Written by StockBrokers.com
Is Ally Invest better than TradeStation? After testing 17 of the best online brokers over three months, our analysis finds that Ally Invest (84.64%) is better than TradeStation (81.95%). 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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0 of 5| Overall Rating | Ally Invest | TradeStation | |
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| Review | Ally Invest Review | TradeStation Review |
| Broker Screenshots | Ally Invest | TradeStation | |
|---|---|---|---|
| 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 | Ally Invest | TradeStation | |
|---|---|---|---|
| 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) | (Not offered) | $1.50 | |
| Broker Assisted Trade Fee | $20 | $25 |
| Margin Rates | Ally Invest | TradeStation | |
|---|---|---|---|
| Margin Rate Under $25,000 | 13.00% | 13.50% | |
| Margin Rate $25,000 to $49,999.99 | 12.75% | 13.50% | |
| Margin Rate $50,000 to $99,999.99 | 12.00% | 12.50% | |
| Margin Rate $100,000 to $249,999.99 | 10.75% | 12.50% | |
| Margin Rate $250,000 to $499,999.99 | 9.75% | 12.50% | |
| Margin Rate $500,000 to $999,999.99 | 9.25% | 8.00% | |
| Margin Rate Above $1,000,000 | 8.50% | 8.00% |
| Account Fees | Ally Invest | TradeStation | |
|---|---|---|---|
| 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 Options | Ally Invest | TradeStation | |
|---|---|---|---|
| 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) | 13000 | 800 | |
| Mutual Funds (Total) | 14000 | 4000 | |
| Bonds (US Treasury) | Yes | Yes | |
| Bonds (Corporate) | Yes | Yes | |
| Bonds (Municipal) | Yes | Yes | |
| Advisor Services | Yes | No | |
| International Countries (Stocks) | 0 | 0 |
| Order Types | Ally Invest | TradeStation | |
|---|---|---|---|
| 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 |
| Beginners | Ally Invest | TradeStation | |
|---|---|---|---|
| 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 | Yes | |
| Progress Tracking | No | No | |
| Interactive Learning - Quizzes | No | No |
| Stock Trading Apps | Ally Invest | TradeStation | |
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| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Apple Watch App | No | No | |
| 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 Features | Ally Invest | TradeStation | |
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| 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 | 341 |
| Stock App Charting | Ally Invest | TradeStation | |
|---|---|---|---|
| Charting - After-Hours | No | Yes | |
| Charting - Can Turn Horizontally | Yes | No | |
| Charting - Multiple Time Frames | Yes | Yes | |
| Charting - Technical Studies | 17 | 45 | |
| Charting - Study Customizations | No | Yes | |
| Charting - Stock Comparisons | Yes | No |
| Trading Platforms | Ally Invest | TradeStation | |
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| 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 | 341 |
| Stock Chart Features | Ally Invest | TradeStation | |
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| Charting - Adjust Trades on Chart | No | Yes | |
| Charting - Indicators / Studies | 117 | 294 | |
| 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 Trading | Ally Invest | TradeStation | |
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| 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 Overview | Ally Invest | TradeStation | |
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| 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 Research | Ally Invest | TradeStation | |
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| 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 Research | Ally Invest | TradeStation | |
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| 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 Research | Ally Invest | TradeStation | |
|---|---|---|---|
| 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 | Yes | |
| 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 Trading | Ally Invest | TradeStation | |
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| Option Chains - Basic View | Yes | Yes | |
| Option Chains - Strategy View | Yes | Yes | |
| Option Chains - Streaming | Yes | Yes | |
| Option Chains - Total Columns | 8 | 29 | |
| 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 |
| Banking | Ally Invest | TradeStation | |
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| 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 Service | Ally Invest | TradeStation | |
|---|---|---|---|
| Phone Support (Prospect Customers) | Yes | Yes | |
| Phone Support (Current Customers) | Yes | Yes | |
| Email Support | Yes | Yes | |
| Live Chat (Prospect Customers) | Yes | Yes | |
| Live Chat (Current Customers) | Yes | Yes | |
| 24/7 Support | Yes | No |
| Overall | Ally Invest | TradeStation | |
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| Overall |
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| Commissions & Fees |
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| Investment Options |
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| Platforms & Tools |
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| Mobile Trading Apps |
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| Research |
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| Education |
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| Ease Of Use |
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| Winner | check_circle | ||
| Review | Ally Invest Review | TradeStation Review |
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 Ally Invest vs TradeStation.
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 2023, our review finds that Ally Invest offers more comprehensive new investor education for beginning 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).
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 futures, TradeStation charges $1.50 per contract and Ally Invest charges (Not offered) per contract. For a deeper dive, see our best brokers for free stock trading guide.
Looking at a full range of investment options, including order types and international trading, our research has found that TradeStation offers a more comprehensive offering than Ally Invest. Ally Invest ranks #9 out of 17 brokers for our Investment Options category, while TradeStation ranks #5.
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 3900 and TradeStation offering 0.
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 Ally Invest and TradeStation offer crypto trading.
To compare the day trading platforms of Ally Invest and TradeStation, 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, TradeStation offers a better experience.
After testing 25 features across the stock trading apps of Ally Invest and TradeStation, we found TradeStation to be better overall. The best stock market apps are easy to use, have excellent design, and deliver a fully featured online trading experience. Ally Invest ranks #12 out of 17 brokers, while TradeStation ranks #10.
Ally Invest Trading App Gallery
TradeStation Trading App Gallery
For research, Ally Invest offers superior market research than TradeStation. Ally Invest ranks #8 and TradeStation ranks #11.
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.
Ally Invest requires a minimum deposit of $0.00, while TradeStation requires a minimum deposit of $0.00. From our testing, we found that SoFi is the only broker that requires a minimum deposit.
Ally Invest charges 13.00% for accounts under $25,000 while TradeStation charges a margin rate of 13.50%. The industry average of the 17 brokers we track is 11%.
Fractional shares are not offered by either broker. Our research has found that 41% 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.
Both Ally Invest and TradeStation allow you to trade penny stocks. Ally Invest charges $4.95 per trade while TradeStation charges $0.00. 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.
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.
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.
Ally Invest was rated 5th out of 14 brokers, with an overall score of 8.3 out of 10.
TradeStation was rated 10th out of 14 brokers, with an overall score of 7.5 out of 10.
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 2023 StockBrokers.com Annual Review, Ally Invest ranked among Best in Class for Banking Services and Customer Service.
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.
In the 2023 StockBrokers.com Annual Review, TradeStation ranked among Best in Class for Commission & Fees, Investment Options, Active Trading, Futures Trading, and Penny Stocks. TradeStation also won one StockBrokers.com Industry Award: No. 1 for Crypto Technology.
Overall winner: Ally Invest
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