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Interactive Brokers vs Ally Invest 2020

Is Ally Invest better than Interactive Brokers? After testing 15 of the best online brokers over five months, Interactive Brokers (90.58%) is better than Ally Invest (79.49%). While Interactive Brokers is not well known for its casual investor offering, it leads the industry with low-cost trading for professionals. Through the Trader Workstation (TWS) platform, Interactive Brokers offers excellent tools and an extensive selection of tradeable securities.

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Overall Rating

Trading Fees

Feature Interactive Brokers Ally Invest
Minimum Deposit $0.00 $0.00
Stock Trade Fee (per trade) N/A $0.00
ETF Trade Fee $0.01 $0.00
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.65 $0.50
Mutual Fund Trade Fee $14.95 $9.95
Broker Assisted Trades Fee $30.00 $20.00
Commissions & Fees 5 4.5
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Margin Rates

Feature Interactive Brokers Ally Invest
Under $24,999.99 3.08% 9.50%
$25,000.00 to $49,999.99 3.08% 9.25%
$50,000.00 to $99,999.99 3.08% 8.50%
$100,000.00 to $249,999.99 2.58% 7.25%
$250,000.00 to $499,999.99 3.18% 6.25%
$500,000.00 to $999,999.99 2.75% 5.75%
Above $1,000,000.00 2.08% 5.00%
Commissions & Fees 5 4.5
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Account Fees

Feature Interactive Brokers Ally Invest
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $0.00 $50.00
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
Commissions & Fees 5 4.5

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
Commission-Free ETFs 96 all
Mutual Funds (No Load)
8655 11234
Mutual Funds (Total)
18210 18728
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Interest Sharing
Yes No
Advisor Services
No Yes
International Trading
Yes No
Offering of Investments 4.5 4
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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 Yes
Order Type - Contingent
Yes Yes
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes Yes
Order Type - OTO
Yes Yes
Order Type - OTOCO
Yes No
Offering of Investments 4.5 4
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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
Watch Lists - Total Fields
494 21
Heat Mapping
Yes No
AI Assistant Bot
Yes No
Platforms & Tools 4.5 3
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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
Charting - Study Customizations
6 5
Charting - Custom Studies
No No
Platforms & Tools 4.5 3
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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
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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
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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
Mobile Trading 4.5 3.5
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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 No
Screener - Mutual Funds
No No
Screener - Options
Yes No
Screener - Bonds
Yes Yes
Misc - Portfolio Builder
Yes Yes
Misc - Portfolio Allocation
Yes No
Research 4 3.5
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Stock Research

Feature Interactive Brokers Ally Invest
Stock Research - Reports
2 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
Research 4 3.5
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ETF Research

Feature Interactive Brokers Ally Invest
ETFs - Strategy Overview
Yes Yes
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes Yes
ETFs - Performance Analysis
Yes Yes
ETFs - Ratings
Yes Yes
ETFs - Morningstar StyleMap
No No
ETFs - Reports
Yes Yes
Research 4 3.5
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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 No
Mutual Funds - Asset Allocation
No 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
Research 4 3.5
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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
Platforms & Tools 4.5 3
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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 No
Live Seminars
No No
Progress Tracking
Yes No
Interactive Learning - Quizzes
Yes No
Investor Magazine
Yes No
Education 4 3.5
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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 Yes
Debit Cards
Yes Yes
Mortgage Loans
No Yes
No Fee Banking
Yes Yes
Banking 2 4
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Overall

Feature Interactive Brokers Ally Invest
Interactive Brokers Review Ally Invest Review
Overall 4.5 4
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Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Ally Invest vs Interactive Brokers to determine which broker is best. Let's dive in.

First, we will break down the commission charges of both brokers for placing stock and options trades. Ally Invest and Interactive Brokers have equal fees for trading stocks (equities), $0 per trade. For options trading, both Ally Invest and Interactive Brokers charge the same base fee of $0. Option contracts are pricier at Interactive Brokers, costing $0.65 versus $0.50 at Ally Invest. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.

Next, investors want to make sure they can trade the investment vehicle they want. Interactive Brokers offers clients Stock Trading, Options Trading, Mutual Funds and Futures Trading while Ally Invest offers Stock Trading, Options Trading, Mutual Funds and Forex Trading. As far as mutual funds go, Ally Invest boasts an offering of 18728 mutual funds compared to Interactive Brokers's 18210 available funds.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Interactive Brokers offers virtual trading while Ally Invest does not. For mobile trading, Ally Invest and Interactive Brokers both have a iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts and Debit Cards are offered by Interactive Brokers while Ally Invest offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.

Overall, between Ally Invest and Interactive Brokers, Interactive Brokers is the winner.

Ally Invest Review
Interactive Brokers Review



All pricing data was obtained from a published web site as of 01/20/2020 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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