Compare Ally Invest vs Oanda


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

Ally Invest vs Oanda
overall rating
4.7
4.4
overall pros
  • Low trading and non-trading fees
  • Easy and fully digital account opening
  • Great education
  • Low trading fees
  • Great trading platforms
  • Outstanding research tools
overall cons
  • You can trade only on US markets
  • Forex trading is available through a separate account
  • Lack of proper 2-step authentication
  • Only FX and CFD available
  • No stock exchange listing and banking background
  • Withdrawal fee can be high
fees
4.5
  • Low trading fees
  • Low non-trading fees
  • Zero commission on most stocks and ETFs
  • Margin rates could be lower
2.9
  • Low trading fees
  • Low forex fees
  • First credit/debit card withdrawal per month is free
  • High withdrawal fee for bank transfers
account opening
4.4
  • Fully digital
  • Low minimum deposit
  • Slow account verification
4.4
  • Fully digital
  • No minimum deposit
deposit and withdrawal
2.6
  • No deposit fee
  • User-friendly
  • Free ACH withdrawal
  • Credit/Debit card not available
  • High outgoing wire transfer fee
4.2
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • High withdrawal fee for bank transfers and PayPal
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
4.5
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • No price alerts
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
5.0
  • User-friendly
  • Two-step (safer) login
  • Good search function
  • No Touch/Face ID login
desktop trading platform
4.5
  • User-friendly
  • Clear fee report
  • Good customizability (for charts, workspace)
  • No price alerts
markets and products
2.9
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
1.6
  • Forex
  • CFD
research
3.8
  • Good interactive chart
  • Trading ideas
  • Good option strategy analyzer
  • Screener only for ETFs
5.0
  • Good interactive chart
  • Data on asset fundamentals
  • Quality news flow
  • Great API
  • No trading ideas
  • Research tools are poorly organized
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 24/7 support
education
4.3
  • Trading platform tutorial
  • Educational videos
  • No demo account
5.0
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Materials are not well-organized
  • 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
  • Negative balance protection
  • Financial information is publicly available
  • 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 Forex traders who value a user-friendly platform and great research tools
×