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 Robinhood. Is Ally Invest or Robinhood a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Ally Invest and Robinhood have equal fees for trading stocks (equities), $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Each option contract then costs $0.50 at Ally Invest and $0 at Robinhood. 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. Robinhood provides its clients with Stock Trading and Options Trading while Ally Invest provides clients access to Stock Trading, Options Trading, Mutual Funds and Forex Trading. When it comes to mutual funds, Ally Invest offers its clients access to 18728 different mutual funds while Robinhood has 0 available funds, a difference of 18,728.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Neither Ally Invest and Robinhood offer virtual trading. For mobile trading, Ally Invest and Robinhood 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, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to clients of Ally Invest while Robinhood offers customers none of these.
Overall, between Ally Invest and Robinhood, Ally Invest is the winner.
Ally Invest Review