Ally Invest IRA Review

Ally Invest Roth IRA, Traditional IRA, Rollover, SEP, Simple IRA (individual retirement accounts) review, promotion offer, rating, fees and commissions. Is Ally Invest IRA good and safe way to invest?

Ally Invest IRA Commissions
Stocks and ETFs $4.95 ($3.95 per trade if making 30+ trades per quarter or for $100,000 balances)
Options $4.95 + $0.65 per contract ($0.50 per contract if making 30+ trades per quarter or for $100,000 balances)
Mutual funds $9.95
Bonds $1 per bond with $10 minimum, $250 maximum
Treasuries commission-free
Certificates of Deposit (CDs) $24.95

Ally Invest IRA Accounts Offered
  • Roth IRA
  • Traditional IRA
  • Rollover IRA
  • Coverdell Education Savings Account (ESA)

Ally Invest IRA Fees

  • IRA set-up fee: $0
  • Annual IRA fee: $0
  • IRA termination fee: $50
  • Full transfer out: both a $50 transfer fee and a $50 termination fee
  • IRA conversion fee (regular to roth or vice versa): $50
  • Inactivity fee: $0

Opening An Account
To open an IRA account with Ally Invest, just follow their current promotion offer - Get $3.95 stock trades if you make 30+ trades per quarter or have 100K account balance. - than click on "Open My Account" button and you'll be taken to application forms which could be completed in about 10 minutes. Account could be opened with $0 down.

Ally Invest IRA Review

Ally Invest holds an interesting niche in the brokerage industry, and has positioned itself as a large-size but low-cost broker offering a high functionality website with a variety of tools for all investor experience levels. In particular, the Ally Invest IRA accounts have the versatility that modern investors are looking for, whether they are active traders, beginners, or simply long term investors. While at some companies IRA accounts are limited in the types of investments available, Ally Invest offers some vehicles and tools that others do not.

Ally Invest promotes itself through its pricing, which is the same for both regular and IRA accounts. They charge a flat $4.95 for all stock and ETF trades, with the same rate for options plus $0.65 per contract. Mutual funds cost just $9.95 per transaction. That is about as low as any discount broker, and this pricing continues to be at the center of their marketing and customer retention efforts.

Ally Invest's rate drops to just $3.95 per stock or ETF trade for customers making 30+ trades per quarter or those who have $100,000+ account balances. Option contracts in these cases are only 50 cents each.

If one is an active trader within the IRA account, the fee structure is attractive since commission costs will be low. They do have a chart on the site that shows standard fees for their competitors, with theirs as the lowest for any given type of trade. Few brokers can actually beat their price, and none of them can also equal or beat the features available at the Ally Invest's website.

Ally Invest received lots of awards from financial magazines: "4 out of 5 Stars" by Barron's Magazine in 2007-2016 broker survey, rated one of the best brokers for the last six years by (Ally Invest review), and in Smart Money magazines Annual Broker Survey for four years in a row the firm ranked first in Customer Service.

One of the best Ally Invest features is Trader Network which is a community of users where they share investing and trading ideas and learn the insights on stocks being traded heavily. Users can get opinions from professional traders on strategies, stocks, options, and other products. In addition, Ally Invest has apps to trade on Apple as well as Android smartphones. Both apps get high marks from the customers.

Ally Invest Mobile App

Ally Invest offers almost free individual retirement accounts with no IRA setup or annual IRA fees. The firm, however, charges $50 for IRA termination, IRA conversion and for full account transfer out. There are no trading platforms fees but the company has a surcharge of $0.01 per share on stocks priced under $2.

Ally Invest Website

Ally Invest has worked on its website in recent years, and has created a site that is intuitive and easy to use even for someone completely new to investing. From the start the security features are evident when one logs on to the account via a virtual keyboard to enter the password, and then is frequently prompted to answer a set of pre-set security questions. Once logged in, the account page pops up, and shows all current positions, balances, profit and losses to date, and any relevant expiration data if there are open options positions.

Ally Invest ROTH IRA Review: Home Page

The newest part of their website offering is Ally Invest LIVE, which is a platform that displays live streaming data during market hours on any stock, bond, option or ETF available. Customers can place trades directly on the platform while viewing current market changes, and there are drop down menus for research tools as well as option chains.

The real time data display in charts can be configured from one day to ten years, and the platform switches between timeframes quickly and smoothly. If compared to a similar platform offered by TD Ameritrade (review) it really stands out, as the latter is slow to load, freezes when you change chart symbols and has a cumbersome scrolling function to view option chains.

Customer Service

The broker offers quick turnaround on calls; the hold times are kept to a minimum and there is no endless list of menu options when a person calls into Ally Invest. Clients also have the option of talking to a customer service representative online through online chat feature. Emails are answered within two hours during business hours and within 24 hours during the weekend.

The Good

Hard to beat pricing. Peace of mind of being with one of the six largest brokerage houses in the U.S. which is now owned by the online banking giant Ally Bank. Great investor community. Highly rated customer service. Thanks to recent merger with MB Trading, Ally Invest will soon offer one of the best trading platforms on the market with all the features and tools that professional traders use as well as virtual trading, access to futures market, and more advanced orders.

The Bad

Ally Invest only offers after-hours trading from 4:00 pm to 5:00 pm EST instead of 4:00 pm to 8:00 pm EST. Further, Ally Invest banking services (checking, debit card) right now come with fees, but this will hopefully change once Ally Bank takes over ownership.


Investors could open a retirement account at the company with no money down and majority of them will never have to pay any account fees. Ally Invest attracts customers with the lowest pricing among large brokerage houses. It retains customers by offering them great customer service, easy-to-use and well-designed website, engaging and helpful trader community, and rich selection of investment products.

Open Ally Invest IRA Account

Get $3.95 stock trades if you make 30+ trades per quarter or have 100K account balance.

Ally Invest

Article was updated on 5/18/2017.

Ally Invest reviewed by on . Rating: 5
Copyright ©2009-2017 All rights reserved. has relationships with other firms. See Terms of Use.