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Ally Invest (formerly TradeKing)

Ally Invest

About Ally Invest

Ally Invest is the brokerage arm of Ally Financial. Ally opened in 1919 as GMAC, the financing division of General Motors, turned GMAC Bank into the online-only Ally Bank in 2009, renamed itself Ally Financial in 2010 and went public in 2014. It acquired TradeKing Group and relaunched it as Ally Invest in 2017. TradeKing had itself merged with Zecco, the free-trading broker that used to be listed on this site, in 2012. Ally says it now serves over 11 million customers.

Self-directed accounts can trade stocks, ETFs, options, bonds and more than 17,000 mutual funds. Most US-listed stocks and ETFs are $0 commission. Stocks priced under $2 cost $4.95 plus $0.01 per share, options are $0.50 per contract, no-load mutual funds are $0 and bonds are $1 each with a $10 minimum. There is no minimum for a cash account and a $2,000 minimum for margin. Tools include charts, stock and ETF screeners, and TipRanks analyst ratings.

The main reason to choose Ally Invest over another broker is Ally Bank. Banking and investing sit under one login, and money moves easily between a savings account and a brokerage account. Ally also offers Robo Portfolios, which start at $100 and have an option with no advisory fee, and Personal Advice, which pairs you with a dedicated advisor for accounts of $100,000 or more. Dividend reinvestment is free and supports fractional shares.

Rating

Please leave a comment about your rating.

Commissions

  • Stocks: $0 per trade on eligible US stocks and ETFs. Stocks priced under $2 are $4.95 per trade plus $0.01 per share.
  • Options: $0.50 per contract.
  • Read more: Commissions and Fees at Ally Invest

Rates & Fees

Minimum Initial Deposit

  • No minimum initial deposit

Special Offers at Ally Invest

  • None yet!

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Archived comments

14 comments from the original site. Comments are closed.

George

TradeKing.com is a great broker with low commission and margin rates. ($4.95 per trade for stocks, add $0.65 per contract for options). The website is intended mostly for options traders, but works well for trading stocks too. They have awsome options tools which help you trade one step above the rest. TradeKing has stellar execution. The website has some useability issues, but is pretty good overall. I wish they had faster servers/bandwith. This site is not for the novice, and I recommend it to anyone who trades options and stocks on a regular basis. One thing I like are the different type of options order screens they have. Each strategy has its own order page. If you don’t trade options you might not like this site. Lastly, TradeKing has an active blogging community and you can learn a lot from these guys/gals.

Pros:

Cheap Trades
Great Tools
Great Execution
Intelligent Members-Only Trading Community

Cons:

No Streaming Quotes
Sluggish Web Interface

Nancy Wendler

I was interested in trading on line to open DRIPs. I had read that Trade King was a good stock trading site to get started. In researching, I found that the price of trades was excellent and that there is n minimum. How ever in reading your site I wonder since I do not want options is this a worthy site for me? Any sugestions? Thanks!

Roy Williams

I have an acct. with you and would like to start trading but have no user name or password please help Thanks.Roy

DP

Trade King has its flaws but overall is acceptable for the rates charged. The biggest problem with it is that it doesn’t show you your positions until they update every night. They show up at zero until then even though you can trade them. Each time I needed something, they were quick to answer and accommodate. Broker assisted trades don’t cost extra which is nice.

Roy Williams

I want to trade today6/6/07 and i can not get on to trade please help—- desperate—roy

Roy Williams

I still do not have my user name and password,What gives?

investor99

i am with tradeking now. i like them coz their margin rates are lower than most for low balances. they definitely have some technology issues, though. my buying power changes a lot, like in thousnds, even when my etfs are flat. also it took 20 minutes to execute a market order, and that was after i contacted them. they didnt offer any explantion why, but the etf price didnt move, so i didnt mind. but i just hate to have to keep a close eye on everything. the other good thing is that minimum maintenance requirement for margin is only 30%, rather than 35% which most other brokers have.

Tristan Yates

I am a happy TradeKing customer. The customer service is good and the site is easy to use. I buy LEAPs and the spreads can widen a lot which means that sometimes when I look at my account I’m down thousands of dollars because they valued my holdings based upon some wild price swing on a low liquidity option that I own a lot of. I don’t know if that’s happens with every options account, but it doesn’t bother me now that I know what’s going on.
-Tristan Yates, IndexRoll

Dean47

I have a TradeKing account, and was generally satisfied until today.

I put out a limit order for 11.77 a few days ago. The stock opened dramatically lower today, trading at 11.34 for some time. However, the limit order did not execute. I then decided to lower my limit to 11.50. Another minute or so goes by (I wish I was making that up), and TradeKing finally updates to BOT at 11.50.

It was like watching cold molasses run down a hill. I was not impressed with the speed of execution, and I was not impressed that I was filled at exactly my limit, when the stock was trading lower.

I have a Scottrade account also, and for a couple more bucks a trade, they have given me superior execution speed and fill prices. They just need a MM Sweep and ACH out, and they would be much better than TradeKing.

masakarua

I like Trade King because it is a user friendly site and excellent for options traders. Personally I think it was designed for options and nothing else it’s just that they won’t tell u..Overall GREATEST OPTIONS BROKER.

Sanjeev Bhadresa

Forget Tradeking if this applies to you!

Foreign citizens with a US Tax ID number and legally living in the USA may open a TradeKing account with the exception of citizens from the following countries: Australia, Austria, Belarus, Canada, Cote d’Ivoire (Ivory Coast), Cuba, France, Germany, Hong Kong, Italy, Iran, Iraq, Japan, Liberia, Libya, Malaysia, Myanmar (Burma), Netherlands, Nigeria, North Korea, Saudi Arabia, Singapore, Taiwan, Sudan, Syria, United Kingdom, Zimbabwe.

Linda

Hi

I just opened an account with Trade King. I have never bought and traded before and my education is in science. Can anyone please advise me on the key things to keep in mind when buying and trading stocks? What online websites are most helpful in giving good insight on the next booming stocks?

Kel

For the second time in two days their website has had tech issues. I was unable to login and missed out on trades. This is very unacceptable.

jasmine

Article writing is also a fun, if you be acquainted with then you can write or else it
is complex to write.