The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers
. This review compares Ally Invest vs Interactive Brokers. Is Ally Invest or Interactive Brokers a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. 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). With options, the base fees charged are $4.95 (Ally Invest) and $0 (Interactive Brokers). Ally Invest's per contract rate of $0.65 is less than Interactive Brokers which charges $0.70. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. 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. When it comes to mutual funds, Interactive Brokers trails Ally Invest by 3,000 total mutual funds, with Ally Invest offering 14000 and Interactive Brokers offering 11000. Commission free ETFs can also be a nice plus, Ally Invest offers 116 commission free ETFs versus Interactive Brokers's total of 48.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Interactive Brokers makes virtual trading available to clients, while Ally Invest does not. For mobile trading, Ally Invest and Interactive Brokers both have a iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. 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. On the whole, when it comes to tools, research, and mobile trading, Interactive Brokers finished with awards Best in Class - Mobile Trading, while Ally Invest came up with none of these.
Overall, Interactive Brokers takes the upper hand with 4.50 stars over Ally Invest's 3.50 stars.