Ally Invest Rating: 
- Stocks & ETFs: $0
- Options: $0.50 per contract
- Mutual Funds: $0
- Minimum to open: $0
Overview of Ally Invest
Although Ally Bank gets more attention, Ally Financial’s brokerage arm, Ally Invest, also deserves a close look. It offers a broad menu of services, and several of them come with fairly low costs.
Investment Overview
Ally Invest provides both managed and self-directed accounts. On the managed side, there are two choices—Personal Advice and Robo Portfolios. The automated program uses exchange-traded funds, and both managed services are handled online.
Self-directed investors get access to a wider selection of assets. In addition to ETFs, there are:
- Individual stocks (including OTC and penny stocks)
- Options
- Fixed-income securities
- Mutual funds
- Closed-end funds
- Forex
- Precious metals
Securities holdings, but not forex or precious metals, receive protection from America’s primary brokerage-account insurer. SIPC provides up to $500,000 in coverage per separate capacity. Ally’s clearing firm, Apex Clearing Corp., also carries supplemental coverage that adds protection up to an aggregate firm limit of $150 million, with a combined return cap of $37.5 million per customer, including up to $900,000 in cash.
Securities accounts at Ally Invest can only be opened by U.S. residents (including foreign nationals legally residing in the United States). A Social Security Number is required; no other tax ID number is accepted.
Forex and precious metals trade in a separate account, and the rules are different there. Ally does accept applications from non-U.S. residents in this case. A valid photo ID is required along with Form W-8BEN.
Several tax structures are available, although not every account format (robo, self-directed, and wealth management) supports every one of them. They include:
- Custodial
- IRA
- Coverdell
- Trust
- Joint and individual taxable
Fees and Minimums
Both of Ally Invest’s managed programs come with minimum deposit requirements. The automated service needs at least $100 to begin, while the Personal Advice program requires a much steeper $100,000 to get started.
Personal Advice also comes with the higher fee. The blended annual advisory fee ranges from 75 to 85 basis points, depending on account size. A robo account can pay no advisory fee if it uses the 30% cash buffer. Otherwise, the annual management fee is 30 basis points.
Self-directed accounts at Ally Invest have no minimum deposit requirement, although an account with a zero balance may eventually be closed by the brokerage firm. Stocks, ETFs, and closed-end funds trade commission-free, while no-load mutual funds can be bought and sold for $0. Options cost 50¢ per contract, per side.
Trades of penny stocks (defined as a stock or ETF under $2) are subject to a $4.95 commission plus a surcharge of 1¢ per share. Trades of OTC (over-the-counter) stocks have a $100 trade minimum.
Forex accounts can get spreads as low as one or two pips, depending on the currency pair. Up to 50:1 leverage is available.
Cash Management
Even though Ally Invest is owned by the same parent company as Ally Bank, the brokerage side still doesn’t include banking tools inside its investment accounts. You can’t add check writing or a debit card to an investing account.
Ally Invest does offer an FDIC sweep program through its clearing firm, Apex Clearing. Uninvested cash is moved into participating banks, where it receives FDIC insurance, although it currently does not earn interest. Available cash can instead be used to buy a money market mutual fund, where it receives SIPC protection.
Another choice is to open a checking or savings account with Ally Bank. A deposit account can be linked automatically to the brokerage account, and one login is all you need to reach both. Some of Ally’s bank accounts also come with useful perks, such as ATM fee refunds and competitive yields.
Moving money between bank and investing accounts is fast and simple on Ally’s website or mobile app, although transfers out of an advisory account can take longer because positions may need to be sold first.
Computer Trading
Not too long ago, Ally Invest relied on TradeKing’s website for general account management and research, while LIVE, its in-house platform, handled most trading activity. The old TradeKing site has since been retired, and self-directed accounts now use the browser-based platform alone. As a result, a number of older features, including some account-management tools, have disappeared.
The browser platform still has some solid trading resources. Charts, for instance, include multiple display styles, technical indicators, and drawing tools. The order ticket has separate choices for buy to cover and sell short. There are 5 trade types, including stop limit and market on close.
Forex cannot be traded on this browser-based platform. Instead, currencies trade on dedicated forex platforms. There are three of them: MetaTrader, Ally Invest Forex Desktop, and Ally Invest Forex Web. The desktop versions are the most advanced and include many robust features, such as forex dealing boxes and charting with a large set of tools.
Securities traders get one desktop choice as well: Quotestream. This platform includes features the web platform lacks, such as a waterfall ticker, Level II quotes, and time & sales data. But Quotestream requires a trading threshold to gain access; you need more than 10 trades per month.
Mobile App
Once again, forex customers need a separate platform, either the Ally Invest Forex app or MetaTrader 4. Both include advanced tools, such as technical analysis and real-time quotes. The Ally Invest Forex app can send audio price alerts right away. Order choices include some advanced selections, including contingent and If/Then.
Securities accounts use the same app that Ally Bank customers use. Opening a brokerage account inside the app brings up the trading side. Available tools include a watchlist (which no longer appears on the website), option chains with Greek values, security analysis, news stories, and very basic charting. A chart cannot be shown horizontally, and there are no tools at all.
The app’s trade ticket cannot place mutual fund orders. But it can trade stocks and option contracts. Multi-leg options orders can be created, although there are no built-in spreads. There are 4 trade types, with market on close missing from the website’s full list.
Customer Service
Ally Invest representatives are available by phone and online chat during published service hours. The main number for investing support is 1-855-880-2559. The chat icon appears in the upper-right corner of the trading platform. For less urgent requests, there is e-mail support. The broker’s email address is support@invest.ally.com.
Because of the recent website changes, a number of self-service features have been removed. Ally Invest, like Ally Bank, still does not operate branch locations.
Margin Accounts
Ally Invest self-directed customers can short securities and buy them on margin. Unfortunately, margin requirements for individual assets are not displayed on the broker’s software. For stocks priced above $6, the initial requirement on long positions is 50%, and the maintenance requirement is 30% (or higher if the account is concentrated). The cutoff price for short positions is $5; short positions cannot be opened on equities below that level.
As for margin rates on long positions, these vary from 11.25% at the lowest rung to 6.75% at the highest.
Because of the recent website changes, it’s no longer possible to upgrade a cash account to margin status on the site.
Additional Services
Dividend Reinvestment Plan: Available for eligible U.S. equities and selected ADRs.
Securities Income Program: Ally Invest lets customers consent to a fully-paid stock lending program, and accounts are auto-enrolled once they become eligible. An account must meet at least one eligibility requirement, such as more than 5 years of trading experience.
Extended Hours: Pre-market and after-hours trading are both available for securities. Forex trades 24 hours a day, 6 days a week.
IPO Access: Not available.
Fractional-share Trading: Not available, either, for stocks and ETFs. Mutual funds can be traded with whole dollars.
IRA Service: Individual Retirement Accounts are available at Ally Invest as personal accounts (the brokerage house does not offer small business IRAs or individual 401k plans). An IRA can be opened in self-directed, robo, or wealth-management format. There is a $25 closeout fee.
Automatic Mutual Fund Purchases: Missing in action.
Day Trading: Ally’s web-based platform keeps track of an account’s day trades.
Our Recommendations
Mutual Fund Trading: Ally Invest no longer includes a screener for mutual funds. Because of that,
we don’t recommend it here. Firstrade offers a mutual fund screener and commission-free trading on more than 11,000 funds.
Long-Term Investors & Retirement Savers: Although Ally Invest offers IRAs, it lacks many
other tax structures, such as solo 401k plans or estate accounts. Its website also doesn’t provide many retirement
resources. We suggest
Charles Schwab instead.
Stock and ETF Trading: Ally Invest’s browser platform does a respectable job, although a more
advanced setup—with fractional shares, no trading minimums, and a desktop platform—will be
found at Webull.
Small Accounts: Both advisory and brokerage customers can avoid several minimums
and fees at Ally by moving over to
Robinhood.
Beginners: An Ally Invest managed account, whether robo or wealth management,
can be a reasonable place to start.
Ally Invest Review Recap
Ally Invest has built a varied lineup of investment services, although not every area
stands out from the competition. Its forex offering, which is uncommon among securities brokers,
may be its most distinctive feature.
Ally Brokerage Commissions
| Investments | Price |
|---|
| Stocks and ETFs | $0 |
| Options | $0.50 per contract |
| Mutual funds | $0 for no-load funds |
| Bonds | $1 per bond with $10 minimum, $250 maximum |
| Treasuries | commission-free |
| Certificates of Deposit (CDs) | $24.95 |
| Forex | Pay based on buy/sell spread, no commissions. |
Ally IRA & Account Fees
| Fee | Amount |
|---|
| IRA Setup Fee | $0 |
| Annual IRA Fee | $0 |
| IRA Termination Fee | $25 |
| Full Account Transfer Out | $50 |
| Outgoing Wire Fees (Domestic) | $30 |
Updated on 4/14/2026.