Ally Invest app

As more and more traders and investors use their smartphones as their primary trading platform, it is increasingly important that brokers come up with easy to use apps that can match the functionality of the 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 mobile app vs. similar brokers
Ally Invest E*TRADE Charles Schwab
Mobil app rating (5 is the best) 3.3 stars 4.5 stars 4.2 stars
Is the app easy to use? Great Great Great
2-step authentication possible? No No Yes
Biometric authentication possible? Yes Yes Yes

We're going to look at order types, price alerts, search functions, so all the little details that make a trading app user-friendly or downright cumbersome. Should you prefer to read our full review that include fees, deposit options, and other platforms (like web and desktop) then skip to Ally Invest's full review.

Ally Invest app

Open account

Ally Invest app
Our major checklist for the Ally Invest app

Let's start with the search functions. While this might be up to personal taste, we use a 3-star rating here. While most brokers do OK here, 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 the word 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 (or all the 3 stars if you will), meaning search functions are reasonably good.

Ally Invest checklist
Ally Invest E*TRADE Charles Schwab
Search functions are OK? Great Great Mid-range
Price alerts in the app No Yes No
2-step authentication possible? No No Yes
Biometric authentication possible? Yes Yes Yes
Confirmation after successful trade Yes Yes Yes

We hear horror stories of accounts being emptied almost every month and the easiest thing you can do to prevent these attacks is to make your account secure by 2 -step authentication. That is, if your broker has the functionality. We think it is a must. As Ally Investdoesn't have this functionality you might want to consider having a look at the best trading platforms.

And yes, you can use a third-party app to set up alerts when a certain price level is reached, but isn't it much easier when it's done right in the app?

Ally Invest app search functions

Open account

Ally Invest app
Checklist for nice to have features

It might be a deal-breaker for some if you can't set up a trailing stop limit and we totally get it. On the other hand, some people couldn't care less about that and also don't get excited if the app is available in 25 languages. Anyway, here is our minor checklist:

Ally Invest has these order types available in their app: Market, Limit, Stop-loss, Stop limit, Trailing stop.

At Ally Invest you can use the following order temrs & expiry in the app: Good 'til canceled (GTC), Good 'til time (GTT), Pre-Market, Post-Market.

The languages the mobile app of Ally Invest currently supports are as follows: English.

Open account

Ally Invest app
The BC award winner 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 platforms 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 want a tailored recommendation then you can use the broker finder or you can learn more about investing your money here.

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

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

Share

Comments

×