Ally Invest Review

Ally Invest is an online brokerage known for its straightforward, user-friendly platform and basic research tools that work well for anyone taking a long-term, buy-and-hold approach to investing. If you already use Ally Bank and want to start investing, this platform provides an easy transition. If you’re just looking to trade stocks, ETFs, or mutual funds, you’ll find enough here to get started without feeling overwhelmed.

However, active traders who thrive on advanced trading tools and a dedicated desktop platform will find Ally Invest lacking. For me, the appeal lies in its simplicity and the seamless banking integration for Ally Bank customers. But if your investing style demands more horsepower and deeper analytical tools, you’ll want to look elsewhere.

Pros & Cons

Overall summary

Range of investments

When I first tested Ally Invest, I was surprised by just how many different investment products you can explore. It’s not just stocks and ETFs — if you’re looking for fixed income to help balance your portfolio, there are Treasurys, municipal bonds, corporate bonds, brokerage CDs, and agency bonds. I appreciated that flexibility, because it felt like I could stick to one platform for most of my investment needs, rather than juggling multiple accounts. Ally also supports mutual funds, rounding out a solid range of investments that you'd expect to find at a full-service online broker.

That said, one significant downside is that Ally Invest doesn't offer fractional shares, making it difficult for beginners who use a dollar-cost averaging strategy. Investing only in whole shares means larger upfront investments, limiting the ability to gradually build a diversified portfolio. Considering fractional investing is widely available at many other competitors, this omission feels outdated.

A focus on robo-investing

One standout offering during my testing was Ally Invest’s automated investing portfolios, which include four main strategies (core, income, tax-optimized, and socially responsible), each available in either a cash-enhanced or market-focused version.

Whatever option you select, there is a minimum deposit requirement of just $100, which is much lower than many other competing robo-advisors. The difference comes down to how much cash is kept on the sidelines; the more cash you hold, the less aggressive your strategy. While your cash is still invested in “cash equivalents,” it remains a more conservative approach. The market-focused option charges a 0.30% annual advisory fee (as of March 2025) which I find to be pretty reasonable, while the cash-enhanced option charges no advisory fee at all.

This combination of low entry requirements, clear strategy options, and overall ease of use makes Ally’s robo-advisor a compelling pick, especially for beginners who want to keep things simple but still want to have some level of customization.

Commissions and fees

I expect all online brokerages to offer commission-free trades for stocks and ETFs, and Ally Invest certainly follows suit. If you venture into lower-priced stocks, though, you’ll run into an extra penny-per-share fee for those priced under $2. Keep in mind there’s also a $4.95 minimum commission up to a 5% maximum of the value of the trade on these stock purchases, so you’ll want to do the math before diving into penny stocks.

What also caught my eye during my review was Ally’s competitive fixed-income pricing. Bonds and Treasurys cost $1 per bond, with a $10 minimum and a $250 maximum per transaction. For context, one bond typically equals $1,000 in face value, so if you decide to buy 10 bonds, you’re looking at $10 in fees (hitting that minimum). There’s also a $24.95 transaction fee for CDs. As for options, you’ll pay $0.50 per contract for equity options and $0.35 per contract for index options, both of which are in line with many other brokers. Overall, Ally’s fee structure feels fair to me and in-line with the competition.

Mobile trading apps

My first impression of Ally Invest’s mobile app is that it closely mirrors the Ally Invest web experience. It’s user-friendly enough for simple trades or casual check-ins, though more seasoned traders might find themselves longing for deeper functionality. However, the reliability and familiarity are great for beginner investors. Still, there’s room to polish the workflow, especially when it comes to research and accessing educational materials without leaving the app.

I appreciated the clean layout and straightforward navigation menu when I first opened the app. It even nudged me to check out educational resources in a conversational way, which was a nice touch. From the landing page, it was easy to view my account summary, including current holdings, without having to dig around too much.

The watchlists I set up synced smoothly between web and mobile, displaying basic info like the last trading price, dollar change, and percentage change. When checking the markets, the app gave me major indices and volume data, plus some news and top movers by volume sorted by exchange. Switching to a different exchange felt a bit clunky, though, and I noticed that Treasurys and key economic dates were missing. The screener, on the other hand, replicated what’s on the website, so if you’re used to the web version, you’ll find it familiar. As for trading, I found the stock trade ticket straightforward, just like on the web platform.

Other trading platforms and tools

When it comes to actual trading platforms and tools, Ally Invest is functional but bare-bones. You’ll find the typical web-based platform for placing trades, doing basic research, and reviewing account details. It works fine for basic investing but lacks the tools that many investors, especially active ones, expect.

A lack of advanced features

As I dug deeper into the tools, I found them lacking in several key areas. There's not even the bare minimum of portfolio tracking features or index comparisons. If you want to measure your performance against the market, you’ll have to do that manually or use an outside tool. Additionally, the UI can feel clunky at times and I didn’t appreciate how certain pages removed the navigation bar entirely, making it harder to find my way back. Maintenance tasks, like adding a beneficiary, require printing out a PDF and mailing it rather than completing them digitally, which feels quite old-fashioned.

Activity tracking is also very basic as there’s no easy way to search transactions, and the running cash balance isn’t clearly displayed. At one point, I had $100 in cash in my account, and I had to dig to figure out exactly what cash equivalent it was sitting in.

Tax resource center

One fantastic find was the tax resource center, which I genuinely appreciated. It provides a well-organized table of important tax deadlines, making it easy to keep track of key dates. I was impressed by the way education was integrated. It’s easy to follow and even links directly to IRS.gov for further guidance. Tax centers are often an afterthought, but Ally Invest clearly put effort into making theirs both useful and easy to navigate.

Overall, while Ally Invest’s platform gets the job done for basic investing, its lack of advanced tools, portfolio tracking, and intuitive navigation makes it feel more like a supplement to Ally Bank rather than a competitive standalone brokerage.

Research

Exploring Ally Invest’s research tools for the first time, I had high hopes for robust market insights that would help me find and validate new trading ideas. After all, I’m the kind of investor who loves diving deep into data. What I found was solid enough for casual or buy-and-hold investors, but left me longing for more advanced insights. And honestly, that’s okay — not every platform is built with the power user in mind.

Macro analysis

For macro analysis, the platform provides little beyond headline news and a brief look at major indices. You can click through to charts, but it’s not easy to get a full picture of the market’s moves or big economic catalysts. There’s also no economic calendar to be found. If you’re used to scanning for upcoming events like interest rate decisions or earnings releases, you’ll have to look elsewhere.

Market screeners

When screening for stocks, you’ll see a few predefined screens (like “value stocks” or “analyst top picks”) and just seven manual criteria to filter by, which is limited for anyone wanting deeper fundamental or technical analysis. Ally Invest does integrate TipRanks’ “Smart Score,” showing blogger sentiment, hedge fund exposure, and price targets. I found that feature intriguing, but it still isn’t enough for advanced traders looking for comprehensive fundamentals or charting.

Still, there were bright spots. The bond-finder tool was pleasantly thorough, walking me through my tax preferences, time horizon, and even my state of residence to pinpoint suitable fixed-income investments. It was one of the more helpful and user-friendly features I encountered. Overall, Ally’s research seems aimed at newcomers who just need the basics.

Education

It should be clear by now that Ally Invest’s platform is designed primarily with passive investors in mind, a theme that runs through nearly every part of its offering, including education.

Market education

For instance, there’s an article on falling interest rates that focuses on paying off credit cards and refinancing before diving into the market. That advice can be great for someone just starting out, but it barely touches on the bigger market picture, like which sectors might benefit most from a rate cut. You’ll see this pattern throughout Ally’s educational material: it’s well-intentioned but often stops short of deeper analysis.

I tried a quick “investing IQ” quiz and was proclaimed an investing wizard, only to be nudged to find an advisor. It was fun, but not very useful. Ally’s basic step-by-step guide on buying your first stock is helpful, though it gives just two sentences explaining what a stock is, then jumps straight to PDT (Pattern Day Trader) rules, which could scare off newcomers.

Fixed-income education

On the bright side, their fixed-income content really stood out to me. The “What is a Bond?” article dives into the different types of bonds, how economic factors can affect them, and even covers ratings and underwriting. It’s thorough enough to give a beginner a solid grounding in the bond market. Still, I’d love to see this level of detail more prominently integrated across product pages for easier access. That said, the focus on fixed income is a definite highlight, a theme that also appears in Ally’s broader research offerings.

Financial literacy for kids

Leaving the world of adult investing for a moment, another feature that caught my attention is the Financial Education Programs designed specifically for kids. As a mother, I know firsthand how valuable it is to introduce healthy money habits early.

For younger children in grades 1 through 3, Ally offers Adventures with Money, an interactive game that turns saving and spending into a fun exploration. Older kids can delve into Fintropolis, a Minecraft world where they face real-life financial decisions, like choosing between spending and saving, to earn gold and purchase homes. It’s a clever way to make big financial concepts feel approachable. Meanwhile, Wallet Wise is aimed at young adults, teaching the budgeting and investing basics they’ll need once they start managing their own finances.

I find that it is these unique educational resources that set Ally Invest apart when compared to the competitors.

Customer service

To score Customer Service, StockBrokers.com partners with customer experience research firm Confero to conduct phone tests from locations throughout the United States. For this year's testing, 130 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 for prospective customers, including account opening, trading tools, apps, rollovers, active trading, and more. Here are the results for Ally Invest.

• Average Connection Time: 1-2 minutes
• Average Net Promoter Score: 8.5 / 10
• Average Professionalism Score: 7.9 / 10
• Overall Score: 8.13 / 10
• Ranking: 5th of 13 brokers

Banking services

From my perspective, Ally is fundamentally a bank first and an investing platform second, which makes it a fantastic bridge from building your emergency fund to making your first investments. The high-yield savings account (HYSA) is a key offering, offering competitive rates and a seamless digital experience that helps you grow your cash cushion quickly. Once you’re ready, it’s easy to move that money over to Ally Invest and get started in the market, all within the same user-friendly ecosystem.

Ally’s banking lineup goes beyond savings, too. You’ll find interest-bearing checking accounts, money market accounts, CDs (including no-penalty CDs), plus home and auto loans all accessible through a single online hub. Having all these options in one place saves you from juggling multiple platforms and logins, and keeps the entire journey, from saving for emergencies to making your first trade, as straightforward as possible.

Final thoughts

Ally Invest works best for new or casual investors, especially those who already bank with Ally and appreciate the ease of moving money seamlessly from saving to investing. It’s geared toward long-term, passive strategies rather than active or advanced trading. However, if you need cutting-edge tools or in-depth research features, you might feel underwhelmed.

Here are my top takeaways for Ally Invest in 2025:

1. Great for Beginners & Passive Investors: Ally Invest emphasizes simplicity and convenience, making it easy to build your first portfolio or stick to a buy-and-hold approach.
2. Bank-First Mentality: Because Ally is primarily a bank, its high-yield savings account and seamless transfers make building an emergency fund and transitioning into investing hassle-free.
3. Lacks Advanced Tools & Research: While there’s enough here for basic investing and bond screening, more active traders or deep researchers may miss advanced analytics, comprehensive tools, and robust educational materials.

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What is Ally Invest?

Ally Invest is the brokerage division of Ally Financial, a company best known for its online banking services, including high-yield savings accounts, checking accounts, mortgages, and loans. It provides a platform for investing in stocks, ETFs, options, mutual funds, and fixed-income products, making it a natural extension for Ally Bank customers looking to start investing.

Is Ally Invest a good broker?

Ally Invest is a great choice for existing Ally Bank customers who want a simple way to start investing without switching platforms. It’s a solid fit for long-term, buy-and-hold investors who don’t need advanced tools or trading features. One of its standout strengths is its strong access to fixed-income markets and research, along with a broad selection of mutual funds.

However, if you’re a short-term trader, rely heavily on mobile trading, or need advanced charting and strategy tools, you may find Ally Invest a bit limiting. While the platform is convenient, those looking for a more feature-rich experience might want to explore other brokerage options.

Is Ally Invest good for beginners?

Yes, Ally Invest is a solid choice for beginners, especially if you already use Ally Bank and want a seamless way to start investing. The platform is easy to navigate, and while its education is geared more toward passive investors, it provides a decent starting point for those new to the market. Plus, I found the customer support to be more responsive than what I’ve experienced at many other brokers, which is a big plus when you're just getting started.

Does Ally charge brokerage fees?

Ally Invest offers commission-free trading on stocks, ETFs, and no-load mutual funds, making it a cost-effective choice for most investors. However, there are some exceptions to keep in mind. Stocks priced under $2, such as penny stocks, come with a minimum commission of $4.95 per trade, with fees capped at 5% of the trade's total value. Options trades cost $0.50 per contract, with no extra fees for early assignment or exercise. Bond trades are competitively priced at $1 per bond, with a $10 minimum and $250 maximum per transaction. Additionally, there are some incidental fees for account transfers and certain transactions, so it’s always good to check the fine print before making a move.

What is the minimum balance for Ally Invest?

Ally Invest has no minimum balance requirement, and you don’t need a minimum deposit to open an account. This is standard across online investing platforms. This makes it a great option for investors who want to start small and gradually build their portfolio over time. Whether you’re looking to invest in stocks, ETFs, or mutual funds, you can begin with whatever amount fits your budget. The only exception is a small minimum of $100 required for the robo-investing offerings.

How do I get my money out of Ally Invest?

Withdrawing money from Ally Invest is straightforward. Simply go to the "Transfers" section on the Ally Invest website to initiate a withdrawal. You can transfer funds via ACH, request a check, do an instant transfer to your Ally Bank account, or opt for a wire transfer. If you’re already banking with Ally, moving money between accounts is seamless and typically quicker than external transfers.

Is Ally Invest good for day trading?

Not really. While Ally Invest offers commission-free stock trading, it lacks many of the features that active traders rely on. There’s no Level 2 market data, limited chart-trading capabilities, and higher-than-average margin rates compared to brokers that cater to frequent traders. Options traders may also find the platform lacking in detailed analytics and advanced strategy tools. If you’re serious about day trading, you’ll likely be better off with a broker that offers more comprehensive tools.

Is Ally Invest trustworthy?

Yes, Ally Invest is a legitimate and trustworthy brokerage. It’s a member of FINRA and the Securities Investor Protection Corporation (SIPC), which means customer accounts are protected in the event of a broker’s bankruptcy, though, like with any broker, SIPC insurance does not cover market losses. Investing always carries risk, but from a regulatory and security standpoint, Ally Invest meets industry standards for investor protection.

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 payment for order flow.

About Ally Invest

Ally Invest is the online brokerage arm of Ally Financial (NYSE: ALLY), which also operates Ally Bank. Originally founded in 1919 by General Motors as GMAC to finance auto purchases, it renamed to Ally Financial in 2010, expanded into digital banking, and acquired brokerage firm TradeKing in 2016, rebranding it as Ally Invest. Today, Ally Financial is best known for FDIC-insured online banking, auto loans, home loans, and brokerage services under Ally Invest.

Ally Invest 2025 Results

For the StockBrokers.com 2025 Annual Awards, announced on Jan. 28, 2025, all U.S. equity brokers we reviewed were assessed on over 200 different variables across seven areas: Range of Investments, Platforms & Tools, Research, Mobile Trading, Education, Ease of Use, and Overall.

StockBrokers.com also presented “Best in Class” awards to brokers in the following additional categories: Active Traders, Bank Brokerage, Beginners, Casual Investors, Customer Service, Futures Trading, High Net Worth Investors, Investor Community, Options Trading, Passive Investors, Retirement Accounts. A “Best in Class” designation means finishing in the top five brokers for that category.

For more information, see how we test. New to investing? Check out our beginner's guide on how to invest.

Category awards

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Our research team conducts thorough testing on a wide range of features, products, services, and tools for U.S. investors, collecting and validating thousands of data points in the process; this makes StockBrokers.com home to the largest independent database on the web covering the online broker industry. We test all available trading platforms for each broker and evaluate them based on a host of data-driven variables.

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Ally Invest fees and features data

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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.

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