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Ally Invest vs ChoiceTrade 2019

Blain Reinkensmeyer

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 ChoiceTrade better than Ally Invest? After scoring brokers in nine separate categories for our 2019 review, Ally Invest (62.44%) is better than ChoiceTrade (45.72%). Ally Invest offers a clean online trading experience best suited to current Ally Bank customers.

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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) $4.95 $0.00
Options Base Fee $4.95 $5.00
Options Per Contract Fee $0.65 $0.15
Mutual Fund Trade Fee $9.95 N/A
Broker Assisted Trades Fee $20.00 $30.00
IRA Annual Fee $0.00 $50.00
IRA Closure Fee $50.00 $50.00
Commissions & Fees 3.5 3.5
Winner check_circle

Margin Rates

Feature Ally Invest ChoiceTrade
Under $24,999.99 9.75% 8.25%
$25,000.00 to $49,999.99 9.50% 8.25%
$50,000.00 to $99,999.99 8.75% 8.25%
$100,000.00 to $249,999.99 7.50% 8.25%
$250,000.00 to $499,999.99 6.50% 8.25%
$500,000.00 to $999,999.99 6.00% 8.25%
Above $1,000,000.00 5.25% 8.25%
Commissions & Fees 3.5 3.5
Winner check_circle

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 4
Two-Factor Authentication Login
Yes No
Heat Mapping
No No
Platforms & Tools 2.5 2
Winner check_circle

Charting Features

Feature Ally Invest ChoiceTrade
Charting - Trade Off Chart
No No
Charting - Indicators / Studies
117 20
Charting - Drawing Tools
36 0
Charting - Historical Trades
No No
Charting - Corporate Events
Yes No
Charting - Automated Analysis
Yes Yes
Charting - Save Profiles
Yes No
Charting - Study Customizations
5 1
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
No No
Short Locator
No No
Client Liquidity Rebates
No No
Winner check_circle

Mobile Trading

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 No
Trading - Option Rolling
No No
Touch / Face ID
Yes No
Watch List Syncing
Yes Yes
Stock Alerts - Basic Fields
No No
Stock Alerts - Advanced Fields
No No
Charting - After Hours
No Yes
Charting - Drawing
No No
Charting - Study Customizations
No No
Customizable Homescreen
No No
Heatmapping
No No
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
Research - Futures
No No
Research - Forex
No No
Screener - Stocks
No No
Screener - ETFs
No No
Screener - Mutual Funds
No No
Screener - Options
No No
Screener - Bonds
No 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
No Yes
Stock Research - Insiders
No Yes
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
No Yes
Stock Research - Social
No No
Stock Research - Balance Sheet
No Yes
Stock Research - Cash Flows
No Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 2 1.5
Winner check_circle

Fund 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
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
No No
Mutual Funds - Reports
No 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 11
Option Chains - Greeks
1 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 No
Option Positions - Adv Analysis
Yes No
Option Positions - Rolling
No No
Option Positions - Grouping
Yes Yes
Platforms & Tools 2.5 2
Winner check_circle

Investments

Feature Ally Invest ChoiceTrade
Stock Trading
Yes Yes
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 116 0
Mutual Funds (No Load)
7200 0
Mutual Funds (Total)
14000 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
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)
17 0
Webinars (Archived)
No No
Live Seminars
Yes 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
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 ChoiceTrade 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 charges more than ChoiceTrade for placing regular stock trades ($4.95 and $0, respectively). For options trading, ChoiceTrade has a base fee of $5.00, and Ally Invest a base fee of $4.95. ChoiceTrade's per contract rate of $0.15 is less than Ally Invest which charges $0.65. 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. ChoiceTrade provides its clients with Stock Trading and Options Trading while Ally Invest provides clients access to Stock Trading, Options Trading, Mutual Funds and Forex Trading. As far as mutual funds go, ChoiceTrade trails Ally Invest by 14,000 total mutual funds, with Ally Invest offering 14000 and ChoiceTrade offering 0.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. ChoiceTrade offers virtual trading while Ally Invest does not. For mobile trading, ChoiceTrade supports the iPhone App and Android App while Ally Invest supports the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Ally Invest while ChoiceTrade offers 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 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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