Ally Invest vs Webull 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.
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.
When comparing Ally Invest and Webull, it's evident that both online brokers offer comprehensive platforms for diverse investment needs but vary in specialization and features. Ally Invest stands out with a higher focus on traditional investment vehicles, earning a 4.5-star rating and an impressive #8 ranking from StockBrokers.com for investment options. While Webull shines with its modern trading approaches like offering fractional shares and futures trading, Ally Invest caters more to investors interested in established avenues such as mutual funds and advisor services.
Ally Invest provides a broad range of investment options, including stock trading, margin trading, options trading, OTC stocks, and mutual funds. Notably, Ally Invest is ideal for investors interested in mutual fund trading and those seeking advisor services to guide their investment decisions. Additionally, it offers traditional and Roth IRA accounts, accommodating those planning for retirement within a more advisory-focused framework.
Webull, on the other hand, appeals to tech-savvy investors interested in fractional shares and futures trading, offering innovative investment approaches to diversify a portfolio. While it does not support mutual funds, Webull still allows for stock, margin, and options trading, along with access to OTC stocks. Webull also supports traditional and Roth IRA accounts, making it suitable for self-directed investors looking for a straightforward, digitally driven trading experience without advisor services.
Feature |
Ally Invest
|
Webull
|
---|---|---|
Stock Trading | Yes | Yes |
Margin Trading | Yes | Yes |
Fractional Shares | No | Yes |
OTC Stocks | Yes | Yes |
Mutual Funds | Yes | No |
Options Trading | Yes | Yes |
Futures Trading | No | Yes |
Crypto Trading | No | No |
Crypto Trading - Total Coins | 0 | 0 |
Investment Options |
Dive deeper: Best Options Trading Platforms for 2024, Best Futures Trading Platforms for 2024
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
|
Webull
|
---|---|---|
Web Trading Platform | Yes | Yes |
Desktop Trading Platform | No | Yes |
Desktop Platform (Mac) | No | Yes |
Paper Trading | No | Yes |
Watch Lists - Total Fields | 10 | 35 |
Charting - Indicators / Studies | 120 | 52 |
Charting - Drawing Tools | 36 | 19 |
Platforms & Tools |
Dive deeper: Best Stock Brokers & Trading Platforms for 2024, Best Paper Trading Platforms for 2024
Ally Invest and Webull both provide a range of educational resources for beginner investors, albeit with differing strengths. Ally Invest offers comprehensive education across a variety of investment types, including stocks, ETFs, options, mutual funds, and bonds, and is rated 4 out of 5 stars for its educational offerings. However, it lacks interactive and digital learning tools such as paper trading, webinars, educational videos, quizzes, and progress tracking, which some investors may find beneficial for an engaging learning experience. Despite these limitations, Ally Invest remains a strong choice, ranking 9th in education among 18 brokers surveyed by StockBrokers.com.
Webull, on the other hand, excels in offering digital and interactive learning tools that are highly valuable for engaging and practical learning. It provides paper trading, educational videos, webinars, quizzes, and the capability for users to track their learning progress, making it particularly appealing to beginners who learn through doing. While Webull does not cover mutual funds and bonds education, it does provide essential resources for stocks, ETFs, and options, and is rated 3 out of 5 stars for education. Ranked 14th by StockBrokers.com, Webull is a viable choice for those who prioritize interactive learning even though it has fewer comprehensive educational resources compared to Ally Invest.
Feature |
Ally Invest
|
Webull
|
---|---|---|
Education (Stocks) | Yes | Yes |
Education (ETFs) | Yes | Yes |
Education (Options) | Yes | Yes |
Education (Mutual Funds) | Yes | No |
Education (Bonds) | Yes | No |
Paper Trading | No | Yes |
Videos | No | Yes |
Webinars | No | Yes |
Education |
Dive deeper: Best Stock Trading Platforms for Beginners of 2024
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
|
Webull
|
---|---|---|
iPhone App | Yes | Yes |
Android App | Yes | Yes |
Apple Watch App | No | Yes |
Stock Alerts | No | Yes |
Charting - After-Hours | No | Yes |
Charting - Technical Studies | 0 | 56 |
Mobile Trading Apps |
Dive deeper: Best Stock Trading Apps for 2024
When deciding between Ally Invest and Webull, investors will find several points of comparison that may influence their decision. Both platforms offer commission-free trading on stocks and set a minimum deposit requirement of $0, making them attractive to traders looking for cost-efficient entry points. However, notable differences arise with options trading fees, where Ally Invest charges $0.50 per contract, while Webull offers them at no cost. Additionally, when it comes to margin rates, Ally Invest's fees are notably higher across all balance tiers compared to Webull, making Webull a potentially less costly option for those interested in leveraged investing.
Further examining account-related fees, both Ally Invest and Webull waive fees for IRA annual maintenance, and Ally Invest imposes a $25 charge for closing an IRA, while Webull does not charge any fees for the same service. In the realm of account transfers, Ally Invest charges $50 for both partial and full ACAT transfers, compared to Webull’s steeper charge of $75 for these transactions. Despite these differences, both platforms do not charge for options exercise or assignment, which could appeal to traders active in options.
In summary, while both Ally Invest and Webull provide zero-cost stock trading and no minimum deposit requirement, prospective users should consider their individual preferences and trading activities when choosing between them. For those who engage heavily in options trading or employ significant margin borrowing, Webull may offer a more cost-effective solution. Conversely, Ally Invest provides competitive IRA and ACAT transfer fees that could suit investors who prioritize these services.
Feature |
Ally Invest
|
Webull
|
---|---|---|
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 |
Dive deeper: Best Free Trading Platforms for 2024
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
|
Webull
|
---|---|---|
Streaming Time & Sales | No | Yes |
Streaming TV | No | No |
Direct Market Routing - Stocks | No | No |
Level 2 Quotes - Stocks | No | Yes |
Trade Ideas - Backtesting | No | No |
Trade Ideas - Backtesting Adv | No | No |
Short Locator | No | No |
Dive deeper: Best Day Trading Platforms for 2024
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
|
Webull
|
---|---|---|
Research - Stocks | Yes | Yes |
Screener - Stocks | Yes | Yes |
Research - ETFs | Yes | Yes |
Screener - ETFs | Yes | No |
Research - Mutual Funds | Yes | No |
Screener - Mutual Funds | No | No |
Research - Bonds | Yes | No |
Screener - Bonds | Yes | No |
Research |
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
|
Webull
|
---|---|---|
Checking Accounts | Yes | No |
Savings Accounts | Yes | No |
Debit Cards | Yes | No |
Credit Cards | Yes | No |
Mortgage Loans | Yes | No |
CDs | Yes | No |
Dive deeper: Best Bank Accounts for Trading Stocks for 2024
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.
When comparing Ally Invest to Webull in terms of cryptocurrency trading, neither platform offers crypto trading options, with both providing access to 0 coins.
Dive deeper: Best Online Brokers for Crypto Trading in 2024
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 for 2024
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0 of 5Overall Rating | Ally Invest | Webull | |
---|---|---|---|
Overall | |||
Commissions & Fees | |||
Investment Options | |||
Platforms & Tools | |||
Mobile Trading Apps | |||
Research | |||
Customer Service | |||
Education | |||
Ease Of Use | |||
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) | $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 | |
Broker Assisted Trade Fee | $20 | N/A |
Margin Rates | Ally Invest | Webull | |
---|---|---|---|
Margin Rate Under $25,000 | 13% | 9.24% | |
Margin Rate $25,000 to $49,999.99 | 12.75% | 8.74% | |
Margin Rate $50,000 to $99,999.99 | 12% | 8.24% | |
Margin Rate $100,000 to $249,999.99 | 10.75% | 7.74% | |
Margin Rate $250,000 to $499,999.99 | 9.75% | 7.74% | |
Margin Rate $500,000 to $999,999.99 | 9.25% | 6.74% | |
Margin Rate Above $1,000,000 | 8.5% | 6.24% |
Account Fees | Ally Invest | Webull | |
---|---|---|---|
IRA Annual Fee | $0.00 | $0.00 | |
IRA Closure Fee | $25.00 | $0.00 | |
Account Transfer Out (Partial) | $50.00 | $75.00 | |
Account Transfer Out (Full) | $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 | Yes | Yes | |
Margin Trading | Yes | Yes | |
Fractional Shares | No | Yes | |
OTC Stocks | Yes | Yes | |
Options Trading | Yes | Yes | |
Complex Options Max Legs | 4 | 4 | |
Futures Trading | No | Yes | |
Forex Trading | No | No | |
Crypto Trading | No | No | |
Crypto Trading - Total Coins | 0 | 0 | |
Mutual Funds (No Load) | 13000 | 0 | |
Mutual Funds (Total) | 14000 | 0 | |
Bonds (US Treasury) | Yes | No | |
Bonds (Corporate) | Yes | No | |
Bonds (Municipal) | Yes | No | |
Traditional IRAs | Yes | Yes | |
Roth IRAs | Yes | Yes | |
Advisor Services | Yes | No | |
International Countries (Stocks) | 0 | 0 |
Order Types | Ally Invest | Webull | |
---|---|---|---|
Order Type - Market | Yes | Yes | |
Order Type - Limit | Yes | Yes | |
Order Type - After Hours | Yes | Yes | |
Order Type - Stop | Yes | Yes | |
Order Type - Trailing Stop | No | Yes | |
Order Type - OCO | No | Yes | |
Order Type - OTO | No | Yes | |
Order Type - Broker Assisted | Yes | No |
Beginners | Ally Invest | Webull | |
---|---|---|---|
Education (Stocks) | Yes | Yes | |
Education (ETFs) | Yes | Yes | |
Education (Options) | Yes | Yes | |
Education (Mutual Funds) | Yes | No | |
Education (Bonds) | Yes | No | |
Education (Retirement) | Yes | No | |
Retirement Calculator | No | No | |
Investor Dictionary | Yes | Yes | |
Paper Trading | No | Yes | |
Videos | No | Yes | |
Webinars | No | Yes | |
Webinars (Archived) | Yes | Yes | |
Progress Tracking | No | Yes | |
Interactive Learning - Quizzes | No | Yes |
Stock Trading Apps | Ally Invest | Webull | |
---|---|---|---|
iPhone App | Yes | Yes | |
Android App | Yes | Yes | |
Apple Watch App | No | Yes | |
Trading - Stocks | Yes | Yes | |
Trading - After-Hours | Yes | Yes | |
Trading - Simple Options | Yes | Yes | |
Trading - Complex Options | Yes | Yes | |
Order Ticket RT Quotes | Yes | Yes | |
Order Ticket SRT Quotes | No | Yes |
Stock App Features | Ally Invest | Webull | |
---|---|---|---|
Market Movers (Top Gainers) | Yes | Yes | |
Stream Live TV | No | No | |
Videos on Demand | No | No | |
Stock Alerts | No | Yes | |
Option Chains Viewable | Yes | Yes | |
Watch List (Real-time) | Yes | Yes | |
Watch List (Streaming) | No | Yes | |
Watch Lists - Create & Manage | Yes | Yes | |
Watch Lists - Column Customization | No | No |
Stock App Charting | Ally Invest | Webull | |
---|---|---|---|
Charting - After-Hours | No | Yes | |
Charting - Can Turn Horizontally | No | Yes | |
Charting - Multiple Time Frames | Yes | Yes | |
Charting - Technical Studies | 0 | 56 | |
Charting - Study Customizations | No | Yes | |
Charting - Stock Comparisons | No | Yes |
Trading Platforms | Ally Invest | Webull | |
---|---|---|---|
Active Trading Platform | N/A | N/A | |
Desktop Trading Platform | No | Yes | |
Desktop Platform (Mac) | No | Yes | |
Web Trading Platform | Yes | Yes | |
Paper Trading | No | Yes | |
Trade Journal | No | No | |
Watch Lists - Total Fields | 10 | 35 |
Stock Chart Features | Ally Invest | Webull | |
---|---|---|---|
Charting - Adjust Trades on Chart | No | Yes | |
Charting - Indicators / Studies | 120 | 52 | |
Charting - Drawing Tools | 36 | 19 | |
Charting - Notes | Yes | Yes | |
Charting - Index Overlays | Yes | Yes | |
Charting - Historical Trades | No | Yes | |
Charting - Corporate Events | No | Yes | |
Charting - Custom Date Range | No | No | |
Charting - Custom Time Bars | No | No | |
Charting - Automated Analysis | Yes | Yes | |
Charting - Save Profiles | Yes | Yes | |
Trade Ideas - Technical Analysis | Yes | No | |
Charting - Study Customizations | 8 | 2 | |
Charting - Custom Studies | No | Yes |
Day Trading | Ally Invest | Webull | |
---|---|---|---|
Streaming Time & Sales | No | Yes | |
Streaming TV | No | No | |
Direct Market Routing - Stocks | No | No | |
Ladder Trading | No | Yes | |
Trade Hotkeys | No | Yes | |
Level 2 Quotes - Stocks | No | Yes | |
Trade Ideas - Backtesting | No | No | |
Trade Ideas - Backtesting Adv | No | No | |
Short Locator | No | No | |
Order Liquidity Rebates | No | No |
Research Overview | Ally Invest | Webull | |
---|---|---|---|
Research - Stocks | Yes | Yes | |
Research - ETFs | Yes | Yes | |
Research - Mutual Funds | Yes | No | |
Research - Pink Sheets / OTCBB | Yes | Yes | |
Research - Bonds | Yes | No | |
Screener - Stocks | Yes | Yes | |
Screener - ETFs | Yes | No | |
Screener - Mutual Funds | No | No | |
Screener - Bonds | Yes | No | |
Misc - Portfolio Allocation | Yes | No |
Stock Research | Ally Invest | Webull | |
---|---|---|---|
Stock Research - PDF Reports | 0 | 0 | |
Stock Research - Earnings | No | Yes | |
Stock Research - Insiders | Yes | Yes | |
Stock Research - Social | Yes | Yes | |
Stock Research - News | Yes | Yes | |
Stock Research - ESG | No | No | |
Stock Research - SEC Filings | No | Yes |
ETF Research | Ally Invest | Webull | |
---|---|---|---|
ETFs - Strategy Overview | Yes | Yes | |
ETF Fund Facts - Inception Date | No | Yes | |
ETF Fund Facts - Expense Ratio | Yes | Yes | |
ETF Fund Facts - Net Assets | Yes | Yes | |
ETF Fund Facts - Total Holdings | No | Yes | |
ETFs - Top 10 Holdings | Yes | Yes | |
ETFs - Sector Exposure | No | Yes | |
ETFs - Risk Analysis | No | No | |
ETFs - Ratings | Yes | Yes | |
ETFs - Morningstar StyleMap | No | No | |
ETFs - PDF Reports | No | No |
Mutual Fund Research | Ally Invest | Webull | |
---|---|---|---|
Mutual Funds - Strategy Overview | Yes | No | |
Mutual Funds - Performance Chart | Yes | No | |
Mutual Funds - Performance Analysis | No | No | |
Mutual Funds - Prospectus | No | No | |
Mutual Funds - 3rd Party Ratings | Yes | No | |
Mutual Funds - Fees Breakdown | No | No | |
Mutual Funds - Top 10 Holdings | Yes | Yes | |
Mutual Funds - Asset Allocation | No | No | |
Mutual Funds - Sector Allocation | Yes | No | |
Mutual Funds - Country Allocation | No | No | |
Mutual Funds - StyleMap | No | No |
Options Trading | Ally Invest | Webull | |
---|---|---|---|
Option Chains - Basic View | Yes | Yes | |
Option Chains - Strategy View | Yes | Yes | |
Option Chains - Streaming | Yes | No | |
Option Chains - Total Columns | 8 | 23 | |
Option Chains - Greeks | 5 | 5 | |
Option Chains - Quick Analysis | Yes | Yes | |
Option Analysis - P&L Charts | No | Yes | |
Option Probability Analysis | Yes | Yes | |
Option Probability Analysis Adv | No | Yes | |
Option Positions - Greeks | Yes | Yes | |
Option Positions - Greeks Streaming | No | No | |
Option Positions - Adv Analysis | No | No | |
Option Positions - Rolling | No | Yes | |
Option Positions - Grouping | Yes | No |
Banking | Ally Invest | Webull | |
---|---|---|---|
Bank (Member FDIC) | Yes | No | |
Checking Accounts | Yes | No | |
Savings Accounts | Yes | No | |
Credit Cards | Yes | No | |
Debit Cards | Yes | No | |
Mortgage Loans | Yes | No |
Customer Service | Ally Invest | Webull | |
---|---|---|---|
Phone Support (Prospect Customers) | Yes | Yes | |
Phone Support (Current Customers) | Yes | Yes | |
Email Support | Yes | Yes | |
Live Chat (Prospect Customers) | No | No | |
Live Chat (Current Customers) | Yes | No | |
24/7 Support | Yes | No |
Overall | Ally Invest | Webull | |
---|---|---|---|
Overall | |||
Commissions & Fees | |||
Investment Options | |||
Platforms & Tools | |||
Mobile Trading Apps | |||
Research | |||
Education | |||
Ease Of Use | |||
Winner | check_circle | ||
Review | Ally Invest Review | Webull Review |