Charles Schwab vs Ally Invest 2025
In this head to head comparison of Charles Schwab vs Ally Invest, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
In this head to head comparison of Charles Schwab vs Ally Invest, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
When comparing Charles Schwab and Ally Invest, it's clear that both online brokers offer a comprehensive suite of investment options, though Charles Schwab edges out slightly ahead in terms of the overall range. Schwab is rated 5 stars for its Range of Investments and ranks second among 14 brokers according to StockBrokers.com, while Ally Invest holds a rating of 4.5 stars and ranks eighth in the same category. Both platforms are solid choices for traders, but Schwab's broader selection and higher industry ranking make it a standout contender.
Charles Schwab and Ally Invest both offer stock, margin, and options trading to cater to a diverse range of investment strategies. Additionally, they provide access to mutual funds and OTC stocks, giving investors broad opportunities to diversify their portfolios. However, a notable difference is found in fractional shares trading, which is available at Charles Schwab but not offered by Ally Invest. This feature can be particularly beneficial for investors who wish to purchase partial shares, especially for higher-priced stocks.
While neither platform provides cryptocurrency trading, Charles Schwab offers forex and futures trading options to its clients, expanding possibilities for investors looking into those markets. Ally Invest, in contrast, does not provide forex or futures trading. Both brokers maintain traditional and Roth IRA accounts and offer advisor services, ensuring clients have access to financial guidance and retirement planning options. Overall, the decision between Charles Schwab and Ally Invest may come down to whether specialized trading options like forex or futures are essential to your investment strategy.
Feature |
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Stock Trading | Yes | Yes |
Account Feature - Margin Trading | Yes | Yes |
Fractional Shares (Stocks) | Yes | No |
OTC Stocks | Yes | Yes |
Mutual Funds | Yes | Yes |
Options Trading | Yes | Yes |
Futures Trading | Yes | No |
Crypto Trading | No | No |
Crypto Trading - Total Coins | 0 | 0 |
Range of Investments |
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Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025: A Beginner-Friendly Guide to an Advanced Market
When considering the overall excellence of trading platforms and tools, Charles Schwab clearly stands out as a top choice, earning a perfect 5-star rating from industry reviewers. It boasts the highest ranking according to StockBrokers.com, coming in at #1 out of 14 brokers. On the other hand, Ally Invest manages a respectable but lesser rating of 3 stars, placing it at #10 in the same review. This summary of comparative value guides users towards Charles Schwab for a more versatile and feature-rich trading experience.
Charles Schwab offers more advanced platforms, including both Windows and Mac desktop software, enhancing functionality for serious traders. An important differentiator is Schwab's browser-based platform, which includes paper trading capabilities—helpful for practicing without financial risk—along with a trading journal. In contrast, Ally Invest only provides a browser-based platform without paper trading and a trading journal, making it less suitable for experimental trading or strategy development. Other features such as adjusting open orders directly on stock charts are supported by Schwab but missing in Ally's offering.
For charting and technical analysis, Charles Schwab provides traders with 374 technical indicators and 24 drawing tools. It allows for comprehensive customization and note-taking, along with the display of historical trades and corporate events on charts, and the ability to create custom studies and set custom date ranges—all of which enrich analysis depth. Ally Invest, offering 120 indicators and 36 drawing tools, allows for basic technical analysis but falls short in advanced features such as displaying historical trades or corporate events on charts. Both brokers enable saving multiple chart profiles and can show automated technical analysis, but overall, Charles Schwab's extensive suite of tools and customization offers a superior trading environment.
Feature |
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Web Trading Platform | Yes | Yes |
Desktop Trading Platform | Yes | No |
Desktop Platform (Mac) | Yes | No |
Paper Trading | Yes | No |
Watch Lists - Total Fields | 580 | 10 |
Charting - Indicators / Studies | 374 | 120 |
Charting - Drawing Tools | 24 | 36 |
Platforms & Tools |
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Dive deeper: Best Online Brokers & Trading Platforms for 2025, Best Paper Trading Apps & Platforms for 2025
When examining beginner and investor education, both Charles Schwab and Ally Invest offer a wide array of resources to help budding investors. Each platform provides learning materials in major investment areas such as stocks, ETFs, options, mutual funds, and bonds. However, Charles Schwab stands out by offering paper trading, enabling users to practice trading risk-free. Schwab also features a variety of educational content, including videos, webinars, and quizzes, which cater to diverse learning preferences. One of Schwab's unique offerings is the ability to track your learning progress, helping you assess and build your skills over time.
Although Ally Invest provides comprehensive investment education, it lacks some of the interactive features that Schwab offers. Ally Invest does not currently provide paper trading, webinars, videos, or quizzes, limiting the ways in which a beginner can engage with their content. However, Ally Invest still stands strong with a 4-star rating for education and ranks #7 out of 14 brokers according to StockBrokers.com. In comparison, Charles Schwab takes the lead with a 5-star rating and is ranked #1, making it a top choice for those keen to enhance their financial literacy and gain hands-on experience with their investments.
Feature |
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Education (Stocks) | Yes | Yes |
Education (ETFs) | Yes | Yes |
Education (Options) | Yes | Yes |
Education (Mutual Funds) | Yes | Yes |
Education (Fixed Income) | Yes | Yes |
Paper Trading | Yes | No |
Videos | Yes | No |
Webinars | Yes | No |
Education |
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Dive deeper: Best Stock Trading Platforms for Beginners of 2025
When it comes to stock trading apps, Charles Schwab clearly outshines Ally Invest, making it an excellent choice for both seasoned and beginner investors. With a perfect 5-star rating and earning the top spot among 14 brokers ranked by StockBrokers.com, Schwab's app offers a well-rounded suite of features that cater to all trader needs. In contrast, Ally Invest, ranked at #13 with a 4-star rating, provides a more basic experience, suitable for those seeking simplicity in their trading activities.
Charles Schwab enhances user experience with comprehensive compatibility across devices, offering apps for iPhone, Android, and even the Apple Watch. In contrast, Ally Invest lacks an Apple Watch app. Schwab also supports crucial functionalities like after-hours trading and streaming live TV, which Ally Invest does not provide. Both platforms allow mobile options trading and streaming quotes, but Schwab takes it a step further with the ability to create custom watch lists with customizable columns, which Ally Invest lacks.
Charting capabilities are another area where Charles Schwab excels. Schwab's app supports multiple chart time frames and after-hours charting, with a vast library of 373 technical studies for extensive analysis. Ally Invest falls significantly behind, offering no technical studies at all. Schwab users also benefit from additional features like stock alerts, videos on demand, and the ability to view charts in landscape mode and with multiple stock comparisons, enhancing their analytical edge. Altogether, these tools underscore Charles Schwab's superior app performance compared to Ally Invest's more basic offering.
Feature |
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iPhone App | Yes | Yes |
Android App | Yes | Yes |
Apple Watch App | Yes | No |
Stock Alerts | Yes | No |
Charting - After-Hours | Yes | No |
Charting - Technical Studies | 373 | 0 |
Mobile Trading Apps |
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Dive deeper: Best Stock Trading Apps for 2025
When choosing between Charles Schwab and Ally Invest, it's essential to weigh various factors, including fees and other charges. Both platforms offer no minimum deposit requirement and charge nothing for regular stock trades. However, distinctions emerge in other areas. For options trades, Charles Schwab charges $0.65 per contract, whereas Ally Invest is slightly less expensive at $0.50 per contract. Moreover, margin interest rates at Ally Invest are generally lower across the board, particularly for balances between $50,000 and $99,999, where Ally Invest charges 11% compared to Charles Schwab’s 11.13%.
Both brokers offer attractive incentives for retirement accounts, with no annual fees for IRAs. However, you'll find a difference in IRA closure fees; Charles Schwab does not charge for closing an IRA, while Ally Invest applies a $25 fee. When it comes to account transfers, both brokers charge a $50 fee for full transfers. When considering partial account transfers, Charles Schwab has the advantage with no fee, whereas Ally Invest charges $50.
For investors concerned with options trading costs beyond the basic contract fees, both Charles Schwab and Ally Invest offer $0 fees for options exercise and assignment, making either a fair choice for options traders. Both platforms weigh equally for accessibility and share similar pricing for certain broker services. However, depending on your trading preferences, such as frequent options trading or margin borrowing, Ally Invest might offer modest savings. Charles Schwab, meanwhile, may appeal to those seeking a fee-free experience for account transitions and IRA management.
Feature |
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Minimum Deposit | $0.00 | $0.00 |
Stock Trades | $0.00 | $0.00 |
Options (Per Contract) | $0.65 | $0.50 |
Options Exercise Fee | $0.00 | $0.00 |
Options Assignment Fee | $0.00 | $0.00 |
IRA Annual Fee | $0.00 | $0.00 |
IRA Closure Fee | $0.00 | $25.00 |
Dive deeper: Best Free Trading Platforms for 2025
When diving into the world of day trading, choosing the right online broker is crucial, and Charles Schwab and Ally Invest both present distinct offerings. Charles Schwab emerges as a comprehensive platform, featuring advanced tools such as streaming time and sales data for stocks, as well as streaming live TV. This enhances the trader's ability to make informed decisions by providing real-time information. In addition, Charles Schwab allows for direct market routing, ladder trading, and trading using hotkeys, all pivotal for executing trades efficiently. Its provision of level 2 quotes also aids in better understanding market depth, whereas its strategy backtesting capabilities, both basic and advanced, assist traders in refining their trading strategies. Moreover, Charles Schwab offers a short locator tool, essential for those involved in short selling, highlighting its commitment to equipping traders with a diverse range of features.
On the other hand, Ally Invest holds a more streamlined approach, as it doesn't offer features like streaming time and sales, live TV, or direct market routing, positioning it as a simpler option for those who might not need the complex tools available at Charles Schwab. While both brokers do not offer order liquidity rebates, the absence of advanced trading tools in Ally Invest could be considered a drawback for active day traders seeking comprehensive features. Therefore, traders who prioritize an extensive suite of tools may find Charles Schwab more aligned with their trading needs, while Ally Invest could suit those preferring a more straightforward trading experience. Thus, selecting between the two largely depends on the trader's individual requirements and experience level.
Feature |
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Streaming Time & Sales | Yes | No |
Streaming TV | Yes | No |
Direct Market Routing - Equities | Yes | No |
Level 2 Quotes - Stocks | Yes | No |
Trade Ideas - Backtesting | Yes | No |
Trade Ideas - Backtesting Adv | Yes | No |
Short Locator | Yes | No |
Dive deeper: Best Day Trading Platforms of 2025 for Beginners and Active Traders
When considering online brokers for market research capabilities, Charles Schwab emerges as a more comprehensive choice compared to Ally Invest. Schwab receives higher ratings and overall rankings, providing an outstanding range of research options and resources for investors. Ally Invest, while competent, falls behind Schwab in several important aspects, positioning itself as a satisfactory but not top-tier choice for those prioritizing extensive market insights.
Charles Schwab excels in providing extensive market research features, offering resources across stocks, ETFs, mutual funds, Pink Sheets/OTCBB, and bonds. This broker stands out with the ability to deliver downloadable PDF reports for both stocks and ETFs, containing seven different report types for stocks specifically. Charles Schwab also integrates advanced tools such as portfolio allocation views by asset class, stock research using social media sentiment data, ESG research, and an array of screeners for trade ideas across multiple asset types, making it a highly research-friendly platform.
On the other hand, Ally Invest also offers stock, ETF, mutual fund, and bond research, but lacks certain premium features found with Schwab. It falls short in areas like downloadable reports, ESG research, and portfolio allocation insights. However, Ally Invest does provide stock and ETF screeners and utilizes social media sentiment data for stock research. While Ally Invest offers a respectable suite of tools for market research, it receives a lower star rating and ranking compared to Charles Schwab, highlighting certain limitations that investors should consider.
Feature |
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Research - Stocks | Yes | Yes |
Screener - Stocks | Yes | Yes |
Research - ETFs | Yes | Yes |
Screener - ETFs | Yes | Yes |
Research - Mutual Funds | Yes | Yes |
Screener - Mutual Funds | Yes | No |
Research - Fixed Income | Yes | Yes |
Screener - Fixed Income | Yes | Yes |
Research |
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When it comes to banking capabilities, both Charles Schwab and Ally Invest offer a comprehensive range of services catering to various needs. Customers of Charles Schwab and Ally Invest can enjoy checking and savings accounts, complete with debit cards for everyday transactions. Both platforms extend their services by providing credit cards and mortgage loans, making financial flexibility a priority. Additionally, those looking to grow their savings can take advantage of Certificates of Deposit (CDs) from both brokers. Overall, Charles Schwab and Ally Invest offer similar expansive banking features, catering well to diverse financial needs.
Feature |
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Checking Accounts | Yes | Yes |
Savings Accounts | Yes | Yes |
Debit Cards | Yes | Yes |
Credit Cards | Yes | Yes |
Mortgage Loans | Yes | Yes |
Brokerage CDs | Yes | Yes |
Dive deeper: Best Brokerage Checking Accounts for 2025
After opening live accounts and testing 14 of the best online brokers, our research and live account testing finds that Charles Schwab is better than Ally Invest. Charles Schwab finished with an overall score of 99.2%, while Ally Invest finished with a score of 80.1%.
With the addition of TD Ameritrade's thinkorswim platforms and the enhancement of several features, Schwab is now a vigorous competitor with thought-provoking research and commentary and a client experience to fit any preference.
Both Charles Schwab and Ally Invest currently do not offer cryptocurrency trading, meaning neither platform provides access to any coins for crypto trading enthusiasts.
Dive deeper: Best Online Brokers for Crypto Trading in 2025
When comparing Charles Schwab and Ally Invest for IRA offerings, both firms provide Traditional and Roth IRA accounts with no annual fees; however, Charles Schwab stands out by charging no closure fee for their IRA accounts, whereas Ally Invest imposes a $25 closure fee.
Dive deeper: Best IRA Accounts for 2025
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0 of 5Overall Rating | Charles Schwab | Ally Invest | |
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Overall |
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Platforms & Tools |
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Mobile Trading Apps |
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Research |
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Customer Service |
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Education |
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Ease of Use |
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Winner | check_circle | ||
Review | Charles Schwab Review | Ally Invest Review |
Broker Screenshots | Charles Schwab | Ally Invest | |
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Broker Gallery (click to expand) |
Trading Fees | Charles Schwab | Ally Invest | |
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Minimum Deposit | $0.00 | $0.00 | |
Stock Trades | $0.00 | $0.00 | |
Penny Stock Fees (OTC) | $6.95 | $4.95 | |
Mutual Fund Trade Fee | Varies | $0.00 | |
Options (Per Contract) | $0.65 | $0.50 | |
Futures (Per Contract) | $2.25 | (Not offered) | |
Broker Assisted Trade Fee | $25 | $20 |
Margin Rates | Charles Schwab | Ally Invest | |
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Margin Rate Under $25,000 | 12.58% | 12% | |
Margin Rate $25,000 to $49,999.99 | 12.08% | 11.75% | |
Margin Rate $50,000 to $99,999.99 | 11.13% | 11% | |
Margin Rate $100,000 to $249,999.99 | 11.08% | 9.75% | |
Margin Rate $250,000 to $499,999.99 | 10.83% | 8.75% | |
Margin Rate $500,000 to $999,999.99 | Varies | 8.25% | |
Margin Rate Above $1,000,000 | Varies | 7.5% |
Account Fees | Charles Schwab | Ally Invest | |
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IRA Annual Fee | $0.00 | $0.00 | |
IRA Closure Fee | $0.00 | $25.00 | |
Account Transfer Out (Partial) | $0.00 | $50.00 | |
Account Transfer Out (Full) | $50.00 | $50.00 | |
Options Exercise Fee | $0.00 | $0.00 | |
Options Assignment Fee | $0.00 | $0.00 |
Investment Options | Charles Schwab | Ally Invest | |
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Stock Trading | Yes | Yes | |
Account Feature - Margin Trading | Yes | Yes | |
Fractional Shares (Stocks) | Yes | No | |
OTC Stocks | Yes | Yes | |
Options Trading | Yes | Yes | |
Complex Options Max Legs | 4 | 4 | |
Futures Trading | Yes | No | |
Forex Trading | Yes | No | |
Crypto Trading | No | No | |
Crypto Trading - Total Coins | 0 | 0 | |
Fixed Income (Treasurys) | Yes | Yes | |
Fixed Income (Corporate Bonds) | Yes | Yes | |
Fixed Income (Municipal Bonds) | Yes | Yes | |
Traditional IRAs | Yes | Yes | |
Roth IRAs | Yes | Yes | |
Advisor Services | Yes | Yes | |
International Countries (Stocks) | 12 | 0 |
Order Types | Charles Schwab | Ally Invest | |
---|---|---|---|
Order Type - Market | Yes | Yes | |
Order Type - Limit | Yes | Yes | |
Order Type - After Hours | Yes | Yes | |
Order Type - Stop | Yes | Yes | |
Order Type - Trailing Stop | Yes | No | |
Order Type - OCO | Yes | No | |
Order Type - OTO | Yes | No | |
Order Type - Broker Assisted | Yes | Yes |
Beginners | Charles Schwab | Ally Invest | |
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Education (Stocks) | Yes | Yes | |
Education (ETFs) | Yes | Yes | |
Education (Options) | Yes | Yes | |
Education (Mutual Funds) | Yes | Yes | |
Education (Fixed Income) | Yes | Yes | |
Education (Retirement) | Yes | Yes | |
Retirement Calculator | Yes | No | |
Investor Dictionary | Yes | Yes | |
Paper Trading | Yes | No | |
Videos | Yes | No | |
Webinars | Yes | No | |
Progress Tracking | Yes | No | |
Interactive Learning - Quizzes | Yes | No |
Stock Trading Apps | 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 | Yes | |
Trading - Simple Options | Yes | Yes | |
Trading - Complex Options | Yes | Yes | |
Order Ticket RT Quotes | Yes | Yes | |
Order Ticket SRT Quotes | Yes | No |
Stock App Features | Charles Schwab | Ally Invest | |
---|---|---|---|
Market Movers (Top Gainers) | Yes | Yes | |
Stream Live TV | Yes | No | |
Videos on Demand | Yes | No | |
Stock Alerts | Yes | No | |
Option Chains Viewable | Yes | Yes | |
Watch List (Real-time) | Yes | Yes | |
Watch List (Streaming) | Yes | No | |
Watch Lists - Create & Manage | Yes | Yes | |
Watch Lists - Column Customization | Yes | No |
Stock App Charting | Charles Schwab | Ally Invest | |
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Charting - After-Hours | Yes | No | |
Charting - Can Turn Horizontally | Yes | No | |
Charting - Multiple Time Frames | Yes | Yes | |
Charting - Technical Studies | 373 | 0 | |
Charting - Study Customizations | Yes | No | |
Charting - Stock Comparisons | Yes | No |
Trading Platforms | Charles Schwab | Ally Invest | |
---|---|---|---|
Active Trading Platform | thinkorswim | N/A | |
Desktop Trading Platform | Yes | No | |
Desktop Platform (Mac) | Yes | No | |
Web Trading Platform | Yes | Yes | |
Paper Trading | Yes | No | |
Trade Journal | Yes | No | |
Watch Lists - Total Fields | 580 | 10 |
Stock Chart Features | Charles Schwab | Ally Invest | |
---|---|---|---|
Charting - Adjust Trades on Chart | Yes | No | |
Charting - Indicators / Studies | 374 | 120 | |
Charting - Drawing Tools | 24 | 36 | |
Charting - Notes | Yes | Yes | |
Charting - Historical Trades | Yes | No | |
Charting - Corporate Events | Yes | No | |
Charting - Custom Date Range | Yes | No | |
Charting - Custom Time Bars | Yes | No | |
Charting - Automated Analysis | Yes | Yes | |
Charting - Save Profiles | Yes | Yes | |
Trade Ideas - Technical Analysis | Yes | No | |
Charting - Study Customizations | 35 | 8 | |
Charting - Custom Studies | Yes | No |
Day Trading | Charles Schwab | Ally Invest | |
---|---|---|---|
Streaming Time & Sales | Yes | No | |
Streaming TV | Yes | No | |
Direct Market Routing - Equities | Yes | No | |
Ladder Trading | Yes | No | |
Trade Hot Keys | Yes | No | |
Level 2 Quotes - Stocks | Yes | No | |
Trade Ideas - Backtesting | Yes | No | |
Trade Ideas - Backtesting Adv | Yes | No | |
Short Locator | Yes | No | |
Order Liquidity Rebates | No | No |
Research Overview | Charles Schwab | Ally Invest | |
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Research - Stocks | Yes | Yes | |
Research - ETFs | Yes | Yes | |
Research - Mutual Funds | Yes | Yes | |
Research - Pink Sheets / OTCBB | Yes | Yes | |
Research - Fixed Income | Yes | Yes | |
Screener - Stocks | Yes | Yes | |
Screener - ETFs | Yes | Yes | |
Screener - Mutual Funds | Yes | No | |
Screener - Fixed Income | Yes | Yes | |
Portfolio Asset Allocation | Yes | No |
Stock Research | Charles Schwab | Ally Invest | |
---|---|---|---|
Stock Research - PDF Reports | 7 | 0 | |
Stock Research - Earnings | Yes | No | |
Stock Research - Insiders | Yes | Yes | |
Stock Research - Social | Yes | Yes | |
Stock Research - News | Yes | Yes | |
Stock Research - ESG | Yes | No | |
Stock Research - SEC Filings | Yes | No |
ETF Research | Charles Schwab | Ally Invest | |
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ETFs - Investment Objective | Yes | No | |
ETF Fund Facts - Inception Date | Yes | No | |
ETF Fund Facts - Expense Ratio | Yes | Yes | |
ETF Fund Facts - Total Assets | Yes | Yes | |
ETF Fund Facts - Total Holdings | Yes | No | |
ETFs - Top 10 Holdings | Yes | Yes | |
ETFs - Sector Exposure | Yes | No | |
ETFs - Risk Analysis | Yes | No | |
ETFs - Ratings | Yes | Yes | |
ETFs - Morningstar StyleMap | Yes | No | |
ETFs - PDF Reports | Yes | No |
Mutual Fund Research | Charles Schwab | Ally Invest | |
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Mutual Funds - Investment Objective | Yes | Yes | |
Mutual Funds - Performance Chart | Yes | Yes | |
Mutual Funds - Performance Analysis | Yes | No | |
Mutual Funds - Prospectus | Yes | No | |
Mutual Funds - 3rd Party Ratings | Yes | Yes | |
Mutual Funds - Fees Breakdown | Yes | No | |
Mutual Funds - Top 10 Holdings | Yes | Yes | |
Mutual Funds - Asset Allocation | Yes | No | |
Mutual Funds - Sector Allocation | Yes | Yes | |
Mutual Funds - Country Allocation | Yes | No | |
Mutual Funds - StyleMap | Yes | No |
Options Trading | Charles Schwab | Ally Invest | |
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Option Chains - Total Greeks | 5 | 5 | |
Option Analysis - P&L Charts | Yes | No |
Banking | Charles Schwab | Ally Invest | |
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Bank (Member FDIC) | Yes | Yes | |
Checking Accounts | Yes | Yes | |
Savings Accounts | Yes | Yes | |
Credit Cards | Yes | Yes | |
Debit Cards | Yes | Yes | |
Mortgage Loans | Yes | Yes |
Customer Service | Charles Schwab | Ally Invest | |
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Phone Support (Prospective Customers) | Yes | Yes | |
Phone Support (Current Customers) | Yes | Yes | |
Email Support | Yes | Yes | |
Live Chat (Prospective Customers) | No | No | |
Live Chat (Current Customers) | Yes | Yes | |
24/7 Support | Yes | Yes |
Overall | Charles Schwab | Ally Invest | |
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Overall |
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Range of Investments |
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Platforms & Tools |
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Mobile Trading Apps |
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Research |
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Education |
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Ease of Use |
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Winner | check_circle | ||
Review | Charles Schwab Review | Ally Invest Review |