The StockBrokers.com 2017 Brokerage Review assessed 16 different brokers over six months, surfacing the best online stock brokers
. This review compares E*TRADE vs Ally Invest. Is E*TRADE 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. E*TRADE charges $6.95 per stock trade which is $2.00 more than Ally Invest which charges customers $4.95 per trade. For options trading, E*TRADE has a base fee of $6.95, and Ally Invest a base fee of $4.95. Option contracts are pricier at E*TRADE, costing $0.75 versus $0.65 at Ally Invest. 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 E*TRADE offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Ally Invest offers its clients access to 10138 different mutual funds while E*TRADE has 8652 available funds, a difference of 1,486. Commission free ETFs can also be a nice plus, with Ally Invest falling behind E*TRADE, offering 0 commission free ETFs compared to E*TRADE's 133.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Ally Invest has virtual trading, E*TRADE doesn't. For mobile trading, Ally Invest offer clients access to an iPhone App and Android App while E*TRADE has an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts and Debit Cards are available to clients of E*TRADE while Ally Invest offers customers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. On the whole, when it comes to tools, research, and mobile trading, E*TRADE finished with awards Best in Class - Research and Best in Class - Mobile Trading in 2017, while Ally Invest came up with none of these.
Overall, both E*TRADE and Ally Invest share a rating of 4.00 stars.