The customer service representatives we talked to were courteous and knowledgeable.
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While the platform's step-by-step process of analyzing an option or stock will help shorten the learning-curve for new traders, we expect that this process will seem nothing but cumbersome to more experienced investors. You can even adjust your risk tolerance and, therefore, your portfolio allocations.
Charts are smooth and easy to toggle, and there is now a deep analysis feature that allows users to compare theoretical market positions with actual, live positions.
Ally Invest LIVE only runs on Windows-based platforms, so Mac users will have to use the web portal or, like with many Windows-only applications, run a Windows emulator or install Windows on their Mac computers not difficult to come by, and Mac users have long understood this problem and the ways around it for years. Our Deep Dive Costs and More: Signing up and depositing money is a long process, but everything else is super user-friendly, especially its main platform, Ally Invest LIVE.
Nevertheless, there are Mac apps that can run Windows-based programs which could be a work-around if you are an Apple customer. Ally Invest has one of the best research libraries available when compared to most of its competitors.
It has a large archive of information and brings both visual slides and interactive media to the user experience. Here, users can analyze everything from earnings to transactions, study graphs, and get an overview of a wide variety of market data. Many other brokers simply give you a rundown of items with boring albeit still useful data. In its early days, Ally Invest was known for stellar customer service it even won awards for it shortly after its founding , but since the industry has evolved, customer service is about on par with the rest of the online brokers in the industry.
This sidekick service to Ally Invest as a whole simply offers customers a professionally managed portfolio through a digital portal with the support of advisors hired by Ally Invest. OptionsHouse is great if you are an experienced investor and have an active interest in trading options.
It was simply made for seasoned investors, by seasoned investors. Modifying or entering trades was similar to the web-platform and was very easy to navigate. Security settings were flexible and could be adjusted to the user's preferences. Pros Charts and order entry were easy to use and made good use of the limited screen size. Watchlists could be created and edited on the mobile app that were coordinated with the web-platform.
Complex option orders and spreads could be created through an easy to follow step by step process. In our opinion, it is possible for a trader to accomplish nearly any strategy within the mobile app that they might otherwise enter in the web version.
Cons While the mobile app was coordinated with the web-application, we found that it took some time before changes to watchlists and other features were updated in both places. For example, we had to log out and then log back into both platforms to see changes to watchlists synchronize between the two environments.
The mobile app doesn't open directly into the trading functionality when it's first launched so an investor must navigate to that feature from the initial "Account Snapshot" page that opens by default. We found call hold times during market hours to be long; however, chat was extremely responsive and helpful. The help-link inside the trading application defaults to knowledge base-style articles, so an investor will need to locate the contact link at the top of the site to reach a live person.
Low-cost index funds ETFs are used to make up the portfolio. This will maximize your return. You can even adjust your risk tolerance and, therefore, your portfolio allocations. Managed Portfolios can be made for individual and joint taxable accounts; traditional, Roth and rollover IRAs; and custodial accounts.
You can trade more than 50 currency pairs. These include gold and silver. All trades can be done in real time. The service comes with strong research and analysis tools. There is also a wide range of educational material. You will also enjoy market access 24 hours a day, Sunday through Friday beginning Sundays at Metals, agriculturals, indices and bonds from various exchanges Tiered commission plans that offer reduced fees for high-volume trading Charting capabilities based on over technical indicators Indicators, real-time alerts and a tradable Market Depth Ladder — all customizable When you apply for an account, you can open either a ForexTrader or a MetalTrader account.
This will allow more flexibility and diversification. This is done to reduce your trading costs and increase your profit potential.
Ally Invest even publishes its live spreads. It does not charge commission fees on forex trades. This feature is designed to run on both Windows and Mac and with many web browsers. This offers professional-grade tools to identify and decode forex patterns and trends. The tool allows you to: The app is available on iPhone and Android.
It has strong trading capabilities, charting tools, price alerts, real-time news and commentary, and the ability to manage your account on the go. Ally Invest offers premium education, from the basics of forex and futures trading to technical and fundamental analysis. There is also a helpful glossary if you just need to quickly look up a term. This lets you hone your skills before putting your own real money to work.
This is a big plus for anyone who either is new to forex and futures trading or wants to improve their skills before going live.
Ally Invest (formerly TradeKing) offers one of the lowest trade fees, but is it good? Learn the pros and cons and see comparisons with other online brokers in this in-depth review. Ally Invest Review: Pros and Cons. By Cynthia Cohen. Read more about Ally Invest. Ally Invest may not be right for you if you are: A beginner investor /5.
Jan 06, · Nerdwallet's brokerage experts review TradeKing, which stands out among deep-discount brokers by offering robust Author: Dayana Yochim. Beginner investors at TradeKing get no surcharge on trades executed with the help of the broker, access to one of the best investor communities, easy-to-master trading tools, and great customer service. TradeKing Review Summary TradeKing is one of our favorite online brokers /5.
Feb 19, · Ally Invest (previously TradeKing) offers clients a comprehensive package at a competitive price. The broker has a strong foundation for the future with its TradeKing LIVE responsive platform and new parent, Ally Financial. Ally Invest Review. Open an account today. Best Brokers for Beginners; Compare Online /5. Ally Invest (formerly TradeKing) Review By John Jagerson | January 11, Ally Invest focuses on low costs and a broad product offering which will likely appeal to active stock and option.
Jul 23, · Ally Invest Review – Low Prices and Great Customer Service. Rating: / Review of: Ally Invest. It’s a relative newcomer to the market. Ally Financial created the platform from its purchase of TradeKing. We’ll talk about that in more detail in just a minute. Best Stock Broker for Beginners; Stock Broker / Ally Invest Review. by Jody Ray Bennett Updated on Investing Money Beginner investors and advanced investors Mutual Funds Price-conscious traders Data Analysis: Not For: Ally Financial announced the acquisition of TradeKing Group for $ million. According to the TradeKing site, the interface will stay the same and “for .