JPMorgan Chase & Co said Thursday it is giving free online trades to more custom...
) said Thursday it is giving free online trades to more customers and lowering the amount of money needed to open one of its robo-adviser accounts, as firms across the industry bow to pressure to reduce fees and account minimums.
The move means that people with as little as $500 can open a You Invest Portfolios account, and Chase customers who have at least $15,000 in their checking accounts or meet other key metrics can trade for free online and on the mobile app. It also comes about two months after the largest U.S. online brokerage, Charles Schwab Corp , eliminated commissions and fees for most online trades.
You Invest Portfolios, which launched in July, previously required investors to have at least $2,500.
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