According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- £1
- Proprietary online platform
- Chase Mobile
- 1:1
- Professional support of the traders is available, it is possible to trade automatically using JPMorgan advisor, there are no desktop platforms, you need to have an account at JPMorgan Chase Bank in order to open an investment account
Our Evaluation of Chase
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Chase is a moderate-risk broker with the TU Overall Score of 5.53 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Chase clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
Chase is an investor-oriented broker, while it is suitable for individual trading only for the US citizens.
Brief Look at Chase
Chase is an international financial holding company, which was created through mergers of several major banks in 2000. At the moment, Chase carries out brokerage activities through J.P. Morgan Europe Limited The company offers a wide range of instruments for trading at the stock exchanges. The company is headquartered in London. J.P. Morgan Europe Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (124579) and the Prudential Regulation Authority.
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- FCA regulation.
- No minimum deposit requirement.
- Online banking from JPMorgan Chase Bank enables users to perform online transfers for free.
- Access to automatic investing using a robot advisor with an account balance of at least £500.
- Zero commission for trading stocks, ETFs and bonds.
- No cryptocurrencies on the list of trading instruments.
- No online chat.
TU Expert Advice
Author, Financial Expert at Traders Union
Chase provides access to trading over 5,000 financial instruments, including stocks, bonds, options, and ETFs through a proprietary online platform and Chase Mobile app. This setup includes automated trading with the JPMorgan advisor, making it ideal for both novice and experienced traders in the U.S. There is no minimum deposit, and trading involves zero fees on stocks, ETFs, and bonds. The platform facilitates online banking transfers through JPMorgan Chase Bank.
However, the requirement to maintain a minimum account balance of £15,000, or a £35 monthly fee, may deter traders with smaller capital. Additionally, Chase lacks real-time client support via live chat and does not offer cryptocurrencies. Consequently, while Chase can be a suitable option for traders focused on traditional assets, it may not align with those seeking cryptocurrency trading or with limited funds.
Chase Summary
| 💻 Trading platform: | Proprietary online platform, Chase Mobile |
|---|---|
| 📊 Accounts: | General Investment, Traditional IRA, Roth IRA |
| 💰 Account currency: | GBP |
| 💵 Deposit / Withdrawal: | Online banking by JPMorgan Chase Bank, wire transfer via other financial institutions |
| 🚀 Minimum deposit: | 1 GBP |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | No data |
| 💱 EUR/USD spread: | No |
| 🔧 Instruments: | Stocks, options, ETFs, mutual funds, fixed income instruments |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No data |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | No |
| ⭐ Trading features: | Professional support of the traders is available, it is possible to trade automatically using JPMorgan advisor, there are no desktop platforms, you need to have an account at JPMorgan Chase Bank in order to open an investment account |
| 🎁 Contests and bonuses: | Yes (only for the holders of JPMorgan Chase Bank debit/credit cards) |
Chase offers online trading on the website or in a Case Mobile app with zero commission on a wide selection of stocks, ETFs and mutual funds. At the client’s wish, there is support provided on the trades, it is possible to trade automatically using a JPMorgan advisor. The minimum deposit for all account types is £0. For investing with the robot advisor, you will need to deposit at least £500 on your account.
Chase Key Parameters Evaluation
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Trading Account Opening
To create a user account with Chase, register on its official website following the instructions below. This service is currently limited to U.S. residents.
Click “Open an account”.
Tick the “No, I’m not a customer” box and proceed by clicking “Get started”.
Fill in the registration form with your personal details.
Provide your contact details.
Next, provide your Social Security Number and a valid government-issued ID document, such as a driver’s license. Once your data is verified, you receive your login credentials.
Regulation and safety
J.P. Morgan Europe Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (124579) and the Prudential Regulation Authority.
Chase ensures protection of customer funds up to a total of £85,000 under the Financial Services Compensation Scheme. It is one of the most reliable UK's deposit guarantee scheme.
Advantages
- Personal data security
- Protection against fraud
- Provision of monthly reports
- Expanded risk scoring
Disadvantages
- The funds are kept on the company’s internal accounts
- Withdrawal only to the bank account
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| General Investment | from £1 | No |
| Traditional IRA | from £1 | No |
| Roth IRA | from £1 | No |
For withdrawals to third-party accounts, the recipient banks / intermediaries may charge additional commission. Traders Union analysts also compared commissions for trading stocks on Chase.com and other brokers with similar trading conditions. The results of the comparison are available in the table below.
| Broker | Average commission | Level |
|---|---|---|
|
£1 | |
|
$4 |
Account types
Chase offers its clients three types of accounts. The choice of the account depends on the client and the assets he/she is interested in.
Account types:
The broker does not have a demo account for test trading without the risk of financial losses.
In addition to independent trading, Chase offers assistance in performing trades and automatic trading, which makes the broker interesting not only to experienced traders, but also to the beginners.
Deposit and withdrawal
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Opening an internal bank account at Chase is one of the conditions of working with the broker. The money from the trading account is withdrawn to this bank account.
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In order to withdraw funds, a client needs to fill out an application and send it to an email or fill out a form on the website.
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Instant zero commission transfer is available via online banking. If the client transfers funds to another financial organization, the recipient bank / intermediary may charge a commission for payment processing.
Investment Options
Chase offers its clients an opportunity to invest their capital in over 5,000 financial instruments, including using the Robo-Advisor.
Chase innovative solution — investment with JPMorgan advisor
The robot offered by Chase checks the options of how the market volatility may impact the instruments the investor invests money into using 1,000 scenarios. After this, the client gets a professionally built investment portfolio, which will be automatically rebalanced in the future. The minimum amount to start investing with a robot advisor is as little as £500. The company offers services in four main areas:
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Savings and investment solutions for small businesses.
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Corporate strategies for raising capital, including syndication.
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Asset management and ready financial solutions for medium and large organizations.
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Work with multi-active investment and retirement solutions.
Chase offers the Markets & Securities service on primary brokerage servicing and risk management, which also ensures administration and accounting.
If you are a large investor and plan on investments over £10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Chase’s affiliation program
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Referral program — the broker pays £50 to a partner for each new client, who registers on the referral link. The number of referred clients is limited to 10 people per year.
In order to participate in the program, a user needs to submit an application on the broker’s website and receive a unique link, which will be used by potential clients to register in the future.
Customer support
Technical support on security issues operates 24/7. Support to the clients on the issues related to trading is provided on working days from 08:00 am until 12:00 am, and on Saturdays and Sundays from 09:00 am until 6:00 pm. There is a separate contact number for relay calls made by deaf people or people with hearing impairment or speaking disability.
Advantages
- Possibility to communicate in a video chat
- There are operators for the disabled people
- Security service is available 24h
- Support languages: English and Spanish
- Fax is available
Disadvantages
- No online chat
- No 24h support
The following methods of contacting customer support are available:
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A phone call at the numbers specified on the website;
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Fax;
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Email;
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Feedback form.
Not only registered users, but also traders without registration and account opening can contact a company’s representative.
Contacts
| Foundation date | 1977 |
|---|---|
| Registration address | 25 Bank Street, Canary Wharf, London, E14 5JP, United Kingdom. |
| Regulation |
FCA
Licence number: 124579 |
| Official site | https://www.chase.co.uk/ |
| Contacts |
0800 376 3333, +44 203 493 0829
|
Education
There is no special Education section on www.chase.com website. However, those who do possess stock market trading skills can find useful information in the FAQ section. In addition to answers to popular questions, there are also articles by professional traders and investors on the website.
After opening an account, you can use the recommendations of the personal managers on how to trade. Demo account is not available, which is why the consultant’s advice is the only way to get practical experience.
Detailed Review of Chase
Chase offers independent and automated trading on all account types. Connecting a robo-advisor or support of the traders by the company’s consultants provides an opportunity for the traders with no experience to earn money on stock markets. Thanks to online banking, the clients can start trading immediately after completing the registration procedure, provided that they have a balance of funds in their own bank account.
Chase achievements in figures:
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Over 4,500 offices in the U.S. and European countries.
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Bank assets total GBP 2.5 trillion.
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In 2020, over 5 billion transactions were processed on behalf of the clients.
Chase is a broker with comfortable conditions for traders with any level of training.
Chase is a brokerage company offering access to trading of over 5,000 financial instruments, including stocks, bonds, options and ETFs. The website of the company features access to economic news for fundamental analysis and the trading platform has proprietary indicators and diagrams built in, which allow you to develop your own strategy. User-friendly interface offers a wide set of functions of graphic instruments for building charts and technical levels.
Chase trading online platform is available on any device connected to the internet; it is compatible with all existing operating systems and works on all Internet browsers. The broker also developed a mobile app available for iOS and Android for the clients who don’t always have access to their desktop devices. It can be downloaded and installed on Google Play Market or App Store depending on the model of your phone.
Useful services offered by Chase:
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Community & Leaders — a section with economic articles.
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Money Matters — information on the types and methods of investment.
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News & Stories — news and events section.
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Indicators — indicators of technical market analysis, including proprietary ones, which are popular among traders.
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Overview — detailed overview of pricing in trading with Chase.
Advantages:
The money kept on own bank accounts provides a possibility to the clients to perform transactions at any time of day and night.
Support of the trades by the company’s consultants is available. It is a useful feature for novice traders.
Automated trading is available.
Own regulation of performed trades.
Wide range of financial instruments with no broker commission charged.
Availability of a mobile app for trading on smartphones.
Position hedging is available. There are no limitations on the number of performed transactions for intraday trading.
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