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 $4.95 per stock trade which is $4.95 more than Robinhood which charges customers $0 per trade. With options, the base fees charged are $N/A (Robinhood) and $4.95 (Ally Invest). Option contracts are pricier at Robinhood, costing $N/A versus $0.65 at Ally Invest. 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. Ally Invest provides its clients with Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while Robinhood provides clients access to Stock Trading. When it comes to mutual funds, Robinhood trails Ally Invest by 10,264 total mutual funds, with Ally Invest offering 10264 and Robinhood offering 0. Commission free ETFs can also be a nice plus, which in this case means trading a possible 0 commission free ETFs at both brokers.
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, Robinhood and Ally Invest both have a 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 comes out on top with 4.00 stars over Robinhood's 2.50 stars.