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Scottrade vs Ally Invest

Scottrade is a solid choice for cost-conscious traders who are familiar with online investing. How does it compare to Ally Invest? Read our comparison chart below.

Scottrade offers stock trades at $6.95 per trade and more than 500 branch office locations. There is a $2,500 minimum deposit, no maintenance fee and no inactivity fee.

While Ally Invest (formerly TradeKing) offers stock trades at $4.95 per trade and options trading at $4.95 + $0.65 per contract. There is no minimum deposit.

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

 ScottradeAlly Invest
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Scottrade

Ally Invest

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Get Up to $3,500 Cash Bonus and Commission Free Trades for 90 Days - Learn More

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Benefits and Features

Stock Trading
$6.95 per trade
$4.95 per trade ($3.95 per equity trade special pricing for high-volume/high-balance traders)
Options Trading
$6.95 + $0.70 per contract
$4.95 base + $0.65 per contract (50 cents per options contract special pricing for high-volume/high-balance traders)
Minimum Deposit$2,500 for brokerage accounts
No account minimum for retirement accounts
$0
Mutual Fund TradingNo 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
$0 to buy/sell load mutual funds
$9.95 to buy/sell no load mutual funds
Commission Free ETFs 100+ including ETFs from WisdomTree
Penny Stocks$6.95 per trade + 0.5% principal for any stock trading under $1$0.01 per share on the entire order for stocks priced less than $2.00. Maximum commission per order not to exceed 5% of the trade value, with minimum commission of $4.95.
Broker Assisted Trades
$32
$20 + Regular Commission
Customer Service(800) 619-7283 (Monday to Friday 6am to 1am Eastern; Saturday and Sunday 9am to 7pm Eastern)
(855) 880-2559 (Open 24/7)
Inactivity Fee
$0
 
Maintenance Fee
$0
 
BankingScottrade Bank has no monthly maintenance fees, ATM reimbursement program, online bill pay, and mobile banking.Integrated with banking on ally.com. Manage your Ally banking and investment accounts in one place.
Mobile App
Desktop AppScottradeELITE (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 
Futures Trading 
Locations
More than 500 branch locations
 
Online Community Trader Network to connect with other investors
SeminarsIn-person branch seminars, online events and live webinars 
Virtual TradingScottradeELITE offers virtual trading 
 

CreditDonkey® Reviews

 ScottradeAlly Invest
Stock Trading
Options Trading
Customer Service
Banking
Mobile App
Commissions and Fees
Ease of Use
Research
Trading Platform
Online Community
Pros & ConsPros:
  • Low per trade fees
  • Physical locations
  • Easy-to-navigate website
Cons:
  • No futures trading
  • High broker-assisted fee
Pros:
  • Low commission for stock trades
  • No account minimums
  • Ally LIVE platform
Cons:
  • No physical locations
Bottom LineSolid choice for cost-conscious traders who are familiar with online investing... Read full reviewGood low-price discount stock broker for savvy investors... Read full review
 Learn MoreVisit Site

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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.

    Scottrade: TD Ameritrade has acquired Scottrade. Scottrade accounts will convert to TD Ameritrade on 2/26/2018. Pricing information from published website as of 03/27/2017

    Ally Invest: Pricing information from published website as of 09/18/2017

    Which is Better: Scottrade or Ally Invest?

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

    In short: Scottrade's ease of use is impressive. Ally Invest's stock trading, options trading, banking, and commissions and fees are impressive.


    Explore Scottrade In-Depth


    Explore Ally Invest In-Depth

      Ally Invest

      Ally Invest (formerly TradeKing) offers one of the lowest trade fees, but is it good? Learn the pros and cons and see comparisons with other online brokers in this in-depth review.

      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.

    Which Do You Think is Best?

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