Invest Wisely With Ally: A Beginner's Guide

Investing can be daunting, but Ally Invest makes it simple. With no account minimum, you can get started with as little as $1. Ally Invest offers a range of investment options, including stocks, bonds, ETFs, and more. Their $0 trading costs on eligible U.S. securities and low options contract fee of $0.50 make it an attractive option for beginners and experienced investors. In addition, their easy-to-use website and mobile app provide access to real-time quotes, news, and customizable dashboards to help you make informed investment decisions. With its competitive pricing, robust tools, and seamless integration with other Ally products, Ally Invest is a great choice for those looking for an intuitive platform to manage their investments.

How to open an account with Ally Invest

To open an account with Ally Invest, you must be a US resident with a US residential address and a Social Security or tax identification number. You can choose to open a standard brokerage account or an IRA. The process takes about 5 minutes.

There is no account minimum for a Self-Directed brokerage cash account, but a Self-Directed brokerage margin account requires a $2,000 minimum deposit. Robo Portfolios require a $100 initial minimum deposit, and Personal Advice requires a $100,000 minimum in assets under care.

To apply for an Ally Invest Self-Directed Trading account, you can select "Start Trading" on the Ally website and enter your personal information, account type, and funding options. For a Robo Portfolio, you can select "Create My Plan" to get a personalized portfolio recommendation and then apply. For Personal Advice, you must be an existing customer with at least $100,000 in investable assets, and you can select "Schedule a Call" to be paired with an advisor.

How to use the Ally Invest website

Ally Invest is an online brokerage platform that offers a range of investment options, including stocks, bonds, exchange-traded funds (ETFs), and more. Here's a step-by-step guide on how to use the Ally Invest website to start investing:

• Sign Up for an Account: Visit the Ally Invest website and click on the "Sign Up" or "Open an Account" button. You will need to provide personal information such as your name, contact details, Social Security number, and funding source. You will also need to choose the type of account you want to open, such as a standard brokerage account or an IRA.
• Fund Your Account: After signing up, you will need to fund your account to start investing. You can link your bank account or transfer funds from an existing brokerage account. Make sure you meet the minimum deposit requirements, if any, for the type of account you have chosen.
• Explore the Platform: Ally Invest offers a user-friendly interface with intuitive menus. Take some time to navigate the website and familiarize yourself with the different features and tools available. The website provides access to screeners, trading products, research tools, and educational resources.
• Research and Select Investments: Ally Invest offers a variety of investment options. You can use the screeners and research tools on the website to explore different stocks, ETFs, mutual funds, and other securities. Consider your investment goals, risk tolerance, and time horizon when making your selections.
• Place Trades: Once you have decided on your investments, you can start placing trades. Click on the "Trade" or "Buy/Sell" button and enter the ticker symbol of the security you want to trade, the number of shares, and the order type (market, limit, etc.). Review your order details carefully before placing the trade.
• Monitor and Manage Your Portfolio: Ally Invest provides a customizable dashboard where you can track your investments and view real-time quotes and portfolio values. You can also set up watchlists to follow specific securities and receive alerts about market movements.
• Access Research and Tools: Ally Invest offers a range of research and investment tools to help you make informed decisions. This includes market news, analyst ratings, stock screeners, options analysis tools, and probability calculators. Utilize these resources to refine your investment strategy and identify new opportunities.
• Customer Support: If you have any questions or need assistance, Ally Invest offers customer support via phone, chat, and email during extended business hours. You can also refer to the website's help section or community forums for additional guidance and tips from other users.

Remember to review Ally Invest's fees, commissions, and disclosures before placing any trades. The website provides detailed information about its pricing structure, account types, and security measures.

How to use the Ally Invest app

The Ally Invest app is a great way to manage your investments on the go. Here's a step-by-step guide on how to use the Ally Invest app:

• Download the App: If you haven't already, download the Ally Invest app from the App Store or Google Play.
• Login or Sign Up: Open the app and log in to your existing Ally Invest account. If you don't have an account yet, you can sign up directly from the app. You'll need your Social Security or tax identification number and a U.S. residential address.
• Explore the App: The app offers a user-friendly interface with easy navigation. You can access your holdings, trading platform, research tools, screeners, and watchlists.
• Trading: To place a trade, go to the trading section of the app. Select whether you want to trade stocks/ETFs or options. Enter the stock symbol or name, and specify the order type, quantity, and any other relevant details. Preview your order before submitting it.
• Research: The app provides a range of research tools to help you make informed investment decisions. You can access news, market updates, company financials, analyst ratings, and more.
• Account Management: The app allows you to easily manage your Ally Invest account. You can view your account balance, transaction history, and portfolio performance. You can also set up notifications and alerts to stay updated on your investments.
• Customer Support: Ally Invest offers customer support directly through the app. You can reach out via call, chat, or email during their operating hours if you have any queries or issues.
• Security: Ally Invest prioritizes the security of your account. Enable two-factor authentication and biometric login for added security.
• Transfer Funds: You can seamlessly transfer funds between your Ally Invest account and your Ally savings account through the app. This allows you to take advantage of higher interest rates offered by Ally.
• Customization: Personalize your app experience by customizing watchlists, news preferences, and notification settings to suit your investing needs.

Remember to assess your financial situation and goals before investing, and consider consulting a financial advisor if you require personalized advice.

How to use Ally Invest for beginners

Ally Invest is a good choice for beginners as it offers a wide range of investment options, low fees, and an intuitive platform. Here's a step-by-step guide on how to get started with Ally Invest:

• Sign up for an account: You can sign up for an Ally Invest account on their website. You'll need your Social Security or tax identification number and a U.S. residential address. You'll also need to choose between opening a standard brokerage account or an IRA. There is no account minimum for self-directed trading accounts, but there is a $100 minimum for robo-advisor accounts.
• Fund your account: Ally Invest offers easy and instant money movement between Ally savings and brokerage accounts. You can transfer funds from your bank account to your Ally Invest account to start investing.
• Choose your investment strategy: Ally Invest offers three main types of accounts: self-directed trading, robo-portfolios, and personal advice. With self-directed trading, you can choose your own investments, including stocks, ETFs, options, bonds, and mutual funds. Robo-portfolios offer automated investing based on your financial goals and risk tolerance, with a $100 minimum. Personal advice provides access to a dedicated financial advisor for a personalized financial plan, with a $100,000 minimum.
• Research and select your investments: Ally Invest provides a variety of tools and resources to help you research and select investments, including screeners, market research, streaming charts, and custom watchlists. You can also use their TipRanks Smart Score tool to analyze stocks.
• Place your first trade: Once you've funded your account and chosen your investments, you can place your first trade. Log into your account, select the investment you want to purchase, enter the number of shares, and submit your order. You can also use the Ally mobile app to trade on the go.

Remember to consider your financial goals, risk tolerance, and investment horizon when choosing your investments. Diversification is also important to manage risk. As a beginner, it's essential to educate yourself about investing and seek professional advice if needed.

How to use Ally Invest for advanced investors

Ally Invest is a good low-cost broker for advanced investors. It offers a range of self-directed and automated brokerage accounts, including retirement plans and advisor-guided wealth management. Here are some tips on how to use Ally Invest for advanced investors:

• Take advantage of the low trading costs: Ally Invest offers $0 trading costs on eligible US securities, no account minimum, and low-cost options trading. This makes it a great platform for active investors.
• Utilize the advanced trading tools: Ally Invest provides a suite of free tools for technical investors, including market research and analysis, options trading, ETF screeners, and additional charting capabilities.
• Explore the different account options: Ally Invest offers self-directed, automated, and advisor-assisted account options. The self-directed brokerage accounts offer commission-free trading of stocks, ETFs, and options, while the automated accounts provide passive investing with a range of portfolio options.
• Consider the Wealth Management account: If you want personalized financial planning, you can work with a dedicated financial advisor through the Wealth Management account. This account requires a $100,000 minimum and charges advisory fees of up to 0.85%.
• Trade a variety of securities: In addition to stocks, ETFs, and options, Ally Invest allows you to trade mutual funds, bonds, and other low-priced securities. You can also invest in crypto-specific funds and stocks for crypto market exposure.
• Take advantage of extended trading hours: Ally Invest offers extended trading hours from 8:00 a.m. to 5:00 p.m. Eastern, giving you more flexibility to make trades.
• Stay informed with research and analysis: Ally Invest provides access to real-time streaming quotes and data, as well as research and analysis tools to help you make informed investment decisions.
• Manage your cash efficiently: Ally Invest offers instant money movement between Ally savings and brokerage accounts, allowing you to take advantage of higher interest rates compared to typical default sweep interest rates.
• Stay connected with customer support: Ally Invest provides customer support via call, chat, and email during extended hours, making it easy to get assistance when needed.

Frequently asked questions