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

Overview of Chase Brokerage Account and E*Trade

E*Trade has a new rival in the brokerage world, and like E*Trade itself, this new brokerage firm is affiliated with a bank. Chase’s new broker-dealer You Invest offers trading in several investment vehicles, but fails to succeed in some areas. It does have strengths over E*Trade, however. Let’s check out these two firms.


Broker Cost

Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
Chase $2.95 $0 na $0 $0
Etrade $6.95 $19.95 $6.95 + $0.75 per contract $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
Etrade
Firstrade


Trading Software

When we logged into our You Invest test account, the first thing we noticed is how simple it is. There is no trade bar, nor is there a browser platform. With further investigation, we discovered that Chase doesn’t offer a desktop platform, either. So it’s just the website here, and it’s very plain.


JP Morgan vs Etrade


You Invest’s charting is pretty basic, although comparisons and company events are available. We found about 20 technical studies and 4 chart styles. A graph cannot be detached or displayed the width of the monitor.

E*Trade offers a much better website with more information on it, although the broker fails to provide a trade bar. What it does offer is a browser platform called Power E*Trade. It offers much better charting than You Invest. For example, a graph can be detached and blown up the full size of the monitor. E*Trade’s platform also offers more technical studies.


Etrade vs JP Morgan Chase


If you would rather use a browser-based system, E*Trade offers plenty of good trading tools on its website as well. Charting is just as sophisticated there as on the browser platform. If you want an advanced order ticket, stick with the browser platform.


Mobile Platforms

The You Invest mobile app is the same that Chase Bank customers use, but securities accounts get different features. For example, there is no funds transfer or mobile check deposit for brokerage accounts. Charting is very basic on the mobile platform.

E*Trade’s app comes with much more advanced features, including charting with comparisons and technical indicators. Plus, a graph can be rotated horizontally. One really nice feature on the E*Trade app is free Bloomberg Business News, and it’s in high definition.

The E*Trade app offers Level II quotes; whereas You Invest does not provide this information, even on its website. E*Trade offers a platform for smartwatches, while Chase does not. Both mobile apps can be used with Touch ID.


Customer Support

An E*Trade representative can be contacted anytime of the night or day, 365 days of the year. The broker-dealer offers a phone number for customers who are traveling outside North America. And we especially like its online chat service where we have consistently received competent service.

For investors who prefer in-person service, E*Trade has a branch network with about 30 locations in multiple states. And finally, there is a self-service section on the E*Trade website where many tasks can be performed without any assistance. Some of the functions we found include submitting a travel notice and enrolling in e-statements.

You Invest doesn’t offer 24/7 service. The broker opens at 8:00 am and closes at 9:00 pm. There are no Sunday hours, and Saturday hours are just 9 to 5. Despite the plethora of Chase locations, at this time You Invest has none. There is also no chat service on its website, another weak spot.


Mutual Funds and ETF’s

After we logged into our trial You Invest account, we used the site’s mutual fund screener to find exactly 2,531 products available for purchase. This is a small list, but all of the funds come with zero load and zero transaction fee.

At E*Trade, we found 8,459 mutual funds that were open to new investors. Over 4,000 were no-load, no-transaction-fee funds, a much larger list than You Invest has. Furthermore, E*Trade’s mutual fund center is much more extensive than You Invest’s. For example, E*Trade offers an All-Star List of pre-screened funds that are expected to outperform other funds.

As for exchange-traded funds, both brokerage houses offer them, but only E*Trade has a list of commission-free funds. As with mutual funds, E*Trade does a better job of offering ETF resources.


Banking Features

Although You Invest is part of the JPMorgan family of financial companies, the brokerage firm surprisingly doesn’t offer any cash management tools, such as checks and a debit card. We did find these at E*Trade, and there is no charge for them. A balance of $5,000 comes with free ATM withdrawals.


Investment Research

You Invest is a basic trading platform with a bare minimum of features. It does not offer a lot in terms of security research or education; although we did find a few helpful resources. For example, on a stock’s profile page there is a link to a pdf report. There are also news articles for stocks and ETF’s, plus currency rates and indexes.

E*Trade does much better in this category. A stock’s profile page has more information on it. We found equity reports from ten independent analysts, for example. Insider trading activity is also shown. For general investing education, the E*Trade website offers materials on retirement, fixed-income, futures, chart analysis, and more.


Recommendation

For options and futures traders, we have to recommend E*Trade. You Invest doesn’t offer these products, so it’s an easy choice.

For mutual funds, we have to go with E*Trade as well. Chase’s list isn’t large enough, and its fund resources pale in comparison to its rival’s.

For retirement savers, we think E*Trade is the better firm as well. The company has more IRA types than You Invest. And its retirement tools are better, too.

Small investors will have an easier time opening an account with Chase You Invest with its $0 opening deposit requirement. E*Trade requires $500.

Day traders and other active investors should go with E*Trade due to the company’s trading tools and discounts for high-volume trading. A desktop platform is still available for customers who meet a minimum level of trading.


E*Trade vs JP Morgan Chase Brokerage Summary

Chase You Invest has tried to rival E*Trade, but as of right now, it has mostly failed. If you qualify for free trades at You Invest, it may be worth it.


Continue Reading