TD Ameritrade 300

Ally Invest Automatic Investing Plan

2022: Does Ally Invest offer automatic investment plan (AIP) contributions? Ally Invest dollar cost averaging program setup and review. Ally DCA/AIP fees on ETFs, stocks, and mutual funds monthly/weekly auto investing.

Does Ally Invest Offer an Automatic Investing Plan?

Many brokers today provide an automatic investment plan of some type at least for mutual funds. Purchase orders are entered by an automated system using a fixed-dollar amount on a periodic basis. This form of dollar-cost averaging uses a fixed amount rather than a fixed number of shares. Doing so causes more shares to be purchased when the price of the security is low.

Unlike TD Ameritrade, Firstrade, and several other brokers, Ally Invest does not offer an automatic investing plan. To see which companies offer the best automatic investment plans, read Brokers with automated investing article.

However, Ally Invest does have a Dividend Reinvestment Plan, otherwise known as a DRIP. To be eligible for the firm's DRIP service, a stock or ETF must have a minimum volume of 50,000 trades per day. A security must also be DTC eligible. This means that the shares must be qualified to be deposited into the DTC, which is the Depository Trust Company. This organization helps brokerage houses to process transactions and improve liquidity. Majority of dividend paying stocks and ETFs will satisfy these requirements.

Ally Invest Review

Ally Invest rating

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Open Ally Invest Account

Open Ally Invest Account

Ally Invest Pricing

Ally Invest offers very low commissions to all its customers: $0 per trade on stocks and ETFs, and $9.95 per mutual fund transaction. The firm has few fees (and no hidden fees) and no-annual-fee IRA accounts. Minimum to open a cash account is hard-to-beat $0 and only $2,000 is required for a margin account.

Ally Invest also offers good margin schedule. The broker charges 3.25% for balances of $500,000 and above. Its highest rate is 7.75% for balances of up to $4,999. The firm has an incremental margin schedule with decreasing rates as balances increase from $4,999 to $500,000.

Renewable Energy Opportunities at Ally Invest

The Ally Invest website has s stock screener that can search for ‘Electric Utilities’ stocks. Unfortunately, the search tool cannot be more specific than that. Furthermore, the screener in its default mode cannot search by industry. To add electric utilities to your search criteria, you’ll need to click on ‘Add Additional Criteria’ at the top of the screener, choose ‘Industry’ and then select ‘Electric Utilities.’

The screener will return 368 equities. Some of these will be companies engaged in renewable energy, although Ally does provide any indication of this. One of the stocks in the list is Centrais Eletricas Brasileiras SA, Brazil’s largest power generation company. It is also the largest publicly-traded utility in Latin America. It trades in the United States as an American Depository Receipt under the ticker symbol EBR.

Ally Invest Global Stocks

Ally Invest’s profile page for EBR shows a recent volume of 237,000 shares. The last trade price was just $5.61, which is in the middle of its 52-week range. Ally provides CFRA reports in pdf format, but one is not available for EBR.

Ally shows a P/E ratio of just 1.71 for the stock, a very low figure. The company had $17.8 billion in revenue at last count, which produced more than $2.6 billion of pre-tax income. The stock price produces a current market cap of $6 billion.

Trading EBR at Ally Invest costs $0.

Robo Portfolios

The broker offers Robo Portfolios for inexperienced investors or buy-and-hold customers who want or need more professional advice and guidance. The management fees for their two Robo Portfolios, Core (0.25%) and Momentum (0.5%), are competitive comparing with other brokers who offer Robo Portfolios.

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Ally Brokerage Account

Getting an account set-up with Ally Invest is fairly straight forward and easy with fast turn around time - usually 3 days from initial deposit - so accounts are available for trading quickly. They unfortunately don’t give the option to browse through their platform prior to starting an account, but all of that will be covered shortly to take the guesswork out of it.

The dashboard is easy and user friendly and well organized, making it easy to quickly analyze the performance of open positions and large exchanges. Their Ally Invest LIVE platform provides an even more detailed home page with customizable widgets ranging from recent industry news, live stock tracking and upcoming events. Ally even provides the option to set up stock alerts that can be received via text, email, or sound notifications.

Ally Invest Assets Under Management

In terms of menu usability, the Ally Invest LIVE platform gets the edge making it easier for users to find what they are looking for. Placing a trade is also much easier on the LIVE platform with a simple streamlined ticket system for quick executions.