Chase You Invest Review 2020

Chase You Invest has low trading fees and low non-trading fees and you can also trade with mutual funds for free.

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.

To get things rolling, let's go over some lingo 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, commissions are the most important fees.

We also compared Chase You Invest's fees with those of two similar brokers we selected, Robinhood and Interactive Brokers. 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. 

J.P. Morgan launched Chase You Invest in 2018 as a commission-free service. For this reason mutual funds are completely commission-free and US-based stocks and ETFs are also free for up to 100 trades in the first year. The bonds have fees, but they are very low.

If you compare the commission-free offers with Robinhood, you can see that Robinhood has zero commission for all asset classes and there is no time limit.

Stock fees and ETF fees

The commission Chase You Invest charges on stock and ETF trading is low compared to other brokers we tested. 

The already mentioned 100 commission-free trades are available for you as a new client for one year. If the one year or the 100 trades expire, a $2.95 commission per trade will be applied. In our review, we counted this commission level as it is the standard commission level after the first year.

There are some notable exceptions though. For example, you can have more commission-free trades:

• if you are a customer of Chase Premier Plus Checking, you have 100 free trades each year, not only in the first
• if you are a customer of Chase Sapphire Banking / Chase Private Client / J.P. Morgan Securities line of business / J.P. Morgan Private Bank, you have $0 commissions for all online trades, not limited to the quantity or the time

Fund fees

Trading with mutual funds at Chase You Invest is free of charge. It is a superb and unlikely feature for a broker considering our experiences with other competitors. For instance, Robinhood doesn't offer mutual funds at all.

Bond fees

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

The bond fees are calculated as $1 per $1000 par value. There is also a $10 minimum and a $250 maximum.

Financing rates

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

Non-trading fees

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

An important note there is no withdrawal fee only if you have an account at Chase or use ACH transfer. The withdrawals to other banks using wire transfer cost $30. We tested Chase You Invest as a Chase client, so we had no withdrawal fee.

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

Can you open an account?

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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 in smaller amounts. Although, if you would like to use Portfolio Builder, you shall have a $2,500 minimum account balance.  

Account types

Chase You Invest has 4 account types:

We missed the corporate accounts at Chase You Invest.

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

How to open your account

We really liked the fast and user-friendly process that was luckily fully digital. It took one day for us with the already existing Chase checking account, however, non-Chase clients are probably treated in the same way. This simplicity and speed are not usual for US brokers, for instance, the account opening at Interactive Brokers is very complicated.

So how does the process look like? At first, you have to go through a 6-step registration process which takes roughly 25 minutes. During this registration, some of the questions are related to your personal information and data, while others might test your trading knowledge. 

During this process, you have to verify your identity and residency by answering the followings:

• You are at least 18 years old
• Social Security Number
• Driving 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 easy and user-friendly, but withdrawal can be improved. You can use only bank transfer and there is a high fee for wire withdrawals if you are a non-Chase client.

Deposit fees and options

Depositing is free if you already have a Chase You Invest account or if you transfer using ACH. On the flipside wire transfers from other banks cost $30.

These conditions are similar to the 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 which are in your name.

Chase You Invest withdrawal fees and options

Withdrawals are free if you already have a J.P. Morgan account or use ACH transfer, but wire transfers will cost you $30.

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.

How do you withdraw money from Chase You Invest? 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

Account transfer

Besides the money transfer, you can also use account transfer to transfer your cash and/or securities from an external account. Chase You Invest charges $75 for account transfers.

Compare to other brokers

Chase You Invest web trading platform is very easy-to-use and has a great search function. On the flip side two-step authentication, clear fee report and price alerts are missing.

Chase You Invest has the same web trading platform as the parent company. If you are a Chase client, it further actions easier as you can do banking transactions, not only trading. The web trading platform is available in English and Spanish.

Look and feel

The Chase You Invest web trading platform is user-friendly and provides a good user experience for you. Unfortunately, the platform is not customizable.

Login and security

Chase You Invest provides only a one-step login authentication. We found it to be a bit difficult having to register a new device when you log in from a device you didn't use before i.e. your phone or tablet. You get a code during registration via text, email or phone and you can register your new device later with this code. This is a sort of extra step in ensuring safety but we still think a regular two-step authentication would be safer.

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

Search functions

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

Placing orders

You can use the following order types:

• Market
• Limit
• Stop-loss
• Stop limit

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

There are also order time limits you can use:

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

Alerts and notifications

Unfortunately, you cannot 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 you to see the costs you paid to the broker.

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

Though the web and the mobile trading platforms are really similar to each other, we overweight simplicity and easy-handling at mobile trading platforms. That is why Chase You Invest mobile trading platform has a bit higher score than the web trading platform.

The mobile trading platform of Chase You Invest is available both on any iOS or Android devices. We tested it on iOS. The mobile trading platform is available in English only.

In the case of the mobile trading platform biometric authentication is enabled in the form of fingerprints and voice ID. The latest is a security feature that verifies you by the sound of your voice when you call our customer service center, allowing fast & secure access to your account. It is still not as safe as a two-step login would be, but more convenient from user point of view.

The major difference compared to the web trading platform is that you can't trade with bonds through the mobile trading platform. It was very strange to us.

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Chase You Invest does not offer a desktop trading platform.

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Chase You Invest has a limited product portfolio offering stocks, ETFs, funds and bonds. Unfortunately, the product portfolio covers only asset classes from the US market.

Chase You Invest has ok fund and bond offers but lags behind in stock and ETFs.

Stocks and ETFs

Chase You Invest will give you access to around 5,000 stocks and 2,000 ETFs. It is much less than at Interactive Brokers, but almost the same as Robinhood. The stock and ETF offers cover only the major US stock exchanges.

Usually, we benchmark brokers by comparing how many markets a broker cover. Based on their site and the trading platform it is hard to figure out how many exchanges Chase You Invest covers. In case you plan to trade with small US stocks or with non-US stocks, it is best to contact their customer support first. 

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

Funds

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

Bonds

Similarly to funds, the selection of bonds is generally ok but lags behind Interactive Brokers product lineup.

Portfolio Builder

Chase You Invest offers also a service, called Portfolio Builder. It is kind of a mix of mutual funds and robo-advisory. It is great if you need help to manage your investments.

First, you have to answer questions about your investment goal, risk tolerance, and time horizon. Based on your answers, Portfolio Builder creates a portfolio.

There is a $2,500 minimum amount to start Portfolio Builder.

Chase You Invest research tools are user-friendly when it comes to fundamental data and screening. On the flip side, sophisticated charting tools and recommendations are missing.

If you are looking for research tools of Chase You Invest, enter the Trading Platform and visit the 'Markets' section.

Trading ideas

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

Fundamental data

For the majority of the assets Chase You Invest offers you fundamental data although these are very basic ones like company profile, market capitalization, Beta or P/E ratio.

You can also find a detailed analysis, called Company report for the biggest US companies, like Apple or GE prepared by the J.P. Morgan research team. 

Charting

Chase You Invest has poor charting tools, you can use only 20 technical indicators which is limited especially if you compare with Interactive Brokers' 119 indicators. Also, unfortunately, you can only compare a chart with the charts of other assets, you can't use trendlines or other useful tools.

Newsfeed

Comtex as a third party provides the newsfeed for Chase You Invest. 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 you to filter the assets based on their sector, market capitalization, performance, etc.

At the funds, you can find a rating score by Morningstar, a third-party provider. This rating varies from 1 to 5 stars and describes how well a fund performs compared with similar funds. The top 10% of funds receive 5 stars, while the bottom 10% receive 1 star.

Compare research pros and cons

You can contact Chase You Invest through a quick and relevant phone support or by visiting a branch. Email and chat is missing though.

The telephone support is available in English and Spanish.

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

The Customer Support is available from Monday to Friday from 8 AM to 9 PM and Saturday from 9 AM to 5 PM ET. We missed 24/7 availability.

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

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

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

• General educational videos
• Quality educational articles

General educational videos cover the basic concepts for beginners such as what do phrases like "stock market" or "diversification" mean.

The other source of self-learning development is the article section. Here you can find a lot of topics covered, from the investment jargon to the investment strategies and planning.

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

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Chase You Invest is regulated by top-tier US regulators as SEC and FINRA. 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), Financial Industry Regulatory Authority (FINRA).

Chase You Invest is based in USA and was released by J.P. Morgan in 2018. The parent company, J.P. Morgan was founded in 1985, meaning it 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 protects against the loss of cash and securities in case the broker goes bust. The limit of SIPC protection is $500,000 from which cash is limited to $250,000.

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

As in the case of US brokers, Chase You Invest neither provides negative balance protection that would mean if the balance on your account goes into negative, you would be protected.

Background

The parent company of Chase You Invest, J.P. Morgan was established in 1985. 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 a subject of tougher regulations than brokers. What's more, J.P. Morgan is also listed on the stock exchange, which is a big plus for safety as it releases financial statements regularly and transparently.

Having a parent company with a banking background, being listed on a stock exchange, and regulated by top-tier regulators are all great signs for Chase You Invest's safety.

Find your safe broker

Chase You Invest fees are great. You can trade with mutual funds for free and as a new client you have 100 commission-free trades for US-based stock and ETF in the first year. The account opening is easy, fully digital, and fast. J.P. Morgan is Chase You Invest's strong parent company. It has a banking background and listed on the New York Stock Exchange.

Chase You Invest has some drawbacks though. It is available only for US clients. The product portfolio is limited, covering only US markets and the stock, ETF, bond, and fund asset classes. Lastly, the research tools are basic. 

Speaking of account opening, the process is seamless, and Chase You Invest offers commission-free mutual funds and 100 commission-free stock and ETF trades, feel free to try it.

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