TradeStation vs Ally Invest Review
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 Ally Invest better than TradeStation? Based on over 4,000 data points from our 2019 annual broker review, TradeStation (71.75%) is better than Ally Invest (62.44%). As a trading technology leader, TradeStation shines, supporting casual traders through its web-based platform, and active traders through its award-winning desktop platform.
First, we will make a comparison of the stock and option trading fees for trading with both brokers. TradeStation, with its regular stock trades costing $5.00, is more expensive than Ally Invest's rate of $4.95 per trade. For options trading, TradeStation has a base fee of $5.00, and Ally Invest a base fee of $4.95. TradeStation's per contract rate of $0.50 is less than Ally Invest which charges $0.65. 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. TradeStation offers clients Stock Trading, Options Trading, Mutual Funds and Futures Trading while Ally Invest offers Stock Trading, Options Trading, Mutual Funds and Forex Trading. When it comes to mutual funds, Ally Invest offers its clients access to 14000 different mutual funds while TradeStation has 4357 available funds, a difference of 9,643.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. TradeStation makes virtual trading available to clients, while Ally Invest does not. For mobile trading, Both Ally Invest and TradeStation offer clients access to an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. 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.
Ally Invest 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.