E*TRADE vs Ally Invest Review
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 E*TRADE better than Ally Invest? After scoring brokers in nine separate categories for our 2019 review, E*TRADE (83.68%) is better than Ally Invest (62.44%). While E*TRADE may not offer the cheapest trades, the Power E*TRADE platform is great for options trading, and the broker offers two great mobile apps.
First, we will break down the commission charges of both brokers for placing stock and options trades. E*TRADE charges $6.95 per stock trade which is $2.00 more than Ally Invest which charges customers $4.95 per trade. For options trading, E*TRADE has a base fee of $6.95, and Ally Invest a base fee of $4.95. Each option contract then costs $0.75 at E*TRADE and $0.65 at Ally Invest. 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. E*TRADE supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Ally Invest supports Stock Trading, Options Trading, Mutual Funds and Forex Trading. As far as mutual funds go, Ally Invest boasts an offering of 14000 mutual funds compared to E*TRADE's 9062 available funds.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Ally Invest nor E*TRADE offers virtual trading. For mobile trading, Both Ally Invest and E*TRADE offer clients access to an 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 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
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.