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Ally Invest Review

May 23, 2023

Ally Invest has zeroed out transaction fees on mutual funds, which makes it a good choice for fund investors. Its universal accounts experience and easy-to-use website offer a convenient, attractively priced solution. Unfortunately, Ally is toward the bottom of the pack as far as trading features.

Ally Invest
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.50

Pros & Cons

thumb_up_off_alt Pros

  • As far as banking and brokerage combinations go, Ally delivers universal account access and instant money transfers between accounts. The broker ranked among our Best in Class for banking services for 2023.
  • Ally offers $0 no-load mutual fund trades.
  • We like Ally’s options matrix and trading ticket, especially for beginners.

thumb_down_off_alt Cons

  • Ally Invest's trading tools trail (distantly) those of industry leaders TD Ameritrade, Fidelity, and Charles Schwab.
  • Ally’s educational content, though strong, is hidden away. It isn’t available in the app and is hard to find on the website.

Overall summary

Feature Ally Invest logoAlly Invest
Overall 4/5 Stars
Investment Options 4.5/5 Stars
Commissions & Fees 4.5/5 Stars
Mobile Trading Apps 4/5 Stars
Platforms & Tools 3.5/5 Stars
Research 4/5 Stars
Customer Service 4/5 Stars
Education 4/5 Stars
Ease Of Use 4.5/5 Stars

Ally Invest Trading Platform Screenshots


Mobile app:

Customer service

To score Customer Service, partners with customer experience research firm Confero to conduct phone tests from locations throughout the United States. For our 2023 Broker Review, 168 customer service tests were conducted over six weeks, with wait times logged for each call.

Customer service representatives were asked for assistance or details in several areas of broker services, including account opening, trading tools, apps, rollovers, active trading, and more. Here are the results for Ally Invest, which ranked among our Best in Class in this category.

  • Average Connection Time: 1-2 minutes
  • Average Net Promoter Score: 8.4 / 10
  • Average Professionalism Score: 8.4 / 10
  • Overall Score: 8.3 / 10
  • Ranking: 5th of 14 brokers

What is Ally Invest?

Ally Invest is the brokerage arm of Ally Financial, which offers traditional banking services such as checking and savings accounts, mortgages, and consumer credit cards and loans.

Is Ally Invest a good broker?

Current Ally customers who are willing to accept a limited roster of features to manage most of their finances at the same firm will find Ally Invest to be, well, convenient. We were pleasantly surprised by the research available on the website.

Ally brokerage also has excellent fixed-income market access and research and offers a very wide choice of mutual funds. Short-term traders, mobile-only, and tool-hungry investors should consider other brokers.

Is Ally Invest good for beginners?

For beginners looking to bank and invest under one roof, Ally Invest could be a good place to start, especially if you already have ties to Ally.

Does Ally charge brokerage fees?

Ally doesn’t charge commissions or fees on no-load mutual funds and stock and exchange-traded funds (ETFs), except for stocks priced under $2, which have a minimum of $4.95 a trade and a maximum of 20% of the principal value. Options trades are 50 cents per contract, with no exercise or early assignment fees. Bond trades are $1 per bond. There are also incidental fees.

What is the minimum balance for Ally Invest?

Like many online U.S. brokers, Ally Invest doesn’t have a minimum balance and there’s no minimum deposit required to open an account, making it a good choice for investors who want to regularly invest in mutual funds.

How do I get my money out of Ally Invest?

Select “Transfers” at the top of the Ally Invest website to move money. Ally allows you to withdraw available cash or margin via ACH, a check, an instant transfer to your Ally account, or a wire.

Is Ally Invest good for day trading?

Ally Invest doesn’t charge stock commissions (like almost all brokers today) but is missing features many traders rely upon, such as Level 2 quotes, adjusting trades on charts, low margin rates, and detailed option data, among many others. See our five top picks in our 2023 Best Day Trading Platforms guide.

Is Ally Invest trustworthy?

Ally Invest is a member of both FINRA and the Securities Investor Protection Corporation, or SIPC, which carries protection for customer accounts in the event of a broker’s bankruptcy. It’s important to understand that, as with any broker, SIPC insurance does not protect against market losses — investing is a risky endeavor.

Is Ally Invest’s robo advisor any good?

Ally’s robo portfolios, also known as automated investing services, make it easy for investors to invest in portfolios aligned with their goals. Ally uses low-cost exchange-traded funds and rebalances them as market conditions change. The investment minimum is just $100 and Ally doesn’t charge for robo portfolios with cash allocations of 30%. Otherwise, the annual fee is 0.30% of assets under robo management.

How does Ally Invest make its money?

Ally Invest makes money in the same way that other banks and brokers do. On brokerage accounts, Ally makes money from the practice of payment for order flow, or PFOF, as do nearly all other brokers in this age of $0 trades. Read more about PFOF.

About Ally Invest

Ally Invest is the online brokerage arm of Ally Financial (publicly traded, "ALLY"), which also operates Ally Bank. Ally Financial is best known for its FDIC insured banking services through Ally Bank, which includes online banking (you can read a review of Ally’s high-yield savings account on our sister site,, auto financing, and home loans.

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2023 Review methodology

Our mission at is simple: provide thorough and unbiased reviews of online brokers, based on an extraordinary level of hands-on testing and data collection. Our ratings and awards are based on this data and our experts’ deep authority in the field; brokers cannot pay for preferential treatment. Here’s more about trustworthiness at

For the 13th Annual Review published in January 2023, a total of 3,332 data points were collected over three months and used to score 17 top brokers. This makes home to the largest independent database on the web covering the online broker industry.

As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. Brokers also were offered the opportunity to provide executive time for an annual update meeting.

Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors quality data they can trust. Learn more about how we test.

Ally Invest 2023 Results

For the 2023 Annual Awards, published on Jan. 24, 2023, all U.S. equity brokers we reviewed were assessed on 196 different variables across eight areas: Commissions & Fees, Investment Options, Platforms & Tools, Research, Mobile Trading, Education, Ease of Use, and Overall. also presented “Best in Class” awards to brokers for additional categories Beginners, Options Trading, Futures Trading, Active Trading, IRA Accounts, Investor Community, Penny Stock Trading, Banking Services and Customer Service. A “Best in Class” designation means finishing in the top five brokers for that category.

For more information, see how we test.

Primary categories

Ally Invest logoAlly Invest Overall Commissions & Fees Research Platforms & Tools Mobile Trading Apps Investment Options Education Ease of Use
Rating 4/5 Stars 4.5/5 Stars 4/5 Stars 3.5/5 Stars 4/5 Stars 4.5/5 Stars 4/5 Stars 4.5/5 Stars
Rank #1
Streak #1
Best in Class
Best in Class Streak

Secondary categories

Ally Invest logoAlly Invest Active Trading Banking Services Beginners Customer Service Futures Trading Investor Community IRA Accounts Options Trading Penny Stocks
Rank #1
Streak #1
Best in Class check check
Best in Class Streak 6

Ally Invest fees and features data

The data collection efforts at are unmatched in the industry. The following tables show a deeper dive into the offerings available at this broker. You can also compare its offerings side-by-side with those of other brokers using our Comparison Tool.

In addition to meticulous annual data collection by our in-house analyst, every broker that participates in our review is afforded the opportunity to complete an in-depth data profile. We then audit each data point to ensure its accuracy.

Trading fees

Feature Ally Invest logoAlly Invest
Minimum Deposit $0.00
Stock Trades $0.00
Mutual Fund Trade Fee $0.00
Options (Base Fee) $0.00
Options (Per Contract) $0.50
Futures (Per Contract) N/A
Broker Assisted Trade Fee $20

Account fees

Feature Ally Invest logoAlly Invest
IRA Annual Fee $0.00
IRA Closure Fee $25.00
Account Transfer Out (Partial) $50.00
Account Transfer Out (Full) $50.00
Options Exercise Fee $0.00
Options Assignment Fee $0.00

Margin rates

Feature Ally Invest logoAlly Invest
Margin Rate Under $25,000 12.50%
Margin Rate $25,000 to $49,999.99 12.25%
Margin Rate $50,000 to $99,999.99 11.50%
Margin Rate $100,000 to $249,999.99 10.25%
Margin Rate $250,000 to $499,999.99 9.25%
Margin Rate $500,000 to $999,999.99 8.75%
Margin Rate Above $1,000,000 8.00%

Investment options

Feature Ally Invest logoAlly Invest
Stock Trading Yes
Margin Trading Yes
Fractional Shares No
OTC Stocks Yes
Options Trading Yes
Complex Options Max Legs 4
Futures Trading No
Forex Trading Yes
Crypto Trading No
Crypto Trading - Total Coins 0
Mutual Funds (No Load) 13000
Mutual Funds (Total) 14000
Bonds (US Treasury) Yes
Bonds (Corporate) Yes
Bonds (Municipal) Yes
Advisor Services Yes
International Countries (Stocks) 0
View More

Order types

Feature Ally Invest logoAlly Invest
Order Type - Market Yes
Order Type - Limit Yes
Order Type - After Hours Yes
Order Type - Stop Yes
Order Type - Trailing Stop No
Order Type - OCO No
Order Type - OTO No
Order Type - Broker Assisted Yes


Feature Ally Invest logoAlly Invest
Education (Stocks) Yes
Education (ETFs) Yes
Education (Options) Yes
Education (Mutual Funds) Yes
Education (Bonds) Yes
Education (Retirement) Yes
Retirement Calculator No
Investor Dictionary Yes
Paper Trading No
Videos No
Webinars No
Webinars (Archived) Yes
Progress Tracking No
Interactive Learning - Quizzes No
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Stock trading apps

Feature Ally Invest logoAlly Invest
iPhone App Yes
Android App Yes
Apple Watch App No
Trading - Stocks Yes
Trading - After-Hours Yes
Trading - Simple Options Yes
Trading - Complex Options Yes
Order Ticket RT Quotes Yes
Order Ticket SRT Quotes No

Stock app features

Feature Ally Invest logoAlly Invest
Market Movers (Top Gainers) Yes
Stream Live TV No
Videos on Demand No
Stock Alerts No
Option Chains Viewable Yes
Watch List (Real-time) Yes
Watch List (Streaming) No
Watch Lists - Create & Manage Yes
Watch Lists - Column Customization No
Watch Lists - Total Fields 21

Stock app charting

Feature Ally Invest logoAlly Invest
Charting - After-Hours No
Charting - Can Turn Horizontally Yes
Charting - Multiple Time Frames Yes
Charting - Technical Studies 17
Charting - Study Customizations No
Charting - Stock Comparisons Yes

Trading platforms overview

Feature Ally Invest logoAlly Invest
Active Trading Platform N/A
Desktop Trading Platform No
Desktop Platform (Mac) No
Web Trading Platform Yes
Paper Trading No
Trade Journal No
Watch Lists - Total Fields 21

Trading platform stock chart features

Feature Ally Invest logoAlly Invest
Charting - Adjust Trades on Chart No
Charting - Indicators / Studies 117
Charting - Drawing Tools 36
Charting - Notes Yes
Charting - Index Overlays Yes
Charting - Historical Trades No
Charting - Corporate Events No
Charting - Custom Date Range No
Charting - Custom Time Bars No
Charting - Automated Analysis Yes
Charting - Save Profiles Yes
Trade Ideas - Technical Analysis Yes
Charting - Study Customizations 5
Charting - Custom Studies No
View More

Day trading features

Feature Ally Invest logoAlly Invest
Streaming Time & Sales No
Streaming TV No
Direct Market Routing - Stocks No
Ladder Trading No
Trade Hot Keys No
Level 2 Quotes - Stocks No
Trade Ideas - Backtesting No
Trade Ideas - Backtesting Adv No
Short Locator No
Order Liquidity Rebates No

Investment research overview

Feature Ally Invest logoAlly Invest
Research - Stocks Yes
Research - ETFs Yes
Research - Mutual Funds Yes
Research - Pink Sheets / OTCBB Yes
Research - Bonds No
Screener - Stocks No
Screener - ETFs Yes
Screener - Mutual Funds No
Screener - Bonds Yes
Misc - Portfolio Allocation No

Stock research features

Feature Ally Invest logoAlly Invest
Stock Research - PDF Reports 2
Stock Research - Earnings Yes
Stock Research - Insiders Yes
Stock Research - Social Yes
Stock Research - News Yes
Stock Research - ESG No
Stock Research - SEC Filings Yes

ETF research features

Feature Ally Invest logoAlly Invest
ETFs - Strategy Overview Yes
ETF Fund Facts - Inception Date Yes
ETF Fund Facts - Expense Ratio Yes
ETF Fund Facts - Net Assets Yes
ETF Fund Facts - Total Holdings Yes
ETFs - Top 10 Holdings Yes
ETFs - Sector Exposure No
ETFs - Risk Analysis Yes
ETFs - Ratings Yes
ETFs - Morningstar StyleMap No
ETFs - PDF Reports Yes
View More

Mutual fund research features

Feature Ally Invest logoAlly Invest
Mutual Funds - Strategy Overview Yes
Mutual Funds - Performance Chart Yes
Mutual Funds - Performance Analysis Yes
Mutual Funds - Prospectus No
Mutual Funds - 3rd Party Ratings Yes
Mutual Funds - Fees Breakdown Yes
Mutual Funds - Top 10 Holdings Yes
Mutual Funds - Asset Allocation No
Mutual Funds - Sector Allocation Yes
Mutual Funds - Country Allocation No
Mutual Funds - StyleMap No
View More

Options trading overview

Feature Ally Invest logoAlly Invest
Option Chains - Basic View Yes
Option Chains - Strategy View Yes
Option Chains - Streaming Yes
Option Chains - Total Columns 8
Option Chains - Greeks 1
Option Chains - Quick Analysis Yes
Option Analysis - P&L Charts Yes
Option Probability Analysis Yes
Option Probability Analysis Adv No
Option Positions - Greeks Yes
Option Positions - Greeks Streaming No
Option Positions - Adv Analysis Yes
Option Positions - Rolling Yes
Option Positions - Grouping Yes
View More

Banking features

Feature Ally Invest logoAlly Invest
Bank (Member FDIC) Yes
Checking Accounts Yes
Savings Accounts Yes
Credit Cards No
Debit Cards Yes
Mortgage Loans Yes

Customer service options

Feature Ally Invest logoAlly Invest
Phone Support (Prospect Customers) Yes
Phone Support (Current Customers) Yes
Email Support Yes
Live Chat (Prospect Customers) Yes
Live Chat (Current Customers) Yes
24/7 Support Yes

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About the Editorial Team

Sam Levine, CFA, CMT
Sam Levine, CFA, CMT

Sam Levine has over 30 years of experience in the investing field as a portfolio manager, financial consultant, investment strategist and writer. He also taught investing as an adjunct professor of finance at Wayne State University. Sam holds the Chartered Financial Analyst and the Chartered Market Technician designations and is pursuing a master's in personal financial planning at the College for Financial Planning. Previously, he was a contributing editor at BetterInvesting Magazine and a contributor to The Penny Hoarder and other media outlets.

Blain Reinkensmeyer
Blain Reinkensmeyer

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.

Carolyn Kimball
Carolyn Kimball

Carolyn Kimball is managing editor for Reink Media and the lead editor for the Annual Review. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.

Steven Hatzakis
Steven Hatzakis

Steven Hatzakis is the Global Director of Research for Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.