We created this Ally Invest vs E*TRADE comparison review to help our readers decide with which broker to go. Both are good choices, so a head to head comparison between Alli Invest and E*TRADE is needed to make the final decision.
Ally Invest vs E*TRADE: Popularity
|Number of users (approximate)||388K||7.1m|
|Website traffic (estimated)||16m||28.7m|
|# results on web||50m||2bn|
|Search volume Google||70K||673K|
|How popular on mainstream media?||Medium||High|
|Notable awards||None, but Ally Bank has consistently received awards||Best Web Platform 2020, Best Online Brokers 2019|
E*TRADE is the more established and bigger broker with a huge number of customers compared to Ally Invest. Also their media exposure is higher with a bunch of niche and news outlets awarding them for their platform.
Ally Invest vs E*TRADE: User Rating
|# users rated on user platforms||60 on TrustPilot, 1 on SiteJabber||35 on TrustPilot, 107 on SiteJabber|
|Percentage of positive reviews out of user reviews||7%||20%|
|Common compliments||Helpful and secure.||Fantastic trading platform, fast and reliable.|
|Common complaints||Unreliable customer service.||Customer service is terrible sometimes.|
|Positive feedback on Twitter?||Great research and tools.||Good and easy to use platform|
|Negative feedback on Twitter?||The app is buggy||Long waiting times for support and recurring downtime.|
|App rating (summary)||Almost 100 reviews with an average rating of 2.35 / 5||130K reviews with an average rating of 4.15 / 5|
The feedback online is another area where E*TRADE has the upper hand. Has a better positive percentage and a big difference in number of reviews
Ally Invest vs E*TRADE: Background Information
|Revenue Data||–||$3.145B annual revenue for 2019|
|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.||Mike Pizzi – Over 12 years working in the company where he was also the CFO and Chief Risk Officer|
|Number of employees||8700||4,000|
|Notable investors (private companies)||None||E*TRADE was acquired by Morgan Stanley for $13B on Feb 20, 2020.|
Both companies are public but we only found revenue data for E*TRADE so we can’t compare them on this aspect. But we can see that Ally Invest is the employer for a bigger number of people.
Ally Invest vs E*TRADE: Security
|New device extra security?||Yes||Yes|
The standard features are available on both platforms so you can rest assure that your money are safe with them.
Ally Invest vs E*TRADE: Fees & Offering
|Account fixed fees||None||None|
|ETF buying fees||None||None|
|Stock buying fees||None||None|
|Option buying fees||$0.50||$0.50|
|Short selling fees||None||None|
|Futures buying fees||None||$1.50|
|Future options buying fees||–||$1.50|
|Cryptocurrency fees||Not available||Not available|
|Fixed income fees||None||$1 per bond|
|Mutual funds fees||None||None|
Very similar in their fee structure, especially for the most commonly used tools. The only difference is the futures market where E*TRADE has fees and Ally Invest doesn’t.
Ally Invest vs E*TRADE: Trading App
|Android app # installs||5K+||1m+|
|Android app # reviews||18||14K|
|iPhone app # reviews||78||113K|
|Android app rating||2.3 / 5||3.7 / 5|
|iPhone app rating||2.4 / 5||4.6 / 5|
|Common compliments on app||App is responsive and fast.||The app is user friendly, easy to navigate and make trades|
|Common complaints on app||App crashes a lot.||Several log-in attempts before logging in|
|Weighted average app rating||2.35 / 5||4.15 / 5|
Ally Invest seems to not be interested in their clients using the trading app if we guide our opinion from the app stores reviews and number of downloads. E*TRADE is the clear winner here. No debate needed.
Overall, seems like clear winner from this Ally Invest vs E*TRADE comparison is the latter. E*TRADE is more present in the market and has been for a long time, and that is clearly shown by its brand recognition in online.