Reviews

Ally Invest review: Low transaction fees and no minimum account requirements.

Trying to decide whether Ally Invest is for you? We are going to help you with that. Read our Ally Invest review to see if this account is what you've been looking for.

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Ally Invest: learn more about it and start investing today 

Ally logo
Ally Invest review. Source: The Mad Capitalist.

In this Ally Invest review we are going to show you some of this broker’s most important features and help you find out if it is for you. For starters, this is an excellent option for existing customers of Ally Bank.

This broker is known for its low trading commissions for stocks, bonds and ETFs. Options commissions are a little higher, but still among the lowest in the industry. Mutual funds, however, have no free transaction offer. If you are a mutual fund investor, you will be better off using Fidelity or Vanguard, which offer over 3,000 funds with no transaction fees.

With the Ally Mobile app it is possible to see all your accounts in one place, whether it’s savings, checking, CDs, credit card or brokerage account. That’s why this broker is especially good for Ally Bank customers.

Have a look at some key numbers about Ally below in this Ally Invest review.

Trading fees$0 for eligible U.S. stocks$0,50 per options contract$9.95 per trade with mutual funds
Account minimum$0
PromotionCash bonuses for deposits starting at $10,000
Investment choicesStocks, ETFs, options and mutual funds
Ally mobile

How to start investing with Ally Invest?

Learn the application process and start investing at Ally today!

Ally Invest: how does it work?

Ally Invest charges $0 for trades with stocks, options and ETFs. The exception is for stocks priced under $2, which will cost you a commission fee of $4.95 plus $0.01 per share. For bonds trading commission is $1, and no-load mutual funds can be bought or sold for a fee of $9.95.

If you make a $10,000 deposit, you become eligible for cash bonuses. These cash bonuses range from $100 to $3,000. However, to put things into perspective, in order to get the $3,000 bonus you must deposit $2 million or more.

Ally Invest isn’t the most competitive when it comes to margin rages, unless you use large amounts of margin. On the other hand, they don’t require minimum balances to keep your account active.

Now read on to learn the perks and drawbacks to the account in our Ally Invest review.

Learn all the benefits and disadvantages of Ally Invest 

pros and cons
What are the pros and cons of Ally Invest? Source: Adobe Stock

Now that you have been introduced with this Ally Invest review, let’s put its pros and cons together for comparison.

Pros

  • No account minimums
  • Excellent web-based platform
  • Trade commission-free on eligible U.S. stocks, ETFs and options

Cons

  • Mutual funds aren’t no-transaction-fee
  • Online only
  • No fractional shares

Multiple personalized credit card offers

Applying won't hurt your credit score

You will be redirected to another website

Is it worth it to join Ally Invest? 

If you already have an Ally Bank account, investing with Ally Invest is only a few steps away. That doesn’t mean if you are not an Ally Bank customer you shouldn’t invest with them. The broker has options for investors of all experience levels. It is especially appealing to more active traders due to its competitive rates, strong platform, educational and customer support.

How to open an account at Ally Invest?

Now that you’ve read out Ally Invest review, how about opening an account? Doing so is a simple and straightforward process that you can complete on their website in just a few minutes. If you’d like a complete walkthrough of the application process, check out the link below.

Ally mobile

How to start investing with Ally Invest?

Learn the application process and start investing at Ally today!

About the author  /  Danilo Pereira

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