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Firstrade vs Ally Invest 2025

StockBrokers.com

Written by StockBrokers.com

February 20, 2025

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

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

Range of investments

When comparing Firstrade and Ally Invest, both platforms offer diverse investment options suitable for a variety of investors. Firstrade stands out with its offering of fractional shares, a feature that is not available with Ally Invest. This can be a significant advantage for investors looking to invest with lower capital, making Firstrade a more flexible choice in this regard. On the other hand, Ally Invest provides access to advisor services, which could be beneficial for those seeking professional guidance. Both platforms have similar ratings of 4.5 stars for their range of investments, though Firstrade holds a slightly better ranking overall according to StockBrokers.com.

Firstrade and Ally Invest both offer a solid range of investment options, including stock trading, margin trading, mutual funds, options trading, and over-the-counter (OTC) stocks. Neither platform provides options for forex, futures, or cryptocurrency trading, which might be a limiting factor for those interested in these markets. For retirement planning, both Firstrade and Ally Invest support traditional and Roth IRA accounts, aligning with the needs of long-term investors.

One of the key differences between the two is Firstrade's offering of fractional shares, which allows investors to purchase smaller portions of a stock—an attractive feature for budget-minded investors. Conversely, Ally Invest compensates for this lack by providing advisor services, offering a layer of personalized investment guidance. While both platforms are rated equally in terms of their investment variety, Firstrade edges ahead with a higher rank at StockBrokers.com, suggesting a slightly more comprehensive selection for investors pursuing a wider investment breadth.

Feature Firstrade logoFirstrade
Ally Invest logoAlly Invest
Stock Trading info Yes Yes
Margin Trading info Yes Yes
Fractional Shares info Yes No
OTC Stocks info Yes Yes
Mutual Funds info Yes Yes
Options Trading info Yes Yes
Futures Trading info No No
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Range of Investments 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Options Trading Platforms for 2025, Best Futures Trading Platforms for 2025

Trading platforms and tools

When comparing Firstrade and Ally Invest's trading platforms and tools, potential users will find that both brokers offer browser-based platforms with no desktop app available for either Windows or Mac. While they both lack features like paper trading and trading journals, Ally Invest slightly outperforms Firstrade in areas like charting capabilities, offering more technical indicators and drawing tools. Yet, both brokers share a three-star rating for their platforms, displaying a balanced offer for everyday traders but fall short of elite rankings according to StockBrokers.com, with Ally Invest at the 10th position and Firstrade at 11th.

Both Firstrade and Ally Invest provide similar basic functionalities such as index overlays on charts. However, Ally Invest has a slight edge in advanced charting options, allowing users to add notes to charts, include automated technical analysis, and save multiple chart profiles. Despite these added functionalities, neither broker supports custom studies or setting custom date ranges, which may be a limitation for some traders.

When it comes to organizing and tracking stocks, Firstrade steps up with the ability to accommodate up to 50 columns for watch lists compared to Ally Invest's 10. On the other hand, while Ally Invest does not allow direct order adjustments on charts, it does provide a more enhanced charting interface with 36 drawing tools compared to Firstrade's 8. Although both platforms hold equal star ratings for their tools, these nuanced differences could influence user preference based on specific trading needs.

Feature Firstrade logoFirstrade
Ally Invest logoAlly Invest
Web Trading Platform info Yes Yes
Desktop Trading Platform info No No
Desktop Platform (Mac) info No No
Paper Trading info No No
Watch Lists - Total Fields info 50 10
Charting - Indicators / Studies info 102 120
Charting - Drawing Tools info 8 36
Platforms & Tools 3/5 Stars 3/5 Stars

Dive deeper: Best Online Brokerage Accounts for 2025, Best Paper Trading Platforms for 2025

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Beginners and education

When it comes to educating beginners, Firstrade and Ally Invest each have their strengths, though Ally Invest shines a bit brighter overall. Both platforms offer stock and options education, catering to those looking to get a solid grounding in these areas. However, Firstrade falls short in ETF, mutual fund, and bond education, areas where Ally Invest provides resources for learners. For those who prefer watching videos, Firstrade delivers a collection of educational videos, while Ally doesn't offer this feature. Additionally, Firstrade hosts webinars to enhance learning, a feature not found with Ally Invest.

While neither broker offers paper trading, quizzes, or tools to track learning progress, Ally Invest's educational content is generally rated higher, earning 4 stars compared to Firstrade's 3.5 stars in the education category. This is reflected in their standings on StockBrokers.com, where Ally Invest is ranked 8th out of 16 brokers for education, whereas Firstrade is rated at 13th. For beginners and investors seeking a broader range of educational content, Ally Invest is a slightly stronger choice, though Firstrade offers certain unique resources like webinars and educational videos.

Feature Firstrade logoFirstrade
Ally Invest logoAlly Invest
Education (Stocks) info Yes Yes
Education (ETFs) info No Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info No Yes
Education (Bonds) info No Yes
Paper Trading info No No
Videos info Yes No
Webinars info Yes No
Education 3.5/5 Stars 4/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2025

Stock trading apps

When evaluating the stock trading app capabilities of Firstrade and Ally Invest, Firstrade takes a slight lead with its comprehensive features and higher customer ratings. Firstrade boasts a 4.5-star rating compared to Ally Invest's 4-star rating and ranks 9th out of 16 brokers, above Ally Invest's rank of 13. This implies a more positively received user experience for Firstrade in terms of overall app satisfaction and functionality.

Both Firstrade and Ally Invest offer stock trading apps compatible with iPhone and Android devices, ensuring wide accessibility. However, neither broker provides an Apple Watch app. While both platforms support mobile options trading, Firstrade gains an edge with mobile after-hours trading and stock alerts features, which are not available with Ally Invest. Streaming quotes, an essential feature for active traders, are available through Firstrade, adding to its multimedia capabilities. Nonetheless, neither broker offers streaming live TV or on-demand video content.

Charting capabilities differ significantly between the two apps. Firstrade stands out by supporting customizable watch lists and column adjustments, landscape-mode chart view, and access to 81 technical studies. It also allows users to view multiple time frames for charting, sharing this feature with Ally Invest. On the other hand, Ally Invest falls short with no technical studies offered and no option for customizing watch list columns or chart views in landscape mode. Both apps lack features for after-hours charting and stock comparisons on charts, but Firstrade's overall charting experience is more feature-rich and customizable.

Feature Firstrade logoFirstrade
Ally Invest logoAlly Invest
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Stock Alerts info Yes No
Charting - After-Hours info No No
Charting - Technical Studies info 81 0
Mobile Trading Apps 4.5/5 Stars 4/5 Stars

Dive deeper: Best Stock Trading Apps for 2025

Fees

When comparing Firstrade and Ally Invest, both online brokers offer competitive fee structures that cater to cost-conscious investors. Firstrade shines with its fee-free structure for regular stock trades and options contracts, making it an attractive choice for those who prioritize minimizing costs. Ally Invest, while also offering $0 commission on stock trades, charges a $0.50 fee per options contract. This slight discrepancy in options fees may influence traders who engage in frequent options trading.

Both brokers have a $0 minimum deposit requirement, providing easy access to market entry for beginners and seasoned investors alike. In terms of margin interest rates for balances below $25,000, Firstrade charges 13.75%, which is slightly higher than Ally Invest's 13%. As the balance tiers increase, Ally Invest maintains a lower margin interest rate advantage, offering better rates on larger balances. When considering retirement accounts, Firstrade and Ally Invest both offer $0 annual fees, but Ally Invest imposes a $25 fee for IRA closures, unlike Firstrade's $0 charge.

Regarding account transfer fees, Ally Invest charges a more economical rate of $50 for both partial and full ACAT transfers, while Firstrade charges $55 for partial and $75 for full transfers. Both brokers equally waive options exercise and assignment fees, giving investors peace of mind for these specific transactions. Ultimately, Firstrade's advantage lies in zero-cost options trading, whereas Ally Invest may appeal to those seeking better interest rates and lower transfer fees.

Feature Firstrade logoFirstrade
Ally Invest logoAlly Invest
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Options (Per Contract) info $0.00 $0.50
Options Exercise Fee info $0.00 $0.00
Options Assignment Fee info $0.00 $0.00
IRA Annual Fee info $0.00 $0.00
IRA Closure Fee info $0.00 $25.00

Dive deeper: Best Free Trading Platforms for 2025

Day Trading

When it comes to day trading, both Firstrade and Ally Invest share several similarities in terms of their capabilities and offerings. Neither platform provides streaming time and sales for stocks, streaming live TV, or direct market routing, all of which are essential tools for active traders who rely on real-time information and swift execution of trades. Additionally, both Firstrade and Ally Invest lack other advanced trading features like ladder trading and trading hotkeys, which can enhance the speed and efficiency of entering trades through keyboard shortcuts.

Furthermore, both brokers do not offer level 2 quotes, which provide detailed views of market depth, nor do they provide basic or advanced strategy backtesting, crucial features for traders interested in testing trading strategies before applying them in live markets. The absence of a short locator tool on both platforms could be a significant limitation for those who wish to assess the availability of shares for short selling in real-time. Moreover, neither Firstrade nor Ally Invest offers order liquidity (maker/taker) rebates, which might be a consideration for traders looking to optimize their cost of trading. Overall, for those focused on day trading specifically, both Firstrade and Ally Invest might fall short due to their lack of high-level trading functionalities.

Feature Firstrade logoFirstrade
Ally Invest logoAlly Invest
Streaming Time & Sales info No No
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 2025

Market Research

When comparing the market research capabilities of Firstrade and Ally Invest, Firstrade generally provides a more comprehensive suite of tools and resources. Although both platforms offer research for stocks, ETFs, mutual funds, Pink Sheets/OTCBB, and bonds, Firstrade edges ahead with its offerings. Notably, Firstrade includes ESG research, downloadable PDF reports for ETFs, and it allows users to use social media sentiment data for stock research, providing a well-rounded approach to market insights. Meanwhile, Ally Invest lacks ESG research and downloadable ETF reports and has limited options for mutual fund research tools.

Both Firstrade and Ally Invest deliver useful tools for portfolio management, allowing investors to view portfolio allocations by asset class. They also provide stock, ETF, and bond screeners for generating trade ideas. However, Firstrade stands out by also offering a screener for mutual funds, further enhancing its research support. While each platform presents opportunities for investors to make informed decisions, Firstrade's wider array of research options can be particularly appealing for those seeking detailed insights.

In terms of overall ratings, Firstrade garners a commendable 4.5 stars for its market research capabilities, while Ally Invest receives 3.5 stars. Furthermore, Firstrade's comprehensive offerings have earned it the #6 rank out of 16 brokers by StockBrokers.com, whereas Ally Invest sits at #8. For investors who prioritize extensive research tools and a variety of investment insights, Firstrade seems to be the more advantageous choice.

Feature Firstrade logoFirstrade
Ally Invest logoAlly Invest
Research - Stocks info Yes Yes
Screener - Stocks info Yes Yes
Research - ETFs info Yes Yes
Screener - ETFs info Yes Yes
Research - Mutual Funds info Yes Yes
Screener - Mutual Funds info Yes No
Research - Bonds info Yes Yes
Screener - Bonds info Yes Yes
Research 4.5/5 Stars 3.5/5 Stars

Banking

When comparing the banking capabilities of Firstrade and Ally Invest, several differences and similarities emerge. Both online brokers provide checking accounts, debit cards, and Certificates of Deposit (CDs). However, for those seeking a more comprehensive suite of banking services, Ally Invest may be a better fit. Ally Invest offers savings accounts, credit cards, and mortgage loans, while Firstrade does not provide these options. This distinction makes Ally Invest potentially more appealing for customers looking for a one-stop-shop for both investment and wider banking needs. On the other hand, Firstrade can meet basic banking requirements with its checking account, debit card, and CD offerings.

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

Dive deeper: Best Bank Accounts for Trading Stocks for 2025

Winner

After opening live accounts and testing 16 of the best online brokers, our research and live account testing finds that Firstrade is better than Ally Invest. Firstrade finished with an overall score of 81.8%, while Ally Invest finished with a score of 80.1%.

Firstrade scored well for penny stock trading in our 2024 Annual Awards, and is a great choice for Chinese-speaking investors. However, it lags behind the competition in certain areas, especially platforms, tools and education.

FAQs

Can you trade cryptocurrency with Firstrade or Ally Invest?

Neither Firstrade nor Ally Invest offers crypto trading options, with both platforms providing zero coins for cryptocurrency transactions.

Dive deeper: Best Online Brokers for Crypto Trading in 2025

Does Firstrade or Ally Invest offer IRAs?

Both Firstrade and Ally Invest offer traditional and Roth IRA accounts without any annual fees, making them cost-effective options for retirement saving. While Firstrade does not charge a fee for closing IRA accounts, Ally Invest imposes a $25 closure fee, giving Firstrade an edge for cost-sensitive investors.

Dive deeper: Best IRA Accounts for 2025

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Compare

0 of 5
Overall Rating Firstrade Ally Invest
Overall 4/5 Stars 4/5 Stars
Range of Investments 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 3/5 Stars 3/5 Stars
Mobile Trading Apps 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 3.5/5 Stars
Customer Service 3.5/5 Stars 4/5 Stars
Education 3.5/5 Stars 4/5 Stars
Ease Of Use 4/5 Stars 4.5/5 Stars
Winner check_circle
Review Firstrade Review Ally Invest Review
Broker Screenshots Firstrade Ally Invest
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 Firstrade Ally Invest
Minimum Deposit info $0.00 $0.00
Stock Trades info $0.00 $0.00
Penny Stock Fees (OTC) info $0.00 $4.95
Mutual Fund Trade Fee info $0 $0.00
Options (Per Contract) info $0.00 $0.50
Futures (Per Contract) info (Not offered) (Not offered)
Broker Assisted Trade Fee info $19.95 $20
Margin Rates Firstrade Ally Invest
Margin Rate Under $25,000 info 13.75% 13%
Margin Rate $25,000 to $49,999.99 info 13.50% 12.75%
Margin Rate $50,000 to $99,999.99 info 13.00% 12%
Margin Rate $100,000 to $249,999.99 info 12.50% 10.75%
Margin Rate $250,000 to $499,999.99 info 12.50% 9.75%
Margin Rate $500,000 to $999,999.99 info 12.50% 9.25%
Margin Rate Above $1,000,000 info 12.50% 8.5%
Account Fees Firstrade Ally Invest
IRA Annual Fee info $0.00 $0.00
IRA Closure Fee info $0.00 $25.00
Account Transfer Out (Partial) info $55.00 $50.00
Account Transfer Out (Full) info $75.00 $50.00
Options Exercise Fee info $0.00 $0.00
Options Assignment Fee info $0.00 $0.00
Investment Options Firstrade Ally Invest
Stock Trading info Yes Yes
Margin Trading info Yes Yes
Fractional Shares info Yes No
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 4
Futures Trading info No No
Forex Trading info No No
Crypto Trading info No No
Crypto Trading - Total Coins info 0 0
Mutual Funds (No Load) info 15460 13000
Mutual Funds (Total) info 19666 14000
Bonds (US Treasury) info Yes Yes
Bonds (Corporate) info Yes Yes
Bonds (Municipal) info Yes Yes
Traditional IRAs info Yes Yes
Roth IRAs info Yes Yes
Advisor Services info No Yes
International Countries (Stocks) info 0 0
Order Types Firstrade Ally Invest
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes No
Order Type - OCO info Yes No
Order Type - OTO info Yes No
Order Type - Broker Assisted info Yes Yes
Beginners Firstrade Ally Invest
Education (Stocks) info Yes Yes
Education (ETFs) info No Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info No Yes
Education (Bonds) info No Yes
Education (Retirement) info Yes Yes
Retirement Calculator info Yes No
Investor Dictionary info Yes Yes
Paper Trading info No No
Videos info Yes No
Webinars info Yes No
Webinars (Archived) info Yes Yes
Progress Tracking info No No
Interactive Learning - Quizzes info No No
Stock Trading Apps Firstrade Ally Invest
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 Yes
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes Yes
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes No
Stock App Features Firstrade Ally Invest
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No No
Videos on Demand info No No
Stock Alerts info Yes No
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes No
Watch Lists - Create & Manage info Yes Yes
Watch Lists - Column Customization info Yes No
Stock App Charting Firstrade Ally Invest
Charting - After-Hours info No No
Charting - Can Turn Horizontally info Yes No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 81 0
Charting - Study Customizations info Yes No
Charting - Stock Comparisons info No No
Trading Platforms Firstrade Ally Invest
Active Trading Platform info N/A
Desktop Trading Platform info No No
Desktop Platform (Mac) info No No
Web Trading Platform info Yes Yes
Paper Trading info No No
Trade Journal info No No
Watch Lists - Total Fields info 50 10
Stock Chart Features Firstrade Ally Invest
Charting - Adjust Trades on Chart info No No
Charting - Indicators / Studies info 102 120
Charting - Drawing Tools info 8 36
Charting - Notes info No 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 No Yes
Charting - Save Profiles info No Yes
Trade Ideas - Technical Analysis info Yes Yes
Charting - Study Customizations info 6 8
Charting - Custom Studies info No No
Day Trading Firstrade Ally Invest
Streaming Time & Sales info No No
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 Firstrade Ally Invest
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes Yes
Research - Pink Sheets / OTCBB info Yes Yes
Research - Bonds info Yes Yes
Screener - Stocks info Yes Yes
Screener - ETFs info Yes Yes
Screener - Mutual Funds info Yes No
Screener - Bonds info Yes Yes
Misc - Portfolio Allocation info Yes Yes
Stock Research Firstrade Ally Invest
Stock Research - PDF Reports info 1 0
Stock Research - Earnings info Yes No
Stock Research - Insiders info Yes Yes
Stock Research - Social info Yes Yes
Stock Research - News info Yes Yes
Stock Research - ESG info Yes No
Stock Research - SEC Filings info Yes No
ETF Research Firstrade Ally Invest
ETFs - Strategy Overview info Yes Yes
ETF Fund Facts - Inception Date info Yes No
ETF Fund Facts - Expense Ratio info Yes Yes
ETF Fund Facts - Net Assets info Yes Yes
ETF Fund Facts - Total Holdings info Yes No
ETFs - Top 10 Holdings info Yes Yes
ETFs - Sector Exposure info Yes No
ETFs - Risk Analysis info Yes No
ETFs - Ratings info Yes Yes
ETFs - Morningstar StyleMap info Yes No
ETFs - PDF Reports info Yes No
Mutual Fund Research Firstrade Ally Invest
Mutual Funds - Strategy Overview info Yes Yes
Mutual Funds - Performance Chart info Yes Yes
Mutual Funds - Performance Analysis info Yes No
Mutual Funds - Prospectus info Yes No
Mutual Funds - 3rd Party Ratings info Yes Yes
Mutual Funds - Fees Breakdown info Yes No
Mutual Funds - Top 10 Holdings info Yes Yes
Mutual Funds - Asset Allocation info Yes No
Mutual Funds - Sector Allocation info Yes Yes
Mutual Funds - Country Allocation info Yes No
Mutual Funds - StyleMap info Yes No
Options Trading Firstrade Ally Invest
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes Yes
Option Chains - Streaming info No Yes
Option Chains - Total Columns info 8 8
Option Chains - Greeks info 5 5
Option Chains - Quick Analysis info No Yes
Option Analysis - P&L Charts info Yes No
Option Probability Analysis info No Yes
Option Probability Analysis Adv info Yes No
Option Positions - Greeks info No Yes
Option Positions - Greeks Streaming info No No
Option Positions - Adv Analysis info No No
Option Positions - Rolling info Yes No
Option Positions - Grouping info No Yes
Banking Firstrade Ally Invest
Bank (Member FDIC) info No Yes
Checking Accounts info Yes Yes
Savings Accounts info No Yes
Credit Cards info No Yes
Debit Cards info Yes Yes
Mortgage Loans info No Yes
Customer Service Firstrade Ally Invest
Phone Support (Prospect Customers) info Yes Yes
Phone Support (Current Customers) info Yes Yes
Email Support info Yes Yes
Live Chat (Prospect Customers) info Yes No
Live Chat (Current Customers) info Yes Yes
24/7 Support info No Yes
Overall Firstrade Ally Invest
Overall 4/5 Stars 4/5 Stars
Range of Investments 4.5/5 Stars 4.5/5 Stars
Platforms & Tools 3/5 Stars 3/5 Stars
Mobile Trading Apps 4.5/5 Stars 4/5 Stars
Research 4.5/5 Stars 3.5/5 Stars
Education 3.5/5 Stars 4/5 Stars
Ease Of Use 4/5 Stars 4.5/5 Stars
Winner check_circle
Review Firstrade Review Ally Invest Review
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