Ally Invest Review (2021 update): Pros, Cons, and More


Top perks

Commission-free trades

Ally Invest is in line with much of the industry in offering $0 trades for stocks, options, and ETFs. However, stocks priced less than $2 per share are charged a commission of as much as $4.95 plus $0.01 per share.

Up to $3,000 bonus

Ally offers cash bonuses that range from $100 – $3,000 depending on amount deposited, and with a competitively low minimum qualifying deposit starting at $10,000.

Competitive mutual fund transaction fees

Though it doesn’t have any truly free funds to choose from, Ally Invest still ranks well for fund investors because of its low $9.95 commission to buy a mutual fund through its service.

Reasonable margin rates

Ally Invest is in the middle of the pack for margin rates, offering rates lower than the larger players, but it charges more than the low-cost leader, Interactive Brokers. It is most competitive for investors who use large amounts of margin as it is significantly less expensive than peers for those who have a margin balance of $500,000 or more.

No minimums

Ally Invest is a true no-minimum discount broker, as you can open an account with as little as $1 to start. We think that makes it a good online stock broker for beginners who plan to add to their account balance over time.

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View more information: https://www.fool.com/the-ascent/buying-stocks/ally-invest-review/

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