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.
Learn More | Learn More | |
WealthSimple | Ally Invest | |
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Wealthsimple Cash Account - | Commission-Free Stock Trades - | |
Benefits and Features | ||
Stock Trading | ||
Options Trading | ||
Annual Fee | 0.5% for accounts up to $100k; 0.4% for accounts over $100k | |
Minimum Deposit | ||
Mutual Fund Trading |
| |
Commission Free ETFs | ||
Phone Support | Yes - M-Th 9a-8p ET; Fri 9a-5:30p ET | |
Live Chat Support | ||
Email Support | ||
Human Advisors | ||
Robo Advisor | ||
Assets Under Management | ||
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 | ||
Automatic Deposits | ||
Broker Assisted Trades | ||
Online Platform | ||
iPhone App | ||
Android App | ||
Banking | Integrated with banking on ally.com. Manage your Ally banking and investment accounts in one place. | |
Mobile App | ||
Forex Trading | ||
Customer Service | ||
Fractional Shares | ||
Taxable Accounts | ||
401k Plans | ||
IRA Accounts | ||
Roth IRA Accounts | ||
SEP IRA Accounts | ||
Trust Accounts | ||
529 Plans | ||
CreditDonkey® Reviews | ||
Annual Fee | ||
Minimum Deposit | ||
Human Advisors | ||
Customer Service | ||
Social Responsibility | ||
Stock Trading | ||
Options Trading | ||
Mutual Fund Trading | ||
Banking | ||
Mobile App | ||
Commissions and Fees | ||
Ease of Use | ||
Online Community | ||
Research | ||
Trading Platform | ||
Pros & Cons | Pros:
| Pros:
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Bottom Line | Good robo-advisor with socially responsible and Halal investment options, though fees are high... | Good low-price discount stock broker for savvy investors... |
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. |
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 Robinhood.