Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare OptionsHouse vs Ally Invest to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. OptionsHouse and Ally Invest have equal fees for trading stocks (equities), $4.95 per trade. For options trading, both OptionsHouse and Ally Invest charge the same base fee of $4.95. Option contracts are pricier at Ally Invest, costing $0.65 versus $0.50 at OptionsHouse. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. 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. As far as mutual funds go, OptionsHouse boasts an offering of 12275 mutual funds compared to Ally Invest's 10264 available funds. And, commission free ETFs deserve a comparison, OptionsHouse offers 5 commission free ETFs versus Ally Invest's total of 0.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. OptionsHouse makes virtual trading available to clients, while Ally Invest does not. For mobile trading, Both OptionsHouse and Ally Invest offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to clients of Ally Invest while OptionsHouse offers customers none of these. All factors considered, when it comes to platform tools, research, and mobile trading, OptionsHouse finished with awards Best in Class - Mobile Trading, while Ally Invest came up with none of these.
Overall, OptionsHouse takes the upper hand with 4.00 stars over Ally Invest's 3.50 stars.