Ally Invest brokerage review: pros and cons, fees, minimums, ratings, trading platform, research tools, education and customer service.


Rating:  Ally Invest rating

  • Stocks & ETFs: $4.95 ($3.95 for 30+ trades in 90 days or $100K account balances)
  • Options: $4.95 + $0.65 per contract ($3.95 + $0.50 per contract for 30+ trades in 90 days or $100K account balances)
  • Mutual Funds: $9.95

Ally Invest Review

In addition to many online banking products, Ally Financial provides great brokerage services. Let's take a closer look at their online brokerage side of the business.

Ally Invest Fees & Commissions Review

Ally Invest charges $4.95 per trade on stocks and ETFs and $4.95 base rate plus $0.65 per contract on options. The company introduced even lower commissions for active traders and high net worth investors. A stock or ETF trade will cost only $3.95 if a customer makes 30 or more trades in the prior calendar quarter or maintains an average daily balance of more than $100,000 in the prior calendar quarter.

Ally Invest does not have a surcharge for automated phone trades, while most of the other companies have significant fees for that service.

The broker offers a huge selection of load and no-load mutual funds. Price for buying and selling mutual funds is among the lowest in the industry - only $9.95 per trade. To compare, TD Ameritrade charges $49.99, Fidelity - $49.95, and Merrill Edge is at $19.99.

Ally Invest offers a range of popular IRA accounts, and the firm does not charge set up and maintenance fees on any of them. However, there is an IRA closure fee of $50 and the same charge for full outgoing account transfer.

Up to $3,500 cash bonus + commission free trades for new accounts.

There is no minimum deposit or minimum balance required to open an account at Ally Invest. Another nice feature is that the broker's Dividend Reinvestment Plans (DRIPs) are available at no charge.

Ally Invest Trading Tools and Mobile Trading Review

Ally Invest is a low cost brokerage firm, but it does not look like it when you'll see their advanced trading tools. All customers have access to interactive charts that offer technical and volatility indicators; technical analysis (including educational support, price forecasting, and chart pattern recognition). The broker also provides free access to a third-party research from MarketGrader - an analytical analysis tool that is used to grade stocks.

Ally Invest review

The firm offers free access to Ally Invest LIVE - its fully customizable web-based trading platform. Because of the responsive design of the platform, great experience is guaranteed on a device of any size.

Ally Invest review

Ally Invest LIVE allows investors easily place a trade from a new ticket window that opens on the right side of the screen. In addition, investors can monitor their existing and potential investments in real time. Streaming quotes are available for free to active investors.

Ally Invest review

Ally Invest's mobile apps are available for the iPhone/iPad and Android. Broker's mobile apps allow to enter stock, ETF or options orders, check order status and account activities, monitor watchlists, and perform other popular brokerage account functions.

Ally Invest Customer Service & Education Amenities Review

Ally Invest offers an exceptional customer service. They promise to answer all calls in a matter of seconds, and they do deliver on the promise. There are numerous positive reviews on the Internet with clients praising representatives prompt response via phone and emails. Ally Invest has been recognized consistently by respected industry publications such as SmartMoney and Barron's for its customer service.

Company's representatives can be reached via email and phone 24/7. There is also live chat support available, which is what customers prefer if they have a relatively simple question.

The company offers an extensive education for investors at every experience level: videos, articles, charts and even live webinars.

Ally Invest Advantages

  • Very low commissions
  • Excellent customer support via email, phone and chat
  • Customizable trading platform
  • Free dividend reinvestment plans (whole and fractional shares)
  • Free real time streaming quotes for active traders
  • Free access to MarketGrader's research reports
  • Extensive educational resources
  • Great online banking rates

Ally Invest Disadvantages

  • A single source of third-party research

Ally Invest Review Summary

Ally Invest is offering some of the lowest commissions in the industry: $9.95 on mutual funds and $4.95 on stocks and ETFs. Furthermore, even lower commissions are offered for active traders (30 trades in 90 days) and high net worth investors ($100,000+ account balance).

There is no initial deposit to open a taxable brokerage or an IRA account at Ally Invest. Basically, anyone can start investing with the company with no commitment and no fees to maintain an account.

The broker has no hidden fees. All the broker's fees are clearly listed and easy to understand.

Ally Invest does not charge a set-up fee and an annual fee for IRA accounts. However, the brokerage has an IRA closure and an IRA transfer fee.

Great educational resources, excellent customer service and high recognition by the industry's most respected publications put Ally Invest at the top among brokerage houses in the country.

How safe is Ally Invest? The firm is a member of FINRA (Financial Industry Regulatory Authority) and SIPC (Securities Investor Protection Corporation). SIPC provides insurance coverage up to $500,000 of the customer's net equity balance, including up to $250,000 in cash. For this reason Ally Invest is a perfectly safe brokerage firm.

In summary, Ally Invest is one of the industry's leading low-cost brokers for self-directed investors with a broad array of investment and banking offerings, advanced trading technology and excellent customer service. It is a very strong contender in very competitive online investing industry that deserves serious consideration.


Ally Invest Promotion Offer For A New Account

Up to $3,500 cash bonus + commission free trades for new accounts.

Open Ally Invest Account

Ally Invest Commissions and Fees

InvestmentsPrice
Stocks and ETFs $4.95. Special rates: $3.95*
Options $4.95 + $0.65 per contract. Special rates: $3.95 + $0.50*
Mutual funds $9.95
Futures$0.85 per contract up to 250 contracts, $0.65 per contract 251-2000 contracts, $0.45 per contract over 2000 contracts
Bonds $1 per bond with $10 minimum, $250 maximum
Treasuries commission-free
Certificates of Deposit (CDs) $24.95
ForexPay based on buy/sell spread, no commissions.
All Ally Invest fees »

* - $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 IRA & Account Fees

FeeAmount
IRA Setup Fee$0
Annual IRA Fee$0
IRA Termination Fee$50
Full Account Transfer Out$50
Partial Account Transfer Out$10.00 per security, $50 maximum
Outgoing Wire Fees (Domestic)$30
Account Closing Fee$0
AllAlly Invest IRA fees »

Open Ally Invest Account

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Ally Invest reviewed by TopRatedFirms.com Rating: 5