The StockBrokers.com 2017 Brokerage Review assessed 16 different brokers over six months, surfacing the best online stock brokers
. This review compares Interactive Brokers vs Ally Invest. Is Interactive Brokers 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 Interactive Brokers's rate of $0 (the broker charges a per share rate instead) per trade. For options trading, Ally Invest has a base fee of $4.95, and Interactive Brokers a base fee of $0. Each option contract then costs $0.70 at Interactive Brokers and $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 provides its clients with Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while Interactive Brokers provides clients access to Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Ally Invest offers its clients access to 10138 different mutual funds while Interactive Brokers has 8026 available funds, a difference of 2,112. Commission free ETFs can also be a nice plus, with Ally Invest falling behind Interactive Brokers, offering 0 commission free ETFs compared to Interactive Brokers's 33.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Interactive Brokers and Ally Invest both offer virtual trading. For mobile trading, Ally Invest offers the iPhone App and Android App while Interactive Brokers offers the 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, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Ally Invest while customers at Interactive Brokers can have none of these. On the whole, when it comes to tools, research, and mobile trading, Interactive Brokers posted awards Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2017, while Ally Invest found itself with none of these.
Overall, both Interactive Brokers and Ally Invest share a rating of 4.00 stars.