23-08-2018, 08:52 AM
With less friction, it is probably going to be better on aggregate for everyone in investing. But i just thought there could be secondary effects of less friction causing people to trade more (eg. seat belts reduce fatalities but increased non fatal accidents by a lot since people became less cautious as a side effect of the knowledge of safety with a seat belt). There are other things like "number of free trades a user has left is prominently displayed on the app" which also has the effect of nudging people to trade more (by focus their attention away from "no of trades made" to "how much FREE trades i have left")
JP Morgan to unveil new investing app with an eye-catching, disruptive price: Free
JP Morgan to unveil new investing app with an eye-catching, disruptive price: Free
- .P. Morgan's new digital brokerage service comes with free trades, portfolio building tool and access to equity research.
- The bank's new trading service starts next week and will be available to its 47 million mobile or online users.
- All customers get 100 free stock or ETF trades in the first year. Those with Chase Private Client get unlimited trades.
- CEO Jamie Dimon hinted at this move in 2016, citing Amazon Prime as his inspiration.