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Ally Invest vs eToro 2024

StockBrokers.com

Written by StockBrokers.com

October 30, 2024

In this head to head comparison of Ally Invest vs eToro, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.

Ally Invest
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.50
eToro
4/5 Stars Overall
  • Minimum Deposit: $50.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00

Investment options

When comparing Ally Invest and eToro, it's evident that between the two, Ally Invest offers a more extensive selection of traditional investment options as well as beneficial account services. With a 4.5-star rating for investment options, Ally Invest provides a strong platform with offerings such as stock and margin trading, OTC stocks, mutual funds, options trading, and IRA accounts. Ranked #8 out of 18 brokers by StockBrokers.com for investment options, Ally Invest appeals to those seeking a variety of investment vehicles. In contrast, eToro, with a 2.5-star rating and a rank of #17, focuses on modern trading avenues like fractional shares and cryptocurrency, making it more attractive to those interested in emerging markets rather than traditional investments.

In terms of specific offerings, both Ally Invest and eToro provide stock and options trading to their clients. However, Ally Invest's platform extends its capabilities by including margin trading and access to OTC stocks, neither of which are available through eToro. Moreover, mutual funds and IRAs – both traditional and Roth – offered by Ally Invest, further strengthen its service for investors interested in long-term planning and diversification within a more traditional asset environment.

Where eToro differentiates itself is its support for crypto trading, providing access to 26 different coins. This positions eToro as a viable option for those eager to explore cryptocurrencies. It also offers fractional shares trading, an attractive feature for new investors looking to start small. Despite these modern offerings, eToro's limited range of additional investment options and account types does place it behind Ally Invest for those who prioritize a comprehensive suite of conventional financial instruments alongside emergent ones.

Feature Ally Invest logoAlly Invest
eToro logoeToro
Stock Trading info Yes Yes
Margin Trading Yes No
Fractional Shares info No Yes
OTC Stocks info Yes No
Mutual Funds info Yes No
Options Trading info Yes Yes
Futures Trading info No No
Crypto Trading info No Yes
Crypto Trading - Total Coins info 0 26
Investment Options 4.5/5 Stars 2.5/5 Stars

Dive deeper: Best Options Trading Platforms for 2024, Best Futures Trading Platforms for 2024

Trading platforms and tools

When comparing Ally Invest and eToro for their trading platforms and tools, it's clear that both brokers offer distinct features tailored for different trader needs, but neither claims a definitive edge, as reflected by their identical 3.5-star ratings. Ranked closely by StockBrokers.com — with Ally Invest at 11th and eToro at 12th among 18 brokers — both platforms provide comprehensive, though distinct, experiences for users. Ally Invest excels in volume with its range of technical indicators and watch list fields, while eToro caters more effectively to beginners with paper trading capabilities, though both lack certain features like desktop applications for Windows and Mac.

With browser-based platforms as their sole digital trading interface, both Ally Invest and eToro ensure access across devices. Though neither facilitates trading journals, both allow users to add notes and index overlays to charts. A notable distinction is Ally Invest’s offering of 120 technical indicators and 36 drawing tools, compared to eToro's 46 indicators and 48 drawing tools. For note-taking, chart pattern recognition, saving multiple chart profiles, and adjusting open orders directly on charts, both platforms remain comparable yet do not support custom study creation or display of comprehensive corporate events on charts.

For those prioritizing customization and detail, Ally Invest allows more fields for editing SMA studies and offers superior navigation through chart patterns with automated technical analysis. Yet, while eToro falls slightly behind in customization, its inclusion of a paper trading feature compensates by offering a risk-free environment for strategy development. Ultimately, the choice between Ally Invest and eToro hinges on whether the user's priority is a detailed analytical toolset or a platform conducive to educational exploration with a simulated trading experience.

Feature Ally Invest logoAlly Invest
eToro logoeToro
Web Trading Platform info Yes Yes
Desktop Trading Platform info No No
Desktop Platform (Mac) info No No
Paper Trading info No Yes
Watch Lists - Total Fields info 10 7
Charting - Indicators / Studies info 120 46
Charting - Drawing Tools info 36 48
Platforms & Tools 3.5/5 Stars 3.5/5 Stars

Dive deeper: Best Stock Brokers & Trading Platforms for 2024, Best Paper Trading Platforms for 2024

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Beginners and education

Ally Invest provides a comprehensive suite of educational resources ideal for beginners looking to delve into the world of investing. With offerings that span stock, ETF, options, mutual funds, and bonds education, Ally Invest ensures a robust foundation of knowledge for novice investors. However, it lacks interactive learning tools such as paper trading, videos, or webinars. This extensive but traditional approach has earned Ally Invest a commendable 4-star rating for its education services and a respectable rank of #9 among 18 brokers according to StockBrokers.com.

eToro also caters to beginners with a focus on accessible, interactive educational tools. While its coverage is limited to stock education, eToro compensates with valuable resources like paper trading and educational videos to engage and instruct new investors. Despite the absence of ETF, options, mutual funds, and bonds education, eToro maintains an emphasis on hands-on learning experiences. This approach, while engaging, has resulted in a 2.5-star rating for educational offerings and a ranking of #16 out of 18 brokers, as noted by StockBrokers.com.

Feature Ally Invest logoAlly Invest
eToro logoeToro
Education (Stocks) info Yes Yes
Education (ETFs) info Yes No
Education (Options) info Yes No
Education (Mutual Funds) info Yes No
Education (Bonds) info Yes No
Paper Trading info No Yes
Videos info No Yes
Webinars info No No
Education 4/5 Stars 2.5/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2024

Stock trading apps

eToro and Ally Invest are popular platforms among online brokers for stock trading on mobile apps, each with its unique offerings catering to different investor needs. While both provide essential functionalities like iPhone and Android apps for seamless trading on the go, there are distinct differences. eToro, with a 4.5-star rating and ranked #11 by StockBrokers.com, offers superior features such as streaming quotes, videos on demand, stock alerts, after-hours charting, and comprehensive technical studies with 103 options. In contrast, Ally Invest, rated 4 stars and ranked #13, provides essential trading capabilities with strengths in mobile options trading and custom watch lists but lacks advanced features like streaming quotes and stock alerts.

Both Ally Invest and eToro deliver mobile apps compatible with iPhones and Android devices, ensuring accessibility for traders across major platforms. However, neither offers an Apple Watch app, which might be a consideration for tech-savvy users seeking maximum portability. Ally Invest and eToro enable traders to perform tasks like mobile after-hours stock and options trading and create and customize watch lists to a certain degree, although eToro has an edge in offering streaming quotes and stock alerts, enhancing real-time market engagement.

When evaluating charting capabilities, eToro again stands out, allowing after-hours charting, stock comparisons on charts, and extensive technical studies, which are beneficial for more analytical investors. On the other hand, Ally Invest provides only basic charting functionalities with multiple time frames but no technical studies or after-hours charting. Therefore, traders looking for a robust analysis platform may find eToro's offerings more comprehensive and suited to advanced trading strategies. Ultimately, the choice between Ally Invest and eToro might hinge on whether users prioritize basic trading functionalities or advanced analytical features for their mobile trading experience.

Feature Ally Invest logoAlly Invest
eToro logoeToro
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Stock Alerts info No Yes
Charting - After-Hours info No Yes
Charting - Technical Studies info 0 103
Mobile Trading Apps 4/5 Stars 4.5/5 Stars

Dive deeper: Best Stock Trading Apps for 2024

Fees

When comparing Ally Invest and eToro, investors' decisions will largely hinge on individual needs and preferences. Ally Invest impresses with its no-minimum deposit requirement, making it accessible for any investor, while eToro requires a minimum deposit of $50. Both platforms offer commission-free stock trades, providing a cost-effective entry into trading. On options trading, Ally Invest charges $0.50 per contract, whereas eToro charges nothing, presenting a potential edge for options traders favoring eToro. Furthermore, Ally Invest offers margin accounts with tiered interest rates for balances below $100,000, while eToro does not provide a margin account option. Thus, Ally Invest might appeal to investors interested in margin trading.

For investors focused on retirement accounts, Ally Invest does not charge annual fees for IRAs but imposes a $25 fee for IRA closure, while eToro does not provide detailed fee information on IRAs. In terms of account transfers, Ally Invest charges $50 for both partial and full transfers, which is more affordable than eToro's $75 fee for similar transactions. These factors could make Ally Invest the more appealing choice for those frequently managing multiple accounts or considering future transfers.

Both platforms provide a cost-free experience for options exercise and assignment fees, benefiting options traders who wish to control their investments without incurring additional costs. Overall, the comparison between Ally Invest and eToro reveals distinct advantages based on specific trading needs—whether focusing on basic stock trades, options trading, or leveraging retirement accounts. Investors should analyze their unique requirements and trading habits to determine which platform aligns best with their financial goals.

Feature Ally Invest logoAlly Invest
eToro logoeToro
Minimum Deposit $0.00 $50.00
Stock Trades $0.00 $0.00
Options (Per Contract) $0.50 $0.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
IRA Annual Fee $0.00
IRA Closure Fee $25.00
Commissions & Fees 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Free Trading Platforms for 2024

Day Trading

When comparing Ally Invest and eToro for day trading capabilities, both platforms exhibit limitations. Neither broker provides direct market routing or the ability to engage in ladder trading, and both lack essential features like trading hotkeys for keyboard trade entry. Furthermore, neither Ally Invest nor eToro supports advanced trading tools such as level 2 quotes or strategy backtesting, which might be critical for serious day traders. Although eToro does offer streaming time and sales for stocks, it'll still fall short when compared to industry leaders in day trading features.

Beyond these limitations, Ally Invest and eToro don't support streaming live TV and lack features like order liquidity (maker/taker) rebates and a short locator tool to aid in real-time short selling strategies. This comparative analysis suggests that traders focused on day trading specifically might need to look beyond Ally Invest and eToro to find platforms with more robust tools and advanced functionalities designed to optimize their trading strategies. Thus, while both platforms serve certain trading needs, those with a deep focus on day trading may find them lacking in critical features.

Feature Ally Invest logoAlly Invest
eToro logoeToro
Streaming Time & Sales info No Yes
Streaming TV info No No
Direct Market Routing - Stocks info No No
Level 2 Quotes - Stocks info No No
Trade Ideas - Backtesting info No No
Trade Ideas - Backtesting Adv info No No
Short Locator info No No

Dive deeper: Best Day Trading Platforms for 2024

Market Research

When comparing the market research capabilities of Ally Invest and eToro, Ally Invest generally provides a more comprehensive range of research tools and resources for investors. With a higher rating of four stars out of five, Ally Invest positions itself as a strong contender in the broker market, offering research on stocks, ETFs, mutual funds, pink sheets, OTCBB, and bonds. Its ability to let investors analyze portfolio allocation by asset class and access tools such as stock and ETF screeners further enhances its utility. Conversely, eToro, rated with three stars, excels in areas like ESG research and combines stock research with social media sentiment data but lacks several features available at Ally Invest.

Ally Invest offers robust market research capabilities, providing access to detailed research in areas such as mutual funds, and even pink sheets/OTCBB, which eToro does not. Investors can make use of stock and ETF screening tools at Ally Invest, alongside tools for exploring bonds and overall portfolio assessment by asset class, factors which eToro does not support. Notably, both platforms do not provide downloadable PDF research reports, but Ally Invest still leads with its broader capabilities and higher overall market research ranking at #7 out of 18 brokers, surpassing eToro's ranking of #12.

eToro, while slightly trailing behind Ally Invest in certain research areas, does offer advantages in integrating social media sentiment into its stock research approach. Additionally, eToro uniquely provides ESG research insights, catering to investors focused on sustainable and responsible investing trends. Despite these offerings, Ally Invest’s expansive research options, particularly in mutual funds, bonds, and various screeners, make it a more robust choice for users seeking comprehensive market research tools.

Feature Ally Invest logoAlly Invest
eToro logoeToro
Research - Stocks info Yes Yes
Screener - Stocks info Yes No
Research - ETFs info Yes Yes
Screener - ETFs info Yes No
Research - Mutual Funds info Yes No
Screener - Mutual Funds info No No
Research - Bonds info Yes No
Screener - Bonds info Yes No
Research 4/5 Stars 3/5 Stars

Banking

When comparing the banking capabilities of online brokers Ally Invest and eToro, Ally Invest clearly offers a more comprehensive suite of banking services. Ally Invest provides customers with checking accounts, savings accounts, debit cards, credit cards, mortgage loans, and certificates of deposit (CDs), making it a versatile choice for users seeking an all-in-one financial institution. On the other hand, eToro does not offer any of these banking products, focusing solely on its investment platform. For users interested in seamless banking and investing integration, Ally Invest stands out with its robust banking offerings compared to eToro.

Feature Ally Invest logoAlly Invest
eToro logoeToro
Checking Accounts info Yes No
Savings Accounts info Yes No
Debit Cards info Yes No
Credit Cards info Yes No
Mortgage Loans info Yes No
CDs info Yes No

Dive deeper: Best Bank Accounts for Trading Stocks for 2024

Winner

After opening live accounts and testing 18 of the best online brokers, our research and live account testing finds that Ally Invest is better than eToro. Ally Invest finished with an overall score of 83.8%, while eToro finished with a score of 76.7%.

For current Ally customers looking to invest in stocks, Ally's universal-accounts experience and easy-to-use website offer a convenient solution. Its website is far stronger than the mobile app.

FAQs

Can you trade cryptocurrency with Ally Invest or eToro?

When comparing online brokers, eToro stands out for cryptocurrency enthusiasts by offering trading in 26 different coins, while Ally Invest does not provide any options for crypto trading.

Dive deeper: Best Online Brokers for Crypto Trading in 2024

Does Ally Invest or eToro offer IRAs?

Ally Invest offers both traditional and Roth IRA accounts with no annual fee, but imposes a $25 closure fee, whereas eToro does not provide IRA accounts, making Ally Invest the favorable choice for IRA services.

Dive deeper: Best IRA Accounts for 2024

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Compare

0 of 5
Overall Rating Ally Invest eToro
Overall 4/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 2.5/5 Stars
Platforms & Tools 3.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 4/5 Stars 4.5/5 Stars
Research 4/5 Stars 3/5 Stars
Customer Service 4/5 Stars N/A
Education 4/5 Stars 2.5/5 Stars
Ease Of Use 4.5/5 Stars 4/5 Stars
Winner check_circle
Review Ally Invest Review eToro Review
Broker Screenshots Ally Invest eToro
Trading Platform & Tools Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Trading Fees Ally Invest eToro
Minimum Deposit $0.00 $50.00
Stock Trades $0.00 $0.00
Penny Stock Fees (OTC) info $4.95 N/A
Mutual Fund Trade Fee $0.00 N/A
Options (Per Contract) $0.50 $0.00
Futures (Per Contract) (Not offered) (Not offered)
Broker Assisted Trade Fee $20 $0
Margin Rates Ally Invest eToro
Margin Rate Under $25,000 13% Not offered
Margin Rate $25,000 to $49,999.99 12.75% Not offered
Margin Rate $50,000 to $99,999.99 12% Not offered
Margin Rate $100,000 to $249,999.99 10.75% Not offered
Margin Rate $250,000 to $499,999.99 9.75% Not offered
Margin Rate $500,000 to $999,999.99 9.25% Not offered
Margin Rate Above $1,000,000 8.5% Not offered
Account Fees Ally Invest eToro
IRA Annual Fee $0.00
IRA Closure Fee $25.00
Account Transfer Out (Partial) info $50.00 $75.00
Account Transfer Out (Full) info $50.00 $75.00
Options Exercise Fee $0.00 $0.00
Options Assignment Fee $0.00 $0.00
Investment Options Ally Invest eToro
Stock Trading info Yes Yes
Margin Trading Yes No
Fractional Shares info No Yes
OTC Stocks info Yes No
Options Trading info Yes Yes
Complex Options Max Legs info 4 0
Futures Trading info No No
Forex Trading info No No
Crypto Trading info No Yes
Crypto Trading - Total Coins info 0 26
Mutual Funds (No Load) info 13000 0
Mutual Funds (Total) info 14000 0
Bonds (US Treasury) info Yes No
Bonds (Corporate) info Yes No
Bonds (Municipal) info Yes No
Traditional IRAs info Yes No
Roth IRAs info Yes No
Advisor Services info Yes No
International Countries (Stocks) info 0 0
Order Types Ally Invest eToro
Order Type - Market info Yes Yes
Order Type - Limit info Yes No
Order Type - After Hours info Yes No
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info No Yes
Order Type - OCO info No No
Order Type - OTO info No No
Order Type - Broker Assisted info Yes No
Beginners Ally Invest eToro
Education (Stocks) info Yes Yes
Education (ETFs) info Yes No
Education (Options) info Yes No
Education (Mutual Funds) info Yes No
Education (Bonds) info Yes No
Education (Retirement) info Yes No
Retirement Calculator info No No
Investor Dictionary info Yes No
Paper Trading info No Yes
Videos info No Yes
Webinars info No No
Webinars (Archived) info Yes No
Progress Tracking info No No
Interactive Learning - Quizzes info No No
Stock Trading Apps Ally Invest eToro
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes No
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes No
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info No Yes
Stock App Features Ally Invest eToro
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No No
Videos on Demand info No Yes
Stock Alerts info No Yes
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info No Yes
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info No No
Stock App Charting Ally Invest eToro
Charting - After-Hours info No Yes
Charting - Can Turn Horizontally info No No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 0 103
Charting - Study Customizations info No Yes
Charting - Stock Comparisons info No Yes
Trading Platforms Ally Invest eToro
Active Trading Platform info N/A N/A
Desktop Trading Platform info No No
Desktop Platform (Mac) info No No
Web Trading Platform info Yes Yes
Paper Trading info No Yes
Trade Journal info No No
Watch Lists - Total Fields info 10 7
Stock Chart Features Ally Invest eToro
Charting - Adjust Trades on Chart info No No
Charting - Indicators / Studies info 120 46
Charting - Drawing Tools info 36 48
Charting - Notes info Yes Yes
Charting - Index Overlays info Yes Yes
Charting - Historical Trades info No No
Charting - Corporate Events info No No
Charting - Custom Date Range info No No
Charting - Custom Time Bars info No No
Charting - Automated Analysis info Yes No
Charting - Save Profiles info Yes Yes
Trade Ideas - Technical Analysis info Yes Yes
Charting - Study Customizations info 8 5
Charting - Custom Studies info No No
Day Trading Ally Invest eToro
Streaming Time & Sales info No Yes
Streaming TV info No No
Direct Market Routing - Stocks info No No
Ladder Trading info No No
Trade Hotkeys info No No
Level 2 Quotes - Stocks info No No
Trade Ideas - Backtesting info No No
Trade Ideas - Backtesting Adv info No No
Short Locator info No No
Order Liquidity Rebates info No No
Research Overview Ally Invest eToro
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes No
Research - Pink Sheets / OTCBB info Yes No
Research - Bonds info Yes No
Screener - Stocks info Yes No
Screener - ETFs info Yes No
Screener - Mutual Funds info No No
Screener - Bonds info Yes No
Misc - Portfolio Allocation info Yes No
Stock Research Ally Invest eToro
Stock Research - PDF Reports info 0 0
Stock Research - Earnings info No Yes
Stock Research - Insiders info Yes Yes
Stock Research - Social info Yes Yes
Stock Research - News info Yes Yes
Stock Research - ESG info No Yes
Stock Research - SEC Filings info No Yes
ETF Research Ally Invest eToro
ETFs - Strategy Overview info Yes Yes
ETF Fund Facts - Inception Date info No No
ETF Fund Facts - Expense Ratio info Yes No
ETF Fund Facts - Net Assets info Yes No
ETF Fund Facts - Total Holdings info No No
ETFs - Top 10 Holdings info Yes No
ETFs - Sector Exposure info No No
ETFs - Risk Analysis info No No
ETFs - Ratings info Yes Yes
ETFs - Morningstar StyleMap info No No
ETFs - PDF Reports info No No
Mutual Fund Research Ally Invest eToro
Mutual Funds - Strategy Overview info Yes No
Mutual Funds - Performance Chart info Yes No
Mutual Funds - Performance Analysis info No No
Mutual Funds - Prospectus info No No
Mutual Funds - 3rd Party Ratings info Yes No
Mutual Funds - Fees Breakdown info No No
Mutual Funds - Top 10 Holdings info Yes No
Mutual Funds - Asset Allocation info No No
Mutual Funds - Sector Allocation info Yes No
Mutual Funds - Country Allocation info No No
Mutual Funds - StyleMap info No No
Options Trading Ally Invest eToro
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes No
Option Chains - Streaming info Yes No
Option Chains - Total Columns info 8 0
Option Chains - Greeks info 5 4
Option Chains - Quick Analysis info Yes Yes
Option Analysis - P&L Charts info No No
Option Probability Analysis info Yes No
Option Probability Analysis Adv info No No
Option Positions - Greeks info Yes No
Option Positions - Greeks Streaming info No No
Option Positions - Adv Analysis info No No
Option Positions - Rolling info No No
Option Positions - Grouping info Yes No
Banking Ally Invest eToro
Bank (Member FDIC) info Yes No
Checking Accounts info Yes No
Savings Accounts info Yes No
Credit Cards info Yes No
Debit Cards info Yes No
Mortgage Loans info Yes No
Customer Service Ally Invest eToro
Phone Support (Prospect Customers) info Yes No
Phone Support (Current Customers) info Yes No
Email Support info Yes Yes
Live Chat (Prospect Customers) info No Yes
Live Chat (Current Customers) info Yes Yes
24/7 Support info Yes No
Overall Ally Invest eToro
Overall 4/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 2.5/5 Stars
Platforms & Tools 3.5/5 Stars 3.5/5 Stars
Mobile Trading Apps 4/5 Stars 4.5/5 Stars
Research 4/5 Stars 3/5 Stars
Education 4/5 Stars 2.5/5 Stars
Ease Of Use 4.5/5 Stars 4/5 Stars
Winner check_circle
Review Ally Invest Review eToro Review
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