Ally Invest Review - Cheap? Yes. But Is This Robo-Advisor for You?
What is Ally Invest?
How does Ally Invest work?
Opening a self-directed investment account
Creating your managed portfolio plan
How much does Ally Invest cost?
Ally Invest features
Web and mobile trading
Knowledgeable customer support
Plenty of options
Who is Ally Invest best for?
Who shouldn’t use Ally Invest?
Investors with limited capital
Pros & cons
- Low fees. No account minimums and $0 commissions.
- Plenty of selection. A wide variety of mutual funds, stocks, ETFs, bonds, and securities.
- Multi-device use. Mobile and desktop offered.
- Ally banking. If you already bank with Ally or have an Ally CashBack Credit Card, creating your investment account with Ally is a straightforward process to get more out of your existing Ally finances account.
Online only. No brick-and-mortar brokerage option like larger brokerages such as Fidelity. Some popular securities left off the table. While Ally offers a solid amount of securities to choose from as an investor, cryptocurrencies, and shorts aren’t offered through their brokerage. Functional, not aesthetic interface. Ally Invest’s user interface gets a lot right; however, it’s not as attractive or visually appealing as other trading platforms like Webull or Robinhood.
Ally Invest vs. E*Trade and TD Ameritrade
|Minimum investment||Options Trades fees||Mutual fund trade fee||Stocks trade fee||Virtual Trading|
|TD Ameritrade||$0||$0.65||Lots of no-transaction-fee (NTF) funds||$0||Yes|
How are accounts funded?
Do I owe taxes on my sales through Ally?
How can money be transferred out of my account?
The bottom line
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