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

Overview

Ally Invest has recently matched Webull’s $0 stock commission. But does that mean both brokerage firms are much the same? Let’s place these brokers side by side and see if one proves to be the better value.

Category #1: Pricing

Rating Ally Invest rating Webull Rating
Stocks, ETFs $0 $0
Options (per contract) $0.50 $0.00
Mutual Funds $9.95 n/a
Initial Funding Requirement $0 $0
Inactivity Fee $0 $0
IRA Annual Fee $0 $0
IRA Termination Fee $25 $0
Outgoing Wire Fees (Domestic)$30$25
Full Account Transfer Out$50$75
Partial Account Transfer Out$10.00 per security, $50 maximum$75
Open an account Up to $3,500 cash bonus + $0 trades + transfer fee rebate. Grab your last chance to get 2 free stocks up to $1,400 + acat refund.


As you see from the table above, Ally Invest and Webull are equally priced.


Category #2: Available Investments

Webull offers ETFs and stocks. There are currently no other investments available. Even worse, over-the-counter stocks aren’t available, and penny stocks have restrictions. The broker promises that options trading will be available soon.

Besides ETFs and stocks, Ally Invest offers closed-end funds, option contracts, mutual funds, and bonds. Penny stocks (with surcharges) and OTC stocks are available as well. Forex can be traded in a discrete account.

Ally Invest clearly wins the second category.


Category #3: Mobile Platforms

The Ally Invest mobile platform is accessed via Ally Bank’s app. After getting to the investment side, we found horizontal charting with multiple timeframes, graph styles, and technical studies. The order ticket offers stop limit and trailing stop orders. Extended-hours trading is available, and options can be traded on the platform as well as stocks and ETFs. Other highlights not to be missed on Ally Invest’s platform include Zelle money transfers, bill pay, and mobile check deposit.


Ally vs Webull


Over at Webull, we found an app without bill pay, Zelle transfers, or mobile check deposit. There is an ACH tool, though. The trade ticket is a little more complicated than Ally’s, but somehow manages to have fewer order types.


WeBull Limit Order


Charting on the Webull app offers a much more sophisticated experience than Ally’s basic graphs. There are drawing tools, comparisons, and a replay of the day’s price action. Horizontal viewing of course is possible. And a final feature unique to Webull’s app is dual charting, where two small graphs of two stocks are shown side-by-side.


WeBull Review: Charting


The best feature on Webull’s app for beginners is paper trading, something that’s missing on Ally’s platform.

Webull is the victor in the third category.


Category #4: PC Trading

When we logged into our Ally Invest trial account, we were surprised to see how simple the broker’s website was. Although the login is the same as for Ally Bank accounts, the interface is borrowed from the old TradeKing site.


Ally Invest vs Webull


On the positive side, we did like Ally Invest’s trade bar, which can be found at the bottom of the site. After entering a ticker symbol, we were able to see real-time information on volume, bid-ask spread, and other important trading criteria. Trades can be placed directly on the bar (option trades included), and a small chart is an added plus.

The website has a decent trading ticket with a variety of trade types. Stop limit, market-on-close, one-cancels-other, contingent, and one-triggers-other are just a few examples. Multiple watchlists can be created, and alerts are integrated.

Traders who aren’t satisfied with the website can turn to LIVE, the broker’s browser platform. It offers better charting with full-screen mode and more drawing tools. The order ticket actually offers fewer order types.


Ally vs Webull


Clients who meet certain trading and account minimums get access to Quotestream, a desktop software program. It offers Level II quotes and tick-by-tick charting. Forex traders can use MetaTrader 4 or Ally’s in-house platform. Standard features like dealing boxes, trade automation, and charting are available.

Webull’s website has no trading capability. It is used mainly for advertising the company’s brokerage services. The company has one platform, and it can be used within a web browser (app.webull.com) or launched as a desktop program. In either case, the interface and features are the same.


Webull vs Ally


Like the mobile app, the computer platform offers a simulated trading mode, a major advantage for beginners. Full-screen charting is possible, but the platform has far fewer technical indicators than LIVE. We did find eight graph styles and right-click trading.

An entered ticker symbol shows whether a stock is shortable, and what the margin requirements are for both long and short positions.

The trade ticket on Webull’s platform has a take-profit order, something that doesn’t exist on Ally’s software. Nevertheless, Webull’s system has far fewer order types than Ally’s website. A default watchlist is on the platform, and entries can be added and deleted. The software offers alerts and notes as well.

Ally Invest wins this category.


Category #5: Learning Materials

Ally Invest posts live and recorded on-line events on its website. It’s easy to register for the live events. We were less impressed with the company’s collection of videos and articles on investing education. The assortment is rather brief, and many topics are left out. Stock reports are offered by just one analyst, CFRA.

Webull’s website, as already alluded to, has no research materials of any kind. The broker’s trading platform displays links to news articles, forex rates (the currencies can’t be traded), and upcoming IPO’s. The day’s top gainers and losers are shown, along with hot industries. Details on cryptocurrencies and global exchanges are available, but nothing can be traded.

Webull does not provide stock reports, and there are no general investment education materials. But we did like a community forum on its mobile app, where customers can connect with each other.

We’ll call it a tie here.


Category #6: Other Services

Webull doesn’t offer a DRIP plan, but it has recently added Roth and Traditional IRAs. Ally Invest has Roth and Traditional accounts plus SIMPLE and SEP IRAs. The broker also offers a free DRIP service.

Neither firm offers automatic investing in mutual funds. Ally Invest customers can setup recurring account deposits; Webull clients cannot.

Ally Invest looks like the top dog here.


Promotions

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

Webull: Grab your last chance to get 2 free stocks up to $1,400 + acat refund.



Our Recommendations

Beginners: If you’re a new trader, we think Ally Invest’s learning materials and customer service are your best bet.

Mutual Fund Traders: For obvious reasons, we suggest Ally Invest.

Retirement Savers and Long-Term Investors: Ally Invest’s managed account services, large selection of mutual funds, and larger IRA assortment causes us to recommend it over its rival.

ETF and Stock Trading: We can defend either broker.


Ally Invest vs Webull: Results

With a $0 equity commission schedule, Ally Invest is the better value.




Webull


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