Ally Invest Forex vs Scottrade

Struggling to choose between Ally Invest Forex and Scottrade? Both products offer unique advantages, making it a tough decision.

Ally Invest Forex is a Bitcoin & Cryptocurrency solution with tags like forex, cfd, trading, currency-pairs, leverage, pricing, charting, research, education.

It boasts features such as Trade over 50 currency pairs, Mobile app for iOS and Android, Advanced charting and technical analysis tools, Customizable trading platform layout, Automated trading through API integration, No minimum account balance, Commission-free trading available and pros including Low trading costs, User-friendly trading platform, Good research and education resources, Wide range of tradable currency pairs, Advanced trading tools and charting, Mobile app for on-the-go trading.

On the other hand, Scottrade is a Business & Commerce product tagged with stocks, etfs, mutual-funds, bonds, options, trading, investing.

Its standout features include Online trading platform, Low trading commissions, Access to stocks, ETFs, mutual funds, bonds, options, Research tools and market data, Mobile and desktop apps, Banking services like checking accounts, and it shines with pros like Low trading commissions, User-friendly trading platforms, Good customer service, Wide range of tradable securities, Educational resources for new investors.

To help you make an informed decision, we've compiled a comprehensive comparison of these two products, delving into their features, pros, cons, pricing, and more. Get ready to explore the nuances that set them apart and determine which one is the perfect fit for your requirements.

Ally Invest Forex

Ally Invest Forex

Ally Invest Forex is an online forex and CFD trading platform offered by Ally Invest. It allows traders to speculate on currency pairs and other assets with leverage. The platform offers competitive pricing, charting tools, research, and educational resources for forex traders.

Categories:
forex cfd trading currency-pairs leverage pricing charting research education

Ally Invest Forex Features

  1. Trade over 50 currency pairs
  2. Mobile app for iOS and Android
  3. Advanced charting and technical analysis tools
  4. Customizable trading platform layout
  5. Automated trading through API integration
  6. No minimum account balance
  7. Commission-free trading available

Pricing

  • Commission-free trading (spreads only)
  • Low commission trading available
  • No minimum deposit
  • No monthly software fees

Pros

Low trading costs

User-friendly trading platform

Good research and education resources

Wide range of tradable currency pairs

Advanced trading tools and charting

Mobile app for on-the-go trading

Cons

Limited funding options compared to some competitors

Less currency pairs than some other forex brokers

No desktop trading platform, web-based only

Lacks some advanced order types

Customer support could be improved


Scottrade

Scottrade

Scottrade is an online brokerage firm that provides a platform for self-directed investing. It allows users to trade stocks, ETFs, mutual funds, bonds, and options with low trading fees.

Categories:
stocks etfs mutual-funds bonds options trading investing

Scottrade Features

  1. Online trading platform
  2. Low trading commissions
  3. Access to stocks, ETFs, mutual funds, bonds, options
  4. Research tools and market data
  5. Mobile and desktop apps
  6. Banking services like checking accounts

Pricing

  • Subscription-Based
  • Pay-As-You-Go

Pros

Low trading commissions

User-friendly trading platforms

Good customer service

Wide range of tradable securities

Educational resources for new investors

Cons

Limited international trading

Less research tools than some competitors

Website can be slow during high trading volume

No futures, forex, or crypto trading