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Ally Invest vs Charles Schwab

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

Ally Invest (formerly TradeKing) offers stock trades at $0 per trade and options trading at $0 + $0.50 per contract. There is no minimum deposit.

While Charles Schwab offers stock and ETF trades at $0 commission and options trading at $0 commission + $0.65 per contract. There is no minimum deposit, no maintenance fee, and no inactivity fee.

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

 Ally Invest
 Visit SiteLearn More
 

Ally Invest

Charles Schwab

SPECIAL OFFER
Get Up to $3,000 - Learn More

Read Ally Invest Review

SPECIAL OFFER
$0 Commissions on Online Stock, ETF, and Options Trades - Learn More

Read Charles Schwab Review

 

Benefits and Features

Stock Trading
$0 per trade
$0 commission on U.S. stocks and ETFs
Options Trading
$0 base + $0.50 per contract
$0 + $0.65 per contract
Minimum Deposit
$0
$0
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 $49.95 for all other funds
Commission Free ETFs
500+
2,000+ across asset classes and fund companies, $0 commission through Schwab ETF OneSourceā„¢.
Penny Stocks$0.01 per share on the entire order for stocks priced less than $2.00. 
Broker Assisted Trades
$20 + Regular Commission
$25.00 service charge
Customer Service
(855) 880-2559
24/7
Inactivity Fee 
None
Maintenance Fee 
$0
BankingIntegrated with banking on ally.com. Manage your Ally banking and investment accounts in one place.
Yes
Mobile App
Check
Yes
Desktop App 
Yes
Forex Trading
Check
 
Futures Trading 
$1.50 per contract
Locations 
300 locations
Online Community 
Yes
Seminars 
Yes
Virtual Trading 
No
 

CreditDonkey® Reviews

 Ally Invest
Stock TradingStarStarStarStarStarStarStarStarStarHalf Star
Options TradingStarStarStarStarStarStarStarStarHalf StarEmpty Star
BankingStarStarStarStarHalf StarStarStarStarStarStar
Mobile AppStarStarStarHalf StarEmpty StarStarStarStarHalf StarEmpty Star
Commissions and FeesStarStarStarStarStarStarStarStarEmpty StarEmpty Star
Ease of UseStarStarStarStarEmpty StarStarStarStarStarEmpty Star
Online CommunityStarStarStarStarStar
ResearchStarStarStarHalf StarEmpty StarStarStarStarStarStar
Trading PlatformStarStarStarStarEmpty Star
Mutual Fund TradingStarStarStarStarEmpty Star
Online PlatformStarStarStarStarStar
Pros & ConsPros:
  • Low commission for stock trades
  • No account minimums
  • Ally platform
Cons:
  • No physical locations
Pros:
  • Vast selection of commission-free ETFs and mutual funds
  • 2 platforms (one for beginners and one for advanced traders)
  • 24/7 customer service including online chat
Cons:
  • Commission costs on mutual funds outside of the commission-free funds
  • Robo-advisor option requires a minimum investment of $5,000
Bottom LineGood low-price discount stock broker for savvy investors... Read full reviewGood choice for beginning and advanced investors looking to invest in ETFs and mutual funds or investors that require extensive research... Read full review
 Visit SiteLearn More

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 04/01/2021.

Charles Schwab: Pricing information from published websites as of 07/10/2020.

Which is Better: Ally Invest or Charles Schwab?

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

In short: Ally Invest's options trading and commissions and fees are impressive. Charles Schwab's research is excellent.


Articles on Ally Invest

Ally Trading

Ally Invest offers free trades for stocks and ETFs. But is it good? Find out how it compares to other online brokers.

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.

Ally Invest Login

Ally Invest offers good customer service and online login access. The best way to connect with Ally Invest customer service may surprise you. Read on.

Articles on Charles Schwab

Charles Schwab

Charles Schwab is one of the oldest names in the world of investing. With low fees, no account minimums, and robust research tools, it's a good brokerage for all levels of investors.

Which Do You Think is Best?





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