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Interactive Brokers vs Ally Invest 2021

Is Ally Invest better than Interactive Brokers? After testing 11 of the best online brokers over three months, Interactive Brokers (95.07%) is better than Ally Invest (76.84%). Once again, in 2021, Interactive Brokers is our top pick for professionals because of its institutional-grade desktop trading platform and rock bottom margin rates. Professionals aside, Interactive Brokers also appeals to casual investors with $0 trades and its user-friendly web platform.


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Overall Rating

Feature Interactive Brokers Ally Invest
Overall 5 4
Commissions & Fees 4.5 4.5
Offering of Investments 5 4
Platforms & Tools 4.5 3
Mobile Trading 4.5 3.5
Research 5 3.5
Education 4 3.5
Ease of Use 4 5
Interactive Brokers Review Ally Invest Review
Winner check_circle

Trading Fees

Feature Interactive Brokers 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 $14.95 $9.95
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.65 $0.50
Futures (Per Contract) $0.85 N/A
Broker Assisted Trades Fee $30.00 $20.00

Margin Rates

Feature Interactive Brokers Ally Invest
Under $24,999.99 1.59% 7.75%
$25,000.00 to $49,999.99 1.59% 7.50%
$50,000.00 to $99,999.99 1.59% 6.75%
$100,000.00 to $249,999.99 1.29% 5.50%
$250,000.00 to $499,999.99 1.19% 4.50%
$500,000.00 to $999,999.99 1.14% 4.00%
Above $1,000,000.00 0.75% 3.25%

Account Fees

Feature Interactive Brokers Ally Invest
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $50.00
Account Transfer Out (Partial) $0.00 N/A
Account Transfer Out (Full) $0.00 N/A
Returned ACH Fee N/A $30.00
Returned Wire Fee N/A $30.00
Stock Certificate Processing Fee N/A $300.00
Stock Certificate Delivery Fee N/A $300.00
Paper Statement Fee N/A $2.00
Paper Confirmation Fee N/A $1.00
Domestic Wire Fee $10.00 $30.00
International Wire Fee $10.00 N/A

Investment Options

Feature Interactive Brokers Ally Invest
Stock Trading
Yes Yes
Fractional Shares
Yes No
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
8 4
Futures Trading
Yes No
Forex Trading
No Yes
Crypto Trading No No
Mutual Funds (No Load)
8734 11153
Mutual Funds (Total)
11080 18352
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Advisor Services
No Yes
International Trading
Yes No
AI Assistant Bot
Yes No

Order Types

Feature Interactive Brokers Ally Invest
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes No
Order Type - Contingent
Yes Yes
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes No
Order Type - OTO
Yes No
Order Type - OTOCO
Yes No

Customer Service

Feature Interactive Brokers Ally Invest
Phone Support (Prospect Customers)
Yes Yes
Phone Support (Current Customers)
Yes Yes
Email Support
Yes Yes
Live Chat (Prospect Customers)
No Yes
Live Chat (Current Customers)
Yes Yes
24/7 Support
No No

Trading Platforms

Feature Interactive Brokers Ally Invest
Desktop Platform (Windows)
Yes No
Desktop Platform (Mac)
Yes No
Web Platform
Yes Yes
Paper Trading
Yes No
Trade Journal
Yes No
Heat Mapping
Yes No
Watch Lists - Total Fields
494 21

Charting Features

Feature Interactive Brokers Ally Invest
Charting - Trade Off Chart
Yes No
Charting - Indicators / Studies
121 117
Charting - Drawing Tools
9 36
Charting - Historical Trades
Yes No
Charting - Corporate Events
Yes Yes
Charting - Automated Analysis
No Yes
Charting - Save Profiles
Yes Yes
Trade Ideas - Technical Analysis
No Yes
Charting - Study Customizations
6 5
Charting - Custom Studies
No No

Day Trading

Feature Interactive Brokers Ally Invest
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
No No
Streaming Time & Sales
Yes No
Streaming TV
Yes No
Direct Market Routing - Stocks
Yes No
Direct Market Routing - Options
Yes No
Ladder Trading
Yes No
Trade Hot Keys
Yes No
Level 2 Quotes - Stocks
Yes No
Level 2 Quotes - Options
Yes No
Trade Ideas - Backtesting
Yes Yes
Short Locator
Yes No
Order Liquidity Rebates
Yes No

Mobile Trading Apps

Feature Interactive Brokers Ally Invest
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes No
Trading - Conditional Orders
Yes No
Trading - Mutual Funds
Yes No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes

Mobile App Features

Feature Interactive Brokers Ally Invest
Watch List Syncing
Yes Yes
Stock Alerts
Yes No
Charting - After Hours
Yes No
Charting - Drawing
No No
Charting - Study Customizations
Yes No
Heatmapping
No No
Stream Live TV
Yes No
Barcode Lookup
No No

Research Overview

Feature Interactive Brokers Ally Invest
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes Yes
Research - Pink Sheets / OTCBB
Yes Yes
Research - Fixed Income
Yes No
Screener - Stocks
Yes No
Screener - ETFs
Yes Yes
Screener - Mutual Funds
Yes No
Screener - Options
Yes No
Screener - Bonds
Yes Yes
Misc - Portfolio Builder
Yes Yes
Misc - Portfolio Allocation
Yes No

Stock Research

Feature Interactive Brokers Ally Invest
Stock Research - Reports
3 2
Stock Research - Earnings
Yes Yes
Stock Research - Insiders
Yes Yes
Stock Research - Metric Comp
Yes No
Stock Research - SEC Filings
Yes Yes
Stock Research - Social
Yes No
Stock Research - Balance Sheet
Yes Yes
Stock Research - Cash Flows
Yes Yes
Stock Research - News
Yes Yes
Stock Research - ESG
Yes No

ETF Research

Feature Interactive Brokers Ally Invest
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes Yes
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes Yes
ETFs - Performance Analysis
Yes Yes
ETFs - Ratings
Yes Yes
ETFs - Morningstar StyleMap
Yes No
ETFs - Reports
Yes Yes

Mutual Fund Research

Feature Interactive Brokers Ally Invest
Mutual Funds - Strategy Overview
Yes Yes
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
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
Mutual Funds - 3rd Party Ratings
Yes Yes

Options Trading

Feature Interactive Brokers Ally Invest
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
37 8
Option Chains - Greeks
4 1
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes Yes
Option Probability Analysis Adv
Yes No
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes Yes
Option Positions - Rolling
Yes No
Option Positions - Grouping
Yes Yes

Beginners

Feature Interactive Brokers Ally Invest
Education (Stocks)
Yes Yes
Education (ETFs)
Yes No
Education (Options)
Yes Yes
Education (Mutual Funds)
No Yes
Education (Fixed Income)
Yes Yes
Education (Retirement)
No Yes
Paper Trading
Yes No
Videos
Yes No
Webinars (Monthly Avg)
20 15
Webinars (Archived)
Yes Yes
Live Seminars
No No
Progress Tracking
Yes No
Interactive Learning - Quizzes
Yes No

Banking

Feature Interactive Brokers Ally Invest
Retail Locations
0 0
Member FDIC
Yes Yes
Checking Accounts
Yes Yes
Savings Accounts
No Yes
Credit Cards
No No
Debit Cards
Yes Yes
Mortgage Loans
No Yes
No Fee Banking
Yes Yes

Overall

Feature Interactive Brokers Ally Invest
Overall 5 4
Commissions & Fees 4.5 4.5
Offering of Investments 5 4
Platforms & Tools 4.5 3
Mobile Trading 4.5 3.5
Research 5 3.5
Education 4 3.5
Ease of Use 4 5
Interactive Brokers 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 Interactive Brokers.

Is Ally Invest or Interactive Brokers better for beginners?
Interactive Brokers is better for beginner investors than Ally Invest. Interactive Brokers offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options) and Education (Fixed Income).

What about Ally Invest vs Interactive Brokers pricing?
Ally Invest and Interactive Brokers both cost $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Each option contract then costs $0.65 at Interactive Brokers and $0.50 at Ally Invest. For a complete commissions summary, see our best discount brokers guide.

Does Ally Invest or Interactive Brokers offer a wider range of investment options?
Interactive Brokers offers a more diverse selection of investment options than Ally Invest. Interactive Brokers offers investors access to Stock Trading, Fractional Shares, OTCBB / Pink Sheets, Options Trading, Mutual Funds, Futures Trading and International Trading. Looking at Mutual Funds, Interactive Brokers trails Ally Invest by 7,272 total mutual funds, with Ally Invest offering 18352 and Interactive Brokers offering 11080.

Which trading platform is better: Ally Invest or Interactive Brokers?
To compare the trading platforms of both Ally Invest and Interactive Brokers, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Interactive Brokers offers a better experience. With research, Interactive Brokers offers superior market research. Finally, we found Interactive Brokers 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 Interactive Brokers while Ally Invest offers customers Checking Accounts, Savings Accounts, Debit Cards and Mortgage Loans.

Overall winner: Interactive Brokers

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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.

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