BrokAIr Reviews

Ally Invest Review

"Ally Invest could be the best online brokerage for some, but it's not the only option out there." Could Ally Invest be too good to be true?

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Ally Invest is an online broker established in 2005 and headquartered in Charlotte, North Carolina. It is a subsidiary of Ally Financial Inc., a publicly traded financial services company. Ally Invest provides online trading services for stocks, options, exchange-traded funds (ETFs), mutual funds, and fixed income investments.

Ally Invest offers a wide range of features, including low commissions, free trades for certain accounts, free real-time data, and a comprehensive selection of investment products. It also offers robust research tools and a wide array of educational resources to help traders become better investors.

The major pros of Ally Invest are its low commissions, no account minimums, and an easy-to-use trading platform. The major cons are its lack of international stocks and its limited customer service hours.

Ally Invest has received generally positive reviews from customers over the years. According to the J.D. Power 2020 U.S. Self-Directed Investor Satisfaction Study, Ally Invest was ranked number one in customer satisfaction among self-directed investors.

In terms of newsworthy events around Ally Invest, in 2019 Ally Financial Inc. announced that it would acquire TradeKing Group Inc., another online broker, and merge the two companies together under the Ally Invest brand. In 2020, Ally Invest launched its mobile trading app for iOS and Android devices.

Overall, Ally Invest is a good option for beginner and intermediate investors who are looking for a low-cost brokerage with advanced features and tools.