WealthSimple vs Ally Invest

WealthSimple is a good robo-advisor with socially responsible and Halal investment options, though fees are high. How does it compare to Ally Invest? Read our comparison chart below.

WealthSimple offers auto-investing with support from real advisors, including a free portfolio review of all your finances. However, fees are higher at 0.5% for accounts $100k and less (and 0.4% for accounts over $100k). It also stands out by offering socially responsible and Halal investment options. There is no minimum to open an account.

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

	WealthSimple	Ally Invest


		SPECIAL OFFER Commission-Free Stock Trades - Learn More Read Ally Invest Review
	Benefits and Features
Stock Trading		$0 per trade
Options Trading		$0 base + $0.50 per contract
Annual Fee	0.5% for accounts up to $100k; 0.4% for accounts over $100k
Minimum Deposit	$0	$0
Mutual Fund Trading		$0 to buy/sell load mutual funds $9.95 to buy/sell no load mutual funds
Commission Free ETFs		500+
Phone Support	Yes - M-Th 9a-8p ET; Fri 9a-5:30p ET
Live Chat Support	No
Email Support	Yes
Human Advisors	Yes
Robo Advisor
Assets Under Management	$2 Billion
Penny Stocks		$0.01 per share on the entire order for stocks priced less than $2.00.
Tax Loss Harvesting	Available for accounts over $100,000
Goal Tracker	No
Automatic Deposits	Yes
Broker Assisted Trades		$20 + Regular Commission
Customer Service		(855) 880-2559
Online Platform	Yes
iPhone App	Yes
Android App	Yes
Banking		Integrated with banking on ally.com. Manage your Ally banking and investment accounts in one place.
Mobile App
Forex Trading
Fractional Shares	Yes
Taxable Accounts	Yes
401k Plans	No
IRA Accounts	Yes
Roth IRA Accounts	Yes
SEP IRA Accounts	Yes
Trust Accounts	Yes
529 Plans	No
	CreditDonkey® Reviews

Annual Fee
Minimum Deposit
Human Advisors
Customer Service
Social Responsibility
Stock Trading
Options Trading
Banking
Mobile App
Commissions and Fees
Ease of Use
Online Community
Research
Trading Platform
Pros & Cons	Pros: Human advisors No minimum investment Socially responsible and Halal investment options Cons: Higher fees than competitors No personal finance tools Tax loss harvesting only to high balance accounts	Pros: Low commission for stock trades No account minimums Ally platform Cons: No physical locations
Bottom Line	Good robo-advisor with socially responsible and Halal investment options, though fees are high... Read full review	Good low-price discount stock broker for savvy investors... Read full review

		Commission-Free Stock Trades Open an Ally Invest account Automated Investing to Help Save Your Time
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 04/01/2021.

Commission-Free Stock Trades

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With no minimum account balance and no minimum trade activity

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Automated Investing to Help Save Your Time

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Which is Better: WealthSimple or Ally Invest?

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

Articles on WealthSimple

Wealthsimple

Wealthsimple is a robo advisor with features you should not ignore. But are the higher fees worth it? Read this review to find out what this automatic investing service can do and the pros and cons.