June 7, 2019

Ally Invest Fees

Read more about Ally Invest
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Ally Invest offers Cash-Enhanced Managed Portfolio for no advisory fees and no minimum deposit for self-directed trades. But is it good for beginners? Read on for the answer.

Ally Invest offers two services:

  • Self-directed trading at low cost
  • Cash-Enhanced Managed Portfolio services for no advisory fees

Read on to learn the fees and how it compares.

Ally Invest Self-Directed Trade Fees

Ally Invest's trade fees are some of the lowest on the market.

InvestmentCost
Stock and ETFs$0 per trade
Options$0 + $0.50 per contract
Mutual Funds$9.95 to buy or sell no-load mutual funds
Penny StocksAdditional 1 cent per share for stocks under $2 (max commission 5% of trade value)
Bonds$1 per bond (minimum $10, maximum $250)
Treasuries$1 per bond (minimum $10, maximum $250)
CDs$24.95 per transaction
ForexNo commission
Broker Assisted Trades$20 + regular commission

There is no minimum to open an account.

All new accounts (no matter your opening deposit amount) will receive 90 days of free trades, up to $500 in value. In addition, you'll still be eligible for the up to $3,500 cash bonus as well.

No-Fee Funds

Ally Invest offers over 500 commission-free ETFs from Vanguard, GlobalX, WisdomTree, iShares and more.

These cover domestic, international, and global equities, fixed income, currencies, commodities, and alternative strategies.

Here's what other brokerages offer:

BrokerageFree Offerings
Vanguard1,800+ commission-free ETFs
Charles Schwab500+ commission-free ETFs
Fidelity500+ commission-free ETFs
E-Trade250+ commission-free ETFs
TD Ameritrade300+ commission-free ETFs

Ally Invest offers a very competitive selection of commission-free ETFs. Though it doesn't offer any no-transaction-fee mutual funds.

Ally Invest Account Fees

Here are some of the more commonly encountered account fees:

Service Fees:

Fee DescriptionFee
Account service fee$0
Inactivity fee$0
Paper statements$4
ACAT transfer out$50
Outgoing domestic wire transfer$30
Returned checks, ACH, and wires$30
Tax documents request by mail or fax$50

IRA Fees:

Fee DescriptionFee
IRA annual fee$0
IRA transfer fee$50
IRA closure fee$25

Ally Cash-Enhanced Managed Portfolios Fees

Besides self-directed trading, Ally Invest also offers a robo-advisor service called Cash-Enhanced Managed Portfolios.

Ally will automatically build a portfolio for you based on your goals and risk tolerance. Your portfolio will be professionally managed, so you don't have to worry about maintaining it.

Cash Enhanced Managed Portfolio service is free of advisory fees. The minimum amount to start is $100.

This sounds too good to be true compared to other robo-advisors. Though the catch is that 30% of your portfolio will be held in cash. Learn more in our detailed review.

Ally Invest Promotions

Bottom Line

Ally Invest offers a robust, user-friendly trading platform for low cost. Ally is worth considering for budget investors or active traders. The biggest downside is that it lacks no-transaction-fee mutual funds. Mutual fund traders may want to look elsewhere.

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More from CreditDonkey:


Ally Invest Review


How to Invest $100


Ally Invest Phone Number

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Ally Invest Roth IRA

Ally Invest's Roth IRA account has no annual fee and low trade commissions. Is it right for your retirement funds? Read on to learn how Ally Invest Roth IRA accounts work.

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