Compare J.P. Morgan Self Directed Investing versus TD Ameritrade: IRA, commissions, investing fees, trading tools, account differences, pros and cons. Which brokerage house is better?

J.P. Morgan Investing vs. TD Ameritrade Introduction

J.P. Morgan Investing is the new kid on the block. It’s trying to unseat the heavy hitters in the industry, one of which is TD Ameritrade. Can the upstart do it? Have a look at these categories:

Comparison Table

TD Ameritrade Rating Chase Investments Review
Rating 4.5-star brokerage firm rating 4-star brokerage firm rating
Stocks $0 $0
Mutual Funds $49.99 $0
Initial Funding Requirement $0 $0
Inactivity Fee $0 $0
IRA Annual Fee $0 $0
Full Account Transfer $0 $75
Partial Account Transfer $0 $75
Account Closing Fee $0 $75 for IRA
Trading Experience & Technology brokerage ratings brokerage ratings
Mobile brokerage ratings brokerage ratings
Research Amenities brokerage ratings brokerage ratings
Portfolio & Analysis Reports brokerage ratings brokerage ratings
Customer Service and Education brokerage ratings brokerage ratings
Open an account $0 stock/ETF trades + transfer fee refund. Get up to $625 when you open and fund a J.P. Morgan Self-Directed Investing account.


First Category: Investment Offerings

Robo accounts are available through J.P. Morgan Automated Investing. The service does cost 35 basis points annually. It trades only JPMorgan funds, which is the primary downside. There are no traditionally-managed accounts.

Self-directed accounts are available through J.P. Morgan Self-Directed Investing. The brokerage firm currently offers stocks, ETFs, closed-end funds, mutual funds, and bonds.

TD Ameritrade clients can open self-directed accounts with the same tradable instruments that J.P. Morgan Investing has plus futures contracts and forex. Although this list is a little longer, TD Ameritrade does not offer any type of investment management.

Winner: Overall, it’s a draw


Second Category: Customer Service

J.P. Morgan Investing offers phone support during the week from morning until evening. There are no weekend hours. The broker’s website has no chat function, although there is an internal messaging system that can send and receive messages with attachments.

Although there are some Chase Bank spots that have a financial advisor on location, these are just for Wealth Management clients (accounts are available through J.P. Morgan Wealth Management, an affiliated but separate company).

TD Ameritrade clients can visit one of over a hundred branch offices located throughout the lower 48 (and one in Hawaii and another one in Alaska). For customers who can’t make it to one of the brick-and-mortar offices, there is always phone service. It is up and running 24 hours a day, 7 days a week.

And then there’s the broker’s website. It has both robo and human chat services. Plus, there’s an internal messaging center. The self-help center on the site is also much better than J.P. Morgan Investing’s.

Winner: TD Ameritrade


Third Category: Margin

TD Ameritrade offers both cash and margin accounts. They latter charge interest on loans using the following tiered schedule:

Debit Balance Margin Interest Rates
above $499,999 call 800-655-4777
$250,000 - $499,999 9.00%
$100,000 - $249,999 9.00%
$50,000 - $99,999 9.25%
$25,000 - $49,999 10.25%
$10,000 - $24,999 10.50%
under $10,000 11%

J.P. Morgan Investing does not offer margin accounts.

Winner: TD Ameritrade


Fourth Category: Websites

J.P. Morgan Investing uses the Chase Bank website. Brokerage accounts are automatically linked with bank accounts (assuming they are opened with the same tax ID number). The investment area of the site has some basic tools—and we do emphasize basic.


JPM vs TD Ameritrade


The order ticket has four trade types (stop, limit, market, and stop limit) plus several time-in-force choices. Charting comes with multiple tools (indicators, plot styles, company events, and drawing tools), but there is no full-screen mode, which is a major absence for any serious trading regimen.

Charting improves a little over at TD Ameritrade. The broker’s website does allow a graph to be expanded almost the width of the monitor. There is a comparison feature, which is absent on the J.P. Morgan Investing site.


TD Ameritrade vs Chase


Order entry is in a totally different universe. A trade can be submitted either on SnapTicket, an advanced trade bar, or on a web page, where even more advanced order types will be found.

For limit orders, SnapTicket can be locked or unlocked. In unlocked mode, the limit price follows bid quote changes for sells and ask quote changes for buys. In locked mode, the limit will not adjust. In addition to market and limit orders, there are trailing and stop orders.

On the web-page ticket, there are some really advanced orders like OCA (one cancels another) and OTT (one triggers two). There are discrete buttons for sell short and buy to cover. These do not exist on the J.P. Morgan Investing site.

For customer support, the TD Ameritrade website has a Screen Share feature. This tool allows a customer service rep to see a customer’s computer screen during a phone call (if the customer consents and supplies the generated code). The link for this feature is at the bottom of the site. The J.P. Morgan Investing site has no such feature.

Winner: TD Ameritrade


Fifth Category: Mobile Apps

J.P. Morgan Investing’s app has a lot of banking tools on it because it is the Chase Bank app. Features we found include credit monitoring and cash-back deals.


Chase or TD Ameritrade


For actual trading, software is borrowed from the website. This means charts and the order ticket are the same tools that are on the website. A chart cannot be rotated horizontally, and this is a serious weakness.

TD Ameritrade has two apps. One we might call the basic app, but it is anything but basic. There are some really advanced resources, like Level II quotes. And then there’s a trading app with really advanced charting and order entry. Here are some highlights:


TD Ameritrade vs JPMorgan


  • Horizontal charting with hundreds of technical indicators
  • Drawing tools
  • Order overlays on a chart
  • Twelve order types
  • Direct-access routing
  • Discrete sell short button
  • Tax-lot choices

In addition to the apps’ great charting and order entry features, we found live streaming of CNBC and TD Ameritrade Network, the company’s in-house financial channel. The trading app has an economic calendar that is helpful to keep track of upcoming conference calls, etc.

Winner: TD Ameritrade


Sixth Category: Security Research

J.P. Morgan Self-Directed Investing has brief profiles on stocks and funds. Stock profiles have vital stats like ex-dividend date and average volume. There are press releases for companies that have them, and news articles are also available from Benzinga.


JPM vs Ameritrade


Analyst reports are available in pdf format from both CFRA and J.P. Morgan Equity Research, both of which provide price targets. Analyst earnings forecasts are also shown.

There are three screeners integrated in the J.P. Morgan Investing website. These can be used to find ETFs, mutual funds, and stocks. There are many criteria on the screeners, which make them very useful. Trade links are shown in the results, which is a quick way to get an order submitted.

The TD Ameritrade website also has screeners for securities. During our testing of them, we found them to be about as effective as J.P. Morgan’s tools. Both brokers have pre-defined screens, and both websites also offer the ability to save a search.


TD Ameritrade Stock Profile


Stock profiles at TD Ameritrade have more information on them compared to J.P. Morgan Investing’s equity profiles. Additional pieces of information include:

  • SEC filings
  • Calendar of upcoming company events
  • Valuation using price ratios (in graphical format)
  • Peer comparisons
  • Reports from no less than 8 analysts
  • Smart score from TipRanks
  • Income estimator

Winner: TD Ameritrade


Last Category: Other Services

Fractional Shares: Both brokerage firms in this contest still provide trading in stocks and ETFs only in whole shares.

Periodic Mutual Fund Investing: But here, the situation is the opposite. Both firms offer recurring purchases of mutual fund shares. Neither charges anything for the service.

Extended Hours: Only TD Ameritrade clients can buy and sell securities before the market opens and after it closes.

Individual Retirement Accounts: Bother broker-dealers offer IRAs. TD Ameritrade has more IRA types, including small business plans. J.P. Morgan Investing has a $75 termination fee. TD Ameritrade does not.

Initial Public Offerings: TD Ameritrade customers can sign up for IPOs on the company’s website. The IPO hub can be found under the Trade tab in the top menu.

DRIP Service: Both TD Ameritrade and J.P. Morgan Self-Directed Investing have Dividend Reinvesting Plans. There is no charge for either one.

Cash Management Features: Banking tools and features are available to both TD Ameritrade and J.P. Morgan Investing clients. Despite the latter’s affiliation with Chase Bank, TDA has better features (such as no account fees).

Winner: TD Ameritrade


Promotions

TD Ameritrade: $0 stock/ETF trades + transfer fee refund.

JP Morgan Chase: Get up to $625 when you open and fund a J.P. Morgan Self-Directed Investing account.



Our Recommendations

Small Accounts: J.P. Morgan Automated Investing unfortunately has a $500 deposit requirement. Neither brokerage house in this rivalry has any minimums or ongoing fees for self-directed accounts.

ETF & Stock Trading: TD Ameritrade has a high-level desktop platform called thinkorswim. There are no fees or minimums to use it. We recommend this program for stock and ETF trading.

Mutual Fund Trading: TD Ameritrade has 5,877 mutual funds that are open to new investors. On this list, 3,508 have neither load nor transaction fee. J.P. Morgan Investing has 3,029 funds, all of which have no load and no transaction fee. We would choose TD Ameritrade.

Beginners: A robo account with J.P. Morgan Automated Investing seems best, although TD Ameritrade’s desktop platform does offer simulated trading at no charge.

Long-Term Investors and Retirement Savers: This one is close. TD Ameritrade has a longer list of education and retirement accounts, although J.P. Morgan Investing has robo accounts with a glide slope feature.


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Open TD Ameritrade Account

Open JP Morgan Chase Account


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Updated on 5/12/2022.

Disclosure

INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

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