The StockBrokers.com 2017 Brokerage Review assessed 16 different brokers over six months, surfacing the best online stock brokers
. This review compares ChoiceTrade vs Ally Invest. Is ChoiceTrade 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. ChoiceTrade, with its regular stock trades costing $5.00, is more expensive than Ally Invest's rate of $4.95 per trade. With options, the base fees charged are $5.00 (ChoiceTrade) and $4.95 (Ally Invest). ChoiceTrade's per contract rate of $0.50 is less than Ally Invest which charges $0.65. 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 ChoiceTrade offers Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, ChoiceTrade trails Ally Invest by 9,638 total mutual funds, with Ally Invest offering 10138 and ChoiceTrade offering 500. Commission free ETFs can also be a nice plus, which is a wash in this comparison as both ChoiceTrade and Ally Invest offer 0 commission free ETFs.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. ChoiceTrade and Ally Invest both offer virtual trading. For mobile trading, Ally Invest supports the iPhone App and Android App while ChoiceTrade supports the none of these. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Ally Invest while ChoiceTrade offers none of these. On the whole, when it comes to tools, research, and mobile trading, both ChoiceTrade and Ally Invest found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2017.
Overall, Ally Invest takes the upper hand with 4.00 stars over ChoiceTrade's 2.00 stars.