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 E*TRADE. Is Ally Invest or E*TRADE 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 E*TRADE charge the same amount for regular stock trades, $0. With options, the base fee is $0 for both Ally Invest and E*TRADE. Option contracts are pricier at E*TRADE, costing $0.65 versus $0.50 at Ally Invest. 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. E*TRADE offers clients Stock Trading, Options Trading, Mutual Funds and Futures Trading while Ally Invest offers Stock Trading, Options Trading, Mutual Funds and Forex Trading. When it comes to mutual funds, E*TRADE trails Ally Invest by 4,938 total mutual funds, with Ally Invest offering 14000 and E*TRADE offering 9062.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. E*TRADE offers virtual trading while Ally Invest does not. For mobile trading, Ally Invest and E*TRADE both have a 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 and Debit Cards are offered by E*TRADE while Ally Invest offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Overall, between Ally Invest and E*TRADE, E*TRADE is the winner.
Ally Invest Review