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tastytrade vs Ally Invest 2024

StockBrokers.com

Written by StockBrokers.com

January 31, 2024

Is tastytrade better than Ally Invest? After testing 18 of the best online brokers, our analysis finds that tastytrade (84.9%) is better than Ally Invest (84.6%). Tastytrade isn’t for every investor, but its platform is ideal for frequent options and futures traders, offering efficient workflow, useful risk management tools, killer design, and online content that make you feel like you’re on a trading desk.

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Compare

0 of 5
Overall Rating tastytrade Ally Invest
Overall 4/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4/5 Stars
Research 2.5/5 Stars 4/5 Stars
Customer Service 4.0/5 Stars 4/5 Stars
Education 4/5 Stars 4/5 Stars
Ease Of Use 4.5/5 Stars 4.5/5 Stars
Winner check_circle
Review tastytrade Review Ally Invest Review
Broker Screenshots tastytrade Ally Invest
Trading Platform & Tools Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Trading Fees tastytrade Ally Invest
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) info N/A $4.95
Mutual Fund Trade Fee N/A info $0.00
Options (Per Contract) $0.50 info $0.50
Futures (Per Contract) $1.25 (Not offered)
Broker Assisted Trade Fee $0 $20
Margin Rates tastytrade Ally Invest
Margin Rate Under $25,000 11% 13%
Margin Rate $25,000 to $49,999.99 10.5% 12.75%
Margin Rate $50,000 to $99,999.99 10% 12%
Margin Rate $100,000 to $249,999.99 9.5% 10.75%
Margin Rate $250,000 to $499,999.99 9% 9.75%
Margin Rate $500,000 to $999,999.99 8.5% 9.25%
Margin Rate Above $1,000,000 8% 8.5%
Account Fees tastytrade Ally Invest
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $60.00 $25.00
Account Transfer Out (Partial) info $75.00 $50.00
Account Transfer Out (Full) info $75.00 $50.00
Options Exercise Fee $5.00 $0.00
Options Assignment Fee $5.00 $0.00
Investment Options tastytrade Ally Invest
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info Yes info No
OTC Stocks info No Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 4
Futures Trading info Yes No
Forex Trading info No No
Crypto Trading info Yes No
Crypto Trading - Total Coins info 8 0
Mutual Funds (No Load) info 0 13000
Mutual Funds (Total) info 0 14000
Bonds (US Treasury) info No info Yes
Bonds (Corporate) info No Yes
Bonds (Municipal) info No Yes
Traditional IRAs info Yes Yes
Roth IRAs info Yes Yes
Advisor Services info No Yes
International Countries (Stocks) info 0 0
Order Types tastytrade Ally Invest
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info No No
Order Type - OCO info Yes No
Order Type - OTO info Yes No
Order Type - Broker Assisted info Yes Yes
Beginners tastytrade Ally Invest
Education (Stocks) info Yes Yes
Education (ETFs) info Yes Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info No Yes
Education (Bonds) info No Yes
Education (Retirement) info No Yes
Retirement Calculator info No No
Investor Dictionary info Yes Yes
Paper Trading info No No
Videos info No No
Webinars info Yes No
Webinars (Archived) info Yes Yes
Progress Tracking info No No
Interactive Learning - Quizzes info No No
Stock Trading Apps tastytrade Ally Invest
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes Yes
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes Yes
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes No
Stock App Features tastytrade Ally Invest
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No No
Videos on Demand info No No
Stock Alerts info No No
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes No
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info Yes No
Watch Lists - Total Fields info 33 10
Stock App Charting tastytrade Ally Invest
Charting - After-Hours info Yes No
Charting - Can Turn Horizontally info Yes No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 0 0
Charting - Study Customizations info No No
Charting - Stock Comparisons info No No
Trading Platforms tastytrade Ally Invest
Active Trading Platform info tastytrade N/A
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info Yes No
Web Trading Platform info Yes Yes
Paper Trading info No No
Trade Journal info No No
Watch Lists - Total Fields info 33 10
Stock Chart Features tastytrade Ally Invest
Charting - Adjust Trades on Chart info Yes No
Charting - Indicators / Studies info 308 120
Charting - Drawing Tools info 31 36
Charting - Notes info Yes Yes
Charting - Index Overlays info Yes Yes
Charting - Historical Trades info Yes No
Charting - Corporate Events info Yes No
Charting - Custom Date Range info No No
Charting - Custom Time Bars info No No
Charting - Automated Analysis info No Yes
Charting - Save Profiles info Yes Yes
Trade Ideas - Technical Analysis info No Yes
Charting - Study Customizations info 7 8
Charting - Custom Studies info Yes No
Day Trading tastytrade Ally Invest
Streaming Time & Sales info No No
Streaming TV info Yes No
Direct Market Routing - Stocks info No No
Ladder Trading info Yes No
Trade Hot Keys info No No
Level 2 Quotes - Stocks info No No
Trade Ideas - Backtesting info No No
Trade Ideas - Backtesting Adv info No No
Short Locator info Yes No
Order Liquidity Rebates info No No
Research Overview tastytrade Ally Invest
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info No Yes
Research - Pink Sheets / OTCBB info No Yes
Research - Bonds info No Yes
Screener - Stocks info No Yes
Screener - ETFs info No Yes
Screener - Mutual Funds info No No
Screener - Bonds info No Yes
Misc - Portfolio Allocation info Yes Yes
Stock Research tastytrade Ally Invest
Stock Research - PDF Reports info 0 0
Stock Research - Earnings info No No
Stock Research - Insiders info No Yes
Stock Research - Social info No Yes
Stock Research - News info Yes Yes
Stock Research - ESG info No No
Stock Research - SEC Filings info No No
ETF Research tastytrade Ally Invest
ETFs - Strategy Overview info No Yes
ETF Fund Facts - Inception Date info No No
ETF Fund Facts - Expense Ratio info No Yes
ETF Fund Facts - Net Assets info No Yes
ETF Fund Facts - Total Holdings info No No
ETFs - Top 10 Holdings info No Yes
ETFs - Sector Exposure info No No
ETFs - Risk Analysis info Yes No
ETFs - Ratings info No Yes
ETFs - Morningstar StyleMap info No No
ETFs - PDF Reports info No No
Mutual Fund Research tastytrade Ally Invest
Mutual Funds - Strategy Overview info No Yes
Mutual Funds - Performance Chart info No Yes
Mutual Funds - Performance Analysis info No No
Mutual Funds - Prospectus info No No
Mutual Funds - 3rd Party Ratings info No Yes
Mutual Funds - Fees Breakdown info No No
Mutual Funds - Top 10 Holdings info No Yes
Mutual Funds - Asset Allocation info No No
Mutual Funds - Sector Allocation info No Yes
Mutual Funds - Country Allocation info No No
Mutual Funds - StyleMap info No No
Options Trading tastytrade Ally Invest
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes Yes
Option Chains - Streaming info Yes Yes
Option Chains - Total Columns info 20 8
Option Chains - Greeks info 5 5
Option Chains - Quick Analysis info Yes Yes
Option Analysis - P&L Charts info Yes No
Option Probability Analysis info Yes Yes
Option Probability Analysis Adv info Yes No
Option Positions - Greeks info Yes Yes
Option Positions - Greeks Streaming info Yes No
Option Positions - Adv Analysis info Yes No
Option Positions - Rolling info Yes No
Option Positions - Grouping info Yes Yes
Banking tastytrade Ally Invest
Bank (Member FDIC) info No Yes
Checking Accounts info No Yes
Savings Accounts info No Yes
Credit Cards info No Yes
Debit Cards info No Yes
Mortgage Loans info No Yes
Customer Service tastytrade Ally Invest
Phone Support (Prospect Customers) info Yes Yes
Phone Support (Current Customers) info Yes Yes
Email Support info Yes Yes
Live Chat (Prospect Customers) info Yes No
Live Chat (Current Customers) info Yes Yes
24/7 Support info No Yes
Overall tastytrade Ally Invest
Overall 4/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4/5 Stars 4.5/5 Stars
Platforms & Tools 4.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4/5 Stars
Research 2.5/5 Stars 4/5 Stars
Education 4/5 Stars 4/5 Stars
Ease Of Use 4.5/5 Stars 4.5/5 Stars
Winner check_circle
Review tastytrade Review Ally Invest Review
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tastytrade vs Ally Invest Comparison

Comparing brokers side by side is no easy task. We spend hundreds of hours each year testing the platforms, mobile apps, trading tools and general ease of use among online brokerages, as well as comparing commissions and fees, to find the best online broker.

Though many U.S. brokers offer basic trading features, such as an app, charting tools, stock research and educational content, the depth of those features can vary widely. Let's compare tastytrade vs Ally Invest.

Is tastytrade or Ally Invest better for beginners?

In stock trading, the more you know, the better you’ll do. Taking advantage of resources like articles, webinars, videos and interactive elements is a great way to shorten the learning curve. In our analysis, we examine the availability of several different types of educational materials.

For 2024, our review finds that tastytrade offers more comprehensive new investor education for beginning investors than Ally Invest. tastytrade offers investors access to Education (Stocks), Education (ETFs) and Education (Options), while Ally Invest offers investors access to Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement). Neither have Paper Trading and Videos.

What about tastytrade vs Ally Invest pricing?

tastytrade and Ally Invest charge the same amount for regular stock trades, $0.00. tastytrade and Ally Invest both charge $0.50 per option contract. For futures, tastytrade charges $1.25 per contract and Ally Invest charges (Not offered) per contract. For a deeper dive, see our best brokers for free stock trading or options trading guides

Does tastytrade or Ally Invest offer a wider range of investment options?

Looking at a full range of investment options, including order types and international trading, our research has found that Ally Invest offers a more comprehensive offering than tastytrade. tastytrade ranks #11 out of 18 brokers for our Investment Options category, while Ally Invest ranks #8.

tastytrade offers investors access to Stock Trading, Fractional Shares, Options Trading and Futures Trading, while Ally Invest offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Advisor Services. Neither have Forex Trading Looking at Mutual Funds, tastytrade trails Ally Invest in its offering of no transaction fee (NTF) mutual funds, with Ally Invest offering 3900 and tastytrade offering 0.

Do tastytrade and Ally Invest offer cryptocurrency?

In our analysis of top U.S. brokerages, we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum. Though crypto has risen steadily in popularity, availability still varies from broker to broker. Our review finds that neither tastytrade or Ally Invest offer crypto trading.

Which trading platform is better: tastytrade or Ally Invest?

To compare the day trading platforms of tastytrade and Ally Invest, we focused on trading tools and functionality across both web and desktop-based platforms. Popular day trading platform tools include streaming real-time quotes, stock alerts, trading hotkeys, direct market routing, streaming time and sales, customizable watch lists, backtesting, and fully functional charting packages, among many others. For day trading, tastytrade offers a better experience.

Does tastytrade or Ally Invest offer a better stock trading app?

After testing 25 features across the stock trading apps of tastytrade and Ally Invest, we found tastytrade to be better overall. The best stock market apps are easy to use, have excellent design, and deliver a fully featured online trading experience. tastytrade ranks #10 out of 18 brokers, while Ally Invest ranks #13.

tastytrade Trading App Gallery

Ally Invest Trading App Gallery

Which broker is better for researching stocks?

For research, Ally Invest offers superior market research than tastytrade. tastytrade ranks #13 and Ally Invest ranks #7.

Over the years, we've found that the best brokers provide rich market commentary, a variety of third-party research reports, and thorough quote screens that are not just easy to navigate, but that also include a comprehensive selection of fundamental data. Robust stock, ETFs, and mutual fund screeners are also must-haves for trade idea generation.

How do tastytrade and Ally Invest compare in terms of minimum deposit required?

tastytrade requires a minimum deposit of $0.00, while Ally Invest requires a minimum deposit of $0.00. From our testing, we found that SoFi is the only broker that requires a minimum deposit.

Which broker offers better margin rates for accounts under $25,000?

tastytrade charges 11% for accounts under $25,000 while Ally Invest charges a margin rate of 13%. The industry average of the 18 brokers we track is 9%.

Does tastytrade offer fractional shares? Does Ally Invest?

Fractional shares are not offered by either broker. Our research has found that 46% of brokers offer fractional shares investing. Fractional shares allow traders to buy a part of a whole share of stock. For example, if Amazon is trading at $1,000, you could buy half a share for $500.

Can you trade penny stocks with tastytrade or Ally Invest?

Neither tastytrade nor Ally Invest allow you to trade penny stocks. Penny stocks are companies whose shares trade for under $5 and are listed over the counter (OTC). For brokers that do offer penny stock trades, the average commission is $3.

Does either broker offer banking?

Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. neither of these are offered by tastytrade while Ally Invest offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.

Which broker offers stronger customer service?

StockBrokers.com partners with customer experience research group Confero to conduct phone tests from locations across the United States to thoroughly evaluate the quality and speed of brokerage customer service. (Read more about How We Test.) Here are the results of our current testing.

Tastytrade was rated 10th out of 13 brokers, with an overall score of 7.37 out of 10.

Ally Invest was rated 4th out of 13 brokers, with an overall score of 8.69 out of 10.

Is tastytrade good?

Tastytrade isn’t for every investor, but its platform is ideal for frequent options and futures traders, offering efficient workflow, useful risk management tools, killer design, and online content that make you feel like you’re on a trading desk.

In the 2024 StockBrokers.com Annual Awards, tastytrade placed No. 1 for Options Trading, Futures Trading, Desktop Options Trading Platform, and Desktop Futures Trading Platform. It placed among Best in Class for Commissions & Fees, Investor Community, and Day Trading.

Is Ally Invest good?

For current Ally customers looking to invest in stocks, Ally's universal-accounts experience and easy-to-use website offer a convenient solution. Its website is far stronger than the mobile app.

In the 2024 StockBrokers.com Annual Awards, Ally Invest ranked among Best in Class for Bank Brokerage and Customer Service.

tastytrade vs Ally Invest Winner

Overall winner: tastytrade

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