Ally Invest Alternatives

The best alternatives to Ally Invest are

1. Interactive Brokers - US discount broker
2. E-Trade - US stockbroker
3. TD Ameritrade - US-based stockbroker
4. Charles Schwab - US discount broker

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

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
• Interactive Brokers is recommended for traders who prefer low fees and a professional trading environment
• E-Trade is recommended for investors and traders looking for solid research and great mobile trading platform
• TD Ameritrade is recommended for investors and traders looking for solid research and well-equipped desktop trading platform
• Charles Schwab is recommended for investors and traders looking for solid research, low fees, and great customer service

Important factors of finding Ally Invest alternatives

So far Brokerchooser has reviewed 57 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
Ally Invest

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

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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.

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 stars

The account opening is fully digital and user-friendly. On the flip side, the account opening is available only for US clients.

Learn more about Ally Invest minimum deposit here.

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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.

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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.

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

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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.

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Verdict

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.

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Ally Invest alternatives
Interactive Brokers

Best online broker

Interactive Brokers was founded in 1978 and it is one of the biggest US-based discount brokers. It is regulated by several regulators globally, including top-tier authorities like FCA and SEC. Interactive Brokers Group is listed on the New York Stock Exchange.

Interactive Brokers is considered safe because it has a long track record, is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.

Recommended for traders who prefer low fees and a professional trading environment

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Fees 4 stars

Interactive Brokers has low trading fees and high non-trading fees. The fees are transparent.

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 3 stars

The account opening process is fully digital, but slow and complicated.

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

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Deposit and withdrawal 2 stars

Interactive Brokers offers a lot of base currencies and one withdrawal per month is free. On the negative side, only bank transfer is available.

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Web trading platform 4 stars

The Interactive Brokers web platform is simple and easy to use, even for beginners. On the negative side, it is a bit complicated to customize.

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

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Markets and products 5 stars

Interactive Brokers allows you access to a very wide range of markets and you can trade with all product types. IB's product range is the widest available.

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Verdict

IB is one of the biggest discount US brokers regulated by top-tier regulators. If you like low-cost trading and easily navigate on a really complicated platform, Interactive Brokers is for you. We mainly recommend IB for traders.

It has low trading fees, a wide range of product portfolio, and diverse research tools. 

On the flip side, only bank transfer is available for deposit and withdrawal. The account opening and the desktop platform are not user-friendly and complicated.

Interactive Brokers is definitely recommended if you want low fees, a lot of products and you are experienced to cope with a complicated platform.

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Ally Invest alternatives
E-Trade

E-Trade was founded in 1982 and it is a US-based stockbroker. It is regulated by the Securities and Exchange Commission (SEC), and the Financial Industry Regulatory Authority (FINRA).

E-Trade is considered safe because it has a long track record, is listed on a stock exchange, has a banking background, discloses its financials, and is regulated by top-tier regulators.

Recommended for investors and traders looking for solid research and great mobile trading platform

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Fees 3 stars

E-Trade has high trading and low non-trading fees. E-Trade charges no commission for some ETFs, bonds, and mutual funds.

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 stars

The account opening is fully digital and user-friendly for US clients. On the flip side, the account verification process was slow.

If you are interested more in E-Trade minimum deposit, this overview will help you.

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Deposit and withdrawal 2 stars

E-Trade deposit and withdrawal can be improved. You can use only bank transfer, there is only USD as a base currency, 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 for US clients.

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Web trading platform 4 stars

E-Trade has a great web-based trading platform. It is user-friendly and well-designed. On the negative side, there is no two-step login.

Learn more about E-Trade's web trading platform in the detailed E-Trade review.

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Markets and products 3 stars

At E-Trade, you can trade with a lot of asset classes, from stocks to futures, but not with forex. However, the offered products cover only the US market.

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Verdict

E-Trade is one of the biggest US stockbrokers regulated by top-tier regulators.

E-Trade's research functions are high-quality and channel a lot of tools, including trading ideas, and strategy builders builders as well. We liked the easy handling and the persionalizable features of the mobile trading platform. The customer service is great, you will get relevant answers within a short time.

It has some drawbacks though. E-Trade doesn't provide credit/debit cards and electronic wallets for money transfers. The product portfolio covers only US markets. The account verification process is slow. 

As the research tools are great and no inactivity fee is charged, feel free to try it.

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Ally Invest alternatives
TD Ameritrade

TD Ameritrade was founded in 1971 and it is one of the big US discount brokers. It is regulated by top tier regulators, like US SEC.

TD Ameritrade is considered safe because it has a long track record, is listed on stock exchange, has a banking background, discloses its financials, and is regulated by top-tier regulators.

Recommended for investors and traders looking for solid research and well-equipped desktop trading platform

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Fees 3 stars

TD Ameritrade has high trading and low non-trading fees. It charges no commission for some ETFs, bonds, and mutual funds.

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 3 stars

Opening an account is easy, but not fully digital. For US-clients there is no minimum deposit.

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

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Deposit and withdrawal 2 stars

TD Ameritrade 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.

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Web trading platform 4 stars

TD Ameritrade offers a good web-based trading platform with a clean design. On the flip side, there is no two-step login and the platform is not customizable.

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

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Markets and products 3 stars

At TD Ameritrade, you can trade with a lot of asset classes, from stocks to futures and forex. However, the offered products cover only the US market.

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Verdict

TD Ameritrade is one of the biggest discount US brokers regulated by top-tier regulators.

Research and education are outstanding and covers a lot of tools. The thinkorswim desktop trading platform is one of the best on the market. The customer service is great, you will get relevant answers within a short time.

It has some drawbacks though. It charges high fees. It doesn't provide credit/debit cards and electronic wallets for money transfers. The product portfolio covers only US markets. 

As the research tools are great, the account opening is seamless, and no inactivity fee is charged, feel free to try it.

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Ally Invest alternatives
Charles Schwab

Best research

Charles Schwab was founded in 1971 and it is one of the biggest US-based discount brokers. It is regulated by top-tier regulators, like the US SEC or the UK FCA.

Charles Schwab is considered safe because it has a long track record, is listed on a stock exchange, has a banking background, and is regulated by top-tier regulators.

Recommended for investors and traders looking for solid research, low fees, and great customer service

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Fees 4 stars

Charles Schwab has low trading and non-trading fees. It even charges no commission for some ETFs, bonds, and mutual funds. On the negative side, the fees for mutual funds and the financing rates are high.

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

More Visit broker

Account opening 5 stars

Opening an account at Charles Schwab is easy, fast and fully digital. For US-clients there is no minimum deposit. However, if you open an account outside the US, there is a $25,000 minimum.

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

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Deposit and withdrawal 2 stars

Charles Schwab 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 withdrawals. As a plus, there is no deposit fee and transferring money is easy and user-friendly.

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Web trading platform 4 stars

Charles Schab's web platform is simple and easy to use. Even beginners can easily navigate it. On the negative side, it lacks two-step login and customizability.

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

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Markets and products 3 stars

At Charles Schwab, you can trade with a lot of asset classes, from stocks to futures. However, the offered products cover only the US market.

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Verdict

Charles Schwab is one of the biggest discount US brokers regulated by top-tier regulators.

Its research is outstanding and covers many tools, including trading ideas and detailed fundamental data. It charges low trading and non-trading fees.  The customer service is great, you will get relevant answers within a short time.

It has some drawbacks though. It doesn't provide credit/debit cards and electronic wallets for money transfers. The product portfolio covers only US markets. Lastly, the educational tools are not well-structured. 

As the research tools are great, the account opening is seamless, and no inactivity fee is charged, feel free to try it.

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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.

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

AUTHOR

Dan Sallai

CMO

My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.

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