Ally Invest was founded in 2005 and serves 11 million customers through its suite of investing and financial services products. The brokerage is regulated by the US SEC with FINRA and SIPC membership. The company has a substantial $197 billion in assets under management (AUM).
Acorns is a US-based investment platform launched in 2012. This SEC-registered firm aims to make investing more accessible for anyone looking to start small, catering to a range of savings goals. With over 9 million clients, the firm has earned a strong reputation and is backed by a number of well-known investors and economists.
Bonus Offer
$5
Comment by Reviewer
"Ally Invest is an all-in-one financial solution suitable for traders of all experience levels with self-directed and managed trading accounts alongside online banking, financial advice, credit cards and loans."
"Acorns will meet the needs of US traders looking for flexible investment portfolios with simple flat fees and low entry requirements."
Pros
Responsive customer support available 24/7 with local and international telephone help, live chat and email
Free demo account with $50,000 virtual funds and access to all platforms and tools
Competitive fees including commission-free trading on eligible US stocks and ETFs
Managed portfolios tailored to financial goals and risk appetite
Regulated by the SEC and a member of the SIPC
Online educational content and financial advice
High-quality proprietary web trading platform
You can reinvest dividends through DRIP
Leveraged trading up to $1 million
Access to MetaTrader 4
Acorns Visa debit card included with all subscriptions plus a banking and investing app
Earn bonus investments from popular brands when you shop their offers using your Acorns card
Strong regulation from the SEC and membership with FINRA/SIPC, plus FDIC insurance up to $250,000
Flat $3 monthly fee, plus no hidden charges, minimum balance fees or overdraft penalties
Five risk levels from Conservative to Aggressive and a range of savings accounts
Bitcoin-linked ETF offering exposure without owning BTC
Welcome bonuses and financial incentives
Cons
Some features such as the stock screener are not available on the mobile app
Deposits and withdrawals limited to wire transfers or cheques only
Forex trading is available on a separate account
Only US stocks are available
Cannot manually change or choose investments
Narrow choice of trading instruments with no forex
Monthly fee might be high for those with smaller balances
Ally Invest offers 50+ currency pairs with access to MetaTrader 4 and the Ally Invest Forex Advanced Desktop platforms. Spreads compare well to alternatives with a good range of majors, minors and exotics.
