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Charles Schwab vs Ally Invest 2020

Is Ally Invest better than Charles Schwab? After testing 15 of the best online brokers over five months, Charles Schwab (93.11%) is better than Ally Invest (79.49%). Founded in 1973, Charles Schwab is a full-service brokerage with over $3 trillion in total client assets. As a low-cost leader offering $0 stock trades, Charles Schwab provides investors excellent stock research, quality trade tools, and professional planning for the future.

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

Feature Charles Schwab Ally Invest
Overall 4.5 4
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 4.5
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Margin Rates

Feature Charles Schwab Ally Invest
Under $24,999.99 8.33% 7.75%
$25,000.00 to $49,999.99 7.83% 7.50%
$50,000.00 to $99,999.99 6.88% 6.75%
$100,000.00 to $249,999.99 6.83% 5.50%
$250,000.00 to $499,999.99 6.58% 4.50%
$500,000.00 to $999,999.99 N/A 4.00%
Above $1,000,000.00 N/A 3.25%
Commissions & Fees 4.5 4.5
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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 4.5

Investment Options

Feature Charles Schwab Ally Invest
Stock Trading
Yes Yes
Fractional Shares
Yes No
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)
7291 11234
Mutual Funds (Total)
9978 18728
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Interest Sharing
No No
Advisor Services
Yes Yes
International Trading
Yes No
Offering of Investments 4.5 4
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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
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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
125 21
Heat Mapping
Yes No
AI Assistant Bot
No No
Platforms & Tools 4.5 3
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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
7 5
Charting - Custom Studies
No No
Platforms & Tools 4.5 3
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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 Yes
Short Locator
No No
Order Liquidity Rebates
No No
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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
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Mobile App Features

Feature Charles Schwab Ally Invest
Watch List Syncing
Yes Yes
Stock Alerts
No No
Charting - After Hours
No No
Charting - Drawing
No No
Charting - Study Customizations
Yes No
Heatmapping
Yes No
Stream Live TV
Yes No
Barcode Lookup
No No
Mobile Trading 4 3.5
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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 Yes
Misc - Portfolio Builder
Yes Yes
Misc - Portfolio Allocation
Yes No
Research 5 3.5
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Stock Research

Feature Charles Schwab Ally Invest
Stock Research - Reports
8 2
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
Yes Yes
Stock Research - Metric Comp
Yes No
Stock Research - SEC Filings
Yes Yes
Stock Research - Social
Yes No
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
Yes Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 5 3.5
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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 3.5
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Mutual Fund Research

Feature Charles Schwab Ally Invest
Mutual Funds - Strategy Overview
Yes Yes
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
Yes Yes
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 3.5
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Options Trading

Feature Charles Schwab Ally Invest
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
44 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 No
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 3
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Beginners

Feature Charles Schwab Ally Invest
Education (Stocks)
Yes Yes
Education (ETFs)
Yes No
Education (Options)
Yes Yes
Education (Mutual Funds)
Yes Yes
Education (Fixed Income)
Yes Yes
Education (Retirement)
Yes Yes
Paper Trading
No No
Videos
Yes No
Webinars (Monthly Avg)
50 15
Webinars (Archived)
Yes No
Live Seminars
Yes No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
Yes No
Education 4.5 3.5
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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
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Overall

Feature Charles Schwab Ally Invest
Charles Schwab Review Ally Invest Review
Overall 4.5 4
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Comparing brokers side by side is no easy task. For our 2020 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Ally Invest vs Charles Schwab.

Is Ally Invest or Charles Schwab better for beginners?
Charles Schwab is better for beginner investors than Ally Invest. Charles Schwab offers investors access to Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Fixed Income) and Education (Retirement).

What about Ally Invest vs Charles Schwab pricing?
Ally Invest and Charles Schwab both cost $0 per trade. With options, the base fee is $0 for both Ally Invest and Charles Schwab. Option contracts are pricier at Charles Schwab, costing $0.65 versus $0.50 at Ally Invest. For a complete commissions summary, see our best discount brokers guide.

Does Ally Invest or Charles Schwab offer a wider range of investment options?
Charles Schwab offers a more diverse selection of investment options than Ally Invest. Charles Schwab offers investors access to Stock Trading, Fractional Shares, OTCBB / Pink Sheets, Options Trading, Mutual Funds, Futures Trading, Advisor Services and International Trading. Looking at Mutual Funds, Charles Schwab trails Ally Invest by 8,750 total mutual funds, with Ally Invest offering 18728 and Charles Schwab offering 9978.

Which trading platform is better: Ally Invest or Charles Schwab?
To compare the trading platforms of both Ally Invest and Charles Schwab, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Charles Schwab offers a better experience. With research, Charles Schwab offers superior market research. Finally, we found Charles Schwab to provide better mobile trading apps.

Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. 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 better online broker.

Ally Invest Review
Charles Schwab Review

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All pricing data was obtained from a published web site as of 01/20/2020 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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