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Ally Invest vs Robinhood Comparison Review

If you are in search of a new broker and can’t decide between these two companies, we can help you by showing all the important information and stats in this Ally Invest vs Robinhood comparison review.

Ally Invest vs Robinhood: Popularity

QueryAlly InvestRobinhood
Number of users (approximate)388K13m
Website traffic (estimated)16m42.6m
# results on web50m29.7m
Search volume Google70K40k
Twitter followers43K196k
FB followers342K163k
How popular on mainstream media?MediumHigh
Negative media?LowHigh
Notable awardsNone, but Ally Bank has consistently received awardsMost innovative company by Fast Company (2015), Top 50 by Fast Company (2016)

Robinhood has been in the public eye a lot lately and that buzz around the brand has allowed it to grow exponentially in the COVID-19 pandemic period. Comparing its 13 million customers to Ally Invest’s 388,000, the winner is clearly Robinhood.

Ally Invest vs Robinhood: User Rating

QueryAlly InvestRobinhood
# users rated on user platforms60 on TrustPilot, 1 on SiteJabber77 on TrustPilot, 46 on SiteJabber
Percentage of positive reviews out of user reviews7%20%
Common complimentsHelpful and secure.Great design and user interface, good app
Common complaintsUnreliable customer service.Poor customer service, difficult to communicate with, not trustworthy
Positive feedback on Twitter?Great research and tools.Constant inflow of positive comments
Negative feedback on Twitter?The app is buggyNo complaints over the past 14 days
App rating (summary)Almost 100 reviews with an average rating of 2.35 / 54.6 / 5

Even though neither one has a great score on the feedback sites online, there is a considerable advantage for Robinhood. Both in terms of positive percentage and the number of reviews.

Ally Invest vs Robinhood: Background Information

QueryAlly InvestRobinhood
Company public/privatePublicPrivate
Revenue Data–180m on Q2 of 2020
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.Vladimir Tenev, Standford graduate, left his PhD in maths for Robinhood. Prior to Robinhood, he created a high frequency trading company.
Number of employees87001,281
Notable investors (private companies)NoneSEQUOIA, Index Ventures, CapitalG, Andreessen Horowitz, Thrive Capital

Both companies are relatively young and both are growing rapidely. One is private but backed by big names as investors. The other is public and part of a huge banking institution. Only time will tell who will become the more profitable one.

As of today, we only have revenue data for Robinhood so we can’t name a winner in this section of the comparison.

Ally Invest vs Robinhood: Security

QueryAlly InvestRobinhood
HTTPS CertificateYesYes
2FA ?YesYes
Device monitoring?YesYes
New device extra security?YesYes

Ally Invest vs Robinhood: Fees & Offering

QueryAlly InvestRobinhood
Account minimumNoneNone
Account fixed feesNoneNone
Fractional shares?YesYes
Margin costsVaries5% per day
ETF buying feesNoneNone
Stock buying feesNoneNone
Option buying fees50¢ per contract tradedNone
Short selling feesNoneNot available on robinhood
Futures buying feesNoneNot available on robinhood
Future options buying fees–Not available on robinhood
Cryptocurrency feesNot available1% on buying, 5% on selling
Fixed income feesNoneNot available on robinhood
Mutual funds feesNoneNot available on robinhood

The only way to choose a winner for this section is to know what tools you want to use. Both have pros and cons.

If you are only using stocks and cryptocurrencies, you better choose Robinhood. But if you are not interested in trading crypto but more on the futures market, the choice is Ally Invest.

Ally Invest vs Robinhood: Trading App

QueryAlly InvestRobinhood
Android app # installs5K+10m+
Android app # reviews18155k
iPhone app # reviews782m
Android app rating2.3 / 54.3 / 5
iPhone app rating2.4 / 54.8 / 5
Common compliments on appApp is responsive and fast.Smooth app, easy for beginners, free stock promotion, low fees
Common complaints on appApp crashes a lot.Slow, laggy, freezing upon high activity
Weighted average app rating2.35 / 54.6 / 5

When we talk about mobile apps, unfortunately for Ally Invest, there is no competition. The Robinhood app is the clear winner on every single category.

Final conclusions:

Robinhood caters for the more younger audience who want to invest from the comfort of their phone and don’t need a lot of investing instruments. Ally Invest, on the other hand, is more for brokers with experience that maybe also bank with its parent company Ally.

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