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.

		Charles SchwabRobinhoodTD AmeritradeBettermentAcorns
	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 OneSource™.
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
Banking	Integrated with banking on ally.com. Manage your Ally banking and investment accounts in one place.	Yes
Mobile App		Yes
Desktop App		Yes
Forex Trading
Futures Trading		$1.50 per contract
Locations		300 locations
Online Community		Yes
Seminars		Yes
Virtual Trading		No
	CreditDonkey® Reviews
Stock Trading
Options Trading
Banking
Mobile App
Commissions and Fees
Ease of Use
Online Community
Research
Trading Platform
Mutual Fund Trading
Online Platform
Pros & Cons	Pros: 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 Line	Good low-price discount stock broker for savvy investors... Read full review	Good choice for beginning and advanced investors looking to invest in ETFs and mutual funds or investors that require extensive research... Read full review
	Get Up to $3,000 Get Up to $3,000 Cash Bonus Commission-Free Stock Trades	$0 Commissions on Online Stock, ETF, and Options Trades 500 Commission-Free Online and Options Trades New Schwab Client - $100 Bonus
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.

Get Up to $3,000

Get Cash Bonus

Expires 12/31/2021

The minimum qualifying deposit to receive a cash bonus is $10,000. Accounts will be reviewed 60 days after account opening to determine the total qualifying deposit. Corresponding cash bonus will be credited to the account within 10 business days. Once the bonus is credited to the account, the bonus and qualifying deposit (minus any trading losses) is not available for withdrawal for 300 days. If the qualifying deposit is withdrawn, the bonus may be revoked.

Deposit or Transfer	Cash Bonus
$10,000 - $24,999	$100
$25,000 - $99,999	$250
$100,000 - $249,999	$300
$250,000 - $499,999	$600
$500,000 - $999,999	$1,200
$1,000,000 - $1,999,999	$2,000
$2,000,000+	$3,000

Get Up to $3,000 Cash Bonus

Get Cash Bonus

Expires 12/31/2021

New Ally Invest customers only. Account must be funded for at least 60 days to be eligible for cash bonus.

Commission-Free Stock Trades

Get Deal

With no minimum account balance and no minimum trade activity

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 Acorns.

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 vs Robinhood
• Ally Invest vs Fidelity
• Ally Invest vs TD Ameritrade

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 vs E*TRADE
• Ally Invest vs Vanguard
• Ally Invest vs Betterment

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.

• Ally Invest vs Acorns
• Ally Invest vs Merrill Edge

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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