Our top alternative brokers to Ally Invest
Merrill Edge
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Ally Invest Alternatives

The best alternatives to Ally Invest are

  1. Merrill Edge - US discount broker
  2. Fidelity - US stockbroker
  3. J.P. Morgan Self-Directed Investing - US-based discount broker
  4. Vanguard - US stockbroker

Let's see in a bit more detail how the Ally Invest alternatives compare to Ally Invest and each other:

Ally Invest alternatives comparison
Ally Invest Merrill Edge Fidelity J.P. Morgan Self-Directed Investing Vanguard
Overall score 4.7 stars 4.8 stars 4.8 stars 4.8 stars 4.5 stars
Fees score 4.4 stars 4.4 stars 3.6 stars 4.9 stars 4.2 stars
Account opening score 4.2 stars 5.0 stars 4.2 stars 5.0 stars 4.2 stars
Deposit and withdrawal score 2.1 stars 2.2 stars 3.8 stars 2.2 stars 2.4 stars
Web platform score 3.5 stars 4.3 stars 4.5 stars 2.9 stars 3.4 stars
Markets and products score 2.6 stars 2.5 stars 4.0 stars 2.1 stars 2.7 stars
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Why are these brokers considered good alternatives to Ally Invest? There are many areas based on which Ally Invest can be compared with others. When we say a given online broker is a good alternative to Ally Invest we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

Ally Invest alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • Ally Invest is recommended for investors and traders looking for low fees and focusing on the us market
  • Merrill Edge is recommended for investors and traders looking for low fees, quick account opening and simple platforms
  • Fidelity is recommended for investors and traders looking for solid research and great trading platforms
  • J.P. Morgan Self-Directed Investing is recommended for beginners and buy-and-hold investors focusing on the us stock market
  • Vanguard is recommended for long-term investors looking for great etf and mutual fund selection

Important factors of finding Ally Invest alternatives

So far BrokerChooser has reviewed 102 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether Ally Invest or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. Ally Invest is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost Ally Invest alternative.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you cannot make a deposit with your credit card at Ally Invest, some alternatives might allow you to do that.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Ally Invest alternative is a must.


Now let's dive into the details of how Ally Invest and its alternatives perform in the most important areas!

Ally Invest alternatives
Merrill Edge

Merrill Edge is a US-based brokerage platform launched in 2010 by Bank of America (BofA). BofA acquired Merrill Lynch during the 2008 financial crisis, and launched Merrill Edge to combine its online investing arm and Merrill Lynch's investment expertise.

Merrill Edge offers US stocks, ETFs, options and bonds. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Merrill Edge is considered safe because its parent company is a bank with a long track record and solid reputation, it discloses its financials, and is regulated by top-tier authorities. 

Recommended for investors and traders looking for low fees, quick account opening and simple platforms

Pros Cons
Low trading fees Limited to US clients and products
Easy and seamless account opening No demo account
Strong parent company Few options for deposit/withdrawal

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Fees
4.4

Merrill Edge has overall low trading and non-trading fees, including commission-free stock and ETF trades. However, fund fees are quite high.
Pros Cons
Commission-free trading (stocks, ETFs) High fund fees
Low non-trading fees
Ally Invest vs. Merrill Edge: Trading fees
Merrill Edge Ally Invest
Apple benchmark fee $0.3 $0.3
Vodafone benchmark fee - -
EURUSD benchmark fee - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening
5.0

Account opening at Merrill Edge is seamless and fully digital; it took us less than a day to have an open account. Only US clients are accepted.
Pros Cons
Fast Only US clients are accepted
Fully digital
No minimum deposit
Ally Invest vs. Merrill Edge: Minimum deposit, time to open an account
Merrill Edge Ally Invest
Minimum deposit $0 $0
Time to open account 1 day 1-3 days

If you are interested more in Merrill Edge minimum deposit, this overview will help you.

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Deposit and withdrawal
2.2

Merrill Edge has an easy-to-use deposit and withdrawal system with a bank account connection. Unfortunately, credit/debit cards cannot be used to fund the account.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee Slow withdrawal - over 3 days
User-friendly
Ally Invest vs. Merrill Edge: Withdrawal options
Merrill Edge Ally Invest
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

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Web trading platform
4.3

Merrill Edge has a user-friendly and simple trading platform with a secure login and price alerts. However, it offers only limited customizability and the search function is not so advanced.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Web trading platform of Merrill Edge, a Ally Invest alternative
Ally Invest vs. Merrill Edge: Trading platform scores
Merrill Edge Ally Invest
Web platform score 4.3 stars 3.5 stars
Mobile platform score 4.8 stars 3.3 stars
Desktop platform score 4.3 stars -

Learn more about Merrill Edge's web trading platform in the detailed Merrill Edge review.

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Markets and products
2.5

Merrill Edge has a limited product portfolio that consists of stocks, ETFs, mutual funds and bonds. Unfortunately, the product lineup covers only the US market.
Ally Invest vs. Merrill Edge: Markets and products
Merrill Edge Ally Invest
Stocks Yes Yes
ETFs Yes Yes
Forex No No
Funds Yes Yes
Bonds Yes Yes
Options Yes Yes
Futures No No
CFDs No No
Crypto No No

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Verdict

Overall, Merrill Edge is a solid, easy-to-use trading platform created by Bank of America, one of the US's largest banks.

We rated Merrill Edge highly due to its low fees, easy process of account opening, and reliability.

Some of the drawbacks include its limited product range, research capabilities and deposit/withdrawal options.

As trading and non-trading fees are generally low, the research tools are great and the account opening is seamless, feel free to try it.

Merrill Edge
Summary Merrill Edge is a US-based broker owned by Bank of America (BofA). It is regulated by the top-tier SEC and FINRA; BofA is listed on the NYSE.
Fees score 4.4 stars
Recommended for Investors and traders looking for low fees, quick account opening and simple platforms

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Ally Invest alternatives
Fidelity

Fidelity is a US stockbroker founded in 1946. It is regulated by top-tier authorities like the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Fidelity is considered safe because it has a long track record and is regulated by top-tier financial authorities.

Recommended for investors and traders looking for solid research and great trading platforms

Pros Cons
Commission-free US stocks and ETFs High mutual fund fees and margin rates
Great trading platforms and research Slower account verification
US and international stocks Some products not available (e.g. futures)

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Fees
3.6

Fidelity has low trading and non-trading fees, including commission-free US stock trading. On the negative side, margin rates and fees for some mutual funds can be high.
Pros Cons
Free stock and ETF trading High fees for non-free mutual funds
Low bond fees High margin rates
No inactivity fee
Ally Invest vs. Fidelity: Trading fees
Fidelity Ally Invest
Apple benchmark fee $0.3 $0.3
Vodafone benchmark fee $21.1 -
EURUSD benchmark fee - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening
4.2

Opening an account at Fidelity is easy and there is no minimum deposit. You can also choose from many account types. However, account verification is a bit slow.
Pros Cons
No minimum deposit Slower account verification
User-friendly Not fully digital in some cases
Many account types
Ally Invest vs. Fidelity: Minimum deposit, time to open an account
Fidelity Ally Invest
Minimum deposit $0 $0
Time to open account 1-3 days 1-3 days

If you are interested more in Fidelity minimum deposit, this overview will help you.

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Deposit and withdrawal
3.8

Fidelity offers an exceptionally wide range of base currencies. On the negative side, credit/debit cards are not accepted.
Pros Cons
Free withdrawal Credit/Debit card not available
No deposit fee
Several account base currencies
Ally Invest vs. Fidelity: Withdrawal options
Fidelity Ally Invest
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets Yes No
Withdrawal fee $0 $0

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Web trading platform
4.5

Fidelity's web platform is easy to use, has many order types and provides two-step authentication. On the negative side, it is not customizable.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Web trading platform of Fidelity, a Ally Invest alternative
Ally Invest vs. Fidelity: Trading platform scores
Fidelity Ally Invest
Web platform score 4.5 stars 3.5 stars
Mobile platform score 5.0 stars 3.3 stars
Desktop platform score 4.3 stars -

Learn more about Fidelity's web trading platform in the detailed Fidelity review.

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Markets and products
4.0

Fidelity offers a lot of different trading products, from stocks to options, including international stocks. However, forex and futures trading is not available.
Ally Invest vs. Fidelity: Markets and products
Fidelity Ally Invest
Stocks Yes Yes
ETFs Yes Yes
Forex No No
Funds Yes Yes
Bonds Yes Yes
Options Yes Yes
Futures No No
CFDs No No
Crypto Yes No

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Verdict

Fidelity is one of the biggest US stockbrokers and is regulated by top-tier authorities.

Fidelity offers commission-free US stocks and ETFs. The trading platforms and research are outstanding, with many tools including trading ideas and detailed fundamental data. The offered range of products includes international stock exchanges in addition to the US market, which is not common among US brokers.

Fidelity has some drawbacks, though. Some mutual funds have high fees, and the margin rates are high as well. You can't trade forex or futures.

As it has great research tools, a user-friendly web trading platform, and charges no inactivity fee, feel free to try Fidelity's services.

Fidelity
Summary Fidelity is a US stockbroker. It is regulated by top-tier authorities SEC and FINRA.
Fees score 3.6 stars
Recommended for Investors and traders looking for solid research and great trading platforms

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Ally Invest alternatives
J.P. Morgan Self-Directed Investing

J.P. Morgan Self-Directed Investing, formerly Chase You Invest, is a US-based discount broker established by J.P. Morgan in 2018. The parent company, J.P. Morgan, is one the biggest global Tier 1 investment banks and is listed on the New York Stock Exchange. It is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

J.P. Morgan Self-Directed Investing, formerly Chase You Invest, has a parent company with a a long track record, is listed on the stock exchange, has a banking background, discloses its financials regularly and is overseen by top-tier regulators, which are all good signs for its safety.

J.P. Morgan Self-Directed Investing platform notes the following:

INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE

Recommended for beginners and buy-and-hold investors focusing on the us stock market

Pros Cons
Commission-free US stocks, ETFs, funds and bonds Available only to US clients
Fast and fully digital account opening Limited product portfolio
Well-established parent company Basic research tools

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Fees
4.9

J.P. Morgan Self-Directed Investing offers commission-free trading, but transaction and other smaller fees may apply.
Pros Cons
Low non-trading fees Low fees like transaction costs may apply
Commission-free stock, ETF, fund and bond trades
Ally Invest vs. J.P. Morgan Self-Directed Investing: Trading fees
J.P. Morgan Self-Directed Investing Ally Invest
Apple benchmark fee $0.3 $0.3
Vodafone benchmark fee - -
EURUSD benchmark fee - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening
5.0

Account opening at J.P. Morgan Self-Directed Investing is seamless and fully digital: it took us one day to open an account. However, only US clients are accepted.
Pros Cons
Fast Only for US clients
Fully digital
No minimum deposit
Ally Invest vs. J.P. Morgan Self-Directed Investing: Minimum deposit, time to open an account
J.P. Morgan Self-Directed Investing Ally Invest
Minimum deposit $0 $0
Time to open account 1 day 1-3 days

If you are interested more in J.P. Morgan Self-Directed Investing minimum deposit, this overview will help you.

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Deposit and withdrawal
2.2

At J.P. Morgan Self-Directed Investing there is no deposit fee and transferring money is simple and easy, although there could be more withdrawal options.
Pros Cons
No deposit fee Credit/Debit card not available
Quick deposit and withdrawal - within 3 days Only one account base currency
High wire withdrawal fee for external accounts
Ally Invest vs. J.P. Morgan Self-Directed Investing: Withdrawal options
J.P. Morgan Self-Directed Investing Ally Invest
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

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Web trading platform
2.9

J.P. Morgan Self-Directed Investing's web trading platform is exceptionally easy to use and boasts a great search function. However, two-step authentication is missing, there are no clear fee reports and users can't set price alerts.
Pros Cons
User-friendly No clear fee report available
Good search function No two-step (safer) login
Order confirmation Limited customizability (for charts, workspace)
Ally Invest vs. J.P. Morgan Self-Directed Investing: Trading platform scores
J.P. Morgan Self-Directed Investing Ally Invest
Web platform score 2.9 stars 3.5 stars
Mobile platform score 3.9 stars 3.3 stars
Desktop platform score - -

Learn more about J.P. Morgan Self-Directed Investing's web trading platform in the detailed J.P. Morgan Self-Directed Investing review.

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Markets and products
2.1

J.P. Morgan Self-Directed Investing has a limited product portfolio including stocks, ETFs, funds, bonds and options. Unfortunately, the product portfolio only includes assets traded on the US market.
Ally Invest vs. J.P. Morgan Self-Directed Investing: Markets and products
J.P. Morgan Self-Directed Investing Ally Invest
Stocks Yes Yes
ETFs Yes Yes
Forex No No
Funds Yes Yes
Bonds Yes Yes
Options Yes Yes
Futures No No
CFDs No No
Crypto No No

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Verdict

J.P. Morgan Self-Directed Investing, formerly Chase You Invest, offers great fees: the broker does not charge additional fees for trading US stocks, ETFs, mutual funds and US bonds. Some very low charges may apply to cover costs imposed by regulatory or stock exchange authorities (e.g. $0.01-0.03 per $1,000 principal for US stocks and ETFs). 

The fully digital account opening is easy and fast, and onboarding is seamless. J.P. Morgan Self-Directed Investing's parent company, J.P. Morgan, has a banking background, is listed on the New York Stock Exchange and is regulated by the SEC. 

J.P. Morgan Self-Directed Investing has some drawbacks, though. It is only available to US residents, the product portfolio is limited, with a heavy focus on US markets, and research tools are basic. 

In a nutshell, J.P. Morgan Self-Directed Investing offers low-cost trading and has one of the most robust parent companies. Feel free to give it a try. 

J.P. Morgan Self-Directed Investing
Summary J.P. Morgan Self-Directed Investing is a brokerage solution offered by J.P. Morgan Securities LLC (a J.P. Morgan affiliate), regulated by top-tier US authorities the SEC and FINRA. J.P. Morgan is a NYSE-listed company with a banking background.
Fees score 4.9 stars
Recommended for Beginners and buy-and-hold investors focusing on the US stock market

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Ally Invest alternatives
Vanguard

Vanguard is a US stockbroker founded in 1975. The company is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Vanguard is considered safe because it has a long track record and it is overseen by top-tier regulators.

Recommended for long-term investors looking for great etf and mutual fund selection

Pros Cons
Stocks and ETFs are free to trade Only US assets available
Easy account opening Basic research tools
Great mobile trading platform High financing rates (margin rates)

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Fees
4.2

Vanguard offers free stock/ETF trading, and some bonds are also free to trade. Non-trading fees are also low. On the negative side, financing rates and some mutual fund fees are high.
Pros Cons
No inactivity fee High margin rates
Free stock and ETF trading High fees for non-free mutual funds
Some mutual funds and bonds are also free to trade
Ally Invest vs. Vanguard: Trading fees
Vanguard Ally Invest
Apple benchmark fee $0.3 $0.3
Vodafone benchmark fee - -
EURUSD benchmark fee - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening
4.2

Account opening is fully digital and user-friendly, and there's no minimum account balance. However, the account verification process is quite slow.
Pros Cons
Fully digital Slow account opening time
No minimum deposit
Low minimum deposit
Ally Invest vs. Vanguard: Minimum deposit, time to open an account
Vanguard Ally Invest
Minimum deposit $0 $0
Time to open account 1-3 days 1-3 days

If you are interested more in Vanguard minimum deposit, this overview will help you.

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Deposit and withdrawal
2.4

Transferring money to your Vanguard account is easy and free, but deposit/withdrawal options are limited to bank transfers, and wire transfer withdrawals are not free.
Pros Cons
No deposit fee Credit/Debit card not available
User-friendly $10 fee for wire transfer withdrawals
Free withdrawal (via ACH)
Ally Invest vs. Vanguard: Withdrawal options
Vanguard Ally Invest
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

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Web trading platform
3.4

Vanguard has an average web trading platform, with safe login and a good fee report. On the down side, navigation is tricky, search functions could be better, and there's no customizability.
Pros Cons
Clear fee report Limited customizability (for charts, workspace)
Two-step (safer) login Some features are hard to find
Price alerts
Web trading platform of Vanguard, a Ally Invest alternative
Ally Invest vs. Vanguard: Trading platform scores
Vanguard Ally Invest
Web platform score 3.4 stars 3.5 stars
Mobile platform score 4.4 stars 3.3 stars
Desktop platform score - -

Learn more about Vanguard's web trading platform in the detailed Vanguard review.

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Markets and products
2.7

Vanguard offers a wide range of asset classes, including stocks, ETFs, funds and options. However, it covers only the US market, while forex and futures trading is not available.
Ally Invest vs. Vanguard: Markets and products
Vanguard Ally Invest
Stocks Yes Yes
ETFs Yes Yes
Forex No No
Funds Yes Yes
Bonds Yes Yes
Options Yes Yes
Futures No No
CFDs No No
Crypto No No

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Verdict

Vanguard is one of the biggest US stockbrokers and is regulated by top-tier financial authorities.

Vanguard offers free stock and ETF trading. It doesn't charge inactivity or account fees, and the account opening process is easy and fully digital. The mobile trading platform is user-friendly and has a great design.

Vanguard has some drawbacks, though. The product portfolio covers only the US market, and research tools are quite basic. Financing rates are also high when you trade on margin.

Still, as non-trading fees are low and no inactivity fee is charged, you should feel free to try Vanguard.

Vanguard
Summary Vanguard is a US stockbroker regulated by the top-tier SEC and FINRA.
Fees score 4.2 stars
Recommended for Long-term investors looking for great ETF and mutual fund selection

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Ally Invest alternatives
Ally Invest

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

Ally Invest is considered safe because it has a long track record and is regulated by top-tier financial authorities.

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

Pros Cons
Low trading and non-trading fees You can trade only on US markets
Easy and fully digital account opening Forex trading is available through a separate account
Great education Lack of proper 2-step authentication

Fees
4.4

Ally Invest has low trading fees and non-trading fees, including zero base commission on most stocks and ETFs. On the negative side, margin rates are quite high.
Pros Cons
Low trading fees Margin rates could be lower
Low non-trading fees
Zero commission on most stock and ETF trades
Ally Invest alternatives trading fees
Ally Invest Merrill Edge Fidelity J.P. Morgan Self-Directed Investing Vanguard
US stock $0.0 $0.0 $0.0 $0.0 $0.0
UK stock - - $10.2 - -

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k

Account opening
4.2

Account opening is fully digital and user-friendly. The broker requires no minimum deposit in most cases. On the other hand, account verification takes relatively long.
Pros Cons
Fully digital Slow account verification
Low minimum deposit
Ally Invest alternatives minimum deposit and account open times
Ally Invest Merrill Edge Fidelity J.P. Morgan Self-Directed Investing Vanguard
Minimum deposit $0 $0 $0 $0 $0
Time to open account 1-3 days 1 day 1-3 days 1 day 1-3 days

Learn more about Ally Invest minimum deposit here.

Deposit and withdrawal
2.1

Ally Invest doesn't charge a deposit fee and transferring money is easy. On the other hand, you can use only bank transfer and wire transfer withdrawals are expensive.
Pros Cons
No deposit fee Credit/Debit card not available
User-friendly High outgoing wire transfer fee
Free ACH withdrawal
Ally Invest and alternatives withdrawal options and fees
Ally Invest Merrill Edge Fidelity J.P. Morgan Self-Directed Investing Vanguard
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No No No
Electronic wallets No No Yes No No
Withdrawal fee $0 $0 $0 $0 $0

Web trading platform
3.5

Ally Invest's web trading platform is user-friendly, with a convenient search function. On the negative side, there is no clear fee report and we also missed the two-step authentication.
Pros Cons
User-friendly No clear fee report available
Good search function No two-step (safer) login
Good customizability (for charts, workspace)
Ally Invest - Web trading platform
Ally Invest and alternatives trading platform scores
Ally Invest Merrill Edge Fidelity J.P. Morgan Self-Directed Investing Vanguard
Web platform score 3.5 stars 4.3 stars 4.5 stars 2.9 stars 3.4 stars
Mobile platform score 3.3 stars 4.8 stars 5.0 stars 3.9 stars 4.4 stars
Desktop platform score - 4.3 stars 4.3 stars - -

Learn more about Ally Invest's web trading platform in the detailed Ally Invest review.

Markets and products
2.6

At Ally Invest, you can trade various asset classes from stocks to options. On the negative side, it covers only the US market and futures trading is not available.
Ally Invest and alternatives markets and products
Ally Invest Merrill Edge Fidelity J.P. Morgan Self-Directed Investing Vanguard
Stocks Yes Yes Yes Yes Yes
ETFs Yes Yes Yes Yes Yes
Forex No No No No No
Funds Yes Yes Yes Yes Yes
Bonds Yes Yes Yes Yes Yes
Options Yes Yes Yes Yes Yes
Futures No No No No No
CFDs No No No No No
Crypto No No Yes No No

Verdict

Ally Invest is one of the biggest US stockbrokers and is overseen by top-tier regulators. Retail clients of Ally Bank will appreciate that its banking and brokerage platforms are very well integrated - so it's very easy to move cash between those accounts.

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

Ally Invest has some drawbacks though. You can trade only on US exchanges. Forex trading is available only through a separate Ally Forex account provided by GAIN Capital (Forex.com). Lastly, there is no option to turn on two-factor authentication for added security.

Still, as trading fees are low and no inactivity fee is charged, feel free to try Ally Invest.

Ally Invest
Summary Ally Invest is a US stockbroker, regulated by top-tier authorities the SEC and FINRA. The company is listed on the New York Stock Exchange and has a banking background.
Fees score 4.4 stars
Recommended for Investors and traders looking for low fees and focusing on the US market

Ally Invest alternatives
Bottom line

Based on our analysis, there are several good alternatives to Ally Invest. They all offer similar products and target similar customers. Here's a recap of the results in a table.

Ally Invest alternatives
Broker Info Recommended for
Ally Invest US stockbroker Investors and traders looking for low fees and focusing on the US market
Merrill Edge US discount broker Investors and traders looking for low fees, quick account opening and simple platforms
Fidelity US stockbroker Investors and traders looking for solid research and great trading platforms
J.P. Morgan Self-Directed Investing US-based discount broker Beginners and buy-and-hold investors focusing on the US stock market
Vanguard US stockbroker Long-term investors looking for great ETF and mutual fund selection

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

Author of this article

Edith Balázs

Author of this article

Edith is an experienced financial journalist having worked for 15+ years as a correspondent for Bloomberg, Dow Jones and The Wall Street Journal covering macroeconomics, stock, currency and fixed income markets. She holds a master's degree in American Studies and Journalism.

Edith Balázs

Senior Editor

Edith is an experienced financial journalist having worked for 15+ years as a correspondent for Bloomberg, Dow Jones and The Wall Street Journal covering macroeconomics, stock, currency and fixed income markets. She holds a master's degree in American Studies and Journalism.

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

Our top alternative brokers to Ally Invest

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