Compare Ally Invest vs Robinhood


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

Ally Invest vs Robinhood
overall rating
4.7
4.6
overall pros
  • Low trading and non-trading fees
  • Easy and fully digital account opening
  • Great education
  • Free US stock and ETF trading
  • Great mobile and web trading platforms
  • Fast and fully digital account opening
overall cons
  • You can trade only on US markets
  • Forex trading is available through a separate account
  • Lack of proper 2-step authentication
  • Limited product range
  • Weak customer support
  • Few educational materials
fees
4.5
  • Low trading fees
  • Low non-trading fees
  • Zero commission on most stocks and ETFs
  • Margin rates could be lower
4.8
  • Commission-free US stock and ETF trading
  • No fee for deposit or withdrawal
  • Transparent fee structure
account opening
4.4
  • Fully digital
  • Low minimum deposit
  • Slow account verification
5.0
  • Fast
  • Fully digital
  • No minimum deposit
  • Available only for US clients
  • No IRA accounts offered
deposit and withdrawal
2.6
  • No deposit fee
  • User-friendly
  • Free ACH withdrawal
  • Credit/Debit card not available
  • High outgoing wire transfer fee
2.3
  • Free withdrawal
  • No deposit fee
  • Cash management service
  • Credit/Debit card not available
  • Depositing larger amounts on Robinhood Gold takes longer
  • Wire withdrawal is pricey
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
  • 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
5.0
  • User-friendly
  • Two-step (safer) login
  • Good search function
desktop trading platform
markets and products
2.9
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
2.4
  • Stock
  • ETF
  • Options
  • Crypto
research
3.8
  • Good interactive chart
  • Trading ideas
  • Good option strategy analyzer
  • Screener only for ETFs
3.3
  • Trading ideas
  • Data on asset fundamentals
  • Quality news flow
  • Limited interactive charting
  • No/limited set of analytic tools
customer service
3.5
  • Phone support
  • Live chat
  • 24/7 availability
  • Average speed of customer support
1.5
  • Fast response time
  • Relevant answers
  • No phone support
  • No live chat
  • No 24/7 support
education
4.3
  • Trading platform tutorial
  • Educational videos
  • No demo account
1.5
  • Quality educational texts
  • No demo account
  • No trading platform tutorial videos
  • No educational videos
  • 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
  • Financial information is publicly available
  • 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 buy-and-hold investors focusing on the US stock market
×