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 Firstrade. Is Ally Invest or Firstrade a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Ally Invest, with its regular stock trades costing $4.95, is more expensive than Firstrade's rate of $0 per trade. With options, the base fees charged are $4.95 (Ally Invest) and $0 (Firstrade). Firstrade's per contract rate of $0 is less than Ally Invest which charges $0.65. 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. Firstrade provides its clients with Stock Trading, Options Trading and Mutual Funds while Ally Invest provides clients access to Stock Trading, Options Trading, Mutual Funds and Forex Trading. When it comes to mutual funds, Ally Invest boasts an offering of 14000 mutual funds compared to Firstrade's 12603 available funds. Commission free ETFs can also be a nice plus, with Ally Invest having the upper hand thanks to its 116 available commission free ETFs compared to Firstrade's offering of all.
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 Firstrade 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. Checking Accounts and Debit Cards are available to clients of Firstrade while Ally Invest offers customers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. On the whole, when it comes to tools, research, and mobile trading, both Ally Invest and Firstrade found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Firstrade boasts 4.00 stars versus Ally Invest's 3.50 stars.