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. E*TRADE charges $6.95 per stock trade which is $2.00 more than Ally Invest which charges customers $4.95 per trade. With options, the base fees charged are $6.95 (E*TRADE) and $4.95 (Ally Invest). Option contracts are pricier at E*TRADE, costing $0.75 versus $0.65 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, Ally Invest offers its clients access to 14000 different mutual funds while E*TRADE has 9062 available funds, a difference of 4,938. Commission free ETFs can also be a nice plus, with Ally Invest falling behind E*TRADE, offering 116 commission free ETFs compared to E*TRADE's 295.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Neither broker offers virtual trading. For mobile trading, Both Ally Invest and E*TRADE offer clients access to an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Clients can have Checking Accounts, Savings Accounts and Debit Cards at E*TRADE while customers at Ally Invest can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. On the whole, when it comes to tools, research, and mobile trading, E*TRADE posted awards Best in Class - Research and Best in Class - Mobile Trading in 2018, while Ally Invest found itself with none of these.
Overall, E*TRADE takes the upper hand with 4 stars over Ally Invest's 3 stars.