Ally Invest

Fees:

  • Stocks and ETFs: No commission for U.S.-listed stocks and ETFs.
  • Options: $0.50 per contract fee, which is relatively low compared to other platforms.
  • Bonds: Bonds can be purchased for $1 per bond, with a minimum transaction of $0.
  • Low-Priced Securities: A $4.95 base commission and $0.01 per share for stocks priced under $2.
  • Personal Advice: For personalized financial advice, the fee is 0.85% per year, with a minimum balance of $100,000 required to access this service.

Offer:

  • No Active Offer: Currently, there are no promotional offers available.

Trading Platforms:

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Features
  • Commission-Free Trading: Ally Invest offers $0 commissions on most U.S.-listed stocks, ETFs, and options trades, making it highly attractive for cost-conscious investors.
  • Automated Investing: For those who prefer a hands-off approach, Ally provides Robo Portfolios, which can be tailored to specific goals and risk levels. A $100 minimum investment is required to start, and there is no advisory fee if you choose the cash-enhanced portfolio option.
  • Self-Directed Trading: Investors who want to control their own investments can choose from a variety of assets, including stocks, ETFs, bonds, and options. No account minimum is required to start.
  • Personalized Financial Advice: Ally offers personalized advice for higher-balance investors (starting at $100,000), which includes one-on-one guidance and a customized financial plan. There is a blended advisory fee of up to 0.85%.
  • Education and Tools: Ally provides comprehensive educational resources, including articles and videos on topics like ETFs, mutual funds, and general investing tips. Charts, screeners, and expert analysis are available to assist in decision-making.
  • Integration with Ally Bank: The platform integrates with Ally Bank, allowing users to manage their savings and investments in one place with easy money transfers.
Details

Ally Invest is an online brokerage service offering a range of investment options, including commission-free stock, ETF, and options trading. The platform caters to different types of investors, from those looking for self-directed trading to those who prefer automated investing or personalized advice. Ally Invest stands out for its no-account-minimum policy, competitive pricing, and integration with Ally Bank, allowing users to manage both banking and investing in one view. With a user-friendly interface and robust educational resources, Ally Invest aims to make investing accessible to all levels of investors.

Pros
  • No Commission on U.S.-Listed Securities: Ally Invest offers commission-free trading for most U.S.-listed stocks, ETFs, and options, reducing costs for active traders.
  • No Account Minimum: Investors can start with as little as $0, making it easy for beginners to start investing.
  • Automated Portfolios Available: For investors who prefer a hands-off approach, the Robo Portfolios option allows for automated, goal-based investing with a low minimum requirement of $100.
  • Integrated with Ally Bank: Users can manage their savings and investments together, offering convenience for existing Ally Bank customers.
  • Low Fees for Options: Options trading is offered with a competitive fee of $0.50 per contract.
  • Comprehensive Educational Resources: Ally Invest provides accessible and easy-to-understand resources to help investors build their knowledge base.
Cons
  • Limited Advanced Trading Features: While Ally offers basic trading tools, professional traders might find the platform lacking in sophisticated features available on more advanced trading platforms.
  • Advisory Services Require High Minimum Balance: Personalized financial advice requires a minimum investment of $100,000, which may not be accessible to small investors.
  • Limited Mutual Fund Selection: No-load mutual funds are available commission-free, but the selection may not be as extensive as competitors.

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Users are encouraged to carefully review the terms and conditions, fees, and features of any financial product to ensure it aligns with their individual financial goals and risk tolerance. Investing involves risks, and past performance does not guarantee future results.