Ally Invest vs Scottrade
Ally Invest is a good low-price discount stock broker for savvy investors. How does it compare to Scottrade? 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 Scottrade offers stock trades at $6.95 per trade and more than 275 branch office locations. There is a $2,500 minimum deposit, no maintenance fee and no inactivity fee.
Compare Ally Invest with Scottrade, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.
 | ||
 |  | |
Ally Invest | Scottrade | |
|---|---|---|
Get Up to $3,500 - | Open an Account - | |
Benefits and Features | ||
| Stock Trading | ||
| Options Trading | ||
| Minimum Deposit | $2,500 for brokerage accounts No account minimum for retirement accounts | |
| Mutual Fund Trading | $0 to buy/sell load mutual funds $9.95 to buy/sell no load mutual funds | No Fee to Buy/Sell/Exchange No-Load, No-Transaction Fee Funds $17 to Buy/Sell/Exchange No-Load Funds $0 to Buy Load Funds and $17 to Sell/Exchange Load Funds |
| Commission Free ETFs | ||
| Penny Stocks | $0.01 per share on the entire order for stocks priced less than $2.00. | $6.95 per trade + 0.5% principal for any stock trading under $1 |
| Broker Assisted Trades | ||
| Customer Service | ||
| Inactivity Fee | ||
| Maintenance Fee | ||
| Banking | Integrated with banking on ally.com. Manage your Ally banking and investment accounts in one place. | Scottrade Bank has no monthly maintenance fees, ATM reimbursement program, online bill pay, and mobile banking. |
| Mobile App |  | |
| Desktop App | ScottradeELITE (requires you execute 9 or more stock or option trades during the past 3 months, have $25,000 in your primary account, or have $15,000 in your primary account and combined linked assets of $25,000 or more) | |
| Forex Trading | | |
| Locations | ||
| Seminars | In-person branch seminars, online events and live webinars | |
| Virtual Trading | ScottradeELITE offers virtual trading | |
CreditDonkey® Reviews | ||
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| Stock Trading |  |  |
| Options Trading | | |
| Banking | | |
| Mobile App |  | |
| Commissions and Fees | | |
| Ease of Use | | |
| Online Community | | |
| Research | | |
| Trading Platform | | |
| Customer Service | | |
| Pros & Cons | Pros:
| Pros:
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| Bottom Line | Good low-price discount stock broker for savvy investors... | Solid choice for cost-conscious traders who are familiar with online investing... |
| | |
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 07/18/2019. Scottrade: TD Ameritrade has acquired Scottrade. Scottrade accounts will convert to TD Ameritrade on 2/26/2018. Pricing information from published website as of 07/17/2020 | ||
Which is Better: Ally Invest or Scottrade?
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 stock trading, options trading, banking, and commissions and fees are impressive. Scottrade's ease of use is impressive.
Articles on Ally Invest
Ally Invest Reviews
Ally Invest Fees
Ally Invest Roth IRA
Ally Invest Phone Number
Articles on Scottrade
Scottrade
Which Do You Think is Best?
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