you are interested in investing with an American broker with a great legacy, Chase You Invest may be a good alternative.

In contrast, we firmly believe that Capital.com is a better alternative because it allows you to open an account in just 20 minutes and you can quickly and easily trade stocks, commodities, indices, currency pairs and cryptocurrencies anywhere in the world. . In addition, Capital.com offers you zero commissions for intraday trading and a fast platform with a clean, easy-to-use interface.

We analyzed hundreds of data points relevant to the costs, benefits and features of trading with Chase You Invest and scored our findings on a 10-point scale across 10 distinct categories.
Fees 10
Signup Process 10
Minimum Deposit 10
Ease of Use 8
Deposit & Withdrawal Options 6
Customer Support 7
Asset Classes 2
Referral Program 2
Demo Account & Educational Resources 2
Safety & Regulation 10
Total 67

What is Chase You Invest?

Chase You Invest is a registered broker-dealer and investment advisor, member of The Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC). Chase You Invest is a business of J.P. Morgan Securities LLC offering self-directed brokerage (You Invest Trade) and investment advisory services (You Invest Portfolios).

This means that Chase You Invest is part of JP Morgan, a company with more than 200 years of operation in the market. So you can be really sure that if you choose Chase as your investment platform, your money will be safe because the company transmits credibility and solidity. It is important that you take into account that Chase is limited to American investors.

Chase You Invest Pros & Cons

Pros

  • High regulatory standards.
  • An initial deposit of only $ 1 USD.
  • It is part of a company that has more than 200 years of experience.
  • Chase offers robo-advisor.
  • Commission-free.

Cons

  • There is no demo account.
  • No live chat.
  • Educational resources could be better.
  • It does not offer Forex or cryptocurrencies.

Account Types

Chase Your Invest offers several types of accounts and even a portfolio based on robo-advisor technology. Consider that to open an account, you need to be at least 18 years old and have a valid Social Security number and U.S. home address. Below you can see the types of accounts that Chase offers:

Brokerage Account

It is a standard trading account with which you can easily negotiate all the financial instruments that Chase offers. This may be right for you if you want the flexibility to withdraw your money at any time without early-withdrawal penalties (but without the tax benefits of an IRA).

Traditional IRA Account

With this retirement account, your contributions may be tax-deductible. This may be right for you if you think your tax rate will be lower once you reach retirement.

Roth IRA Account

With this retirement account, you may be able to contribute after-tax dollars. Also, you don’t have to pay federal tax on qualified distributions. This may be right for you if you think your tax rate will be the same or higher once you reach retirement.

You Invest Portfolios Account

This type of portfolio is designed and managed with the experience and technology of J.P. Morgan so you can seamlessly invest online with a portfolio based on your risk tolerance and goals. Plus, you can have your goals on track with a robo-advisor that automatically rebalances your portfolio as the market changes.

Chase You Invest
Here’s a breakdown of our 10 scoring categories, each scored out of 10 for a total of 100 points.

#1 Chase You Invest Fees

The rates at Chase You Invest will depend on the modality you choose to carry out the negotiations. You can do it on your own, completely online, or through a representative-assisted by phone.

Online

  • Commission-free online trades apply to trade in U.S. listed stocks, mutual funds and Exchange-Traded Funds (ETFs).
  • Options trades are subject to a $0.65 per-contract fee. Sales are subject to a regulatory transaction fee of between $0.01 and $0.03 per $1,000 of principal.
  • Corporate bonds, municipal bonds and government agency bonds: $10/trade + $1/bond over 10 bonds ($250 maximum)

Representative-Assisted

  • Stocks and ETF: $25 USD per trade
  • Options: $25 USD/trade + $0.65 USD/contract
  • Mutual funds: $20/transaction
  • Corporate bonds, municipal bonds, government agency bonds: $30 USD/trade + $1 USD /bond over 10 bonds ($270 maximum)

Additionally, if you wish to use You Invest Portfolios Account, the fee for using the robo-advisor management is 0.35% per year. Please note that Chase does not charge fees for withdrawal, funding or inactivity of your account.

Chase performs well in this category because if you do all your transactions online, you will only have to pay fees when trading bonds and options. You should also consider that the rates associated with options are almost standard in this type of contract.

Chase You Invest Fees Score: 10/10

#2 Chase You Invest Signup Process

The Chase account opening process is very simple and fast. Also, you can do the process completely online.

You just have to follow the following steps:

  1. Personal Info

    You must provide your personal information such as name, telephone number, social security number and tax ID number.

  2. If you want to trade on your own

    Choose You Invest Trade> Choose a brokerage account, traditional IRA or Roth IRA to get started

  3. If you want a portfolio managed for you

    Choose You Invest Portfolios> They’ll ask you a few questions about your investment goals.

  4. Before finishing the process you must

    Review and accept the agreements and disclosures

Chase You Invest is highly rated in this category because it allows you to create accounts without complications in just one day, which means that you’ll be able to take advantage of great market opportunities if and when they present themselves.

Chase You Invest Signup Process Score: 10/10

#3 Minimum Initial Deposit

In order for you to manage the trading accounts that Chase offers, you only need to make a minimum deposit of $1 USD. But, consider that the portfolio account requires a minimum initial deposit of $500 USD. Also, keep in mind that you must maintain a minimum balance of $250 USD so that your investment portfolio account does not close.

Chase scores excellent in this category because you can basically start investing in a trading account with whatever amount of money you want. For your reference, here is a table with the minimum amounts required by other brokers or financial service providers.

Broker                       Minimum Initial Deposit
TD Ameritrade$0 USD
Capital.com$20 USD
eToro$50 USD
Forex.com$100 USD

Chase You Invest Minimum Initial Deposit Score: 10/10

#4 Ease of Use

Chase offers an app and a web version of its investment platform. The platform is very friendly and easy to use, but, take into account that you will not have customization options and thus you will have to adapt to the structure and predefined configuration offered by the interface.

Chase You Invest Web Version

The web investment platform gives you the possibility to see graphs in real-time and you can choose between different periods of time, for example, quotes during a day, months or years. In addition, the platform will also allow you to see financial information of the different stocks so that you have a clear vision of each instrument.

Chase investment platform

Chase You Invest App

In the app version, you can have the same features as the web version with the plus that you can access your investment account at any time from your cell phone. Also, the application has a good perception of its users. In this way, the app has a rating of 4.4/5 in Google Play Store and 4.8/5 in Apple App Store.

The broker has a good rating in this category, but, it does not manage to add all the points because the investment platform, in either of its two versions, does not offer customization options. This factor is very relevant because you will have to adapt to the distribution and style of the investment platform. Additionally, there is not a more powerful desktop version of the app for more advanced and weathered traders.

Chase You Invest Ease of Use Score: 8/10

#5 Deposit & Withdrawal Options

Chase doesn’t offer many funding and withdrawal options. You can use bank transfers or transfer funds from other financial institutions among other methods. Next, you will see the alternatives that Chase offers:

  • Bank transfer.
  • Securities and/or cash from an external financial institution.
  • External IRA to an IRA at Chase You Invest.

Unfortunately, you will not be able to use a credit or debit card to fund your account. You also cannot use more modern and popular methods such as electronic wallets. It is very common to have multiple payment methods, especially retail investors tend to diversify their payment methods, so they could be limited with the methods that Chase You Invest offers. For this reason, the broker loses points in this category.

If you are looking for a broker that offers you more funding and withdrawal alternatives, we recommend Capital.com.

Chase You Invest Deposit & Withdrawal Options Score: 6/10

#6 Customer Support

Chase You Invest offers a very good customer service with which you will be attended quickly and efficiently. Also, Chase offers extended customer service hours from Monday to Friday (8 AM – 9 PM ET) and Saturday (9 AM – 5 PM ET). Below you will see the alternatives that Chase offers you when you want to communicate with the technical staff:

  • Phone:
    • Trade account : 1-800-392-5749
    • Portfolios account: 1-800-776-6061
  • Tweeter: @ChaseSupport

In this category, Chase loses points because it does not offer communication via email or live chat. Note that the customer service experience with live chat is very relevant because you will be able to communicate with technical staff in real-time. Also, generally during feedback, the assistant might share links with you, so you can test them out, and ask questions on any topic related to the services that Chase provides. You can also do this over the phone but it’s usually more convenient to do via chat.

Chase You Invest Customer Support Score: 7/10

#7 Chase You Invest Asset Classes

Stocks

Chase offers you 4,000+ US stocks.

Bonds

They will be able to trade 10.000+ government and corporate bonds.

ETFs

You will find 3,000+ ETFs on the Chase investment platform.

Although Chase’s offering is extensive, you won’t be able to trade currency pairs or cryptocurrencies; And although these are more volatile instruments, they are a complement when designing diversified portfolios. Also, you will only be able to buy US stocks. For these reasons, Chase loses a lot of points in this category.

Chase You Invest Asset Classes Score: 2/10

#8 Chase You Invest Referral Program

Chase You Invest offers you the opportunity to earn extra money with a referral bonus. In this sense, you can earn $50 USD when your friend opens a Chase account for the first time (up to 10 referral bonuses per calendar year). It is important that you take into account that the referred candidate must be a new Chase customer and open the account using the corresponding coupon.

While it is true that you can get extra money with the referral program, Chase loses points because the amount could be higher. Also, there is an annual limit and you will have to wait until the following year in case you want to invite more friends or acquaintances.

Chase You Invest Referral Program Score: 2/10

#9 Demo Account & Educational Resources

Chase You Invest Demo Account

Unfortunately, you will not be able to test your strategies without the risk of a real money account because Chase does not offer a demo account. This is a big downside because a demo account would not only allow you to learn how to use the platform in parallel, but also to test out different strategies.

Educational Resources

Chase offers acceptable educational content that could be rated average. On the web you will find opinion articles, tips, investment strategies and even tutorials for beginner investors.

Although Chase offers educational content, it loses points because it does not offer webinars or podcasts. These tools are very useful because they allow you to stay up-to-date as you perform your analysis. Another aspect that causes Chase to lose almost all the points in this category is that it does not offer a demo account so you can test the platform, hypotheses and investment strategies.

Chase You Invest Demo Account & Educational Resources Score: 2/10

#10 Safety & Regulation

Chase You Invest satisfies high regulatory standards. In fact, it is regulated by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA) and is also part of J.P. Morgan a company with more than 200 years in the market. These characteristics make Chase You Invest a solid company in which you can trust your money and for this reason, it takes all the points in this category.

Chase You Invest Safety & Regulation Score: 10/10

While researching 100+ of the world’s top brokers, we’ve noticed what works and what doesn’t from the customer’s point of view. That’s why our final test for any broker is to compare it to Capital.com, which scores 91/100 points across the 10 categories mentioned in this review.
Chase You Invest  vs. Capital.com

Chase You Invest  vs. Capital.com

Selecting the broker that best suits your investment strategies and plans is one of the decisions you must make with the greatest amount of information available so that you can operate without distractions and focus on making money. Moreover, it should also allow you to be confident when investing your money by letting you do the best analysis possible at the same time offering you the lowest rates. Taking into account the most relevant aspects for an investor, we prefer Capital.com over Chase You Invest for the following reasons:

The Best Investment options

Chase You Invest has a good number of financial instruments that you can invest in. However, Capital.com offers you several more possibilities because on its investment platform you will be able to access a greater number of financial instruments. In addition, Capital.com does offer you access to the Forex market and to cryptocurrencies with which you can complement your investment portfolios. This feature is really important because with Capital.com you will be able to have a greater capacity for diversification when building your investment portfolios.

It Offers An Unlimited Demo Account

One factor that is essential when testing an investment platform is being able to access a demo account. In this aspect, Chase You Invest  falls short because it does not offer demo accounts. With Capital.com you can truly test the platform since you will be able to use a unlimited  paper money demo account to test each one of the tools and features of the investment portal. Also, you can put your hypotheses and investment strategies into practice without the risk of a real money account, none of which can be done with Chace You Invest.

Far Better Deposit And Withdrawal Options

Chase You Invest does not offer many deposit and withdrawal options so you should take this aspect into account when making your decision. In contrast, we can affirm that Capital.com is better because you can use:

Credit/debit cardGiropayWebmoney
Bank transferMultibankoTrustly
SOFORTPrzelewy24Neteller
iDealQIWISkrill

You’re never charged a fee to deposit or withdraw money with Capital.com.

 

Chase You Invest In Summary

  • Chase You Invest is one of the brokerage services offered by JPMorgan Chase.
  • It is a member of The Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation (SIPC).
  • Chase Your Invest offers several types of accounts and even a portfolio based on robo-advisor technology.
  • The Chase account opening process is very simple and fast. You can do the process completely online
  • You only need to make a minimum deposit of $1 USD.
  • Chase You Invest offers a very good customer service with which you will be assisted quickly and efficiently.

If you are looking for an American broker with experience, Chase Your Invest may be a good alternative for you because it also offers a portfolio based on robo-advisor with which you can complement your investment strategies.

However, if you are an investor looking for a broker that allows you to diversify your portfolio internationally, we recommend Capital.com because it also offers you free trade for all the financial instruments. Also, Capital.com offers you an unlimited demo account with which you can test your hypotheses and exploit your profits to the maximum when you invest your money. We believe that Capital.com is a true ally because it also complies with high regulatory standards.

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