JPMorgan Chase & Co. (JPM) is disrupting the retail investing realm with its latest app, which will offer free trades.

The new digital investing service called You Invest will launch next week and will include access to the bank’s stock research and a portfolio-building tool. Users who download the banking app or use the website will get up to 100 free trades in the first year, CNBC reports.

Morgan has been working on the technology for two years. It’s the latest move to compete on price among brokerages, which are now vying against new comers like Robinhood, a free-trading app. Robinhood has drawn 5 million users since its launch a few years ago. (See also: Robinhood vs TD Ameritrade.)

JPM shares were up 1.24% in early market trade on Tuesday.

JPMorgan’s Advantage

JPMorgan’s investing services have an established reputations with Americans. In fact, the bank has financial connections with more than half of Americans. So, more than 47 million current users of its products will have access to You Invest when it launches.

"There are customers out there who may not want to trust their credentials or their money to an app-of-the-month," said Jed Laskowitz, a JPMorgan veteran who runs You Invest. "We're thinking about what's right for our customers, helping them get invested and stay invested and diversified."

Kelli Keough, head of digital wealth management, said JPMorgan is targeting millennials who have never invested and current customers who are investing elsewhere.  

"Folks that are new to investing, there's a perception that trading is expensive," Keough said. "We wanted to lower the hurdles. We wanted to help people invest without cost being an issue, and to reward people who are doing more business with us."

Shares of discount brokers were down in early trade Tuesday. TD Ameritrade Corp.’s (AMTD) stock was down 5%, E*Trade Financial Corp.’s (ETFC) stock was down 3.7%, Charles Schwab Corp. (SCHW) was down 3.36%.

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