J.P. Morgan Self-Directed Investing is a US securities brokerage for investors who choose their own holdings. Its brokerage relationship provides online tools and research, while investment decisions remain with the customer. The account, trading permissions and treatment of uninvested cash need separate attention.[2]
Account comparison01
Account and service routes at a glance
| Account / service | Contract and customer scope | Platform and principal condition |
|---|---|---|
| Self-Directed Investing | J.P. Morgan Securities LLC — United States; eligible US-resident applicants; retail clients | Chase.com / Chase Mobile. Eligible US applicants; identity and account approval required.Source 3Source 1 |
| Self-Directed Investing cash account | J.P. Morgan Securities LLC — United States; eligible US-resident applicants; retail clients | Chase.com / Chase Mobile. Fractional positions cannot transfer; eligibility list and order rules apply.Source 11Source 1 |
| General investment account / Traditional IRA / Roth IRA | J.P. Morgan Securities LLC — United States; eligible US-resident applicants; retail clients | Chase.com / Chase Mobile. No 0DTE, multi-leg or naked strategies; IRA margin unavailable.Source 8Source 1 |
Provider, registration and account relationship
Sections ↑Entities & regulation02
Who provides this service
| Item | Position |
|---|---|
| Contracting broker | J.P. Morgan Securities LLC (JPMS). FINRA’s named report identifies CRD 79 and SEC broker-dealer number 8-35008; its main office is 270 Park Avenue, New York.Source 1 |
| Current registration check | The retrieved BrokerCheck report shows FINRA and SEC registrations as Approved. Its regulatory, civil and arbitration disclosures remain available in the full report.Source 1 |
| Service scope | Self-directed brokerage, with web, mobile and telephone dealing. Full-service advice and managed portfolios use different relationships and charges.Source 2 |
Eligibility and account choices
Sections ↑Account comparison03
Opening requirements
| Question | Published requirement |
|---|---|
| Existing Chase customer? | Not required. There is no minimum opening balance for Self-Directed Investing.Source 3 |
| Adult applicant | Age 18 or older; eligible taxpayer identification, identity document and employment details. Chase excludes ITIN and EIN from its stated individual online-opening criteria.Source 3 |
| Residence | US home address required.Source 9 |
| Non-US citizen | Certain resident aliens and W-9 taxpayers qualify. Green-card, presence, visa and sanctions conditions apply; this is not an unrestricted international account.Source 3 |
Account comparison04
Account wrappers
| Account | Main use | Important condition |
|---|---|---|
| General investment | Taxable individual or joint securities investing. | No IRA contribution ceiling or retirement withdrawal penalty; investment income and realised gains can be taxable.Source 4 |
| Traditional IRA | Retirement investing with potentially deductible contributions and tax-deferred earnings. | Eligibility, contribution limits and distribution rules apply; early distributions can incur additional tax.Source 4 |
| Roth IRA | Retirement investing with potentially tax-free qualified distributions. | Contribution income limits and distribution conditions apply; contributions are not deductible.Source 4 |
| UTMA custodial | An adult invests assets belonging to a minor. | No opening minimum; contributions are irrevocable and cannot be redirected to another child.Source 5 |
| Trust | Self-directed investing for a trust under its governing terms. | Open by telephone; the trustee controls investment decisions for the trust.Source 6 |
Account comparison05
Custodial and trust details
| Route | Documents / control | Boundary |
|---|---|---|
| UTMA | Adult identity/employment details; child’s birth date and Social Security number. Control passes at the state’s applicable age, typically 18–21. | Withdrawals must exclusively benefit the child. Gift-tax rules and financial-aid effects remain relevant despite no annual contribution limit.Source 5 |
| UTMA investments | Securities such as stocks, ETFs, funds and treasuries. | JPMS does not offer UGMA accounts or physical property such as real estate inside its UTMA service.Source 5 |
| Trust opening | Trust instrument/certification and two government IDs for trustees; supporting documents through Secure Message Center. | Both trustees must join a two-trustee application call. Chase indicates up to 45 minutes for the opening process.Source 6 |
Products and trading permissions
Sections ↑Account comparison06
Investment range
| Product | Available route | Practical boundary |
|---|---|---|
| Stocks and ETFs | Self-directed securities dealing, including eligible fractional shares. | The published commission-free scope is US-listed securities.Source 3 |
| Mutual funds | Fund selection, including actively and passively managed portfolios. | Read the selected fund’s minimum and operating expenses; a fund purchase is not a managed brokerage account.Source 12 |
| Fixed income | Treasury securities, municipal/corporate bonds, agency securities and brokered CDs. | Availability and transaction channel differ; use the fee and channel table below.Source 7 |
| Listed equity/ETF options | Approved options permissions in general investment accounts and IRAs. | Strategies are limited to the levels described below.Source 8 |
| Cryptocurrency exposure | Eligible ETFs tracking cryptocurrencies or related technologies, including general investment accounts and IRAs. | No direct purchase, sale or custody of individual cryptocurrencies. ETF tracking, liquidity and underlying-market risks remain.Source 13 |
Account comparison07
Options access
| Permission | Supported strategies | Restriction |
|---|---|---|
| Level 1 | Covered calls, cash-secured puts and protective puts. | Approval required. A margin account cannot sell cash-secured puts.Source 8 |
| Level 2 | Level 1 plus long equity calls and long equity puts. | Options margin is limited to general investment accounts; it is unavailable in IRAs.Source 8 |
| Unsupported strategies | No multi-leg or naked strategies. | Only the approved option levels are available.Source 8 |
| Contract limits | Friday expiries only. | No trading on expiry day, index options or non-standard contracts.Source 9 |
Account comparison08
Exercise and assignment rules
| Situation | What matters |
|---|---|
| Automatic exercise | Contracts meeting the clearing system’s in-the-money threshold may exercise automatically. Use the earlier do-not-exercise deadline if needed.Source 10 |
| Manual exercise or do-not-exercise instruction | The linked options agreement requires instructions by 16:20 ET on the business day before expiry. Contact the service centre before relying on an expiry-day decision.Source 10 |
| Funding the resulting position | Have sufficient cash or securities for exercise/assignment. JPMS may close positions if funding or the resulting holding is unsuitable for the account.Source 10 |
| Position responsibility | Resulting holdings remain in the account unless action is taken. Assignment can occur before expiry for American-style options; monitor covered positions as well as the option premium.Source 10 |
Trading costs and other charges
Sections ↑Pricing & charges09
Trading commissions, US dollars
| Transaction | Online | Telephone |
|---|---|---|
| US-listed stocks / ETFs | $0 | $25Source 7 |
| Options | $0 + $0.65/contract | $25 + $0.65/contractSource 7 |
| Mutual funds | $0 | $20Source 7 |
| Secondary US Treasuries | $0 | $0Source 7 |
| Other secondary bonds / brokered CDs | $10 + $1/bond above 10; maximum $250 | $30 + $1/bond above 10; maximum $270Source 7 |
| New brokered CDs | $0; concession included in price | $0; concession included in priceSource 7 |
Pricing & charges10
Channel and exit charges
| Item | Rule |
|---|---|
| Online exclusions | Treasury auctions, secondary agency bonds and new corporate/municipal/agency bonds.Source 7 |
| Exercise / assignment | $0.Source 7 |
| Full account transfer / termination | $75; IRA waiver for assets moving internally to an investment account or annuity.Source 7 |
| Outgoing wire | $25; internal wires and Chase Private Clients exempt.Source 7 |
| Other examples | Express mail $10; stop-payment $30; physical-certificate safekeeping $10/position/month. Private Client waivers apply.Source 7 |
Commission is only one cost component. Fund operating expenses reduce the investment’s return, and buying a fund without a dealing commission does not remove its own charges. Compare the selected share class and prospectus before treating two funds as equivalent.[12]
Fractional and recurring investments
Sections ↑Account comparison11
Fractional shares
| Feature | Rule |
|---|---|
| Eligible range | Selected S&P 500 and Nasdaq 100 shares and ETFs; consult the current eligibility list.Source 11 |
| Order size and type | $5 minimum; market orders in dollars or share quantities to five decimal places.Source 11 |
| Dividends | Proportionate entitlement; at least half a cent is required for a dividend to be credited.Source 11 |
| Transfer / voting rights | Fractional positions cannot transfer to another broker. Voting and corporate-action treatment can differ from whole shares.Source 11 |
Account comparison12
Recurring purchase rules
| Item | Condition |
|---|---|
| Eligibility | Cash accounts; mutual-fund plans also permitted in Self-Directed IRAs. Margin accounts excluded.Source 9 |
| Minimum | Stocks/ETFs $5; funds follow product minimums, or $1 recurring where no subsequent minimum exists.Source 9 |
| Funding / frequency | Internal bank, external bank or account cash; weekly through annual schedules. External-bank debit occurs one business day before purchase.Source 9 |
| Change or cancellation | Funds: three business days ahead. Stocks/ETFs: one day for internal funding, two business days for external-bank funding.Source 9 |
| IRA limit | Purchases exceeding the contribution ceiling are skipped; the plan pauses until next calendar year.Source 9 |
Platforms, research and dealing sessions
Sections ↑Platforms & products13
Tools on Chase.com and Chase Mobile
| Function | Published capability |
|---|---|
| Charts | Moving averages, Bollinger Bands, RSI and MACD; comparisons with securities and indices.Source 14 |
| Stock and fund research | Analyst targets/ratings, fundamentals, ownership and market sentiment; web investment ideas and fund lists.Source 14 |
| Options ticket | Position information and chain data including delta, gamma and theta.Source 14 |
| Fixed-income selection | Yield comparison, saved screens and bond/CD maturity information.Source 14 |
| Portfolio control | Customised position views, alerts, watchlists and performance comparisons against up to three indices.Source 14 |
| Planning | Wealth Plan and retirement calculators support goal tracking. They do not turn the self-directed account into a personally managed portfolio.Source 28 |
Trading & service hours14
Trading sessions and order limits
| Area | Published position |
|---|---|
| Regular sessions, ET | Stocks/ETFs/options: 09:30–16:00; fixed income: 08:30–17:00 on trading days.Source 9 |
| Extended hours discrepancy | The features page says 07:00 start; the FAQ says 07:30. Both end at 17:45 ET. Confirm the opening session in the order ticket.Source 14Source 9 |
| Extended orders | Eligible stocks/ETFs; day-limit orders.Source 9 |
| Outside normal hours | Liquidity can be thinner, spreads wider and prices less representative of other venues. A limit controls price but cannot guarantee a fill.Source 15 |
Execution quality and order-routing disclosures
Sections ↑Chase publishes the following historical measures for Self-Directed Investing held market orders in S&P 500 stocks, sized 1–1,999 shares, for the quarter ended 30 June 2026. The figures are supplied by S3 Matching Technologies and presented by the broker; they are not tests performed for this profile.[16]
Platforms & products15
Reported execution measures, Q2 2026
| Measure | Reported result |
|---|---|
| Shares receiving better than NBBO | 97.46% of eligible shares.Source 16 |
| Orders at midpoint or better | 90% of eligible orders.Source 16 |
| Price improvement normalised to 1,000 shares | $90.30; this is not a promise of savings on an individual order.Source 16 |
| Average execution speed | 0.04 seconds for the stated sample.Source 16 |
The August 2026 agreement says JPMS receives no market-maker payment for equity order flow. It separately discloses exchange/venue rebates and options-exchange marketing fees, plus affiliate interests in some trading centres. These distinctions matter when assessing how the service earns revenue.[29]
Margin borrowing: requirements, rates and collateral
Sections ↑Account comparison16
Margin conditions
| Item | Published rule |
|---|---|
| Initial equity | Listed-equity purchases generally require 50% initial margin and at least $2,000 account equity; otherwise pay in full.Source 17 |
| Maintenance | Security-specific and concentration requirements can be higher. Buying-power displays can be reduced for uncleared cash, open orders and pending withdrawals.Source 17 |
| Products | Eligible shares, ETFs, funds, options and fixed income can be held; collateral eligibility is determined by JPMS.Source 17 |
Pricing & charges17
Annual margin interest formula
| USD debit balance | Rate basis |
|---|---|
| $0–$25,000 | Prime + 4.75%Source 17 |
| $25,001–$50,000 | Prime + 4.50%Source 17 |
| $50,001–$100,000 | Prime + 4.00%Source 17 |
| $100,001–$500,000 | Prime + 3.75%Source 17 |
| $500,001–$1,000,000 | Prime + 3.00%Source 17 |
| $1,000,001–$3,000,000 | Prime + 2.50%Source 17 |
| $3,000,001–$10,000,000 | SOFR + 2.35%Source 17 |
| $10,000,001 and above | SOFR + 1.85%Source 17 |
Protections & eligibility18
Margin costs and legal consequences
| Area | Effect |
|---|---|
| Interest calculation | Daily net debit × annual rate ÷ 360; accumulated charges are applied on the first business day of the following month. Unpaid interest increases the next period’s balance.Source 19 |
| Forced sales | JPMS may sell collateral without contacting the customer, choose what to sell and increase house requirements without advance notice. A stated call deadline does not guarantee time to respond.Source 18 |
| Loss exposure | Losses can exceed the original deposit; the customer still owes any shortfall.Source 18 |
| Use of collateral | The margin agreement permits lending or pledging securities and gives JPMS security interests extending beyond a single purchased position. Read this before enabling borrowing.Source 19 |
Uninvested cash and Premium Deposit
Sections ↑Account comparison19
Three different ways to hold cash exposure
| Route | How it works | Protection / limitation |
|---|---|---|
| Default bank sweep | Uninvested cash normally moves to JPMorgan Chase Bank, N.A., unless another offered option was selected. | Bank deposits have FDIC treatment; they are distinct from securities held at JPMS.Source 29 |
| Money market fund | A purchased fund holding short-term instruments. | Investment product with fund-level risk and expenses; it is not an FDIC-insured bank balance.Source 20 |
| Premium Deposit | Optional bank deposit for eligible individual, joint or trust taxable accounts. Retirement and margin accounts are excluded. | Initial $50,000; later deposits have no minimum; maximum $3 million per account.Source 22 |
The public sweep page directs Self-Directed clients to the service centre for their rate; no numerical Self-Directed sweep yield rendered in this check. Do not substitute the Premium Deposit APY for ordinary idle cash.[20]
Pricing & charges20
Premium Deposit yield and operating rules
| Item | Current published terms |
|---|---|
| APY, eligible combined balances below $1 million | 3.20%, dated 28 September 2026.Source 21 |
| APY, eligible combined balances of $1 million or more | 3.60%, dated 28 September 2026.Source 21 |
| Tier calculation | Eligible deposits and investments are assessed weekly; the qualifying total is not just the Premium Deposit balance. Rates can change.Source 21 |
| Same-day withdrawal | Generally available for instructions before 16:00 ET on a business day.Source 22 |
| Settlement cash | Not a sweep: it will not automatically fund a securities purchase or pay an account debit. Withdraw deliberately when money is needed.Source 22 |
Protections & eligibility21
Premium Deposit details that affect access
| Issue | Consequence |
|---|---|
| Moving the balance | It cannot transfer between accounts or to another broker as a holding. Instructions go through JPMS; funds cannot be accessed directly at a Chase branch.Source 23 |
| Interest payment | Daily balance calculation on a 360-day basis, credited monthly; accrual excludes the withdrawal day.Source 23 |
| Qualifying relationship balances | Some personal bank/investment accounts and IRAs count toward the rate tier. UTMA, business accounts, irrevocable trusts and several other categories do not.Source 23 |
| Deposit insurance | $250,000 per depositor per ownership category at Chase Bank, aggregated with other deposits in that category, including the sweep. The $3 million product cap is not an insurance limit.Source 23 |
Funding, withdrawals and investment transfers
Sections ↑Account comparison22
Cash movement
| Method / request | Expected timing | Condition |
|---|---|---|
| Chase bank → investment account | Normally immediate before 16:30 ET on a business day; rarely up to one business day. | After cutoff: next business day, around 03:00 ET. Approval can affect availability.Source 24 |
| External bank → investment account | Typically 1–3 business days. | 16:30 ET cutoff; later instructions count from the next business day.Source 24 |
| Incoming transfer / wire | JPMS charges no receipt fee. | The sending institution may charge.Source 24 |
| IRA distribution → Chase bank | Processed in real time once manually approved. | Every retirement distribution requires approval; tax treatment is separate from transfer speed.Source 24 |
Account comparison23
Moving an existing securities account
| Route | Published estimate / rule |
|---|---|
| JPMS to JPMS | 1–2 business days.Source 25 |
| Between ACATS institutions | About 3–5 business days.Source 25 |
| Non-ACATS transfer | 7–20 business days after all paperwork is received.Source 25 |
| Online matching | Account type and ownership generally need to match; an external statement may be required.Source 25 |
| Excluded online assets | Examples include futures, short positions, physical securities, cryptocurrency, foreign currencies, annuities and certain restricted/proprietary securities. An ineligible asset can cause the whole request to be cancelled.Source 25 |
Check each holding before starting an in-kind transfer. A product can be supported for investment without every account title, fractional interest or external holding qualifying for the same transfer route. Use the account-transfer form where the online process does not support the registration.[24][11]
Account administration and investor protection
Sections ↑Account comparison24
Settings worth reviewing
| Control | What to check |
|---|---|
| Dividend reinvestment | Account-level changes apply to future purchases, so existing positions need their own election. Changes after the record date apply to the next dividend period.Source 26 |
| Beneficiaries | Use Beneficiary Center for IRA beneficiaries and non-retirement transfer-on-death designations.Source 26 |
| Trusted contact | A fraud/health/contact safeguard; the contact is not a beneficiary and cannot make account decisions.Source 26 |
| Statements and tax documents | Access account-specific forms through Statements & documents → Tax documents; issuance timing appears in the tax centre.Source 27 |
| Cost-basis method | The agreement states FIFO for individual securities and Average Cost for regulated investment companies such as funds/ETFs. Check and amend eligible elections before selling.Source 29 |
Protections & eligibility25
Protection and support
| Area | Scope |
|---|---|
| SIPC | Protection can cover missing customer securities/cash when a member brokerage fails: up to $500,000, including a $250,000 cash limit. Market losses and unsuitable investment choices are not insured returns.Source 30 |
| Deposit versus security | SIPC and FDIC address different assets and failure situations. Holding a security through the Chase interface does not make it an insured bank deposit.Source 30Source 20 |
| Service centre | 1-800-392-5749; Monday–Friday 08:00–21:00 and Saturday 09:00–17:00 ET.Source 25 |
| Contract review | The August 2026 self-directed agreement contains a pre-dispute arbitration clause. Keep the agreement, confirmations and complaint correspondence when resolving an issue.Source 29 |
Company background & evidence
Sections ↑- Headquarters
- New York, United States
Legal entities & licences
These are source-dated records, not a blanket assessment of the broker. Read each issuer, identifier, status and scope together.
J.P. Morgan Securities LLC
United StatesSource 1
| Issuer & identifier | Recorded status | Date & scope |
|---|---|---|
| Financial Industry Regulatory AuthorityCRD 79 | Registered | Checked 10 Oct 2026Named BrokerCheck firm report shows FINRA Approved. SEC broker-dealer registration 8-35008 is also identified; the report contains disclosure events.Source 1 |
Sources & further reading
- FINRA BrokerCheck firm report: J.P. Morgan Securities LLC, CRD 79 Financial Industry Regulatory Authority · Accessed 10 Oct 2026
- Form CRS: self-directed brokerage and advisory relationships, June 2025 J.P. Morgan / Chase · Accessed 10 Oct 2026
- Self-Directed Investing: opening requirements and service overview J.P. Morgan / Chase · Accessed 10 Oct 2026
- General investment, Traditional IRA, Roth IRA, UTMA and trust accounts J.P. Morgan / Chase · Accessed 10 Oct 2026
- UTMA account: ownership, eligibility and permitted investments J.P. Morgan / Chase · Accessed 10 Oct 2026
- Self-directed trust accounts: documents and telephone application J.P. Morgan / Chase · Accessed 10 Oct 2026
- Self-Directed Investing fee schedule; current linked PDF, copyright 2025 J.P. Morgan / Chase · Accessed 10 Oct 2026
- Options permissions and supported strategies J.P. Morgan / Chase · Accessed 10 Oct 2026
- Self-Directed Investing FAQ: sessions, recurring purchases and product restrictions J.P. Morgan / Chase · Accessed 10 Oct 2026
- Self-Directed Investing Option Account Agreement, version 15.3 J.P. Morgan / Chase · Accessed 10 Oct 2026
- Fractional trading: eligible shares, order minimum and ownership rights J.P. Morgan / Chase · Accessed 10 Oct 2026
- Mutual funds: investment selection and product costs J.P. Morgan / Chase · Accessed 10 Oct 2026
- Cryptocurrency ETFs: availability and distinction from direct cryptocurrency trading J.P. Morgan / Chase · Accessed 10 Oct 2026
- Current Self-Directed Investing platform and research features J.P. Morgan / Chase · Accessed 10 Oct 2026
- Extended Hours Trading Risks Disclosure J.P. Morgan / Chase · Accessed 10 Oct 2026
- Self-Directed Investing execution statistics, second quarter 2026 J.P. Morgan / Chase · Accessed 10 Oct 2026
- Margin eligibility, requirements and variable-rate tiers J.P. Morgan / Chase · Accessed 10 Oct 2026
- Margin Risk Disclosure: liquidation and collateral exposure J.P. Morgan / Chase · Accessed 10 Oct 2026
- Self-Directed Investing Margin Agreement, version 14.1 J.P. Morgan / Chase · Accessed 10 Oct 2026
- Sweep options and FDIC aggregation; numerical Self-Directed yield did not render J.P. Morgan / Chase · Accessed 10 Oct 2026
- Premium Deposit rates as of 28 September 2026 J.P. Morgan / Chase · Accessed 10 Oct 2026
- Premium Deposit for Self-Directed Investing: current fact sheet J.P. Morgan / Chase · Accessed 10 Oct 2026
- Premium Deposit for Self-Directed Investing: full product disclosure J.P. Morgan / Chase · Accessed 10 Oct 2026
- Investment account funding: cutoffs, transfer timing and retirement withdrawals J.P. Morgan / Chase · Accessed 10 Oct 2026
- Investment transfers: eligible assets, ACATS and service hours J.P. Morgan / Chase · Accessed 10 Oct 2026
- Account management: reinvestment elections, beneficiaries and trusted contacts J.P. Morgan / Chase · Accessed 10 Oct 2026
- Investment tax forms and document access J.P. Morgan / Chase · Accessed 10 Oct 2026
- Self-Directed Investing welcome guide and planning tools J.P. Morgan / Chase · Accessed 10 Oct 2026
- Self-Directed Investing Disclosures and Brokerage Account Agreement, revised August 2026 J.P. Morgan / Chase · Accessed 10 Oct 2026
- What SIPC protects Securities Investor Protection Corporation · Accessed 10 Oct 2026
This profile reports dated public information, including broker-published services and terms. It does not independently test or guarantee execution, pricing or withdrawals. Inclusion is not an endorsement. Permissions and protections apply only to the named legal entity, service and client category; check the current official records and your contract.