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 Scottrade vs Ally Invest. Is Scottrade 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. Scottrade charges more than Ally Invest for placing regular stock trades ($6.95 and $4.95, respectively). For options trading, Scottrade has a base fee of $6.95, and Ally Invest a base fee of $4.95. Each option contract then costs $0.70 at Scottrade and $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 offers clients Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while Scottrade offers Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Scottrade offers its clients access to 13599 different mutual funds while Ally Invest has 10264 available funds, a difference of 3,335. Commission free ETFs can also be a nice plus, which is a wash in this comparison as both Scottrade and Ally Invest offer 0 commission free ETFs.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Scottrade makes virtual trading available to clients, while Ally Invest does not. For mobile trading, Scottrade 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. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Ally Invest while Scottrade offers Checking Accounts, Savings Accounts and Debit Cards. On the whole, when it comes to tools, research, and mobile trading, unfortunately, neither Scottrade nor Ally Invest received awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Scottrade takes the upper hand with 4.00 stars over Ally Invest's 3.50 stars.