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). TradeStation Securities's per contract rate of $0.50 is less than Ally Invest which charges $0.65. 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 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 boasts an offering of 10264 mutual funds compared to TradeStation Securities's 4951 available funds. And, commission free ETFs deserve a comparison, which for investors means access to 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 has virtual trading, Ally Invest doesn't. For mobile trading, Ally Invest and TradeStation Securities both have a 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, TradeStation Securities was rated Best in Class - Platforms & Tools, while Ally Invest was rated none of these.
Overall, TradeStation Securities comes out on top with 4.00 stars over Ally Invest's 3.50 stars.