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TradeStation vs Ally Invest 2019

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%).

TradeStation

Best for Platform Technology - Open Account
Promo Offer: Commission-Free Trades on Stocks, ETFs & Options Trades

TradeStation's advanced trading platform has been awarded Best Platform Technology for the past six years. For active traders and day traders, TradeStation was rated 5 stars and comes packed full of tools and functionality. And, for traders who do not require all the bells and whistles of the TradeStation desktop platform, a $0 trading plan option is available.Read full review.

Ally Invest

Best for IRA Accounts Overall
Among the bank and brokerage combinations, Ally shines and competes with the best in the industry. Ally’s high-yield savings account is easy to use and offers competitive annual yields above 2%. Also, Ally does not nickel and dime its customers; it embraces no-fee banking. Read full review.

Overall Rating

Feature TradeStation Ally Invest
Overall 3.5 3
TradeStation Review Ally Invest Review

Trading Fees

Feature TradeStation Ally Invest
Minimum Deposit $0.00 $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 4.5 3.5
Winner check_circle

Margin Rates

Feature TradeStation
Open Account
Ally Invest
Under $24,999.99 9.50% 9.50%
$25,000.00 to $49,999.99 9.50% 9.25%
$50,000.00 to $99,999.99 8.75% 8.50%
$100,000.00 to $249,999.99 8.75% 7.25%
$250,000.00 to $499,999.99 8.75% 6.25%
$500,000.00 to $999,999.99 5.50% 5.75%
Above $1,000,000.00 5.50% 5.00%
Commissions & Fees 4.5 3.5
Winner check_circle

Account Fees

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 4.5 3.5

Investment Options

Feature TradeStation Ally Invest
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
Yes No
Forex Trading
No Yes
Commission-Free ETFs all all
Mutual Funds (No Load)
887 11234
Mutual Funds (Total)
4357 18728
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes Yes
Bonds (Municipal)
Yes Yes
Advisor Services
No Yes
International Trading
No No
Offering of Investments 4 4
Winner check_circle

Order Types

Feature TradeStation Ally Invest
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes Yes
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes Yes
Order Type - OTO
Yes Yes
Order Type - OTOCO
Yes No
Offering of Investments 4 4
Winner check_circle

Trading Platforms

Feature TradeStation Ally Invest
Desktop Platform (Windows)
Yes No
Desktop Platform (Mac)
No No
Web Platform
Yes Yes
Paper Trading
Yes No
Trade Journal
No No
Watch Lists - Total Fields
335 21
Heat Mapping
No No
Platforms & Tools 4.5 2.5
Winner check_circle

Charting Features

Feature TradeStation Ally Invest
Charting - Trade Off Chart
Yes No
Charting - Indicators / Studies
285 117
Charting - Drawing Tools
23 36
Charting - Historical Trades
Yes No
Charting - Corporate Events
No Yes
Charting - Automated Analysis
No Yes
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
12 5
Charting - Custom Studies
Yes No
Platforms & Tools 4.5 2.5
Winner check_circle

Day Trading

Feature TradeStation Ally Invest
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
Yes No
Streaming Time & Sales
Yes No
Streaming TV
No No
Direct Market Routing - Stocks
Yes No
Direct Market Routing - Options
Yes No
Ladder Trading
Yes No
Trade Hot Keys
Yes No
Level 2 Quotes - Stocks
Yes No
Level 2 Quotes - Options
Yes No
Trade Ideas - Backtesting
Yes Yes
Short Locator
Yes No
Order Liquidity Rebates
Yes No
Winner check_circle

Mobile Trading Apps

Feature TradeStation Ally Invest
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes No
Trading - Conditional Orders
Yes No
Trading - Mutual Funds
No No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes Yes
Winner check_circle

Mobile App Features

Feature TradeStation Ally Invest
Watch List Syncing
Yes Yes
Stock Alerts
Yes No
Charting - After Hours
Yes No
Charting - Drawing
Yes No
Charting - Study Customizations
Yes No
Heatmapping
No No
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 4.5 3
Winner check_circle

Research Overview

Feature TradeStation Ally Invest
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
No Yes
Research - Pink Sheets / OTCBB
Yes Yes
Research - Fixed Income
No No
Screener - Stocks
Yes No
Screener - ETFs
No No
Screener - Mutual Funds
No No
Screener - Options
Yes No
Screener - Bonds
No Yes
Misc - Portfolio Builder
No Yes
Misc - Portfolio Allocation
No No
Research 1.5 2
Winner check_circle

Stock Research

Feature TradeStation Ally Invest
Stock Research - Reports
0 2
Stock Research - Earnings
No Yes
Stock Research - Insiders
No Yes
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
No Yes
Stock Research - Social
No No
Stock Research - Balance Sheet
No Yes
Stock Research - Cash Flows
No Yes
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 1.5 2
Winner check_circle

ETF Research

Feature TradeStation Ally Invest
ETFs - Strategy Overview
No Yes
ETFs - Top 10 Holdings
No No
ETFs - Sector Exposure
No No
ETFs - Risk Analysis
No Yes
ETFs - Performance Analysis
No Yes
ETFs - Ratings
No Yes
ETFs - Morningstar StyleMap
No No
ETFs - Reports
No Yes
Research 1.5 2
Winner check_circle

Mutual Fund Research

Feature TradeStation Ally Invest
Mutual Funds - Strategy Overview
No Yes
Mutual Funds - Prospectus
No No
Mutual Funds - Reports
No Yes
Mutual Funds - Fees Breakdown
No Yes
Mutual Funds - Top 10 Holdings
No No
Mutual Funds - Asset Allocation
No No
Mutual Funds - Sector Allocation
No Yes
Mutual Funds - Country Allocation
No No
Mutual Funds - StyleMap
No No
Mutual Funds - 3rd Party Ratings
No Yes
Research 1.5 2
Winner check_circle

Options Trading

Feature TradeStation Ally Invest
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
32 8
Option Chains - Greeks
5 1
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes Yes
Option Probability Analysis Adv
Yes No
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes Yes
Option Positions - Rolling
Yes No
Option Positions - Grouping
Yes Yes
Platforms & Tools 4.5 2.5
Winner check_circle

Beginners

Feature TradeStation Ally Invest
Has Education - Stocks
Yes Yes
Has Education - ETFs
No No
Has Education - Options
Yes Yes
Has Education - Mutual Funds
No Yes
Has Education - Fixed Income
No Yes
Has Education - Retirement
No Yes
Paper Trading
Yes No
Videos
Yes No
Webinars (Monthly Avg)
0 15
Webinars (Archived)
Yes No
Live Seminars
Yes No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
Yes No
Education 3 3.5
Winner check_circle

Banking

Feature TradeStation Ally Invest
Retail Locations
0 0
Member FDIC
No Yes
Checking Accounts
No Yes
Savings Accounts
No Yes
Credit Cards
No Yes
Debit Cards
No Yes
Mortgage Loans
No Yes
No Fee Banking
No Yes
Banking 0.5 4
Winner check_circle

Overall

Feature TradeStation Ally Invest
TradeStation Review Ally Invest Review
Overall 3.5 3
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 charge the same amount for regular stock trades, $0. For options trading, both Ally Invest and TradeStation charge the same base fee of $0. Option contracts cost $0.50 each 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 provides its clients with Stock Trading, Options Trading, Mutual Funds and Futures Trading while Ally Invest provides clients access to Stock Trading, Options Trading, Mutual Funds and Forex Trading. As far as mutual funds go, TradeStation trails Ally Invest by 9,643 total mutual funds, with Ally Invest offering 14000 and TradeStation offering 4357.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. TradeStation makes virtual trading available to clients, while Ally Invest does not. For mobile trading, Ally Invest along with TradeStation both support the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Ally Invest while TradeStation offers none of these.

Overall, between Ally Invest and TradeStation, TradeStation is the winner.

Ally Invest Review
TradeStation Review



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.

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