Ally Bank review

Updated September 28, 2026 · BrokerCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Ally Bank suits US investors who want commission-free share dealing with a free account and a free inactivity charge, and it heads the cost table on the measures compared. The trade-off sits in the automated portfolios, which take a management fee of 0% to 0.3% and a starting investment of $100.

Key facts

Best for
Commission-free US share dealing with a free account and a free inactivity charge.
Minimum deposit
$0 (Source, checked September 26, 2026)
Stock trade fee
$0 (Source, checked September 26, 2026)
Account fee
$0 (Source, checked September 26, 2026)
Inactivity fee
$0 (Source, checked September 26, 2026)
Markets
Stocks, ETFs, Options, Funds, Bonds (Source, checked September 26, 2026)
Regulators
SEC, FINRA, FDIC (Source, checked September 26, 2026)
Investor protection
SIPC up to USD 500,000 (Source, checked September 26, 2026)
Options contract fee
$0.50 (Source, checked September 26, 2026)
Account types
Joint, IRA, Roth-IRA (Source, checked September 26, 2026)
Legal entity
Ally Bank (Source, checked September 26, 2026)
Headquarters
United States (Source, checked September 26, 2026)
Founded
1919 (Source, checked September 26, 2026)
Support channels
Email, Chat, Phone, Help-centre (Source, checked September 26, 2026)
Pricing model
Commission-free
Official website
ally.com

Robo-advisors

Management fee
0% to 0.3% (Source, checked September 26, 2026)
Minimum investment
$100 (Source, checked September 26, 2026)
Regulators
SEC, FINRA, FDIC (Source, checked September 26, 2026)
Investor protection
SIPC up to USD 500,000 (Source, checked September 26, 2026)
Account types
Joint, IRA, Roth-IRA (Source, checked September 26, 2026)
Portfolio types
ETF, ESG, Cash (Source, checked September 26, 2026)
Legal entity
Ally Bank (Source, checked September 26, 2026)
Headquarters
United States (Source, checked September 26, 2026)
Founded
1919 (Source, checked September 26, 2026)
Support channels
Email, Chat, Phone, Help-centre (Source, checked September 26, 2026)

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaLinkedInX

Pros and cons

Pros

  • A stock trade costs $0 and the account fee is $0, so holding a US portfolio costs nothing at the platform level.
  • The inactivity fee is $0, and Ally ranks 1 on that measure among 56, so a dormant balance is not quietly drained.
  • Regulated in the US by SEC, FINRA and FDIC, with investor protection recorded as SIPC up to USD 500,000 and an FDIC certificate of FDIC cert 57803.
  • A bank behind the brokerage: the legal entity is Ally Bank, founded in 1919, so the deposit side carries the same name.
  • Support covers email, chat and phone, so phone and chat sit alongside email and the help centre.

Cons

  • The automated portfolios take a management fee of 0% to 0.3% a year, so a free account is not the whole cost picture.
  • Options carry $0.50 per contract, so the commission-free model in commission free does not reach derivative trading.
  • Account types run to joint, ira and roth ira, with no wrapper for a tax-sheltered investor who is not saving through a retirement account.
  • stocks, etfs and options carries no forex, contracts for difference or crypto line, so traders in those markets need eToro or CFI instead.
Ally Bank

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Scored 9.6 / 10 by BrokerCue.

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Who it suits

  • US savers who want commission-free share dealing, a minimum deposit of $0 and an account fee of $0.
  • Retirement investors, since joint, ira and roth ira covers individual retirement accounts and joint accounts.
  • People who would rather ring than email, since email, chat and phone includes phone, chat, email and a help centre.

Who should look elsewhere

  • Traders after forex, contracts for difference or crypto, since stocks, etfs and options stops at the US list while stocks, etfs and forex goes further.
  • Anyone who wants leveraged index exposure on the same account, where CFI covers stocks, etfs and forex and Ally does not.

Opening and funding an account

Ally runs a self-directed account alongside an automated portfolio service, and the two have different thresholds. Self-directed trading takes a minimum deposit of $0, so a starter trade can go in at whatever size suits the balance with no entry ticket to clear. The automated side asks for a minimum investment of $100, which is a floor on what you hand over rather than a charge. Account types run to joint, ira and roth ira, covering joint holders and retirement savers alongside a single investor. For a US saver that makes a staged route: start small on the trading side, add a set amount to the managed side later. The same list is a limit for anyone whose money needs tax shelter outside a retirement account, because joint, ira and roth ira includes no such wrapper.

Where it sits among rivals

On cost, Ally sits where the rankings put it. It ranks 1 on account fee among 138 brands compared, and 1 on the inactivity fee among 56. The minimum deposit places it 1 of 213, and the stock trade fee 1 of 161. The overall score is 6.9 and the cost part is 6.9, which shows where the strength sits: what it costs to hold and trade, rather than the range of instruments or the tools around them. Read that way the placement is consistent, with every cost measure near the top rather than a single standout among mixed results.

What trading costs

The self-directed numbers are as plain as they come. The account fee is $0, the minimum deposit is $0, and a stock trade costs $0. Sitting on the balance costs nothing either, because the inactivity fee is $0, so an account left alone does not drain month by month. Options are the line that breaks the pattern, at $0.50 per contract, so a regular options strategy should treat that charge as its real running cost. Share dealing stays as it is, which leaves a fee sheet with a single priced exception, easier to model than a tiered schedule.

What you can trade

The self-directed list runs to stocks, etfs and options, so shares, exchange traded funds, options, funds and bonds sit behind the same account. It is a US list, and stocks, etfs and options holds no forex, no contracts for difference and no crypto, with nothing on futures or metals to widen it. The account types behind it are joint, ira and roth ira, so joint holders can share and retirement savers can keep the same range inside a retirement account. For a long-term mix of shares and bonds with the occasional options trade, that is enough to build on. For a plan built around currency, leveraged indices or digital assets, stocks, etfs and options leaves nothing to trade.

How Ally Bank compares

Where Ally Bank is available

Available
United States
Licence in United States
SEC, checked September 26, 2026
Licence in United States
FINRA (136131), checked September 26, 2026
Licence in United States
FDIC (FDIC cert 57803), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does it cost to open a self-directed account and place a trade?+

Opening costs nothing beyond the deposit itself, and the minimum deposit is $0. Trading shares carries a fee of $0 and the account fee is $0, so a small starter order does not eat into the position. Options are the exception and are priced separately per contract.

Is there a charge if I leave the account empty?+

No. The inactivity fee is $0, which means an account you stop using carries no monthly drain on the balance. It matters most for anyone splitting cash between trading and holding, because a dormant account here does not quietly shave the value of what sits in it while a decision is pending.

How much do options trades cost?+

Each options contract carries $0.50. That sits on top of the commission-free dealing described in the model listed as commission free, so a share trade costs $0 while a derivative position does not. Anyone running a regular options strategy should treat the per-contract charge as the main ongoing cost rather than a rounding item.

Who regulates Ally and what protects my money?+

Ally is regulated in the US by SEC, FINRA and FDIC, under a FINRA licence numbered 136131 and an FDIC certificate FDIC cert 57803. Investor protection for the brokerage side runs through SIPC, recorded as SIPC up to USD 500,000. The account is held by Ally Bank, a bank entity, which is worth knowing before cash is transferred in.

What can I actually trade?+

The self-directed list runs to stocks, etfs and options, which covers the usual US instruments in a single place. There is no forex, contracts for difference or crypto in stocks, etfs and options, and no futures, so a plan built around currency or digital assets needs a second platform. Bonds and funds are there, which is what makes it workable for a long-term mixed portfolio.

Can I use it for retirement saving, and what does the managed option cost?+

Retirement accounts are part of the list, since the account types run to joint, ira and roth ira. The automated portfolios are the managed side, and they take a management fee of 0% to 0.3% a year on a minimum investment of $100. That is a different cost structure from self-directed trading, where the account fee is $0 and trades in shares cost $0.

How do I get help if something goes wrong?+

Support runs through email, chat and phone, so a question can go out by email or chat, by phone, or through the help centre. For a bank that also runs the deposit side, having phone support in the list is the practical point: a stuck transfer or a rejected order is easier to sort out with a person than a form. The help centre holds the small print.

Who actually runs the account?+

The legal entity is Ally Bank, headquartered in the US and founded in 1919. It is a bank that also offers investing, which explains why the deposit side and the brokerage side appear together and why SIPC shows up as the investor protection on SIPC up to USD 500,000. Long history aside, the practical test is the cost of holding and trading, and on that the account compares well.

How much of the trading risk sits with me?+

Retail accounts lose money often here: 70.15% of them, and 72.03% in the stock group. Ally's $0 and $0 cut the cost side of that risk, not the market risk behind it. Cheap dealing makes losses cheaper to run, it does not make them less likely.

Sources

Compiled from 8 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Retail accounts that lose money.

Ally Bank

Ally Bank

Commission-free US share dealing with a free account and a free inactivity charge.

9.6/10See alternatives

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