menu

Ally Invest vs Firstrade Review

Brandon Reinkensmeyer

Published by Brandon Reinkensmeyer


Wednesday, June 21st, 2017

Comparing brokers side by side is no easy task. For our 2017 Broker Review, we factored in 308 different variables to assess 16 different brokers. So when taking a look at Firstrade vs Ally Invest, there is a huge database of information available to us.

To start this comparison, first we will take a look at the broker commission rates for placing regular stock and options trades. Firstrade and Ally Invest charge the same amount for regular stock trades, $4.95. With options, the base fee is $4.95 for both Firstrade and Ally Invest. Contracts run $0.65 a piece at both brokerages. Not all brokers charge a flat rate fee per trade though, so it is important to read the full commission notes to know the complete breakdown (go to any online broker review page, then scroll to the "Commissions Notes" section).

Next to commission rates, being able to trade the instrument you want is important. Ally Invest supports Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while Firstrade supports Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Firstrade offers its clients access to 12191 different mutual funds while Ally Invest has 10138 available funds, a difference of 2,053.00. Commission free ETFs also should not be forgotten, with Ally Invest falling behind Firstrade, offering 0 commission free etfs compared to Firstrade's 12.

Lastly, taking a look at popular features and functionality, we can go a bit deeper to really break down the difference of both brokers. Ally Invest offers virtual trading while Firstrade does not. Taking a look at mobile trading, Both Firstrade and Ally Invest offer clients access to an iPhone App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Checking Accounts and Debit Cards are offered by Firstrade 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 trading on the go, Neither Firstrade nor Ally Invest were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.

Overall, Ally Invest boasts 4.00 stars versus Firstrade's 3.50 stars.
There are no results to display, please adjust your filters or reset the Compare Tool.
Overall
Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Ease of Use
Education
Order Execution
Banking
Stock Trade Fee (flat)
Options Base Fee
Options Per Contract Fee
Mutual Fund Trade Fee
Broker Assisted Trades Fee
Minimum Deposit
No Inactivity Fees
No Fee IRAs
Stock Trading
Options Trading
Mutual Funds
Forex Trading
Futures Trading
Desktop Platform (Windows)
Web Platform
Virtual Trading
Charting - Drawing Tools
Charting - Indicators / Studies
Option Chains - Total Columns
Watch Lists - Total Fields
iPhone App
iPad App
Android App
Android Tablet App
Apple Watch App
Trading - After-Hours
Trading - Mutual Funds
Trading - Conditional Orders
Trading - Simple Options
Trading - Complex Options
Commission Free ETFs
Mutual Funds (No Load)
Mutual Funds (Total)
# of Easy to Borrow Stocks
Retail Locations
Under $24,999.99
$25,000.00 to $49,999.99
$50,000.00 to $99,999.99
$100,000.00 to $249,999.99
$250,000.00 to $499,999.99
Above $1,000,000.00
$500,000.00 to $999,999.99
Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
No Fee Banking
Ally Invest
Special Offer Reduced pricing available for high-volume/high-balance traders Learn More
Ally Invest Review
 
4
4.5
4
4
4
4
3
3
4
1.5
4
 
$4.95
$4.95
$0.65
$9.95
$20.00
$0.00
Yes
Yes
 
Yes
Yes
Yes
Yes
Yes
 
Yes
Yes
Yes
28
84
15
21
 
Yes
No
Yes
No
No
 
No
No
No
Yes
Yes
 
0
5216
10138
3890
0
 
8.00%
8.00%
7.00%
5.75%
4.75%
4.25%
4.25%
 
Yes
Yes
Yes
Yes
Yes
Yes
Firstrade
Special Offer Get up to $1000 in free commissions Learn More
Firstrade Review
 
3.5
3.5
3.5
2
4
4
3.5
4.5
3
1.5
2
 
$4.95
$4.95
$0.65
$9.95
$19.95
$0.00
Yes
Yes
 
Yes
Yes
Yes
No
No
 
No
Yes
No
5
58
8
57
 
Yes
No
Yes
No
No
 
Yes
No
No
Yes
No
 
12
4928
12191
4200
2
 
7.75%
7.50%
7.00%
6.50%
6.00%
4.50%
5.00%
 
Yes
No
No
Yes
No
No

All pricing data was obtained from a published web site as of 2/20/2017 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

arrow_drop_upBack to top