Interactive Brokers 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 Interactive Brokers vs Ally Invest.
Is Interactive Brokers or Ally Invest better for beginners?
Interactive Brokers offers more comprehensive new investor education for beginner investors than Ally Invest. Interactive Brokers offers investors access to Paper Trading, Videos, Education (Stocks), Education (ETFs), Education (Options), Education (Bonds) and Education (Retirement), while Ally Invest offers investors access to Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement).
What about Interactive Brokers vs Ally Invest pricing?
Interactive Brokers and Ally Invest charge the same amount for regular stock trades, $0.00. Option contracts are pricier at Interactive Brokers, costing $0.65 per contract versus $0.50 per contract at Ally Invest. For a complete commissions summary, see our best brokers for free stock trading guide.
Does Interactive Brokers or Ally Invest offer a wider range of investment options?
Interactive Brokers offers investors access to Stock Trading, Fractional Shares, Options Trading, OTCBB / Pink Sheets, Mutual Funds and Futures Trading, while Ally Invest offers investors access to Stock Trading, Options Trading, OTCBB / Pink Sheets, Mutual Funds, Forex Trading and Advisor Services. Looking at Mutual Funds, Ally Invest trails Interactive Brokers in its offering of no transaction fee (NTF) mutual funds, with Interactive Brokers offering 4329 and Ally Invest offering 4000.
Which trading platform is better: Interactive Brokers or Ally Invest?
To compare the trading platforms of Interactive Brokers and Ally Invest, 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. Debit Cards are offered by Interactive Brokers while Ally Invest offers Checking Accounts, Savings Accounts, Debit Cards and Mortgage Loans, neither have Credit Cards.
Is Interactive Brokers good?
Interactive Brokers is a go-to choice for professionals because of its institutional-grade desktop trading platform, high-quality trade executions and rock-bottom margin rates.
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.
Interactive Brokers vs Ally Invest Winner
Overall winner: Interactive Brokers
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