Ally Invest
Overview
Ally Invest is the brokerage arm of Ally Financial, the digital-only bank that helped pioneer the online banking revolution. It is an excellent choice for current Ally Bank customers who want to keep their savings and investments under one roof. While it isn't as flashy as Robinhood or as powerful as thinkorswim, it offers a solid, low-cost experience with a major perk for options traders: commission costs that are consistently lower than the industry standard.
Key Specifications
| Account Minimum | $0 (Self-Directed) / $100 (Robo Portfolios) |
|---|---|
| Stock & ETF Trade Fee | $0 (Online US listed) |
| Options Fee | $0.50 per contract (Industry standard is usually $0.65) |
| Fractional Shares | No (Only via Dividend Reinvestment DRIP) |
| Mutual Fund Fees | $0 for 17,000+ No-Transaction-Fee funds |
| Robo-Advisor | Cash-Enhanced (Free) or Market-Focused (0.30% fee) |
Trading Platforms
1. Ally Mobile App
The biggest selling point of the app is integration. You can see your high-yield savings balance right next to your stock portfolio. Transfers between Ally Bank and Ally Invest are instant, allowing you to move money and buy a stock in seconds. The trading interface itself is simple and clean, designed for investors rather than day traders.
2. Ally Invest LIVE (Web)
The web platform is surprisingly robust, offering a customizable dashboard with drag-and-drop modules. It includes streaming real-time quotes, probability calculators for options, and solid charting tools. While not on par with professional desktop software, it is more than enough for the average active investor.
Investment Features
- No Fractional Shares: A significant drawback in the modern era is the lack of fractional share purchasing. You must buy whole shares of stocks (e.g., you cannot buy $50 of a $3,000 stock).
- Robo Portfolios: Ally offers a "Cash-Enhanced" robo-advisor portfolio with $0 advisory fees. It keeps 30% of your portfolio in cash (earning ~3.30% interest as of Jan 2026) and invests the rest. If you prefer to be fully invested, a market-focused version is available for a 0.30% fee.
- Forex: Unlike many standard brokers, Ally offers a dedicated Forex trading platform for currency investors.
- Banking Synergy: The platform excels for those who use Ally for banking, offering features like "Surprise Savings" which analyzes your spending and automatically moves safe-to-save money into your savings account.
Account Types
Ally supports the standard personal investment accounts:
- Individual & Joint Taxable
- Traditional, Roth, & Rollover IRAs
- Custodial Accounts (UTMA/UGMA)
- Coverdell ESA
- Robo-Advisor Portfolios
*Note: Trust accounts are supported but require paper forms to open.