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).
Betterment is a US wealth management and investing company, offering a range of account options, portfolios and ETFs. Established in 2010, the firm has over 800,000 customers and $40+ billion in AUM. With self-directed trading alongside pre-made investment portfolios, savings accounts and debit cards, Betterment caters to a range of financial goals.
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."
"Betterment is one of the most trusted robo-advisors on the market. It’s great if you want to invest and save for the long-term, especially for new investors looking for a low starting investment and competitive fees."
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
Transparent pricing - $4 a month or 0.25% annually for automated investment services
User-friendly and modern platform makes it easy to set goals and track portfolio performance
SEC-registered investment advisor with SIPC protection up to $500,000 coverage per account
Expert insights, investment articles, financial news and product guides available
Pre-built portfolios with auto-rebalancing and reinvestments
No minimum balance makes the firm suitable for beginners
Automated and optimized tax strategies
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
Access to personalized services and guidance has a $100,000 minimum investment
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.
