Introduction

Fidelity and J.P. Morgan Self-Directed Investing both come with well-known financial names. But which of these two brokerage firms offers the stronger trading experience? We have the answer.

J.P. Morgan and Fidelity Fees

First Category: Tradable Assets

J.P. Morgan Self-Directed Investing provides access to the following investment products:

• Equities (on U.S. exchanges)
• Fixed income
• Options
• Funds (mutual, exchange-traded, and closed-end)

At Fidelity, the list is similar, but the broker adds cryptocurrencies, life insurance, annuities, and foreign-stock trading in 25 countries with access to 16 currencies.

Fidelity also offers portfolio management. Its digital service charges 0.0% for accounts under $25,000 and 0.35% per year for accounts of $25,000 or more. Traditional advisory programs are available with a range of fees, minimums, and investment vehicles. Fidelity says account investment minimums include $50,000 for Fidelity Wealth Services, $100,000 for a Fidelity Strategic Disciplines equity strategy, $200,000 for taxable bond strategies, and $250,000 for municipal bond strategies.

Winner: Fidelity

Second Category: Margin Trading

Fidelity self-directed customers can use borrowed funds to buy more securities if they choose. Of course, there is a cost for this service. The brokerage firm charges between 11.825% and 7.525% for debit balances. It takes a million bucks to qualify for the lowest rate.

Margin accounts are also available with J.P. Morgan Self-Directed Investing. Margin rates range from 9.25% to 11.5%. However, short selling is not permitted.

Winner: Fidelity

Third Category: Websites

When we logged into our Fidelity test account, the dashboard layout immediately made a good impression, with several functions shown in tiles. A search bar in the upper-right corner makes it easy to locate a stock or fund (and screeners are available for this purpose, too).





Fidelity’s trade ticket comes in two versions: an advanced layout and a simpler form. The advanced version has several order types and duration choices.

Charting on Fidelity’s website can be opened in full-screen mode and includes several tools, such as color customization and the ability to save a chart as a spreadsheet.

The J.P. Morgan Self-Directed Investing site is the same platform Chase Bank customers use. One login shows multiple financial accounts, including brokerage and banking accounts. Investing accounts have charts with tools, but there is no full-screen mode.





J.P. Morgan Self-Directed Investing’s trade ticket includes real-time data with multiple duration choices and order types. Options and bonds have separate trade tickets that are easy to use.

Winner: Fidelity

Fourth Category: Desktop Programs

In addition to its strong website, Fidelity has built desktop trading software. Active Trader Pro remains available, and Fidelity now also offers Fidelity Trader+ Desktop, a newer downloadable platform rebuilt from the legacy Active Trader Pro system. During our testing of Active Trader Pro, we really liked these features:

• Conditional trade ticket
• Basket order form that can send multiple trades simultaneously
• Level II quotes
• Streaming video news
• Advanced option tools with spreads

J.P. Morgan Self-Directed Investing does not have a desktop platform, but it should!

Winner: Fidelity

Fifth Category: Mobile Apps

Fidelity does not stop with desktop software, either. The brokerage firm has an excellent mobile app with many useful education and investment widgets. For education, there are podcasts, on-demand webinars, news-article tiles from providers such as Reuters and Bloomberg, a learning center, and more.





On the investing side, Fidelity’s app has a trade ticket with several order types and duration choices. Mutual funds can be traded on the app, and integrated options spreads are available, too.

The J.P. Morgan Self-Directed Investing app is built into the Chase Bank app. The brokerage side has an order form with several order types and duration choices. Calls and puts can be traded, but there are no multi-leg strategies. Mutual funds can be researched and traded as well.





Besides phones, both firms have apps designed for tablets. Fidelity, but not J.P. Morgan Self-Directed Investing, has software for Apple Watch.

Winner: Fidelity

Sixth Category: Extra Services

Periodic Mutual Fund Investing: Both firms allow recurring mutual fund investments.

DRIP Service: Available at both brokerage houses.

Banking Tools: A Chase Bank account can be linked to a J.P. Morgan Self-Directed Investing account. The latter does not have any cash management features itself. Fidelity has the Cash Management Account, a separate brokerage account with ATM fee reimbursements and expanded FDIC insurance through multiple program banks (features that are not available directly through J.P. Morgan Self-Directed Investing).

Individual Retirement Accounts: Fidelity customers get to choose from a larger selection of IRAs.

Fractional Shares: For stocks and ETFs, both Fidelity and J.P. Morgan Self-Directed Investing offer the ability to trade in whole dollars.

Extended Hours: Only available at Fidelity.

Initial Public Offerings: Available at Fidelity.

Winner: Fidelity

Recommendations

Mutual Fund Trading: On the Fidelity website, we found 9,581 funds open to new investors. Over at J.P. Morgan Self-Directed Investing, we found 3,043. Fidelity also has stronger fund resources. We definitely recommend Fidelity.

ETF & Stock Trading: With Fidelity’s very good desktop platform, this one is an easy call. Fidelity’s website also provides more complete ETF resources.

Beginners: We recommend Fidelity’s robo service for novices. For self-directed trading, Fidelity has stronger educational materials, including a free weekly newsletter, online coaching sessions, live and on-demand webinars, in-person events, branch locations, learning articles and videos, and much more.

Small Accounts: There are no minimums for self-directed traders. Fidelity’s robo service has no minimum to open and starts investing once the account reaches $10.

Long-Term Investors and Retirement Savers: Fidelity’s human advisors can provide financial planning and more. Fidelity also has many long-term tools on its website for self-directed clients, including goal planning, annuities, 529 plans, college saving, wealth management, charitable giving, and more.

Fidelity vs J.P. Morgan Summary

Fidelity won every category in this comparison. Although J.P. Morgan Self-Directed Investing has a well-known name, that doesn’t mean it offers the stronger trading experience.

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