Ally - Best with banking products
Ally Invest's $0 account minimum and $0 trading fees on eligible US securities make it a great choice for all traders. The low $0.50 options contract fee will attract option traders. Ally Invest is suitable for both novice investors and experienced stock traders alike with no trading fees, no minimum account, and low-cost options trading on eligible U.S. securities. Ally not only competes with the big online brokers in terms of cost, but also offers bells and whistles.
While uninvested cash in Ally Invest brokerage accounts, such as Forex trading, automatic portfolio management options and a set of free tools for tech investors, does not accrue interest, Ally Invest offers instant fund transfers between Ally's savings and brokerage accounts, so investors can take advantage of interest rates that are many times higher than the typical base rate of most brokerage firms.
However, this requires a separate Ally savings account. While mutual funds provide an easy way to build a diverse portfolio, Ally Invest offers mutual funds with no transaction fees. You may have to look elsewhere to schedule a face-to-face meeting. We chose Ally as the best banking app because it gives you access to your bank and trading accounts from one easy-to-use platform.
Reasons to buy
- +pair bank accounts with your investments in one app
- +user-friendly stock trades
- +simple and easy to use and manage
Reasons to avoid
- -mobile app research somewhat limited
- -some advanced traders may find trading tools limited
Website: https://www.ally.com/
