JPMorgan is planning to offer unlimited free trades for Chase Private Clients on its online brokerage platform. Daniell Verbrigghe reports at the FT:
JPMorgan plans to introduce the new programme next week, featuring 100 free stock and ETF trades for all users, and unlimited trades for Chase Private Client customers, who typically have higher account balances. The new programme, first reported by CNBC early Tuesday, was confirmed by a JPMorgan spokeswoman.
Shares in the lender were up 1.3 per cent in early trading.
JPMorgan and other brokerages have been focused on adopting digital technology to lure next-generation investors and compete with the array of low cost providers available in the market. Big brokerages, like JPMorgan, have faced pricing pressure, partially driven by online discount brokers and other types of competitors, such as robo-advisers, that have lowered the cost of investing.
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