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Ally Invest vs Interactive Brokers

Ally Invest is a good low-price discount stock broker for savvy investors. How does it compare to Interactive Brokers? Read our comparison chart below.

Ally Invest (formerly TradeKing) offers stock trades at $4.95 per trade and options trading at $4.95 + $0.65 per contract. There is no minimum deposit.

While Interactive Brokers offers trades starting at just 0.5 cents per share. It also offers a tiered pricing plan that awards high volume traders with even lower rates. There is a $10,000 opening account minimum ($3,000 for clients 25 and younger). There is a monthly activity fee unless required commission minimums are met.

Compare Ally Invest with Interactive Brokers, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 Ally Invest
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Ally Invest

Interactive Brokers

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Get Up to $3,500 Cash Bonus and Commission Free Trades for 90 Days - Learn More

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Benefits and Features

Stock Trading$4.95 per trade ($3.95 per equity trade special pricing for high-volume/high-balance traders)Fixed pricing: $0.005 per share (min $1 per order, max 1.0% of trade value). Tiered pricing: Starts at $0.0035 per share for less than 300,000 shares (min $0.35 per order, max 1% of trade value)
Options Trading$4.95 base + $0.65 per contract (50 cents per options contract special pricing for high-volume/high-balance traders)$.70 per contract ($1 minimum per order)
Minimum Deposit
$0
$10,000 for individual accounts; $5,000 for IRAs; $3,000 for clients 25 and under
Mutual Fund Trading$0 to buy/sell load mutual funds
$9.95 to buy/sell no load mutual funds
$0 for no-transaction-fee funds. For transaction-fee funds, 3% trade value OR $14.95, per transaction, whichever is less, for transaction-fee funds
Commission Free ETFs100+ including ETFs from WisdomTree
45
Penny Stocks$0.01 per share on the entire order for stocks priced less than $2.00. Maximum commission per order not to exceed 5% of the trade value, with minimum commission of $4.95. 
Broker Assisted Trades
$20 + Regular Commission
$30
Customer Service
(855) 880-2559 (Open 24/7)
United States: Monday-Friday 8am - 10pm ET; Sunday 1pm - 7pm ET (24/7 Weekday service available in other countries)
Inactivity Fee $10/month for accounts under $100,000; $20/month for accounts under $2,000; $3/month for clients 25 and younger
Maintenance Fee Waived if account value is at least $100,000 OR if monthly commission requirements are met. If not met, the activity fee is the difference. For accounts less than $100,000: the commission requirement is $10/month. For accounts less than $2,000: the commission requirement is $20/month. For clients 25 and younger: the commission requirement is $3/month.
BankingIntegrated with banking on ally.com. Manage your Ally banking and investment accounts in one place.
No
Mobile App
Yes
Desktop App 
Yes
Forex Trading
Available for qualified customers
Futures Trading
Yes
Locations 
No
Online CommunityTrader Network to connect with other investors
Yes
Seminars 
Yes
Virtual Trading 
Yes
 

CreditDonkey® Reviews

 Ally Invest
Stock Trading
Options Trading
Banking
Mobile App
Commissions and Fees
Ease of Use
Online Community
Research
Trading Platform
Mutual Fund Trading
Online Platform
Pros & ConsPros:
  • Low commission for stock trades
  • No account minimums
  • Ally LIVE platform
Cons:
  • No physical locations
Pros:
  • Large number of investments, including options, futures, and forex
  • Customize trading platform
  • Tools and opportunities for research
Cons:
  • $10,000 minimum to open an account.
  • Platform can be too much for a beginner to understand
  • Inactivity fees if you don't meet the trade commission requirements.
Bottom LineGood low-price discount stock broker for savvy investors... Read full reviewGood discount broker for experienced, high volume traders... Read full review
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What Others View

    Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

    Ally Invest: Pricing information from published website as of 09/18/2017

    Interactive Brokers: Pricing information from published websites as of 4/16/2018

    Which is Better: Ally Invest or Interactive Brokers?

    Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing Ally Invest or TD Ameritrade.

    In short: Ally Invest's banking, commissions and fees, and ease of use are noteworthy. In particular, the banking and commissions and fees are impressive. Interactive Brokers' mobile app is outstanding.


    Articles on Ally Invest


    Articles on Interactive Brokers


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