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Ally Invest IRA Reviews: Roth IRA, Traditional IRA, SEP IRA, SIMPLE IRAs. Retirement accounts fees, commissions, rating, advantages and disadvantages.

  • IRA setup fee: $0
  • Annual IRA fee: $0
  • Termination fee/transfer funds: $50


Offer: Get $3.95 stock trades if you make 30+ trades per quarter or have 100K account balance.


Ally Invest IRA Account Review

With a good selection of fee-free IRAs, no minimum requirements to start a retirement account, lowest pricing on the market and powerful trading tools, Ally Invest IRAs are worth taking a look at.

  • Traditional IRA
  • Rollover IRA
  • Coverdell Educational Savings Account (ESA)

Ally Invest is less advertised and hence a lesser-known broker in the country. However, after its latest acquisition of Zecco and MB Trading, Ally Invest has become the sixth largest brokerage firm. Those acquisitions allowed Ally Invest to diversify its financial services, improve its trading tools and become a strong competitor against the well-known reputable yet more expensive IRA providers like Vanguard, Charles Schwab and Fidelity.


Ally Invest IRA Fees and Commissions

Investors woiuld be delighted to see that as an IRA provider, Ally Invest offers a wide variety of investments (stocks, ETFs, mutual funds, bonds, treasuries, CDs), has the industry's lowest possible commissions ($4.95 per trade) and offers competitive IRA fees. In addition, a retirement account can be opened with no initial deposit, which can become a key factor for someone investing for retirement for the first time.

Overall, Ally Invest is a very well-priced brokerage with clear and straightforward fees. So, IRA account holders can enjoy peace of mind and expect no hidden fees from Ally Invest. The lack of annual IRA fees and no maintenance fees are great advantages for those investors who are looking for a low-cost retirement solution.

One drawback as far as fees are concerned is the $50 fee to transfer and/or close funds out of your Roth, Traditional or SIMPLE IRA. This is really the one aspect where Ally Invest is more expensive than, for example, TD Ameritrade, which togehther with Ally Invest belong to the best brokerage IRA providers.

When it comes to trading commissions, the brokerage has some of the industry’s lowest possible commissions. Either of the two Ally Invest's acquisitions did not affect the broker's commissions or its fee schedule. In fact, trades on stocks and ETFs are priced at $4.95, which has remained unchanged since 2005.

A number of mutual funds provided by a broker and its cost are often considered as one of the main criteria for choosing a company for opening a retirement account. Ally Invest has a lot to offer in this department. The brokerage offers over 12,000 US-based load and no-load mutual funds and one of the lowest commissions, which are only $9.95 to buy or to sell. TD Ameritrade (over 13,000) offers wider selections of funds, yet commissions are higher for TD Ameritrade ($49.99). Fidelity charges $49.99 ($75 for some funds), while Schwab requires $76.

Ally Invest, which has a great commission on bonds (only $1 with $10 minimum), offers commission-free Treasuries. Certificates of deposit (CDs) cost $24.95.


Ally Invest Trading Tools, Education & Research for Retirement Savings

The broker's fully customizable web-based platform is pleasant and easy to use even for beginners. Interactive charts, free indicators, powerful tools and account balances are quick and easily accessible through a clean menu. A trade can be placed from any page via Quick Trade Ticket accessible via the blue 'Trade' button at the top right corner.

Needless to say, Ally Invest is known for its outstanding research. A free third-party research is a great advantage as a low-cost company. Powerful tools, interactive charts, free indicators are all offered at no charge.

In addition, all Ally Invest IRA account holders can take advantage of the broker's free dividend reinvestment plans to increase their savings potentially.

The company offers exceptional customer support and an extensive education- a lot of videos, articles, charts and even live webinars-for any type of traders at any experience level.


Ally Invest IRA Pros

  • Very low commissions
  • Excellent customer support via email, phone and chat
  • Customizable trading platform with responsive design
  • Free DRIPs/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
  • Online banking
  • Extra hours trading


Ally Invest IRA Cons

  • A single source of third-party research


Ally Invest ROTH, Traditional, SIMPLE IRA Review Summary

A low investing price and lack of IRA fees are the main advantages of Ally Invest. If you are new to retirement investing, Ally Invest is a good start. The broker can be perfect for those people who consider opening a second IRA or rolling over a 401(K).

Investment options, trading platforms and customer support are other benefits to consider when choosing a broker for a retirement account. Ally Invest has it all - a great selection of investments for retirement savings, including certificates of deposit and bonds, interactive and easy-to-use trading platform and outstanding customer service.


Ally Invest IRA Offer

Switch to Ally Invest and get up to $150 in transfer fees reimbursed.

Open Ally Invest Account



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