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TradeStation vs Ally Invest 2020

Is Ally Invest better than TradeStation? After testing 15 of the best online brokers over five months, TradeStation (82.4%) is better than Ally Invest (79.49%). As a trading technology leader, TradeStation supports casual traders through its web-based platform and active traders through its award-winning desktop platform, all with $0 stock and ETF trades.

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Overall Rating

Feature TradeStation Ally Invest
Overall 4 4
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 4.5
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Margin Rates

Feature TradeStation Ally Invest
Under $24,999.99 9.50% 7.75%
$25,000.00 to $49,999.99 9.50% 7.50%
$50,000.00 to $99,999.99 8.75% 6.75%
$100,000.00 to $249,999.99 8.75% 5.50%
$250,000.00 to $499,999.99 8.75% 4.50%
$500,000.00 to $999,999.99 5.50% 4.00%
Above $1,000,000.00 5.50% 3.25%
Commissions & Fees 4.5 4.5
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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 4.5

Investment Options

Feature TradeStation Ally Invest
Stock Trading
Yes Yes
Fractional Shares
No No
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
Interest Sharing
Yes No
Advisor Services
No Yes
International Trading
No No
Offering of Investments 4.5 4
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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 4.5 4
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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
AI Assistant Bot
No No
Platforms & Tools 5 3
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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 5 3
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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
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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
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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 3.5
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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 2 3.5
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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 2 3.5
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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 2 3.5
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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 2 3.5
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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 5 3
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Beginners

Feature TradeStation Ally Invest
Education (Stocks)
Yes Yes
Education (ETFs)
No No
Education (Options)
Yes Yes
Education (Mutual Funds)
No Yes
Education (Fixed Income)
No Yes
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 2.5 3.5
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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
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Overall

Feature TradeStation Ally Invest
TradeStation Review Ally Invest Review
Overall 4 4
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Comparing brokers side by side is no easy task. For our 2020 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Ally Invest vs TradeStation.

Is Ally Invest or TradeStation better for beginners?
Ally Invest is better for beginner investors than TradeStation. Ally Invest offers investors access to Education (Stocks), Education (Options), Education (Mutual Funds), Education (Fixed Income) and Education (Retirement).

What about Ally Invest vs TradeStation pricing?
Ally Invest and TradeStation charge the same amount for regular stock trades, $0. With options, the base fee is $0 for both Ally Invest and TradeStation. Option contracts at both of the brokerages are the same at $0.50 each. For a complete commissions summary, see our best discount brokers guide.

Does Ally Invest or TradeStation offer a wider range of investment options?
TradeStation offers a more diverse selection of investment options than Ally Invest. TradeStation offers investors access to Stock Trading, OTCBB / Pink Sheets, Options Trading, Mutual Funds and Futures Trading. Looking at Mutual Funds, Ally Invest boasts an offering of 18728 mutual funds compared to TradeStation's 4357 available funds.

Which trading platform is better: Ally Invest or TradeStation?
To compare the trading platforms of both Ally Invest and TradeStation, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, TradeStation offers a better experience. With research, Ally Invest offers superior market research. Finally, we found TradeStation to provide better mobile trading apps.

Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. 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 better online broker.

Ally Invest Review
TradeStation Review

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All pricing data was obtained from a published web site as of 01/20/2020 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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