Ally Invest versus JP Morgan Chase You Invest Trade brokerage firms comparison: IRA, fees, commissions, stocks/funds offerings, differences, pros and cons. Which broker to choose?

Overview

Traders at Ally Invest and Chase You Invest can get free stock and ETF trades. Does that mean you should pick either one without considering other issues? Let’s take a look.

Category #1: Pricing

Chase Investments Review
Rating Ally Invest rating 3-star brokerage firm rating
Stocks, ETFs $0 $0
Options (per contract) $0.50 na
Mutual Funds $9.95 $0
Initial Funding Requirement $0 $0
Inactivity Fee $0 $0
IRA Annual Fee $0 $0
IRA Termination Fee $25 $75
Full Account Transfer Out$50$75
Partial Account Transfer Out$10.00 per security, $50 maximum$75
Promotion Up to $3,500 cash bonus + $0 trades + transfer fee rebate. Commission-free online stock, ETF, and options trades.


As you see from the table above, both brokers are evenly priced.


Category #2: Available Investments

Ally Invest clients have a large selection of financial instruments to choose from: equities (including penny and OTC stocks), forex, options, bonds, and funds (including mutual, closed-end, and exchange-traded). Forex must be traded in a separate account.

Chase You Invest customers have a smaller selection. Forex is not available, nor are penny or OTC stocks. The broker-dealer is currently rolling out margin and options trading, and not all accounts are eligible.

Ally Invest is the better choice in the second category.


Category #3: Mobile Platforms

Ally Invest’s mobile app offers good charting with several graph display choices, technical indicators, and a horizontal viewing option. The trade ticket is easy to use and provides several order choices. Option contracts can be traded on the app, too. Because Ally Invest’s app is integrated with Ally Bank, there are several money management tools, including bill pay, check deposit, and Zelle transfers.


Ally vs Chase


Chase You Invest’s app provides charting at an elementary level. There isn’t a horizontal mode, for example, and there are no tools to report on. The trade ticket does have several good features, such as on-the-close orders and stop orders.


Chase You Invest vs Ally Invest


Similar to the Ally app, the You Invest app is integrated with its parent bank. There is an ACH transfer tool, bill pay, and mobile check deposit; but there’s no Zelle system.

Ally Invest is our pick here.


Category #4: Website Trading

When Ally Invest took over from TradeKing, the former simply took over the latter’s website interface. To this day, Ally is still using it, and it’s rather simple. Nevertheless, we did find it effective for trading and research purposes during our testing.

There is a trade bar near the bottom of the browsing window. It provides up-to-the-second data points on important trade issues, such as volume and the day’s price change. A chart can be accessed from the bar, and trades can be submitted directly from it. Besides equities and ETFs, derivatives can be traded using the tool.

The website itself has a trade ticket that can be used on a simple web page. We found on-the-close orders, OCO, one-triggers-other, contingent, and a few other advanced order types.

The broker-dealer also provides Ally Invest LIVE, a browser platform with even more features. There are tiles on LIVE that provide many different functions. One is a market clock, while another shows order status. Charting can be performed in full-screen version with technical studies and drawing tools.

While Chase You Invest’s site it is not overly complicated, there are many features missing that we would like to see. First up is a trade bar, which as we noted, does appear on Ally Invest’s site. Also missing is a browser platform.


JP Morgan vs Ally Invest


So You Invest customers get simple web pages for their trading software; and they don’t provide very much. The order ticket delivers limit, market, and stop orders. Charting is fairly simple with a few technical studies, comparisons, and company events.

During our research, we were not able to figure out how to trade fixed-income securities on the You Invest site. Probably they have to be traded with a rep over the phone. On LIVE, it is very easy to search for bonds and trade them.

Ally Invest takes its fourth victory.


Category #5: Desktop Software

Traders at Ally who meet the broker’s account requirements can use Quotestream. This is a desktop trading system that offers some really advanced features not available on LIVE. For example, Quotestream comes with Level II data and advanced charting features, such as tick-by-tick pricing. There are also two desktop platforms for the company’s forex customers.


Ally Live


Chase You Invest does not have any type of desktop software and so loses another category.


Category #6: Learning Materials

Ally Invest traders can sign up for webinars (both live and on-demand). There are also videos and articles on some investing topics; although these resources tend to be rather short. Security profile pages at Ally are also rather brief. The broker-dealer offers just one analyst, CFRA, for stock reports.

At Chase You Invest, we found a better selection of articles and videos. Stock reports are available through JPMorgan; and we really did like the broker’s user-friendly investment screeners. They offer many search criteria.

Pretty even in this category.


Category #7: Portfolio Management

Both brokerage firms in this competition offer their customers managed account services. Ally Invest currently offers a hybrid robo-human package with traditional advisors initially selecting portfolios and then software programs taking over from there. Ally's Cash-Enhanced Managed Portfolio is free with a $100 minimum balance.

You Invest Portfolios is Chase’s managed account service. The firm charges 0.35% annually and requires $500 to get started. Some of the ETFs traded in the program are JPMorgan ETFs, which seems like a conflict of interest to us.

Our pick here is Ally.


Category #8: Other Services

Besides traditional and Roth IRAs, Ally Invest customers can also open SEP and SIMPLE accounts. DRIP service is available, but not periodic deposits into mutual funds.

Chase You Invest offers only Roth and traditional IRAs. However, it does provide free DRIP service and automatic investing in mutual funds.

Overall, a draw here.


Our Recommendations

Beginners: With better customer service and an easy-to-use browser platform, we recommend Ally Invest over its rival.

Mutual Fund Traders: We suggest You Invest because every fund has no load and no transaction fee. At Ally Invest, every fund has either, or.

Retirement Savers and Long-Term Investors: With a larger selection of IRAs, we’re going with Ally Invest.

ETF and Stock Trading: Ally’s software makes it a much better pick than You Invest.


Promotions

Ally Invest: Up to $3,500 cash bonus + $0 trades + transfer fee rebate.

Chase You Invest: Commission-free online stock, ETF, and options trades.



Ally Invest vs Chase You Invest: Results

Ally Invest defeated You Invest in the vast majority of areas. Combined with a better commission schedule (except on mutual funds), it is far ahead of Chase.



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