JP Morgan Chase has plans on unveiling a newly designed trading service that will let investors execute up to hundred free trades by the first year. The plans of the world largest banks seem to be under process for the past three years. Also, the latest developed dynamic online investing landscape app called Robinhood is one among the commission-free trades apps. Currently, the customer base of JP Morgan Chase is about 47 million and all of them will attain access to the new mobile app. Furthermore, other operations can also be done on the main website.
For the first year, JP Morgan Chase has allowed all its customers, including the new clients who download the app, will be given hundred free trades of stocks. Not to mention, exchange-traded funds which are the diversified funds that trade like stocks will also be provided by JP Morgan Chase. When the one-year time frame ends the free trades will then be permanent for all those who maintained a good balance. Take $15,000 for instance; which is the total balance available in the account will have a benefit of hundred free trades annually. After the user downloading the app, it will give a clear idea of how the entire structure works. This is in terms of investment in the bank’s equity research which is about 1,200 stocks that is among the resources.
The apps seem to be doing a lot for both the customers and JP Morgan Chase. Let us see how things turn out in the future.