Compare JP Morgan Chase You Invest versus Robinhood: IRA, commissions, investing fees, trading tools, account differences, pros and cons. Which online broker is better in 2019?

Overview of Chase Brokerage Account and Robinhood

Robinhood and You Invest emphasize low-cost trading with minimal software and services. Each one does manage, however, to bring a lot to the table. This article will put them head-to-head and see which one is the over achiever.

Broker Cost

Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
Chase $2.95 $0 na $0 $0
Robinhood $0 na $0 $0 $0
Firstrade $0 $0 $0 + $0 per contract $0 $0

Services

Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
Chase
Robinhood
Firstrade

Who Has the Larger Range of Investments?

Chase’s low-cost broker You Invest has bonds, mutual funds, ADR’, stocks (including over-the-counter equities at $5 or above, and penny stocks on major U.S. exchanges), ETF’s, and closed-end funds.

Robinhood doesn’t offer trading in fixed-income assets or mutual funds. It does have American Depository Receipts, ETF’s, closed-end funds, options, crypto, and stocks. The last asset category includes American-based penny stocks that trade on the big exchanges. The broker offers a few OTC securities, and limited access to Canadian and Israeli exchanges.

Overall, it looks pretty even in this category.

Who Has the Better Trading Software?

The You Invest site is the only desktop trading environment the broker offers. There is no desktop platform, trade bar, or browser platform. The order ticket offers several duration choices: GTC, on-the-open, on-the-close, day, and immediate or cancel. Stop, limit, and market orders can be used. There is no direct-access routing or Level II data.


JP Morgan vs Robinhood


Charting is at a basic level. There is no full-screen mode, unfortunately; but there are technical studies, comparisons, four chart styles, and company events. Up to ten years of price data can be shown. A stock can be added to a watchlist.

Moving to Robinhood, we do find full-screen charting on the company’s website. There is no trade bar, browser platform, or desktop software. In addition to full-screen mode, there are two chart styles, and four technical indicators (You Invest has 21). Company events cannot be selected, another weakness compared to its rival. Like You Invest, there are no drawing tools.


Robin Hood vs Chase


Robinhood’s trading ticket offers an extended-hours option, something that’s missing on You Invest’s ticket. Order types include stop, market, and limit. There are fewer duration choices (just day and GTC). As with You Invest, Level II quotes and direct-access routing are nowhere to be found; but there is a watchlist.

Another tie here.

Who Has the Better Mobile App?

The You Invest app offers basic trading capability. Only a small chart is available with a maximum of 1 year of price data. Line is the only display choice. The app’s trading ticket is the same as the website offers. Mutual funds can be traded, a really nice feature.

Despite the simplicity of the trading features, there are news articles on market movements. The day’s big movers are shown. A customer service contact is integrated, stocks can be added to a watchlist (the same watchlist the website uses), and account balance over time is displayed. Touch ID is available (make sure you enable it in the settings). A recent addition to the app is mobile check deposit.

Robinhood’s app doesn’t provide Touch ID. Instead, a 4-digit PIN is required at each login. There is no mobile check deposit, but charting offers two display choices (line and candlestick). As with You Invest, Robinhood uses its web-based order form for the app’s order form. We found less data on markets compared to You Invest’s app. Two highlights are the ability to trade options and cryptocurrencies.

You Invest is successful here.

Who Is Better for Education and Research?

You Invest offers financial articles from JPMorgan on both its website and mobile app. They cover many important investing topics, such as how to trade earnings season, the basics of ETF’s, teaching children about money, and the differences between stocks and bonds. An Investing 101 section on the website has videos that cover topics such as volatility and how to build a portfolio.

Security profile pages at You Invest have brief data points, such as next earnings release date, EPS, beta, and price targets from JPMorgan. Some stocks also have pdf reports from the same source.

What we were most impressed by during our research was You Invest’s security search tools. It’s possible to scan for stocks, ETF’s, and mutual funds based on many criteria, such as sector, valuation, and performance.

Over at Robinhood, we found zero security screeners. The broker does display tags (such as energy and high volume) on a stock’s profile page. Clicking on one of these tags produces a list of stocks in the category, and the results can be sorted by several variables such as price.

There aren’t many education resources on the Robinhood site. There is a help area that hosts a FAQ on some trading questions, such as how to place a crypto order. Security profile pages at Robinhood are more brief that those we found at You Invest.

You Invest takes this category.

And What About Funds?

Since You Invest provides trading in mutual funds, and Robinhood does not, the former broker clearly is our choice in that category.

But exchange-traded funds isn’t so easy. While all ETF’s are commission-free at Robinhood, You Invest does offer free trades to some customers. Both brokerage firms also provide ETF profiles with some information; although You Invest definitely has more data.

You Invest succeeds again.

Other Services

You Invest offers automatic investing for mutual funds. The broker’s customers can enroll in a free DRIP service, but Robinhood traders cannot. You Invest has IRA’s, but Robinhood does not.

You Invest is obviously the better pick on these issues.

Our Recommendations

For new investors, we suggest You Invest over Robinhood due to the former broker’s selection of educational materials.

For long-term investing and retirement savings, You Invest once again is our choice.

For stocks and ETF’s, it’s a little more difficult. You Invest has better resources, but Robinhood has a slightly better commission schedule for most traders.

For options and cryptocurrencies, the obvious choice is Robinhood.

We can easily recommend You Invest for Chase Private Banking clients due to unlimited free trades.

Robinhood vs JP Morgan Brokerage Summary

JP Morgan You Invest had minimal competition in this survey and wins easily. Investors who can’t get free trades, though, should consider Robinhood.


Firstrade

Continue Reading