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 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, with its regular stock trades costing $6.95, is more expensive than Ally Invest's rate of $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. Ally Invest's per contract rate of $0.65 is less than E*TRADE which charges $0.75. 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 supports Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while E*TRADE supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, E*TRADE trails Ally Invest by 1,266 total mutual funds, with Ally Invest offering 10264 and E*TRADE offering 8998. Commission free ETFs can also be a nice plus, with Ally Invest falling behind E*TRADE, offering 100 commission free ETFs compared to E*TRADE's 270.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Neither E*TRADE and Ally Invest offer virtual trading. For mobile trading, E*TRADE 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. Checking Accounts and Debit Cards are offered by E*TRADE while Ally Invest offers 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 was rated Best in Class - Research and Best in Class - Mobile Trading, while Ally Invest was rated none of these.
Overall, E*TRADE takes the upper hand with 4.50 stars over Ally Invest's 3.50 stars.