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Ally Invest vs Webull 2024

StockBrokers.com

Written by StockBrokers.com

October 30, 2024

In this head to head comparison of Ally Invest vs Webull, 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
Webull
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.00

Investment options

When comparing the investment options available at Ally Invest and Webull, both platforms cater to a broad spectrum of investors but have distinct strengths. Ally Invest stands out with its comprehensive range of offerings, such as mutual funds and advisor services, earning a rating of 4.5 stars for its investment options and securing the 8th rank out of 18 brokers on StockBrokers.com. Webull, on the other hand, appeals to more tech-savvy investors with features like fractional share trading and an extensive selection of 44 cryptocurrencies. Though it garners a 4-star rating and ranks 12th in the same category, it excels in the areas of futures and crypto trading, appealing to a different segment of the market.

Ally Invest offers a robust platform for stock trading, including margin trading and access to OTC stocks, making it ideal for traditional investors seeking a full-service experience. While it lacks in areas like fractional shares and cryptocurrency trading, its inclusion of mutual funds—something not offered by Webull—provides a diversifying advantage for long-term investors. Additionally, Ally Invest supports both traditional and Roth IRA accounts, contributing to its strong appeal among investors planning for retirement.

Conversely, Webull is tailored for modern, active traders who benefit from its democratized trading features. Webull's capability to offer margin trading, options trading, and futures trading positions it as a dynamic platform despite its absence of mutual funds and advisor services. With its emphasis on cryptocurrencies and futures, Webull captures the interest of younger or more adventurous investors. Both Ally Invest and Webull provide traditional and Roth IRA accounts, yet Webull's lack of advisor services might be a limitation for investors seeking tailored investment advice. Ultimately, the choice between these two brokers will largely depend on individual investment goals and preferences.

Feature Ally Invest logoAlly Invest
Webull logoWebull
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info No Yes
OTC Stocks info Yes Yes
Mutual Funds info Yes No
Options Trading info Yes Yes
Futures Trading info No Yes
Crypto Trading info No Yes
Crypto Trading - Total Coins info 0 44
Investment Options 4.5/5 Stars 4/5 Stars

Dive deeper: Best Options Trading Platforms & Brokers, 5 Best Futures Trading Platforms of 2024

Trading platforms and tools

When it comes to trading platforms and tools, Webull surpasses Ally Invest with robust features and broader platform availability, offering a more comprehensive trading experience for users. Webull is highly favored for its advanced tools and functionalities, securing a 4.5-star rating compared to Ally Invest's 3.5-star rating. Furthermore, Webull ranks 8th out of 18 brokers, as reviewed by StockBrokers.com, while Ally Invest is placed at the 11th position. These evaluations highlight Webull's superior offering in comparison with Ally Invest.

Webull distinguishes itself by providing both Windows and Mac downloadable trading platforms, unlike Ally Invest, which only offers a browser-based platform. Webull also includes paper trading, allowing users to practice without financial risk—a feature absent in Ally Invest. When it comes to charting capabilities, Webull supports showing historical trades, corporate events, and offers the ability to adjust open orders directly on a stock chart, enhancing the analytical experience. Ally Invest does not support these features, although it does offer more technical indicators and drawing tools for charting compared to Webull.

Both platforms allow users to add notes and index overlays on charts and support automated technical analysis as well as saving multiple chart profiles. However, Webull excels with customizable features, such as the ability to create custom studies for charts and a higher number of watch list columns, totaling 35, compared to Ally Invest's 10. While Ally Invest provides more customization fields for an SMA study, Webull’s trading platform offers conveniences such as handling open orders on charts, enhancing its practical efficiency for active traders.

Feature Ally Invest logoAlly Invest
Webull logoWebull
Web Trading Platform info Yes Yes
Desktop Trading Platform info No Yes
Desktop Platform (Mac) info No Yes
Paper Trading info No Yes
Watch Lists - Total Fields info 10 35
Charting - Indicators / Studies info 120 52
Charting - Drawing Tools info 36 19
Platforms & Tools 3.5/5 Stars 4.5/5 Stars

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

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Beginners and education

When evaluating the beginner and investor education abilities of Ally Invest and Webull, both platforms offer comprehensive educational resources in several key financial areas. Notably, Ally Invest provides robust educational support, including courses on stocks, ETFs, options, mutual funds, and bonds. However, it falls short in offering interactive features such as paper trading, educational videos, webinars, and quizzes that many beginners find useful for a hands-on learning approach. Despite these limitations, Ally Invest garners a respectable 4-star rating for education, and is ranked #9 out of 18 brokers by StockBrokers.com, reflecting its solid educational offerings tailored toward beginner investors.

Webull, on the other hand, excels in providing a more interactive learning experience for novice investors, with unique features like paper trading and educational quizzes that aid in tracking learning progress. Though it shares similar strengths with Ally Invest in areas such as stock, ETF, and options education, it lacks resources for mutual funds and bonds education. This gap in educational breadth is reflected in its 3-star rating for education and a ranking of #14 among 18 brokers by StockBrokers.com. While both Ally Invest and Webull have distinct educational advantages, each caters to different learning styles, enabling beginners to choose based on their preferred approach to investor education.

Feature Ally Invest logoAlly Invest
Webull logoWebull
Education (Stocks) info Yes Yes
Education (ETFs) info Yes Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info Yes No
Education (Bonds) info Yes No
Paper Trading info No Yes
Videos info No No
Webinars info No No
Education 4/5 Stars 3/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2024

Stock trading apps

In comparing the stock trading app capabilities of Ally Invest and Webull, Webull emerges as a stronger contender. With a higher app rating of 4.5 stars and a #7 ranking among 18 brokers, Webull offers a more comprehensive suite of features, including streaming quotes, stock alerts, and the ability to view charts in landscape mode. Importantly, while both platforms provide mobile options trading and custom watch lists, Webull's ability to deliver an overall more robust experience makes it a preferred choice for traders seeking versatile tools and features.

Both Ally Invest and Webull cater to iPhone and Android users, ensuring a seamless trading experience across devices. However, only Webull extends its reach to Apple Watch users, providing increased accessibility. When it comes to after-hours stock trading, each platform supports this feature on mobile, catering to the needs of traders looking to stay active beyond traditional market hours. Additionally, while both apps offer the ability to create custom watch lists, customization of watch list columns remains unavailable on both platforms.

For traders focused on charting capabilities, Webull offers a competitive advantage with 56 technical studies available in its mobile app, significantly surpassing Ally Invest, which provides none. Webull also enables users to display stock comparisons on charts and supports after-hours charting. This robust charting functionality, combined with the ability to view multiple time frames, positions Webull as a superior choice for users who prioritize technical analysis in their trading strategy.

Feature Ally Invest logoAlly Invest
Webull logoWebull
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No Yes
Stock Alerts info No Yes
Charting - After-Hours info No Yes
Charting - Technical Studies info 0 56
Mobile Trading Apps 4/5 Stars 4.5/5 Stars

Dive deeper: Best Stock Trading Apps of 2024

Fees

When evaluating online brokers Ally Invest and Webull, it is evident that both platforms offer appealing options for investors with no minimum deposit requirements and free regular stock trades. However, there are key differences in their fee structures, particularly concerning options trading and margin balances. Webull takes the lead by offering fee-free options trading, in contrast to Ally Invest's $0.50 per contract charge. While both brokers waive IRA annual fees, Webull also eliminates IRA closure fees, unlike Ally Invest, which imposes a $25 charge for this service. Furthermore, Webull offers more competitive rates for margin balances, highlighting its more cost-effective approach in this area.

Both Ally Invest and Webull are attractive for beginner investors, granting easy entry with $0 regular stock trading fees and no minimum deposit requirement. Nonetheless, more active options traders might find Webull more advantageous, as it allows commission-free options contracts compared to Ally Invest's $0.50 fee per contract. On the other hand, both brokers maintain a balanced approach with free options exercise and assignment fees, but Ally Invest edges out slightly on ACAT transfers with lower charges of $50 for both partial and full transfers versus Webull's $75 fee.

Margin trading with these platforms reveals notable discrepancies in cost. Ally Invest’s interest rates on margin balances are consistently higher across all tiers—13% for balances below $25,000, decreasing slightly to 12% for amounts between $50,000 and $99,999. In contrast, Webull offers more attractive rates of 9.74% for balances under $25,000 and 9.24% for those between $25,000 and $99,999. For investors who frequently engage in margin trading, Webull presents a more economical alternative.

Feature Ally Invest logoAlly Invest
Webull logoWebull
Minimum Deposit $0.00 $0.00
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 $0.00
IRA Closure Fee $25.00 $0.00
Commissions & Fees 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Brokers for Free Stock Trading of 2024

Day Trading

When comparing the day trading features of Ally Invest and Webull, several distinctions arise that are crucial for traders seeking a robust platform. Webull outshines Ally Invest by offering streaming time and sales data for stocks, a feature absence in Ally Invest. Furthermore, Webull supports ladder trading and equips traders with trading hotkeys for swift keyboard entries - tools designed to enhance the trading experience and efficiency, particularly for those engaged in frequent transactions. While both platforms do not provide streaming live TV, direct market routing, or short locator tools, Webull's additional benefits, such as access to level 2 quotes, make it a more attractive option for day traders needing in-depth market analysis.

Neither Ally Invest nor Webull offer basic or advanced strategy backtesting capabilities, nor do they provide order liquidity rebates, slightly limiting their appeal to strategy-driven traders. However, the lack of level 2 quotes and other advanced trading functionalities at Ally Invest may make Webull the superior choice for day traders focused on leveraging detailed market data to inform their trades. Those seeking a platform emphasizing real-time data streaming and trading convenience might find Webull a preferable option over Ally Invest. Despite sharing some limitations, Webull's offering aligns better with the needs of active day traders.

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

Dive deeper: Best Day Trading Platforms of 2024

Market Research

When it comes to market research capabilities, Ally Invest and Webull offer distinct advantages. Ally Invest is generally more comprehensive, particularly for investors focused on diverse asset classes. While both platforms provide stock and ETF research, Ally Invest extends its capabilities to mutual funds and bonds, areas where Webull falls short. Ally Invest's advantage is reflected in its higher market research rating of 4 stars, compared to Webull's 3, as well as its superior ranking at #7 out of 18 brokers by StockBrokers.com, versus Webull’s position at #11.

In terms of feature set, both Ally Invest and Webull offer stock research utilizing social media sentiment, which can be valuable for assessing market trends. Neither offers ESG research or downloadable PDF research reports for stocks or ETFs, though they provide tools like stock and ETF screeners. Ally Invest further distinguishes itself with an ETF screener and the ability to view portfolio allocation by asset class, features absent in Webull. For those needing in-depth market research tools for bonds and comprehensive asset analysis, Ally Invest emerges as the more capable option.

However, Webull shouldn't be overlooked, especially for investors who prioritize a streamlined platform with solid basics. It shares some of the crucial features with Ally Invest, such as stock screeners and research utilizing social sentiment. Despite lacking some depth in asset class diversification and research features, Webull might be suited for investors focused more narrowly on stocks and ETFs without the need for mutual funds or bond insights.

Feature Ally Invest logoAlly Invest
Webull logoWebull
Research - Stocks info Yes Yes
Screener - Stocks info Yes Yes
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 Webull, Ally Invest stands out with a comprehensive suite of banking services that includes checking and savings accounts, offering customers both debit and credit cards. Additionally, Ally Invest provides mortgage loans and Certificates of Deposit (CDs), making it a versatile choice for individuals seeking a full spectrum of banking options. In contrast, Webull does not provide any of these traditional banking services, as it lacks checking and savings accounts, debit and credit cards, mortgage loans, and CDs, focusing solely on brokerage services.

Feature Ally Invest logoAlly Invest
Webull logoWebull
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 Brokerages of 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 Webull. Ally Invest finished with an overall score of 83.8%, while Webull finished with a score of 84.9%.

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 Webull?

When comparing Ally Invest and Webull for crypto trading, Webull stands out by offering cryptocurrency trading with 44 coins, whereas Ally Invest does not offer any crypto trading options.

Dive deeper: Best Crypto Trading Platforms of 2024

Does Ally Invest or Webull offer IRAs?

Both Ally Invest and Webull offer traditional and Roth IRA accounts with no annual fees, but while Ally Invest charges a $25 closure fee for IRA accounts, Webull allows closures without any fees.

Dive deeper: Best IRA Accounts of 2024

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Compare

0 of 5
Overall Rating Ally Invest Webull
Overall 4/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4/5 Stars
Platforms & Tools 3.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 4/5 Stars 4.5/5 Stars
Research 4/5 Stars 3/5 Stars
Customer Service 4/5 Stars 3.0/5 Stars
Education 4/5 Stars 3/5 Stars
Ease Of Use 4.5/5 Stars 4.5/5 Stars
Winner check_circle
Review Ally Invest Review Webull Review
Broker Screenshots Ally Invest Webull
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 Webull
Minimum Deposit $0.00 $0.00
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) $1.25 info
Broker Assisted Trade Fee $20 N/A
Margin Rates Ally Invest Webull
Margin Rate Under $25,000 13% 9.74%
Margin Rate $25,000 to $49,999.99 12.75% 9.24%
Margin Rate $50,000 to $99,999.99 12% 9.24%
Margin Rate $100,000 to $249,999.99 10.75% 8.74%
Margin Rate $250,000 to $499,999.99 9.75% 8.24%
Margin Rate $500,000 to $999,999.99 9.25% 7.24%
Margin Rate Above $1,000,000 8.5% 6.74% info
Account Fees Ally Invest Webull
IRA Annual Fee $0.00 $0.00
IRA Closure Fee $25.00 $0.00
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 Webull
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info No Yes
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 4
Futures Trading info No Yes
Forex Trading info No No
Crypto Trading info No Yes
Crypto Trading - Total Coins info 0 44
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 Yes
Roth IRAs info Yes Yes
Advisor Services info Yes No
International Countries (Stocks) info 0 0
Order Types Ally Invest Webull
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 No Yes
Order Type - OCO info No Yes
Order Type - OTO info No Yes
Order Type - Broker Assisted info Yes No
Beginners Ally Invest Webull
Education (Stocks) info Yes Yes
Education (ETFs) info Yes Yes
Education (Options) info Yes Yes
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 Yes
Paper Trading info No Yes
Videos info No No
Webinars info No No
Webinars (Archived) info Yes No
Progress Tracking info No Yes
Interactive Learning - Quizzes info No Yes
Stock Trading Apps Ally Invest Webull
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No Yes
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 No Yes
Stock App Features Ally Invest Webull
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No No
Videos on Demand info No No
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 Webull
Charting - After-Hours info No Yes
Charting - Can Turn Horizontally info No Yes
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 0 56
Charting - Study Customizations info No Yes
Charting - Stock Comparisons info No Yes
Trading Platforms Ally Invest Webull
Active Trading Platform info N/A N/A
Desktop Trading Platform info No Yes
Desktop Platform (Mac) info No Yes
Web Trading Platform info Yes Yes
Paper Trading info No Yes
Trade Journal info No No
Watch Lists - Total Fields info 10 35
Stock Chart Features Ally Invest Webull
Charting - Adjust Trades on Chart info No Yes
Charting - Indicators / Studies info 120 52
Charting - Drawing Tools info 36 19
Charting - Notes info Yes Yes
Charting - Index Overlays info Yes Yes
Charting - Historical Trades info No Yes
Charting - Corporate Events info No Yes
Charting - Custom Date Range info No No
Charting - Custom Time Bars info No No
Charting - Automated Analysis info Yes Yes
Charting - Save Profiles info Yes Yes
Trade Ideas - Technical Analysis info Yes No
Charting - Study Customizations info 8 2
Charting - Custom Studies info No Yes
Day Trading Ally Invest Webull
Streaming Time & Sales info No Yes
Streaming TV info No No
Direct Market Routing - Stocks info No No
Ladder Trading info No Yes
Trade Hotkeys info No Yes
Level 2 Quotes - Stocks info No Yes
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 Webull
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info Yes No
Research - Pink Sheets / OTCBB info Yes Yes
Research - Bonds info Yes No
Screener - Stocks info Yes Yes
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 Webull
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 No
Stock Research - SEC Filings info No Yes
ETF Research Ally Invest Webull
ETFs - Strategy Overview info Yes Yes
ETF Fund Facts - Inception Date info No Yes
ETF Fund Facts - Expense Ratio info Yes Yes
ETF Fund Facts - Net Assets info Yes Yes
ETF Fund Facts - Total Holdings info No Yes
ETFs - Top 10 Holdings info Yes No
ETFs - Sector Exposure info No Yes
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 Webull
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 Yes
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 Webull
Option Chains - Basic View info Yes Yes
Option Chains - Strategy View info Yes Yes
Option Chains - Streaming info Yes No
Option Chains - Total Columns info 8 23
Option Chains - Greeks info 5 5
Option Chains - Quick Analysis info Yes Yes
Option Analysis - P&L Charts info No Yes
Option Probability Analysis info Yes Yes
Option Probability Analysis Adv info No Yes
Option Positions - Greeks info Yes Yes
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 Webull
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 Webull
Phone Support (Prospect Customers) info Yes Yes
Phone Support (Current Customers) info Yes Yes
Email Support info Yes Yes
Live Chat (Prospect Customers) info No No
Live Chat (Current Customers) info Yes No
24/7 Support info Yes Yes
Overall Ally Invest Webull
Overall 4/5 Stars 4/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 4/5 Stars
Platforms & Tools 3.5/5 Stars 4.5/5 Stars
Mobile Trading Apps 4/5 Stars 4.5/5 Stars
Research 4/5 Stars 3/5 Stars
Education 4/5 Stars 3/5 Stars
Ease Of Use 4.5/5 Stars 4.5/5 Stars
Winner check_circle
Review Ally Invest Review Webull Review
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