StockBrokers.com is committed to the highest ethical standards and reviews services independently. Advertiser Disclosure

TradeStation vs Ally Invest 2019

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? After scoring brokers on over 4,000 data points for our 2019 review, TradeStation (71.75%) is better than Ally Invest (62.44%). TradeStation is a discount brokerage offering low-cost stock, ETF, options, and futures trades through two excellent trading platforms. While research is limited, TradeStation does offer free streaming real-time data and charges no monthly platform fee for its base flat-fee trading accounts.

Promo Offer Spring into the market action with FREE trading until 2020 Open Account
Advertisement
Special Offer up to $3,500 cash bonus + 90 Days Commission-Free Trades Open Account
Open Account Open Account

Overall Rating

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

Trading Fees

Feature TradeStation Ally Invest
Minimum Deposit $500.00 $0.00
Stock Trade Fee (per trade) $5.00 $4.95
ETF Trade Fee $5.00 $4.95
Options Base Fee $5.00 $4.95
Options Per Contract Fee $0.50 $0.65
Mutual Fund Trade Fee $14.95 $9.95
Broker Assisted Trades Fee $50.00 $20.00
Commissions & Fees 3.5 3.5
Winner check_circle

Margin Rates

Feature TradeStation
Open Account
Ally Invest
Open Account
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 3.5 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 3.5 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 0 116
Mutual Funds (No Load)
887 7200
Mutual Funds (Total)
4357 14000
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
Two-Factor Authentication Login
Yes Yes
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
282 117
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 No
Short Locator
Yes No
Client 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 - Basic Fields
Yes No
Stock Alerts - Advanced Fields
No No
Charting - After Hours
Yes No
Charting - Drawing
Yes No
Charting - Study Customizations
Yes No
Customizable Homescreen
No 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
Research - Futures
Yes No
Research - Forex
Yes No
Screener - Stocks
Yes No
Screener - ETFs
No No
Screener - Mutual Funds
No No
Screener - Options
Yes No
Screener - Bonds
No No
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 No
Stock Research - Insiders
No No
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
No No
Stock Research - Social
No No
Stock Research - Balance Sheet
No No
Stock Research - Cash Flows
No No
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 No
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 Yes
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)
30 17
Webinars (Archived)
Yes No
Live Seminars
Yes Yes
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
Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare Ally Invest vs TradeStation.

To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. TradeStation charges more than Ally Invest for placing regular stock trades ($5.00 and $4.95, respectively). With options, the base fees charged are $5.00 (TradeStation) and $4.95 (Ally Invest). Each option contract then costs $0.65 at Ally Invest and $0.50 at TradeStation. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.

Next to commission rates, being able to trade what you want is important. TradeStation supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Ally Invest supports Stock Trading, Options Trading, Mutual Funds and Forex Trading. Looking at mutual funds, Ally Invest boasts an offering of 14000 mutual funds compared to TradeStation's 4357 available funds.

Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. TradeStation offers virtual trading while Ally Invest does not. Taking a look at mobile trading, Ally Invest along with TradeStation both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to clients of Ally Invest while TradeStation offers customers 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.

arrow_drop_upBack to top