Ally Invest Visit Site

Pros / The fees and commissions offered by Ally Invest are some of the lowest in the industry.

Cons / There is no simulated trading program available.

 Verdict / Ally Invest's low prices and trader network are attractive for traders of all skill levels, but the platform itself doesn’t offer any tools to help it stand out from the competition.

TopTenREVIEWS - Excellence Award - Awarded for excellence in design, usability and feature set

Ally Invest is a well-known name when trading stocks online. This day trading platform offers low fees and commissions and boasts a trader network, which allows you to interact with other traders to gather ideas and strategies. Ally Invest also offers several tools to analyze, monitor and trade with ease. Unfortunately, the platform could use some improvements and this company is lacking some advanced features such as simulated trading.

Ally Invest works with many standard investments, including stocks, ETFs and options. When you set up an account with this day trading software, you have all your basic account management features that let you monitor your portfolio and view your trading activity. You can also easily view your gains and losses and access all past account history.

There are several technical analysis tools on this day trading software to help both the beginner and advanced trader. These tools include price forecasting and charting. Unfortunately, Ally Invest limits your ability to customize the platform, which is a drawback for the high-volume and advanced trader.

There are a handful of calculators and tools to help you hone your abilities. A profit and loss calculator lets you easily see a trade’s potential before you place it. An options and strategy scanner helps you find options that match your specified criteria.

Ally Invest offers low fees and commissions. Its flat fee for trading stocks is $4.95, which is the lowest of any platform we reviewed. When trading options, you pay a $4.95 base fee and an additional $0.65 fee for each contract. If you make more than 30 trades a quarter, you become eligible for lower rates, with stocks and options costing $3.95 and options contract fees dropping to $0.50.  Margin rates with this company range from 9.5% for balances less than $5,000 to 4.75% for accounts greater than $500,000. Remember that these interest rates are subject to change and all margin accounts have a $2,000 minimum equity requirement.

Another highlight of this day trading software is its trader network. Within this network, you can interact directly with other traders, helping you easily gather ideas, strategies and tips.

There are a handful of educational tools and resources available from Ally Invest. Tutorials and videos are available and there is an extensive FAQs section, but it is not searchable. The company does not offer any type of simulated trading to help you test your strategies and familiarize yourself with the day trading software before putting your money on the line.

  • Online Stock Trades
  • 10 Options Trades
  • Broker-Assisted Stocks Trades
  1. The lowest cost for a stock trade.
    Less is Better.
  2. 6  Ally Invest
    $4.95
  3. $4.95
  4. $4.95
  5. $4.95
  6. Category Average
    $5.36

Summary

Ally Invest is an excellent option if you want to keep your fees and commissions low. Its platform offers several charting and analysis tools, but the platform is limited in its customization options.

Ally Invest Visit Site