J.P. Morgan Self-Directed Investing: Platform Profile

Overview

J.P. Morgan Self-Directed Investing is a bank-integrated brokerage designed around Chase.com and the Chase Mobile app.

Current product access includes:

• U.S.-listed stocks;
• ETFs;
• fractional shares;
• listed options;
• mutual funds;
• money market funds;
• U.S. Treasuries;
• other fixed income;
• Traditional and Roth IRAs;
• margin;
• a bank-deposit cash sweep.

The platform's main advantage is not specialized trading technology.

It is integration with the wider Chase/J.P. Morgan relationship.

May fit better for

• existing Chase customers;
• long-term stock and ETF investors;
• investors who want $5 fractional purchases in eligible large-cap securities;
• mutual-fund investors;
• Treasury investors;
• IRA investors;
• investors who value banking and brokerage inside the same app.

May fit less well for

• futures traders;
• direct-crypto traders;
• active traders seeking highly specialized desktop software;
• options traders looking for a contract fee below $0.65;
• investors who need non-U.S. securities trading;
• users who want a publicly posted fixed cash-sweep yield.

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Legal identity

Investment products and services are offered through:

• Legal name: J.P. Morgan Securities LLC
• FINRA CRD: 79
• SEC registered broker dealer: Yes
• FINRA member: Yes
• SIPC member: Yes
• Investment adviser registration: Yes
• Parent company: JPMorgan Chase & Co.

J.P. Morgan Securities is separate from:

• Bank affiliate: JPMorgan Chase Bank, N.A.

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Self-directed account relationship

Current Form CRS states that self-directed brokerage accounts allow customers to make their own investment decisions and trades.

Research tools and screens do not turn the self-directed account into a managed account.

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Online pricing

Current pricing:

• Stocks:
• Online commission: $0
• ETFs:
• Online commission: $0
• Options:
• Online base commission: $0
• Contract fee: $0.65
• Mutual funds:
• Online transaction fee: $0
• Money market funds:
• Online transaction fee: $0
• US Treasuries:
• Online secondary trade fee: $0

Fund expenses and regulatory fees can still apply.

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Options cost example

For 10 contracts:

10 × $0.65 = $6.50

for the stated contract fees before applicable regulatory charges.

A call-in options order adds:

• Call in options:
• Trade fee: $25
• Contract fee: $0.65

Self-service execution therefore matters to total cost.

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Fractional shares

Fractional trading is a current feature.

• Fractional shares:
• Minimum: $5
• Eligible universe:
• eligible S&P 500 stocks
• eligible NASDAQ 100 stocks
• eligible ETFs
• Market orders: Yes
• Fractional precision: up to 5 decimal places

The feature is not a universal fractional-share program for every listed security.

"Every stock at J.P. Morgan can be purchased fractionally."

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Fractional crypto ETF access

Current platform features specifically market fractional access to eligible cryptocurrency ETFs.

This is securities exposure to crypto-related funds.

It is not a direct spot-crypto account.

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Mutual funds

Current platform page states that Self-Directed Investing offers:

• Mutual funds:
• Online trade fee: $0
• Broad provider selection: Yes

The page identifies providers including:

• BlackRock;
• Vanguard;
• Fidelity;
• J.P. Morgan.

Fund expense ratios and other fund-level costs remain.

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Treasuries and other fixed income

Current pricing:

• US Treasury bills notes bonds:
• Online secondary fee: $0
• Other secondary fixed income:
• Base trade fee: $10
• Per bond fee over 10 bonds: $1
• Maximum: $250
• New issue brokered CDs:
• Transaction fee: $0
• Selling concession in price: Yes

Treasuries and other secondary bonds use different pricing.

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Full transfer and wire fees

Current pricing:

• Full brokerage transfer out: $75
• Retirement full distribution or transfer out: $75
• Wire transfer: $25

These are not trading commissions.

They matter when leaving the platform or moving assets externally.

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Margin

Current published margin formula:

• Margin spreads:
• 0 to 25000: Prime + 4.75%
• 25001 to 50000: Prime + 4.50%
• 50001 to 100000: Prime + 4.00%
• 100001 to 500000: Prime + 3.75%
• 500001 to 1000000: Prime + 3.00%
• 1000001 to 3000000: Prime + 2.50%
• 3000001 to 10000000: SOFR + 2.35%
• Above 10000000: SOFR + 1.85%

The actual APR changes when Prime or SOFR changes.

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Cash sweep

J.P. Morgan Self-Directed Investing customers can elect the:

• Cash sweep: JPMorgan Chase Deposit Account
• Type: bank deposit sweep

Current public sweep page does not publish a numeric Self-Directed sweep yield.

It directs customers to contact the Client Service Center for current Self-Directed sweep rates.

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Cash sweep protection distinction

Cash that is swept into the applicable JPMorgan Chase deposit account is a bank deposit subject to bank-deposit terms and FDIC rules.

Investment securities remain brokerage assets.

"J.P. Morgan Self-Directed accounts are FDIC insured."

Use product-specific language.

• Brokerage SIPC: Yes
• Bank deposit sweep FDIC context: Yes
• Investment market loss FDIC: No

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IRAs

Current retirement pages support:

• Traditional IRA: Yes
• Roth IRA: Yes
• Fractional shares in Self Directed IRA: Yes

Current rollover materials also support transfers/rollovers into eligible J.P. Morgan IRAs.

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International securities limitation

Current trading FAQ states:

• Non US securities direct trading: No
• US listed ADRs: Yes

That distinguishes J.P. Morgan Self-Directed from brokers with direct access to multiple foreign exchanges.

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Platform and tools

Current features include:

• Chase Mobile integration;
• Chase.com trading;
• watchlists;
• performance views;
• custom/preset screens;
• stock/ETF/mutual-fund screens;
• fixed-income tools;
• margin;
• fractional shares.

This is a consumer brokerage platform.

Assessment

J.P. Morgan Self-Directed Investing is strongest for investors who already live inside the Chase ecosystem.

The platform now covers more than the basic stock brokerage it once resembled:

• $5 fractional shares;
• broad $0 online mutual-fund access;
• $0 online Treasury trades;
• options;
• money market funds;
• margin;
• IRAs.

The tradeoff is specialization.

Options still cost $0.65 per contract.

Foreign-market access is limited.

There is no current direct-spot-crypto account in the product set supplied here.

The most important distinction is between the brokerage and the bank:

J.P. Morgan Securities holds the investment relationship. JPMorgan Chase Bank provides the separate deposit sweep.

That is how SIPC and FDIC language should be rendered.