June 7, 2019

Ally Invest Fees

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Ally Invest offers managed portfolios for low fees and no minimum deposit for self-directed trades. But is it good for beginners? Read on for the answer.

Ally Invest offers both self-directed trading and managed portfolio services at low cost. 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.

Stock and ETFs$4.95 per trade
Options$4.95 + $0.65 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

This is about on par with other budget brokers, and less than E*Trade and TD Ameritrade.

Discount for Active Traders

Ally Invest offers a discount for stocks and ETF trades to high-volume or high-balance traders. You get a discount if you make 30 or more trades per quarter OR have a daily balance of $100,000 or more.

The discounted fees are:

  • Stock and ETFs: $3.95 per trade
  • Options: $3.95 + $0.50 per contract

No-Fee Funds

Ally Invest offers over 110 commission-free ETFs. The majority are from WisdomTree, covering domestic, international, and global equities, fixed income, currencies, commodities, and alternative strategies.

There are also about 30 iShares ETFs, which includes socially responsible funds.

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

In comparison, Ally Invest falls short in their commission-free funds offerings, though there is still a decent selection. It also 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 Managed Portfolios Fees

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

The annual fee is 0.30% of your assets under management. The minimum amount to start is $100.

This is a little bit higher than other robo-advisors, but also not the most expensive.

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 more commission-free ETFs and no-transaction-fee mutual funds. Mutual fund traders may want to look elsewhere.

Disclaimer: Opinions expressed here are author's alone. Please support CreditDonkey on our mission to help you make savvy decisions. Our free online service is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content.

TD Ameritrade has not influenced the content of CreditDonkey. CreditDonkey may earn compensation for accounts opened at TD Ameritrade.

More from CreditDonkey:

Ally Invest Review

How to Invest $100

Ally Invest Phone Number

More Articles in Money Tips

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