Updated September 28, 2026 · BrokerCue Editorial Team
Ally Bank vs BMO InvestorLine
Where Ally Bank and BMO InvestorLine differ
| Compare |  Ally Bank |  BMO InvestorLine |
|---|---|---|
| Stock trade fee | $0 | CA$0 |
| Account fee | $0 | CA$0 |
| Inactivity fee | $0 | CA$0 |
| Options contract fee | $0.50 | CA$0.90 |
| Minimum deposit | $0 | Not confirmed |
| Regulators | SEC, FINRA, FDIC | Not confirmed |
| Investor protection | SIPC up to USD 500,000 | Not confirmed |
| Currency conversion fee | Not confirmed | 0.4% to 1.6% |
| Margin rate | Not confirmed | 8.75% |
| Deposit and withdrawal fees | Not confirmed | $0 EFT, $10 wire |
| Account types | Joint, IRA, Roth IRA | Not confirmed |
Same on both: Markets (Stocks, ETFs, Options, Funds, Bonds).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings.
Key differences
- Ally Bank scores higher overall: 9.6 vs 9.4.
- Founded is lower at Ally Bank: 1919 vs 1988.
- Support channels: only Ally Bank offers Email, Help centre.
Our verdict on each
Ally Bank
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.
BMO InvestorLine
BMO InvestorLine suits Canadian investors who want a bank-backed broker without account or inactivity charges, trading stocks and ETFs commission free. What sets it apart is the pairing of a CAD 0 stock trade fee with a CAD 0 account fee, though currency conversion and options add cost.
Score breakdown
| Area | Ally Bank | BMO InvestorLine |
|---|---|---|
| Cost | 9.4Higher$0 to trade shares, $0 account fee, $0 inactivity charge, with $0.50 per options contract and 0% to 0.3% on automated portfolios. | 9.2Commission-free stock and ETF trades, no account fee and no inactivity fee, with options and margin priced separately at CAD 0.90 and 8.75%. |
| Offer | 9.6Higher | 9.2 |
| Trust | 9.8Higher | 9.6 |
Where they rank in our lists
| Ranking | Ally Bank | BMO InvestorLine |
|---|---|---|
| Stock and ETF brokers | 31 of 490 | 43 of 490 |
| Options trading platforms | 5 of 103 | 13 of 103 |
| Low-fee brokers | 2 of 11 | 6 of 11 |
Availability and regulation
| Country | Ally Bank | BMO InvestorLine |
|---|---|---|
| United States | FINRA 136131 FDIC FDIC cert 57803 | Not confirmed |
Where these facts come from
Ally Bank
- ally.com: 7 facts, checked September 26, 2026
- banks.data.fdic.gov: 2 facts, checked September 26, 2026
- files.brokercheck.finra.org: 2 facts, checked September 26, 2026
- brokerchooser.com: 1 fact, checked September 26, 2026
- fxleaders.com: 1 fact, checked September 26, 2026
BMO InvestorLine
- finder.com: 5 facts, checked September 26, 2026
- newsroom.bmo.com: 3 facts, checked September 26, 2026
- hellosafe.ca: 2 facts, checked September 26, 2026
- stockwatch.com: 1 fact, checked September 26, 2026
- wowa.ca: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | Ally Bank | BMO InvestorLine |
|---|---|---|
| Features | Not confirmed | Mobile app, Options |
| Pricing model | Commission free | Commission free |
| Legal entity | Ally Bank | Not confirmed |
| Headquarters | United States | Not confirmed |
| Founded | 1919Lower | 1988 |
| Support channels | Email, Chat, Phone, Help centreCovers more | Phone, Chat |
Robo-advisors
| Fact | Ally Bank | BMO InvestorLine |
|---|---|---|
| Management fee | 0% to 0.3% | Not confirmed |
| Minimum investment | $100 | Not confirmed |
| Portfolio types | ETF, ESG, Cash | Not confirmed |
Where each stands against the rest
| Fact | Ally Bank | BMO InvestorLine | Median |
|---|---|---|---|
| Minimum deposit | $0below the median | Not confirmed | $10 |
| Currency conversion fee | Not confirmed | 0.4% to 1.6%at the median | 0.4 |
| Margin rate | Not confirmed | 8.75%below the median | 8.79% |
Median across 99 listed brokers.
Pros and cons
Ally Bank
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.
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.
BMO InvestorLine
Pros
- Stock and ETF trades cost CAD 0 and the account fee is CAD 0, so holding a portfolio costs nothing.
- The inactivity fee is CAD 0, so an untouched account is not charged.
- Support runs on phone and chat, giving a phone line and live chat.
Cons
- Margin borrowing is priced at 8.75%, so a leveraged position carries a borrowing cost.
- Options contracts carry a fee of CAD 0.90 each.
- Currency conversion is the hidden cost, at 0.4% to 1.6%, and deposits and withdrawals run $0 EFT, $10 wire.
Who each suits
Ally Bank
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.
BMO InvestorLine
Who it suits
- Investors who want a long term stock, ETF, bond and fund portfolio without a standing account charge.
- Traders who mainly trade Canadian equities and want phone and chat support for questions.
- Anyone already inside a bank relationship who values a long operating history.
Who should look elsewhere
- Day traders who live in currencies other than the Canadian dollar and would feel the 0.4% to 1.6% on every conversion.
- Options buyers who place frequent contracts and would pay CAD 0.90 each time.
- Leveraged traders, because margin costs 8.75%.
Country by country
| Country | Ally Bank | BMO InvestorLine |
|---|---|---|
| United States | Yes | No |
Questions about each
Ally Bank
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.
BMO InvestorLine
How much does it cost to open and hold a BMO InvestorLine account?+
The account fee is CAD 0 and the inactivity fee is CAD 0, so there is no standing or dormant charge on the account. Stock and ETF trades themselves cost CAD 0. The costs that do appear are on currency conversion, options and margin.
What does it cost to trade a stock or an ETF?+
Stock and ETF trades are commission free, priced at CAD 0. The platform is listed as a commission-free model. Costs appear elsewhere: currency conversion at 0.4% to 1.6%, options at CAD 0.90 per contract, and margin at 8.75%.
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