Interactive Brokers vs Ally Invest Review
The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.
Is Ally Invest better than Interactive Brokers? After scoring brokers on over 4,000 data points for our 2019 review, Interactive Brokers (80.99%) is better than Ally Invest (62.44%). While Interactive Brokers is not suitable for casual investors, it leads the industry in international trading and low-cost commissions desired by professional traders.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Ally Invest charges more than Interactive Brokers for placing regular stock trades ($4.95 and $0 (the broker charges a per share rate instead), respectively). For options trading, Ally Invest has a base fee of $4.95, and Interactive Brokers a base fee of $0. Ally Invest's per contract rate of $0.65 is less than Interactive Brokers which charges $0.70. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.
Next to commission rates, being able to trade what you want is important. Interactive Brokers supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Ally Invest supports Stock Trading, Options Trading, Mutual Funds and Forex Trading. Looking at mutual funds, Ally Invest offers its clients access to 14000 different mutual funds while Interactive Brokers has 11000 available funds, a difference of 3,000.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Interactive Brokers has virtual trading, Ally Invest doesn't. Taking a look at mobile trading, Ally Invest along with Interactive Brokers both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Clients can have Checking Accounts and Debit Cards at Interactive Brokers while customers at Ally Invest can have 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 02/18/2019 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.