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Ally Invest vs Lightspeed 2020

Is Ally Invest better than Lightspeed? After testing 15 of the best online brokers over five months, Ally Invest (79.49%) is better than Lightspeed (61.3%). Ally Invest's universal-accounts experience and easy-to-use website is a winning combination for current Ally Bank customers.

Overall Rating

Feature Ally Invest Lightspeed
Overall 4 3
Commissions & Fees 4.5 2.5
Offering of Investments 4 3
Platforms & Tools 3 3
Mobile Trading 3.5 3
Research 3.5 2
Education 3.5 3
Ease of Use 5 3
Banking 4 0.5
Ally Invest Review Lightspeed Review
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Trading Fees

Feature Ally Invest Lightspeed
Minimum Deposit $0.00 $10,000.00
Stock Trade Fee (per trade) $0.00 $4.50
ETF Trade Fee $0.00 $4.50
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.50 $0.60
Mutual Fund Trade Fee $9.95 N/A
Broker Assisted Trades Fee $20.00 $25.00

Margin Rates

Feature Ally Invest Lightspeed
Under $24,999.99 7.75% 7.50%
$25,000.00 to $49,999.99 7.50% 7.50%
$50,000.00 to $99,999.99 6.75% 6.50%
$100,000.00 to $249,999.99 5.50% 6.50%
$250,000.00 to $499,999.99 4.50% 5.75%
$500,000.00 to $999,999.99 4.00% 5.25%
Above $1,000,000.00 3.25% 5.00%

Account Fees

Feature Ally Invest Lightspeed
IRA Annual Fee $0.00 $35.00
IRA Closure Fee $50.00 $95.00
Returned ACH Fee $30.00 $30.00
Returned Wire Fee $30.00 $30.00
Stock Certificate Processing Fee $300.00 $75.00
Stock Certificate Delivery Fee $300.00 $50.00
Paper Statement Fee $2.00 $5.00
Paper Confirmation Fee $1.00 $2.00
Domestic Wire Fee $30.00 $20.00
International Wire Fee N/A $50.00

Investment Options

Feature Ally Invest Lightspeed
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
No Yes
Forex Trading
Yes No
Crypto Trading No No
Mutual Funds (No Load)
11153 0
Mutual Funds (Total)
18352 0
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
Yes No
International Trading
No No

Order Types

Feature Ally Invest Lightspeed
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
No Yes
Order Type - Contingent
Yes Yes
Order Type - MultiContingent
No Yes
Order Type - OCO
No Yes
Order Type - OTO
No Yes
Order Type - OTOCO
No Yes

Trading Platforms

Feature Ally Invest Lightspeed
Desktop Platform (Windows)
No Yes
Desktop Platform (Mac)
No Yes
Web Platform
Yes Yes
Paper Trading
No Yes
Trade Journal
No No
Watch Lists - Total Fields
21 141
Heat Mapping
No No
AI Assistant Bot
No No

Charting Features

Feature Ally Invest Lightspeed
Charting - Trade Off Chart
No Yes
Charting - Indicators / Studies
117 20
Charting - Drawing Tools
36 8
Charting - Historical Trades
No Yes
Charting - Corporate Events
Yes No
Charting - Automated Analysis
Yes No
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
5 4
Charting - Custom Studies
No No

Day Trading

Feature Ally Invest Lightspeed
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
No No
Streaming Time & Sales
No Yes
Streaming TV
No No
Direct Market Routing - Stocks
No Yes
Direct Market Routing - Options
No Yes
Ladder Trading
No No
Trade Hot Keys
No Yes
Level 2 Quotes - Stocks
No Yes
Level 2 Quotes - Options
No Yes
Trade Ideas - Backtesting
Yes No
Short Locator
No Yes
Order Liquidity Rebates
No Yes

Mobile Trading Apps

Feature Ally Invest Lightspeed
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No No
Trading - Stocks
Yes Yes
Trading - After-Hours
No No
Trading - Conditional Orders
No No
Trading - Mutual Funds
No No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes No

Mobile App Features

Feature Ally Invest Lightspeed
Watch List Syncing
Yes No
Stock Alerts
No Yes
Charting - After Hours
No No
Charting - Drawing
No No
Charting - Study Customizations
No No
Heatmapping
No No
Stream Live TV
No No
Barcode Lookup
No No

Research Overview

Feature Ally Invest Lightspeed
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes No
Research - Fixed Income
No No
Screener - Stocks
No Yes
Screener - ETFs
Yes No
Screener - Mutual Funds
No No
Screener - Options
No No
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
No No

Stock Research

Feature Ally Invest Lightspeed
Stock Research - Reports
2 0
Stock Research - Earnings
Yes No
Stock Research - Insiders
Yes Yes
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
Yes No
Stock Research - Social
No Yes
Stock Research - Balance Sheet
Yes No
Stock Research - Cash Flows
Yes No
Stock Research - News
Yes Yes
Stock Research - ESG
No No

ETF Research

Feature Ally Invest Lightspeed
ETFs - Strategy Overview
Yes No
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
No No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes No
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
No No
ETFs - Reports
Yes No

Mutual Fund Research

Feature Ally Invest Lightspeed
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
No No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
Yes No
Mutual Funds - Asset Allocation
No No
Mutual Funds - Sector Allocation
Yes No
Mutual Funds - Country Allocation
No No
Mutual Funds - StyleMap
No No
Mutual Funds - 3rd Party Ratings
Yes No

Options Trading

Feature Ally Invest Lightspeed
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
8 60
Option Chains - Greeks
1 5
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes No
Option Probability Analysis Adv
No No
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes No
Option Positions - Rolling
No Yes
Option Positions - Grouping
Yes Yes

Beginners

Feature Ally Invest Lightspeed
Education (Stocks)
Yes Yes
Education (ETFs)
No No
Education (Options)
Yes Yes
Education (Mutual Funds)
Yes No
Education (Fixed Income)
Yes No
Education (Retirement)
Yes No
Paper Trading
No Yes
Videos
No Yes
Webinars (Monthly Avg)
15 1
Webinars (Archived)
Yes Yes
Live Seminars
No No
Progress Tracking
No No
Interactive Learning - Quizzes
No No

Banking

Feature Ally Invest Lightspeed
Retail Locations
0 0
Member FDIC
Yes No
Checking Accounts
Yes No
Savings Accounts
Yes No
Credit Cards
No No
Debit Cards
Yes No
Mortgage Loans
Yes No
No Fee Banking
Yes No

Overall

Feature Ally Invest Lightspeed
Overall 4 3
Commissions & Fees 4.5 2.5
Offering of Investments 4 3
Platforms & Tools 3 3
Mobile Trading 3.5 3
Research 3.5 2
Education 3.5 3
Ease of Use 5 3
Banking 4 0.5
Ally Invest Review Lightspeed Review
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Comparing brokers side by side is no easy task. For our 2020 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Ally Invest vs Lightspeed.

Is Ally Invest or Lightspeed better for beginners?
Ally Invest is better for beginner investors than Lightspeed. Ally Invest offers investors access to Education (Stocks), Education (Options), Education (Mutual Funds), Education (Fixed Income) and Education (Retirement).

What about Ally Invest vs Lightspeed pricing?
Lightspeed charges $4.50 per stock trade which is $4.50 more than Ally Invest which charges customers $0 per trade. With options, the base fee is $0 for both Ally Invest and Lightspeed. Ally Invest's per contract rate of $0.50 is less than Lightspeed which charges $0.60. For a complete commissions summary, see our best discount brokers guide.

Does Ally Invest or Lightspeed offer a wider range of investment options?
Ally Invest offers a more diverse selection of investment options than Lightspeed. Ally Invest offers investors access to Stock Trading, OTCBB / Pink Sheets, Options Trading, Mutual Funds, Forex Trading and Advisor Services. Looking at Mutual Funds, Ally Invest offers its clients access to 18352 different mutual funds while Lightspeed has 0 available funds, a difference of 18,352.

Which trading platform is better: Ally Invest or Lightspeed?
To compare the trading platforms of both Ally Invest and Lightspeed, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Lightspeed offers a better experience. With research, Ally Invest offers superior market research. Finally, we found Ally Invest 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. Checking Accounts, Savings Accounts, Debit Cards and Mortgage Loans are available to clients of Ally Invest while Lightspeed offers customers none of these.

Overall, between Ally Invest and Lightspeed, Ally Invest is the better online broker.

Ally Invest Review
Lightspeed Review

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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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