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You Invest Trade FAQs

You Invest Trade

Frequently asked questions

Overview & Pricing

What is You Invest Trade?

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A You Invest Trade brokerage account lets you trade stocks, bonds, mutual funds and exchange-traded funds (ETFs) online on your own. Learn more about what you can do with You Invest Trade.

 

See our step-by-step guide on how to open an account.

What are the fees and commissions associated with a You Invest Trade account?

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You can learn more about fees and commissions associated with a You Invest Trade account here

How will I know how many free U.S. equity and ETF trades I have available? 

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If you’ve received 100 free trades, the trade counter (at the top right on your “Order Entry” page) shows the total number of free trades remaining, along with the expiration date. Sapphire Banking, Chase Private Client, J.P. Morgan Securities and U.S. Private Banking customers receive unlimited free trades so there’s no counter. 

If I don’t use all of my free U.S. equity and ETF trades within the year, do they roll over?

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Your free trades are valid for 1 year only and don’t roll over. If you’re a Premier Plus checking customer, we’ll award you 100 new free trades each year. If you’re a Sapphire Banking, Chase Private Client, J.P. Morgan Securities or U.S. Private Banking customer, you’ll continue to receive unlimited free trades.

What happens if I’ve used up all my free U.S. equity and ETF trades? 

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You can still make trades even if your free trades have run out or expired—we’ll just charge you the standard commission.

What online trading services does J.P. Morgan offer?

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J.P. Morgan currently offers You Invest Trade, an online self-directed brokerage account in which you can trade stocks, ETFs, mutual funds and fixed income products online. To purchase other types of investments, please contact your J.P. Morgan Advisor.

How do I place a trade in my investment account?

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In the top menu, choose “Investments,” then “Trade.” Then choose the kind of products you’d like to trade: stocks, ETFs, mutual funds or fixed income. 

What does “account value” mean?

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Your account value is the current market value of your account in U.S. dollars. Depending on the securities you own, it could reflect intraday values, which may change during market hours (9:30 AM to 4 PM ET).

I want to learn about investing but am not sure where to begin. What's my first step?

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You can find out more about investing at chase.com. In the top menu, choose “Investments” then “Learning & Insights" to explore available articles and tips.

Do I earn interest on the cash held in my investment account?

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We put all the cash in your investment account in a bank deposit sweep account, which earns interest. You can see current bank deposit sweep rates here.

When can I place trades online?

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You can place trades online anytime between 6 AM and 2 AM ET. After hours trading isn't available at this time. All orders placed outside of normal trading hours (9:30AM - 4PM ET) will be queued.

Portfolio Builder

What is Portfolio Builder?

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Portfolio Builder is a tool that enables customers with an existing You Invest Trade account to create an asset allocation, based on their answers to a few questions about their investment goals, time horizon and risk tolerance. Customers can also use Portfolio Builder to select securities to fit their allocation and place trades to create their portfolio. There is a $2,500 minimum to use the Portfolio Builder tool.

Why should I use Portfolio Builder?

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Portfolio Builder is a great tool for clients who want to make their own investment decisions but need help with creating a portfolio that fits with their goals, time horizon and risk tolerance.

How much do I need in my account to use the Portfolio Builder tool?

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To create a portfolio with the Portfolio Builder tool, you must have a minimum available cash balance of $2,500 in your selected account.

What securities can I choose from to create my portfolio?

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Our Portfolio Builder tool allows you to select and trade ETFs and stocks across a variety of asset classes, including U.S. and international equities, core fixed income and commodities/other.

How can I compare different investment options within the portfolio?

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You can use our Compare tool on your “Pick Your Funds” page to compare up to five (5) securities at a time.

What does risk tolerance mean?

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Figuring out your risk tolerance is an important step in finding which investments may be best for you. Three main factors help determine your risk tolerance:
 

  • Your “goals”: What are your specific goals for investing?
  • Your “time horizon”: How long do you plan to hold your investments for?
  • Your “risk appetite”: How comfortable are you with large swings in the value of your investments?

Can I choose only investments that correspond to my risk profile's target allocation?

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Because you’re using the Portfolio Builder tool with your You Invest Trade account, you can choose whatever investments you want, even if it falls outside of your risk profile’s target allocation. We’ll alert you that you’re moving outside of your target allocation, but you always make your own investment decisions.

Why do different portfolios have different returns in the chart on the getting started page?

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The different portfolios and estimated returns reflect various risk tolerance levels, based on the underlying investment allocations. This chart is generated by J.P. Morgan’s patented Morgan Asset Projection System (MAPS)®, a proprietary tool we developed to help you compare potential allocation strategies. MAPS helps you compare potential outcomes of each strategy to see which could most likely meet your needs. Learn more about this chart.

Do I have to buy a security from each asset class?

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You don’t need to purchase a security from each asset class if you don’t want to. We’ll notify you if you change your target allocation by excluding certain asset classes.

Can I buy options or mutual funds in the Portfolio Builder?

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You can only buy ETFs and stocks in Portfolio Builder.

Can I place an order when markets are closed?

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Orders placed when the markets are closed will be queued and executed when the markets open.

Do I have to complete building my portfolio in one sitting?

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We’ll save the portfolio you created for 30 days so you can come back later to execute your trades.

Can I add more securities to my portfolio after I’ve made my initial purchases using Portfolio Builder?

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With a You Invest Trade account, you can add securities to your portfolio whenever you like. From your account dashboard, choose “Investments” and then “Trade.”

Stocks & ETFs

Can I trade penny stocks or other securities that aren’t listed on a stock exchange?

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We don’t allow clients to buy (and have certain restrictions on the sale of) penny stocks in You Invest Trade accounts. We define a penny stock as any security that is trading at a price of less than $5.00 and is not listed on a major exchange.

However, you can buy securities that aren’t listed on a major stock exchange but are trading at $5.00 or more in your You Invest Trade account. There may be restrictions on the sale of such securities if they trade below $5.00.

What investment order types are available?

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  • Market: A market order means you buy or sell stock based on current market price.
  • Limit: A limit order is an order to buy or sell a stock at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. A limit order is not guaranteed to execute.
  • Stop: This is an order to sell (or buy) at the market once the price of a security falls (or rises) to a designated level.
  • Stop Limit: A stop-limit order is an order to buy or sell a stock that combines the features of a stop order and a limit order. Once the stop price is reached, a stop-limit order becomes a limit order that will be executed at a specified Limit price (or better).

What "Time In Force" instructions are available?

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  • Day: Valid for the current trading day
  • Good 'Til Canceled: Remain active until they are canceled
  • On the Open: Condition to buy or sell at market open
  • On the Close: Condition to buy or sell as close as possible to market close
  • Immediate or Cancel: All or part of the order will be executed immediately or will be canceled

What are Estimated Maximum Shares?

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Estimated maximum shares refers to approximately how many shares of a given security you could buy, based on the cash you have available for trading. This calculation doesn’t include commission charges.

What's the difference between preferred and common stock?

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The main difference between the two types of stock is that holders of common stock typically have voting privileges, whereas holders of preferred stock may not. However, preferred stock holders generally have a greater claim to a company's assets. Typically, preferred stock offers higher dividend yield incentive.

Mutual Funds

What is the Net Asset Value (NAV)?

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The net asset value of a mutual fund is the fund’s value per share. The net asset value of a mutual fund equals the market value of its assets minus its liabilities, divided by the number of outstanding shares. The NAV is calculated once each day after close of the market.

What is a Short Term Redemption (STR) Fee?

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To discourage short-term trading, mutual funds often charge a short-term redemption fee if you sell your shares before the fund’s holding period requirement has ended.

What does the "load type" mean when I trade mutual funds?

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A load is a type of a commission that may be charged by a mutual fund. Depending on the fund, the following load types could be applicable:
 

  • Front-end is a sales charge investors pay upon the initial purchase of mutual fund shares. It is deducted from the investment amount and, as a result, lowers the size of the investment.
  • Back-end is a sales charge that investors pay when selling mutual fund shares. Generally, a back-end load is a percentage of the value of the share being sold and may decrease over time (usually 6 years).
  • Load-waived means that the sales charge normally paid by an investor when purchasing mutual fund shares has been waived. Owning shares in a load-waived fund is a benefit to investors because it allows them to retain all of their investment's return instead of losing a portion of it to fees. The fund’s prospectus explains when loads are waived.
  • No load means that mutual fund shares aren’t subject to any sales charge. This occurs because the shares are distributed directly by the investment company, instead of going through a secondary party.

What is the Estimated Sales Charge?

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Mutual funds may charge two types of sales charges: front-end load and back-end load. A front-end load fee is charged when you buy shares of a mutual fund. A back-end load fee is charged when you sell your shares of a mutual fund. Funds that don’t charge either kind of fee are generally called no-load mutual funds.

What is the Contingent Deferred Sales Charge (CDSC)?

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Certain mutual funds (generally, a fund’s Class B shares) may have a contingent deferred sales charge (CDSC) if you sell shares within a specified number of years after you buy them. Calculated as a percentage of the value of the shares being sold, the fee varies with each mutual fund and can start out at 5% or more. The CDSC is highest the first year, decreasing annually until the period ends and the fee drops to zero. It’s also known as a back-end load or sales charge.

Bonds and Fixed Income

What are bonds?

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Bonds are the most common type of fixed income securities. A bond represents a loan to the issuer (e.g., a corporation or government) for a certain period of time. In exchange, the issuer typically pays the bond holder interest until the bond matures. When the bond matures, the issuer repays the bond at its face value (or par value).

These are the main types of bonds:
 

  • Treasury bonds are issued by the U.S. government and are generally considered very safe.
  • Corporate bonds are issued by companies. Their risk varies, as reflected by a credit rating.
  • Municipal bonds are issued by states, their agencies and subdivisions, such as counties and municipalities.
  • Agency bonds are issued by federally-sponsored agencies, although these investments aren’t guaranteed by the federal government.
  • Zero coupon bonds are bonds issued at a deep discount to their face value but pay no interest.

What is accrued interest?

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Accrued interest is the interest you earn on a bond or other fixed income security that hasn’t been paid out. Accrued interest generally starts accumulating the day the purchase of a bond settles.

What is the difference between face value and market value?

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Face or “par” value is generally the amount the issuer (e.g., a corporation or government) is required to pay the bondholder when a bond matures. Face value stays the same overtime.

The market value of bonds and stocks is determined by the buying and selling activity of all investors on the open market. A bond can be purchased for more or less than its par value, depending on market sentiment. Upon maturity, the bondholder is paid the par value, regardless of the purchase price.

What is the difference between yield to maturity and the coupon rate?

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The coupon rate is the stated rate of interest paid on a bond.

The yield to maturity is the annual rate of return you earn if you hold a bond to maturity.

What does investment grade mean?

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An investment grade security has a relatively low risk of default. Only companies rated at 'BBB-' or higher by Standard and Poor's or Baa3 by Moody's are considered investment grade. Anything below those ratings is considered non-investment grade and carries a higher risk of default.