What is Ally Invest?
Ally Invest is an online brokerage platform that offers trading in stocks, options, ETFs, and other investment products. It is part of Ally Financial, which is known for its banking and financial services.
When Did It Start Operating?
Ally Invest began operating in 2001 as TradeKing, and it was rebranded to Ally Invest in 2016 after Ally Financial acquired TradeKing.
Where Is Its Headquarters?
The company is headquartered in Charlotte, North Carolina, USA.
In Which Countries Is It Restricted?
Ally Invest primarily serves clients in the United States. It may have restrictions in other countries due to regulatory compliance.
Advantages:
- Low Fees: Offers competitive pricing, with zero commissions on stocks and ETFs.
- User-Friendly Platform: Provides a robust and easy-to-navigate trading platform.
- Research Tools: Offers extensive research and educational resources for traders.
Disadvantages:
- Limited International Access: Primarily available to U.S. residents, which may limit options for international traders.
- No Cryptocurrency Trading: As of now, Ally Invest does not offer trading in cryptocurrencies.
Which Instruments Can I Trade?
Ally Invest allows trading in:
- Stocks
- Options
- Exchange-Traded Funds (ETFs)
- Mutual Funds
What Is the Trading Fee?
- Stocks and ETFs: $0 commission per trade.
- Options: $0 commission, plus $0.50 per contract fee.
Does It Allow Scalping?
Yes, Ally Invest allows scalping, making it suitable for traders who engage in high-frequency trading strategies.
Is There a Trading Platform?
Yes, Ally Invest offers its own trading platform, as well as access to the Ally Invest mobile app for trading on-the-go.
Is Margin Trading Available?
Yes, Ally Invest provides margin trading options, allowing traders to leverage their positions. Margin rates may vary, so it’s advisable to check their official site for specifics.
