Compare Ally Invest vs Charles Schwab


Online brokers compared for fees, trading platforms, safety and more. See how Ally Invest stacks up against Charles Schwab!

Ally Invest vs Charles Schwab
overall rating
4.7
4.9
overall pros
  • Low trading and non-trading fees
  • Easy and fully digital account opening
  • Great education
  • Free stock and ETF trading
  • Outstanding research
  • Great customer service
overall cons
  • You can trade only on US markets
  • Forex trading is available through a separate account
  • High financing (margin) rates
  • High fees for some mutual funds
  • Only US/Canada markets available
  • Poorly-structured educational platform
fees
4.5
  • Low trading fees
  • Low non-trading fees
  • Zero commission stock, ETF and options trading
  • High financing (margin) rates
4.4
  • Free stock/ETF trading
  • Some mutual funds and bonds are free
  • Low non-trading fees
  • High fees for non-free mutual funds
account opening
4.4
  • Fully digital
  • No minimum deposit
  • Low minimum deposit
  • Slow account verification
4.5
  • Fast
  • Fully digital
  • No minimum deposit
  • $25,000 minimum deposit for non-US clients
deposit and withdrawal
2.6
  • No deposit fee
  • User-friendly
  • Free ACH withdrawal
  • Credit/Debit card not available
  • High outgoing wire transfer fee
2.2
  • No deposit fee
  • User-friendly
  • High fee for wire (bank transfer) withdrawals
web trading platform
3.5
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
  • No clear fee report available
  • No two-step (safer) login
4.3
  • User-friendly
  • Clear fee report
  • Price alerts
  • Limited customizability (for charts, workspace)
mobile trading platform
3.3
  • User-friendly
  • Good search function
  • Good variety of order types
  • No two-step (safer) login
  • No price alerts
  • Mutual funds and bonds are not covered
4.2
  • User-friendly
  • Touch/Face ID login
  • Order confirmation
  • No price alerts
desktop trading platform
4.0
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Good variety of order types
  • Only for Windows
markets and products
2.9
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
3.3
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
  • Futures
research
3.8
  • Good interactive chart
  • Trading ideas
  • Good option strategy analyzer
  • Basic recommendations
  • Missing screeners
4.3
  • Good interactive chart
  • Data on asset fundamentals
  • Trading ideas for stocks and ETFs
  • Hard to navigate among research tools
customer service
3.5
  • Phone support
  • Live chat
  • 24/7 availability
  • Average speed of customer support
4.5
  • Phone support
  • Live chat
  • Fast response time
  • No email support
education
4.0
  • Trading platform tutorial
  • Educational videos
  • No demo account
3.0
  • Trading platform tutorial
  • Educational videos
  • No demo account
  • Not well-structured
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Banking background
  • No negative balance protection
  • No investor protection in case of forex
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • Banking background
  • No negative balance protection
recommended for Investors and traders looking for low fees and focusing on the US market Investors and traders looking for solid research, low fees and great customer service
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