Comparison Ally Invest vs Robinhood
The InvestorGreg.net broker comparisons assess over a dozen different brokers, finding the best online trading brokers. This comparison page compares Ally Invest vs Robinhood. Is Ally Invest or Robinhood a better online broker?
Firstly, let’s compare commission fees provided by these brokers for regular transactions. Ally Invest has a commission fee of $4.95, and Robinhood has a commission fee of commission-free. When analyzing trading options, the commission fees of Ally Invest is $4.95 + $0.65 per contract, and that one of Robinhood is commission-free. The full online broker reviews contains more detailed information on the brokers’ commission fees.
Investors should always know about types of online trading supported by broker and about tools provided by them in trading. It is very important information as well. Let’s compare them. are Ally Invest provides customers with Stocks Trading, Penny Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading, Forex Trading, Futures Trading, Robo Advisor, and Robinhood provides customers with Stocks Trading, Options Trading, ETFs Trading, Crypto Trading. As for platforms, Ally Invest offers Web Platform, Android App, iOS App, while Robinhood offers Web Platform, Android App, iOS App.
Finally, by comparing the two online brokers, we want to pay attention to the year and country of establishing, the regulatory authorities and the possibility of withdrawing funds. Ally Invest was founded in 2005 in United States, and it is regulated by CFTC, NFA. And Robinhood was founded in 2013 in USA, and it is regulated by SEC, FINRA. We can withdraw funds from Ally Invest with the help of Bank Wire, Visa/Mastercard, and its withdrawal fee is $0. And Robinhood provides the ability to withdraw funds with the help of Bank Wire, and its withdrawal fee is free. The withdrawal time for Ally Invest is 3-5 days, and that one for Robinhood is 5 days trading holding period for uninvested funds.
Overall, Ally Invest boasts 3.7 stars versus Robinhood 3.4 stars.