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Ally Invest Self-Directed Trading offers competitive pricing on stocks, ETFs, options contracts, and robust research tools to help you make better-informed investment decisions. There is no minimum deposit requirement and investors looking to transfer in from another broker could receive up to $75 to cover the cost.
Summary: Ally Invest is best for investors looking for a low-cost self-directed platform and several product offerings to build a diversified portfolio.
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|HQ||Charlotte, North Carolina, United States|
|Accounts||Individual, joint, and custodial taxable accounts, traditional IRA, Roth IRA, Rollover IRAs, and Coverdell accounts|
|Instruments||Stocks, ETFs, Options, Bonds, Mutual Funds, Low-Priced Securities (less than $2)|
|Regulation||Member of FINRA and SEC-registered|
|Fees||– $0 commission for most assets|
– $9.95 per mutual fund trade
– $0 + 0.50c per options contract
– $1 per bond
– $4.95 per low-priced security
|Leverage||Margin lending is available. Ratio is not disclosed|
|Trading Platforms||Web and Mobile App|
|State Restrictions||Available in all States|
Ally Invest Self-Direct Trading is ideal for investors looking for no account minimums and competitive fees. In addition, investors may find it helpful to use some of the research tools to make better-informed decisions.
Ally Invest Self-Directed Trading supports a range of accounts including:
You can open an account online in a few minutes. Once you fill out the application and choose the account type, you’ll receive an approval email inviting you to start investing.
To be eligible to open an account, you’ll need to have a social security number and a US residential address. In addition, you must be a US citizen and over the age of 18 years old.
There are no commissions for US stocks or ETFs. However, you can expect to pay the following fees for other product offerings:
Other account fees for Ally Invest Self-Directed Trading include:
|Foreign Stock Incoming Transfer Fee||$50 per position|
|Paper Statements > 2 Years||$4 per statement|
|1099 Request for Exempt Accounts||$50|
|Pre-Pay Settlement Fee||$20|
You can view a full list of Ally invest Self-Directed Trading on their website.
To request a transfer from another broker, you can fill out an online application. It typically takes 5 – 7 business days to complete a request. Brokerage fees are eligible to be reimbursed for up to $75 when you transfer $2,500 or more.
Other methods to deposit funds include:
For withdrawals, there is a $30 fee for wire transfers and a $5 fee for checks.
Ally Invest offers web and mobile app platforms. With the mobile app, you can track your portfolio and stay up to date with the market from anywhere.
Plus, the browser-based platform offers several features including charts, watchlists, profit/loss, and research tools to stay on top of market data and events.
With Ally Invest Self-Directed Trading, you can invest in a broad range of products. These include:
When you invest with a self-directed trading account, you have complete control over your portfolio and decisions. Certain products such as options are subject to greater volatility than others.
Cryptocurrencies are not available.
Ally Invest provides several research tools to help you make better-informed decisions about your investments. Experienced investors can benefit from option chains, profit and loss calculators, or probability calculators. Beginner investors may find the performance charts and watchlists a great way to follow market data and stay on top of their portfolios.
Ally Invest provides a range of articles on the following topics:
In addition, you’ll find further information on getting started with stocks, ETFs, options, bonds, mutual funds, and low-priced securities on their website. Some examples of articles include:
For more tips, you can visit the Ally Invest blog.
You can get in touch with Ally Invest via chat, phone, or email.
Unfortunately, according to Trustpilot, Ally Invest have a less than positive rating on Trustpilot where many users complain about the lack of quality customer service.
As a member of the SIPC, investments are insured for up to $500,000 and up to $250,000 cash. In addition, for your peace of mind, Ally Invest implements security measures to protect your information. Some of these include:
Plus, the online and mobile security guarantee ensures that customers are not liable for unauthorized transactions as long as they are reposted within 60 days. To report an unauthorized transaction, you can call 1-877-247-2559.
If you suspect fraud, you can call the Ally Invest fraud helpline at 1-833-226-1520.
Ally Invest Self-Direct Trading is best for investors looking for a range of product offerings at a low and affordable cost. There is no minimum balance to open an account and you could be eligible to receive $75 to cover brokerage fees when you transfer $2,500 or more.
While some crypto-specific funds and stocks provide your portfolio with indirect exposure to crypto, Ally invest does not directly support crypto assets. Investors looking to invest directly in cryptocurrencies should consider alternative options.