Ally Invest is an online stockbroker that offers a variety of investment services to its clients. Here is an overview of the features, pros, and cons of using Ally Invest:
Ally Invest Features:
- Low trading fees: Ally Invest offers some of the lowest trading fees in the industry, making it an affordable option for investors.
- Wide range of investment options: Ally Invest offers a variety of investment options including stocks, options, ETFs, bonds, mutual funds, and more.
- Robust trading platform: The Ally Invest trading platform is user-friendly and offers a variety of advanced trading tools and features.
- No account minimums: Ally Invest does not require a minimum account balance to start investing.
- Access to research and education: Ally Invest provides its customers with access to a wide range of educational resources and market research tools.
- Low trading fees: Ally Invest offers some of the lowest trading fees in the industry, making it an affordable option for investors.
- Wide range of investment options: With access to a variety of investment options, Ally Invest customers can create a well-diversified portfolio.
- User-friendly trading platform: The Ally Invest trading platform is easy to use, even for novice investors, and offers a variety of advanced trading tools.
- No account minimums: Ally Invest does not require a minimum account balance to start investing, making it accessible to a wide range of investors.
- Strong customer service: Ally Invest provides excellent customer service and support to its clients.
- Limited research options: While Ally Invest provides access to some research and educational resources, it may not be as extensive as what some other brokers offer.
- Limited trading tools for advanced traders: While the trading platform offers some advanced trading tools, it may not be as comprehensive as what some advanced traders need.
- No fractional shares: Ally Invest does not offer the ability to purchase fractional shares, which may limit the ability of some investors to diversify their portfolio.
- Limited cryptocurrency options: Ally Invest does not offer cryptocurrency trading, which may be a disadvantage for investors who want to invest in this asset class.
- Limited international trading: Ally Invest is primarily focused on the US market, so investors looking to trade international stocks may need to look elsewhere.
- Low fees: Ally Invest offers competitive pricing with no account minimums, no annual fees, and no hidden fees.
- User-friendly platform: Ally Invest’s trading platform is easy to use, with customizable dashboards, interactive charts, and real-time quotes.
- Extensive investment options: Ally Invest offers a wide range of investment options, including stocks, bonds, ETFs, options, and mutual funds.
- Educational resources: Ally Invest provides its clients with a variety of educational resources, including webinars, online courses, and market analysis tools.
- Excellent customer support: Ally Invest has a dedicated customer support team available to assist clients with any questions or issues they may have.
- Low Fees: Ally Invest offers some of the lowest trading fees in the industry, with a flat fee of $0.00 per online trade for stocks, ETFs, and options. Additionally, there are no minimum account balances or maintenance fees.
- Investment Tools and Resources: Ally Invest provides a range of investment tools and resources, including streaming quotes, charting tools, technical analysis, and market data. They also offer a wide range of educational resources to help investors make informed investment decisions.
- User-Friendly Platform: Ally Invest’s online trading platform is user-friendly and easy to navigate, making it a good option for both beginners and experienced investors.
- Good Customer Support: Ally Invest provides excellent customer support, with 24/7 phone support, live chat, and email support. They also have a comprehensive FAQ section on their website that answers many common questions.
- Integration with Ally Bank: If you already have an account with Ally Bank, you can easily integrate your Ally Invest account with your Ally Bank account, making it easy to manage your finances in one place.
What types of accounts can I open with Ally Invest?
You can open a variety of accounts with Ally Invest, including individual brokerage accounts, joint brokerage accounts, traditional and Roth IRAs, and custodial accounts.
What investment products can I trade with Ally Invest?
Ally Invest allows you to trade a range of investment products, including stocks, ETFs, options, mutual funds, and bonds.
What are Ally Invest’s commission rates?
Ally Invest offers commission-free trades on stocks, ETFs, and options, with options contracts costing $0.50 per contract. Mutual fund trades cost $9.95 per transaction.
Does Ally Invest offer any research tools or educational resources?
Yes, Ally Invest provides a range of research tools and educational resources, including market data and analysis, investment screeners, and webinars.
Is Ally Invest safe and secure?
Ally Invest is a member of the Securities Investor Protection Corporation (SIPC), which protects customer accounts up to $500,000 in the event of broker failure. Ally Invest also uses advanced security measures to protect customer data and transactions.