tastyworks vs Ally Invest Review

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tastyworks vs Ally Invest, two great brokers for options trading, is tough matchup. Both brokers cater to active options traders, but at the end of the day, Ally Invest takes the win with the backing for a full online bank and 24/7 customer service.

Neither brokers charge for market data or account inactivity fees.

The offering of a diverse range of financial products, like CDs, ETFs, and bonds place Ally slightly above tastyworks for 2018.

New traders, especially beginner options traders, might find tastyworks’ trading platforms overwhelming at first glance. On the contraty, Ally Invest’s platforms are very simple and very efficient for placing trades and managing positions.

tastyworks vs Ally Invest 2018

Company Ratings

tastyworks

Ally Invest

Overall

Commissions & Fees

Customer Service

Trading Platforms

Mobile App

Overall Ease of Use

Promotion Value

Fees

 tastyworks

 Ally Invest

Minimum Deposit

 $2,500

$0

Stock Trade Fee

 $5.00 (free closing trades)

 $4.95 to $3.95

Options Ticket Charge

 None

 $4.95 to $3.95

Options per Contract Fee

 $1.00 (free closing trades)

 $0.65 to $0.50

Mutual Fund Fee

N/A

 $9.95

Market Data Fee

 Free

 Free

Wire fee (outgoing)

 $25

 $20

Inactivity fee

 None

 None

Investments

tastyworks

Ally Invest

Stocks

Options

Futures

Forex

Bonds

OTC Stocks

Penny Stocks

Options on Futures

Crypto

Mutual Funds

0

10,264

International Trading

Advisor Services

Trading Platforms

tastyworks

Ally Invest

Web-based

Mobile App

Downloadable (Mac)

Downloadable (PC)

Real-time Level II data

Real-time Charting

Historical Option Data

Options Analysis

iPad App

Company Info

tastyworks

Ally Invest

In-person Branches

Customer Service hours

9-5 CT, M-F, phone + live chat

24/7

Sum of Client Balances

Not listed

$167bn+

Member FDIC

Savings Account

Checking Account

Free Online Banking

Margin Rates

tastyworks

Ally Invest

Under $24,999

8.00% Base Rate + 1.00%

9.25%

$25k-$49,999

7.50% Base Rate + 0.50%

9.00%

$50k-$99,999

7.00% Base Rate

8.25%

$100k-$249,999

6.50% Base Rate – 0.50%

7.00%

$250k-$499,999

6.00% Base Rate – 1.00%

6.00%

$500k-$1M

5.50% Base Rate – 1.50%

5.50%

Above $1M

5.00%

4.75%

Full Review

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Although Ally doesn’t offer any downloadable trading platforms, the ample amount of investment products the online bank and broker offers more than make up for it.

Ally’s customer service is 24/7, their commissions are among the lowest in the industry, and their web-based trading platforms are robust and capable of handling the needs of most active traders.

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