Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare Ally Invest vs E*TRADE.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. 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. Each option contract then costs $0.65 at E*TRADE and $0.50 at Ally Invest. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.
Next to commission rates, being able to trade what you want is important. 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. Looking at mutual funds, Ally Invest offers its clients access to 14000 different mutual funds while E*TRADE has 9062 available funds, a difference of 4,938.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. E*TRADE offers virtual trading while Ally Invest does not. Taking a look at mobile trading, Ally Invest along with E*TRADE both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some 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