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Ally Invest IRA Fees For 2022

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

Ally Invest IRA Fees

Fee Amount
Ally Invest setup fee $0
Ally Invest annual IRA fee $0
Ally Invest IRA termination fee $25
Ally Invest account maintenance fee $0
Ally Invest account inactivity fee $0
Ally Invest outbound full account transfer (ACAT) fee $50
Ally Invest outbound partial account transfer fee $50

Ally Invest IRA Trading Fees
Stocks and ETFs $0
Options $0.50
Mutual funds $9.95
Bonds $1 per bond with $10 minimum, $250 maximum
Treasuries commission-free
Certificates of Deposit (CDs) $24.95

Ally Promotion
Up to $3,000 cash bonus + $0 trades + transfer fee rebate.

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Ally Invest Annual and Account Inactivity IRA Fees

There is no annual fee for maintaining an IRA at Ally. The inactivity fee Ally Invest used to charge has been terminated. Therefore, right now there are absolutely no fees to have a retirement account at Ally.

Ally Invest IRA Termination and Transfer Fees

A $25 fee is charged for terminating an IRA and $50 for making a full transfer of an IRA out of an Ally Invest account. In effect, $75 will be charged if an IRA is terminated because both fees apply — $50 for a full transfer and $25 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 are also $50.

Both account closing and transfer fees are typical for discount brokers.

Ally Invest IRA Review

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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
$25.00 IRA Closure 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

Open Ally Invest IRA Account
Up to $3,000 cash bonus + $0 trades + transfer fee rebate.

Open Ally Invest Account

Ally Invest Overview

Ally Invest is a low-cost online broker for investors residing in the U.S. that offers most bells and whistles you’ll find with the best online brokers. With an Ally Invest account, you can trade almost anything, including stocks, ETFs, options, mutual funds, bonds, CDs, forex, and Treasuries.

Portfolio Management

For those who are less familiar with the best practices in asset allocation and investment planning, Ally Invest offers a good robo-advisor style investment management service. It will ask you a few questions, such as your age, investment goals, and risk appetite before recommending an asset allocation mix for you. It will use low-cost ETFs and automatically handle rebalancing for you in your account to maintain the target allocations. Although there are no account minimums with Ally, their portfolio management service requires assets of at least $100 and charges no annual or advisory fee.

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If you plan to make your own trades, you will likely be pleased with Ally’s commissions. Their commission structure is probably their biggest selling point as equity and options trades are both just $0 (plus $0.50 per contract for options). Mutual fund trades are a flat $9.95.

Investing Platform

Like most brokers, Ally offers a few different ways to place your trades. In addition to their website, Ally has desktop and browser-based platforms as well as an app that is compatible on Apple and Android phones and tablets. Although all of these platforms have charting and the ability to place trades, the LIVE (web browser) is probably the most aesthetically pleasing interface to trade on, showing live market headlines and real-time quotes on the major indices. However, we found that the Ally Invest website was the best place to conduct your due diligence and research of a company’s business and financials.

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