Ameritrade Vs Ally – Which Institution Is Better?

Are you looking for the best online broker to start your investing journey? If so, you’ve probably heard of Ameritrade and Ally – two of the most popular options on the market. But which one is right for you? In this article, we’ll compare Ameritrade vs Ally to help you decide which institution is better.

When it comes to stock trading and brokerages, Ameritrade and Ally are two of the biggest names in business. Established in 1983, Ameritrade has been a leader in the industry for over 35 years. On the other hand, Ally has only been around since 2005 but has quickly become a major player with its innovative technology and customer service-focused practices.

So what sets these institutions apart? Read on to find out how Ameritrade vs Ally stack up when it comes to fees, services, trading platforms, customer support and more!

Overview Of Ameritrade And Ally

Ameritrade and Ally are two well-known online brokers. Ameritrade has been around since 1975, while Ally is relatively new to the online brokerage scene, launching its services in 2009. Both companies offer investments in stocks and mutual funds, as well as retirement planning services and trading options. They also both provide access to trading tools and resources to help investors make informed decisions.

Ameritrade offers a wide variety of accounts, including traditional brokerage accounts, IRA accounts, joint accounts, trust accounts, custodial accounts, and more. It also offers several research tools such as real-time stock quotes, market analysis reports, and portfolio management software. Furthermore, Ameritrade provides access to an extensive library of videos covering trading strategies and techniques.

Ally is known for its competitive pricing structure and user-friendly platform. It offers a variety of account types such as individual brokerage accounts, joint accounts, Roth IRAs, SEP IRAs, trusts/custodial accounts and more. Ally’s platform features charts that allow users to analyze stocks in real time with technical indicators like moving averages or Bollinger bands. Additionally it provides educational materials such as webinars and tutorials on topics such as portfolio creation and risk management strategies.

Both Ameritrade and Ally offer excellent service for investors looking for a reliable broker with low fees and great features. Ultimately though it comes down to personal preference when deciding which one is better for you.

Trading Platform Comparison

When it comes to trading platforms, Ameritrade and Ally both offer a wide range of options for traders. Ameritrade’s platform has a more advanced set of tools and features, including real-time data, charting capabilities, stock scanners and the ability to view Level II quotes. It also offers its customers access to futures and options markets. Ally’s platform is simpler in comparison, but still provides the basics such as charting capabilities, news feeds and research tools. Ally also has a mobile app that allows traders to access their accounts on the go.

In terms of fees, both institutions have competitive rates for most types of trades. However, Ameritrade may be better suited for high volume traders due to its lower commission fees compared to Ally. Plus, Ameritrade’s platform offers more advanced features such as margin trading and complex order types that are not available with Ally’s platform.

Overall, both institutions provide their customers with reliable trading platforms that meet different needs for different types of traders. While Ameritrade may be better suited for those looking for advanced trading tools and lower fees, Ally is an excellent option for those who prefer a simpler experience and easy access to their accounts via a mobile app.

Account Types Offered

Both Ameritrade and Ally offer a range of accounts for their customers. Ameritrade offers individual, joint, Roth IRA, traditional IRA, SEP IRA, rollover IRA, trust accounts and custodial accounts. These can all be used to trade stocks and ETFs online. Ally offers individual or joint investment accounts as well as retirement accounts like traditional IRAs, Roth IRAs and SEP IRAs. Both companies have access to thousands of mutual funds and no-transaction-fee funds. Additionally, they both offer managed portfolios which make investing easier by taking care of the entire process for you.

Ameritrade offers free stock trades on stocks and ETFs that are not part of their no-transaction-fee program. They also don’t charge any account maintenance fees but do impose an inactive account fee if your account is inactive for more than 12 months. Ally does not charge any inactivity fees or maintenance fees but only offers commission-free stock trades if you opt for their Automated Investing plan.

Overall, both Ameritrade and Ally offer a range of accounts with easy access to thousands of mutual funds and ETFs at reasonable prices. Customers should weigh the differences between the two institutions in order to determine which one best fits their needs when opening an account.

Fees And Commission Structures

When considering fees and commission structures, Ameritrade and Ally have a few similarities. Both offer low commissions for stock, options, and ETF trades. They also both don’t charge inactivity fees or account maintenance fees. However, there are some differences between the two institutions when it comes to fees and commission structures.

Ameritrade charges an additional fee of $0.75 per options contract while Ally does not. Additionally, Ameritrade requires at least $1,000 to open an account and $2,000 to get margin privileges; these numbers are slightly lower with Ally at $500 for an account opening balance and $1,500 for margin privileges. Finally, if you’re looking to buy mutual funds then Ameritrade is the better option with over 4,200 funds available compared to only 2,300 mutual funds on Ally Invest’s platform.

In summary, when it comes to fees and commission structures there are some similarities between Ameritrade and Ally but there are also some distinct differences that need to be taken into consideration before deciding which institution is right for you.

Customer Service And Security Features

When it comes to customer service, both Ameritrade and Ally offer a wide variety of options. Ameritrade offers access to their customer service team through phone, email and live chat. They also provide several online resources such as tutorials, webcasts, video library and webinars. Ally’s customer service includes phone support, email support and an online knowledgebase with FAQs. Both companies offer 24/7 customer service for any inquiries or concerns you may have about your accounts.

The security of your account is also important when choosing an online brokerage firm. Ameritrade utilizes sophisticated encryption technology to protect its customers’ data. They also provide two-factor authentication and secure passwords for added protection. Ally offers a similar level of security with their advanced encryption system as well as secure logins and passwords. Additionally, they have a dedicated fraud department that monitors suspicious activity on their accounts.

Both Ameritrade and Ally have reliable customer service teams and strong security features that make them excellent choices for investing online. Their state-of-the-art technology ensures the safety of your funds while providing access to knowledgeable representatives when needed. With these features in place, you can be sure that your money is safe regardless of which institution you choose for your investing needs.

Final Verdict

It’s time to draw a conclusion. Both Ameritrade and Ally offer excellent customer service and security features, but which institution is better? To answer that question, it’s important to consider other factors such as fees and account types.

Ameritrade offers a wide variety of accounts, including individual retirement accounts (IRAs) and margin accounts. The company also offers low trading fees and a generous selection of mutual funds. On the downside, its IRA account has an annual fee of $75, although this is waived for customers who maintain a minimum balance of $10,000 or more.

Ally’s fees are slightly lower than Ameritrade’s. It offers four different types of accounts: IRAs, Roth IRAs, custodial accounts for children and regular investment accounts. The company also charges no annual fee for its IRA account, but unlike Ameritrade it does not offer any mutual funds or margin accounts.

It really boils down to what type of investor you are. If you’re looking for an all-in-one investment platform with low fees, then Ameritrade may be the best option for you. But if you’re only interested in stocks and ETFs with no annual fees, then Ally could be the right choice. Ultimately, the decision rests with you to decide which institution fits your needs best.


In conclusion, when considering Ameritrade and Ally, it’s important to compare their platforms, account types, fees and commissions, and customer service and security features. After assessing all of these factors, we can come to a final verdict.

Overall, I think that Ally is the better option for most investors. It offers a wide range of account types with no minimum balance requirements or maintenance fees. The trading platform is also user-friendly and intuitive. Plus, Ally’s customer service team was very responsive and helpful when I had questions about my account.

For these reasons, I believe that Ally is the best choice when selecting an institution for your investments. It has everything you need to get started in trading without compromising on quality or security. With its competitive pricing structure and reliable customer support team, it’s sure to be a great fit for all your investing needs.

Scroll to Top