Chase You Invest Review 2021

Chase You Invest offers commission-free trading, but transaction and other smaller fees may apply.

How we ranked fees

We ranked Chase You Invest's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

• Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
• Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of Chase You Invest for each asset class. For example, in the case of stock investing the most important fees are commissions.

We also compared Chase You Invest's fees with those of two similar brokers we selected, Vanguard and Ally Invest. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Chase You Invest alternatives.

To have a clear overview of Chase You Invest, let's start with the trading fees.

Chase You Invest trading fees

Chase You Invest trading fees are low for all asset classes. 

Stock fees and ETF fees

J.P. Morgan launched Chase You Invest in 2018 as a commission-free service. The broker does not charge any fees or commissions for trading US stocks, ETFs, mutual funds, and US bonds.

Nevertheless, they do pass on the regulatory and stock exchange costs to clients. Their costs are still competitive, as they charge $0.01 - $0.03 per $1,000 principal for US stocks and ETFs, and a $0.65 contract option fee for option trades. 

Fund fees

Trading mutual funds at Chase You Invest is free of charge. In our experience, this is a superb and rather unique feature for a broker. For instance, Vanguard's funds are quite pricey.

Bond fees

Chase You Invest has generally low bond fees in comparison with the other brokers we tested.

If you trade US Treasury bills, notes, bonds or corporate bonds, municipal bonds, government agency bonds, and brokered CDS on primary markets, you will not encounter any trading fees at You Invest.

For secondary market bond trades, You Invest charges $10 per trade plus $1 per bond over 10 pieces of bonds traded (maximum fee is $250). 

Foreign bonds are subject to additional fees. 

Options fees

Chase You Invest options fees are competitive, they only charge $0.65 per option contract. There's also an additional transaction fee ranging between $0.02 and $0.05 per contract.

Financing rates

At Chase You Invest, you can't trade on margin, in other words you can't hold leveraged positions. Therefore, financing rates are not applicable at Chase You Invest .

Non-trading fees

Chase You Invest has low non-trading fees. No account fee or inactivity fee is charged.

Note that no withdrawal fee applies if you have an account at Chase or use an ACH transfer. Withdrawals to other banks via wire transfer cost $25. We tested Chase You Invest as a Chase client, so we didn't pay a withdrawal fee.

Account opening at Chase You Invest is seamless and fully digital. It took us one day to open an account, however only US clients are accepted.

Can you open an account?

Compare
TO BEST ALTERNATIVES

At the time of our test, only US residents could open an account at Chase You Invest.

What is the minimum deposit at Chase You Invest?

The required Chase You Invest minimum deposit is $0. This is ideal if you plan to invest smaller amounts. Bear in mind that if you want to use the Portfolio Builder service, you need to have a minimum account balance of $500.  

Account types

Chase You Invest offers 3 account types:

Interestingly, corporate accounts are not available.

In this review, we tested the Individual Brokerage Account. The account opening process is different if you are already a client of Chase or J.P. Morgan. We used our existing Chase checking account.

How to open an account

We really liked the fast and user-friendly process that was fully digital. It took one day with the existing Chase checking account, and we assume that non-Chase clients are treated in the same manner. The simplicity and speed of the process is unusual for US brokers, the account opening at Interactive Brokers, for instance, is more complicated.

So what does the process look like? You have to complete a 6-step registration process, which takes roughly 25 minutes. Some of the questions you need to answer refer to your personal information and data, while others are aimed at testing your trading knowledge.

During the registration process, you have to verify your identity and residency by providing the following:

• Your age (older than 18 or not)
• Social Security Number
• Your driver's license, ID or passport for identity check
• Bank statement or utility bill for proof of residency

At Chase You Invest there is no deposit fee and transferring money is simple and easy, although withdrawal options could be more numerous.

Account base currencies

At Chase You Invest, the only available base currency is only  USD.

If you have a personal bank account in a currency other than USD, then you will be charged a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Compare digital banks

Deposit fees and options

Depositing funds in your account is free if you have a Chase You Invest account or if you transfer using ACH. On the flipside, wire transfers from other banks cost $25.

These conditions are similar to those offered by the main competitors of Chase You Invest.

It's worth noting that a bank transfer can take several business days and you can only deposit money from accounts in your name.

Chase You Invest withdrawal fees and options

Withdrawals are free if you have a J.P. Morgan account or use ACH transfer, otherwise wire transfers will cost you $25.

How long does it take to withdraw money from Chase You Invest? We tested the bank transfer withdrawal and it took 1 business day.

You can only withdraw money to accounts in your name.

You can withdraw money from Chase You Invest by following these steps:

• Log into the account
• Select "Pay & Transfer"
• Select "Transfer money"
• Select the You Invest Trade account as "Transfer from" and the other account as "Transfer to"
• Add the amount you wish to withdraw
• Initiate the withdrawal

Chase You Invest's web trading platform is exceptionally easy to use and it boasts a great search function. On the flip side, two-step authentication is missing, there are no clear fee reports and users can't set price alerts.

Chase You Invest has the same web trading platform as its parent company. If you are a Chase client, you can bank and trade from the same platform. The web trading platform is available in English and Spanish.

Look and feel

The Chase You Invest web trading platform is user-friendly and a satisfying user experience is guaranteed. Unfortunately, the platform is not customizable.

Login and security

Chase You Invest provides only one-step login authentication. We found it a bit inconvenient that users have to register a new device if they log in from a device not used before (i.e. your phone or tablet). You are sent a code during registration via text, email, or phone and you can register your new device by entering this code. This is an extra step in ensuring safety but we still think a regular two-step authentication would be safer.

After registration, you can access your account using your regular user ID and password.

Search functions

The search functions work just fine. When you start typing a company's name or an asset ticker, a list of the relevant results is displayed.

Placing orders

You can use the following order types:

• Market
• Limit
• Stop-loss
• Stop limit

If you are not familiar with basic order types, read this overview.

You can choose a couple of order validity restrictions: 

• Good 'til canceled (GTC)
• Good 'til the end of the day (GTD)
• On the Open
• On the Close
• Immediate or Cancel (IOC)

Alerts and notifications

Unfortunately, you can not set alerts and notifications.

Portfolio and fee reports

Chase You Invest has a clear portfolio report but lacks a clear fee report. The pie charts help you understand to what extent your portfolio is diversified, which is very useful. The fee report would help to see the costs paid to the broker.

Compare
TO BEST ALTERNATIVES

Chase You Invest offers a great mobile trading platform with price alerts and biometric login. In functionalities and design, the app is the same as the web trading platform.

Though the web and the mobile trading platforms are very similar, we salute the simplicity and easy handling of the mobile trading platform. That is why we gave a higher score to the Chase You Invest mobile trading platform than the web trading platform.

The You Invest mobile trading platform is available on iOS and Android devices. We tested it on iOS. The mobile trading platform is available in English only.

Users can enable biometric authentication in the form of fingerprints and voice ID checks. The latest is a security feature that verifies the sound of your voice when you call the You Invest customer service center, allowing fast and secure access to your account. It is still not as safe as a two-step login, but more convenient from the user's point of view.

A major difference compared to the web trading platform is that you can't trade bonds through the mobile trading platform, which is strange.

Compare
TO BEST ALTERNATIVES

Chase You Invest does not provide a desktop trading platform.

Compare
TO BEST ALTERNATIVES

Chase You Invest has a limited product portfolio including stocks, ETFs, funds, bonds and options. Unfortunately, the product portfolio only includes assets traded on the US market.

Chase You Invest has an acceptable fund and bond offering but lags behind in terms of stocks and ETFs.

Stocks and ETFs

At Chase You Invest, clients can trade around 5,000 stocks and 2,000 ETFs. The available stocks and ETFs are traded only on major US stock exchanges.

Usually, we benchmark brokers by comparing how many markets they cover. It is hard to figure out how many exchanges Chase You Invest covers based on the information on their website and the trading platform. If you want to trade smaller US stocks or non-US stocks, it is best to contact their customer support first. 

You can't trade low-priced stocks or “penny stocks”.

Funds

Chase You Invest offers around 3,300 mutual funds from 60 different fund providers.

Bonds

Similarly to funds, the selection of bonds is generally OK.

Options

It is hard to estimate which option markets are available at Chase You Invest. We can only assume that clients have access to the biggest ones, like the CBOE.

Portfolio Builder

Chase You Invest's Portfolio Builder service is a mix of mutual funds and robo-advisory. It is a great tool if you need help in managing your investments.

First, you have to answer questions about your investment goals, risk tolerance and the time horizon of your investments. The Portfolio Builder creates a portfolio based on your answers.

You have to commit at least $500 to start using the Portfolio Builder.

At Chase You Invest, the research tools are user friendly when it comes to fundamental data or screening. Nevertheless, sophisticated charting tools and recommendations are missing.

The research tools are located under the Markets section on the You Invest Trading Platform. 

Trading ideas

Unfortunately, Chase You Invest does not provide trading ideas or recommendations.

Fundamental data

Chase You Invest offers fundamental data for the majority of available assets, but these are very basic like company profile, market capitalization, Beta or P/E ratio.

The are detailed analyses, called Company reports, for the biggest US companies (i.e. Apple, Tesla, Netflix, etc.) prepared by the J.P. Morgan research team.

Charting

Chase You Invest has poor charting tools, you can use only 21  technical indicators which is limited. Unfortunately, you can only compare a chart with the charts of other assets, no technical drawing tools are available. 

Newsfeed

Chase You Invest offers a news feed provided by Comtex. The format is easy to read but lacks visual elements, like charts or pictures. 

Other research tools you will enjoy

Chase You Invest offers a high-quality screener tool. The numerous filters embedded into the screener help filter assets based on sector, market capitalization, performance, etc.

With respect to funds, Morningstar ratings are also available. Morningstar rates range from 1 to 5 stars and describe a particular fund's perfomance relative to similar funds. The top 10% of funds receive 5 stars, while the bottom 10% are assigned 1 star.

The customer service at Chase You Invest is limited to a quick and relevant phone support or to visiting a branch. While you can send secure messages, email and chat are not available.

The phone support is available in English and Spanish.

There are a lot of Chase branches throughout the US. If you visit a branch, you can contact a JP Morgan adviser or your Chase representative/private banker for general information,

Customer Support is available from Monday to Friday from 7 AM to 11 PM and Saturday from 10 AM to 7 PM ET. We missed 24/7 availability.

Compare
TO BEST ALTERNATIVES

Chase You Invest's education section offers a wealth of high-quality videos and articles. On the negative side, the demo account and the platform tutorial videos are missing.

The educational materials are available under the 'Learning & Insights' tab. 

At Chase You Invest you can learn in the following ways:

• General educational videos
• Quality educational articles

General educational videos cover basic concepts for beginners, such as stock market or diversification.

The other source of development is the article section, which is definitely worth checking out. The materials cover a wide range of topics, including investment jargon, investment strategies and planning.

In your account portal, each page contains a FAQ, a Glossary and a summary page; it's super-easy to understand the covered topics and the functions.

Compare
TO BEST ALTERNATIVES

Chase You Invest is regulated by top-tier US regulators like the SEC and FINRA. The investor protection amount is high, but negative balance protection is not available.

Is Chase You Invest regulated?

Yes, it is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Chase You Invest is based in the US and was established by J.P. Morgan in 2018. The parent company, J.P. Morgan has a long track record. Is Chase You Invest safe? To be certain, it is best to check two things: how you are protected if something goes wrong and what the background of the broker is.

How you are protected

This is important for you because the investor protection amount and the regulator differ from entity to entity.  With Chase You Invest this is not an issue though as all customers are covered by J.P. Morgan Securities LLC. 

The SIPC investor protection shields investors from the loss of cash and securities in case the broker goes bust. The limit of SIPC protection is $500,000 with a $250,000 cash limit.

Not all investments are protected by SIPC. In general, SIPC covers notes, stocks, bonds, mutual funds and other investment company shares as well as various registered securities. It does not cover instruments such as unregistered investment contracts or limited partnerships, fixed annuity contracts, currency, and gold, silver or other commodity futures contracts or commodity options.

Similarly to other US brokers, Chase You Invest does not provide negative balance protection. That means you are not protected if the balance on your account goes into negative.

Background

The parent company of Chase You Invest is J.P. Morgan, one of the oldest and most powerful names in investment banking wordwide. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

The fact that the parent company has a banking license means that Chase You Invest is also subject to tougher regulations than brokers. What's more, J.P. Morgan is listed on the stock exchange, which is a big plus for safety as it requires the publication of financial statements regularly and transparently.

Chase You Invest's safety profile is greately boosted by the fact that the broker's parent company has a banking background, is listed on the stock exchange and is regulated by top-tier regulators.

Find your safe broker

Chase You Invest offers awesome fees: the broker does not charge additional fees for trading US stocks, ETFs, mutual funds and US bonds. Some very low charges may apply to cover costs imposed by regulatory or stock exchange authorities (e.g. $0.01 - $0.03 per $1,000 principal for US stocks and ETFs). 

The fully digital account opening is easy and fast, on-boarding is seamless. Chase You Invest's parent company, J.P. Morgan, has a banking background, is listed on the New York Stock Exchange and is regulated by the SEC. 

Chase You Invest has some drawbacks, though. It is only available to US residents, the product portfolio is limited, with a heavy focus on US markets and the research tools are basic. 

In a nutshell, Chase You invest offers low-cost trading and has one of the most solid parent companies. Feel free to give it a try. 

Compare
TO BEST ALTERNATIVES