JPMorgan is now offering 100 free trades to anyone that opens a brokerage account with them. This announcement has sent the online brokerage market into chaos on Tuesday, with TD Ameritrade down 7%. They're obviously aiming to gain investors from competitors, but more importantly they're more attractive to new and young investors. This service will offer any of their customers to receive 100 free trades (Stocks & ETF's) in their first year with no minimum account balance, while getting charged $2.95 for every trade after that. Now if you have an account balance of $15k or more, you will receive 100 free trades a year, and Chase Private Client members get unlimited free trades.
Almost a year ago, I made my first blog post,(http://tipsandtricksforinvestors.blogspot.com/2015/04/trading-for-free.html), the post was about how Robinhood was such a great and free interface for young people to start investing, and I can't believe it's even easier to get access to zero-commission trading now through JPMorgan! This is all great news for JPMorgan, due to the potential clients that they would be taking from their competitors, and most importantly attracting the millennials.
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