Ally Invest is an online broker offering trading accounts, forex trading, automated portfolios and more. Ally invest was founded December 2005 by Donato A. Montanaro, Richard J. Hagen Jr., and Thomas A. Desmond. The company is headquartered in Fort Lauderdale, Florida, USA. Ally Financial is a bank holding company, formerly known as GMAC Inc. (1919 – 2010).
Ally Invest is traded as NYSE: ALLY and is part of the Russell 1000 Component.
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This is a list of their subsidiaries:
- Ally Invest Advisors Inc.
- Ally Invest Forex LLC
- MB Trading Futures LLC
- TKConnect LLC
Regulation
Ally Invest is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Here is a list of regulatory bodies that regulate Ally Invest:
- SEC
- FINRA
Fees
Ally Invest charges fees. This is a list of Ally Invest Fees.
| Fee | Amount |
|---|---|
| Minimum Deposit | $0 |
| Stock Trading | $0.00 (eligible U.S. stocks) |
| ETFs | $0.00 (eligible ETFs) |
| Options per Contract | |
| Options Base Fee | $0.00 |
| Options Assignment | $4.95 |
| Mutual Funds Fee (Load) | $0.00 |
| Mutual Funds Fee (No Load) | $9.95 |
| Futures per Contract | N/A |
| Bonds & Treasuries | $1.00 per bond ($10.00 minimum, $250 maximum) |
| Certificates of Deposit (CDs) | $24.95 per transaction |
| Broker-Assisted Trades | $20 + regular commission |
Markets Available
Ally Invest offers trading in different markets. This is a table of available securities.
| Market | Yes / No |
|---|---|
| Stocks | Yes |
| ETFs | Yes |
| Bonds | Yes |
| Forex | Yes |
| Commodities | Yes |
| Options | Yes |
| Fractional Shares | No |
| CDs | Yes |
| Mutual Funds | Yes |
| Cryptocurrencies | No |
| Futures Trading | No |
Customer Service
| Phone Support | Yes |
| Email Support | Yes |
| Live Chat | Yes |
| 24/7 Support | No |
Trading Platforms
| Desktop (Windows) | Yes |
| Desktop (macOS) | Yes |
| Web-Based Platform | Yes |
| Mobile App (Android) | Yes |
| Mobile App (iOS) | Yes |
| Apple Watch App | No |
Is Ally Invest Safe?
Ally Invest is a safe broker, regulated by the SEC and FINRA. It is listed on the stock exchange and has been in business since 2005. Ally is a member of SIPC, mandated by Congress, and responsible for guaranteeing the number of securities in investment accounts. All client brokerage accounts are insured up to $500,000.
Is Ally Invest Good for Beginners?
Ally Invest is good for beginners, as it has no account minimum, free stock trades and is easy for beginners to get started. Ally has competitive pricing and active investors benefit from the commission-free trades on selected U.S. securities.
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