Is Ally Invest better than Firstrade? After testing 11 of the best online brokers over three months, Firstrade (78.89%) is better than Ally Invest (76.84%). While Firstrade is easy to use and terrific for Chinese-speaking investors, its overall offering struggles to stand out against brokers who also offer $0 stock trades.
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Firstrade vs Ally Invest 2021
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Overall Rating
| Feature | Firstrade | Ally Invest |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Ease of Use | ||
| Firstrade Review | Ally Invest Review | |
| Winner | check_circle |
Trading Fees
| Feature | Firstrade | Ally Invest |
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trades | $0.00 | $0.00 |
| ETF Trade Fee | $0.00 | $0.00 |
| Mutual Fund Trade Fee | $0.00 | $9.95 |
| Options (Base Fee) | $0.00 | $0.00 |
| Options (Per Contract) | $0.00 | $0.50 |
| Futures (Per Contract) | N/A | N/A |
| Broker Assisted Trade Fee | $19.95 | $20.00 |
Margin Rates
| Feature | Firstrade | Ally Invest |
| Under $24,999.99 | 8.75% | 7.75% |
| $25,000.00 to $49,999.99 | 8.25% | 7.50% |
| $50,000.00 to $99,999.99 | 7.75% | 6.75% |
| $100,000.00 to $249,999.99 | 7.25% | 5.50% |
| $250,000.00 to $499,999.99 | 7.00% | 4.50% |
| $500,000.00 to $999,999.99 | 5.10% | 4.00% |
| Above $1,000,000.00 | 4.50% | 3.25% |
Account Fees
| Feature | Firstrade | Ally Invest |
| IRA Annual Fee | $0.00 | $0.00 |
| IRA Closure Fee | $0.00 | $25.00 |
|
Account Transfer Out (Partial) |
$55.00 | $50.00 |
|
Account Transfer Out (Full) |
$75.00 | $50.00 |
Investment Options
| Feature | Firstrade | Ally Invest |
|
Stock Trading |
Yes | Yes |
|
Fractional Shares |
No | No |
|
OTCBB / Pink Sheets |
Yes | Yes |
|
Options Trading |
Yes | Yes |
|
Complex Options Max Legs |
4 | 4 |
|
Futures Trading |
No | No |
|
Forex Trading |
No | Yes |
|
Crypto Trading |
No | No |
|
Crypto Trading - Total Coins |
0 | 0 |
|
Mutual Funds (No Load) |
13777 | 11806 |
|
Mutual Funds (Total) |
19027 | 19024 |
|
Bonds (US Treasury) |
Yes | Yes |
|
Bonds (Corporate) |
Yes | Yes |
|
Bonds (Municipal) |
Yes | Yes |
|
Advisor Services |
No | Yes |
|
International Trading |
No | No |
Order Types
| Feature | Firstrade | Ally Invest |
|
Order Type - Market |
Yes | Yes |
|
Order Type - Limit |
Yes | Yes |
|
Order Type - After-Hours |
Yes | Yes |
|
Order Type - Stop |
Yes | Yes |
|
Order Type - Trailing Stop |
Yes | No |
|
Order Type - OCO |
Yes | No |
|
Order Type - OTO |
Yes | No |
|
Order Type - Broker Assisted |
Yes | Yes |
Beginners
| Feature | Firstrade | Ally Invest |
|
Education (Stocks) |
Yes | Yes |
|
Education (ETFs) |
No | Yes |
|
Education (Options) |
Yes | Yes |
|
Education (Mutual Funds) |
No | Yes |
|
Education (Bonds) |
No | Yes |
|
Education (Retirement) |
Yes | Yes |
|
Retirement Calculator |
Yes | No |
|
Investor Dictionary |
Yes | Yes |
|
Paper Trading |
No | No |
|
Videos |
Yes | No |
|
Webinars (Monthly Avg) |
26 | 15 |
|
Webinars (Archived) |
Yes | Yes |
|
Progress Tracking |
No | No |
|
Interactive Learning - Quizzes |
No | No |
Stock Trading Apps
| Feature | Firstrade | Ally Invest |
|
iPhone App |
Yes | Yes |
|
Android App |
Yes | Yes |
|
Apple Watch App |
No | No |
|
Trading - Stocks |
Yes | Yes |
|
Trading - After-Hours |
Yes | Yes |
|
Trading - Simple Options |
Yes | Yes |
|
Trading - Complex Options |
Yes | Yes |
|
Order Ticket RT Quotes |
Yes | Yes |
|
Order Ticket SRT Quotes |
Yes | No |
Stock App Features
| Feature | Firstrade | Ally Invest |
|
Market Movers (Top Gainers) |
Yes | Yes |
|
Stream Live TV |
No | No |
|
Videos on Demand |
No | No |
|
Stock Alerts |
No | No |
|
Option Chains Viewable |
Yes | Yes |
|
Watch List (Real-time) |
Yes | Yes |
|
Watch List (Streaming) |
Yes | No |
|
Watch Lists - Create & Manage |
Yes | Yes |
|
Watch Lists - Column Customization |
Yes | No |
|
Watch List - Column Filtering |
Yes | No |
Stock App Charting
| Feature | Firstrade | Ally Invest |
|
Charting - After-Hours |
No | No |
|
Charting - Can Turn Horizontally |
Yes | Yes |
|
Charting - Multiple Time Frames |
Yes | Yes |
|
Charting - Technical Studies |
81 | 17 |
|
Charting - Study Customizations |
Yes | No |
|
Charting - Stock Comparisons |
No | Yes |
Trading Platforms
| Feature | Firstrade | Ally Invest |
|
Desktop Trading Platform |
No | No |
|
Web Trading Platform |
Yes | Yes |
|
Paper Trading |
No | No |
|
Trade Journal |
No | No |
|
Watch Lists - Total Fields |
47 | 21 |
Stock Chart Features
| Feature | Firstrade | Ally Invest |
|
Charting - Adjust Trades on Chart |
No | No |
|
Charting - Indicators / Studies |
102 | 117 |
|
Charting - Drawing Tools |
8 | 36 |
|
Charting - Notes |
No | Yes |
|
Charting - Index Overlays |
Yes | Yes |
|
Charting - Historical Trades |
No | No |
|
Charting - Corporate Events |
Yes | Yes |
|
Charting - Custom Date Range |
No | No |
|
Charting - Custom Time Bars |
No | No |
|
Charting - Automated Analysis |
No | Yes |
|
Charting - Save Profiles |
No | Yes |
|
Trade Ideas - Technical Analysis |
No | Yes |
|
Charting - Study Customizations |
6 | 5 |
|
Charting - Custom Studies |
No | No |
Day Trading
| Feature | Firstrade | Ally Invest |
|
Streaming Time & Sales |
No | No |
|
Streaming TV |
No | No |
|
Direct Market Routing - Stocks |
No | No |
|
Ladder Trading |
No | No |
|
Trade Hot Keys |
No | No |
|
Level 2 Quotes - Stocks |
No | No |
|
Trade Ideas - Backtesting |
No | Yes |
|
Trade Ideas - Backtesting Adv |
No | No |
|
Short Locator |
No | No |
|
Order Liquidity Rebates |
No | No |
Research Overview
| Feature | Firstrade | Ally Invest |
|
Research - Stocks |
Yes | Yes |
|
Research - ETFs |
Yes | Yes |
|
Research - Mutual Funds |
Yes | Yes |
|
Research - Pink Sheets / OTCBB |
Yes | Yes |
|
Research - Bonds |
Yes | No |
|
Screener - Stocks |
Yes | No |
|
Screener - ETFs |
Yes | Yes |
|
Screener - Mutual Funds |
Yes | No |
|
Screener - Options |
No | No |
|
Screener - Bonds |
Yes | Yes |
|
Misc - Portfolio Builder |
No | Yes |
|
Misc - Portfolio Allocation |
Yes | No |
Stock Research
| Feature | Firstrade | Ally Invest |
|
Stock Research - PDF Reports |
1 | 2 |
|
Stock Research - Earnings |
Yes | Yes |
|
Stock Research - Insiders |
Yes | Yes |
|
Stock Research - SEC Filings |
Yes | Yes |
|
Stock Research - Social |
No | No |
|
Stock Research - Balance Sheet |
Yes | Yes |
|
Stock Research - Cash Flows |
Yes | Yes |
|
Stock Research - News |
Yes | Yes |
|
Stock Research - ESG |
No | No |
ETF Research
| Feature | Firstrade | Ally Invest |
|
ETFs - Strategy Overview |
Yes | Yes |
|
ETF Fund Facts - Inception Date |
Yes | Yes |
|
ETF Fund Facts - Expense Ratio |
Yes | Yes |
|
ETF Fund Facts - Net Assets |
Yes | Yes |
|
ETF Fund Facts - Total Holdings |
Yes | Yes |
|
ETFs - Top 10 Holdings |
Yes | Yes |
|
ETFs - Performance Analysis |
Yes | Yes |
|
ETFs - Sector Exposure |
Yes | No |
|
ETFs - Risk Analysis |
Yes | Yes |
|
ETFs - Ratings |
Yes | Yes |
|
ETFs - Morningstar StyleMap |
Yes | No |
|
ETFs - PDF Reports |
Yes | Yes |
Mutual Fund Research
| Feature | Firstrade | Ally Invest |
|
Mutual Funds - Strategy Overview |
Yes | Yes |
|
Mutual Funds - Performance Chart |
Yes | Yes |
|
Mutual Funds - Performance Analysis |
Yes | Yes |
|
Mutual Funds - Prospectus |
Yes | No |
|
Mutual Funds - PDF Reports |
No | Yes |
|
Mutual Funds - Fees Breakdown |
Yes | Yes |
|
Mutual Funds - Top 10 Holdings |
Yes | Yes |
|
Mutual Funds - Asset Allocation |
Yes | No |
|
Mutual Funds - Sector Allocation |
Yes | Yes |
|
Mutual Funds - Country Allocation |
Yes | No |
|
Mutual Funds - StyleMap |
Yes | No |
|
Mutual Funds - 3rd Party Ratings |
Yes | Yes |
Options Trading
| Feature | Firstrade | Ally Invest |
|
Option Chains - Basic View |
Yes | Yes |
|
Option Chains - Strategy View |
Yes | Yes |
|
Option Chains - Streaming |
No | Yes |
|
Option Chains - Total Columns |
8 | 8 |
|
Option Chains - Greeks |
5 | 1 |
|
Option Positions - Greeks Streaming |
No | No |
|
Option Chains - Quick Analysis |
No | Yes |
|
Option Analysis - P&L Charts |
No | Yes |
|
Option Probability Analysis |
No | Yes |
|
Option Probability Analysis Adv |
No | No |
|
Option Positions - Greeks |
No | Yes |
|
Option Positions - Adv Analysis |
No | Yes |
|
Option Positions - Rolling |
Yes | Yes |
|
Option Positions - Grouping |
No | Yes |
Banking
| Feature | Firstrade | Ally Invest |
|
Bank (Member FDIC) |
No | Yes |
|
Checking Accounts |
Yes | Yes |
|
Savings Accounts |
No | Yes |
|
Credit Cards |
No | No |
|
Debit Cards |
Yes | Yes |
|
Mortgage Loans |
No | Yes |
Customer Service
| Feature | Firstrade | Ally Invest |
|
Phone Support (Prospect Customers) |
Yes | Yes |
|
Phone Support (Current Customers) |
Yes | Yes |
|
Email Support |
Yes | Yes |
|
Live Chat (Prospect Customers) |
Yes | Yes |
|
Live Chat (Current Customers) |
Yes | Yes |
|
24/7 Support |
No | No |
Overall
| Feature | Firstrade | Ally Invest |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Ease of Use | ||
| Firstrade Review | Ally Invest Review | |
| Winner | check_circle |
Comparing brokers side by side is no easy task. For our 2021 annual broker review, we spent hundreds of hours assessing 11 brokerages to find the best online broker. Let's compare Ally Invest vs Firstrade.
Is Ally Invest or Firstrade better for beginners?
Ally Invest is better for beginner investors than Firstrade. Ally Invest offers investors access to Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement).
What about Ally Invest vs Firstrade pricing?
Ally Invest and Firstrade have equal fees for trading stocks (equities), $0 per trade. With options, the base fee is $0 for both Ally Invest and Firstrade. Option contracts are pricier at Ally Invest, costing $0.50 versus $0 at Firstrade. For a complete commissions summary, see our best discount brokers guide.
Does Ally Invest or Firstrade offer a wider range of investment options?
Firstrade offers a more diverse selection of investment options than Ally Invest. Firstrade offers investors access to Stock Trading, OTCBB / Pink Sheets, Options Trading and Mutual Funds. Looking at Mutual Funds, Firstrade boasts an offering of 19027 mutual funds compared to Ally Invest's 19024 available funds.
Which trading platform is better: Ally Invest or Firstrade?
To compare the trading platforms of both Ally Invest and Firstrade, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Ally Invest offers a better experience. With research, Firstrade offers superior market research. Finally, we found Firstrade to provide better mobile trading apps.
Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts and Debit Cards are available to clients of Firstrade while Ally Invest offers customers Checking Accounts, Savings Accounts, Debit Cards and Mortgage Loans.
Overall winner: Firstrade
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All pricing data was obtained from a published web site as of 01/19/2021 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.
