Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare Ally Invest vs TradeStation Securities to determine which broker is better for you. Our database includes thousands of data points on everything from research to trading tools. Let's take a closer look at Ally Invest and TradeStation Securities.
First we will break down the commission charges of both brokers for placing stock and options trades. TradeStation Securities charges $5.00 per stock trade which is $0.05 more than Ally Invest which charges clients $4.95 per trade. For options trading, TradeStation Securities has a base fee of $5.00, and Ally Invest a base fee of $4.95. Each contract then costs $0.65 at Ally Invest and $0.50 at TradeStation Securities for a difference in price of $0.15 per contract. Note that flat rate trading is not available everywhere though, so it is important to read the complete commission notes for each broker to know the full breakdown (go to any stock broker review
page, then scroll down to the "Commission Notes" section).
Trading fees aside, having access to trade what you want is also an important consideration. 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. As far as mutual funds go, Ally Invest offers its clients access to 10138 different mutual funds while TradeStation Securities has 4854 available funds, a difference of 5,284.00. And, commission free ETFs deserve a mention, which for investors means access to 0 funds at both brokers.
Finally, by looking at the most popular features and offerings of each broker, we can really see the differences between the two. Ally Invest and TradeStation Securities both have virtual trading. For mobile trading, Ally Invest supports the iPhone App and Android App while TradeStation Securities supports the iPhone App, iPad App and Android App. Online banking is also used by many clients, and multiple brokerages provide these services. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to clients of Ally Invest while TradeStation Securities offers clients none of these. All things considered, when it comes to platform tools, research, and trading via smartphone, TradeStation Securities posted awards for Best in Class - Platforms & Tools in 2014, while Ally Invest found itself with none of these.
Overall, Ally Invest comes out on top with 4.00 stars over TradeStation Securities's 3.50 stars.