Compare Ally Invest vs Saxo Bank


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

Ally Invest vs Saxo Bank
overall rating
4.7
4.8
overall pros
  • Low trading and non-trading fees
  • Easy and fully digital account opening
  • Great education
  • Great trading platform
  • Outstanding research
  • Broad product portfolio
overall cons
  • You can trade only on US markets
  • Forex trading is available through a separate account
  • Lack of proper 2-step authentication
  • High bond, options and futures fees
  • High minimum deposit
  • Lacks live chat and 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
3.0
  • Low forex fees
  • Low fund fees
  • No withdrawal fee
  • Inactivity fee
  • High bond, options and futures fees
account opening
4.4
  • Fully digital
  • Low minimum deposit
  • Slow account verification
2.5
  • Fully digital
  • User-friendly
  • Available in almost every country
  • Minimum deposit is high in certain countries
  • 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
4.8
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • Electronic wallets not available for deposit or withdrawal
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
5.0
  • User-friendly
  • Clear fee report
  • 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
5.0
  • User-friendly
  • Two-step (safer) login
  • Good search function
desktop trading platform
5.0
  • User-friendly
  • Clear fee report
  • Good customizability (for charts, workspace)
markets and products
2.9
  • Stock
  • ETF
  • Fund
  • Bond
  • Options
5.0
  • Stock
  • ETF
  • Forex
  • Fund
  • Bond
  • Options
  • Futures
  • CFD
  • Crypto
  • SaxoSelect
research
3.8
  • Good interactive chart
  • Trading ideas
  • Good option strategy analyzer
  • Screener only for ETFs
5.0
  • Good interactive chart
  • Trading ideas
  • Data on asset fundamentals
  • Most fundamental data is not free of charge
customer service
3.5
  • Phone support
  • Live chat
  • 24/7 availability
  • Average speed of customer support
4.0
  • Phone support
  • Relevant answers
  • No live chat
  • No 24/7 support
education
4.3
  • Trading platform tutorial
  • Educational videos
  • No demo account
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • No educational articles
  • 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
  • Banking background
  • Negative balance protection for EU (+some MENA) customers
  • Not listed on stock exchange
recommended for Investors and traders looking for low fees and focusing on the US market Investors and traders looking for a great trading platform and solid research
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