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Charles Schwab vs Ally Invest 2019

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%).

Special Offer $0 online stock, ETF, and options commissions at Schwab. Open Account
Open Account

Overall Rating

Feature Charles Schwab Ally Invest
Overall 4 3
Charles Schwab Review Ally Invest Review

Trading Fees

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 4.5 3.5
Winner check_circle

Margin Rates

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 4.5 3.5
Winner check_circle

Account Fees

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 4.5 3.5

Investment Options

Feature Charles Schwab Ally Invest
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
Yes No
Forex Trading
No Yes
Commission-Free ETFs all all
Mutual Funds (No Load)
5846 7200
Mutual Funds (Total)
5846 14000
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Advisor Services
Yes Yes
International Trading
Yes No
Offering of Investments 4.5 4
Winner check_circle

Order Types

Feature Charles Schwab Ally Invest
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes Yes
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes Yes
Order Type - OTO
Yes Yes
Order Type - OTOCO
Yes No
Offering of Investments 4.5 4
Winner check_circle

Trading Platforms

Feature Charles Schwab Ally Invest
Desktop Platform (Windows)
Yes No
Desktop Platform (Mac)
Yes No
Web Platform
Yes Yes
Paper Trading
No No
Trade Journal
Yes No
Watch Lists - Total Fields
108 21
Two-Factor Authentication Login
Yes Yes
Heat Mapping
Yes No
Platforms & Tools 4.5 2.5
Winner check_circle

Charting Features

Feature Charles Schwab Ally Invest
Charting - Trade Off Chart
Yes No
Charting - Indicators / Studies
41 117
Charting - Drawing Tools
15 36
Charting - Historical Trades
No No
Charting - Corporate Events
Yes Yes
Charting - Automated Analysis
Yes Yes
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
6 5
Charting - Custom Studies
No No
Platforms & Tools 4.5 2.5
Winner check_circle

Day Trading

Feature Charles Schwab Ally Invest
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
Yes No
Streaming Time & Sales
Yes No
Streaming TV
Yes No
Direct Market Routing - Stocks
Yes No
Direct Market Routing - Options
No No
Ladder Trading
No No
Trade Hot Keys
Yes No
Level 2 Quotes - Stocks
Yes No
Level 2 Quotes - Options
Yes No
Trade Ideas - Backtesting
Yes No
Short Locator
No No
Client Liquidity Rebates
No No
Winner check_circle

Mobile Trading Apps

Feature Charles Schwab Ally Invest
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes No
Trading - Conditional Orders
No No
Trading - Mutual Funds
Yes No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
Winner check_circle

Mobile App Features

Feature Charles Schwab Ally Invest
Watch List Syncing
Yes Yes
Stock Alerts - Basic Fields
No No
Charting - After Hours
No No
Charting - Drawing
No No
Charting - Study Customizations
Yes No
Customizable Homescreen
No No
Heatmapping
Yes No
Stream Live TV
Yes No
Barcode Lookup
No No
Mobile Trading 4 3
Winner check_circle

Research Overview

Feature Charles Schwab Ally Invest
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes Yes
Research - Pink Sheets / OTCBB
Yes Yes
Research - Fixed Income
Yes No
Screener - Stocks
Yes No
Screener - ETFs
Yes No
Screener - Mutual Funds
Yes No
Screener - Options
Yes No
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes Yes
Misc - Portfolio Allocation
Yes No
Research 5 2
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Stock Research

Feature Charles Schwab Ally Invest
Stock Research - Reports
8 2
Stock Research - Earnings
Yes No
Stock Research - Insiders
Yes No
Stock Research - Metric Comp
Yes No
Stock Research - SEC Filings
Yes No
Stock Research - Social
Yes No
Stock Research - Balance Sheet
Yes No
Stock Research - Cash Flows
Yes No
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 5 2
Winner check_circle

ETF Research

Feature Charles Schwab Ally Invest
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes Yes
ETFs - Performance Analysis
Yes Yes
ETFs - Ratings
Yes Yes
ETFs - Morningstar StyleMap
Yes No
ETFs - Reports
Yes Yes
Research 5 2
Winner check_circle

Mutual Fund Research

Feature Charles Schwab Ally Invest
Mutual Funds - Strategy Overview
Yes Yes
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes Yes
Mutual Funds - Top 10 Holdings
Yes No
Mutual Funds - Asset Allocation
Yes No
Mutual Funds - Sector Allocation
Yes Yes
Mutual Funds - Country Allocation
Yes No
Mutual Funds - StyleMap
Yes No
Mutual Funds - 3rd Party Ratings
Yes Yes
Research 5 2
Winner check_circle

Options Trading

Feature Charles Schwab Ally Invest
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
41 8
Option Chains - Greeks
5 1
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes Yes
Option Probability Analysis Adv
Yes Yes
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes Yes
Option Positions - Rolling
Yes No
Option Positions - Grouping
Yes Yes
Platforms & Tools 4.5 2.5
Winner check_circle

Beginners

Feature Charles Schwab Ally Invest
Has Education - Stocks
Yes Yes
Has Education - ETFs
Yes No
Has Education - Options
Yes Yes
Has Education - Mutual Funds
Yes Yes
Has Education - Fixed Income
Yes Yes
Has Education - Retirement
Yes Yes
Paper Trading
No No
Videos
Yes No
Webinars (Monthly Avg)
50 17
Webinars (Archived)
Yes No
Live Seminars
Yes Yes
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
Yes No
Education 4.5 3.5
Winner check_circle

Banking

Feature Charles Schwab Ally Invest
Retail Locations
357 0
Member FDIC
Yes Yes
Checking Accounts
Yes Yes
Savings Accounts
Yes Yes
Credit Cards
Yes Yes
Debit Cards
Yes Yes
Mortgage Loans
Yes Yes
No Fee Banking
Yes Yes
Banking 4.5 4
Winner check_circle

Overall

Feature Charles Schwab Ally Invest
Charles Schwab Review Ally Invest Review
Overall 4 3
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.

Ally Invest Review
Charles Schwab Review



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.

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