Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare OptionsHouse vs Ally Invest.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. OptionsHouse and Ally Invest have equal fees for trading stocks (equities), $4.95 per trade. Looking at options, the base fees charged are the same for both brokers, $4.95. Each option contract then costs $0.65 at Ally Invest and $0.50 at OptionsHouse. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review
Next to commission rates, being able to trade what you want is important. Ally Invest offers clients Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while OptionsHouse offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, Ally Invest trails OptionsHouse by 2,011 total mutual funds, with OptionsHouse offering 12275 and Ally Invest offering 10264. Commission free ETFs can also be valuable for customers, OptionsHouse offers 5 commission free ETFs versus Ally Invest's total of 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. OptionsHouse offers virtual trading while Ally Invest does not. Taking a look at mobile trading, Both OptionsHouse and Ally Invest offer clients access to an iPhone App, iPad 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. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Ally Invest while customers at OptionsHouse can have none of these. On the whole, when it comes to tools, research, and mobile trading, OptionsHouse was rated Best in Class - Mobile Trading, while Ally Invest was rated none of these.
Overall, both OptionsHouse and Ally Invest are rated 4.00 stars.