Ally Invest is Coming (and I Am So Excited)

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Ally Invest

If you haven’t figured it out yet… I am in love with Ally Financial. I am in love with my bank. You can read about my Ally savings account here.

I am completely and utterly excited about Ally Invest coming this month. Ally bought TradeKing last year (2016) and is now Ally Invest.

Ally Invest offers a wide selection of resources to help investors of all experience levels make the most of their investments, including advanced charting tools and numerous calculators”.

Features:

  • Among the industry’s lowest trading fees

  • No account opening minimums and no hidden fees. You can open an account with as little at $1.

  • Only $3.95 equity trades and 50 cent option contracts for high-volume/high-balance traders.

  • A wide variety of investment products built with the do-it-yourself investors in mind.

  • In-depth research and market analysis tools to support all types of investments strategies.

  • Plus, a professionally managed portfolio option ($2,500 min. balance).

  • SPIC protection.

 

 

Where Ally Invest Really Shines

Only a very few online brokers can compete with Ally Invest’s super-low commission of only $4.95 on trades of stocks and ETFs (OptionsHouse is another low commission online broker). Active investors can qualify for a discount ($3.95 per equity trade) by making 30 or more trades per quarter or having a balance of $100,000 or more. Ally’s options trading contracts are similarly low at $4.95 plus 65 cents per contract (or $3.95 plus 50 cents per contract for active traders).

Mutual fund investors will probably be greatly disappointed that there are no transaction-fee-free funds available. However, Ally’s $9.95 commission for no-load mutual funds is far more competitive when compared with the $20-$50 charged by other discount brokers.

 

 

Take Away

Active traders will be surprised by how much they can get for so little investing with Ally Invest. Ally has rock-bottom commissions, top-notch research and trading tools and an intuitive platform that makes it a deep-discount online broker but still a worthy contender among much pricier, high-minimum brokers. Ally’s one and only shortcoming is its lack of trading-fee-free mutual funds and ETFs.

 

Click here to learn More or open an account.

 

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About The Author

Lara

Lara is a registered nurse, living near Denver, Colorado. She has a passion for personal finance and strives to find financial security and independence while integrating minimalism and green living.

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