The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.
Is Charles Schwab better than Ally Invest? After scoring brokers in nine separate categories for our 2019 review, Charles Schwab (84.06%) is better than Ally Invest (62.44%).
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Special Offer
$0 online stock, ETF, and options commissions at Schwab. Open Account
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| Open Account |
| Feature | Charles Schwab | Ally Invest |
| Overall | ||
| Charles Schwab Review | Ally Invest Review |
| Feature | Charles Schwab | Ally Invest |
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trade Fee (per trade) | $0.00 | $0.00 |
| ETF Trade Fee | $0.00 | $0.00 |
| Options Base Fee | $0.00 | $0.00 |
| Options Per Contract Fee | $0.65 | $0.50 |
| Mutual Fund Trade Fee | $49.95 | $9.95 |
| Broker Assisted Trades Fee | $25.00 | $20.00 |
| Commissions & Fees | ||
| Winner | check_circle |
| Feature |
Charles Schwab
Open Account |
Ally Invest |
| Under $24,999.99 | 9.58% | 9.75% |
| $25,000.00 to $49,999.99 | 9.08% | 9.50% |
| $50,000.00 to $99,999.99 | 8.13% | 8.75% |
| $100,000.00 to $249,999.99 | 8.08% | 7.50% |
| $250,000.00 to $499,999.99 | 7.83% | 6.50% |
| $500,000.00 to $999,999.99 | 6.58% | 6.00% |
| Above $1,000,000.00 | 6.25% | 5.25% |
| Commissions & Fees | ||
| Winner | check_circle |
| Feature | Charles Schwab | Ally Invest |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $50.00 | $50.00 |
| Returned ACH Fee | $25.00 | $30.00 |
| Returned Wire Fee | $25.00 | $30.00 |
| Stock Certificate Processing Fee | $100.00 | $300.00 |
| Stock Certificate Delivery Fee | N/A | $300.00 |
| Paper Statement Fee | $0.00 | $2.00 |
| Paper Confirmation Fee | $0.00 | $1.00 |
| Domestic Wire Fee | $25.00 | $30.00 |
| International Wire Fee | $25.00 | N/A |
| Commissions & Fees |
| Feature | Charles Schwab | Ally Invest |
|
Stock Trading |
Yes | Yes |
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OTCBB / Pink Sheets |
Yes | Yes |
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Options Trading |
Yes | Yes |
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Complex Options Max Legs |
4 | 4 |
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Futures Trading |
Yes | No |
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Forex Trading |
No | Yes |
| Commission-Free ETFs | all | all |
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Mutual Funds (No Load) |
5846 | 7200 |
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Mutual Funds (Total) |
5846 | 14000 |
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Bonds (US Treasury) |
Yes | Yes |
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Bonds (Corporate) |
Yes | Yes |
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Bonds (Municipal) |
Yes | Yes |
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Advisor Services |
Yes | Yes |
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International Trading |
Yes | No |
| Offering of Investments | ||
| Winner | check_circle |
| Feature | Charles Schwab | Ally Invest |
|
Order Type - Market |
Yes | Yes |
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Order Type - Limit |
Yes | Yes |
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Order Type - Stop |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | Yes |
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Order Type - Contingent |
Yes | Yes |
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Order Type - MultiContingent |
Yes | No |
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Order Type - OCO |
Yes | Yes |
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Order Type - OTO |
Yes | Yes |
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Order Type - OTOCO |
Yes | No |
| Offering of Investments | ||
| Winner | check_circle |
| Feature | Charles Schwab | Ally Invest |
|
Desktop Platform (Windows) |
Yes | No |
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Desktop Platform (Mac) |
Yes | No |
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Web Platform |
Yes | Yes |
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Paper Trading |
No | No |
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Trade Journal |
Yes | No |
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Watch Lists - Total Fields |
108 | 21 |
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Two-Factor Authentication Login |
Yes | Yes |
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Heat Mapping |
Yes | No |
| Platforms & Tools | ||
| Winner | check_circle |
| Feature | Charles Schwab | Ally Invest |
|
Charting - Trade Off Chart |
Yes | No |
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Charting - Indicators / Studies |
41 | 117 |
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Charting - Drawing Tools |
15 | 36 |
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Charting - Historical Trades |
No | No |
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Charting - Corporate Events |
Yes | Yes |
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Charting - Automated Analysis |
Yes | Yes |
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Charting - Save Profiles |
Yes | Yes |
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Charting - Study Customizations |
6 | 5 |
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Charting - Custom Studies |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
| Feature | Charles Schwab | Ally Invest |
|
Stock Alerts - Basic Fields |
Yes | Yes |
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Stock Alerts - Advanced Fields |
Yes | No |
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Streaming Time & Sales |
Yes | No |
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Streaming TV |
Yes | No |
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Direct Market Routing - Stocks |
Yes | No |
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Direct Market Routing - Options |
No | No |
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Ladder Trading |
No | No |
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Trade Hot Keys |
Yes | No |
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Level 2 Quotes - Stocks |
Yes | No |
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Level 2 Quotes - Options |
Yes | No |
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Trade Ideas - Backtesting |
Yes | No |
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Short Locator |
No | No |
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Client Liquidity Rebates |
No | No |
| Winner | check_circle |
| Feature | Charles Schwab | Ally Invest |
|
iPhone App |
Yes | Yes |
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Android App |
Yes | Yes |
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Apple Watch App |
Yes | No |
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Trading - Stocks |
Yes | Yes |
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Trading - After-Hours |
Yes | No |
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Trading - Conditional Orders |
No | No |
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Trading - Mutual Funds |
Yes | No |
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Trading - Simple Options |
Yes | Yes |
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Trading - Complex Options |
Yes | Yes |
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Trading - Option Rolling |
No | No |
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Touch / Face ID |
Yes | Yes |
| Winner | check_circle |
| Feature | Charles Schwab | Ally Invest |
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Watch List Syncing |
Yes | Yes |
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Stock Alerts - Basic Fields |
No | No |
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Charting - After Hours |
No | No |
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Charting - Drawing |
No | No |
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Charting - Study Customizations |
Yes | No |
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Customizable Homescreen |
No | No |
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Heatmapping |
Yes | No |
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Stream Live TV |
Yes | No |
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Barcode Lookup |
No | No |
| Mobile Trading | ||
| Winner | check_circle |
| Feature | Charles Schwab | Ally Invest |
|
Research - Stocks |
Yes | Yes |
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Research - ETFs |
Yes | Yes |
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Research - Mutual Funds |
Yes | Yes |
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Research - Pink Sheets / OTCBB |
Yes | Yes |
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Research - Fixed Income |
Yes | No |
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Screener - Stocks |
Yes | No |
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Screener - ETFs |
Yes | No |
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Screener - Mutual Funds |
Yes | No |
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Screener - Options |
Yes | No |
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Screener - Bonds |
Yes | No |
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Misc - Portfolio Builder |
Yes | Yes |
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Misc - Portfolio Allocation |
Yes | No |
| Research | ||
| Winner | check_circle |
| Feature | Charles Schwab | Ally Invest |
|
Stock Research - Reports |
8 | 2 |
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Stock Research - Earnings |
Yes | No |
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Stock Research - Insiders |
Yes | No |
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Stock Research - Metric Comp |
Yes | No |
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Stock Research - SEC Filings |
Yes | No |
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Stock Research - Social |
Yes | No |
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Stock Research - Balance Sheet |
Yes | No |
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Stock Research - Cash Flows |
Yes | No |
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Stock Research - News |
Yes | Yes |
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Stock Research - ESG |
No | No |
| Research | ||
| Winner | check_circle |
| Feature | Charles Schwab | Ally Invest |
|
ETFs - Strategy Overview |
Yes | Yes |
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ETFs - Top 10 Holdings |
Yes | No |
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ETFs - Sector Exposure |
Yes | No |
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ETFs - Risk Analysis |
Yes | Yes |
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ETFs - Performance Analysis |
Yes | Yes |
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ETFs - Ratings |
Yes | Yes |
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ETFs - Morningstar StyleMap |
Yes | No |
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ETFs - Reports |
Yes | Yes |
| Research | ||
| Winner | check_circle |
| Feature | Charles Schwab | Ally Invest |
|
Mutual Funds - Strategy Overview |
Yes | Yes |
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Mutual Funds - Prospectus |
Yes | No |
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Mutual Funds - Reports |
Yes | No |
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Mutual Funds - Fees Breakdown |
Yes | Yes |
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Mutual Funds - Top 10 Holdings |
Yes | No |
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Mutual Funds - Asset Allocation |
Yes | No |
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Mutual Funds - Sector Allocation |
Yes | Yes |
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Mutual Funds - Country Allocation |
Yes | No |
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Mutual Funds - StyleMap |
Yes | No |
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Mutual Funds - 3rd Party Ratings |
Yes | Yes |
| Research | ||
| Winner | check_circle |
| Feature | Charles Schwab | Ally Invest |
|
Option Chains - Streaming |
Yes | Yes |
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Option Chains - Total Columns |
41 | 8 |
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Option Chains - Greeks |
5 | 1 |
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Option Chains - Quick Analysis |
Yes | Yes |
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Option Analysis - P&L Charts |
Yes | Yes |
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Option Probability Analysis |
Yes | Yes |
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Option Probability Analysis Adv |
Yes | Yes |
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Option Positions - Greeks |
Yes | Yes |
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Option Positions - Adv Analysis |
Yes | Yes |
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Option Positions - Rolling |
Yes | No |
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Option Positions - Grouping |
Yes | Yes |
| Platforms & Tools | ||
| Winner | check_circle |
| Feature | Charles Schwab | Ally Invest |
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Has Education - Stocks |
Yes | Yes |
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Has Education - ETFs |
Yes | No |
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Has Education - Options |
Yes | Yes |
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Has Education - Mutual Funds |
Yes | Yes |
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Has Education - Fixed Income |
Yes | Yes |
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Has Education - Retirement |
Yes | Yes |
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Paper Trading |
No | No |
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Videos |
Yes | No |
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Webinars (Monthly Avg) |
50 | 17 |
|
Webinars (Archived) |
Yes | No |
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Live Seminars |
Yes | Yes |
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Progress Tracking |
No | No |
|
Interactive Learning - Quizzes |
No | No |
|
Investor Magazine |
Yes | No |
| Education | ||
| Winner | check_circle |
| Feature | Charles Schwab | Ally Invest |
|
Retail Locations |
357 | 0 |
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Member FDIC |
Yes | Yes |
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Checking Accounts |
Yes | Yes |
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Savings Accounts |
Yes | Yes |
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Credit Cards |
Yes | Yes |
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Debit Cards |
Yes | Yes |
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Mortgage Loans |
Yes | Yes |
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No Fee Banking |
Yes | Yes |
| Banking | ||
| Winner | check_circle |
| Feature | Charles Schwab | Ally Invest |
| Charles Schwab Review | Ally Invest Review | |
| Overall | ||
| Winner | check_circle |
Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Ally Invest vs Charles Schwab to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. Ally Invest and Charles Schwab both cost $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Each option contract then costs $0.65 at Charles Schwab and $0.50 at Ally Invest. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.
Next, investors want to make sure they can trade the investment vehicle they want. Charles Schwab supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Ally Invest supports Stock Trading, Options Trading, Mutual Funds and Forex Trading. As far as mutual funds go, Charles Schwab trails Ally Invest by 8,154 total mutual funds, with Ally Invest offering 14000 and Charles Schwab offering 5846.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Ally Invest nor Charles Schwab offers virtual trading. For mobile trading, Ally Invest along with Charles Schwab both support the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Both Ally Invest and Charles Schwab offer Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Overall, between Ally Invest and Charles Schwab, Charles Schwab is the winner.
All pricing data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.
