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.

Feature	Ally Invest Forex	Scottrade
Overall Score	N/A	N/A
Primary Category	Bitcoin & Cryptocurrency	Business & Commerce

Product Overview

Ally Invest Forex

Description: 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.

Scottrade

Description: 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.

Key Features Comparison

Ally Invest Forex Features

• 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

Scottrade Features

• 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

Pros & Cons Analysis

Ally Invest Forex

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

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

Pricing Comparison

Ally Invest Forex

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

Scottrade

• Subscription-Based
• Pay-As-You-Go