The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.
Is TradeStation better than Ally Invest? After scoring brokers in nine separate categories for our 2019 review, TradeStation (71.75%) is better than Ally Invest (62.44%).
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Promo Offer
Commission-Free Trades on Stocks, ETFs & Options Trades Open Account
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| Open Account |
| Feature | TradeStation | Ally Invest |
| Overall | ||
| TradeStation Review | Ally Invest Review |
| Feature | TradeStation | Ally Invest |
| Minimum Deposit | $500.00 | $0.00 |
| Stock Trade Fee (per trade) | $0.00 | $0.00 |
| ETF Trade Fee | $0.00 | $0.00 |
| Options Base Fee | $0.00 | $0.00 |
| Options Per Contract Fee | $0.50 | $0.50 |
| Mutual Fund Trade Fee | $14.95 | $9.95 |
| Broker Assisted Trades Fee | $50.00 | $20.00 |
| Commissions & Fees | ||
| Winner | check_circle |
| Feature |
TradeStation
Open Account |
Ally Invest |
| Under $24,999.99 | 9.25% | 9.75% |
| $25,000.00 to $49,999.99 | 9.25% | 9.50% |
| $50,000.00 to $99,999.99 | 8.50% | 8.75% |
| $100,000.00 to $249,999.99 | 8.50% | 7.50% |
| $250,000.00 to $499,999.99 | 8.50% | 6.50% |
| $500,000.00 to $999,999.99 | 5.25% | 6.00% |
| Above $1,000,000.00 | 5.25% | 5.25% |
| Commissions & Fees | ||
| Winner | check_circle |
| Feature | TradeStation | Ally Invest |
| IRA Annual Fee | $35.00 | $0.00 |
| IRA Closure Fee | $50.00 | $50.00 |
| Returned ACH Fee | $25.00 | $30.00 |
| Returned Wire Fee | $25.00 | $30.00 |
| Stock Certificate Processing Fee | $150.00 | $300.00 |
| Stock Certificate Delivery Fee | $15.00 | $300.00 |
| Paper Statement Fee | $1.00 | $2.00 |
| Paper Confirmation Fee | $1.00 | $1.00 |
| Domestic Wire Fee | $25.00 | $30.00 |
| International Wire Fee | $35.00 | N/A |
| Commissions & Fees |
| Feature | TradeStation | Ally Invest |
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Stock Trading |
Yes | Yes |
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OTCBB / Pink Sheets |
Yes | Yes |
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Options Trading |
Yes | Yes |
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Complex Options Max Legs |
4 | 4 |
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Futures Trading |
Yes | No |
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Forex Trading |
No | Yes |
| Commission-Free ETFs | all | all |
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Mutual Funds (No Load) |
887 | 7200 |
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Mutual Funds (Total) |
4357 | 14000 |
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Bonds (US Treasury) |
Yes | Yes |
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Bonds (Corporate) |
Yes | Yes |
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Bonds (Municipal) |
Yes | Yes |
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Advisor Services |
No | Yes |
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International Trading |
No | No |
| Offering of Investments | ||
| Winner | check_circle |
| Feature | TradeStation | Ally Invest |
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Order Type - Market |
Yes | Yes |
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Order Type - Limit |
Yes | Yes |
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Order Type - Stop |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | Yes |
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Order Type - Contingent |
Yes | Yes |
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Order Type - MultiContingent |
Yes | No |
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Order Type - OCO |
Yes | Yes |
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Order Type - OTO |
Yes | Yes |
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Order Type - OTOCO |
Yes | No |
| Offering of Investments | ||
| Winner | check_circle |
| Feature | TradeStation | Ally Invest |
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Desktop Platform (Windows) |
Yes | No |
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Desktop Platform (Mac) |
No | No |
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Web Platform |
Yes | Yes |
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Paper Trading |
Yes | No |
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Trade Journal |
No | No |
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Watch Lists - Total Fields |
335 | 21 |
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Two-Factor Authentication Login |
Yes | Yes |
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Heat Mapping |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
| Feature | TradeStation | Ally Invest |
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Charting - Trade Off Chart |
Yes | No |
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Charting - Indicators / Studies |
282 | 117 |
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Charting - Drawing Tools |
23 | 36 |
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Charting - Historical Trades |
Yes | No |
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Charting - Corporate Events |
No | Yes |
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Charting - Automated Analysis |
No | Yes |
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Charting - Save Profiles |
Yes | Yes |
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Charting - Study Customizations |
12 | 5 |
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Charting - Custom Studies |
Yes | No |
| Platforms & Tools | ||
| Winner | check_circle |
| Feature | TradeStation | Ally Invest |
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Stock Alerts - Basic Fields |
Yes | Yes |
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Stock Alerts - Advanced Fields |
Yes | No |
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Streaming Time & Sales |
Yes | No |
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Streaming TV |
No | No |
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Direct Market Routing - Stocks |
Yes | No |
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Direct Market Routing - Options |
Yes | No |
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Ladder Trading |
Yes | No |
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Trade Hot Keys |
Yes | No |
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Level 2 Quotes - Stocks |
Yes | No |
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Level 2 Quotes - Options |
Yes | No |
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Trade Ideas - Backtesting |
Yes | No |
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Short Locator |
Yes | No |
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Client Liquidity Rebates |
Yes | No |
| Winner | check_circle |
| Feature | TradeStation | Ally Invest |
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iPhone App |
Yes | Yes |
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Android App |
Yes | Yes |
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Apple Watch App |
No | No |
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Trading - Stocks |
Yes | Yes |
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Trading - After-Hours |
Yes | No |
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Trading - Conditional Orders |
Yes | No |
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Trading - Mutual Funds |
No | No |
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Trading - Simple Options |
Yes | Yes |
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Trading - Complex Options |
Yes | Yes |
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Trading - Option Rolling |
No | No |
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Touch / Face ID |
Yes | Yes |
| Winner | check_circle |
| Feature | TradeStation | Ally Invest |
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Watch List Syncing |
Yes | Yes |
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Stock Alerts - Basic Fields |
Yes | No |
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Charting - After Hours |
Yes | No |
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Charting - Drawing |
Yes | No |
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Charting - Study Customizations |
Yes | No |
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Customizable Homescreen |
No | No |
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Heatmapping |
No | No |
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Stream Live TV |
No | No |
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Barcode Lookup |
No | No |
| Mobile Trading | ||
| Winner | check_circle |
| Feature | TradeStation | Ally Invest |
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Research - Stocks |
Yes | Yes |
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Research - ETFs |
Yes | Yes |
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Research - Mutual Funds |
No | Yes |
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Research - Pink Sheets / OTCBB |
Yes | Yes |
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Research - Fixed Income |
No | No |
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Screener - Stocks |
Yes | No |
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Screener - ETFs |
No | No |
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Screener - Mutual Funds |
No | No |
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Screener - Options |
Yes | No |
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Screener - Bonds |
No | No |
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Misc - Portfolio Builder |
No | Yes |
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Misc - Portfolio Allocation |
No | No |
| Research | ||
| Winner | check_circle |
| Feature | TradeStation | Ally Invest |
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Stock Research - Reports |
0 | 2 |
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Stock Research - Earnings |
No | No |
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Stock Research - Insiders |
No | No |
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Stock Research - Metric Comp |
No | No |
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Stock Research - SEC Filings |
No | No |
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Stock Research - Social |
No | No |
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Stock Research - Balance Sheet |
No | No |
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Stock Research - Cash Flows |
No | No |
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Stock Research - News |
Yes | Yes |
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Stock Research - ESG |
No | No |
| Research | ||
| Winner | check_circle |
| Feature | TradeStation | Ally Invest |
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ETFs - Strategy Overview |
No | Yes |
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ETFs - Top 10 Holdings |
No | No |
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ETFs - Sector Exposure |
No | No |
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ETFs - Risk Analysis |
No | Yes |
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ETFs - Performance Analysis |
No | Yes |
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ETFs - Ratings |
No | Yes |
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ETFs - Morningstar StyleMap |
No | No |
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ETFs - Reports |
No | Yes |
| Research | ||
| Winner | check_circle |
| Feature | TradeStation | Ally Invest |
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Mutual Funds - Strategy Overview |
No | Yes |
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Mutual Funds - Prospectus |
No | No |
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Mutual Funds - Reports |
No | No |
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Mutual Funds - Fees Breakdown |
No | Yes |
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Mutual Funds - Top 10 Holdings |
No | No |
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Mutual Funds - Asset Allocation |
No | No |
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Mutual Funds - Sector Allocation |
No | Yes |
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Mutual Funds - Country Allocation |
No | No |
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Mutual Funds - StyleMap |
No | No |
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Mutual Funds - 3rd Party Ratings |
No | Yes |
| Research | ||
| Winner | check_circle |
| Feature | TradeStation | Ally Invest |
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Option Chains - Streaming |
Yes | Yes |
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Option Chains - Total Columns |
32 | 8 |
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Option Chains - Greeks |
5 | 1 |
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Option Chains - Quick Analysis |
Yes | Yes |
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Option Analysis - P&L Charts |
Yes | Yes |
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Option Probability Analysis |
Yes | Yes |
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Option Probability Analysis Adv |
Yes | Yes |
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Option Positions - Greeks |
Yes | Yes |
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Option Positions - Adv Analysis |
Yes | Yes |
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Option Positions - Rolling |
Yes | No |
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Option Positions - Grouping |
Yes | Yes |
| Platforms & Tools | ||
| Winner | check_circle |
| Feature | TradeStation | Ally Invest |
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Has Education - Stocks |
Yes | Yes |
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Has Education - ETFs |
No | No |
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Has Education - Options |
Yes | Yes |
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Has Education - Mutual Funds |
No | Yes |
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Has Education - Fixed Income |
No | Yes |
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Has Education - Retirement |
No | Yes |
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Paper Trading |
Yes | No |
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Videos |
Yes | No |
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Webinars (Monthly Avg) |
30 | 17 |
|
Webinars (Archived) |
Yes | No |
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Live Seminars |
Yes | Yes |
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Progress Tracking |
No | No |
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Interactive Learning - Quizzes |
No | No |
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Investor Magazine |
Yes | No |
| Education | ||
| Winner | check_circle |
| Feature | TradeStation | Ally Invest |
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Retail Locations |
0 | 0 |
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Member FDIC |
No | Yes |
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Checking Accounts |
No | Yes |
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Savings Accounts |
No | Yes |
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Credit Cards |
No | Yes |
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Debit Cards |
No | Yes |
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Mortgage Loans |
No | Yes |
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No Fee Banking |
No | Yes |
| Banking | ||
| Winner | check_circle |
| Feature | TradeStation | Ally Invest |
| TradeStation Review | Ally Invest Review | |
| Overall | ||
| Winner | check_circle |
Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Ally Invest vs TradeStation to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. Ally Invest and TradeStation have equal fees for trading stocks (equities), $0 per trade. For options trading, both Ally Invest and TradeStation charge the same base fee of $0. Option contracts run $0.50 a piece at both brokerages. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.
Next, investors want to make sure they can trade the investment vehicle they want. TradeStation supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Ally Invest supports Stock Trading, Options Trading, Mutual Funds and Forex Trading. As far as mutual funds go, Ally Invest boasts an offering of 14000 mutual funds compared to TradeStation's 4357 available funds.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. TradeStation offers virtual trading while Ally Invest does not. For mobile trading, Ally Invest and TradeStation both have a iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Ally Invest while customers at TradeStation can have none of these.
Overall, between Ally Invest and TradeStation, TradeStation is the winner.
All pricing data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.
