Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of 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 $5.00 per stock trade which is $0.05 more than Ally Invest which charges customers $4.95 per trade. With options, the base fees charged are $5.00 (TradeStation Securities) and $4.95 (Ally Invest). 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, TradeStation Securities trails Ally Invest by 5,313 total mutual funds, with Ally Invest offering 10264 and TradeStation Securities offering 4951. Commission free ETFs can also be valuable for customers, which is a wash in this comparison as both Ally Invest and TradeStation Securities offer 0 commission free ETFs.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. TradeStation Securities has virtual trading, Ally Invest doesn't. Taking a look at mobile trading, Both Ally Invest and TradeStation Securities offer clients access to 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. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to clients of Ally Invest while TradeStation Securities offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, TradeStation Securities posted awards Best in Class - Platforms & Tools in 2018, while Ally Invest found itself with none of these.
Overall, Ally Invest takes the upper hand with 4.00 stars over TradeStation Securities's 3.50 stars.