Investor Junkie
MENUMENU
  • Start Investing
    • HOW TO GET STARTED INVESTING

      New here? Just starting as an Investor?

      If you're a new investor and visiting Investor Junkie for the first time, then this is what you need to get started.

    • GETTING STARTED STEPS

      • Get Rid of Consumer Debt
      • Start ​​​​​​​Investing Now
      • Open a Retirement Account
      • Create an Asset Allocation
      • Minimize Taxes
      • Reduce Fees & ​​​​​​​Fund Expenses
      • Start a ​​​​​​​Side Hustle
      • Protect ​​​​​​​Your ASSets
      • Next Steps
  • Reviews
      • Recommended Services

      • Personal Capital
      • Betterment
      • YNAB
      • Acorns
      • Fidelity Investments
      • Ally Invest
    • Robo Advisors

      • Betterment
      • Wealthfront
      • Wealthsimple
      • Blooom
      • More Reviews

      Stock brokers

      • Ally Invest
      • E*TRADE
      • Merrill Edge
      • TD Ameritrade
      • More Reviews
    • Microsavings

      • Acorns
      • Digit
      • Stash Invest
      • Qapital
      • More Reviews

      Banking

      • Ally Bank
      • CIT Bank
      • Chime
      • EverBank
      • More Reviews
    • Personal Finance

      • Mint
      • Quicken
      • Personal Capital
      • YNAB
      • More Reviews

      Accounting

      • FreshBooks
      • QuickBooks
      • Sage Business Cloud Accounting
      • Wave
      • More Reviews
    • Real Estate

      • Fundrise
      • Realty Mogul
      • RealtyShares
      • PeerStreet
      • More Reviews

      Peer-to-Peer Lending

      • Lending Club
      • Prosper
      • Wunder Capital
      • YieldStreet
      • More Reviews
    • Investment Research

      • Barron’s
      • Morningstar
      • Stansberry Research
      • YCharts
      • More Reviews

      Financial Books

      • Rich Dad, Poor Dad
      • Money Master The Game
      • The Millionaire Next Door
      • The Best Finance Books
      • More Reviews
  • Compare
    • Robo Advisors

      • Betterment vs. Wealthfront
      • Betterment vs. Vanguard
      • Wealthfront vs. Vanguard
      • Wealthfront vs. Wealthsimple
      • Compare Others
    • Personal Finance

      • Quicken vs. Mint
      • Mint vs. Personal Capital
      • Mint vs. YNAB
      • Quicken vs. Personal Capital
      • Compare Others
    • Stock Brokers

      • Schwab vs. Fidelity
      • E*TRADE vs. TD Ameritrade
      • E*TRADE vs. Robinhood
      • Fidelity vs. Vanguard
      • Compare Others
    • Real Estate

      • Fundrise vs. Realty Mogul
      • Realty Mogul vs. RealtyShares
      • Fundrise vs. Rich Uncles
      • LendingHome vs. PeerStreet
      • Compare Others
    • Banking

      • Best Online Savings Account
      • Best Online CD Rates
      • Best Jumbo CD Rates
    • Peer-to-Peer Lending

      • Lending Club vs. Prosper

      Microsavings

      • Acorns vs. Stash
  • Learn
      • All Articles
      • Investing SecretsInvesting Secrets
      • The Mint ManualThe Mint Manual
      • SEE ALL ARTICLES
    • Budgeting

      • How Much Do I Need to Save per Month
      • What is Zero-Based Budgeting?
      • 50/30/20 Budgeting Doesn’t Work
      • Why I’ve Switched to Personal Capital
      • See All

      Robo Advisors

      • Robo-Advisor Overview
      • True Costs of the Robo-Advisors
      • Robo-Advisors vs. Target Date Funds
      • Robo-Advisors vs. Microsavings
      • What is Tax-Loss Harvesting
      • See All
    • Investing

      • How to Choose an Online Broker
      • How to Transfer to a New Broker
      • Invest Your First $1,000
      • Who Offers a Virtual Trading Account?
      • See All

      Real Estate

      • Investing in Real Estate
      • 3 Steps to Get Started as a Real Estate Investor
      • You’re a Fool to Prepay Your Mortgage
      • How to Use Your 401(K) as a Down Payment
      • Tax Lien Investing
      • See All
    • Retirement

      • How to Rollover a 401(K)
      • How to Maximize Your 401(k)
      • Target Date Funds Comparison
      • Roth IRA vs. Traditional IRA
      • See All

      Taxes

      • 2017 Retirement Plan Contribution Limits
      • Tax-Efficient Investing
      • Tax-Loss Harvesting
      • How to Pay $0 Tax on a Six-Figure Income
      • The Best Tax Software for Investors
      • See All
  • Promotions
    • Featured promotion
      Betterment

      Betterment

      BEST OFFER
      Up to one year managed free initial deposit

      Learn More
    • Stock Brokers

      • Ally Invest
      • E*TRADE
      • Firstrade
      • Merrill Edge
      • TD Ameritrade

      Best IRA Promotions

      Free Stock Trading

    • Robo Advisors

      • Betterment
      • Blooom
      • Wealthfront
      • Wealthsimple
      • Ellevest
    • Personal Finance

      • Quicken
      • QuickBooks
      • YNAB
    • Microsavings

      • Rize
      • Stash Invest
      • Acorns
    • Other

      • Lending Club
      • Roofstock
      • RealtyShares
      • YCharts
      • Personal Capital
Home > Stock Brokers > Compare > Charles Schwab vs. Ally Invest
Back to Compare

Charles Schwab vs. Ally Invest

Online brokerage services have existed for over 20 years. Trading investments today has never been cheaper. So while the race towards cheap trades (in some cases free) is happening, other functionality is becoming more important when selecting a stock broker.

For this review, I compare Charles Schwab and Ally Invest. Which one is better depends on your needs? So let's examine the major features first.

We've determined with online brokerages the most critical feature customers care about is the cost per trade. The second most important feature is the minimum deposit, and the last is if the broker offers mutual funds. Let's look at how Charles Schwab and Ally Invest stack up against each other on these points.

To start, we will consider the minimum investment required for both applications. In other words, how much does one need to invest to use the service? Out of the two, Ally Invest minimum investment of $0 is smaller than the deposit of required by Charles Schwab.

Next I'll consider cost per trade for both brokers. Both Charles Schwab and Ally Invest cost the same at $4.95/trade and are equal in price.

Both Charles Schwab and Ally Invest offer mutual funds. So this feature isn't a clear difference between the stock brokers.

Overall, Charles Schwab rates 9 out of 10, while Ally Invest ranks 8.5 out of 10. For more information on either, you can read our full reviews on Charles Schwab and Ally Invest.

Stock Brokers

Charles Schwab

Ally Invest

ReviewCharles Schwab ReviewAlly Invest Review

Overall rating as by Investor Junkie.

Rating
9/10
8.5/10
Commissions & Fees
9/10
9/10
Customer Service
9.5/10
8.5/10
Ease of Use
9/10
8.5/10
Tools & Resources
8.5/10
8.5/10
Amount of Deals
9/10
8.5/10
Account Options
8/10
9/10
PromotionsNone90 Days Free Trades OR $200 Cash
Minimum Investment$1,000$0
Stock Trades$4.95/trade$4.95/trade ($3.95/trade – 30 trades per quarter or $100k+ balance)
Options Trades$4.95/trade + $0.65/contract$4.95/trade + $0.65/contract ($3.95/trade + $0.50/contract)
Mutual FundsYesYes
Investment TypesStocks, Penny Stocks, ETFs, Mutual Funds, BondsStocks, Penny Stocks, ETFs, Mutual Funds, Bonds, FOREX, Futures
Accounts
  • Taxable
  • Joint
  • Roth IRA
  • Traditional IRA
  • Rollover IRA
  • Custodial
  • SEP IRA
  • SIMPLE IRA
  • 401(k)
  • Solo 401(k)
  • Trusts
  • Limited Parternships
  • Partnerships
  • Non-Profit
  • 529
  • Coverdell
  • Annuities
  • Checking
  • Savings
  • Money Market
  • CDs
    • Taxable
    • Joint
    • Roth IRA
    • Traditional IRA
    • Rollover IRA
    • Custodial
    • SEP IRA
    • SIMPLE IRA
    • 401(k)
    • Solo 401(k)
    • Trusts
    • Limited Parternships
    • Partnerships
    • Non-Profit
    • 529
    • Coverdell
    • Annuities
    • Checking
    • Savings
    • Money Market
    • CDs
      AccessWebsite, iOS App, Apple Watch, Android AppWebsite, iOS App, Android App
      Broker Assisted TradeYesYes
      Virtual TradesYesYes
      No Fee ETFsYesNo
      Customer ServiceYesYes
      AutotradingNoYes

      Sign Up

      Sign UpSign Up

      About Charles Schwab

      Charles Schwab is the Nordstrom of the investment world, and customers virtually always leave happy. As a customer, you'll get access to virtually all the investment services that come standard at any major brokerage. However, if you're an active trader, you might find other firms with better options.

      About Ally Invest

      Ally Invest is the online brokerage firm of Ally Bank with great pricing and customer service, making it hard to beat. Unfortunately, the funding process can be tricky, taking up to seven days. If you are looking for a local branch office, you'll have to look elsewhere.

      Other Comparisons

      • Fidelity vs. Vanguard
      • E*TRADE vs. TD Ameritrade
      • Fidelity vs. TD Ameritrade
      • Charles Schwab vs. Fidelity
      • Charles Schwab vs. Vanguard
      • E*TRADE vs. Robinhood
      Back to Compare
      Share
      Tweet
      Share
      Reddit
      Email
      Larry Ludwig
      Author: Larry Ludwig
      Updated: March 16, 2018
      Category: Stock Brokers

      Investor Junkie

      Helping make finance easy. Investor Junkie is your shortcut to financial freedom. We know that managing finances is not easy. We analyze and compare tools to help you make the best decisions for your personal financial situation.

      © 2018 Empowering Media, Inc. All Rights Reserved
      Subscribe to the Investor Junkie Newsletter
      • About
      • Careers
      • Contact
      • Advertise
      • Privacy
      • Disclaimer

      Stay Connected to Investor Junkie

      • subscribe unsubscribe

      Investor Junkie is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investor Junkie has advertising relationships with some of the offers listed on this website. Investor Junkie does attempt to take a reasonable and good faith approach to maintaining objectivity towards providing referrals that are in the best interest of readers. Investor Junkie strives to keep its information accurate and up to date. The information on Investor Junkie could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.