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