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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.

 WealthSimpleAlly Invest
 Learn MoreVisit Site
 

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 Fee0.5% 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 SupportYes - M-Th 9a-8p ET; Fri 9a-5:30p ET 
Live Chat Support
No
 
Email Support
Yes
 
Human Advisors
Yes
 
Robo Advisor
Check
 
Assets Under Management
$2 Billion
 
Penny Stocks $0.01 per share on the entire order for stocks priced less than $2.00.
Tax Loss HarvestingAvailable 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 
Check
Forex Trading 
Check
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

 WealthSimpleAlly Invest
Annual FeeStarStarStarEmpty StarEmpty Star
Minimum DepositStarStarStarStarStar
Human AdvisorsStarStarStarStarEmpty Star
Customer ServiceStarStarStarStarEmpty Star
Social ResponsibilityStarStarStarStarStar
Stock TradingStarStarStarStarStar
Options TradingStarStarStarStarStar
BankingStarStarStarStarHalf Star
Mobile AppStarStarStarHalf StarEmpty Star
Commissions and FeesStarStarStarStarStar
Ease of UseStarStarStarStarEmpty Star
Online CommunityStarStarStarStarStar
ResearchStarStarStarHalf StarEmpty Star
Trading PlatformStarStarStarStarEmpty Star
Pros & ConsPros:
  • 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 LineGood robo-advisor with socially responsible and Halal investment options, though fees are high... Read full reviewGood low-price discount stock broker for savvy investors... Read full review
 Learn MoreVisit Site

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 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.

Articles on Ally Invest

Ally Invest Reviews

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 no commission trades. Is it right for your retirement funds? Read on to learn how Ally Invest Roth IRA accounts work.

Ally Invest Login

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?





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