Ally Invest app
As more and more traders and investors use their smartphones for trading, it is increasingly important that brokers offer easy-to-use apps that can deliver the same services as desktop platforms.
In this article we'll check whether Ally Invest's mobile app ticks all the boxes.
Overall, we rate the user-friendliness of the app as better than average.
| Ally Invest | Merrill Edge | Fidelity | |
|---|---|---|---|
| Mobile app rating (5 is the best) | 3.3 stars | 4.8 stars | 5.0 stars |
| User-friendliness | Great | Great | Great |
| 2-step authentication | No | Yes | Yes |
| Biometric authentication | Yes | Yes | Yes |
We're going to take a closer look at search functions, price alerts and order types, so all the little details that determine whether a trading app is user-friendly or downright cumbersome. If you want to read our full review, including fees, deposit options and other platforms (like web and desktop) then skip to the Ally Invest review.
Ally Invest app
Our main checklist for the Ally Invest app
Let's start with the search functions. Although most brokers do OK in this area, there are some bad apples out there. For example, if you start typing 'Emerging markets', will the software find all the Emerging markets ETFs for you, even if their name doesn't start with 'emerging'? If you only ever traded US stocks and start typing 'Apple', will the AI show you the Apple stock or the obscure Irish stock Applegreen?
Ally Invest got the green light, meaning its search functions are reasonably good.
| Ally Invest | Merrill Edge | Fidelity | |
|---|---|---|---|
| Search functions | Great | Mid-range | Great |
| 2-step authentication | No | Yes | Yes |
| Biometric authentication | Yes | Yes | Yes |
| Price alerts in the app | No | Yes | Yes |
| Confirmation after successful trade | Yes | Yes | Yes |
We hear horror stories almost every month about accounts being emptied out by hackers - the easiest thing you can do to prevent these attacks is to make your account secure by enabling 2-step authentication. That is, if your broker offers this service. We think it is a must. As Ally Invest doesn't have this functionality, you might want to consider having a look at another trading platform.
You cannot set price alerts in the Ally Invest app. Yes, you can use a third-party app for this, but wouldn't it be much easier to have it in the broker's own app?
Ally Invest app
Checklist for nice-to-have features
For some people it might be a deal-breaker if you can't set up a trailing stop limit - we totally get that. Others couldn't care less and also don't get excited if the app is available in 25 languages. Anyway, here is our checklist of minor, nice-to-have features:
Ally Invest has these order types available in its app: Market, Limit, Stop-loss, Stop limit, Trailing stop.
At Ally Invest you can use the following order terms & expiry in the app: Good 'til canceled (GTC), Good 'til time (GTT), Pre-Market, Post-Market.
The Ally Invest mobile app currently supports the following languages: English.
Ally Invest app
The BC Award-winning brokers
Still unsure about your broker selection? Click here to see which free stock trading apps are the best.
Or you could take a peek at the best trading platform awards we gave to brokers serving European clients.
If you're not in the US or the EU you'll find this award the most interesting.
Let us know what you think in the comments section.
If you would like a tailored recommendation you can use our broker finder tool, or you can learn more about investing your money.
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