Ally brokerage day trading rules, platform, margin account requirements, active trader buying power limits, calls, fees and $25,000 minimum equity balance SEC/FINRA restrictions.

Day Trading on Ally Invest

For day trading, Ally Invest may not be the most popular of brokerage firms. But it does offer some basic tools and a decent commission schedule. Let’s check it out.

Ally Day Trading Platforms

Ally Invest LIVE is the broker’s browser platform. It is able to provide real-time data on stocks, ETF’s, and options. The software’s order ticket provides market, limit, stop, trailing, and market-on-the-close orders. Unfortunately, the platform doesn’t provide Level II quotes or direct-access routing.

Charting offers many technical studies. We counted about 100 of them. Some of the available choices include Alligator, Keltner Channel, and Price Oscillator. The smallest timeframe available is one-minute intervals. Five-minute intervals can be selected as well. Display styles include bar, candle, and volume candle.


Ally Invest Day Trading Chart


The order form on LIVE can be placed directly to the right of a chart so that an order can be placed quickly while monitoring price action. Right-click trading is not possible, although a trade button is in the upper-right portion of the platform.


Ally Invest Day Trading


The broker’s desktop software Quotestream is available to active traders (defined as a minimum of 30 or more trades per quarter, or $100,000 in assets). The software does have Level II quotes, so obviously this is an important advantage over LIVE for day traders. Another great feature is tick-by-tick price history on a chart.

The third platform available to Ally’s day traders is the broker’s forex platform. This desktop software offers stop, limit, market, and contingent orders (such as OCO and if/then orders). Charting comes with technical indicators, and dealing boxes provide trading capability. A close button makes closing a position quick and easy. The forex arm of Ally currently offers over 50 currency pairs, and traders get 50:1 leverage.

Besides its own software, Ally Invest also offers MetaTrader 4 to its forex customers. A forex mobile app is available, too.

Although trading is possible on Ally Invest’s website, it’s not possible to trade currencies. As for securities, a chart cannot be displayed next to the order form.

Incentive


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Commission Schedule

Ally Invest does not charge commissions on forex trades. Instead, it is compensated by the bid-ask spread, which can vary day to day. As for stocks and ETF’s, the trade fee is $4.95 ($3.95 for active traders who qualify for Quotestream). Options are 65 cents extra (50 cents for active traders). The broker-dealer has over 100 ETF’s that are available commission-free.

Ally Invest does not charge any account fees. Securities accounts have no minimum deposit requirement, while currency accounts require $50 to begin.

Judgment

Ally Invest does a good job delivering day-trading services and software.

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