Funding Ally Invest: A Guide To Getting Started

Ally Invest is an online platform that offers banking and investing services to its clients. It provides several options for investors of all experience levels, including self-directed and managed accounts. The platform is known for its low costs, low minimums, and solid trading platform. Ally Invest offers commission-free trading on eligible U.S. stocks and ETFs, with no account minimum required. It also provides instant money movement between Ally savings and brokerage accounts, allowing investors to take advantage of higher interest rates compared to typical default sweep interest rates offered by most brokerages. In addition, Ally Invest has a user-friendly interface, 24/7 customer support, and various tools such as screeners and analysis tools.

No account minimum to start

Ally Invest is an online platform that provides online banking and investing services to its clients. It is a suitable option for investors of all budgets and experience levels, with no account minimum required to start for self-directed brokerage cash accounts. This makes it a great option for those who don't have much to invest at the beginning.

Ally Invest offers a range of investment options, including self-directed and managed accounts. The platform is easy to use, with intuitive menus and the ability to automatically view real-time quotes and an updated portfolio value. It also integrates well with other Ally products, such as online banking, credit cards, CDs, and home and auto loan offerings, providing users with a comprehensive snapshot of their financial condition.

In terms of fees, Ally Invest offers commission-free trading on eligible U.S. stocks and ETFs, with no account minimum and low-cost options trading. There is a $4.95 base commission for stocks and ETFs priced under $2, plus $0.01 per share. Options trades have a $0.50 per contract fee, which is lower than that of some other brokers.

Ally Invest also provides educational support and tools such as screeners, calculators, and third-party research to help investors make informed decisions. With its competitive rates, robust platform, and wide range of features, Ally Invest is a solid choice for both novice and experienced investors.

$0 trading costs on eligible U.S. securities

Ally Invest offers a wide range of investment options for self-directed accounts, including stocks, bonds, ETFs, margin accounts, and more. There is no minimum balance required to start, making it accessible to everyone. The platform also provides various tools, such as charts, screeners, and expert analysis, to guide your investment research.

In addition to $0 trading costs on eligible U.S. securities, Ally Invest also offers low-priced securities, which are defined as any equity below $2. For these low-priced securities, there is a $4.95 base commission plus a $0.01 charge per share on the entire order. It's important to note that the maximum commission charge doesn't exceed 5% of the value of the trade.

Ally Invest also provides a selection of commission-free ETFs from market leaders like Vanguard, GlobalX, and iShares. This includes a range of socially responsible investment funds. With its competitive rates, user-friendly platform, and educational resources, Ally Invest is a solid choice for both new and experienced investors.

The company has also eliminated its $9.95 fee for mutual fund trades, allowing investors to choose from approximately 5,500 mutual funds with no transaction fees. This further enhances the cost-effectiveness of investing with Ally.

Low-cost options trading

Ally Invest is a good option for low-cost options trading. It has a $0 account minimum and charges no commission fees on most U.S.-listed stocks, ETFs, and options. This includes commission-free trading on eligible U.S. stocks and ETFs, as well as a wide selection of commission-free ETFs from market leaders such as Vanguard, GlobalX, and iShares.

Ally Invest also offers a $0.50 options-contract fee, which is lower than some other brokers, and there is no base commission for options trades. This makes it a strong option for options traders.

In addition, Ally Invest provides instant money movement between Ally savings and brokerage accounts, allowing investors to take advantage of higher interest rates than the typical default sweep interest rates offered by most brokerages. However, this requires opening a separate Ally savings account.

Ally Invest's browser-based platform offers quick trading capabilities, real-time streaming quotes and data, a customizable dashboard, and access to various trading tools. It also offers extended trading hours, running from 8 a.m. to 5 p.m. Eastern, and over-the-counter trading for securities priced below $2 (although fees apply for these trades).

Overall, with its competitive pricing, helpful trading tools, and easy-to-use trading platform, Ally Invest is a good choice for those seeking low-cost options trading.

Instant money movement between Ally savings and brokerage accounts

• Visit the "Transfers" page on the Ally website or mobile banking app.
• Select the account you want to withdraw funds from.
• Choose the account you want to deposit the funds into.
• Enter the amount you wish to transfer.
• Select the frequency of the transfer (one-time or recurring).
• Specify the date of the transfer.
• Review your transfer details and submit your request.

Keep in mind that transfers between Ally Invest accounts can only be made from Monday through Friday, 8:00 a.m. to 3:55 p.m. EST. The time it takes for the transfer to be completed can vary from a few minutes to up to five business days, depending on the type of Ally Invest account involved.

No commission fees on most U.S.-listed stocks, ETFs and options

Ally Invest offers no-commission fees on most U.S.-listed stocks, ETFs, and options. This means that investors can trade certain U.S. stocks, ETFs, and options without paying any fees or commissions to Ally Invest. This is a significant advantage for investors, as it reduces the overall cost of investing and allows them to keep more of their profits.

There are, however, some exceptions to this no-commission policy. For stocks and ETFs priced under $2, there is a $4.95 base commission plus $0.01 per share. This means that while most U.S.-listed stocks and ETFs are commission-free, those with a lower price may incur a small fee. Additionally, options trades have a flat fee of $0.50 per contract, which is separate from the regular commission. It's important to note that these fees are specific to Self-Directed Trading accounts, and other types of accounts may have different fee structures.

Ally Invest also offers a wide range of investment selections, providing investors with diverse options to build their portfolios. The company's commitment to keeping costs low makes it an attractive choice for both beginner and experienced investors. With no account minimums, investors can start trading with as little as $0, making it accessible to those who are just starting their investment journey.

In addition to the no-commission structure, Ally Invest provides tools and resources to support investors in their decision-making. This includes screeners, expert analysis, and real-time data to help investors research and make informed choices. The platform also offers instant money movement between Ally savings and brokerage accounts, allowing investors to take advantage of higher interest rates compared to typical default sweep interest rates offered by most brokerages.

Overall, the combination of no-commission fees on most U.S.-listed stocks, ETFs, and options, along with low account minimums and a user-friendly platform, makes Ally Invest a compelling option for those looking to start or expand their investment portfolio.

Frequently asked questions