Ally Invest Review 2017 – Do it right
Have you ever heard of Ally Invest?
Are you searching for more details about this platform and the services that Ally Invest offers to find out if this may be interesting for you?
If yes, you just opened the right page as we checked this platform out for you.
In the following we will inform you about the most important things you need to know.
Ally Invest provides the service of web based trading in the shape of a streaming HTML 5 platform.
This is meant for traders of all different levels - for beginners, for professional traders and for everybody in between.
This platform offers you the opportunity to make your choice between many different managed and self-directed investment products for day trading.
You can use the platform and your account with your computer or your laptop and as well as with all kinds of mobile devices, like e.g. with tablet apps for iPhone and Android.
This will enable you to get access to your portfolio and account where ever you are and at every time - to manage your account and to execute your trades ideas across the devices of your choice.
With the help of highly advance charting tools and calculators, Ally Invest promises to improve your trade ideas and opportunities for you will take more advantage of your investments.
This doesn't sound bad, right?
So, let's investigate this to find out if Ally Invest keeps the promises and if it may be worth it to have a closer look at this platform.
How does the website of Ally Invest look like and is it easy to handle?
First of all, I have to tell you that I really liked the first impression of the platform. If you already read some of my other reviews, you know that this is quite important to me.
The platform of Ally Invest is not overloaded, it has a clear structure and it offers a user friendly way to navigate and to go directly to the information you are searching for.
In this case, it was easy to find what I want to tell you and this gives me the impression that there is not much hidden on this platform.
Well, maybe the user friendly structure of the platform is the result of the long experience in this business as Ally already exists for almost 100 years. Amazing, isn't it?
Ally presents itself as being completely focused on the customers and their individual wishes.
That's why they constantly update their service to be able to make a difference for the users.
This also counts for the price winning customer service that Ally Invest wants to be as great as ever possible and different from the other offers in the market.
It sounds quite impressing that they promise that experienced brokers will be available and ready to answer all of the investors' questions on a 24/7 base.
So, if you want to see if this is true, have a try, contact Ally Invest and find out what will happen.
When I checked this platform out, there was something else that made a positive impression on me.
On this platform you will find a reminder of the risk telling clearly that options may not be suitable for every investor.
Ally Invest gives all investors the advice only to start with trading after reading the brochure “Characteristics and Risks of Standardized Options” that you can download directly on the website.
They don't deny the fact that options investors may lose the complete amount of the trade.
Yes, of course everybody should know this without being reminded, but when I compare these clear and open words on the platform with the way many competitors present their service, this sounds really fair to me.
Beside this, Ally Invest invites you to check the company's background at the FINRA's Broker Check.
So, all in all, my first impression was a positive one. But of course it is much more important which kinds of services Ally Invest is offering and what these services cost.
This will be the next point on our list.
So, please, continue reading the Ally Invest Review.
Ally Invest – Products, costs and tools
You know, I always like it to start this with some good news – and here they are.
Ally Invest offers some free education to help you to improve your skills.
On the platform you have free access to a list of articles about market trends and investment strategies.
So, if you are interested, check them out and see if they may be helpful.
This won't cost anything at all.
The tools that Ally Invest is offering seem to include everything you need for well informed trading decisions:
Streaming Charts: Ally Invest provides you with six different kinds of charts that include mountain, bar, candlestick and line for more than 90 different kinds of chart studies and drawing tools you can use to analyze the stocks' performance, like e.g. the performance of stocks, indices and ETFs.
You will be able to adjust the settings to your personal preferences and to use interactive charts for studies and prices.
Profit / Loss Calculator: This will help you to be completely aware of the realistic profit and loss potential of your option trade before you will place it.
It will show you how the result may change because of fluctuations in time and volatility.
Market and Company Snapshots: With the help of this tool you will see what is going on in the market, especially regarding the securities you are interested in.
Here you will find market news and stats, detailed metrics and detailed insight into companies you want to watch. So, you will be the one who knows it all.
Probability Calculator: This one will help you to use the implied volatility to see the probability of reaching your targets. Use this one before you will place your order.
Option Chains: These highly advanced option chains will make it much easier for you to execute your trades including complex multi-leg spreads.
Watch-Lists: Here it is up to you to set up and to customize one or several watch-lists to follow the market data and the tabs on certain groups of securities you are interested in.
Market Data: See all kinds of data of the company of your choice, like e.g. charts, quotes, dividend data, low and high prices, news, overall options summaries, peer performance comparisons, historical quotes and even more.
With all of these, Ally Invest promises to provide do-it-yourself investors with the best tools and market research to enable them to make their own decisions – well informed decisions with a high possibility to be successful.
Regarding the services and the costs, you will find two main groups of products that Ally Invest offers.
The first group of services is called Self-Directed Trading.
This one is meant for hands-on investors.
Ally Invest presents this service with the statement that their trading fees belong to the lowest in the market and that there will be no hidden fees and no account opening minimum.
This service includes unlimited access to the highly advanced tools mentioned above - for a detailed analysis of the market and for in-depth research that support all kinds of investment strategies that you may choose.
For do-it-yourself investors, this service contains a big variety of products for the following investments:
- Mutual Funds
If this made you curious and if you start thinking about having a try with this, here I tell you what it all costs:
- for stock and ETF trades: $ 4.95
- for option trades: $ 0.65 per contract plus $ 4.95 base
Volume / Balance Pricing
- with the average of a daily balance of $ 100,000 and 30 trades per quarter or more
- for stock and ETF trades: $ 3.95
- for option trades: $ 0.50 per contract plus $ 3.95 base
The second group of services is called Ally Invest Managed Portfolio.
This offers automated investments that are managed in a professional way.
This means that Ally Invest recommends and manages a professionally created portfolio that is adjusted to your individual goals, your personal risk tolerance and your time limits.
In this case, the technological tools of Ally Invest will monitor and re-balance your account automatically.
You can have a try with this when you start with a minimum investment of $ 2,500.
Also here, the promises are low costs compared with other offers and diversified exchange-trades funds (ETFs).
And these are the two price models for this service:
Annual Advisory Fee: 0.30 % for all balances
Estimate Your Monthly Fee: with an account balance of $ 50,000 this costs $ 12.50 per month
I think, this sounds quite clear, but if you have any further questions, Ally Invest invites you to call the customer service on 24/7.
Beside this, there is a quite detailed FAQ section you can use.
Several awards seem to prove the performance of Ally Invest:
- Best in Class “Commissions & Fees” by StockBrokers.com in 2016
- 4 Stars-Rating by Barron's from 2007 – 2016
- Best in Class “Offerings & Investments” by StockBrokers.com in 2016
- Customer Service – Award by StockBrokers.com in 2015
At this point I want to add something else that seems to make a difference as I didn't find anything similar on other platforms.
This is the account protection that Ally Invest offers.
As a member of the SIPC (Securities Investor Protection Corporation), Ally Invest guarantees that your customer claims up to $ 500,000, including a maximum value of $ 250,000 for cash claims, are covered.
This is possible because the SIPC protects your funds if Ally Invest may ever fail, but of cause this doesn't mean that your possible investment losses from the marked will be covered as well.
On the platform you will find a direct link to read all details about the SIPC protection.
In addition to this, Ally Invest has a coverage of up to $ 37.5 million that includes up to $ 900,000 in cash with an aggregate cap of $ 150 million.
And even though this should be clear, Ally Invest added the information that this protection does not cover futures and forex trading.
Ally Invest – My personal summary
I am really impressed by the user friendly look of this not overloaded platform.
Now you may say that there is not enough information at all and that you still have a lot of questions regarding further details.
All right, but this website includes the basic information you need to find out if this service may be interesting for you.
If you want to ask further questions, find your answers in the FAQ section or have a try and challenge the 24/7 customer service.
I think, in our world of today it belongs to the most important points that a trading platform enables you to get full access with your mobile devices.
Ally Invest assures this.
The two different groups of products and services make sense to me as they give you the chance to decide if you want to act yourself or if you prefer it if Ally Invest does the job for you.
Beside all this, I really think, it means a big advantage if a trading platform was created by a company that exists for about 100 years and that adds the details of the account protection and that dares also to remind the traders of the risks.
If you also see these points in a positive light and if you think that Ally Invest may offer the service that meets your needs, get in touch with their customer service and give it a try.
The advantages I see:
- a well structured, user friendly platform
- Ally being in the business for about 100 years that must be connected with a lot of experience and with satisfied customers
- the 24/7-customer service
- full access with all kinds of mobile devices
- free material for education
- the added information about the account protection and the risks
The disadvantages I see:
- maybe not enough detailed information for everybody on the website
However, only your own personal experiences can show you if this is exactly the kind of service that you have been searching for.
So, give it a chance and check this out yourself: https://www.ally.com/invest/