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JP Morgan Set To Launch New Free Trading Service

Investing is about to get a whole lot easier across the United States as JP Morgan gets ready to launch its investing service platform ‘You Invest’.

The new service is expected to launch next week and will come bundled with their banking app offering free or discounted trades. The move is expected to bring in a lot of new investors who want to get the most out of their bottom line.

The main reason that a lot of people will be downloading and using JP Morgan’s mobile banking app is the fact that it offers 100 free trades annually.

This opens up an avenue for casual traders to enter the market easily. It is not just free trades though. Users will also get access to a great portfolio builder along with access to JP Morgan’s stock research.

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This service has been in the making for two years and it will change a lot of things in the investor market. Currently, there is a price war going on in Wall Street and transaction costs for trades have continued to drop during the last few months in order to stay relevant in a fast paced market.

A noticeable success story because of falling prices is the Robinhood Markets free trading app. This innovative trading app is now reported to have more than 5 million users and is valued at $5.6 billion after just a few years of operation. However, when JP Morgan activates its new trading service, it will be integrated into the bank’s current mobile banking app. This means that the app’s 47 million users will have access to the free investing service and will immediately give JP Morgan a distinct advantage over the competition.

In a statement, Jed Laskowitz, the man in charge of You Invest said

There are customers out there who may not want to trust their credentials or their money to an app of the month. We're thinking about what's right for our customers, helping them get invested, and stay invested and diversified.

With the new service, people can sign up for an account in just three minutes and start investing. There are no minimums and people get 100 free stock or ETF trades a year. Those with accounts that are valued at $100,000 or more get unlimited free trades. Exceeding the number of free trades will only cost $2.95 for every extra trade.

This is an impressive service but it is just the start. JP Morgan plans to introduce automated investment managers that will help investors trade without much interference from the client. This is set to debut in January.


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