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Ally Invest vs TradeStation 2023

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Written by StockBrokers.com

February 23, 2023

Is Ally Invest better than TradeStation? After testing 17 of the best online brokers over three months, Ally Invest (84.59%) is better than TradeStation (78.24%). 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.

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Overall RatingAlly InvestTradeStation
Overall 4/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 3.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 4/5 Stars 4.5/5 Stars
Research 4/5 Stars 3/5 Stars
Customer Service 4/5 Stars 3.5/5 Stars
Education 4/5 Stars 3.5/5 Stars
Ease Of Use 4.5/5 Stars 3/5 Stars
Winner check_circle
Review Ally Invest Review TradeStation Review
Trading FeesAlly InvestTradeStation
Minimum Deposit $0.00 $0.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) $4.95 $0.00
Mutual Fund Trade Fee $0.00 $14.95
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.50 $0.60
Futures (Per Contract) N/A $1.50
Broker Assisted Trade Fee $20 $0
Margin RatesAlly InvestTradeStation
Margin Rate Under $25,000 10.75% 11.00%
Margin Rate $25,000 to $49,999.99 10.50% 11.00%
Margin Rate $50,000 to $99,999.99 9.75% 10.00%
Margin Rate $100,000 to $249,999.99 8.50% 10.00%
Margin Rate $250,000 to $499,999.99 7.50% 10.00%
Margin Rate $500,000 to $999,999.99 7.00% 5.50%
Margin Rate Above $1,000,000 6.25% 5.50%
Account FeesAlly InvestTradeStation
IRA Annual Fee $0.00 $35.00
IRA Closure Fee $25.00 $50.00
Account Transfer Out (Partial) $50.00 $125.00
Account Transfer Out (Full) $50.00 $125.00
Options Exercise Fee $0.00 $14.95
Options Assignment Fee $0.00 $5.95
Investment OptionsAlly InvestTradeStation
Stock Trading Yes Yes
Margin Trading Yes Yes
Fractional Shares No No
OTC Stocks Yes Yes
Options Trading Yes Yes
Complex Options Max Legs 4 4
Futures Trading No Yes
Forex Trading Yes No
Crypto Trading No Yes
Crypto Trading - Total Coins 0 11
Mutual Funds (No Load) 13500 800
Mutual Funds (Total) 15000 4000
Bonds (US Treasury) Yes Yes
Bonds (Corporate) Yes Yes
Bonds (Municipal) Yes Yes
Advisor Services Yes No
International Countries (Stocks) 0 0
Order TypesAlly InvestTradeStation
Order Type - Market Yes Yes
Order Type - Limit Yes Yes
Order Type - After Hours Yes Yes
Order Type - Stop Yes Yes
Order Type - Trailing Stop No Yes
Order Type - OCO No Yes
Order Type - OTO No Yes
Order Type - Broker Assisted Yes Yes
BeginnersAlly InvestTradeStation
Education (Stocks) Yes Yes
Education (ETFs) Yes No
Education (Options) Yes Yes
Education (Mutual Funds) Yes No
Education (Bonds) Yes No
Education (Retirement) Yes No
Retirement Calculator No No
Investor Dictionary Yes No
Paper Trading No Yes
Videos No Yes
Webinars No Yes
Webinars (Archived) Yes No
Progress Tracking No No
Interactive Learning - Quizzes No No
Stock Trading AppsAlly InvestTradeStation
iPhone App Yes Yes
Android App Yes Yes
Apple Watch App No Yes
Trading - Stocks Yes Yes
Trading - After-Hours Yes Yes
Trading - Simple Options Yes Yes
Trading - Complex Options Yes Yes
Order Ticket RT Quotes Yes Yes
Order Ticket SRT Quotes No Yes
Stock App FeaturesAlly InvestTradeStation
Market Movers (Top Gainers) Yes Yes
Stream Live TV No No
Videos on Demand No No
Stock Alerts No Yes
Option Chains Viewable Yes Yes
Watch List (Real-time) Yes Yes
Watch List (Streaming) No Yes
Watch Lists - Create & Manage Yes Yes
Watch Lists - Column Customization No Yes
Watch Lists - Total Fields 21 335
Stock App ChartingAlly InvestTradeStation
Charting - After-Hours No Yes
Charting - Can Turn Horizontally Yes Yes
Charting - Multiple Time Frames Yes Yes
Charting - Technical Studies 17 45
Charting - Study Customizations No Yes
Charting - Stock Comparisons Yes No
Trading PlatformsAlly InvestTradeStation
Active Trading Platform N/A TradeStation 10
Desktop Trading Platform No Yes
Desktop Platform (Mac) No No
Web Trading Platform Yes Yes
Paper Trading No Yes
Trade Journal No No
Watch Lists - Total Fields 21 335
Stock Chart FeaturesAlly InvestTradeStation
Charting - Adjust Trades on Chart No Yes
Charting - Indicators / Studies 117 290
Charting - Drawing Tools 36 23
Charting - Notes Yes Yes
Charting - Index Overlays Yes Yes
Charting - Historical Trades No Yes
Charting - Corporate Events No Yes
Charting - Custom Date Range No Yes
Charting - Custom Time Bars No Yes
Charting - Automated Analysis Yes Yes
Charting - Save Profiles Yes Yes
Trade Ideas - Technical Analysis Yes Yes
Charting - Study Customizations 5 12
Charting - Custom Studies No Yes
Day TradingAlly InvestTradeStation
Streaming Time & Sales No Yes
Streaming TV No No
Direct Market Routing - Stocks No Yes
Ladder Trading No Yes
Trade Hot Keys No Yes
Level 2 Quotes - Stocks No Yes
Trade Ideas - Backtesting No Yes
Trade Ideas - Backtesting Adv No Yes
Short Locator No Yes
Order Liquidity Rebates No Yes
Research OverviewAlly InvestTradeStation
Research - Stocks Yes Yes
Research - ETFs Yes Yes
Research - Mutual Funds Yes No
Research - Pink Sheets / OTCBB Yes Yes
Research - Bonds No No
Screener - Stocks No Yes
Screener - ETFs Yes No
Screener - Mutual Funds No No
Screener - Bonds Yes No
Misc - Portfolio Allocation No Yes
Stock ResearchAlly InvestTradeStation
Stock Research - PDF Reports 2 0
Stock Research - Earnings Yes No
Stock Research - Insiders Yes No
Stock Research - Social Yes No
Stock Research - News Yes Yes
Stock Research - ESG No No
Stock Research - SEC Filings Yes No
ETF ResearchAlly InvestTradeStation
ETFs - Strategy Overview Yes No
ETF Fund Facts - Inception Date Yes No
ETF Fund Facts - Expense Ratio Yes No
ETF Fund Facts - Net Assets Yes No
ETF Fund Facts - Total Holdings Yes No
ETFs - Top 10 Holdings Yes No
ETFs - Sector Exposure No No
ETFs - Risk Analysis Yes No
ETFs - Ratings Yes No
ETFs - Morningstar StyleMap No No
ETFs - PDF Reports Yes No
Mutual Fund ResearchAlly InvestTradeStation
Mutual Funds - Strategy Overview Yes No
Mutual Funds - Performance Chart Yes No
Mutual Funds - Performance Analysis Yes No
Mutual Funds - Prospectus No No
Mutual Funds - 3rd Party Ratings Yes No
Mutual Funds - Fees Breakdown Yes No
Mutual Funds - Top 10 Holdings Yes No
Mutual Funds - Asset Allocation No No
Mutual Funds - Sector Allocation Yes No
Mutual Funds - Country Allocation No No
Mutual Funds - StyleMap No No
Options TradingAlly InvestTradeStation
Option Chains - Basic View Yes Yes
Option Chains - Strategy View Yes Yes
Option Chains - Streaming Yes Yes
Option Chains - Total Columns 8 32
Option Chains - Greeks 1 5
Option Chains - Quick Analysis Yes Yes
Option Analysis - P&L Charts Yes Yes
Option Probability Analysis Yes Yes
Option Probability Analysis Adv No Yes
Option Positions - Greeks Yes Yes
Option Positions - Greeks Streaming No Yes
Option Positions - Adv Analysis Yes Yes
Option Positions - Rolling Yes Yes
Option Positions - Grouping Yes Yes
BankingAlly InvestTradeStation
Bank (Member FDIC) Yes No
Checking Accounts Yes No
Savings Accounts Yes No
Credit Cards No No
Debit Cards Yes No
Mortgage Loans Yes No
Customer ServiceAlly InvestTradeStation
Phone Support (Prospect Customers) Yes Yes
Phone Support (Current Customers) Yes No
Email Support Yes Yes
Live Chat (Prospect Customers) Yes Yes
Live Chat (Current Customers) Yes Yes
24/7 Support Yes No
OverallAlly InvestTradeStation
Overall 4/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 3.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 4/5 Stars 4.5/5 Stars
Research 4/5 Stars 3/5 Stars
Education 4/5 Stars 3.5/5 Stars
Ease Of Use 4.5/5 Stars 3/5 Stars
Winner check_circle
Review Ally Invest Review TradeStation Review
  • check_box_outline_blankcheck_boxAlly Invest
  • check_box_outline_blankcheck_boxCharles Schwab
  • check_box_outline_blankcheck_boxE*TRADE
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFidelity
  • check_box_outline_blankcheck_boxFirstrade
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxJ.P. Morgan Self-Directed Investing
  • check_box_outline_blankcheck_boxMerrill Edge
  • check_box_outline_blankcheck_boxRobinhood
  • check_box_outline_blankcheck_boxSofi Invest
  • check_box_outline_blankcheck_boxtastytrade
  • check_box_outline_blankcheck_boxTD Ameritrade
  • check_box_outline_blankcheck_boxTradeStation
  • check_box_outline_blankcheck_boxTradier
  • check_box_outline_blankcheck_boxVanguard
  • check_box_outline_blankcheck_boxWebull

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Ally Invest vs TradeStation Comparison

Comparing brokers side by side is no easy task. For our 2023 annual broker review, we spent hundreds of hours assessing 17 brokerages to find the best online broker. Let's compare Ally Invest vs TradeStation.

Is Ally Invest or TradeStation better for beginners?

Ally Invest offers more comprehensive new investor education for beginner investors than TradeStation. Ally Invest offers investors access to Education (Stocks), Education (ETFs), Education (Options), Education (Mutual Funds), Education (Bonds) and Education (Retirement), while TradeStation offers investors access to Paper Trading, Videos, Education (Stocks) and Education (Options).

What about Ally Invest vs TradeStation pricing?

Ally Invest and TradeStation charge the same amount for regular stock trades, $0.00. Option contracts are pricier at TradeStation, costing $0.60 per contract versus $0.50 per contract at Ally Invest. For a complete commissions summary, see our best brokers for free stock trading guide.

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

Ally Invest offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds, Forex Trading and Advisor Services, while TradeStation offers investors access to Stock Trading, Options Trading, OTC Stocks, Mutual Funds and Futures Trading. Neither have Fractional Shares. Looking at Mutual Funds, TradeStation trails Ally Invest in its offering of no transaction fee (NTF) mutual funds, with Ally Invest offering 4000 and TradeStation offering 0.

Which trading platform is better: Ally Invest or TradeStation?

To compare the trading platforms of Ally Invest and TradeStation, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TradeStation offers a better experience. With research, Ally Invest offers superior market research. Finally, we found TradeStation to provide better mobile trading apps.

Does either broker offer banking?

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

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.

Is TradeStation good?

TradeStation supports casual traders through its web-based platform and active traders through its desktop platform. We like the web-based platform and mobile app, but the flagship desktop platform could use a refresh. TradeStation ranked among Best in Class in the Commissions and Fees and Investment Options categories in our 2023 Annual Review of online stockbrokers.

Ally Invest vs TradeStation Winner

Overall winner: Ally Invest

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