The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers. This review compares Ally Invest vs Charles Schwab. Is Ally Invest or Charles Schwab a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Ally Invest and Charles Schwab charge the same amount for regular stock trades, $0. Looking at options, the base fees charged are the same for both brokers, $0. Option contracts are pricier at Charles Schwab, costing $0.65 versus $0.50 at Ally Invest. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews.
For our next comparison of these two brokers, being able to trade the way you want is a must. 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. When it comes to mutual funds, Charles Schwab trails Ally Invest by 8,154 total mutual funds, with Ally Invest offering 14000 and Charles Schwab offering 5846.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Neither Ally Invest and Charles Schwab offer virtual trading. For mobile trading, Ally Invest along with Charles Schwab both support the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to customers of Ally Invest and Charles Schwab.
Overall, between Ally Invest and Charles Schwab, Charles Schwab is the winner.
Ally Invest Review
Charles Schwab Review