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Ally Invest vs E*TRADE Comparison Review

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

QueryAlly InvestE*TRADE
Number of users (approximate)388K7.1m
Website traffic (estimated)16m28.7m
# results on web50m2bn
Search volume Google70K673K
Twitter followers43K73.5K
FB followers342K158K
How popular on mainstream media?MediumHigh
Negative media?LowMedium
Notable awardsNone, but Ally Bank has consistently received awardsBest 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

QueryAlly InvestE*TRADE
# users rated on user platforms60 on TrustPilot, 1 on SiteJabber35 on TrustPilot, 107 on SiteJabber
Percentage of positive reviews out of user reviews7%20%
Common complimentsHelpful and secure.Fantastic trading platform, fast and reliable.
Common complaintsUnreliable 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 buggyLong waiting times for support and recurring downtime.
App rating (summary)Almost 100 reviews with an average rating of 2.35 / 5130K 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

QueryAlly InvestE*TRADE
Company public/privatePublicPublic
Revenue Data–$3.145B annual revenue for 2019
CEO and bioJeffrey 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 employees87004,000
Notable investors (private companies)NoneE*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

QueryAlly InvestE*TRADE
HTTPS CertificateYesYes
2FA ?YesYes
Device monitoring?YesYes
New device extra security?YesYes

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

QueryAlly InvestE*TRADE
Account minimumNoneNone
Account fixed feesNoneNone
Fractional shares?YesNo
Margin costsVariesVaries
ETF buying feesNoneNone
Stock buying feesNoneNone
Option buying fees$0.50$0.50
Short selling feesNoneNone
Futures buying feesNone$1.50
Future options buying fees–$1.50
Cryptocurrency feesNot availableNot available
Fixed income feesNone$1 per bond
Mutual funds feesNoneNone

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

QueryAlly InvestE*TRADE
Android app # installs5K+1m+
Android app # reviews1814K
iPhone app # reviews78113K
Android app rating2.3 / 53.7 / 5
iPhone app rating2.4 / 54.6 / 5
Common compliments on appApp is responsive and fast.The app is user friendly, easy to navigate and make trades
Common complaints on appApp crashes a lot.Several log-in attempts before logging in
Weighted average app rating2.35 / 54.15 / 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.

Final conclusions:

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.

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