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Interactive Brokers vs Ally Invest

Interactive Brokers is a good discount broker for experienced, high volume traders. . How does it compare to Ally Invest? Read our comparison chart below.

Interactive Brokers offers trades starting at just 0.5 cents per share. It also offers a tiered pricing plan that awards high volume traders with even lower rates. There is a $10,000 opening account minimum ($3,000 for clients 25 and younger). There is a monthly activity fee unless required commission minimums are met.

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

 Ally Invest
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Interactive Brokers

Ally Invest

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Benefits and Features

Stock TradingFixed pricing: $0.005 per share (min $1 per order, max 1.0% of trade value). Tiered pricing: Starts at $0.0035 per share for less than 300,000 shares (min $0.35 per order, max 1% of trade value)
$0 per trade
Options Trading$.15-$.70 per contract ($1 minimum per order)
$0 base + $0.50 per contract
Minimum Deposit$10,000 for individual accounts; $5,000 for IRAs; $3,000 for clients 25 and under
$0
Mutual Fund Trading$0 for no-transaction-fee funds. For transaction-fee funds, 3% trade value OR $14.95, per transaction, whichever is less, for transaction-fee funds$0 to buy/sell load mutual funds
$9.95 to buy/sell no load mutual funds
Commission Free ETFs
48
500+ including ETFs from WisdomTree
Penny Stocks $0.01 per share on the entire order for stocks priced less than $2.00.
Broker Assisted Trades
$30
$20 + Regular Commission
Customer ServiceUnited States: Monday-Friday 8am - 10pm ET; Sunday 1pm - 7pm ET (24/7 Weekday service available in other countries)
(855) 880-2559 (Open 24/7)
Inactivity Fee$10/month for accounts under $100,000; $20/month for accounts under $2,000; $3/month for clients 25 and younger 
Maintenance FeeWaived if account value is at least $100,000 OR if monthly commission requirements are met. If not met, the activity fee is the difference. For accounts less than $100,000: the commission requirement is $10/month. For accounts less than $2,000: the commission requirement is $20/month. For clients 25 and younger: the commission requirement is $3/month. 
Banking
No
Integrated with banking on ally.com. Manage your Ally banking and investment accounts in one place.
Mobile App
Yes
Desktop App
Yes
 
Forex TradingAvailable for qualified customers
Futures Trading
Yes
 
Locations
No
 
Online Community
Yes
 
Seminars
Yes
 
Virtual Trading
Yes
 
 

CreditDonkey® Reviews

 Ally Invest
Stock Trading
Options Trading
Mutual Fund Trading
Online Platform
Banking
Mobile App
Commissions and Fees
Ease of Use
Research
Online Community
Trading Platform
Pros & ConsPros:
  • Large number of investments, including options, futures, and forex
  • Customize trading platform
  • Tools and opportunities for research
Cons:
  • $10,000 minimum to open an account.
  • Platform can be too much for a beginner to understand
  • Inactivity fees if you don't meet the trade commission requirements.
Pros:
  • Low commission for stock trades
  • No account minimums
  • Ally LIVE platform
Cons:
  • No physical locations
Bottom LineGood discount broker for experienced, high volume traders... Read full reviewGood low-price discount stock broker for savvy investors... Read full review
 Learn MoreVisit Site
What Others View

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

    Interactive Brokers: Pricing information from published websites as of 09/15/2019.

    Ally Invest: Pricing information from published website as of 07/18/2019.

    Which is Better: Interactive Brokers or Ally Invest?

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

    In short: Interactive Brokers' mobile app is outstanding. Ally Invest's banking, commissions and fees, and ease of use are noteworthy. In particular, the banking and commissions and fees are impressive.


    Articles on Interactive Brokers


    Articles on Ally Invest

      Ally Invest

      Ally Invest (formerly TradeKing) offers free trades for stocks and ETFs, but is it good? Learn the pros and cons and see comparisons with other online brokers in this in-depth review.

      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 Fees

      Ally Invest offers Cash-Enhanced Managed Portfolio for no advisory fees and no minimum deposit for self-directed trades. But is it good for beginners? Read on for the answer.

      Ally Invest Login

      Ally Invest offers 24/7 customer service and online login access. The best way to connect with Ally Invest customer service may surprise you. Read on.

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