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 SpeedTrader. Is Ally Invest or SpeedTrader a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. SpeedTrader charges more than Ally Invest for placing regular stock trades ($4.49 and $0, respectively). Looking at options, the base fees charged are the same for both brokers, $0. SpeedTrader's per contract rate of $0 is less than Ally Invest which charges $0.50. 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. SpeedTrader supports Stock Trading and Options Trading while Ally Invest supports Stock Trading, Options Trading, Mutual Funds and Forex Trading. When it comes to mutual funds, SpeedTrader trails Ally Invest by 14,000 total mutual funds, with Ally Invest offering 14000 and SpeedTrader 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. SpeedTrader makes virtual trading available to clients, while Ally Invest does not. For mobile trading, SpeedTrader offers the iPhone App and Android App while Ally Invest offers 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 SpeedTrader offers customers none of these.
Overall, between Ally Invest and SpeedTrader, Ally Invest is the winner.
Ally Invest Review