Compare Ally Invest vs Firstrade


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

Ally Invest vs Firstrade
overall rating
4.7
4.4
overall pros
  • Low trading and non-trading fees
  • Easy and fully digital account opening
  • Great education
  • Free stock, ETF, fund and options trading
  • Solid research tools
  • Quality educational tools
overall cons
  • You can trade only on US markets
  • Forex trading is available through a separate account
  • Lack of proper 2-step authentication
  • No credit/debit cards and electronic wallets for money transfer
  • You can trade only on US markets
  • No live chat or 24/7 availability
fees
4.5
  • Low trading fees
  • Low non-trading fees
  • Zero commission on most stocks and ETFs
  • Margin rates could be lower
4.7
  • Low trading fees
  • Low non-trading fees
  • Free stock, ETF, fund and options trading
  • High margin rates
account opening
4.4
  • Fully digital
  • Low minimum deposit
  • Slow account verification
4.4
  • Fully digital
  • No minimum deposit
  • Low minimum deposit
  • Slow account verification
deposit and withdrawal
2.6
  • No deposit fee
  • User-friendly
  • Free ACH withdrawal
  • Credit/Debit card not available
  • High outgoing wire transfer fee
2.0
  • No deposit fee
  • User-friendly
  • Credit/Debit card not available
  • Only one account base currency
  • High outgoing wire transfer fee
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
  • Good search function
  • No two-step (safer) login
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
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
desktop trading platform
markets and products
2.9
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
2.8
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
research
3.8
  • Good interactive chart
  • Trading ideas
  • Good option strategy analyzer
  • Screener only for ETFs
4.8
  • Good interactive chart
  • Trading ideas
  • Data on asset fundamentals
customer service
3.5
  • Phone support
  • Live chat
  • 24/7 availability
  • Average speed of customer support
0.3
  • Email support
  • No live chat
  • No 24/7 support
  • Slow support
  • Irrelevant answers
  • Phone support didn't connect anyone
education
4.3
  • Trading platform tutorial
  • Educational videos
  • No demo account
3.5
  • Trading platform tutorial
  • Educational videos
  • No demo account
  • High level of investor protection
  • Banking background
  • Regulated by top-tier financial authorities in the US
  • No negative balance protection
  • No investor protection for forex
  • Majority of clients belong to a top-tier financial authority
  • High level of investor protection
  • No negative balance protection
  • Does not hold a banking license
  • Not listed on stock exchange
recommended for Investors and traders looking for low fees and focusing on the US market Beginners and investors looking for zero-commission trading, focusing on the US market
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