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Charles Schwab vs Ally Invest: Which Is Better?

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Charles Schwab vs Ally Invest: Which Is Better?

Charles Schwab offers investors a complete suite of products and services with excellent stock research, quality trade tools, and professional planning.

They have everything from stocks and options trading to fixed income and retirement guidance.

While Ally Invest is an online brokerage firm of Ally Bank.

They offer a fee-free investing for managed portfolios and for self-directed trading. Plus investing platform supports supports stocks, ETFs, mutual funds, bonds, and option.

Continue reading to see our table for a side-by-side comparison between Charles Schwab and Ally Invest.

Best Brokerage Promotions
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PROMOTIONAL LINKOFFERREVIEW
Ally Invest Up to $3,500 Cash & free tradesReview
E*TRADE $0 Commissions for online
stock, ETF, & options trades		Review
WeBull Free Stock & free tradesReview
Charles Schwab vs Robinhood: Which Is Better? Charles Schwab vs Ally Invest: Which Is Better?
Charles Schwab Ally Invest
Stock Trading 4.5/5 5/5
Option Trading 3.5/5 5/5
Mutual Fund Trading 4/5
Online Platform 5/5
Banking 5/5 5/5
Mobile App 3.5/5 3.5/5
Commissions and Fees 3/5 5/5
Ease of Use 4/5 4/5
Research 5/5 3.5/5
Online Community 5/5
Trading Platform 4/5
Pros -Selection of commission-free
ETFs and mutual funds
-2 platforms: beginners and advanced traders
-24/7 customer service including online chat		 -Low commission for stock trades
-No account minimums
-Ally platform
Cons -Commission cost on mutual funds
outside of the commission-free funds
-Robo-advisor option requires
a minimum investment of $5,000		 -No physical locations
Bottom Line Charles Schwab is great for beginning and advanced investors. It offers low fees and 24/7 customer support that brokers might find helpful. Ally Invest offers a complete investment platform with strong services and zero fees.

Compare to Other Institutions

Charles Schwab:

Ally Invest:

Bottom Line

Which Bank is Better: Charles Schwab or Ally Invest?

In summary:

  • Charles Schwab offers investors a wide array of services and tools including a top-notch mobile app.
  • Ally is good for active traders and budget investors because of their complete investment platform with strong services and zero fees.

For more variety of options, see our list of the best bank account bonuses & savings account offers.

More on Charles Schwab:

More on Ally:

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Filed under: Bank Guides

Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

About Rijea Donayre

Rijea Donayre is the go-to for the latest promotions. She helps readers find the best way to save money - her goal is to provide readers with information about the best promotions and deals to help them save as much as possible. When she isn't working, you'll find Rijea spending most of her time at boba shops, hanging out with her friends and family, or playing with her dogs.

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