feed linkedin-square facebook-square twitter-square question-circle-o

Ally Invest Review 2019

4.5 5 stars · Jul 2019
Compare to best alternative broker
Ally Invest logo

Ally Invest is a US stockbroker regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA). Its parent company, Ally Financial Inc dates back to 1911 as the former company, General Motors Acceptance Corporation (GMAC) was founded then. Ally Financial Inc is listed on the New York Stock Exchange and has a banking subsidiary, called Ally Bank.

Ally Invest is considered safe because it has a long track record, regulated by top-tier regulators, and the parent company is listed on a stock exchange and has a banking background.

Recommended for investors and traders looking for low fees and focusing on the US market.

Pros
  • Low trading and non-trading fees
  • Easy and fully digital account opening
  • Great education
Cons
  • No credit/debit cards and electronic wallets for money transfer
  • Basic research tools
  • Only US market covered

Ally Invest pros and cons

Ally Invest offers low trading and non-trading fees. The account opening is easy and fully digital. There are a lot of educational tools and they have a high quality.

It doesn't provide credit/debit cards and electronic wallets as for money transfer. Lack of sophisticated screener tools and diverse recommendations. The product portfolio covers only the US market.

Compare to other brokers

Ally Invest review
Fees 4 stars

Ally Invest has low trading fees and low non-trading fees. It even charges no commission for some ETFs. On the negative side, the fees for financing rates are high.
Pros
  • Low trading fees
  • No inactivity fee
  • Some free ETFs
Cons
  • High financing rate
Ally Invest fees snapshot
Assets Fee level Fee terms
US stock Low $4.95 per trade, if you trade 30+ per quarter or maintain a balance above $100,000 the commission is $3.95 per trade
EURUSD Average The fees are built into spread, 1.3 pips is the spread cost
US tech fund Low $9.95 per trade
Inactivity fee Low No inactivity fee

We ranked Ally Invest's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let's go over some lingo relating to broker fees. What you need to keep an eye on are trading fees, financing rates, and non-trading fees.

We also compared Ally Invest's fees with those of two similar brokers we selected, Interactive Brokers and E-Trade. This selection is based on factors like products offered, client profile, fee structure, etc.

Let's start with the trading fees.

Trading fees

Ally Invest trading fees are low. The fee structure is transparent and easy to understand. 

At stocks, ETFs, and options, if you make at least 30 trades per quarter or maintain an average daily balance of $100,000, you get a 20% discount. In this review, we calculated with the standard trading fees, and not the discounted trading fees.

In the case of forex, Ally Invest acts as an introducing broker to GAIN Capital Group LLC, therefore we calculated with the Forex.com fees.

Stock fees and ETF fees

Ally Invest has generally low stock trading fees.

Stock fees of a $2,000 trade
  Ally Invest Interactive Brokers E-Trade
USA $5.0 $1.0 $7.0

The fees for US stocks and ETFs are calculated as $4.95 per trade. From 30+ quarterly trades, it reduces to $3.95 per trade. Ally Invest offers ~120 free ETFs as well.

Forex fees

Ally Invest forex fees are generally average.

Forex fees of a $20,000 30:1 position open, 1-week-hold, and close
  Ally Invest Interactive Brokers E-Trade
EURUSD benchmark fee $21.0 $23.0 -
EURGBP benchmark fee $16.7 $17.0 -

The fees are built into spreads. You don't get a discount if you trade frequently or maintain a higher account balance.

Fund fees

Ally Invest fund fees are generally low.

Fees for a $2,000 fund purchase
  Ally Invest Interactive Brokers E-Trade
USA tech fund buy $10.0 $15.0 $20.0

Ally Invest charges $9.95 per trade for mutual funds. It doesn't disclose specifics about the available free mutual funds. In mutual fund pricing, you don't get a discount if you trade frequently or maintain a higher account balance.

Bond fees

Ally Invest has generally low bond fees.

Fees of a $10,000 bond trade
  Ally Invest Interactive Brokers E-Trade
USA $10.0 $5.0 $0.0

The commission for bonds is $1 per bond with a $10 minimum. You don't get a discount if you trade frequently or maintain a higher account balance.

Options fees

Ally Invest options fees are generally average.

Stock index options fees of 10 contracts
  Ally Invest Interactive Brokers E-Trade
USA $11.5 $7.0 $14.5

The options fees comprise a flat and a volume-based fee: $4.95 per trade plus $0.65 per contract. From 30+ trades the trading fees reduce to $3.95 per trade plus $0.50 per contract.

Financing rates

Ally Invest financing rates are generally high.

Financing rates are charged when you hold your leveraged positions for more than a day. It can be a significant proportion of your trading costs.

Ally Invest annual financing rates
  Ally Invest Interactive Brokers E-Trade
Apple financing rate 10.0% 5.8% 10.8%
EURUSD financing rate 5.1% 4.9% -
EURGBP financing rate 3.6% 3.3% -

In the case of forex, we calculated with Forex.com financing rates. The financing rates are calculated as the relevant LIBOR + 2.5%.

Ally Invest financing rate for stocks and options is volume-tiered. It applies a base rate plus a premium/discount depending on the financed amount. As of the review, the base rate was set at 4.5%.

Ally Invest - annual financing rates
Debit balance Rate%
$1,000,000 or more 5.50%
$500,000 - $999,999 6.25%
$250,000 - $499,999 6.75%
$100,000 - $249,999 7.75%
$50,000 - $99,999 9.00%
$25,000 - $49,999 9.75%
$10,000 - $24,99 10.00%
Under $10,000 10.00%

Non-trading fees

Ally Invest has low non-trading fees.

It charges no inactivity fee and account fee.

There is no withdrawal fee if you use ACH transfer. However, the withdrawals to other banks using wire transfer cost $30. We tested ACH, so we had no withdrawal fee.

Ally Invest non-trading fees
  Ally Invest Interactive Brokers E-Trade
Account fee No No No
Inactivity fee No Yes No
Withdrawal fee $0 $0 $0

Ally Invest review
Account opening 4 stars

The account opening is fully digital and user-friendly. On the flip side, the account opening is available only for US clients.
Pros
  • Fully digital
  • No minimum deposit
  • User-friendly
Cons
  • It is available only for US clients

Can you open an account?

Only US residents can open an account at Ally Invest.

What is the minimum deposit at Ally Invest?

The required minimum deposit at Ally Invest is $0. The minimum deposit can be more if you trade on margin or prefer investing in portfolios.

Ally Invest minimum deposits by account types
Trading preferences Minimum deposit
Brokerage account $0
Forex account* $50
Managed Portfolios $100
Margin account** $2,000

*Forex trading is provided by Forex.com

**You trade with money borrowed from the broker, also called trading on leverage.

Account types

Ally Invest offers several account types:

Ally Invest account types
Account type Short description
Individual Account is owned by a single individual
Joint accounts Two or more account owners
Business accounts Account is owned by a legal entity
Retirement accounts (Traditional IRA, Roth IRA, etc.) Individual retirement accounts
Education Savings Account Savings account for quality educational purposes
Pension accounts Accounts for pension purposes
Custodial account Special accounts for custodial purposes, 
Managed Portfolios Accounts with portfolios managed by Ally Invest

In this review, we tested the Individual Brokerage Account without additional margin and option levels.

How to open your account

The account opening fully digital and user-friendly. The online application takes roughly 20 minutes and our account was verified within the next 3 business day.

On the flip side, Ally Invest available for US resident clients. Some accounts require a paper-based application process. 

8 Steps at Ally Invest to open an account:

  1. Add personal information and email address
  2. Choose the account type
  3. Continue with some more personal info, and details for later verification of the account like Social Security Number
  4. Add your personal phone number (which will your phone for the further registration process and contact point), and choose a security question
  5. Disclose your employment info
  6. Give your investment profile and trading preferences
  7. Add some investment objectives, state your margin and option preferences
  8. Upload the photocopy of the relevant ID card to verify your date of birth and the SSN

If you want to trade with forex, you need to register a separate forex account as well.

Ally Invest review - Account opening

Ally Invest review
Deposit and withdrawal 2 stars

Ally Invest deposit and withdrawal can be improved. You can use only bank transfer, there is only USD as a base currency, and a high fee is charged for wire transfer withdrawals. As a plus, there is no deposit fee and transferring money is easy and user-friendly.
Pros
  • No deposit fee
  • User-friendly
Cons
  • Credit/Debit card not available
  • Only one account base currency
  • High outgoing wire transfer fee

Account base currencies

At Ally Invest, you can open your trading account only in USD. It lags behind Interactive Brokers, but the same as at E-Trade where only USD is provided as a base currency.

Base currencies at Ally Invest vs similar brokers
  Ally Invest Interactive Brokers E-Trade
Number of base currencies 1 21 1

Why does this matter? Two things. First, if you fund your account in the same currency as your bank account, you won't be charged a currency conversion fee. Second, if you trade assets in the same currency as your account base currency, you will not have to pay a conversion fee.

A convenient way to save on the currency conversion fees can be to open a multi-currency bank account. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. The account opening only takes a few minutes on your phone.

Compare digital banks

Deposit fees and options

Ally Invest charges no deposit fees. Clients can use check, ACH, and wire transfers for the deposit, hence credit/debit cards and electronic wallets are not provided. This is similar to competitors.

Ally Invest deposit options
  Ally Invest Interactive Brokers E-Trade
Bank transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No No

We tested ACH transfer and it took 2 business days. You can only deposit money from accounts which are previously linked to your brokerage account. 

Ally Invest review - Deposit and withdrawal - Deposit

Withdrawal fees and options

Ally Invest charges no withdrawal fees if you use ACH withdrawal, but wire transfers cost $30.

Ally Invest withdrawal fees and options
  Ally Invest Interactive Brokers E-Trade
Bank Transfer Yes Yes Yes
Credit/Debit card No No No
Electronic wallets No No No
Withdrawal fee $0 $0 $0

How long does it take to withdraw money from Ally Invest? We tested the ACH withdrawal and it took 2 days business days.

How do you withdraw money from Ally Invest? You can withdraw money from Ally Invest by following these steps:

  • Log into the account
  • Go to the "Transfers"
  • Select the "Bank Transfers" menu, select Withdraw
  • Choose your Ally Invest account in the "From" field and your previously connected external account in the "To" field
  • Add the amount you wish to withdraw and set the frequency and date of the withdrawal
  • Preview and initiate the withdrawal

Compare to other brokers

Ally Invest review
Web trading platform 4 stars

Ally Invest's web trading platform is user-friendly, easy to customize, and offers a lot of order types. On the negative side, there is no two-step login and does not give a clear fee report.
Pros
  • User-friendly
  • Good customizability (for charts, workspace)
  • Good variety of order types
Cons
  • No clear fee report available
  • No two-step (safer) login
Ally Invest platforms to choose from
Trading platform Score Available
Web 4 / 5 stars Yes
Mobile 3 / 5 stars Yes
Desktop - No

At Ally Invest, you can use different trading platforms which differ three web trading platforms:

Ally Invest has three trading platforms which differ in the tradable products and the devices the platforms are offered for:

Ally Invest's trading platforms
  Ally Invest Live Ally Invest Forex MetaTrader 4
Tradable products Stock, ETF, mutual fund, bond, options Forex Forex
Web trading platform offered Yes Yes No
Mobile trading platform offered Yes Yes Yes
Desktop trading platform offered No Yes Yes
Own or third-party provided Own Provided by Forex.com Provided by MetaQuotes Software

In this review, we tested Ally Invest Live web trading platform. The web trading platform is available only in English.

If you are interested in Ally Invest Forex, you can read more in this Forex.com review.

Look and feel

The Ally Invest web trading platform is user-friendly and easy to customize.

Ally Invest review - Web trading platform

Login and security

Ally Invest provides only a one-step login authentication. A two-step login would be more secure.

When you first log in on a new device, you have to give an answer to your security question. After the registration, you can access your account using your regular ID and password combo.

Search functions

The search functions are good, you can search by typing both a company's name or asset's ticker.

There is also an auto-suggestion which shows relevant results.

Ally Invest review - Web trading platform - Search

Placing orders

Ally Invest offers a wide variety of order types:

  • Market
  • Limit
  • Stop-loss
  • Stop limit
  • Trailing stop
  • Market on close

If you are not familiar with the basic order types, read this overview.

You can also use basic order time limits:

  • Good 'til canceled (GTC)
  • Day

Ally Invest review - Web trading platform - Order panel

Alerts and notifications

You can easily set up price alerts. The alerts can be found in the Investments > Tools > Alerts section.

However, you cannot get alert on your email or mobile, it pops up only within the trading platform. 

Portfolio and fee reports

Ally Invest has a clear portfolio report, however, lacks a clear fee report. You can't see how much commission you paid to the broker.

Visit broker

Ally Invest review
Mobile trading platform 3 stars

The Ally Invest mobile trading is user-friendly and well-designed. However, it lacks a two-step login, doesn't provide price alerts, and mutual funds or bonds can't be traded.
Pros
  • User-friendly
  • Good search function
  • Good variety of order types
Cons
  • No two-step (safer) login
  • No price alerts
  • Mutual funds and bonds are not covered

This table shows which mobile trading platforms are available at Ally Invest.

In this review, we tested Ally Invest Live's mobile trading platform. It is available both on iOS and Android. We tested it on iOS. The mobile trading platform is available in English.

We didn't like that you can trade only with stocks, ETF, and options on Ally Invest Live's mobile trading platform. It lacks bonds and mutual funds.

Look and feel

The Ally Invest mobile trading platform is user-friendly and easy to customize. 

Ally Invest review - Mobile trading platform

Login and security

Ally Invest provides only a one-step login. A two-step authentication would be safer, but you can set up a unique 6-digit code for safer access.

Search functions

The search functions are good, similar to the web-based platform. You'll easily find what you are looking for.

Ally Invest review - Mobile trading platform - Search

Placing orders

You can use similar order types, but a few more order time limits compared to the web trading platform.

These order types are available:

  • Market
  • Limit
  • Stop-loss
  • Stop limit
  • Trailing stop

There are also order time limits you can use:

  • Good 'til canceled (GTC)
  • Good 'til time (GTT)
  • Pre-Market
  • Post-Market

Ally Invest review - Mobile trading platform - Order panel

Alerts and notifications

You can't set alerts and notifications on the Ally Invest mobile platform.

Visit broker

Ally Invest review
Desktop trading platform

We didn't test Ally Invest's available desktop trading platforms as they are only for forex trading. If you are interested in Ally Invest Forex desktop trading platform, read this review.

Visit broker

Ally Invest review
Markets and products 3 stars

At Ally Invest, you can trade with different asset classes, from stocks to options, and even with forex. However, the offered products cover only the US market and you cannot trade with futures.
  Ally Invest Interactive Brokers E-Trade
Stock Yes Yes Yes
ETF Yes Yes Yes
Forex Yes Yes No
Fund Yes Yes Yes
Bond Yes Yes Yes
Options Yes Yes Yes
Futures No Yes Yes
CFD No Yes No
Crypto No Yes No

​​​​​​Ally Invest has a good product range, however, the company is average or lags behind compared to the peers in the case of stocks and options.

Stock and ETF

Ally Invest covers only the US market. It is similar to E-Trade but lags behind Interactive Brokers.

  Ally Invest Interactive Brokers E-Trade
Stock markets (#) 5 74 5
ETFs (#) 2,300 20,000 2,300

You can trade with stocks on these stock exchanges: NYSE, NASDAQ, AMEX, OTCBB, other OTCs.

Forex

The forex offer covers both the major and minor currency pairs. It is similar to Interactive Brokers. E-Trade doesn't offer forex.

  Ally Invest Interactive Brokers E-Trade
Currency pairs (#) 92 105 -

Fund

Ally Invest has a great mutual fund coverage. It is similar to E-Trade and has a significantly broader range than Interactive Brokers.

  Ally Invest Interactive Brokers E-Trade
Fund providers (#) 600 200 530

You will find funds from the biggest fund providers like BlackRock or Vanguard and from smaller ones too.

Bond

Ally Invest has a wide bond offer. It is much better than E-Trade or Interactive Brokers.

  Ally Invest Interactive Brokers E-Trade
Bonds (#) 221,000 110,000 88,000

The bond offer covers both government and corporate bonds.

Options

At Ally Invest, you can trade with options only on CBOE exchange. This offer similar to E-Trade but lags behind the other peers.

  Ally Invest Interactive Brokers E-Trade
Options markets (#) 1 45 1

Ally Invest Managed Portfolios

Ally Invest offers also a robo-advisory service, called Managed Portfolios. It is great if you need help to manage your investments.

First, you have to answer questions about your investment goal, risk tolerance, time horizon, and available funds. Based on your answers, a portfolio is created and the robo-advisor will automatically rebalance the portfolio when needed.

There is only a $100 minimum amount to start and the yearly advisory fee is low, 0.30% of the account balance.

Ally Invest review - Managed Portfolios

Ally Invest review
Research 3 stars

Ally Invest research tools are limited and can be improved. Sophisticated screener tools and diverse recommendations are missing. As a plus, you can find a handy charting tool, fundamental data for stocks and quality support for option strategies.
Pros
  • Good interactive chart
  • Data on asset fundamentals
  • Good option strategy analyzer
Cons
  • Not user-friendly
  • Basic recommendations
  • Missing screeners

Ally Invest focuses on stock and option research tools. however, these tools could be improved.

We also missed a good screener in these categories and the other marketed products as well. Regarding bonds the platform offers a completely different structure, where you can find a useful screener, too.

ETFs and mutual funds are treated the same as stocks, however, you need to know what are you looking. In the stock research area with the ticker, you can search for ETF and fund ratings as well.

Trading ideas

Ally Invest provides trading ideas. In the case of stocks, the platform implements different third-party providers like Morningstar, CFRA.

ETFs and mutual funds are rated by Gold, Lipper, CFRA, and Morningstar, this latter two gives explicit reports. On the flip side, the research is based on tickers. An integrated screener would be a useful plus.

Option trades are supported with an overall strategy evaluation tool (which calculates the aggregated greeks, etc.), meanwhile, you can test your strategy against different volatility settings. It would be great if you could save and download the results. 

Ally Invest review - Research - Recommendations

Fundamental data

Ally Invest offers fundamental data on stocks. You will find mainly financial metrics (ie. performance measures, margin data) under the Fundamentals menu. We liked that Ally Invest selects 4 other stocks and creates a quick peer comparison. We missed the customizable peer group option, and the detailed, financial statement dataset.

Ally Invest review - Research - Fundamental data

Charting

Ally Invest has good charting tools, which are easy to use and save it later. You have access to 120 technical indicators and approximately 30 charting options.

Ally Invest review - Research - Charting

News feed

The news is OK. It is easily readable but lacks visual elements, like charts or pictures. It is provided by third-party, MT Newswires.

Compare research pros and cons

Ally Invest review
Customer service 4 stars

Ally Invest's customer service is available 24/7 and give relevant answers. On the flip side, the speed of telephone support and live chat were average.
Pros
  • Live chat
  • 24/7 availability
Cons
  • Average speed of customer support

You can contact Ally Invest via:

  • telephone
  • email
  • live chat

The customer service is available only in English.

Ally Invest phone support gave relevant answers, but the speed was average.

On email, we got relevant answers, but it took a couple of days to answer.

Ally Invest's live chat can be improved. It had average speed, and the relevancy of the answers was mediocre.

It is also a big plus that Ally Invest support team is available 24/7.

Ally Invest review - Customer Service

Visit broker

Ally Invest review
Education 4 stars

Ally Invest offers a bunch of platform videos and good quality articles. However, a demo account is missing.
Pros
  • Trading platform tutorial
  • Educational videos
Cons
  • Except forex no demo account

At Ally Invest you can learn in the following ways:

  • Platform tutorial videos
  • General educational videos
  • Webinars
  • Quality educational articles

The educational materials cover a wide range of topics and have overall good quality.

The videos and educational articles are beginner friendly and have useful contents. You can reach the written material here. The platform tutorial "How to" videos are linked to the relevant parts of the platform. 

The webinars are focusing on various subjects and mainly on a beginner level. It is also possible to participate in basic financial education training. You can find them here.

Ally Invest review - Education

Visit broker

Ally Invest review
Safety

Ally Invest is regulated by top-tier US regulators, like the SEC and the FINRA. You are also protected by a high investor protection amount, $500,000 which includes $250,000 for cash. On the negative side, negative balance protection is not provided.
Pros
  • Regulated by top tier financial authority
  • High level of investor protection
  • Banking background
Cons
  • No negative balance protection
  • No investor protection in case of forex

Is Ally Invest regulated? Yes, it is regulated by the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), and Commodity Futures Trading Commission (CFTC).

Ally Invest is based in USA and was founded in 1919. Is Ally Invest safe? To be certain, it is best to check two things: how you are protected if something goes wrong and what the background of the broker is.

How you are protected

This is important for you because the investor protection amount and the regulator differ from entity to entity.

Ally Invest operates several legal entities, but all customers (except forex) are covered by the US investor protection scheme, called SIPC. Forex 

The SIPC investor protection scheme protects against the loss of cash and securities in case the broker goes bust. The limit of SIPC protection is $500,000, which includes a $250,000 limit for cash. This amount is substantially higher than the amount most investor protection schemes provide. 

If you would like to trade with forex, you won't be covered by any investor protection scheme.

For summarizing the different regulators, legal entities, investor protection amounts, we compiled this handy table:

Ally Invest legal entities
Country of clients Protection amount Regulator Legal entity
US (other than forex) SIPC: $500,000 ($250,000 cash limit)

Securities and Exchange Commission (SEC)

Financial Industry Regulatory Authority (FINRA)

Ally Invest Securities LLC
US (forex) No protection Commodity Futures Trading Commission (CFTC) Ally Invest Forex LLC

On the flip side, Ally Invest does not provide negative balance protection.

Background

Ally Invest was established in 1919. The longer the track record of a broker, the more proof we have that it has successfully survived previous financial crises.

Ally Group has a banking license, and as such, it is subject to tougher regulation than brokers.

Ally Group (Ally Financial Inc.) is listed on the New York Stock Exchange, which is a big plus for safety as Ally Invest releases financial statements regularly and transparently.

Having a banking license, being listed on a stock exchange, providing financial statements, and regulated by a top-tier regulator are all great signs for Ally Invest's safety.

Filter the brokers by investor protection

Ally Invest review
Bottom line

Ally Invest is one of the biggest US stockbrokers regulated by top-tier regulators.

Ally Invest has low trading and non-trading fees and offers a good product range. The account opening is easy and fully digital. We liked the quality of the educational tools.

It has some drawbacks though. Ally Invest doesn't provide credit/debit cards and electronic wallets for money transfers. The research tools are really basic, it lacks sophisticated screener tools and diverse recommendations. The product portfolio covers only the US markets.

As the fees are great, no inactivity fee is charged, feel free to try Ally Invest.

Ally Invest main features and highlights

🗺️ Country of regulation USA
💰 Trading fees class Low
💰 Inactivity fee charged No
💰 Withdrawal fee amount $0
💰 Minimum deposit $0
🕖 Time to open an account 1-3 days
💳 Deposit with credit card Not available
👛 Depositing with electronic wallet Not available
💱 Number of base currencies supported 1
🎮 Demo account provided No
🛍️ Products offered Stock, ETF, Forex, Fund, Bond, Options

Visit broker

Ally Invest logo

Ally Invest is a US stockbroker regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA). Its parent company, Ally Financial Inc dates back to 1911 as the former company, General Motors Acceptance Corporation (GMAC) was founded then. Ally Financial Inc is listed on the New York Stock Exchange and has a banking subsidiary, called Ally Bank.

Ally Invest is considered safe because it has a long track record, regulated by top-tier regulators, and the parent company is listed on a stock exchange and has a banking background.

Recommended for investors and traders looking for low fees and focusing on the US market.

Compare to other brokers

Overall 5 stars

Pros
  • Low trading and non-trading fees
  • Easy and fully digital account opening
  • Great education
Cons
  • No credit/debit cards and electronic wallets for money transfer
  • Basic research tools
  • Only US market covered

Fees 4 stars

Pros
  • Low trading fees
  • No inactivity fee
  • Some free ETFs
Cons
  • High financing rate

Account opening 4 stars

Pros
  • Fully digital
  • No minimum deposit
  • User-friendly
Cons
  • It is available only for US clients

Deposit and withdrawal 2 stars

Pros
  • No deposit fee
  • User-friendly
Cons
  • Credit/Debit card not available
  • Only one account base currency
  • High outgoing wire transfer fee

Web trading platform 4 stars

Pros
  • User-friendly
  • Good customizability (for charts, workspace)
  • Good variety of order types
Cons
  • No clear fee report available
  • No two-step (safer) login

Mobile trading platform 3 stars

Pros
  • User-friendly
  • Good search function
  • Good variety of order types
Cons
  • No two-step (safer) login
  • No price alerts
  • Mutual funds and bonds are not covered

Markets and products 3 stars

The available asset classes to trade:

  • Stock
  • ETF
  • Forex
  • Fund
  • Bond
  • Options

Research 3 stars

Pros
  • Good interactive chart
  • Data on asset fundamentals
  • Good option strategy analyzer
Cons
  • Not user-friendly
  • Basic recommendations
  • Missing screeners

Customer service 4 stars

Pros
  • Live chat
  • 24/7 availability
Cons
  • Average speed of customer support

Education 4 stars

Pros
  • Trading platform tutorial
  • Educational videos
Cons
  • Except forex no demo account

Safety

Pros
  • Regulated by top tier financial authority
  • High level of investor protection
  • Banking background
Cons
  • No negative balance protection
  • No investor protection in case of forex

AUTHOR OF THIS REVIEW

Gergely Korpos
Gergely Korpos
Co-founder, CPO
Gergely's aim is to bring more clarity into personal investing. He has 10 years of experience in financial markets with GE Money, KPMG and MOL. He concluded thousands of trades as a commodity trader and financial portfolio manager

METHODOLOGY

Everything you find on Brokerchooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Follow Brokerchooser on Twitter

Share

Comments