Looking for a trade partner in the US? Then you’re at the right place. Here we are providing you a review on Chase You Invest stock broker. We will be detailing the account opening, fees, pros and cons, and more.
Table of Contents
What is Chase You Invest?
Chase You Invest is a US based discount broker founded in 2018. It is operated under its parent company J.P Morgan, a big name in the US investment banking sector. Its parent company is listed on NYSE. Chase You Invest is regulated by the SEC and FINRA.
The company is considered safe because the parent company has a long track record and disclose its financial information on time.
Account Opening
Account opening process at Chase You Invest is very simple and fully digital. But however, it accepts clients only from the US.
What is the minimum deposit at Chase You Invest?
The required Chase You Invest minimum deposit is $0. This is ideal if you plan to invest small amounts. Bear in mind that if you want to use the Portfolio Builder service, you need to have a minimum account balance of $500.
Account types offered by Chase You Invest:
- Individual Brokerage Account – Account is owned and used by a single individual.
- Traditional IRA – Retirement account that gives you tax advantages. Joint version available too.
- Roth Individual Retirement Account (Roth IRA) – Retirement account that gives you tax advantages. Joint version available too.
How to open an account
- Your age (older than 18 or not)
- Social Security Number
- Your driver’s license, ID or passport for identity check
- Bank statement or utility bill for proof of residency
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Chase You Invest Fees:
Chase You Invest offers zero commission trading, but it charges small transactions fees. It charges low non trading, stock and ETF fees. Trading mutual funds at Chase You Invest is free of charge.
If you trade US Treasury bills, notes, bonds or corporate bonds, municipal bonds, government agency bonds, and brokered CDS on primary markets, you will not encounter any trading fees at Chase You Invest.
For secondary market bond trades, You Invest charges $10 per trade plus $1 per bond over 10 pieces of bonds traded (maximum fee is $250).
Foreign bonds are subject to additional fees.
Deposit and Withdrawal:
Both processes do not require any money. However if you are doing a transaction through ACH then you are not charged anything. But if you are making a transaction through wire transfer then they will charge you $25 in deposit and withdrawal both.
It supports deposit and withdrawal through bank transfer only. It does not allow debit/credit card or eWallet transactions.
How to withdraw money?
You can only withdraw money to accounts in your name.
You can withdraw money from Chase You Invest by following these steps:
- Log into the account
- Select “Pay & Transfer”
- Then “Transfer money”
- Select the You Invest Trade account as “Transfer from” and the other account as “Transfer to”
- Add the amount you wish to withdraw
- Initiate the withdrawal
Chase You Invest trading platform
Chase You Invest provides two types of trading platform: Web based and mobile application. Both the platforms are easy to use, but lack in good customizability and charting. It provides two step safer login.
But on the other hand, it has limited charting tools and does not have a price alert option.
Product offered
Chase You Invest has a limited product portfolio. It only deals in stocks, ETFs, funds, bonds and options.
Chase You Invest Asset Selection
| Stock markets (#) | 3 |
| ETFs (#) | 2000 |
| Fund providers (#) | 60 |
| Bonds (#) | 22000 |
| Options markets (#) | – |
Portfolio Builder
Chase You Invests’ Portfolio Builder service is a mix of mutual funds and robo-advisory. It is a great tool if you need help in managing your investments.
First, you have to answer questions about your investment goals, risk tolerance and the time horizon of your investments. The Portfolio Builder creates a portfolio based on your answers.
You have to commit at least $500 to start using the Portfolio Builder.
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Research and Education
Chase You Incest provides various research tools, involving charts, data bars, and news. However, these tools are poorly organized on their website. Chase You Invest provides fundamental information on its tools namely ‘Economic Analysis’ and ‘Market Pulse’.
It provides a range of educational tools :
- Webinars
- Demo Account
- Educational videos
- Tutorial videos
- eBooks
- Text PDF
Safety
It is regulated by top tier institutes like SEC & FINRA. The customers of Chase You Invest are protected by the SIPC protection scheme. The SIPC investor protection shields investors from the loss of cash and securities in case the broker goes bust. The limit of SIPC protection is $500,000 with a $250,000 cash limit.
| Pros | Cons |
| Commission-free US stocks, ETFs, funds and bonds | Available only to US clients |
| Well-established parent company | Limited product portfolio |
| Quick deposit and withdrawal – within 3 days | Low fees like transaction costs may be applied |
| Data on asset fundamentals | Credit/Debit card not available |
| High level of investor protection | High wire withdrawal fee for non-Chase accounts |
Customer Support
You can contact Chase You Invest through phone support and email. You’ll get a fast and reliable answer but It lacks 24/7 availability.
The Verdict
Chase You Invest offers awesome fees. The fully digital account opening is easy and fast, on-boarding is seamless. Chase You Invests’ parent company, J.P. Morgan, has a banking background, is listed on the New York Stock Exchange and is regulated by the SEC.
It has some drawbacks as well, it is available only for US clients. The asset portfolio is limited.
But as it charges no commission and no inactivity fee, feel free to give it a try.
Chase You Invest Review
Pros
- Well-established parent company
- Data on asset fundamentals
Cons
- Limited product portfolio
- Credit/Debit card not available
