JP Morgan unveils digital brokerage app for trade and investments

Wednesday 22 August 2018 11:00 CET | News

 JP Morgan Chase has launched a digital brokerage service for free trades, along with a portfolio building tool and access to equity research.

The US-based bank is rolling out a digital investing service next week that comes bundled with free or discounted trades, a portfolio-building tool and no-fee access to the bank’s stock research. Anyone who downloads JP.Morgan’s mobile banking app or uses its website can get 100 free trades in the first year, an offer that becomes permanent for those with Premier-level bank accounts, which require a combined $15,000 held at the bank.

Those with Chase Private Client, a higher account that typically requires at least $100,000 in holdings, get unlimited trades. The bank is currently considering adding other tiers that would incentivise people to pull money from other brokerages.

Users can also construct portfolios with an automated tool called portfolio builder by inputting their risk tolerance and objectives. In a recent demonstration, a client was able to screen through ETFs, most of which came from competitors including Vanguard.

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Keywords: JP Morgan Chase, digital brokerage, trade finance, investments, equity research, US, digital investing service, mobile banking app, Premier-level bank accounts
Countries: World