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Ally Invest vs Robinhood

Ally Invest is a good low-price discount stock broker for savvy investors. How does it compare to Robinhood? 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 Robinhood offers $0 stock trades by cutting out physical offices and manual account management. Only basic stock trading can be performed on the mobile app. There is no minimum deposit or maintenance fee, though there is an optional paid premier customer tier starting at $5/month.

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

 Ally InvestRobinhood
 Visit SiteVisit Site
 

Ally Invest

Robinhood

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

Read Ally Invest Review

OFFER
Get a Free Stock (worth between $2.50 and $225) - Learn More

Read Robinhood Review

 

Benefits and Features

Stock Trading
$0 per trade
$0
Options Trading
$0 base + $0.50 per contract
$0
Annual Fee All trades are commission-free. No platform fees.
Cryptocurrency Trading 
Check
Minimum Deposit
$0
$0
Mutual Fund Trading$0 to buy/sell load mutual funds
$9.95 to buy/sell no load mutual funds
No
Commission Free ETFs
500+
All U.S. listed ETFs
Phone Support 
No
Live Chat Support 
No
Email Support 
Yes
Human Advisors 
No
Robo Advisor 
No
Assets Under Management 
$80 Billion
Penny Stocks$0.01 per share on the entire order for stocks priced less than $2.00. 
Tax Loss Harvesting 
No
Goal Tracker 
No
Automatic Deposits 
Yes
Broker Assisted Trades
$20 + Regular Commission
Not available
Customer Service
(855) 880-2559
 
Good For 
Beginners; Active traders
Inactivity Fee 
$0
Maintenance Fee 
$0
Online Platform 
Yes
iPhone App 
Yes (4 stars, 3.2m ratings)
Android App 
Yes (1.4 stars, 360k ratings)
BankingIntegrated with banking on ally.com. Manage your Ally banking and investment accounts in one place.No service fees for Robinhood Cash Management account. Free debit card with no in-network ATM fees or foreign transaction fees
Mobile App
Check
Yes
Two-Factor Authentication 
Yes
Forex Trading
Check
 
Locations 
No
Online Community 
No
Seminars 
No
Virtual Trading 
No
Fractional Shares 
Yes
Taxable Accounts 
Yes
401k Plans 
No
IRA Accounts 
No
Roth IRA Accounts 
No
SEP IRA Accounts 
No
Trust Accounts 
No
529 Plans 
No
 

CreditDonkey® Reviews

 Ally InvestRobinhood
Stock TradingStarStarStarStarStarStarStarStarStarStar
Options TradingStarStarStarStarStarStarStarStarStarEmpty Star
BankingStarStarStarStarHalf Star
Mobile AppStarStarStarHalf StarEmpty StarStarStarStarStarEmpty Star
Commissions and FeesStarStarStarStarStarStarStarStarStarStar
Ease of UseStarStarStarStarEmpty StarStarStarStarStarStar
Online CommunityStarStarStarStarStar
ResearchStarStarStarHalf StarEmpty StarStarEmpty StarEmpty StarEmpty StarEmpty Star
Trading PlatformStarStarStarStarEmpty Star
Minimum DepositStarStarStarStarStar
Customer ServiceStarEmpty StarEmpty StarEmpty StarEmpty Star
Pros & ConsPros:
  • Low commission for stock trades
  • No account minimums
  • Ally platform
Cons:
  • No physical locations
Pros:
  • Commission-free trades
  • No minimum
  • Extended trading hours
Cons:
  • No IRAs
  • Limited research
  • No mutual funds & bonds
Bottom LineGood low-price discount stock broker for savvy investors... Read full reviewFree way to trade stocks with limited bells and whistles... Read full review
 Visit SiteVisit Site

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.

Robinhood: Pricing information from published websites as of 04/18/2020.

Ally Invest

Get Up to $3,000

Expires Tomorrow

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 TransferCash 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

Ally Invest

Commission-Free Stock Trades

With no minimum account balance and no minimum trade activity

Ally Invest

Get Up to $3,000 Cash Bonus

Expires Tomorrow

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

Robinhood

College Students: $15 Bonus and One Free Stock

Sign up with an .edu email using the link below and link a bank account between September 15 and October 24 and receive $15 in your account.

Expires 10/24/2021
Robinhood

Commission-Free Trades

Trade stocks, funds, options, and cryptocurrencies

Which is Better: Ally Invest or Robinhood?

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 options trading and research are noteworthy. In particular, the options trading is impressive. Robinhood's ease of use is impressive.


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 Phone Number

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 Robinhood

Robinhood Review

Robinhood lets you trade stocks commission-free and has no account minimums. Is it safe? Are there hidden fees? Read on for the pros and cons.

Buy Bitcoin on Robinhood or Coinbase Pro

Robinhood and Coinbase Pro are two of the biggest names in retail investing and crypto trading. But which is best for buying Bitcoin?

Robinhood Alternatives

When it comes to buying stocks online, many think of Robinhood first. But how do other apps compare? Review these popular Robinhood alternatives.

Robinhood App

Thinking about trading on Robinhood? Good job on getting started investing! But first, there are 7 things you need to know before investing on Robinhood.

Which Do You Think is Best?





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