Previously known as TradeKing, Ally Invest is a US-based online retail broker that offers self-directed and managed investments in a range of assets, including stocks, options, bonds, mutual funds, ETFs, and over 50 currency pairs — with competitive trading fees. The broker serves more than 250,000 clients and has billions in managed assets. They provide their clients with a wide range of helpful trading resources, such as flexible trading platforms, advanced charting and trading tools, multiple investment calculators, and a collection of educational resources.
Ally Invest Review Introduction
In this Ally Invest review, we will take a look at some of the most important factors worth considering when choosing a broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including Ally Invest.
Ally Invest Platforms & Tools
The broker provides its clients with flexible trading platforms, including their own award-winning Ally Invest Trading Platform, which is a web-based HTML5 application. The platform has a user-friendly interface that lets investors conveniently manage their trades and portfolios across multiple devices. In addition to the web-based terminal, the platform also has mobile apps for Android and iOS devices.
There is also the Ally Invest Forex Platform for forex trading accounts. The platform is easily customizable and has a range of interesting tools, including charting and trade management tools. It is available in desktop applications for Windows and Mac systems, as well as in mobile applications for Android and iOS devices.
Additionally, the broker provides the MetaTrader platform, which is the industry standard when it comes to forex and CFD trading, for forex trading accounts. It is the most widely used platform and has desktop, web, and mobile terminals (iOS and Android devices).
Ally Invest Research & Education
Ally Invest has a number of educational resources that can help both new and experienced investors enhance their market knowledge and improve their trading. The resources are in the form of articles covering different trading topics, as well as in-depth market research and analysis that provide insights into potential investment opportunities.
Ally Invest Trading Accounts
The broker offers 3 main account types:
- Self-directed Trading Account: This is a margin brokerage account for stock, bond, and ETF investors who prefer to manage their portfolio by themselves. It requires a minimum deposit of $2,000, and there is $0 commission for all U.S. listed stocks and ETFs — other fees may apply though.
- Managed Portfolio: This is an automated robo-advisor investment package in which an investor can invest in a portfolio managed by investment specialists. The minimum deposit for this type of account is $100.
- Forex Trading Account: This account, which is for trading currency pairs, is offered to self-directed investors through Ally Forex, an affiliate of Ally Invest. The minimum deposit for a forex account is $250.
Ally Invest Account Funding
Account funding and withdrawal methods available with this broker include bank wire, debit card, ACH, and check. Bank transfers and check may take a few business days to process, while card payments may be instant.
Ally Invest Customer Service
Ally Invest provides 24/5 customer support services through online chat, phone calls, and email. The support service team is available from Sunday 10 am (ET) to Friday 5 pm (ET).
Ally Invest Regulation
As a US-based retail investment broker, Ally Invest is authorized and regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). The parent company, Ally Financial Inc, was founded over a century ago and is listed on the New York Stock Exchange. Ally Invest is a member of the Securities Investor Protection Corporation.
Ally Invest Review Summary
Ally Invest is a subsidiary of the NYSE-listed Ally Financial and is regulated by the SEC and FINRA. The broker offers user-friendly trading platforms, some educational tools, along with competitive trading fees.
It is worth mentioning that some of the trading products and services in this Ally Invest review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the Ally Invest broker website which you can visit by using the link below.
Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.
Ally Invest
Features
- Regulated broker
- Flexible trading platforms
- Competitive fees
- No minimum deposit (unless margin trading)
- Segregated clients’ funds