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 $4.49 per stock trade which is $4.49 more than Ally Invest which charges customers $0 per trade. For options trading, both Ally Invest and SpeedTrader charge the same base fee of $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 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 boasts an offering of 18728 mutual funds compared to SpeedTrader's 0 available funds.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. SpeedTrader has virtual trading, Ally Invest doesn't. 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 offered by Ally Invest while SpeedTrader offers none of these.
Overall, between Ally Invest and SpeedTrader, Ally Invest is the winner.
Ally Invest Review