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Ally Invest IRA Review: Fees, Pricing, and Minimums

2018 Ally Invest IRA review: Roth IRA, SEP, Simple IRA, traditional, rollover IRA. Ally Invest account minimum, rating, cost, fees, and offers.

Ally Invest IRA Review

Founded in 2005 as TradeKing, Ally Invest is no longer a newcomer in the online brokerage business. They immediately staked their claim as one of the lowest-cost discount brokers. TradeKing also pioneered connecting investors to social networking with a vibrant blog and discussion forums, and they've made investor education a priority since releasing their Options Playbook, a primer for options trading strategies, in 2007. After acquiring discount broker Zecco in 2012, TradeKing became the sixth largest brokerage firm in the U.S. and now manages more than 500,000 accounts. TradeKing was acquired by Ally Financial and renamed to Ally Invest.

Ally Invest offers trading in stocks, bonds, ETFs, mutual funds, options, and foreign currencies. There is also Ally Managed Portfolios, a branch of the company that offers a limited number of managed portfolios for clients who want to leave investing to the pros.

Ally Invest Basics

  • $4.95 commissions on stock and ETF trades ($3.95 per trade if making 30+ trades per quarter or for $100,000 balances)
  • $4.95 + $0.65/contract option trades ($0.50 per contract if making 30+ trades per quarter or for $100,000 balances)
  • $9.95 mutual fund trades for no-load funds
  • $1 for corporate bonds, with a $10 minimum; no commissions on Treasury securities
  • No-annual-fee IRAs
  • A robust Ally LIVE trading platform for more experienced traders
  • AutoTrade service for implementing newsletter-recommended trades automatically
  • A full array of research and educational tools and resources

Ally Invest Website/Trading Platform/Tools

The website is clean and easy to navigate. Opening an account is straightforward, starting with setting up a username and password, then proceeding to pertinent account registration and financial data. No minimum deposit is required to open an account with Ally Invest Securities. However, Ally Managed Portfolios requires a $500 minimum investment for Core Portfolios and a $5,000 minimum investment for Momentum Portfolios. All customers must be living in the USA to maintain a Ally Invest account. Foreign citizens from approved countries who live in the USA may also open an account.

Ally Invest IRA Review

Trading is easy, with many tools such as screeners and options pricing calculators to help investors on a simple and intuitive trading platform called Ally Invest LIVE. It is fully customizable and features streaming charts, news, flexible trading tickets, options chains, and real-time updates on all positions. Popular tools include a Probability Calculator, Profit and Loss Calculator, and the Maxit Tax Manager, a cost basis and tax-reporting tool that helps traders identify "tax-smart" investment opportunities. For technical traders, Ally Invest offers a full suite of free technical analysis tools powered by Recognia.

Ally ROTH IRA Review

New acquisition of MB Trading, a small brokerage known for its professional-grade trading platform that will enable Ally Invest customers to trade futures contracts in addition to the usual equities, fixed income, and mutual fund vehicles.

Ally Invest also allows mobile trading with its award-winning apps for iPhone and Android as well as access through virtually any web-enabled mobile device.

One of the strong suits of Ally Invest is its Trader Network, an online trading community that was rated Best Trader Community in 2013-2018. Investors can share ideas and strategies, see what hot stocks are being traded, get insights from fellow traders and professionals, and learn more about specific techniques like options, and fundamental and technical analysis.

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Ally Invest IRA Pros

  • Some of the lowest commissions in the business
  • No extra commissions for broker-assisted trades
  • No extra commissions for extended hours orders
  • No minimum investments or account balances
  • Free Dividend Reinvestment Plans (DRIP)
  • Highly regarded customer service
  • A top-ranked online trading community
  • Extensive educational and trading tools
  • Low cost professional portfolio management through Ally Managed Portfolios

Ally Invest IRA Cons

  • NTF funds are not offered
  • Limited news and research sources compared with other leading brokers
  • Additional $0.01/share charge for stocks priced less than $2.00
  • Limited extended-market trading hours

Ally Invest IRA Promotion

Up to $3,500 cash bonus + commission free trades for new accounts.


Ally Invest IRA Review Summary

Price-conscious investors will be attracted to Ally Invest's low commissions and minimum investment requirements. With the addition of MB Trading and their professional-grade trading platform, investors interested in trading futures should consider Ally Invest too. Beginning investors will appreciate the Trader Network online community as a learning source. Ally Invest offers a limited number of managed portfolios for inexperienced investors or buy-and-hold customers who want or need more professional advice and guidance. The management fees for their two managed portfolios, Core (0.25%) and Momentum (0.5%), are among the best comparing with other brokers who offer managed portfolios.

Since Ally Invest doesn't offer one-on-one investment advice, investors on a budget who require more personalized guidance may want to look toward a discount broker with a stronger personal advisor presence such as TD Ameritrade.

Overall, Ally Invest is a quality discount broker that has earned many accolades for price and customer service. It is a good choice for any investment retirement account: Traditional IRA, ROTH IRA, SEP, Simple, and Rollover IRAs. With low commissions, an active online community and learning environment, Ally Invest will appeal to beginning investors as well as active, experienced traders.

Ally Invest IRA Promotion

Up to $3,500 cash bonus + commission free trades for new accounts.

Open Ally IRA Account

Ally IRA Reviewed by Rating: 4.5