Chase IRA Promotion

Chase IRA Promotion For $700 in 2024


JP Morgan Chase IRA promotions, special offers for opening a new ROTH, Sep, Simple, Rollover, or Traditional IRA investing account.


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JP Morgan Chase Promo Details


If you are thinking about opening a new investment account, Chase might be a good brokerage to consider. J.P. Morgan is offering a cash bonus of up to $700 for new accounts. The bonus goes to investors opening and funding one of three types of self-directed Investment accounts. If a $700 J.P. Morgan account opening bonus sounds good to you, keep reading. We’ve put together all the most important details for you.


Chase IRA Promotions


J.P. Morgan’s cash offer can be activated by opening a new investment account, and funding it with new money.

There are three deposit tiers, each with its own bonus amount. You will receive:

$50 for a deposit of $10,000-$24,999,
$150 for a deposit of at least $25,000,
$325 for a deposit of at least $100,000, or
$700 for a deposit of at least $250,000.

Now could be a great time to transfer your investment or retirement account over to J.P. Morgan. The broker offers a long list of helpful investment resources that are designed to keep investors in the know. Chase also empowers investors to take control of their financial future by utilizing the self-directed investment tools.


Chase IRA Promotion Terms


The $700 Bonus Offer from J.P. Morgan is available until January 31, 2024, though we suspect that the promotion will be extended beyond that date.

Funds must be deposited into the new Chase brokerage account within the first 45 days of the account.

New funds should remain in the Chase brokerage account for at least 90 days.

Once the 90-day minimum has been reached, the investment account is credited with the bonus cash within 15 days.

New accounts must be opened from the J.P. Morgan Wealth Management Bonus Page (Not through any other channel). Here is the link: Get $0 stock commissions at J.P. Morgan.

A J.P. Morgan promotion coupon can be sent via email if you need more time.

You cannot take advantage of the new account bonus at JPM if you have already used a similar bonus from a Chase checking account or from a Chase Sapphire credit card account.


Steps to Collect Your Chase IRA Bonus


You can collect your J.P. Morgan cash bonus in three simple steps.

The first step is to navigate to the new account selection screen using the bonus offer link (above). Selecting the account type that you would like to open begins the application process.

Either as an included step in the account opening process or after the account is open, you will need to fund your new brokerage account. Chase accepts ACAT transfers, IRA rollovers, Wires, Checks, and ACH.

It is good to note here that the value of the deposit can be represented as cash and assets. As long as the new account value totals the qualifying amount, you will receive your bonus. Also important to note here, is that funds must be ‘new money,’ essentially coming from outside the Chase and J.P. Morgan sphere.

With a newly established and funded investment account at Chase, the only thing left to do is wait for 90 days for your cash bonus to be deposited.


Qualifying Account Types


There are three different eligible accounts that you can open to trigger the cash bonus. You can open a self-directed investment account, a traditional IRA, and a Roth IRA.

The Self-Directed Investment account is a margin or cash account that gives you direct access to the financial markets. You can use this account to place trades on thousands of securities at J.P. Morgan. There are no balance minimums to keep up with and the broker doesn’t impose any account activity rules.

The Traditional and Roth IRA accounts can also be used for trading and self-directed investing, but are focused on retirement fund management. Your choice between the two will largely depend on your desire to pay tax on our contributions now or sometime in the future.


Overview of JP Morgan Chase and Schwab


Charles Schwab and J.P. Morgan Self-Directed Investing try to attract investors with brand name and discounted rates. There are many differences between these two companies, however. You’ll definitely want to be aware of them before opening an account with one of the two firms. Here they are in important categories:


Cost


Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
Charles Schwab $0 $49.95 ($0 to sell) $0 + $0.65 per contract $0 $0
Chase $0 $0 $0.65 per contract $0 $0


Services


Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
Charles Schwab
Chase


Promotions


Charles Schwab: Get up to a $2,500 cash bonus from Charles Schwab.

Chase: Get $0 stock commissions at J.P. Morgan.



Trading Software


Schwab’s website is easy to use and has lots of helpful resources. There’s a trade bar that appears at the bottom of the screen. It provides important security data, such as volume and bid and ask numbers. Clicking on ‘News’ or ‘Chart’ produces a small pop-up window with the relevant topic. Unfortunately, trades cannot be placed directly on the tool; although an order ticket on the website is a good replacement. Extended hours are available, and time-in-force options include day only, GTC, fill or kill, and immediate or cancel.


Charles Schwab or JP Morgan Chase


The next step up from the regular website is StreetSmart Central, a browser-based trading system. It is taken from optionsXpress, which Schwab purchased. It is able to trade stocks, ETF’s, options, and futures. Because the software comes from optionsXpress, there are very good derivative tools.

Now we come to Schwab’s crown jewel for trading software. Called StreetSmart Edge, it is the company’s desktop platform. It offers live streaming of CNBC and a simulated trading login.

Advanced charting is available at all three locations: the website, Central, and Edge. We found company events, comparisons, drawing tools, and technical studies. Central and Edge are better than the website, although this third option is very usable for most purposes.

Now we come to Chase, and there’s not going to be much comparison. J.P. Morgan Self-Directed Investing doesn’t offer a trade bar, a browser platform, or a desktop program. All trading takes place on simple web pages, and we’re emphasizing simple here. The broker’s trading ticket is comparable to Schwab’s website ticket, although J.P. Morgan Chase offers fewer time-in-force options. Direct-access routing is not possible at J.P. Morgan Chase, although it is available on StreetSmart Edge.


JP Morgan Chase vs Schwab


Charting is even worse. The J.P. Morgan Chase site only provides a small chart with a handful of time frames. There are no technical studies, nor are there company events, comparisons, or drawing tools. A graph cannot be shown full screen, and there are no display options or customization choices. You would be better off using a free service on the Web, such as Yahoo or Barchart.


Mobile Platforms


A mobile app can be used to buy and sell investments at either firm. We thought J.P. Morgan Chase’s would be very good because it’s the same app as the regular Chase Bank app. But when we logged into our brokerage account, we couldn’t find mobile check deposit, funds transfer, or bill pay. These functions are available on Schwab’s mobile app.

For charting, the J.P. Morgan Chase app offers the same basic chart as the website does, which means it’s almost useless. On the Schwab platform, by comparison, there are several charting tools, including company events and indicators. A graph can be rotated horizontally, and there are quite a few graph styles.


JP Morgan Chase Trade App


Also on Schwab’s app are option chains. Clicking on a bid or ask price produces the appropriate derivative trading ticket. We found live streaming of NBC’s business channel along with several other audio and video resources. We liked Schwab’s market news section better than Chase’s. On the flip side, the Schwab app did crash a few times during our testing. Both apps are compatible with Touch ID.


Schwab vs Chase


Customer Support


Schwab clients can reach a company representative anytime of the night or day. There is an online chat function on its website, and a dedicated phone line is for Chinese speakers. On top of all this, Schwab operates a large nationwide system of brick-and-mortar offices that provide traditional service.

If you would rather try to take care of issues yourself, the Schwab website has a very useful self-help section where it’s possible to manage alerts, sign up for paperless documents, submit a travel alert, and more.

Chase’s new discount broker is only open from 8 till 9, EST—and these hours are only during the week. The brokerage firm is closed on Sunday, although a Saturday session lasts from 9 until 5. J.P. Morgan Chase does not offer any branch locations.


Mutual Funds and ETF’s


Using the J.P. Morgan Chase mutual fund screener in our trial account, we found just north of 3,500 securities that were available for purchase by new investors. This is a very small list compared to most rivals, although it actually is close to the 5,700 we found at Schwab. One difference is that all of J.P. Morgan Chase’s mutual funds have no load and no transaction fee. On Schwab’s list, there are about 3,400 that have the same fee structure.

Both brokers offer ETFs. The biggest difference here is Schwab’s excellent ETF resource center on its website, whereas J.P. Morgan Chase has just a few materials. Both brokers offer all ETFs commission-free.


Schwab vs J.P. Morgan Chase


Promotions


Charles Schwab: Get up to a $2,500 cash bonus from Charles Schwab.

Chase: Get $0 stock commissions at J.P. Morgan.



Recommendation


If you’re going to buy and sell mutual funds, we definitely suggest Schwab over J.P. Morgan Chase. Besides the sheer number of securities, Schwab has much better mutual fund resources.

If you need advanced trading tools, once again go with Schwab.

We can recommend J.P. Morgan Chase for active option traders. Other than the value that $0 commissions provides, Schwab seems to outperform Chase’s new broker in most categories.


JP Morgan vs Schwab: Results


Chase's new online broker J.P. Morgan doesn’t quite measure up to its rival here. Spending a little bit more money will get you a lot more at Schwab.


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Get $0 stock commissions at J.P. Morgan.

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Updated on 2/14/2024.