Ally Invest is a new broker on the market considering it spurs from the acquisition of the TradeKing broker in 2016. In this Ally Invest review, we will show you how this investment company grew up to this point by providing stats and background information for all the important aspects of the business.
Not a particular popular broker as of yet, Ally Invest is still working in attracting new customers.
|Number of users (approximate)||388K||https://www.ally.com/about/company-structure/||26 Aug 2020|
|Website traffic (estimated)||16m||https://www.similarweb.com/website/ally.com/||26 Aug 2020|
|# results on web||50m||https://www.google.com/||26 Aug 2020|
|Search volume Google||70K||https://searchvolume.io||26 Aug 2020|
|Twitter followers||43K||https://twitter.com/ally||26 Aug 2020|
|FB followers||342K||https://www.facebook.com/ally||26 Aug 2020|
|How popular on mainstream media?||Medium||Benzinga, Business Insider, Forbes, CBNBC, MarketWatch||26 Aug 2020|
|Negative media?||Low||https://www.consumerfinance.gov/about-us/newsroom/cfpb-and-doj-order-ally-to-pay-80-million-to-consumers-harmed-by-discriminatory-auto-loan-pricing/||26 Aug 2020|
|Notable awards||None, but Ally Bank has consistently received awards||https://media.ally.com/awards-recognition||26 Aug 2020|
Only a handful of ratings online and the overall consensus is that Ally Invest still has a lot of areas to work on.
Ally Financial (the parent company) has bought TradeKing in 2016 and redirect it’s business to Ally Invest.
|CEO and bio||Jeffrey J. Brown – Prior to being named CEO, Brown was president and CEO of Ally’s Dealer Financial Services business where he oversaw the company’s auto finance, insurance and auto servicing operations.||https://media.ally.com/leadership-brown|
|Number of employees||8700||https://en.wikipedia.org/wiki/Ally_Financial|
|Notable investors (private companies)||None||https://www.crunchbase.com/organization/ally-bank|
|New device extra security?||Yes||https://www.ally.com/security/password-security-tips.html|
Fees & Offering
Since 2019, Ally Invest has joined the zero commissions movement on U.S. exchange-listed stock, ETF, and option trades.
|Account fixed fees||None||https://www.ally.com/help/invest/opening-an-account.html|
|ETF buying fees||None||https://www.ally.com/go/invest/commissions-and-fees/|
|Stock buying fees||None||https://www.ally.com/go/invest/commissions-and-fees/|
|Option buying fees||50¢ per contract traded||https://www.ally.com/go/invest/commissions-and-fees/|
|Short selling fees||None||https://www.ally.com/go/invest/commissions-and-fees/|
|Futures buying fees||None||https://www.ally.com/go/invest/commissions-and-fees/|
|Future options buying fees||–||–|
|Cryptocurrency fees||Not available||–|
|Fixed income fees||None||https://www.ally.com/go/invest/commissions-and-fees/|
|Mutual funds fees||None||https://www.ally.com/go/invest/commissions-and-fees/|
The Ally Invest app is not used by many considering it has 5K+ downloads on the Android app store. The bigger problem is that the vast majority concluded that the app is subpar in many aspects.
|Android app # installs||5K+||https://play.google.com/store/apps/details?id=com.ally.investforex|
|Android app # reviews||18||https://play.google.com/store/apps/details?id=com.ally.investforex|
|iPhone app # reviews||78||https://apps.apple.com/us/app/ally-invest-forex/id1385692078|
|Android app rating||2.3 / 5||https://play.google.com/store/apps/details?id=com.ally.investforex|
|iPhone app rating||2.4 / 5||https://apps.apple.com/us/app/ally-invest-forex/id1385692078|
|Common compliments on app||App is responsive and fast.||https://play.google.com/store/apps/details?id=com.ally.investforex|
|Common complaints on app||App crashes a lot.||https://play.google.com/store/apps/details?id=com.ally.investforex|
|Weighted average app rating||2.35 / 5||https://play.google.com/store/apps/details?id=com.ally.investforex|
Overall, Ally Invest has some more work to do in order to compete with the big names in this business. But considering the good reputation that its parent company has, especially because of Ally Bank, the future might be bright for the investment branch.