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Interactive Brokers vs Ally Invest Review

Brandon Reinkensmeyer

Published by Brandon Reinkensmeyer


Wednesday, July 12th, 2017

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.
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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
Interactive Brokers
Special Offer Trade on over 100 market centers in 24 countries Learn More
Interactive Brokers Review
 
4
4.5
4.5
4.5
3
3.5
4
2.5
3
5
0.5
 
N/A
$0.00
$0.70
$14.95
$30.00
$10,000.00
No
No
 
Yes
Yes
Yes
No
Yes
 
Yes
Yes
Yes
9
124
37
338
 
Yes
Yes
Yes
Yes
Yes
 
Yes
No
Yes
Yes
Yes
 
33
5823
8026
4500
0
 
1.91%
1.91%
1.91%
1.61%
1.61%
1.41%
1.61%
 
No
No
No
No
No
No
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

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.

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