menuclose
StockBrokers.com is committed to the highest ethical standards and reviews services independently. Learn how we make money.

Firstrade vs Ally Invest 2023

StockBrokers.com

Written by StockBrokers.com

February 23, 2023

Is Firstrade better than Ally Invest? After testing 17 of the best online brokers over three months, Firstrade (87.80%) is better than Ally Invest (84.59%). Firstrade scored well in our 2023 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.

Select Brokers

❯×
× Firstrade

Earn up to $4,000 in cash rewards

Visit Site

× Ally Invest
Sponsored

+ Add Broker

Close Menu ×
navigate_before navigate_next
Overall RatingFirstradeAlly Invest
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 3.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4/5 Stars
Customer Service 3.0/5 Stars 4/5 Stars
Education 3.5/5 Stars 4/5 Stars
Ease Of Use 4.5/5 Stars 4.5/5 Stars
Winner check_circle
Review Firstrade Review Ally Invest Review
Trading FeesFirstradeAlly Invest
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) $0.00 $4.95
Mutual Fund Trade Fee $0 $0.00
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
Margin RatesFirstradeAlly Invest
Margin Rate Under $25,000 11.50% 10.75%
Margin Rate $25,000 to $49,999.99 11.30% 10.50%
Margin Rate $50,000 to $99,999.99 10.80% 9.75%
Margin Rate $100,000 to $249,999.99 10.30% 8.50%
Margin Rate $250,000 to $499,999.99 10.00% 7.50%
Margin Rate $500,000 to $999,999.99 8.10% 7.00%
Margin Rate Above $1,000,000 7.50% 6.25%
Account FeesFirstradeAlly 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 OptionsFirstradeAlly Invest
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares No No
OTC Stocks Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading No No
Forex Trading No Yes
Crypto Trading Yes No
Crypto Trading - Total Coins 38 0
Mutual Funds (No Load) 13777 13500
Mutual Funds (Total) 19027 15000
Bonds (US Treasury) Yes Yes
Bonds (Corporate) Yes Yes
Bonds (Municipal) Yes Yes
Advisor Services No Yes
International Countries (Stocks) 0 0
Order TypesFirstradeAlly 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
BeginnersFirstradeAlly 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 Yes No
Webinars (Archived) Yes Yes
Progress Tracking No No
Interactive Learning - Quizzes No No
Stock Trading AppsFirstradeAlly 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 FeaturesFirstradeAlly Invest
Market Movers (Top Gainers) Yes Yes
Stream Live TV No No
Videos on Demand No No
Stock Alerts Yes 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 50 21
Stock App ChartingFirstradeAlly 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 PlatformsFirstradeAlly Invest
Active Trading Platform Firstrade Navigator N/A
Desktop Trading Platform No No
Desktop Platform (Mac) No No
Web Trading Platform Yes Yes
Paper Trading No No
Trade Journal No No
Watch Lists - Total Fields 50 21
Stock Chart FeaturesFirstradeAlly 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 No
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 TradingFirstradeAlly 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 No
Trade Ideas - Backtesting Adv No No
Short Locator No No
Order Liquidity Rebates No No
Research OverviewFirstradeAlly 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 ResearchFirstradeAlly Invest
Stock Research - PDF Reports 1 2
Stock Research - Earnings Yes Yes
Stock Research - Insiders Yes Yes
Stock Research - Social No Yes
Stock Research - News Yes Yes
Stock Research - ESG No No
Stock Research - SEC Filings Yes Yes
ETF ResearchFirstradeAlly 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 ResearchFirstradeAlly 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 TradingFirstradeAlly 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 Yes Yes
Option Probability Analysis No Yes
Option Probability Analysis Adv Yes 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
BankingFirstradeAlly 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 ServiceFirstradeAlly 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 Yes
OverallFirstradeAlly Invest
Overall 4.5/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 3.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 4/5 Stars
Education 3.5/5 Stars 4/5 Stars
Ease Of Use 4.5/5 Stars 4.5/5 Stars
Winner check_circle
Review Firstrade Review Ally Invest Review
  • check_box_outline_blankcheck_boxAlly Invest
  • check_box_outline_blankcheck_boxCharles Schwab
  • check_box_outline_blankcheck_boxE*TRADE
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFidelity
  • check_box_outline_blankcheck_boxFirstrade
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
  • check_box_outline_blankcheck_boxMerrill Edge
  • check_box_outline_blankcheck_boxRobinhood
  • check_box_outline_blankcheck_boxSofi Invest
  • check_box_outline_blankcheck_boxtastytrade
  • check_box_outline_blankcheck_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTradeStation
  • check_box_outline_blankcheck_boxTradier
  • check_box_outline_blankcheck_boxVanguard
  • check_box_outline_blankcheck_boxWebull

Compare

0 of 5
arrow_upward

Firstrade vs Ally Invest Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Firstrade vs Ally Invest.

Is Firstrade or Ally Invest better for beginners?

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.

What about Firstrade vs Ally Invest pricing?

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.

Does Firstrade or Ally Invest offer a wider range of investment options?

Firstrade offers investors access to Stock Trading, Options Trading, OTC Stocks and Mutual Funds, while Ally Invest offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds, Forex Trading and Advisor Services. Neither have Fractional Shares and Futures Trading. Looking at Mutual Funds, Firstrade trails Ally Invest in its offering of no transaction fee (NTF) mutual funds, with Ally Invest offering 4000 and Firstrade offering 3767.

Which trading platform is better: Firstrade or Ally Invest?

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, Firstrade 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 offered by Firstrade while Ally Invest offers Checking Accounts, Savings Accounts, Debit Cards and Mortgage Loans. Neither have Credit Cards.

Is Firstrade good?

Firstrade scored well in our 2023 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.

Is Ally Invest good?

For current Ally customers looking to invest in stocks, Ally's universal-accounts experience and easy-to-use website offer a convenient solution. Its website is far stronger than the mobile app.

Firstrade vs Ally Invest Winner

Overall winner: Firstrade

Read Next

Explore our other online trading guides:

More Comparisons

Firstrade vs Sofi Invest Firstrade vs Vanguard Firstrade vs Webull Firstrade vs Interactive Brokers Firstrade vs Tradier Firstrade vs Charles Schwab Ally Invest vs eToro Ally Invest vs Merrill Edge Ally Invest vs Charles Schwab Ally Invest vs Webull Ally Invest vs TD Ameritrade Ally Invest vs Fidelity

Show all

Was this helpful?
Yes or No

close
navigate_before navigate_next