Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare Ally Invest vs TradeStation Securities to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. TradeStation Securities charges more than Ally Invest for placing regular stock trades ($5.00 and $4.95, respectively). With options, the base fees charged are $5.00 (TradeStation Securities) and $4.95 (Ally Invest). Option contracts are pricier at Ally Invest, costing $0.65 versus $0.50 at TradeStation Securities. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. TradeStation Securities supports Stock Trading, Options Trading, Mutual Funds and Futures Trading while Ally Invest supports Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading. As far as mutual funds go, TradeStation Securities trails Ally Invest by 5,313 total mutual funds, with Ally Invest offering 10264 and TradeStation Securities offering 4951. And, commission free ETFs deserve a comparison, which in this case means trading a possible 0 commission free ETFs at both brokers.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. TradeStation Securities offers virtual trading while Ally Invest does not. For mobile trading, Both Ally Invest and TradeStation Securities offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Ally Invest while TradeStation Securities offers none of these. All factors considered, when it comes to platform tools, research, and mobile trading, both Ally Invest and TradeStation Securities found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, TradeStation Securities comes out on top with 4.00 stars over Ally Invest's 3.50 stars.