Ally Invest Review
Overall
- Trades & Commissions(4)
- Broker Trading Platform(3)
- Customer Satisfaction(4)
- Market News & Reasearch(3)
- Regulation & Investor Insurance(5)
- Account Opening Balance(4.5)
Summary
Ally Invest: Best match for Investors seeking low commissions, good execution on Stocks, Options, ETF’s, Futures, Bonds & Semi-Automated Portfolio Management. Banking, Credit Services & Home Loans combined with a great customer service score means Ally could be a good choice for an All-in-One Service Provider.
Pros
★ Competitive Commissions
★ Full Suite of Investing Vehicles
★ Banking
★ Great Customer Service
Cons
✘ Higher Margin Costs
✘ No News or Research Services
Ally is not just a broker; they are a financial institution offering banking, credit cards, home loans, and auto finance and insurance. After the acquisition of TradeKing in 2016, they branched into trading & brokerage services.
This acquisition seems to have worked well as they have a very competitive suite of investing services and excellent customer satisfaction scores.
Round 1 – Stock Brokers Commissions Comparison
Commissions are not the be-all and end-all, but low commissions help reduce slippage, especially if you are an active investor or trader.
Some Brokers offer a flat fee regardless of how many shares are traded. Some offer an optional “per share” commission structure, which can be beneficial for smaller traders.
At Ally Financial, Stock trading commissions weigh in at $0 per trade, and for larger volume traders, there are discounts available.
Stock trading commissions weigh in at $0 per trade. The Options trading costs are also low at $0 + $0.50 per contract, making them more competitive than T.D. Ameritrade, Fidelity & Merrill.
Ally also offers the full suite of vehicles such as Stocks, Options, Bonds, ETF’s, Forex, and even Commodity Futures, which means you can easily balance your investments across different asset classes to suit your bullish or bearish outlook.
If you are looking for an institution to provide competitive rates across the full suite of investing and banking services, Ally could be an excellent choice.
Round 2- Stock Brokerage – Trading Platform Comparison
How do you find the in-play stocks, have high volatility and are in a strong trend? This is the job of the trading platform.
You need your trading platform to be fast, intuitive, and powerful. In this section, we rate the brokers on their choice of trading platform.
Ally Invest does not have the strongest suite of tools available in our Top 10 US Stock Brokers Review.
If you favor being able to manage all your Ally Services in one place over having powerful scanning and fundamental screening or a wealth of expert advisors or studies, then Ally is for you.
Ally is not trying to be the leader as a dedicated brokerage with the most powerful tools; Ally offers its banking and credit services customers the possibility to trade and cost-effectively as an extension of their current services. Many dedicated banks will upsell brokerage services to clients at higher commission costs because they prefer to have all services under one roof.
Ally has launched its “Ally Invest Live” Html 5 trading application, but it still does not cover all trading vehicles. It does not compare to competitors like Firstrade, TC2000 Brokerage, or Interactive Brokers.
Round 3 – Stock Brokers – Customer Support & Research Comparison
In this round, we compare:
- Customer Support – We want to see all three options of Email, Messaging, and Phone.
- Customer Satisfaction Score – how many complaints or bad reviews within the last year on Twitter or TrustPilot (jump to methodology)
- Research & Ideas – what services are provided free of charge to help you research a particular stock or sector. Stand-alone research services can be costly, so free with an account is a big bonus.
- News – Is a real-time news service available for free or an additionally paid to upgrade
Ally Invest has all the core requirements of good customer service in place. A 24/7 Support desk to handle customer calls and live chat and email services. The company prides itself on good customer service and has also inherited strong customer service from TradeKing, which it purchased in 2016 to extend its brokerage services.
Because Ally is not a deep specialist broker, it has not yet added any deep Stock Market Research or real-time News Services into its product offering.
Round 4 – Brokerage Regulation & Account Minimum
Is the company well established, well funded, and well regulated? This is the main object of this round of comparisons.
Any U.S.-based Broker should be a member of the following institutions.
Financial Industry Regulation Authority (FINRA) Membership.
FINRA is a nonprofit organization established to protect investors and ensure that the members comply with the law and the Securities and Exchange Commission rules. They audit all members regularly.
Securities Investor Protection Corporation (SIPC) Membership.
The SIPC is there to protect and hopefully recover any money lost if a Brokerage firm fails. Although Broker failure is rare, it can happen, and SIPC membership ensures that your account is protected up to $500,000.
Ally Financial has all the protection and oversight required in the U.S.A, they are fully registered in the FINRA Database and have SIPC insurance.
Ally Invest – Stock Broker Comparison Master Table (Searchable)
Here you can find the table containing all the data in one place. Use the search box to filter on a particular item you are looking to compare. For example, type “forex” or “margin,” and you will get only the relevant rows to compare.
| Brokerage | |
|---|---|
| Result | Highly Recommended |
| Great for: | Investors seeking low commissions & many services |
| Likes | ★ Competitive Commissions ★ Full Suite of Investing Vehicles ★ Banking ★ Great Customer Service |
| Dislike | ✘ Higher Margin Costs ✘ No News or Research Services |
| Trades & Commissions | |
| Direct Market Access DMA | ✘ |
| Stock Trading | ✔ |
| Stock Trading Fees | $0 |
| Per Share Trading Fees | |
| Stock Trading Fees (Max) | |
| Options | ✔ |
| Options Trading Fees | $0 + $0.50 per contract |
| Leverage Available | ✔ |
| ETF Trades | ✔ |
| Exchange Traded Funds (ETF) | $0 |
| Number of Commission Free ETF's | ✘ |
| Futures | ✔ |
| Mutual Funds | $9.95 |
| Bond Purchase | ✔ |
| Bonds | $1 + Net Yield |
| Forex Trading | ✔ |
| Foreign Exchange (fx) Commission $ per 1,000 | Spread |
| Margin Account Interest Charges | 4.75% to 9.25% |
| Margin Costs Rating | ★★★ |
| Trades & Commissions Score | ★★★★ |
| Trading Platform | |
| Software Provider | Ally Financial |
| Trading Platform Cost | Free |
| Web Software | ✔ |
| Desktop Software | ✘ |
| Mobile Software | ✔ |
| LII Quotes | ✘ |
| Indicators / Studies | 100+ |
| Streaming Charts | ✔ |
| Watchlists | ✔ |
| Profit / Loss Graphs | ✔ |
| Probability Calculators | ✔ |
| Options Chains | ✔ |
| Trading Platform Score | ★★★ |
| Brokerage |  |
| Customer Support & Research | |
| Customer Support (Phone & Live Chat) | ✔ |
| Customer Satisfaction Score* | ★★★★ |
| Research & Trade Ideas | ✘ |
| News | ✘ |
| Customer Support & Research Score | ★★★★ |
| Account & Company Details | |
| Available for U.S. Citizens | ✔ |
| Account Minimum | $0 |
| FINRA Member | ✔ |
| SIPC Insurance - Assets | ✔ |
| Regulated By | SEC |
Do you want more Stock Broker Reviews?
Please read our Review of the Best U.S. Online Stock Brokers Comparison, or our Best Penny Stock Brokers or Best Brokers In-Depth Review
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Notes on the Review
Customer Satisfaction Score (Star Ratings)
The customer satisfaction score was compiled using the following methodology.
The Twitter Accounts of the Brokers were scanned back for one year for any negative feedback from customers. Also, TrustPilot UK and USA were reviewed, and any negative comments counted against the broker. These two sources of information were combined to provide the star rating you see below.
★★★★★ – No Complaints & Positive Recommendations (1 year)
★★★★ – No Complaints (1 year)
★★★ – < 10 Complaints (1 year)
★★ – 10 to 20 Complaints (1 year)
★ – > 20 Complaints (1 year)
Partnerships & Special Bonus
Liberated Stock Trader has partnerships with most of the service providers in this review. This means if you find the review useful and purchase any of the services mentioned we will receive a small payment which goes towards funding the research and work we do.
As a thank you for using our reviews and purchasing any of the services mentioned we would like to offer you a special bonus of the highly rated Liberated Stock Trader "How to Avoid the Next Stock Market Crash" eBook and Video Course worth $29.-. Simply contact us specifying which service you signed up for and we will send you your gift.Review Methodology
Over 200 data points were collected during this review. Brokers change services, terms, and commissions regularly. If you represent a Brokerage House or are a client and spot an inaccuracy, please leave a comment or contact us here, and we will endeavor to correct it.