Update: May 2017. TradeKing has been acquired by Ally Bank and is now known as Ally Invest. Ally Invest offers the same great pricing and features as TradeKing, and also offers the ability for customers to link their account to their Ally Bank savings account. This merger gives customers a convenient way to have two best of class financial services under one roof!
Ally Bank acquired TradeKing in 2016 and completed the merger in early 2017. With that came the rebranding as Ally Invest. Current TradeKing members will need to log into their account to complete the transition to their new Ally Invest account before they will be able to make trades in their account.
TradeKing frequently offered promotions and bonuses for new customers, including free trades, sign up bonuses, referral bonuses, and ACAT transfer fee reimbursements. The merger is still too new to know if Ally Invest will offer similar bonuses or offers. But we will update this page with these offers as soon as information becomes available.
For now, we will share some of the information about Ally Invest’s pricing and features.
Ally Invest – a Tradition of Excellence
Ally Invest (formerly TradeKing) has consistently been rated as one of the leading online discount brokers. Ally Investcarries over the same features and pricing structures that were available under the TradeKing platform. So we expect Ally Invest to continue to be rated high on our list.
Ally Invest brings a mix of great prices, a robust trading platform, and excellent trading tools. Here is a top level overview.
Ally Invest: Top Rated Discount Broker. TradeKing has been rated 4 stars by Barron’s in each annual ranking since 2007 – 10 years running! TradeKing was also rated the #1 online broker for usability in 2011. TradeKing was ranked as the #1 Discount Broker in SmartMoney Magazine’s 2007 Broker survey. More recently, SmartMoney Magazine ranked TradeKing as the #4 overall discount broker in 2011, and #1 in Customer Service in 2008, 2010, and 2011.
TradeKing is also well known for their $4.95 trades and $0.65 option contracts, both among the lowest in the industry. TradeKing offers live customer support, free trading tools, and an online community where traders and investors can share tips and ideas. You can learn more about Ally Invest (formerly TradeKing) in our full review.
Ally Invest Pricing & Features
Ally Invest brings a tradition of competitive pricing and excellent features.
Ally Invest Pricing:
Here are some of the top rated brokerage firms and their pricing structures:
|Discount Brokerage Firm||Cost Per|
|Ally Invest||$4.95||$4.95 + $0.65||Ally Invest Review (Formerly TradeKing)|
|E*TRADE||$6.95||$6.95 + $0.75||E*TRADE Review|
|TD Ameritrade||$6.95||$6.95 + $0.75||TD Ameritrade Review|
|OptionsHouse||$4.95||$4.95 + $0.50||OptionsHouse Review|
|Scottrade||$7.00||$7.00 + $0.70||Scottrade Review|
|Firstrade||$4.95||$4.95 + $0.65||Firstrade Review|
|OptionsXpress||$8.95||$12.95 minimum; $1.25 per contract, |
for more than 10 (active trader rates,
see site for other pricing).
|Capital One Investing|
|$6.95||$6.95 + $0.75||ShareBuilder Review|
Ally Invest Features:
Ally Invest includes the following features:
- Low cost stock trades (see above for pricing)
- Ability to open Roth IRAs, traditional IRAs, Coverdell ESA accounts for college savings, and a regular taxable brokerage account, joint accounts, and more.
- Invest in Stocks, Bonds, Mutual Funds, ETFs, options trades, and even FOREX (foreign currencies).
- Education and Training section
- Tax manager to track cost basis, trades, dividends, and additional information
Ally Invest Promotions and Bonus Offers
Hopefully Ally Invest will be as aggressive with promotional offers as TradeKing was. TradeKing offered frequent promotions, including sign up and referral bonuses, free stock trades, and ACAT transfer fee reimbursements.