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 charge the same amount for regular stock trades, $0. With options, the base fee is $0 for both Ally Invest and Robinhood. Option contracts are pricier at Ally Invest, costing $0.50 versus $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 offers clients Stock Trading and Options Trading while Ally Invest offers Stock Trading, Options Trading, Mutual Funds and Forex Trading. When it comes to mutual funds, Robinhood trails Ally Invest by 14,000 total mutual funds, with Ally Invest offering 14000 and Robinhood offering 0.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Ally Invest nor Robinhood offers virtual trading. For mobile trading, Ally Invest along with Robinhood both support the 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