The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers
. This review compares Robinhood vs Ally Invest. Is Robinhood 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 charges more than Robinhood for placing regular stock trades ($4.95 and $0, respectively). For options trading, Ally Invest has a base fee of $4.95, and Robinhood a base fee of $0. Option contracts are pricier at Ally Invest, costing $0.65 versus $0 at Robinhood. 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. Robinhood provides its clients with Stock Trading and Options Trading while Ally Invest provides clients access to Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading. When it comes to mutual funds, Ally Invest offers its clients access to 10264 different mutual funds while Robinhood has 0 available funds, a difference of 10,264. Commission free ETFs can also be a nice plus, with Ally Invest falling behind Robinhood, offering 100 commission free ETFs compared to Robinhood's 499.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Robinhood nor Ally Invest offers virtual trading. For mobile trading, Both Robinhood and Ally Invest offer clients access to an 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 Robinhood can have none of these. On the whole, when it comes to tools, research, and mobile trading, neither Robinhood nor Ally Invest were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Ally Invest takes the upper hand with 3.50 stars over Robinhood's 2.50 stars.