If you’re still looking for an alternative, Ally might be an option to add to the list thanks to new Buckets and Boosters features. And for investors wanting to get started with small amounts ally invest review (or dollar-cost average into investing), Robinhood, Schwab and Fidelity all offer fractional shares. There are a few instances in which you might pay a fee on a transaction using Ally.

• Customer service representatives were asked for assistance or details in several areas of broker services, including account opening, trading tools, apps, rollovers, active trading, and more.
• You can also compare its offerings side-by-side with those of other brokers using our Comparison Tool.
• Only the ETF screener is available on the Live platform, and none of the screeners are on the mobile app.
• And although Ally says its advisory fee is based on the amount of assets you hold, you still might pay up to 0.85%.
• Trading technology at Ally Invest is perfectly functional, but the website is somewhat dated and would benefit from the addition of features such as conditional orders and trailing stops.

Ally Invest is a great choice for those interested in online banking with Ally and existing Ally Bank customers because they can easily see their full financial picture on one platform. Ally Invest has options for investors of all experience levels, including self-directed and managed accounts. We’ve also reviewed the Ally Managed Portfolios robo-advisor service and will take a deeper look at Ally Invest to help you decide whether it is the right fit for your investing needs.

After a lot of research, we’ve found that no bank or budgeting service does everything Simple did. But if your primary goal is saving, then Ally’s new tools at least get the bank a little closer. Ally has a solid selection of bond products, including corporate, municipal, agency, Treasurys and bond ETFs. Access to holdings, trading, order status, research, an ETF screener, watchlist, transfers and activity. Ally Bank is a member of the Federal Deposit Insurance Corporation (FDIC), so its deposit accounts are insured. Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors quality data they can trust.

Ally Invest fees and features data

If you aren’t specifically saving for retirement or college, then the IRA will suit the needs of more investors. Ally Invest has also launched Ally Invest Wealth Management, which is an advisory account for people with over $100,000 and has an advisory fee capped at 0.85% of assets under management. You can’t draw trend lines, there is no cursor to show the specific open/high/low/close prices, and once a chart is on the screen you can’t resize it any way except by changing the time frame.

The app is highly rated with a 4.8 rating on the Apple App Store and a 4.2 rating on Google Play. Because of its investment focus, the Fidelity app may be particularly suitable for those most interested in trading and investing, as well as retirement planning and wealth management. Ally Invest is the online brokerage arm of Ally Financial (publicly traded, „ALLY“), which also operates Ally Bank.

Ally invest vs. J.P. Morgan Online Investing

Brokers also were offered the opportunity to provide executive time for an annual update meeting. Ally Invest is a member of both FINRA and the Securities Investor Protection Corporation, or SIPC, which carries protection for customer accounts in the event of a broker’s bankruptcy. It’s important to understand that, as with any broker, SIPC insurance does not protect against market losses — investing is a risky endeavor. If you want to trade currency, Ally also provides a dedicated app for that called Ally Forex.

What is Ally Bank’s savings rate?

Ally Invest’s mobile app is a part of the larger Ally Bank app, and lets users access holdings, the trading platform, research, screeners, a stocks watchlist and more. Ally Invest has commission-free trades for eligible U.S. stocks, options and exchange-traded funds. This is typical of brokers these days — charging a commission for stock and ETF trades is relatively rare. You’ll have access to more savings tools if you link an Ally savings account with one of its checking accounts. The optional Round Ups feature rounds transactions such as debit card purchases to the nearest dollar.

For just a $100 minimum investment, Robo Portfolios will invest based on your goals and automatically rebalance your portfolio daily. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional. The managed portfolio offering has a well-designed asset allocation display, but that feature does not extend to the self-directed investing account.

How do we review robo-advisors?

Our estimates are based on past market performance, and past performance is not a guarantee of future performance. Although the interest rate on Ally Bank’s savings account is impressive, it’s not unusual. Many online-only financial institutions have rates that are similar or even slightly higher. The fact that Ally doesn’t have a minimum deposit requirement also puts it on par with many other banks and credit unions.

Fidelity and Ally Invest offer a broad range and services and features to cater to the investment needs of most individual investors. Both offer brokerage accounts, IRAs, CDs, robo-advisors, cash management accounts and money market accounts. Fidelity has some accounts Ally Invest doesn’t offer, such as 529 plans, health savings accounts (HSAs) and 401(k)s. Ally Invest also has some accounts and services not available with Fidelity, such as high-yield savings accounts, checking accounts and home mortgages.

For those trading foreign exchange, there is yet another platform to use for forex. It is, however, pretty standard for brokerage companies offering currency trading to use a dedicated platform specific to that market. Ally Invest is an online brokerage that offers self-directed trading, automated investing, and wealth management.

However, specific securities are not able to be excluded from your portfolio. There’s also a fee for their SRI portfolios if they aren’t held in a cash-enhanced portfolios. But there’s a few limits that makes Ally’s solution not as good as Simple’s. Some Simpler users had dozens of „buckets.“ And unlike Simple, you can only use Buckets with Ally’s savings accounts. That limits the usefulness of Buckets to saving up to achieve a goal, as opposed to budgeting out your monthly expenses. Ally Invest now offers about 5,500 no-transaction-fee mutual funds to choose from.