In this guide

  • Our verdict
  • Details
    • Self-Directed Trading
    • Managed Portfolios
  • Frequently asked questions
  • Your reviews
  • Ask a question
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Ally Invest review

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Ally Invest Self-Directed Trading
4.4
★★★★★
Finder score
Stock trade fee
$0
Minimum deposit
$0
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Our verdict

Ally Invest offers self-directed and automated trading with robust tools and features.

Consider Ally Invest if you want a well-rounded trading platform with diversified investment choices, advanced tools and features and optional automated investing. Look elsewhere if you want the option to trade fractional shares or have access to cryptocurrencies.

Best for: Beginner and intermediate traders and investors who want an easy-to-use trading platform with robust features.

Pros

  • Commission-free stock and ETF trades.
  • Self-directed trading and a free robo-advisor.
  • Solid lineup of tradable assets and account types.
  • Advanced charts and research tools.

Cons

  • No fractional share trading.
  • No direct access to cryptocurrencies.
  • No instant deposits.

In this guide

  • Our verdict
  • Details
    • Self-Directed Trading
    • Managed Portfolios
  • Frequently asked questions
  • Your reviews
  • Ask a question

finder.com's rating: 4.4 / 5.0

★★★★★

Ally Invest gives you access to a wide range of investments, plus helpful market research and analytic tools for your own use. But it doesn't offer fractional shares or futures contracts.

  • Consider Ally if you’re an active investor seeking an individual brokerage account or a passive investor seeking hands-off portfolio management.
  • Look elsewhere if you’re new to investing.

Details

Self-Directed Trading

Annual fee $0
Available asset types Stocks, Bonds, Options, Mutual funds, ETFs
Account types Brokerage, Retirement, Robo-Advisor
Government bond trade fee $1
Corporate bond trade fee $1
Mutual fund trade fee $9.95
Account transfer fee $50
Minimum deposit $0

Managed Portfolios

Account types Retirement, Robo-Advisor
Annual fee 0%
Available asset types ETFs

How we rated Ally Invest’s features

Fees

★★★★★

Commission-free stock and ETF trades, $0.50 per contract fee for options and competitive robo-advisory fees.
Available securities

★★★★★

Stocks, options, ETFs, mutual funds, fixed income and forex.
Customer support

★★★★★

Reach customer support quickly via phone, email or 24/7 live chat.
Mobile app

★★★★★

Its mobile app receives high marks from both Google and Apple users.
Research and tools

★★★★★

Advanced charts, analyst ratings and third-party research.
Reliability

★★★★★

No major outages have been reported.

To learn how our star ratings are calculated, read our methodology at the bottom of the page.

Ally Invest is best for beginner-to-intermediate traders and investors

Ally Invest is a solid option for beginners and intermediate traders and investors because it offers:

  • Easy-to-use web and mobile platforms
  • Helpful trading and research tools
  • A range of tradable assets and account types
  • Optional robo-advisory services

Take a self-directed approach to investing with ample tools at your disposal or hand the reins over to Ally and invest automatically using one of its robo portfolios.

What you can trade on Ally Invest

  • Stocks
  • Options
  • ETFs
  • Mutual funds
  • Fixed income
  • Forex (accounts held and maintained at GAIN Capital)

Account types available with Ally Invest

  • Individual
  • Joint
  • Custodial
  • Retirement
  • Coverdell

Where Ally Invest shines

As a leading digital financial services company, Ally Invest offers several big-broker features together with the streamlined trading experience you typically find with today’s mobile trading apps. Offering both self-directed and managed investing options — which not many brokers do — customers can trade stocks and exchange-traded funds (ETFs) without commission, or diversify into low-cost options, mutual funds and a range of fixed income securities. Ally Invest also offers access to forex trading through a partnership with GAIN Capital. For those who prefer a hands-off approach to investing, Ally Invest provides two robo-advisors — a free version that invests 30% of funds in cash and a more aggressive market-focused portfolio for 0.30% in annual advisory fees. For customers committing at least $100,000, Ally Invest also offers personalized wealth management.

All this is made available on a user-friendly platform, accessible on both the web and mobile, and equipped with advanced charts and in-depth research and analysis tools to support various investment strategies.

Where Ally Invest falls short

Unlike many other brokers, Ally Invest doesn’t offer fractional share trading or direct access to cryptocurrencies, which could feel limiting to some. Ally Invest also doesn’t offer instant deposits, a feature that allows an investor to start trading immediately after depositing funds (up to a certain amount) instead of having to wait for the funds to clear and possibly missing out on a trading opportunity. We opened an account and made a deposit and it took several hours before the account reflected that there were funds available for trading.

Ally Invest fees

Minimum deposit$0
Annual fee$0
Advisory fees0% for Cash-Enhanced Portfolio; 0.30% for Market-Focused Portfolio; 0.75–0.85% for Wealth Management
Stock and ETF trade fees$0; $4.95 per trade plus one cent per share on the entire order for stocks and ETFs under $2
Options trade and contract fees$0 commissions + 50 cents per contract fee
Mutual funds trade fees$0 for load funds; $9.95 for no-load funds
Bonds and Treasuries trade fees$1 per bond
Minimum investment amounts$100 per trade for OTCBB and pink sheet stocks; $10 minimum and $250 maximum required per bond or Treasury transaction; $100 to open a robo portfolio
Inactivity fee$0
Wire transfer (domestic)$0 incoming; $30 outgoing
Returned check, ACH or stop wire transfer fees$30
Outgoing account transfer fee$50

Is Ally Invest legit?

Yes. Ally Invest is a subsidiary of Ally Bank, a member of the Federal Deposit Insurance Corporation (FDIC) and Equal Housing Lender. Its securities products and services are offered through Ally Invest Securities, a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). Its advisory products are offered through Ally Invest Advisors, a Securities and Exchange Commission-registered investment advisor.

Ally Invest’s platform is easy to use

The following trading and research tools are available on Ally Invest:

  • Watchlists
  • TipRanks, CFRA and Morningstar-powered research
  • Analyst ratings and price targets
  • Customizable charts
  • Screeners
  • Morningstar and CFRA research reports

Ally Invest app

Ally Invest sits on the broader Ally app, along with banking, loans and any other accounts you have open with Ally. Within your investment account, toggle between an overview of your portfolio, a detailed view of your holdings, a tab for trading, one for research and a final tab with extra features like watchlists, transfers and settings. When performing research on a specific stock, tap the chart to customize with upper and lower indicators or compare multiple charts at once. For support, head back to the main Ally dashboard to connect and chat with a live agent.

Screen shot of Ally Invest app on smartphone

Ally Invest web tools

The Ally Invest web platform is a more robust version, complete with research reports from Morningstar and CFRA (for certain securities), more comprehensive fundamentals and analysis and advanced charts with even greater customization. A live customer support chat feature is available on the Ally Invest web platform as well.

Ally Invest’s app store reviews

Google Play app reviews3.8/5 stars based on over 25,000 reviews
Apple App Store app reviews4.7/5 stars based on over 51,000 reviews

Ally Invest’s customer support

Contact Ally customer support in three ways:

  • Phone
  • Email
  • Live chat

How to open an account with Ally Invest

  1. Click the Sign up now button below and click Get started.
  2. Choose Open Account under ‘Self-Directed Trading.’ Then, enter your name and email address to register for a new account.
  3. Select an account type and enter personal information such as your date of birth, Social Security number, residential address and phone number.
  4. Provide employment and financial information and choose an investment objective.
  5. Agree to Ally’s terms and conditions and submit your application.

Eligibility and required information

  • At least 18 years old
  • Valid phone number and residential and email address
  • Existing bank to fund your account
  • Valid Social Security number

How safe is Ally Invest?

Ally Invest is considered safe and secure. It employs two-step authentication and other security strategies to protect your account and personal information.

As an SIPC-member, customer accounts up to $500,000, including a up to $250,000 in cash, are protected in the event that Ally Invest fails.

Compare Ally Invest to other platforms

Ally Invest Self-Directed Trading logo

Ally Invest Self-Directed Trading

★★★★★

Finder rating 4.4 / 5


Available asset types

Stocks, Bonds, Options, Mutual funds, ETFs


Stock trade fee

$0


Minimum deposit

$0


Signup bonus

N/A

SoFi Invest® logo

SoFi Invest®

★★★★★

Finder rating 4.2 / 5

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Available asset types

Stocks, Mutual funds, ETFs, Alternatives


Stock trade fee

$0


Minimum deposit

$0


Signup bonus

Get up to $1,000 in stock

Tastytrade logo

Tastytrade

★★★★★

Finder rating 4.4 / 5

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Available asset types

Stocks, Options, ETFs, Cryptocurrency, Futures, Treasury Bills


Stock trade fee

$0


Minimum deposit

$0


Signup bonus

Get $50-$5,000

Frequently asked questions about Ally Invest

How we rate trading platforms

★★★★★ 5/5 — Excellent

★★★★★ 4/5 — Good

★★★★★ 3/5 — Average

★★★★★ 2/5 — Subpar

★★★★★ 1/5 — Poor

We analyze top online trading platforms and rate them one to five stars based on factors that are most important to you. These factors include fees, securities available for trade, customer support, customer feedback, platform resources and overall reliability.

For a complete breakdown of how we score each category, read the full methodology of how we rate trading platforms.

Frequently asked questions

Your reviews

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Matt Finder

Editor, Investments

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