Comparing brokers side by side is no easy task. For our 2017 Broker Review, we assessed 16 brokers on 308 different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare Ally Invest vs TradeStation Securities.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. TradeStation Securities charges more than Ally Invest for placing regular stock trades ($5.00 and $4.95, respectively). Looking at trading options, Ally Invest's base fee is $4.95 while TradeStation Securities's is $5.00. Each option contract then costs $0.65 at Ally Invest and $0.50 at TradeStation Securities. 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. TradeStation Securities offers clients Stock Trading, Options Trading, Mutual Funds and Futures Trading while Ally Invest offers Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading. Looking at mutual funds, Ally Invest offers its clients access to 10138 different mutual funds while TradeStation Securities has 4854 available funds, a difference of 5,284. Commission free ETFs can also be valuable for customers, which in this case means trading a possible 0 commission free ETFs at both brokers.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Ally Invest alongside TradeStation Securities offer virtual trading. Taking a look at mobile trading, Ally Invest offer clients access to an iPhone App and Android App while TradeStation Securities has 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 TradeStation Securities can have none of these. On the whole, when it comes to tools, research, and mobile trading, TradeStation Securities was rated Best in Class - Platforms & Tools in 2017, while Ally Invest was rated none of these.
Overall, Ally Invest boasts 4.00 stars versus TradeStation Securities's 3.50 stars.