The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers
. This review compares Charles Schwab vs Ally Invest. Is Charles Schwab or Ally Invest a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Charles Schwab and Ally Invest both cost $4.95 per trade. Looking at options, the base fees charged are the same for both brokers, $4.95. Option contracts at both of the brokerages are the same at $0.65 each. 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. Ally Invest offers clients Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while Charles Schwab offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Ally Invest offers its clients access to 10264 different mutual funds while Charles Schwab has 5509 available funds, a difference of 4,755. Commission free ETFs can also be a nice plus, Charles Schwab offers 244 commission free ETFs versus Ally Invest's total of 0.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Neither broker offers virtual trading. For mobile trading, Charles Schwab and Ally Invest both have a iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Both Charles Schwab and Ally Invest offer Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. On the whole, when it comes to tools, research, and mobile trading, Charles Schwab posted awards Best in Class - Platforms & Tools and Best in Class - Research in 2018, while Ally Invest found itself with none of these.
Overall, Charles Schwab comes out on top with 4.50 stars over Ally Invest's 4.00 stars.