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 Firstrade vs Ally Invest. Is Firstrade 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. Ally Invest, with its regular stock trades costing $4.95, is more expensive than Firstrade's rate of $0 per trade. Looking at trading options, Firstrade's base fee is $0 while Ally Invest's is $4.95. Option contracts are pricier at Ally Invest, costing $0.65 versus $0 at Firstrade. 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 Firstrade supports Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Firstrade offers its clients access to 12603 different mutual funds while Ally Invest has 10264 available funds, a difference of 2,339. Commission free ETFs can also be a nice plus, Firstrade offers 703 commission free ETFs versus Ally Invest's total of 100.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Firstrade nor Ally Invest offers virtual trading. For mobile trading, Firstrade 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. Clients can have Checking Accounts and Debit Cards at Firstrade 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, unfortunately, neither Firstrade nor Ally Invest received awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Firstrade takes the upper hand with 4.00 stars over Ally Invest's 3.50 stars.