TD Ameritrade vs Ally Invest
Is TD Ameritrade better than Ally Invest? After testing 27 of the best forex brokers over five months, TD Ameritrade is better than TD Ameritrade. With over 70 currency pairs to trade alongside a plethora of tools, research, and education, TD Ameritrade’s think or swim platform provides US-based forex traders the ultimate trading technology experience.
Select Comparisons
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- Interactive Brokers vs eToro
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- Interactive Brokers vs OANDA
- Interactive Brokers vs Saxo Bank
- Interactive Brokers vs TD Ameritrade
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- OANDA vs Ally Invest
- OANDA vs ATC Brokers
- OANDA vs TradeStation
- Saxo Bank vs Ally Invest
- Saxo Bank vs ATC Brokers
- Saxo Bank vs OANDA
- Saxo Bank vs TD Ameritrade
- Saxo Bank vs TradeStation
- TD Ameritrade vs Ally Invest
- TD Ameritrade vs ATC Brokers
- TD Ameritrade vs OANDA
- TD Ameritrade vs TradeStation
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Overall Rating
| Feature | TD Ameritrade | Ally Invest |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Trust Score | 98 | 98 |
| TD Ameritrade Review | Ally Invest Review | |
| Winner | ||
| N/A of retail CFD accounts lose money | N/A of retail CFD accounts lose money |
Regulation
| Feature | TD Ameritrade | Ally Invest |
| Trust Score | 98 | 98 |
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Year Founded The year the firm was founded.
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1955 | 1955 |
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Publicly Traded (Listed) Directly or indirectly traded-publicly and listed on a stock exchange.
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Bank Is a regulated bank.
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Tier-1 Licenses Number of tier-1 (high trust) licenses.
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5 | 5 |
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Tier-2 Licenses Number of tier-2 (high trust) licenses.
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0 | 0 |
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Tier-3 Licenses Number of tier-3 (high trust) licenses.
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0 | 0 |
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Authorised in the European Union Authorised by an EU-member state with MiFID Passports to other member states.
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RTier-1 Licenses (High Trust)
| Feature | TD Ameritrade | Ally Invest |
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ASIC Authorised (Australia) Regulated by the Australian Securities & Investment Commission (ASIC).
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IIROC Authorised (Canada) Regulated by IIROC or other Canadian Province Regulator.
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SFC Authorised (Hong Kong) Regulated by the Securities Futures Commission (SFC) in Hong Kong.
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FSA Authorised (Japan) Regulated by the Japanese Financial Services Authority (JFSA).
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MAS Authorised (Singapore) Regulated by the Monetary Authority of Singapore (MAS).
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FINMA Authorised (Switzerland) Regulated by the Swiss Financial Market Supervisory Authority (FINMA).
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FCA Authorised (UK) Authorised or Regulated by the Financial Conduct Authority (FCA) in the United Kingdom.
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CFTC Registered (USA) Registered by the CFTC and regulated by the NFA as a member in the United States.
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Investment
| Feature | TD Ameritrade | Ally Invest |
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Forex Trading Trading forex as a CFD or spot contract.
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CFDs (Total) Number of Contract for Difference (CFDs) available.
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0 | 0 |
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Forex Pairs (Total) Total number of forex pairs (CFDs or spot contracts) available, e.g., EUR/USD.
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73 | 73 |
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Cryptocurrency (Physical) Offers ability to buy actual (delivered) cryptocurrency (not CFD) with wallet storage.
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Cryptocurrency (CFD) Offers ability to trade (buy and sell) crytocurrency as CFD (non-deliverable). Note: Crypto CFDs are not available to UK residents or traders using a broker's UK entity.
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Social Trading / Copy-Trading Platform that allows traders to follow signals or copy the trades of other users.
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Cost
| Feature | TD Ameritrade | Ally Invest |
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Average Spread EUR/USD - Standard Average spread for the EUR/USD pair for standard accounts.
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1.065 pips (Sep 2019) | 1.065 pips (Sep 2019) |
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All-in Cost EUR/USD - Active EUR/USD all-in spread including commission for best pricing available for Active Traders.
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1.065 pips (Sep 2019) | 1.065 pips (Sep 2019) |
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Active Trader or VIP Discounts Broker offers premium services, discounts or rebates to clients.
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Funding
| Feature | TD Ameritrade | Ally Invest |
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Minimum Initial Deposit The minimum deposit needed to start a live trading account.
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$0 | $0 |
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Bank Wire (Deposit/Withdraw) Offers option to use a bank wire to deposit and/or withdraw funds.
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Visa/Mastercard (Credit/Debit) Visa or MasterCard debit or credit cards be used to deposit or withdraw funds.
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PayPal (Deposit/Withdraw) PayPal can be used to deposit and/or withdraw funds.
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Skrill (Deposit/Withdraw) Skrill can be used to deposit and/or withdraw funds.
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Trading Platforms
| Feature | TD Ameritrade | Ally Invest |
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Proprietary Platform The broker offers their own developed platform that is unique to them and that they may license to other brokerages (but not vice versa).
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Desktop Platform (Windows) Desktop platform for Windows OS such as Windows 7, 8, and/or 10.
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Web Platform Offers a web (browser) based trading platform. Broker website counts if trading can be managed through interface.
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Social Trading / Copy-Trading Platform that allows traders to follow signals or copy the trades of other users.
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MetaTrader 4 (MT4) Offers the native MetaTrader 4 (MT4) platform (for desktop and mobile) developed by MetaQuotes Software Corp.
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MetaTrader 5 (MT5) Offers the MetaTrader 5 (MT5) platform developed by MetaQuotes Software Corp, and which supports automated trading strategies.
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cTrader Offers cTrader platform developed by Spotware Systems, which supports automated trading capabilities.
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DupliTrade DupliTrade offers trading strategy providers that traders can copy trade in their brokerage account.
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ZuluTrade Offers Zulutrade platform for traders to copy other user-created trading strategies automatically in their account.
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Trading Tools
| Feature | TD Ameritrade | Ally Invest |
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Virtual Trading (Demo) Offers simulated trading such as via a free virtual demo account (trial-period).
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Alerts - Basic Fields Ability to set basic price alerts and be notified when price is reached.
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Watchlists - Total Fields Total available fields when viewing a watchlist. Examples: price, symbol, bid, ask, volume.
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548 | 548 |
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Charting - Indicators / Studies (Total) Total number of indicators/studies insertable in a chart (SMA, MACD, RSI, etc...).
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382 | 382 |
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Charting - Drawing Tools (Total) Total number of drawing tools in chart. (pointer, trendline, arrow, note, etc...)
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20 | 20 |
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Charting - Trade From Chart Trade by right clicking on the chart or from a dedicated chart quote bar.
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Charting - Drawings Autosave Drawing features such as trendlines can be saved on any of the charts from within one of the available platforms.
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Order Type - Trailing Stop Continually adjusts its price level based on a specified thresholds.
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Mobile Trading
| Feature | TD Ameritrade | Ally Invest |
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Android App Offers an Android smartphone app available in the Google Play store.
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Apple iOS App Offers native iOS app for Apple devices available in the app store for iPhone or iPad.
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Alerts - Basic Fields Set basic alerts in the mobile app. Examples: price alerts, percentage change from open, volume alerts, etc...
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Watch List Watch list in mobile app uses real-time quotes.
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Watch List Syncing Watch list in mobile app syncs with client's online account. Updates made in the mobile app migrate to the online account and vice versa.
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Charting - Indicators / Studies How many technical studies / indicators are available to add to a chart in the mobile app.
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148 | 148 |
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Charting - Draw Trendlines Ability to draw trendlines on chart within mobile app.
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Charting - Trendlines Moveable Ability to easily move trendlines to adjust them (via long press w/ finger).
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Charting - Multiple Time Frames Adjust the time frame while viewing a chart in the mobile app (e.g. 1m, 5m, 1hr, daily, weekly, monthly).
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Charting - Drawings Autosave Trendlines are saved after logging out so they appear after next log in.
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Forex Calendar A calendar with upcoming economic news releases (may include expected vs prior).
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Research
| Feature | TD Ameritrade | Ally Invest |
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Daily Market Commentary Daily updates written by staff regarding market prices and news events.
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Forex News (Top-Tier Sources) Real-time forex news headlines from top-tier sources such as Bloomberg, Reuters, Dow Jones, etc.
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Weekly Webinars Webinars scheduled in advance that clients can join on a weekly basis.
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AutoChartist Offers one or more technical or fundamental research tool from AutoChartist
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Trading Central (Recognia) Offers one or more technical analysis or fundamental research tool from Trading Central
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Delkos Research Offers one or more technical or fundamental research tools provided by Delkos Research
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Social Sentiment - Currency Pairs Sentiment tool showing ratio of long/short positions across currency pairs or other instruments.
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Economic Calendar Shows upcoming global news events for various economies around the world.
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Education
| Feature | TD Ameritrade | Ally Invest |
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Has Education - Forex A minimum of 10 educational pieces (articles, videos, archived webinars, or similar) with the primary subject being Forex. (Platform tutorials and FAQs, etc.. do NOT count).
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Has Education - CFDs A minimum of 10 educational pieces (articles, videos, archived webinars, or similar) with the primary subject being CFDs. (Platform tutorials and FAQs, etc.. do NOT count).
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Client Webinars Provides educational client webinars through the web, at least one per month.
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Client Webinars (Archived) Provides an archived area to search and watch previously recorded client webinars.
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Videos - Beginner Trading Videos At least 10 educational videos are available. A beginner video is a short clip, typically several minutes in duration, that explains a trading concept, term, or strategy. Archived webinars and platform demos do NOT count.
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Videos - Advanced Trading Videos Educational videos with relevant content of value for experienced traders.
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Investor Dictionary (Glossary) An online dictionary with definitions of at least 50 investing terms.
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Major Forex Pairs
| Feature | TD Ameritrade | Ally Invest |
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GBP/USD Great British Pound (GBP) versus United States Dollar (USD).
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USD/JPY United States Dollar (USD) versus Japanese Yen (JPY).
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EUR/USD Euro (EUR) versus United States Dollar (USD).
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USD/CHF United States Dollar (USD) versus Swiss Franc (CHF).
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USD/CAD United States Dollar (USD) versus Canadian Dollar (CAD).
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NZD/USD New Zealand Dollar (NZD) versus United States Dollar (USD).
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AUD/USD Australian Dollar (AUD) versus United States Dollar (USD).
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Overall
| Feature | TD Ameritrade | Ally Invest |
| Overall | ||
| Commissions & Fees | ||
| Offering of Investments | ||
| Platforms & Tools | ||
| Mobile Trading | ||
| Research | ||
| Education | ||
| Trust Score | 98 | 98 |
| TD Ameritrade Review | Ally Invest Review |
If you are stuck in trying to guess which one is the best, read this article first. Those two American brokers have many things to offer to their customers.
Which of the two offers the best pricing?
The average spread of the two companies is equal to one pip. This means they offer comfortable conditions for various types of traders and strategies. You can use high-frequency trading tactics and scalping strategies.
Ally Invest has no minimum deposit requirements meaning you can start with any amount you want. TD Ameritrade has also no minimum deposit requirements but they recommend investing $2,000 at least to get access to all broker’s features.
Which of the two is more reliable?
Both companies are regulated in the United States meaning they are subject to the US financial markets legislation. You don’t need to worry about your funds as they are protected. US regulatory bodies are considered to be the strictest in the world meaning US brokers have no space for malicious activities.
Trading platforms
As for trading platforms’ choices, Ally Invest offers their proprietary web terminal only. TD Ameritrade allows users to trade via Thinkorswim additionally to their web trading platforms. This is a famous trading terminal with a great set of features and cutting-edge trading technologies. It is to mention that all trading platforms that you can find with TD Ameritrade and Ally Invest are designed for beginner and professional traders allowing them to conduct deep analysis.
Payment methods
Both companies accept ACH, and wire transfer. Those payment methods are popular among US traders. You can deposit or withdraw using checks also. Do not forget to read more about those payment methods commissions and transaction speed.
Financial instruments
Ally Invest and TD Ameritrade offer a plethora of trading instruments that you can use to create well-balanced portfolios. You can also buy and sell financial assets to get profit from the price difference. Additionally to the main list of the instruments, Ally Invest allows you to trade penny stocks, while TD Ameritrade is focused on the larger set of derivatives.
