Ally Invest is a popular online brokerage that offers a range of investment options, including stocks, bonds, mutual funds, and exchange-traded funds (ETFs). The platform is known for its low fees and user-friendly interface, making it a top choice for both novice and experienced investors alike.

One of the standout features of Ally Invest is its $0 account minimum and $0 trading commissions on eligible U.S. securities, which make it an attractive option for investors who are just starting out or who prefer to keep their costs low. Additionally, Ally Invest offers a range of educational resources and tools to help investors make informed decisions about their investments, including market analysis, research reports, and customizable charts and graphs.

Despite its many benefits, Ally Invest may not be the best choice for all investors. Some users have reported issues with the platform’s customer service and technical support, and others have noted that the platform may not be as robust as some of its competitors. As with any investment platform, it’s important to carefully consider your own investment goals and needs before deciding whether Ally Invest is the right choice for you.

Ally Invest Overview

Ally Invest is a low-cost online brokerage firm that offers a variety of investment options, including stocks, options, exchange-traded funds (ETFs), mutual funds, bonds, and more. The firm was created in 2016 after Ally Financial acquired TradeKing, a popular online brokerage firm. As a result, Ally Invest combines the low-cost structure of TradeKing with the financial strength and stability of Ally Financial.

One of the most attractive features of Ally Invest is its low fees. The firm charges $0 commission for stock, ETF, and options trades, making it an affordable option for investors who want to keep their costs low. Additionally, Ally Invest offers a wide range of investment products, including more than 12,000 mutual funds, which can be traded without any load fees or transaction fees.

Ally Invest also offers a variety of trading platforms, including a web-based platform, a mobile app, and a desktop platform. Each platform is designed to provide a user-friendly experience, with intuitive interfaces and robust trading tools. The web-based platform, for example, offers real-time quotes, advanced charting, and customizable watchlists.

In addition to its trading platforms, Ally Invest provides a variety of educational resources for investors of all levels. These resources include webinars, video tutorials, and articles on various investment topics. The firm also offers a robo-advisor service, which provides automated investment management for a low fee.

Overall, Ally Invest is a great option for investors who want a low-cost, user-friendly online brokerage firm with a wide range of investment options.

Account Types

Ally Invest offers a range of account types to suit different investment needs and goals. Here are the most common account types available:

• Individual brokerage account: This is a standard account that allows individuals to invest in a range of securities, including stocks, bonds, ETFs, mutual funds, and options. There are no account minimums or annual fees for this type of account.
• Joint brokerage account: This account type is designed for two or more people who want to invest together. It has the same features as the individual brokerage account, but it requires both account holders to sign off on trades and withdrawals.
• Traditional IRA: This is a tax-deferred retirement account that allows individuals to contribute pre-tax dollars, reducing their taxable income. The contributions and earnings grow tax-free until the account holder withdraws the money in retirement.
• Roth IRA: This is a post-tax retirement account that allows individuals to contribute after-tax dollars. The contributions and earnings grow tax-free, and withdrawals in retirement are also tax-free.
• Rollover IRA: This account type is designed for individuals who want to transfer funds from a previous employer’s retirement plan, such as a 401(k), into an IRA.
• Custodial account: This account type allows adults to invest on behalf of a minor. The adult controls the account until the minor reaches the age of majority.

Ally Invest also offers specialty accounts, such as Coverdell Education Savings Accounts (ESAs) and SEP IRAs for self-employed individuals.

Overall, Ally Invest provides a variety of account types to suit different investment needs and goals. Investors can choose from standard brokerage accounts, retirement accounts, and specialty accounts. There are no account minimums or annual fees for most account types, making it an affordable option for investors of all levels.

Fees and Commissions

Ally Invest is known for its low fees and commissions. Here are the fees and commissions you can expect to pay when using Ally Invest:

• Stocks and ETFs: Ally Invest charges $0 commission per trade for stocks and ETFs. This makes it an excellent option for investors who want to buy and sell stocks and ETFs without paying high fees.
• Options: Ally Invest charges $0 commission per trade for options, with a $0.50 per contract fee. This is lower than many other brokers, making it a great choice for options traders.
• Mutual Funds: Ally Invest charges $9.95 per trade for mutual funds. However, there are no transaction fees for no-load mutual funds. Ally Invest also offers a selection of more than 12,000 mutual funds, so you can find the right one for your investment goals.
• Bonds: Ally Invest charges $1 per bond for online trades, with a minimum of $10 and a maximum of $250. This is a competitive fee for bond trading.
• Account Fees: Ally Invest does not charge any account management fees or annual fees. However, there is a $50 fee for full account transfers and a $10 fee for partial account transfers.

Overall, Ally Invest’s fees and commissions are competitive with other brokers in the industry. With $0 commission for stocks, ETFs, and options, and a low per-contract fee for options, Ally Invest is an excellent choice for investors who want to keep their costs low.

Investment Options

Ally Invest offers a wide range of investment options for traders and investors. Here are some of the investment options available at Ally Invest:

Stocks

Ally Invest offers commission-free trading for stocks, ETFs, and options. They provide access to all major U.S. exchanges and over 12,000 stocks. The platform also offers real-time market data, customizable charting, and research tools to help traders make informed decisions.

Options

Ally Invest offers options trading at $0.50 per contract, with no base commission. The platform offers a variety of options trading strategies, including covered calls, spreads, and straddles. They also provide educational resources and tools to help traders learn about options trading.

Mutual Funds

Ally Invest offers over 12,000 mutual funds, including no-transaction-fee mutual funds. The platform provides research tools and resources to help traders find the right mutual funds for their investment goals.

Bonds

Ally Invest offers access to over 30,000 bonds, including corporate bonds, municipal bonds, and U.S. Treasury bonds. The platform provides research tools and resources to help traders find the right bonds for their investment goals.

Forex

Ally Invest offers forex trading with over 50 currency pairs. The platform provides real-time market data, customizable charting, and research tools to help traders make informed decisions.

Futures

Ally Invest offers futures trading for a variety of asset classes, including commodities, currencies, and stock indices. The platform provides real-time market data, customizable charting, and research tools to help traders make informed decisions.

Overall, Ally Invest provides a wide range of investment options for traders and investors. Their platform offers commission-free trading for stocks, ETFs, and options, as well as access to a variety of other investment options. With research tools, educational resources, and customizable charting, Ally Invest is a strong option for traders and investors looking to diversify their portfolio.

Tools and Resources

Ally Invest offers a variety of tools and resources to help traders and investors make informed decisions. The platform provides a user-friendly interface that is easy to navigate, and it offers a range of features that can help users manage their investments.

One of the most notable features of Ally Invest is its real-time streaming charts. These customizable charts come in six different configurations, including line, bar, and candlestick charts. Users can also add technical indicators and compare multiple securities on a single chart. This feature can be especially useful for traders who rely on technical analysis.

Ally Invest also offers a variety of research tools to help users stay informed about market trends and news. The platform provides access to market data, analyst reports, and news articles from a variety of sources. Users can also set up alerts to stay informed about price changes and other market events.

In addition to its research tools, Ally Invest offers a range of educational resources to help users learn more about investing. The platform provides a variety of articles, videos, and tutorials on topics such as stock trading, options trading, and retirement planning. Users can also participate in webinars and live events to learn from industry experts.

Overall, Ally Invest’s tools and resources can be a valuable asset for traders and investors looking to make informed decisions. Whether you’re a seasoned trader or just getting started, the platform’s user-friendly interface and range of features can help you manage your investments with confidence.

Mobile App

Ally Invest’s mobile app is a key feature of the platform. The app is available for both iOS and Android devices and can be downloaded from the respective app stores. The app has a user-friendly interface that allows users to access their accounts, trade stocks, and manage their investments on-the-go.

The app provides users with real-time market data, news, and research to help them make informed investment decisions. Users can also create customized watchlists and set up alerts to monitor specific stocks or investments. The app also includes a range of charting tools and technical indicators to help users analyze market trends and patterns.

One of the standout features of the app is its integration with Ally Bank’s mobile banking app. This allows users to easily transfer funds between their bank and investment accounts, view balances and transaction history, and even deposit checks using their mobile device.

The app also includes a range of order types, including market, limit, stop-loss, and stop-limit orders. Users can also set up trailing stops to automatically sell a stock if it falls below a certain price.

However, it’s worth noting that the app has some limitations compared to the desktop platform. For example, users can only trade stocks, ETFs, and options on the mobile app, while fixed-income and mutual fund trades need to be made through the desktop platform.

Overall, Ally Invest’s mobile app is a well-designed and useful tool for investors who want to manage their investments on-the-go. Its integration with Ally Bank’s mobile banking app and range of order types make it a standout option among investment apps.

Customer Support

Ally Invest offers customer support through phone, email, and chat. The broker’s customer service is available 24/7, which is a plus for those who need assistance outside of regular business hours. However, the speed of responses can be slow, and customers may need to wait on hold for extended periods before speaking with a representative.

In terms of phone support, Ally Invest’s representatives are knowledgeable and helpful, providing relevant answers to customers’ questions. However, the speed of the service can be average, and some customers may find themselves waiting on hold for longer than they would like.

Email and chat support are also available, but the speed of responses can vary. Ally Invest’s representatives are generally helpful and knowledgeable, but customers may need to wait a while before receiving a response.

Overall, Ally Invest’s customer support is decent, but there is room for improvement in terms of response times. Customers who require quick assistance may want to consider using phone support rather than email or chat.

Pros	Cons
24/7 customer support	Slow response times
Knowledgeable representatives	Long wait times on hold
Phone, email, and chat support	Varying response times for email and chat

In terms of customer satisfaction, Ally Invest has received mixed reviews. Some customers have reported positive experiences with the broker’s customer support, while others have complained about slow response times and unhelpful representatives.

Overall, while Ally Invest’s customer support is not perfect, it is still a decent option for those who require assistance with their accounts. Customers who prioritize quick response times may want to consider using phone support rather than email or chat.

Pros and Cons

Ally Invest is a popular online brokerage firm that offers a wide range of investment options and tools to its clients. Here are some of the pros and cons of using Ally Invest:

Pros

• Low Fees: Ally Invest offers some of the lowest fees in the industry, including $0 commissions on eligible U.S. securities and low options contract fees of $0.50 per contract. This makes it a great choice for cost-conscious investors.
• No Account Minimums: Unlike some other brokerage firms, Ally Invest does not require a minimum account balance to open an account. This is ideal for beginner investors who may not have a lot of money to invest.
• Robust Trading Platform: Ally Invest’s trading platform is user-friendly and offers a wide range of tools and features to help investors make informed decisions. This includes real-time streaming quotes, customizable charting tools, and a variety of order types.
• Investment Options: Ally Invest offers a wide range of investment options, including stocks, bonds, options, mutual funds, and ETFs. This makes it easy for investors to diversify their portfolios.

Cons

• Limited Research and Education: While Ally Invest offers some research and educational resources, they are not as extensive as those offered by some other brokerage firms. This may be a drawback for investors who rely heavily on research and education to make investment decisions.
• Mutual Fund Fees: While Ally Invest offers $0 commissions on online stock and ETF trades, they do charge fees for mutual funds. This may be a drawback for investors who prefer to invest in mutual funds.
• No Fractional Shares: Ally Invest does not offer fractional shares, which means that investors must buy whole shares of stocks and ETFs. This may be a drawback for investors who want to invest small amounts of money in high-priced stocks.

Overall, Ally Invest is a great choice for cost-conscious investors who want a user-friendly trading platform and a wide range of investment options. However, it may not be the best choice for investors who rely heavily on research and education or who prefer to invest in mutual funds.