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Ally Invest vs ChoiceTrade 2020

Is Ally Invest better than ChoiceTrade? Based on over 4,000 data points from our 2019 annual broker review, Ally Invest (62.44%) is better than ChoiceTrade (45.72%).

Ally Invest

Best for Ally customers
Backed by Ally Financial, Ally Invest is a low-cost broker providing $0 stock and ETF trades. Ally’s complete universal-account management experience and easy to use website makes the brokerage great for current Ally Bank customers and everyday investors alike. Read full review

ChoiceTrade

ChoiceTrade
While ChoiceTrade advertises free stock trades, unfortunately, monthly costs add up, and, overall, ChoiceTrade provides customers an online investing experience not worth the hassle. Read full review

Overall Rating

Feature Ally Invest ChoiceTrade
Overall 3 2.5
Ally Invest Review ChoiceTrade Review

Trading Fees

Feature Ally Invest ChoiceTrade
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 $0.50 $0.40
Mutual Fund Trade Fee $9.95 N/A
Broker Assisted Trades Fee $20.00 $30.00
Commissions & Fees 3.5 3.5
Winner check_circle

Margin Rates

Feature Ally Invest ChoiceTrade
Under $24,999.99 9.50% 7.75%
$25,000.00 to $49,999.99 9.25% 7.75%
$50,000.00 to $99,999.99 8.50% 7.75%
$100,000.00 to $249,999.99 7.25% 7.75%
$250,000.00 to $499,999.99 6.25% 7.75%
$500,000.00 to $999,999.99 5.75% 8.25%
Above $1,000,000.00 5.00% 8.25%
Commissions & Fees 3.5 3.5
Winner check_circle

Account Fees

Feature Ally Invest ChoiceTrade
IRA Annual Fee $0.00 $50.00
IRA Closure Fee $50.00 $50.00
Returned ACH Fee $30.00 $40.00
Returned Wire Fee $30.00 $40.00
Stock Certificate Processing Fee $300.00 N/A
Stock Certificate Delivery Fee $300.00 N/A
Paper Statement Fee $2.00 $5.00
Paper Confirmation Fee $1.00 $1.00
Domestic Wire Fee $30.00 $35.00
International Wire Fee N/A $60.00
Commissions & Fees 3.5 3.5

Investment Options

Feature Ally Invest ChoiceTrade
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
No No
Forex Trading
Yes No
Commission-Free ETFs all All
Mutual Funds (No Load)
11234 0
Mutual Funds (Total)
18728 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
Yes No
International Trading
No No
Offering of Investments 4 2
Winner check_circle

Order Types

Feature Ally Invest ChoiceTrade
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
No Yes
Order Type - OCO
Yes No
Order Type - OTO
Yes No
Order Type - OTOCO
No No
Offering of Investments 4 2
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Trading Platforms

Feature Ally Invest ChoiceTrade
Desktop Platform (Windows)
No Yes
Desktop Platform (Mac)
No Yes
Web Platform
Yes Yes
Paper Trading
No Yes
Trade Journal
No No
Watch Lists - Total Fields
21 19
Heat Mapping
No Yes
Platforms & Tools 2.5 2
Winner check_circle

Charting Features

Feature Ally Invest ChoiceTrade
Charting - Trade Off Chart
No No
Charting - Indicators / Studies
117 42
Charting - Drawing Tools
36 4
Charting - Historical Trades
No Yes
Charting - Corporate Events
Yes Yes
Charting - Automated Analysis
Yes Yes
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
5 2
Charting - Custom Studies
No No
Platforms & Tools 2.5 2
Winner check_circle

Day Trading

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

Mobile Trading Apps

Feature Ally Invest ChoiceTrade
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No No
Trading - Stocks
Yes Yes
Trading - After-Hours
No Yes
Trading - Conditional Orders
No No
Trading - Mutual Funds
No 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 Ally Invest ChoiceTrade
Watch List Syncing
Yes Yes
Stock Alerts
No No
Charting - After Hours
No Yes
Charting - Drawing
No No
Charting - Study Customizations
No Yes
Heatmapping
No Yes
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 3 2
Winner check_circle

Research Overview

Feature Ally Invest ChoiceTrade
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes Yes
Research - Fixed Income
No Yes
Screener - Stocks
No No
Screener - ETFs
No No
Screener - Mutual Funds
No No
Screener - Options
No No
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
No No
Research 2 1.5
Winner check_circle

Stock Research

Feature Ally Invest ChoiceTrade
Stock Research - Reports
2 0
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
Yes Yes
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
Yes Yes
Stock Research - Social
No No
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
Yes Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 2 1.5
Winner check_circle

ETF Research

Feature Ally Invest ChoiceTrade
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
No No
ETFs - Sector Exposure
No No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes No
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
No No
ETFs - Reports
Yes No
Research 2 1.5
Winner check_circle

Mutual Fund Research

Feature Ally Invest ChoiceTrade
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
No No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
No No
Mutual Funds - Asset Allocation
No No
Mutual Funds - Sector Allocation
Yes No
Mutual Funds - Country Allocation
No No
Mutual Funds - StyleMap
No No
Mutual Funds - 3rd Party Ratings
Yes No
Research 2 1.5
Winner check_circle

Options Trading

Feature Ally Invest ChoiceTrade
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
8 18
Option Chains - Greeks
1 4
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes Yes
Option Probability Analysis Adv
No Yes
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes Yes
Option Positions - Rolling
No Yes
Option Positions - Grouping
Yes Yes
Platforms & Tools 2.5 2
Winner check_circle

Beginners

Feature Ally Invest ChoiceTrade
Has Education - Stocks
Yes No
Has Education - ETFs
No No
Has Education - Options
Yes Yes
Has Education - Mutual Funds
Yes No
Has Education - Fixed Income
Yes No
Has Education - Retirement
Yes No
Paper Trading
No Yes
Videos
No No
Webinars (Monthly Avg)
15 0
Webinars (Archived)
No No
Live Seminars
No No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
No No
Education 3.5 1
Winner check_circle

Banking

Feature Ally Invest ChoiceTrade
Retail Locations
0 0
Member FDIC
Yes No
Checking Accounts
Yes No
Savings Accounts
Yes No
Credit Cards
Yes No
Debit Cards
Yes No
Mortgage Loans
Yes No
No Fee Banking
Yes No
Banking 4 0.5
Winner check_circle

Overall

Feature Ally Invest ChoiceTrade
Ally Invest Review ChoiceTrade Review
Overall 3 2.5
Winner check_circle

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 ChoiceTrade. Is Ally Invest or ChoiceTrade 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 ChoiceTrade have equal fees for trading stocks (equities), $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Option contracts are pricier at Ally Invest, costing $0.50 versus $0.40 at ChoiceTrade. 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. ChoiceTrade offers clients Stock Trading and Options Trading while Ally Invest offers Stock Trading, Options Trading, Mutual Funds and Forex Trading. When it comes to mutual funds, Ally Invest boasts an offering of 18728 mutual funds compared to ChoiceTrade's 0 available funds.

Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. ChoiceTrade has virtual trading, Ally Invest doesn't. For mobile trading, ChoiceTrade offers the iPhone App and Android App while Ally Invest offers 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 clients of Ally Invest while ChoiceTrade offers customers none of these.

Overall, between Ally Invest and ChoiceTrade, Ally Invest is the winner.

Ally Invest Review
ChoiceTrade Review



All pricing data was obtained from a published web site as of 01/14/2020 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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