The StockBrokers.com 2017 Brokerage Review
compares Interactive Brokers vs Ally Invest. Compare Interactive Brokers and Ally Invest trade commissions, fees and overall broker ratings by using the table below. Is Interactive Brokers or Ally Invest a better online broker?
Looking at both brokers, first we will take a look at the commission rates for both placing regular stock and options trades. Ally Invest charges more than Interactive Brokers for placing regular stock trades ($4.95 and $0.00 (the broker charges a per share rate instead), respectively). Looking at trading options, Interactive Brokers's base fee is $0.00 while Ally Invest's is $4.95. Each contract then costs $0.70 at Interactive Brokers and $0.65 at Ally Invest for a difference in price of $0.05 per contract. It should be noted that not every broker uses a flat rate stock trade fee structure, so it is important to read the full commission notes (head over to any online brokerage review
page, then navigate to the "Commission Notes" section).
Alongside trade commissions, 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 Interactive Brokers supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Interactive Brokers trails Ally Invest by 2,112.00 total funds, with Ally Invest offering 10138 and Interactive Brokers offering 8026. Commission free ETFs can also be a nice plus, Interactive Brokers offers 33 versus Ally Invest's total of 0.
Last but not least, by breaking down important features that each broker offers, we can really help to separate the two brokers. Interactive Brokers and Ally Invest both have virtual trading. For mobile trading, Ally Invest supports the iPhone App and Android App while Interactive Brokers supports 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 clients at Interactive Brokers can have none of these. On the whole, when it comes to tools, research, and trading on the go, Interactive Brokers was rated for Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2014, while Ally Invest was rated for none of these.
Overall, both Interactive Brokers and Ally Invest hold a 4.00 star rating.