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Ally Invest IRA Fees

Ally Invest Roth IRA Fees, Traditional IRA, Rollover IRA, SEP IRA, 401K individual retirement accounts annual, opening/closing, transfer out fees charged, costs, and investing commissions

Ally Invest IRA Fees

Founded in 2005, Ally Invest is a relative newcomer in the online brokerage business. They immediately staked their claim as one of the lowest-cost discount brokers. Ally Invest offers trading in stocks, bonds, ETFs, mutual funds, options, and foreign currencies. The company also offers a full variety of Individual Retirement Accounts. This article will review the fees associated with IRAs at Ally Invest.

  • IRA set-up fee: $0
  • Annual IRA fee: $0
  • IRA termination fee: $50
  • Inactivity fee: $0

Ally Invest IRA Trading Fees
Stocks and ETFs $4.95 or $3.95*
Options $4.95 + $0.65 per contract or $3.95 + $0.50*
Mutual funds $9.95
Bonds $1 per bond with $10 minimum, $250 maximum
Treasuries commission-free
Certificates of Deposit (CDs) $24.95

* - $3.95 per equity trade and 50 cents per options contract for users who make 30 or more trades in the prior calendar quarter and/or maintain an average daily balance of more than $100,000 in the prior calendar quarter.

Ally Invest Annual IRA Fees and Account Inactivity Fees

There is no annual fee for maintaining an IRA. However, there is a possible inactivity charge if two things happen: no trades have been made in the account for an entire year and the combined household account value of all accounts that share the same tax ID is less than $2,500. The $2,500 threshold is evaluated at the time of review of the account, which is 12 months after the initial funding date of the account.

Ally Invest IRA Termination and Transfer Fees

A $50 fee is charged for terminating an IRA or making a full transfer of an IRA out of a Ally Invest account. In effect, $100 will be charged if an IRA is terminated because both fees apply—$50 for a full transfer and $50 for termination. If a full transfer is made out of the Ally Invest IRA but the account is not terminated (for example, if an investor intends to refund the IRA in the future), only $50 in fees will be charged. Partial account transfers have a $10 per position charge up to a maximum of $50.

All these fees except the account inactivity charge are typical with most discount brokers, so only active traders or those with larger accounts will want to open IRAs with Ally Invest.

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Ally Invest Account Fees

Ally Invest is pretty light on the normal, everyday fees. Here is a breakdown of their current fee structure for the most relevant charges:

$1.00 Bond Trade Fee
$24.95 Treasury Trade Fee
$24.95 CD Trade Fee
$0.00 IRA Annual Fee
$50.00 IRA Closure/Transfer Out Fee
$30.00 Returned ACH Fee
$30.00 Returned Wire Fee
$200.00 Stock Certificate Processing Fee
$200.00 Stock Certificate Delivery Fee
$2.50 Paper Statement Fee
$1.00 Paper Confirmation Fee
$30.00 Domestic Wire Fee
$50.00 International Wire Fee

There are also some rather steep fees for the checking/debit/ATM features on the account:

Apex Select Annual Checking - $20.00 Annual Fee
Apex Select Annual Debit Card - $35.00 Annual Fee
ATM Withdrawals - $1.00

Open Ally Invest IRA Account
Up to $3,500 cash bonus + commission free trades for new accounts.

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