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Ally Invest Review

Blain Reinkensmeyer

Written by Blain Reinkensmeyer, Chris McKhann
Edited by Carolyn Kimball
Fact-checked by Steven Hatzakis

September 28, 2022

For current Ally customers looking to invest in stocks, Ally's universal-accounts experience and easy-to-use website offer a convenient solution.

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

Ally Invest pros & cons

thumb_up_off_alt Pros

  • As far as banking and brokerage combinations go, Ally delivers with universal account access, instant money transfers between accounts and $0 trades, winning it a Best in Class spot for banking services in our 2022 Annual Review.
  • The broker offers $0 stock and ETF trades alongside a $0 minimum deposit; options trades are $0.50 per contract.

thumb_down_off_alt Cons

  • Ally Invest struggles to compete as a stand-alone broker. Ally Invest trails industry leaders TD Ameritrade, Fidelity, and Charles Schwab in most areas, including trading platforms, tools, investment research, and education.
  • Usability and banking synergies aside, if you have no ties to Ally, Ally Invest does not provide enough value to warrant a recommendation.

Overall summary

Feature Ally Invest logoAlly Invest
Overall 4 Stars
Investment Options 4.5 Stars
Commissions & Fees 4.5 Stars
Mobile Trading Apps 3.5 Stars
Platforms & Tools 3 Stars
Research 3 Stars
Customer Service 4 Stars
Education 3.5 Stars
Ease Of Use 4.5 Stars

Ally Invest Trading Platform Screenshots

Website:

Mobile app:

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 our 2022 Broker Review, 159 customer service tests were conducted over six weeks. Here are the results for Ally Invest.

  • Average Connection Time: <1 minute
  • Average Net Promoter Score: 8.2 / 10
  • Average Professionalism Score: 6.9 / 10
  • Overall Score: 7.9 / 10
  • Ranking: 6th of 13 brokers

Is Ally Invest good for beginners?

For beginners looking to bank and invest from under one roof, Ally Invest could be a good place to get started, especially if you already have ties to Ally. For anything more than casual investing, Ally Invest trails industry leaders.

Is Ally Invest safe?

Given that Ally Invest also offers banking services, Ally Invest is a member of both FINRA and SIPC, offering protection on customer accounts in the event of a broker’s bankruptcy. It’s important to understand that, as with any broker, such insurance does not protect against market losses — investing is a risky endeavor.

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, auto financing, and home loans. Ally Invest services more than 500,000 brokerage accounts and $16.3 billion in assets.

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2022 Review Methodology

Our mission at StockBrokers.com 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 StockBrokers.com.

For the StockBrokers.com 12th Annual Review published in January 2022, a total of 3,075 data points were collected over three months and used to score 15 top brokers. This makes StockBrokers.com 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 fees and features data

The data collection efforts at StockBrokers.com 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 $9.95
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 $24,999.99 10.75%
Margin Rate $25,000.00 to $49,999.99 10.50%
Margin Rate $50,000.00 to $99,999.99 9.75%
Margin Rate $100,000.00 to $249,999.99 8.50%
Margin Rate $250,000.00 to $499,999.99 7.50%
Margin Rate $500,000.00 to $999,999.99 7.00%
Margin Rate Above $1,000,000.00 6.25%

Investment options

Feature Ally Invest logoAlly Invest
Stock Trading Yes
Margin Trading Yes
Fractional Shares No
OTCBB / Pink Sheets 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) 13500
Mutual Funds (Total) 15000
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

Beginners

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
View More

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 Author

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 StockBrokers.com 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.


Chris McKhann
Chris McKhann

Chris McKhann has been in the industry for more than 20 years. He has worked for many of the top names in the online trading space, including TD Ameritrade and optionMONSTER, which later became part of E*TRADE. His work has been cited in the Wall Street Journal, Reuters, the Financial Times, Forbes, CNBC, Nasdaq.com and Nikkei. He has also been an advisor and outside trader for several hedge funds. He was one of the first traders to delve into the VIX tradable products and to write about them (back in 2006). Chris is also an educator who teaches high school statistics, finance and computer science.


Carolyn Kimball
Carolyn Kimball

Carolyn Kimball is managing editor for Reink Media and the lead editor for the StockBrokers.com 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 ForexBrokers.com. 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.


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