Ally Invest
Robinhood
Basic data of broker
Recommended for Investors and traders looking for low fees and focusing on the US market
Recommended for Beginners and buy-and-hold investors focusing on the US stock market
USA
USA
Fees
Low trading and non-trading fees, high margin rates
Low trading and non-trading fees, free US stock and ETF trading
Stock and ETF fees
Forex fees
Fund fees
Bond fees
Options fees
Futures fees
Crypto fees
CFD fees
Non-trading fees
Deposit and withdrawal
1
1
Deposit type
Withdrawal type
Account opening
$0
$0
1-3 days
1 day
Proof of identity: SSN / passport / national ID card / driver's license
Proof of identity: SSN and ID / passport / driver's license
Trading platform
Markets and products
Research, education
Great
Poor
Customer service
Security
$500,000 (securities up to $500,000, cash up to $250,000). Additional insurance through Lloyd's of London for $37.5 million, including cash of up to $900,000.
$500,000 (securities up to $500,000, cash up to $250,000)
1919
2013
USA
USA
For detailed information and hands-on experience, read our review of this broker.
For detailed information and hands-on experience, read our review of this broker.
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.
Ally Invest's service is on par with Robinhood's and a comparison of their fees shows that Ally Invest's fees are similar to Robinhood's.
Account opening takes somewhat more effort at Ally Invest compared to Robinhood, deposit and withdrawal processes are about the same quality at Ally Invest, while customer service quality is better than Robinhood's.
Our experts rated the trading platform of Ally Invest as less user-friendly than the platform of Robinhood, found that clients have access to about the same number of markets and products with Ally Invest, while Robinhood provides less useful research and education.
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