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%).
|
|
|
|
Exclusive Offer
New clients that open an account today receive a special margin rate Open Account
|
||
| Open Account |
| Feature | Interactive Brokers | Ally Invest |
| Overall | ||
| Interactive Brokers Review | Ally Invest Review |
| 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 | $0.70 | $0.50 |
| Mutual Fund Trade Fee | $14.95 | $9.95 |
| Broker Assisted Trades Fee | $30.00 | $20.00 |
| Commissions & Fees | ||
| Winner | check_circle |
| Feature |
Interactive Brokers
Open Account |
Ally Invest |
| Under $24,999.99 | 3.68% | 9.75% |
| $25,000.00 to $49,999.99 | 3.68% | 9.50% |
| $50,000.00 to $99,999.99 | 3.68% | 8.75% |
| $100,000.00 to $249,999.99 | 3.18% | 7.50% |
| $250,000.00 to $499,999.99 | 3.18% | 6.50% |
| $500,000.00 to $999,999.99 | 3.18% | 6.00% |
| Above $1,000,000.00 | 2.68% | 5.25% |
| Commissions & Fees | ||
| Winner | check_circle |
| 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 |
| Feature | Interactive Brokers | Ally Invest |
|
Stock Trading |
Yes | Yes |
|
OTCBB / Pink Sheets |
Yes | Yes |
|
Options Trading |
Yes | Yes |
|
Complex Options Max Legs |
4 | 4 |
|
Futures Trading |
Yes | No |
|
Forex Trading |
No | Yes |
| Commission-Free ETFs | 48 | all |
|
Mutual Funds (No Load) |
7558 | 7200 |
|
Mutual Funds (Total) |
11000 | 14000 |
|
Bonds (US Treasury) |
Yes | Yes |
|
Bonds (Corporate) |
Yes | Yes |
|
Bonds (Municipal) |
Yes | Yes |
|
Advisor Services |
No | Yes |
|
International Trading |
Yes | No |
| Offering of Investments | ||
| Winner | check_circle |
| 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 | ||
| Winner | check_circle |
| 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 |
453 | 21 |
|
Two-Factor Authentication Login |
Yes | Yes |
|
Heat Mapping |
Yes | No |
| Platforms & Tools | ||
| Winner | check_circle |
| 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 | ||
| Winner | check_circle |
| 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 | No |
|
Short Locator |
Yes | No |
|
Client Liquidity Rebates |
Yes | No |
| Winner | check_circle |
| 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 |
| Winner | check_circle |
| Feature | Interactive Brokers | Ally Invest |
|
Watch List Syncing |
Yes | Yes |
|
Stock Alerts - Basic Fields |
Yes | No |
|
Charting - After Hours |
Yes | No |
|
Charting - Drawing |
No | No |
|
Charting - Study Customizations |
Yes | No |
|
Customizable Homescreen |
No | No |
|
Heatmapping |
No | No |
|
Stream Live TV |
Yes | No |
|
Barcode Lookup |
No | No |
| Mobile Trading | ||
| Winner | check_circle |
| Feature | Interactive Brokers | Ally Invest |
|
Research - Stocks |
Yes | Yes |
|
Research - ETFs |
Yes | Yes |
|
Research - Mutual Funds |
No | 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 | No |
|
Misc - Portfolio Builder |
Yes | Yes |
|
Misc - Portfolio Allocation |
Yes | No |
| Research | ||
| Winner | check_circle |
| Feature | Interactive Brokers | Ally Invest |
|
Stock Research - Reports |
1 | 2 |
|
Stock Research - Earnings |
Yes | No |
|
Stock Research - Insiders |
Yes | No |
|
Stock Research - Metric Comp |
Yes | No |
|
Stock Research - SEC Filings |
Yes | No |
|
Stock Research - Social |
Yes | No |
|
Stock Research - Balance Sheet |
Yes | No |
|
Stock Research - Cash Flows |
Yes | No |
|
Stock Research - News |
Yes | Yes |
|
Stock Research - ESG |
Yes | No |
| Research | ||
| Winner | check_circle |
| 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 | ||
| Winner | check_circle |
| Feature | Interactive Brokers | Ally Invest |
|
Mutual Funds - Strategy Overview |
No | Yes |
|
Mutual Funds - Prospectus |
Yes | No |
|
Mutual Funds - Reports |
Yes | No |
|
Mutual Funds - Fees Breakdown |
Yes | Yes |
|
Mutual Funds - Top 10 Holdings |
No | No |
|
Mutual Funds - Asset Allocation |
No | No |
|
Mutual Funds - Sector Allocation |
No | Yes |
|
Mutual Funds - Country Allocation |
No | No |
|
Mutual Funds - StyleMap |
No | No |
|
Mutual Funds - 3rd Party Ratings |
No | Yes |
| Research | ||
| Winner | check_circle |
| 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 | Yes |
|
Option Positions - Greeks |
Yes | Yes |
|
Option Positions - Adv Analysis |
Yes | Yes |
|
Option Positions - Rolling |
Yes | No |
|
Option Positions - Grouping |
Yes | Yes |
| Platforms & Tools | ||
| Winner | check_circle |
| Feature | Interactive Brokers | Ally Invest |
|
Has Education - Stocks |
Yes | Yes |
|
Has Education - ETFs |
No | No |
|
Has Education - Options |
Yes | Yes |
|
Has Education - Mutual Funds |
No | Yes |
|
Has Education - Fixed Income |
No | Yes |
|
Has Education - Retirement |
No | Yes |
|
Paper Trading |
Yes | No |
|
Videos |
Yes | No |
|
Webinars (Monthly Avg) |
20 | 17 |
|
Webinars (Archived) |
Yes | No |
|
Live Seminars |
No | Yes |
|
Progress Tracking |
Yes | No |
|
Interactive Learning - Quizzes |
Yes | No |
|
Investor Magazine |
Yes | No |
| Education | ||
| Winner | check_circle |
| Feature | Interactive Brokers | Ally Invest |
|
Retail Locations |
0 | 0 |
|
Member FDIC |
No | Yes |
|
Checking Accounts |
Yes | Yes |
|
Savings Accounts |
No | Yes |
|
Credit Cards |
No | Yes |
|
Debit Cards |
Yes | Yes |
|
Mortgage Loans |
No | Yes |
|
No Fee Banking |
No | Yes |
| Banking | ||
| Winner | check_circle |
| Feature | Interactive Brokers | Ally Invest |
| Interactive Brokers Review | Ally Invest Review | |
| Overall | ||
| Winner | check_circle |
Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare Ally Invest vs Interactive Brokers.
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 and Interactive Brokers charge the same amount for regular stock trades, $0. With options, the base fee is $0 for both Ally Invest and Interactive Brokers. Ally Invest's per contract rate of $0.50 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 provides its clients with Stock Trading, Options Trading, Mutual Funds and Futures Trading while Ally Invest provides clients access to Stock Trading, Options Trading, Mutual Funds and Forex Trading. Looking at mutual funds, Interactive Brokers trails Ally Invest by 3,000 total mutual funds, with Ally Invest offering 14000 and Interactive Brokers offering 11000.
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. 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.
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.
