Ally Invest vs TradeStation Comparison
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.
Is Ally Invest or TradeStation better for beginners?
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).
What about Ally Invest vs TradeStation pricing?
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.
Does Ally Invest or TradeStation offer a wider range of investment options?
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.
Do Ally Invest and TradeStation offer cryptocurrency?
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.
Which trading platform is better: Ally Invest or TradeStation?
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.
Does Ally Invest or TradeStation offer a better stock trading app?
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
Which broker is better for researching stocks?
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.
How do Ally Invest and TradeStation compare in terms of minimum deposit required?
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.
Which broker offers better margin rates for accounts under $25,000?
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%.
Does Ally Invest offer fractional shares? Does TradeStation?
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.
Can you trade penny stocks with Ally Invest or TradeStation?
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.
Does either broker offer banking?
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.
Which broker offers stronger customer service?
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.
Is Ally Invest good?
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.
Is TradeStation good?
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.
Ally Invest vs TradeStation Winner
Overall winner: Ally Invest
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