#1 Ally Invest Review
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Ally Invest

Don’t want to rely on the too-expensive know-how of a financial analyst when it comes to your stock portfolio? Lucky for you, Ally can help.

Built for investors who want to manage their own portfolios, Ally’s self-directed trading gives you all the tools you need to buy and trade stocks, optimize your portfolio and stay on top of the market, all without the need for stock brokers, in-person consultations or financial specialists. With Ally, you’re in control.

History

Ally was originally an auto loan financer, facilitating auto financing to new car buyers through dealerships. In 2010, Ally separated their auto financing services to better focus on their individual financial sector, acquiring online brokerage and digital wealth management company TradeKing.

Since then, Ally has grown into one of the leading online investments firms in the industry. Their do-it-yourself tool kits and resources help simplify the investment process, winning them the respect of experienced investors and beginners alike. Their low prices also make them an awesome choice for more cost-conscious investors.

Pricing

Because you manage your own trades and accounts, Ally’s pricing can remain incredibly low. Each stock and ETF transaction starts at just $4.95, with no account opening minimum. Option trades are $.65 per contract, starting with a $4.95 base. Bonds are $1 each with a $10 minimum. These competitive fees and low commissions help you accomplish your financial goals fast, putting you directly in charge of your investment portfolio. They even provide $3.95 for equity trades for high-volume/high-balance traders. (certain requirements and restrictions may apply)

FEES AND FIGURES
  • Stock Trade Fee $4.95
  • Options Base Fee $4.95
  • Options Per Contract Fee $0.65
  • Mutual Fund Trade Fee $9.95
  • Number of Mutual Funds 12,000+
  • Broker Assisted Trade Fee Regular Commission
  • Broker Assisted Per Contract Fee $20
  • Commission Free ETFs N/A
  • Minimum Deposit $0
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Resources and User Interface

Ally works hard to keep the customer experience at the forefront of their online trading platform. They offer a bevy of tools and resources to help you make the best decisions. Housed under their all-in-one Workbench interface, you can quickly and easily access all the tools you need at any time, including the following:

Streaming Charts – Keep up to date with stock performance. Ally offers over 90 chart studies and drawing tools that help you analyze stock performance, ETFs, indices and more.

Market Snapshots – Find out what’s happening in the market and with the specific securities that interest you most. Snapshots offer you company stats, news and detailed metrics so you can be in the know.

Profit/Loss Calculator – Calculate your potential trade’s profit or loss before you place it. Ally’s calculator forecasts fluctuations in volatility and time, helping you optimize your spend.

Market Data – Bookmark the companies most important to you and see their quotes, charts, high/low prices, dividend dates, options summary, news, peer comparisons and more.

Ally also offers other resources, including watchlists, a profitability calculator and more, so you have all the market research you need right at your fingertips. This helps give you the control and knowledge you need to make the right decisions. With live market information constantly refreshed, Ally provides an all-in-one site that enables you to research, learn, forecast and place every single trade you want to make.

Plus, these services are available to all Ally members free of charge. That means no tiered information reserved for just “premium” members, further driving home Ally’s customer-first philosophy of treating every customer equally, regardless of how big or small their trades may be.

Getting Started

Not sure how to transfer your current account from another broker? Fill out a form, send over your most current account statement and in 5-7 business days, your transfer will be all set. The transition is easy and Ally provides 24/7 customer support to help you with any questions you might have.

The Good

Competitive low pricing means you get more investment options for less. Perfect for those who are cost-conscious.

The Bad

Because Ally has no physical locations, beginner investors might feel wary of performing all their own trades digitally.

The Ugly

No commission-free ETFs makes ETF portfolio building more expensive in the long term.

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