Ally Invest vs eTrade in Comparison 2022


If you're trying to decide between Ally Invest and eTrade, there are a few key things to compare. In this Ally Invest vs eTrade comparison, we'll take a look at these two online brokers side-by-side to see which one might be the better choice for you.

When it comes to pricing, Ally Invest and eTrade are both very affordable options. Both brokers offer commission-free stock and ETF trading, and they charge very similar fees for other types of trades.

Ally Invest charges a $4.95 commission for options trades, while eTrade charges $6.95 per trade. For mutual funds, Ally Invest has a $9.95 fee, while eTrade charges $19.99 per trade.

Ally Invest vs eTrade

Both Ally Invest and eTrade are solid choices for online brokers. However, the best broker for you will ultimately depend on your individual investing needs and preferences. Keep reading our Ally Invest vs eTrade Comparison on AtoZ Markets, the article will make your broker decision easier.

About Ally Invest

Gain Capital controls the Ally Invest Forex LLC, an American online financial service provider. The company provides self-directed and managed investments products and services as well as Forex.

Ally Invest

Ally Invest Forex is a member of the National Futures Association, which is an industry-wide self-regulatory association for the U.S. derivatives market.

Secure a bonus of up to $3,000 when you open an account.

Sign Up with Ally Invest

About eTrade

eTrade was the first company to offer online trading to retail investors. Today, the broker is a leading online financial services company. It offers a high-quality experience for digitally-inclined traders and investors, supported by a professional guide.

About eTrade

eTrade also provides an advanced custody platform for advisors and the best-rated stock plan administration platform in the industry. Morgan Stanley acquired eTrade in its entirety in October 2020.

Regulations of Ally Invest and eTrade

E*TRADE Regulation

E*TRADE Securities LLC offers Securities Products and Services. And It's registered with SIPC (Securities Investor Protection Corporation).

E*TRADE Futures LLC offers Furutes Products and E*TRADE Capital Management LLC offers investment advisory services. Both E*TRADE Futures LLC and Capital Management LLC are registered with National Futures Association (NFA)

E*TRADE offers banking products and services through Morgan Stanley Private Bank, National Association. They are members of The Federal Deposit Insurance Corporation (FDIC).

Ally Invest Regulations

Ally Invest Securities LLC offers Securities Products and Services and they are a registered member of FINRA and SIPC.

Ally Invest Advisors, Inc. offers advisory products and services and it's a SEC (US Securities and Exchange Commission) registered investment advisor. 

Foreign exchange (Forex) products and services are offered to self-directed investors through Ally Invest Forex LLC offers Forex products and services and the subsidiary is a registered member of  NFA (National Futures Association).

Ally Bank, another subsidiary of Ally Financial Inc is a Member FDIC and Equal Housing Lender.

eTrade vs Ally Invest:  Products and Services

E*TRADE offers investors a comprehensive set of products and services, from online stock and ETF trading to retirement planning tools and investment advice. Ally Invest, on the other hand, focuses mainly on providing low-cost trades with an easy-to-use platform. So if you're looking for a one-stop shop for all your investing needs, eTrade might be the better choice. However, if you're just looking for a simple platform to place trades at a low cost, Ally Invest could be a good option.

E*TRADE offers stocks, ETFs, mutual funds, bonds, and options trading, while Ally Invest only offers stocks, ETFs, mutual funds, and options trading. So if you're looking for more investment diversity, E*TRADE might be the better choice.

Both Ally Invest and eTrade offer investors a lot of value. However, there are some key differences between the two brokers that could make one more suitable than the other for your individual needs. Be sure to compare the fees, account minimums, and investment options before making a final decision.

eTrade Vs Ally Invest: Fees and Commissions 

E*TRADE charges $6.95 per trade, while Ally Invest charges $4.95 per trade. So if you're an active trader, Ally Invest could save you money in fees. Another key difference is the account minimums. E*TRADE requires a $500 minimum deposit to open an account, while Ally Invest has no minimum deposit requirement. So if you're just starting out with investing, Ally Invest might be the better option.

Inactivity fees

Both Ally Invest and eTrade do not charge any inactivity fees.

Ally Invest vs eTrade: Is  Ally Invest better eTrade?

The best broker for you will ultimately depend on your individual investing needs and preferences. If you're looking for a one-stop shop for all your investing needs, eTrade might be the better choice. However, if you're just looking for a simple platform to place trades at a low cost, Ally Invest could be a good option. Be sure to compare the fees, account minimums, and investment options before making a final decision.

Ally Invest vs eTrade: Trading Platforms

Ally Invest and eTrade both offer investors a solid selection of trading platforms. Ally Invest's platforms are designed for simplicity and ease of use, while eTrade's platforms offer more features and tools for active traders. 

Trading platforms

Ally Invest Trading Platforms 

Ally Invest's browser-based platform offers quick trading capabilities, real time streaming quotes and data , a customizable dashboard . Customers who frequently trade from various computers — home or work for example will appreciate this web based platform which doesn't require any downloads. Ally also allows its customers to use their mobile devices with the brokerage’s app dedicated specifically towards forex trading called "Ally Forex".

E*TRADE Trading Platforms 

E*TRADE innovative platform 'Power E*TRADE' features intuitive and easy-to-use tools to trade stocks, options and futures. This platform is ideal for those who are passionate about trading and market tracking.

- Charting tools to automatically populate charts using technical analysis patterns and education

- Quickly understand the probabilities for an option trade at glance

- Advanced intraday charting and historical charting using 100+ studies, 30+ drawing instruments, and many chart types

- Risk analysis tools to help you translate the options Greeks to plain English.

Ally Invest vs eTrade: Mobile App Comparison

When it comes to mobile trading apps, Ally Invest and eTrade are two of the most popular choices. But which one is better?

To help you decide, we've put together a side-by-side comparison of the two apps. Here's what we'll cover:

Ease of use

Features

Design

Customer support

Pricing

Ease of Use

Both Ally Invest and eTrade offer mobile trading apps that are easy to use. However, we give the edge to Ally Invest. The app is slightly more intuitive and user-friendly than eTrade's.

Features

Both apps offer a good selection of features. However, Ally Invest offers more research and analysis tools than eTrade. If you're the type of trader who likes to do a lot of research before making a trade, Ally Invest is the better choice.

Design

This is a close one, but we slightly prefer the design of Ally Invest's app. It's a little cleaner and more modern-looking than eTrade's.

Customer Support

If you need help with either app, customer support is available 24/7. We give the edge to Ally Invest here, as their customer service is generally more responsive and helpful than eTrade's.

Pricing

Both Ally Invest and eTrade charge $4.95 per trade. There are no account minimums or inactivity fees.

Our Verdict

Overall, we prefer Ally Invest's mobile trading app to eTrade's. It's slightly easier to use and offers more research tools. However, both apps are good choices, and it really comes down to personal preference.

Ally Invest vs eTrade: Pros and Cons 

Pros and cons

Ally Invest: Pros and Cons

Pros

√ No minimum deposit requirement

√ Low fees ($4.95 per trade)

√ Simple platform that is easy to use

√ Good selection of investment options (stocks, ETFs, mutual funds, options)

Cons

- Limited research and investment education resources

- No physical locations

eTrade: Pros and Cons

Pros

√ Comprehensive selection of products and services

√ Variety of trading platforms to suit different needs

√ Robust research and investment education resources

√ Over 30 physical locations across the US

Cons

- Higher fees ($6.95 per trade)

- $500 minimum deposit requirement

Ally Invest vs eTrade: Usability

Both Ally Invest and eTrade offer user-friendly platforms with a variety of features and tools. Ally Invest's platform is powered by TradeKing, which was rated one of the best trading platforms in 2016 by Barron's. eTrade's platform is also well-regarded and has won multiple awards over the years.

When it comes to features, Ally Invest and eTrade both offer a variety of options for research, analysis, and charting. Both platforms also offer mobile apps for trading on the go.

One area where Ally Invest edges out eTrade is in its commission-free ETFs. Ally Invest offers over 100 commission-free ETFs, while eTrade only offers about 50. For investors who are looking to keep their costs down, Ally Invest is the better option.

Overall, both Ally Invest and eTrade offer user-friendly platforms with a variety of features and tools. For investors who are looking to keep their costs down, Ally Invest is the better option.

Ally Invest vs eTrade: Account Types

E*TRADE offers a variety of account types, including individual, joint, and IRA accounts. Ally Invest only offers individual and IRA accounts. So if you're looking for a different type of account, E*TRADE might be the better option.

Ally Invest offers Individual, Joint, Custodial, Traditional IRA, Roth IRA, Rollover IRA and Coverdell accounts in Self Directed Trading, Robo Portfolios and Wealth management.

Both Ally Invest and eTrade offer investors a variety of investment options. However, there are some key differences between the two brokers that could make one more suitable than the other for your needs. Be sure to compare the fees, account minimums, investment options, and customer support options before making a final decision.

Ally Invest vs eTrade: Security 

Both Ally Invest and eTrade offer investors a variety of security features. Ally Invest offers two-factor authentication, while eTrade offers three-factor authentication. So if security is a top priority for you, eTrade might be the better option.

Ally Invest is a member the Securities Investor Protection Corporation (SIPC), which covers customers' claims up to $500,000 and a maximum $250,000 for cash claims. SIPC protects your investment funds in the event that Ally Invest fails. However, it doesn't protect against market losses.

Ally Invest offers additional coverage up to $37.5 Million, which includes up to $900,000. Cash and an aggregate cap of $150,000,000.

Similarly, E*TRADE Securities LLC, a Member SIPC, protects customer accounts upto $500,000 in securities and cash (including $250,000 cash).

Morgan Stanley also has additional insurance that is up to $1 billion in aggregate. Morgan Stanley excess of SIPC insurance policy will cover E*TRADE Securities LLC clients

FDIC insurance is available for deposits at Morgan Stanley Private Bank, National Association.

Both Ally Invest and eTrade offer investors a variety of security features. However, there are some key differences between the two brokers that could make one more suitable than the other for your needs. Be sure to compare the fees, account minimums, investment options, and customer support options before making a final decision.

eTrade vs Ally Invest: Customer Support

Both Ally Invest and eTrade offer investors a variety of customer support options. Ally Invest offers 24/7 live chat, email support, and a robust FAQ section on its website. eTrade also offers 24/7 live chat and email support, as well as a comprehensive FAQ section. So if you need help with your investing account, both Ally Invest and eTrade should be able to assist you.

Ally Invest and eTrade are both solid choices for online brokerages. However, there are some key differences that could make one more suitable than the other for your individual needs. Be sure to compare the fees, account minimums, investment options, and customer support options before making a final decision.

Additional Resources:

- Ally Invest Review

- eTrade Review

- eTrade vs Fidelity

- Ally Invest vs Robinhood 

- eTrade vs Robinhood

- eTrade vs Vanguard