Is Firstrade better than Ally Invest? After testing 15 of the best online brokers over six months, Firstrade (77.79%) is better than Ally Invest (74.83%). Firstrade scored well in our 2022 Annual Review for ease of use, and is a great choice for Chinese-speaking investors. However, it lags behind the competition in certain areas, especially platforms, tools and education.
| Overall Rating | Firstrade | Ally Invest |
|---|---|---|
| Overall | ||
| Commissions & Fees | ||
| Investment Options | ||
| Platforms & Tools | ||
| Mobile Trading Apps | ||
| Research | ||
| Customer Service | ||
| Education | ||
| Ease Of Use | ||
| Winner | check_circle | |
| Review | Firstrade Review | Ally Invest Review |
| Trading Fees | Firstrade | Ally Invest |
|---|---|---|
| Minimum Deposit | $0.00 | $0.00 |
| Stock Trades | $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 | Firstrade | Ally Invest |
|---|---|---|
| Margin Rate Under $24,999.99 | 8.75% | 7.75% |
| Margin Rate $25,000.00 to $49,999.99 | 8.25% | 7.50% |
| Margin Rate $50,000.00 to $99,999.99 | 7.75% | 6.75% |
| Margin Rate $100,000.00 to $249,999.99 | 7.25% | 5.50% |
| Margin Rate $250,000.00 to $499,999.99 | 7.00% | 4.50% |
| Margin Rate $500,000.00 to $999,999.99 | 5.10% | 4.00% |
| Margin Rate Above $1,000,000.00 | 4.50% | 3.25% |
| Account Fees | 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 |
| Options Exercise Fee | 0.00 | 0.00 |
| Options Assignment Fee | 0.00 | 0.00 |
| Investment Options | 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 Countries (Stocks) | 0 | 0 |
| Order Types | 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 | 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 (Archived) | Yes | Yes |
| Progress Tracking | No | No |
| Interactive Learning - Quizzes | No | No |
| Stock Trading Apps | 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 | 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 Lists - Total Fields | 47 | 21 |
| Stock App Charting | 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 | 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 | 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 | 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 | 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 - Bonds | Yes | Yes |
| Misc - Portfolio Allocation | Yes | No |
| Stock Research | Firstrade | Ally Invest |
|---|---|---|
| Stock Research - PDF Reports | 1 | 2 |
| Stock Research - Earnings | Yes | Yes |
| Stock Research - Insiders | Yes | Yes |
| Stock Research - Social | No | No |
| Stock Research - News | Yes | Yes |
| Stock Research - ESG | No | No |
| Stock Research - SEC Filings | Yes | Yes |
| ETF Research | 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 - 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 | 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 - 3rd Party Ratings | Yes | 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 |
| Options Trading | 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 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 - Greeks Streaming | No | No |
| Option Positions - Adv Analysis | No | Yes |
| Option Positions - Rolling | Yes | Yes |
| Option Positions - Grouping | No | Yes |
| Banking | 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 | 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 | Firstrade | Ally Invest |
|---|---|---|
| Overall | ||
| Commissions & Fees | ||
| Investment Options | ||
| Platforms & Tools | ||
| Mobile Trading Apps | ||
| Research | ||
| Education | ||
| Ease Of Use |
Comparing brokers side by side is no easy task. For our 2022 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Firstrade vs Ally Invest.
Ally Invest offers more comprehensive new investor education for beginner investors than Firstrade. Firstrade offers investors access to Videos, Education (Stocks), Education (Options) and Education (Retirement), while Ally Invest offers investors access to Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), neither have Paper Trading.
Firstrade and Ally Invest charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Ally Invest, costing $0.50 per contract versus $0.00 per contract at Firstrade. For a complete commissions summary, see our best brokers for free stock trading guide.
Firstrade offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets and Mutual Funds, while Ally Invest offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds, Forex Trading and Advisor Services, neither have Fractional Shares and Futures Trading. Looking at Mutual Funds, Ally Invest trails Firstrade in its offering of no transaction fee (NTF) mutual funds, with Firstrade offering 3767 and Ally Invest offering 0.
To compare the trading platforms of Firstrade and Ally Invest, 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.
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts and Debit Cards are offered by Firstrade while Ally Invest offers Checking Accounts, Savings Accounts, Debit Cards and Mortgage Loans, neither have Credit Cards.
Firstrade scored well in our 2022 Annual Review for ease of use, and is a great choice for Chinese-speaking investors. However, it lags behind the competition in certain areas, especially platforms, tools and education.
For current Ally customers looking to invest in stocks, Ally's universal-accounts experience and easy-to-use website offer a convenient solution.
Overall winner: Firstrade
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