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 charges more than Ally Invest for placing regular stock trades ($6.95 and $4.95, respectively). 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, 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, E*TRADE offers 156 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 E*TRADE and Ally Invest offer virtual trading. For mobile trading, Both E*TRADE and Ally Invest offer clients access to an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Clients can have Checking Accounts and Debit Cards at E*TRADE while customers at Ally Invest can have 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, while Ally Invest came up with none of these.
Overall, both E*TRADE and Ally Invest hold a 4.00 star rating.