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Ally Invest Review & Rating 2022

Ally Invest Review & Rating 2022

Visit Ally Invest

Ally Invest is a great stock broker for new and experienced traders with zero commissions, an excellent selection of trading features at your fingertips on the website or app (including live charts), robust customer service that's always available when you need them most - even during holidays.

Ally Invest is a relative newcomers to the financial world. They're backed by an established company in Ally Financial, which bought them out when it acquired TradeKing last year - we'll talk more about this later too! There are tons of features that make up for their lack time on market- Leadership blind beta trading allows users who don't have access or funds themselves open trades while relying solely upon accurate pricing information from specialists around Wall Street.

TradeKing was one of the most well-regarded brokers in America before it changed its name to Ally Invest. The company's roots can be traced back decades, and their service has never gone off any certifications since they first began offering trades over thirty years ago.

In this review of Ally Invest we deep dive into the broker's pros and cons, regulations, fees, trading platform etc, which you must know about before opening the live account with them. Is Ally Invest a scam or reliable broker? Know more about the broker in this review!

Overview

Company
9/10
Trust
9/10
Trading Platform
8/10
Account Types
9/10
Costs
9/10
Customer Support
9/10
Regulation
9/10
Cryptocurrency
8/10

Company

9 /10

Ally Invest provides a variety of investment options for investors, including self-directed trading and managed portfolios. The brokerage is part of the larger Ally Group which also includes finance company All Financial Inc., as well as bank Ally Bank offering services like high yield savings accounts or 529 plans that are perfect if you want to save money on future college tuition.

The history of Ally Financial, Inc., started in 1919 and became publically traded via an IPO 2014. The company acquired TradeKing which was changed to just “Ally Invest” after being rebranded with offices all over America including Sandy Utah where they have their headquarters as well at nine other locations across the country.

Trust

9 /10

The broker's customers are covered by the SIPC. In general terms this covers notes and stocks as well as bonds but not mutual funds because they provide their own insurance for those investments which is uncommon among brokers outside America's borders. The broker offers 2FA for secure login along with biometric entry on mobile apps so you can feel even more safe when accessing your account from anywhere at any time.

Investors can rest assured that their funds are being managed responsibly thanks to the NYSE listing. This transparency also provides added security for allying yourself with an established company like this one.

Trading Platform

8 /10

Ally Invest Web Trading

One of the best features of this website is that it doesn’t require any downloads. You can access all functions on both Windows and macOS computers, which makes life easier for everyone. The live web trading platform has several tools available like charts with indicator lights (to help traders find positions); newsfeeds/blogs providing market information throughout different time zones around the world simultaneously in real-time - no need to wait until morning when markets open again if you're based US customer.

Many traders take advantage of the many features available in this trading platform, including watchlists and graphs. The app enables users to draw unemployment lines with 36 different tools that are specific for technical analysis or probability calculations among others things like real-time streaming quotes from financial news sources such as Bloomberg TV which allows investors more insight into what's going on around them while they're managing their own portfolio bottlenecks.

The lack of certain order types can be a downside when trading with Ally Invest, such as multi-contingent trades. However their industry-leading platform Metatrader 4 offers more features that make it worth considering for serious investors who want access to all major markets around the world 24/7 and direct market routing which eliminates any delays in executing an order if they are executed quickly then there will not even be time left over on your account until next month.

Forex Advanced Desktop

The desktop option for client is an excellent way to access your investment information, including trades and quotes. The broker offers MT4 as well so you can trade forex with any broker that uses this technology.

The platform is tailored for Windows users, who can enjoy news commentary and research with automated trading features. Users are able to customize their interface in order not only track the market but also manage orders more efficiently than ever before. Technical indicators like 80 different ones on offer mean you never have an excuse not to know what's going down and if things get too hectic.

MetaTrader 4

MT4 is the industry’s top-rated forex platform, and it comes with a sleek UI paired rich features. With these competitive prices from Ally Invest FX members can access this user-friendly option that has both elegances as well and ease of use.

Third-party add-ons are a great way to make your life easier! When you're in the mood for some quick trades, it's nice that there is an option with everything already built into one platform. You can download any expert advisor from their website and start making money right away without having programing experience or know-how at all which makes this system so much more accessible than others out there.

Account Types

9 /10

The broker offers two main account types on their website, which are self-directed trading and managed portfolios. They also have one option for those who want to trade forex without any guidance from a financial advisor by using the company's LLC name "Ally Forex." Finally, the broker doesn't permit international investments at this time but they'll be adding more countries soon.

The broker offers a variety of investment options for those who want hands on involvement. The self directed account is perfect if you're looking to invest your money in something that requires more personalization, such as an IRA or brokerage account with limited partnerships. The different types joint accounts offer includes both traditional IRAs and Coverdell ESG tax-free savings plans which allow investors the flexibility not only grow their investments.

Forex trading is not for everyone. However, if you're looking to take your investment skills up a notch and want more control over when/where they’re traded in addition with what currency goes into which basket then forextrading might be perfect! With its low minimum deposit ($250), Ally Invest Forex offers opportunities that other brokers simply can't match - including being able spot trade gold & silver on certain markets too.

Managed portfolios are perfect for those who want to invest their money without having any involvement in the process. The average expense ratio is 0.07%, which means it will likely suit most investors well enough.

Ally Invest will help you build a portfolio that is just right for your needs, whether it be in the form of individual or joint taxable accounts. They require $100 as an initial deposit and offer traditional IRAs along with Roth conversions for those who want tax benefits at retirement time.

Costs

9 /10

The broker announced that they will be eliminating commissions on assets beginning October 2020 to compete with other brokers who have been offering fee free trade after an escalation in pricing war over the past year.

However, there is a small fee to trade with Ally Invest.

Options traders will need to pay 50 cents per contract when trading with Robinhood. This is among the lowest rates in option trading, but if you want free trades then be aware that they don't charge a fee for this service either.

Ally Invest is a great option for people who want to invest their money without paying too much in fees. While they do offer 8,000+ mutual funds with low commissions - $9.95 per trade-you should know there are other brokers out there that don't charge any commission at all! E*TRADE has over 2 thousand stock and ETF's available which means it would save significantly on annual expenses if you signed up here instead of ally racing (even though both sites give excellent service).

Customer Support

9 /10

Ally offers 24/7 phone support and an online chat function to quickly route you any questions. They also have more conventional means, such as email but customers don't have the option of going out into a physical branch for assistance which is probably why this shouldn’t be considered something that would be drafting most investors away from using them. The broker has open hours so it's easy enough if your problem comes up while they're working.

Regulation

9 /10

Ally Invest is a registered broker with the Securities and Exchange Commission (SEC) under company number #0001330763. It's also part of FINRA, which protects you from any fraud or abuse during your trading experience on our site. It has been said that they offers customers access to top-notch financial services at competitive rates.

The Federal Deposit Insurance Corporation (FDIC) is a government agency that insures member banks against loss by making sure they have enough money to cover any liabilities if something happens. However, since the products offered on Ally Invest are not insured or guaranteed in anyway. Thus, it's important for your funds be kept separately from other savings accounts where you might invest elsewhere like stocks and bonds instead.

Conclusion

Ally Invest is a great choice for your next broker. When you need to make a trade quickly, the integration with Ally Invest makes it easy. Commissions are low and the variety of products offered makes it easy to find an option that fits your needs. Plus, you can trade options for just $0.50/contract.

Ally Invest has a number of advantages when it comes to investing your money. The company offers no-transaction fee mutual funds and fractional shares, which are both great features for investors that want low cost investments with accession anytime they need them without paying an arm and leg in commissions or fees along the way.

If you want to be hands-off about your investments but still have some level of control and don't mind taking on more risk than with balanced funds or indexing, then Ally Invest Robo Portfolios are an excellent option.

Reviewed By

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