2024: Ally bank U.S. Treasury t-bonds, t-bills, tips, frn and t-notes trading - 1 year, 5 years, 10 years maturity. Ally corporate and municipal bonds minimums and commission rates.

Can I Buy Treasury Bonds at Ally Invest?

If you’re looking for a brokerage firm where you can buy and sell Treasury bonds, Ally Invest is worth checking out. Although it succeeds in some areas, it fails in others. We have the details you need.

Commissions on Treasury Bonds at Ally Invest

Ally Invest customers pay $1 per security for every trade of Treasury bills, notes, or bonds. There is a $10 minimum commission per trade and a $250 maximum.


Treasury Education at Ally Invest

Ally Invest does not provide any learning materials geared towards Treasury bonds or other fixed-income vehicles.


Finding Treasury Securities at Ally Invest

To find U.S. government debt available for trading at Ally Invest, log into the Ally site and click on your self-directed investing account. Doing so will pull up the trading platform where Treasuries can be investigated.

To get started, click on the Trading link in the top menu and select fixed income from the drop-down menu. The next page will present a link for Treasury Rates. Click on this link to generate a drop-down window of various yields and their maturities. These aren’t hyperlinked; they are for information only.


Can I Buy T-Bonds on Ally Invest?


To find actual bonds available for trading, there are some tabs lower down the page. One of them is for Treasuries, and the other is for STRIPS and Zeros. Click on either one to get a search engine where variables can be specified. Examples include:

- Maturity
- Coupon
- Yield
- Coupon months

After filling in your required parameters, click on the button to find bonds. Now you’ll see a list of bonds with various pieces of information. These include prices on both the buy and sell sides along with the available quantity and the minimum order amount.

On the bond search wizard, there is a row of tabs with additional tools. One of these is Offerings. Hovering over this will produce a drop-down menu with a link to see new offerings. This can be used to find new issues of Treasury securities.

A Bid Wanted tab can be used to submit a bid on a bond. Quantity and CUSIP are required fields.

Under the Tools tab, there is a bond calculator. This is a handy widget that can be used to calculate all sorts of different numbers on a bond with a specified maturity and coupon.


Treasury Bond Profiles

Each asset in the list of Treasury bonds is hyperlinked. Hovering over a link will generate a pop-up window with more details, such as coupon type and payment frequency. Actually clicking on a link will produce a new page with more details integrated with the website’s order ticket. The details include the following particulars:

- Payment months
- Call schedule
- Accrued interest
- Yield to worst
- Order quantity

Some bonds will have Market Depth, which is multiple prices across multiple quantities. These different prices will naturally have different yields.


Best Ally Alternatives



How to Buy a Bond at Ally Invest

To submit an order, the order quantity on the profile page we have just visited obviously needs to be filled in (everything else will already be populated). The quantity should be the number of bonds, not the dollar amount. For example, to buy $7,000 of a bond with a face value of $1,000, you would enter a 7.

Once you enter the quantity you want, click on the preview button. Now you’ll see the projected commission of the trade, which will be at least $10, as already noted. If everything looks okay, go ahead and submit the order.


Schwab as an Alternative

As already mentioned, Ally Invest falters in several areas for Treasury bonds. Schwab provides many solutions to these failures; we will look at them now.

First, Schwab’s website and mobile app deliver lots of education on Treasury securities. On the mobile app, these helpful materials will be found under the Learn tab. On the website, they can be located under the Research, Learn, and Products tabs. Here are a few articles we found:

- Bond Investment Strategies
- TIPS Price Drops
- 8 Common Bond Yields
- Understanding Bond Yield Measurements


Can I Buy T-Bills on Ally?


Second, Schwab has better pricing on Treasury trades. The online commission is $0, which obviously beats Ally Invest by $10 and maybe more. One area where Schwab is more expensive is on a representative-assisted trade. It charges $25, while Ally Invest is at $20 additional.

Third, Schwab has better software for bond trading. For example, its matrix of bond yields actually has hyperlinked yields. Clicking on one of them is an easy way to pull up a list of Treasury securities that match the yield-maturity specification.

Fourth, Schwab’s order ticket is easier to use than Ally’s. It has two order types (limit and market), whereas Ally’s only has market.

Fifth, there is a ladder builder on Schwab’s website that Ally fails to deliver. This widget can be used to create a multi-leg purchase for several Treasury securities at once. To locate this tool, simply go to the bond hub, which can be found underneath the Trade tab. Look for the tab for the CD & Treasury Ladder Builder. It’s possible to add up to 10 Treasury bonds to a single trade.


Can You Buy treasury on Ally?


Finally, Schwab has a discrete bond desk with agents who specialize in fixed income. It’s possible to have one of them call you if you need any extra help. There’s no charge for this great service.


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