Save money and be informed. CreditDonkey is a personal finance comparison and reviews website. This website is made possible through financial relationships with card issuers and some of the products and services mentioned on this site. Advertiser Disclosure†

Robinhood vs Ally Invest

Robinhood is a free way to trade stocks with limited bells and whistles. How does it compare to Ally Invest? Read our comparison chart below.

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.

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

 RobinhoodAlly Invest
 Visit SiteVisit Site
 

Robinhood

Ally Invest

OFFER
Get a Free Stock (worth between $2.50 and $200) - Learn More

Read Robinhood Review

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

Read Ally Invest Review

 

Benefits and Features

Stock Trading
$0
$0 per trade
Options Trading
$0
$0 base + $0.50 per contract
Annual FeeAll trades are commission-free. No platform fees. 
Minimum Deposit
$0
$0
Mutual Fund Trading
No
$0 to buy/sell load mutual funds
$9.95 to buy/sell no load mutual funds
Commission Free ETFsAll U.S. listed ETFs
500+
Phone Support
No
 
Live Chat Support
No
 
Email Support
Yes
 
Human Advisors
No
 
Robo Advisor
No
 
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
Not available
$20 + Regular Commission
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)
 
BankingNo service fees for Robinhood Cash Management account. Free debit card with no in-network ATM fees or foreign transaction feesIntegrated with banking on ally.com. Manage your Ally banking and investment accounts in one place.
Mobile App 
Check
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

 RobinhoodAlly Invest
Stock TradingStarStarStarStarStarStarStarStarStarStar
Options TradingStarStarStarStarEmpty StarStarStarStarStarStar
Mobile AppStarStarStarStarEmpty StarStarStarStarHalf StarEmpty Star
Commissions and FeesStarStarStarStarStarStarStarStarStarStar
Ease of UseStarStarStarStarStarStarStarStarStarEmpty Star
ResearchStarEmpty StarEmpty StarEmpty StarEmpty StarStarStarStarHalf StarEmpty Star
BankingStarStarStarStarHalf Star
Online CommunityStarStarStarStarStar
Trading PlatformStarStarStarStarEmpty Star
Pros & ConsPros:
  • Commission-free trades
  • No minimum
  • Extended trading hours
Cons:
  • No IRAs
  • Limited research
  • No mutual funds & bonds
Pros:
  • Low commission for stock trades
  • No account minimums
  • Ally platform
Cons:
  • No physical locations
Bottom LineFree way to trade stocks with limited bells and whistles... Read full reviewGood low-price discount stock broker for savvy investors... 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.

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

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

Which is Better: Robinhood or Ally Invest?

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

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


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.

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.

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.

Which Do You Think is Best?





You Might Also Like

Small Investments That Make Money

Small Investments That Make Money

You don't need to be rich to start investing. Here are 15 easy ways to invest small amounts of money.
Can I Have Multiple Trading Accounts

Can I Have Multiple Trading Accounts

Is it a good (or bad) idea to have multiple trading accounts? Find out what you need to know about having two or more investment accounts.
The Best Way to Invest $30,000

The Best Way to Invest $30,000

What can you do with $30k? Here are the best ways to invest your savings. Think about what it'll be worth in 20 years if you start now.
How to Invest Money: Make Money Work for You

How to Invest Money: Make Money Work for You

To make money, you need to invest money wisely. Here are smart ways beginners can start investing in stocks and real estate, even with little money.
Chase You Invest Review
Chase

Chase You Invest Review

Chase You Invest App has a bonus promotion, low fees and mutual funds trading. But is it good for beginners? Read this review for the pros and cons.
Residual Income

Residual Income

How do you get residual (or passive) income? And why is it so important? Take a look at real examples to get started.
Best Investment Apps for Beginners

Best Investment Apps for Beginners

Looking to start investing? You can begin with as little as $5. Check out these cheap (or free) apps for new investors.
Firstrade Review: Is It Good?

Firstrade Review: Is It Good?

In a perfect world, investors look for low commissions, a clean user interface, and plentiful research. Oftentimes you have to give up one of these features to have another, but not with Firstrade. This online discount broker offers a variety of benefits for new and established investors.
The Best Way to Invest $100

The Best Way to Invest $100

$100 may not seem like much, but you can make it grow into more. Here are 10 clever ways to turn $100 into a better future.
Best Short Term Investment Options

Best Short Term Investment Options

The best short term investment options provide good returns with low risk. Here are the top 10 strategies for your short term goals.

Next Page:

About CreditDonkey
CreditDonkey is a personal finance comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

About Us | Reviews | Deals | Tips | Privacy | Do Not Sell My Info | Terms | Contact Us
(888) 483-4925 | 680 East Colorado Blvd, 2nd Floor | Pasadena, CA 91101
© 2021 CreditDonkey Inc. All Rights Reserved.