Introduction
When it comes to investing, choosing the right platform is crucial. One of the most popular online brokers is Ally Investments, which offers a range of investment products and services. In this article, we’ll be reviewing Ally Investments in 2023, exploring its features, pros, and cons, and helping you decide whether it’s the right fit for your investment needs.
What is Ally Investments?
Ally Investments is an online brokerage platform that offers a range of investment products, including stocks, bonds, options, and mutual funds. It’s a subsidiary of Ally Financial, a leading digital financial services company that provides online banking, auto financing, and home loans.
Features
Investment Products
Ally Investments offers a wide range of investment products, including:
- Stocks
- Bonds
- Options
- Mutual funds
Trading Platform
Ally Invest’s trading platform is user-friendly and easy to navigate. It offers a range of tools and features to help you make informed investment decisions, including:
- Real-time quotes and charts
- Customizable watchlists
- Advanced order types
- Research and analysis tools
Mobile App
Ally Invest’s mobile app is available for both iOS and Android devices. It allows you to trade on-the-go, access real-time market data and news, and manage your account from anywhere.
Customer Support
Ally Invest offers 24/7 customer support via phone, email, and live chat. Their support team is knowledgeable and responsive, and can help you with any questions or issues you may have.
Pros
- Low fees and commissions
- User-friendly trading platform
- Wide range of investment products
- 24/7 customer support
Cons
- No commission-free ETFs
- Limited research and analysis tools
- No physical branches
How to Open an Account
Opening an account with Ally Invest is quick and easy. You’ll need to provide some basic personal and financial information, including your name, address, social security number, and employment status. You’ll also need to fund your account with a minimum deposit of $1000.
Final Thoughts
Overall, Ally Investments is a solid choice for investors who are looking for a low-cost, user-friendly online brokerage platform. With a wide range of investment products, a user-friendly trading platform, and 24/7 customer support, Ally Invest is a great option for both beginner and experienced investors.
However, it’s important to keep in mind the platform’s limitations, including the lack of commission-free ETFs and limited research and analysis tools. Make sure to carefully consider your investment needs and goals before choosing Ally Invest or any other online broker.
