ALLY INVEST REVIEW 2023: SHOULD YOU SIGN UP WITH THIS BROKER? 1.2/5Ally started in 2016. Min. deposit $0 Website address https://www.ally.com Demo account No Currency USD Supported languages Eng Active Yes Payment Methods Wire Transfer Instruments ForexOptionsStocks Min. trade price – Regulated By FINRASEC MetaTrader 4 No MetaTrader 5 No cTrader No OmniTrader No AlgoTrader No TradingView No Trading Central No Autochartist No eSignal No STP Account No ECN Account No DMA Account No MAM Account No PAMM Account No LAMM Account No Demat Account No Mobile Apps iOS & Android Margin Trading Yes Volatility Index No Spot Trading No Perpetual Swaps No ELWs No REITs No AI / Machine Learning No Robo Advisor No P2P Trading No Negative Balance Protection No VPS Hosting No Tournaments No Demo Competitions No Managed Accounts No Market Maker No Auto Trading No Social Trading No Copy Trading No Trade Signals No Islamic Account No Guaranteed Stop Loss No Forex Trading Ally Invest offers forex trading in over 80 major, minor and exotic currency pairs. Forex GBPUSD Spread 1 Forex EURUSD Spread 1 Forex EURGBP Spread 1 Forex Assets 80 Crypto Lending No Crypto Staking No Crypto Mining No Crypto Auto Market Maker No Ladder Options No Boundary Options No Show all >>* The amount that will be credited to the account in the case of a successful deal*General Risk Warning: Your capital might be at riskMin. deposit1$Min. trade price0.01$Website addresshttps://www.ally.comDemo accountNoCurrencyUSDSupported languagesEngActiveYes * The amount that will be credited to the account in the case of a successful deal Trustpilot Real Time Reviews The Trustpilot rating is 1.2, according to 410 reviews Amy God Bless us I had a car loan since end 2018, with Ally. They didn't make me pay my loan during COVID-19 lock downs. They have been perfect, never ANY stress or Any issue regarding ANYTHING. Stress free experience. Highly recommend. I'll miss y'all. If only other companies were as simple.View all Holty us Just received a letter from them with multiple options of how to fund my account even after funding no back has such good service.View all Alanator gb Applied for an auto loan, received it after being rejected by other because of a "thin" credit record. I gave it 4 stars, but want to add a couple of constructive comments about the website and operations: 1) Need to display the customer name on the customer pages on the website. 2) When a dealer requests a letter of outstanding balance to be paid off, in today's fast-paced world, it needs to be generated immediately, and e-mail should be an option, who uses fax machines these days, they are simply passé.View all Holty us Just opened an account with them very smooth and easy process.View all Darin D us Any financial company that sells (the property product at the lowest/least price it can recover ) that it insured when it is surrendered back by its customers is a losing value to investors. Better to hold out/ hold onto and resell at or near the market value . Undercutting your own financial value bottom line basically is a fast pathway to bankruptcy. They would show more respect and responsibility by getting a better price for the client and themselves. Return customers is the game of the futureView all George Black us I am a senior and retired business owner. Ally is an excellent bank. Customer service is top knitch and they have all sorts of financial intruments and mortgages at a lower rate than most. Only issue I had is YOU CANNOT CHANGE YOUR DEBIT CARD PIN ONCE IT IS SET. Crazy huh? They will keep giving oyou a number( over and over) to call to change your pin but that number only performs initial activation and not changing PIN. So if you really, really need to change your pin you hacve to get en entire new card. Nuts.View all Load more Saqib Iqbal Author 11 min read Published: November 04, 2018 Updated: November 25, 2022 Views: 189Content WHAT IS ALLY INVEST? HOW DOES ALLY INVEST WORK? WHAT ARE ALLY INVEST’S TRADING ACCOUNTS? WHERE IS ALLY INVEST LOCATED? HOW TO DEPOSIT FUNDS IN AN ALLY INVEST ACCOUNT HOW TO CONTACT ALLY INVEST DOES ALLY INVEST OFFER PROMO CODES? DOES ALLY INVEST CHARGE TAX ON PROFITS? HOW DO I MAKE MONEY WITH ALLY INVEST? FAQsAlly Invest is one of the well-known investment platforms. It attracts plenty of people and provides plenty of investment options. Did you know Ally’s parent company started in 1919? Let’s find out everything about this broker.HOWES A DOLLY INVEST STAND OUT?Zero costs: With no trading fees, Ally Invest caters to beginners and pro traders.Ally Bank: Users of Ally Invest have direct access to Ally Bank, which provides various features and some of the best rates.Beginner-friendly platform: The trading platform’s extensive and intuitive design appeals to many traders.Promos: Ally provides some of the best promotional offers when you open an account. For individuals seeking an automated investment strategy, Ally Invest Robo Portfolios is a great choice.WHAT IS ALLY INVEST? Ally Invest is one of the reputable names in the investing world. If you’re looking for a broker with a solid reputation, Ally could be your choice. But hold on, let me tell you everything about Ally so you can decide. Let’s start, shall we?Ally Invest has a background story like any other broker. The company is a subsidiary of Ally Financial, Inc. Here’s a fact: Ally Financial started in 1919 as GMAC. The NYSE ticker symbol for Ally Financial is ALLY.In 2016, Ally Financial acquired TradeKing and rebranded it as Ally Invest. Ally Invest provides self-directed trading, automated investing and forex trading, and retirement savings accounts. It manages around $13.4 billion in assets and approximately 406,000 customer accounts.Ally Invest ohmepageThat’s a lot of numbers, I must say. In its annual review of online brokers, Kiplinger named Ally Invest as one of the best. There’s one thing I should add here. The platform is only available in the US. That’s a bummer for most people. However, I can say that if you open an account, you’ll be in safe hands, which brings me to the next section.WHO ARE ALLY INVEST’S REGULATORS?It’s great that the broker has got a history behind it. But as a trader, my concern is legitimacy. I’m talking about its regulators. Let’s find out if it’s legit. When you scroll to the bottom of the homepage, you can find the broker’s regulators. Ally Invest is regulated by various entities. It has licenses fromFINRA (Financial Industry Regulatory Authority)SIPC (Securities Investor Protection Corporation)SEC (Securities and Exchange Commission)The firm provides forex trading through NFA membership (National Futures Association).Ally Invest regulationsFurther reading FEATURES OF ISLAMIC ACCOUNTS FOR TRADING IN BINARY OPTIONS AND FOREX What Is Smooth Love Portion, and What Can You Do With It? How Сan Binary Options Brokers Cheat You? How to Read Candlestick Charts? (The Battle of 2 Species) 110 Trading Quotes to Set You on the Road to Success BDSwiss review of licensed forex brokerHOW DOES ALLY INVEST WORK? Ally Invest is good in terms of numbers and regulators. But what does the broker have to offer? Does it offer many different assets? Let’s find out!The company provides plenty of tradable options. It offers stocks, options, forex, ETFs, bonds, and mutual funds. To open a forex account, you must refer to the broker’s forex page. It is different from the main asset page. Let’s talk a bit about the assets.ForexGBP/USDEUR/USDUSD/CHFNZD/USDAUD/USD and 45 moreStocksApple IncNetflix IncBank of AmericaTesla IncAmazon, and moreETFsVanguardGlobal XiShares, and moreMutual FundsVanguard 500 IndexFidelity 500JP Morgan Market FundMorgan Stanley Inst and moreBonds US 10-Year and moreAlthough the broker doesn’t provide crypto trading, you can invest in crypto trusts, futures, and stocks.Ally Invest forex pageLike much of the industry, Ally Invest offers zero-dollar trading on stocks, options, and ETFs. Stocks valued at less than $2 per share, however, are subject to a fee of up to $4.95 + $0.01 per share. Bonds are available at a $1 cost, while mutual funds are available at $9.95 per trade.HOW DOES THE ALLY INVEST PLATFORM WORK?The platform was the best thing for me. It was super beginner-friendly. However, there are pros and cons. Here’s what you need to know about the platform. Ally Invest only provides a native platform. The platform is available on the web and mobile versions. Let’s talk about them.WEB PLATFORMMany traders may find Ally Invest’s tools and platforms lacking, yet the user interface is simple. The whole options trading process is on one page.You can view anything from symbols to the profitability calculator. In addition to hundreds of technical indicators (more on that in a moment) the platform includes 36 drawing tools.Ally web platformALLY MOBILE PLATFORMThe mobile app is a nice fit when you are on the go! You can monitor your portfolio using live quotations, trade equities, and multi-leg options.You can conduct technical analysis using charting tools and stay up-to-date on market events. While it lacks some of the capabilities of Ally’s web trading platform, it serves you well when you cannot be at your workstation.Ally mobile appWHAT TRADING INDICATORS ARE AVAILABLE?While trading, I combine technical and fundamental analysis. For technical analysis, I rely on many tools, like a Technical Summary Box. One of those tools is technical indicators. Ally Invest offers plenty of technical indicators. Some of the available indicators areRSIBollinger BandsMACDStochasticsMoving Averages, and many moreFurther reading ZENITH TRADING STRATEGY FOR BINARY OPTIONS CLM Forex (Core Liquidity Markets) - Broker Review Using a Stochastic Oscillator - the Basics How to Make a Sideways Trend Work for You: Trading Strategy Markets.com Reviews 2023: Is it The Most User-Friendly Trading Platform? IC Markets Broker OverviewWHAT ARE ALLY INVEST’S TRADING ACCOUNTS? There are plenty of account types available. I was excited to find out how many accounts are available. I could easily switch between those accounts. Let me explain what the account types are.Ally Invest offers self-directed trading accounts, robo portfolio accounts, and wealth management accounts. Let’s break down all these account types:1. SELF-TRADINGThis is the broker’s standard account. The self-trading account takes different forms:IndividualJointCustodialTraditional IRARoth IRARollover IRACoverdellYou can open a self-trading account with $0. Yes, it’s completely free.2. ROBO PORTFOLIOSIf you’re new to investing or don’t have the time to maintain your portfolio, an automated robo portfolio is a simple answer. It is a robo-advisor that will invest and manage your portfolio for you depending on your objectives. A robo portfolio comes in the following types:IndividualJointTraditional IRARoth IRARollover IRATo start an account, you must have a minimum balance of $100. Robo portfolio charges no additional fees.Robo Portfolio account3. WEALTH MANAGEMENTThe wealth management account comes with all sorts of perks and features. You get a dedicated advisor and a priority customer support service. I haven’t opened a wealth management account yet with any firm.But I think it’s good for specific goals, whether it is to increase wealth, save for retirement, or plan for a certain milestone. It also has different typesIndividualJointCustodialTrustTraditional IRARoth IRARollover IRABeneficiary Roth IRABeneficiary IRACoverdellTo open the account, you need $100,000. You’ll also face an advisory fee of 0.85% annually.Wealth management accountDOES ALLY INVEST OFFER A DEMO ACCOUNT?Want to get a feel for the market before investing a large sum? Unfortunately, you can’t do that with Ally Invest. The broker doesn’t offer a demo account. Why?They have a $0 minimum deposit; why would they offer a demo account? However, there’s good news. You can get a $50,000 practice account if you want to trade forex.HOW SAFE IS ALLY INVEST?When selecting any broker, safety should be your priority. You don’t want to risk anything. So, what about Ally’s safety? Should you trust it?Being regulated by top regulatory bodies makes Allly a safe broker. Also, Ally stores its funds in the Ally Bank. Ally Bank is FDIC-insured, so your funds are secure. It means that if the bank goes out of business, your savings in Ally deposit accounts of up to $250,000 are protected.Further reading IronFx - trading platform overview What Is an Option BDSwiss review of licensed forex broker Exness Review: A Top-Notch Forex Broker and the Official Partner of Real Madrid CumRocket, The Naughty Boy Of Cryptocurrencies TD Ameritrade review 2023: should you sign up with this broker?WHERE IS ALLY INVEST LOCATED? The location of the broker adds to its legitimacy. But where can I find Ally? Does Ally Invest have various offices or a single location? Let’s explore!Ally Invest’s office address is PO Box 30248 Charlotte, NC 28230. Ally Invest locationWHO OWNS ALLY INVEST?Let me now put your memory to the test. Do you know who owns Ally Invest? I talked about it earlier. Can you guess? Ally Financial Inc. is the parent company of Ally Invest.Further reading City Index: Review & Trader Feedback of the UK Platform OptionsHouse by E*Trade - overview of the trading platform EXANTE BROKER REVIEW 2023: FEES AND BENEFITS What Is AdvCash Or An Off-shore Payment Card Alternative Review of the OctaFX Forex and CFD Broker OvalX Review - What You Need to Know (formerly ETX Capital)HOW TO DEPOSIT FUNDS IN AN ALLY INVEST ACCOUNT The first time I deposited funds, it was through a bank transfer. But that was a long time ago. What are other methods available? Let’s find out!There are five ways to fund your account. They are:Debit/credit cards (only for forex accounts)ACH transferWire transferCheckTransfer from other brokersDebit/credit card is the fastest method but it is only available for forex accounts. Wire transfers usually take a few hours. All other methods take 5-7 days.HOW TO WITHDRAW FUNDS FROM AN ALLY INVEST ACCOUNTAre the withdrawal methods the same on Ally Invest as deposit methods? Are there any additional fees?I’ll answer these questions here. Let’s find out more. Ally Invest offers the following withdrawal methods:Debit/credit cards (only for forex accounts)ACH transferWire transferBy checking in and choosing Transfers, you may request a transfer. You may also transfer cash to another account for $30 or request a check for $5. For an additional $50, you can order an overnight check by phone.Ally payment methodsFurther reading eOption review 2023: should you sign up with this broker? E-Trade feedback on the trading platform WELTRADE review 2023: should you sign up with this broker? Gerchik & Co - overview of forex trading platform 110 Trading Quotes to Set You on the Road to Success Binarium Review and Feedback on the Binary Options BrokerHOW TO CONTACT ALLY INVEST I told you the story of what happened when I phoned Ally. It was a bad experience. But let me tell you how you can contact the broker. So, if you need any assistance, it’ll be helpful.There are several ways to contact Ally. It depends on which of the company’s departments you wish to reach. Ally Invest is part of all the contacts.Bank 1-877-247-2559Open 24/7Home Loans 1-855-256-2559Invest 1-855-880-2559Open 24/7You can also contact them through social media.Further reading How to Trade Trend Channels and Ranges (Rising, Falling and Sideways Price Channels) OptionClub review 2023: should you sign up? What Is Elrond and How to Use This Crypto Wallet? Etoro Review: A CFD and Forex Broker with a Social Trading Opportunity IronFx - trading platform overview Free Online Interactive Binary Options Charts and Why You Should Use ThemDOES ALLY INVEST OFFER PROMO CODES? Ally Invest offers generous promotions to its users. I mean, they want to build a loyal fan base. I benefited from these promotions as well. So, let me tell you what options you have available.Ally offers some of the biggest promotions. The broker pays you to move to it from another broker. That’s a good marketing strategy.Ally pays you $150 for changing your broker. However, you have to deposit $2,500 into your Ally Invest account.DOES ALLY INVEST OFFER BONUSES?I’m sure you love free offers. Bonuses are part of Ally Invest free offers. But what options does Ally provide? Let’s find out!The broker provides a bonus on your initial deposit. It can range from $100 to $3,000. To be eligible for the bonus, you need to:Open a self-directed accountMake a $10,000 initial depositAlly Invest bonus pageFurther reading Etoro Review: A CFD and Forex Broker with a Social Trading Opportunity FXTM (Forex Time): A Detailed Review of a Forex Broker with over 4 million users CMC Markets - Advanced Trading Platform Review EXANTE BROKER REVIEW 2023: FEES AND BENEFITS Uncovering the Benefits of Dukascopy Swiss Forex & CFD Brokerage Orbex Broker OverviewDOES ALLY INVEST CHARGE TAX ON PROFITS? Taxes are part of what we do as traders. Fortunately, Ally Invest provides you with proper tax info.So, what can you expect from Ally? Let’s see!Ally Invest doesn’t charge taxes on profits. You can read more about those taxes here.Further reading Full Review of Spectre.ai: Low-Risk, (Decentralized) Broker Swissquote review 2023: should you sign up with this broker? How to Read Candlestick Charts? (The Battle of 2 Species) Binary.com review 2023: Is it worth it? FreshForex Review: Is FreshForex Ideal for Forex and CFD Trading? Trader's diary. Why and for what you need it? HOW DO I MAKE MONEY WITH ALLY INVEST?Initially, I opened my account with Ally Invest in 2013. Back then, it had a different name (I’ll go into more details later). I had an account with Ally until recently. I used to love the platform, as it offered me low-cost trading.However, I’ve seen its customer service deteriorate in recent years. Waiting times have increased. I waited about 30 minutes the last time I phoned them.After a brief wait to talk with someone, I was informed that their system was down. That’s not cool! Let’s see what others say:Further reading OptionClub review 2023: should you sign up? CumRocket, The Naughty Boy Of Cryptocurrencies What Is an Option What Is Smooth Love Portion, and What Can You Do With It? Orbex Broker Overview IG review 2023: should you sign up with the broker? FAQsCan I day trade on Ally Invest?Yes, you can, but there is a catch. If your account goes below the $25,000 minimum, you will be unable to day trade until you replenish it.Is Ally Invest the same as Ally Bank?Ally Invest and Ally Bank are two separate departments of Ally Financial Inc. Ally Invest is for trading, while Ally Bank is part of the company’s fintech. If you open a trading account on Ally Invest, you can get an Ally Bank account.Is Ally good for Roth IRA?Ally Invest is not as popular as Fidelity and Vanguard, two other major IRA providers. However, it is worth considering. Ally Invest boasts some of the industry’s lowest trading costs.How long does it take for Ally Invest to settle funds?Stock trades settle in two business days from the date, whereas options trades settle in one business day. You can still sell a position bought with unsettled money before settlement and accept the freeride limitation if necessary.Does Ally Invest charge inactivity fees?Ally Invest does not impose an inactivity fee, which is helpful because your account will not be charged even if you do not trade for an extended period.FINAL THOUGHTSThere you have it! We went into the depths of Ally Invest. For me, Ally Invest shines in the areas of assets, safety, and educational and research tools.The broker could improve on customer support and platforms, however.So, I’ll give it a 4/5. I hope this review was informative and time-saving for you. If you are looking for forex brokers other than Ally Invest, you can check the complete list of brokers here.Visit »It is one of the best international brokers. Different types of assets, convenient and reliable platform, favorable trading conditions. Want to know more? Click here.Further reading How to Trade Trend Channels and Ranges (Rising, Falling and Sideways Price Channels) NordFX - Reviews And Forex Trading Platform Review Orbex Broker Overview Admiral Markets - Overview & Customer Ratings of the Broker What Is Flare Network and What Does It Do? 10TRADEFX REVIEW 2023: IS IT WORTH IT?