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WealthSimple vs Ally Invest

WealthSimple is a good robo-advisor with socially responsible and Halal investment options, though fees are high. How does it compare to Ally Invest? Read our comparison chart below.

WealthSimple offers auto-investing with support from real advisors, including a free portfolio review of all your finances. However, fees are higher at 0.5% for accounts $100k and less (and 0.4% for accounts over $100k). It also stands out by offering socially responsible and Halal investment options. There is no minimum to open an account.

While 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.

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

 WealthSimpleAlly Invest
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WealthSimple

Ally Invest

SPECIAL OFFER
Get $10,000 Managed for Free for Your First Year - Learn More

Read WealthSimple Review

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

Read Ally Invest Review

 

Benefits and Features

Stock Trading $4.95 per trade ($3.95 per equity trade special pricing for high-volume/high-balance traders)
Options Trading $4.95 base + $0.65 per contract ($0.50 per options contract special pricing for high-volume/high-balance traders)
Annual Fee0.5% for accounts up to $100k; 0.4% for accounts over $100k 
Minimum Deposit
$0
$0
Mutual Fund Trading $0 to buy/sell load mutual funds
$9.95 to buy/sell no load mutual funds
Commission Free ETFs 100+ including ETFs from WisdomTree
Phone SupportYes - M-Th 9a-8p ET; Fri 9a-5:30p ET 
Live Chat Support
No
 
Email Support
Yes
 
Human Advisors
Yes
 
Robo Advisor
 
Assets Under Management
$2 Billion
 
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.
Tax Loss HarvestingAvailable for accounts over $100,000 
Goal Tracker
No
 
Automatic Deposits
Yes
 
Broker Assisted Trades 
$20 + Regular Commission
Customer Service 
(855) 880-2559 (Open 24/7)
Online Platform
Yes
 
iPhone App
Yes
 
Android App
Yes
 
Banking Integrated with banking on ally.com. Manage your Ally banking and investment accounts in one place.
Mobile App 
Forex Trading 
Futures Trading 
Online Community Trader Network to connect with other investors
Fractional Shares
Yes
 
Taxable Accounts
Yes
 
401k Plans
No
 
IRA Accounts
Yes
 
Roth IRA Accounts
Yes
 
SEP IRA Accounts
Yes
 
Trust Accounts
Yes
 
529 Plans
No
 
 

CreditDonkey® Reviews

 WealthSimpleAlly Invest
Annual Fee
Minimum Deposit
Human Advisors
Customer Service
Social Responsibility
Stock Trading
Options Trading
Banking
Mobile App
Commissions and Fees
Ease of Use
Online Community
Research
Trading Platform
Pros & ConsPros:
  • Human advisors
  • No minimum investment
  • Socially responsible and Halal investment options
Cons:
  • Higher fees than competitors
  • No personal finance tools
  • Tax loss harvesting only to high balance accounts
Pros:
  • Low commission for stock trades
  • No account minimums
  • Ally LIVE platform
Cons:
  • No physical locations
Bottom LineGood robo-advisor with socially responsible and Halal investment options, though fees are high... Read full reviewGood low-price discount stock broker for savvy investors... Read full review
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Get $10,000 Managed for Free for Your First Year

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 5/10/2019.

    WealthSimple: Disclaimer: CreditDonkey has entered into a referral and advertising arrangement with Wealthsimple US, LTD and receives compensation when you open an account or for certain qualifying activity which may include clicking links. You will not be charged a fee for this referral and Wealthsimple and CreditDonkey are not related entities. It is a requirement to disclose that we earn these fees and also provide you with the latest Wealthsimple ADV brochure so you can learn more about them before opening an account.

    Which is Better: WealthSimple or Ally Invest?

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


    Articles on WealthSimple


    Articles on Ally Invest


    Which Do You Think is Best?


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