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Charles Schwab vs Ally Invest

Charles Schwab is a good choice for beginning and advanced investors looking to invest in ETFs and mutual funds or investors that require extensive research. How does it compare to Ally Invest? Read our comparison chart below.

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.

While 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.

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

 Ally Invest
 Learn MoreVisit Site
 

Charles Schwab

Ally Invest

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

Read Charles Schwab Review

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

Read Ally Invest Review

 

Benefits and Features

Stock Trading$0 commission on U.S. stocks and ETFs
$0 per trade
Options Trading
$0 + $0.65 per contract
$0 base + $0.50 per contract
Minimum Deposit
$0
$0
Mutual Fund Trading$0 for no-transaction-fee funds $49.95 for all other funds$0 to buy/sell load mutual funds
$9.95 to buy/sell no load mutual funds
Commission Free ETFs2,000+ across asset classes and fund companies, $0 commission through Schwab ETF OneSourceā„¢.
500+
Penny Stocks $0.01 per share on the entire order for stocks priced less than $2.00.
Broker Assisted Trades
$25.00 service charge
$20 + Regular Commission
Customer Service
24/7
(855) 880-2559
Inactivity Fee
None
 
Maintenance Fee
$0
 
Banking
Yes
Integrated with banking on ally.com. Manage your Ally banking and investment accounts in one place.
Mobile App
Yes
Check
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 TradingStarStarStarStarHalf StarStarStarStarStarStar
Options TradingStarStarStarHalf StarEmpty StarStarStarStarStarStar
Mutual Fund TradingStarStarStarStarEmpty Star
Online PlatformStarStarStarStarStar
BankingStarStarStarStarStarStarStarStarStarHalf Star
Mobile AppStarStarStarHalf StarEmpty StarStarStarStarHalf StarEmpty Star
Commissions and FeesStarStarStarEmpty StarEmpty StarStarStarStarStarStar
Ease of UseStarStarStarStarEmpty StarStarStarStarStarEmpty Star
ResearchStarStarStarStarStarStarStarStarHalf StarEmpty Star
Online CommunityStarStarStarStarStar
Trading PlatformStarStarStarStarEmpty Star
Pros & ConsPros:
  • 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
Pros:
  • Low commission for stock trades
  • No account minimums
  • Ally platform
Cons:
  • No physical locations
Bottom LineGood choice for beginning and advanced investors looking to invest in ETFs and mutual funds or investors that require extensive research... Read full reviewGood low-price discount stock broker for savvy investors... Read full review
 Learn MoreVisit Site

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

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

Ally Invest: Pricing information from published website as of 04/01/2021.

Which is Better: Charles Schwab or Ally Invest?

Still need help deciding which investing is better? Read the in-depth reviews below. You may also be interested in comparing Charles Schwab or TD Ameritrade.

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


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.

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.

Which Do You Think is Best?





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