Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare E*TRADE vs Ally Invest to determine which broker is better for you. Our database includes thousands of data points on everything from research to trading tools. Let's take a closer look at E*TRADE and Ally Invest.
First we will break down the commission charges of both brokers for placing stock and options trades. E*TRADE charges $6.95 per stock trade which is $2.00 more than Ally Invest which charges clients $4.95 per trade. Looking at trading options, Ally Invest's base fee is $4.95 while E*TRADE's is $6.95. At a difference of $0.10 per contract, Ally Invest's per contract rate of $0.65 is less than E*TRADE which charges $0.75. Note that flat rate trading is not available everywhere though, so it is important to read the complete commission notes for each broker to know the full breakdown (go to any stock broker review
page, then scroll down to the "Commission Notes" section).
Trading fees aside, having access to trade what you want is also an important consideration. 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. As far as mutual funds go, Ally Invest offers its clients access to 10138 different mutual funds while E*TRADE has 8652 available funds, a difference of 1,486.00. And, commission free ETFs deserve a mention, with E*TRADE having the upper hand thanks to its 133 available ETFs compared to Ally Invest's offering of 0.
Finally, by looking at the most popular features and offerings of each broker, we can really see the differences between the two. Ally Invest makes virtual trading available to clients, while E*TRADE does not. For mobile trading, Ally Invest supports the iPhone App and Android App while E*TRADE supports the iPhone App, iPad App and Android App. Online banking is also used by many clients, and multiple brokerages provide these services. Checking Accounts and Debit Cards are available to clients of E*TRADE while Ally Invest offers clients Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. All things considered, when it comes to platform tools, research, and trading via smartphone, E*TRADE posted awards for Best in Class - Research and Best in Class - Mobile Trading in 2014, while Ally Invest found itself with none of these.
Overall, both E*TRADE and Ally Invest share a rating of 4.00 stars.