Updated September 28, 2026 · BrokerCue Editorial Team
Ally Bank vs Nutmeg
Ally Bank vs Nutmeg: the differences
| Compare |  Ally Bank |  Nutmeg |
|---|---|---|
| Minimum deposit | $0 | £500 |
| Stock trade fee | $0 | £0 |
| Markets | Stocks, ETFs, Options, Funds, BondsCovers more | ETFs, Funds, Stocks, Bonds |
| Regulators | SEC, FINRA, FDIC | Financial Conduct Authority |
| Investor protection | SIPC up to USD 500,000 | FSCS up to GBP 85,000 |
| Account types | Joint, IRA, Roth IRA | ISA, SIPP |
| Account fee | $0 | Not confirmed |
| Inactivity fee | $0 | Not confirmed |
| Options contract fee | $0.50 | Not confirmed |
| Deposit and withdrawal fees | Not confirmed | no set-up, trading or exit fees |
| Platforms | Not confirmed | Web, Mobile app |
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Key differences
- Ally Bank scores higher overall: 9.6 vs 9.2.
- Regulators: only Ally Bank offers SEC, FINRA, FDIC.
- Regulators: only Nutmeg offers Financial Conduct Authority.
- Founded is lower at Ally Bank: 1919 vs 2012.
- Markets: only Ally Bank offers Options.
- Account types: only Ally Bank offers Joint, IRA, Roth IRA.
- Account types: only Nutmeg offers ISA, SIPP.
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.
Nutmeg
Nutmeg suits UK investors who want a managed portfolio held in an ISA or SIPP rather than a self-directed dealing account. The cost of that convenience is a single management fee of 0.25% to 0.75%, with a £0 stock trade fee and FSCS protection of FSCS up to GBP 85,000 in place.
Score breakdown
| Area | Ally Bank | Nutmeg |
|---|---|---|
| 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. | 9.0Management fees of 0.25% to 0.75% run above the robo-adviser median of 0.35%, and the entry floor is high. |
| Offer | 9.6 | 9.6 |
| Trust | 9.8Higher | 9.1 |
Where each is licensed and available
| Country | Ally Bank | Nutmeg |
|---|---|---|
| United Kingdom | Not confirmed | Financial Conduct Authority 552016 |
| United States | FINRA 136131 FDIC FDIC cert 57803 | Not confirmed |
Additional countries for Ally Bank: 1. Additional countries for Nutmeg: 1.
Where they rank in our lists
| Ranking | Ally Bank | Nutmeg |
|---|---|---|
| Stock and ETF brokers | 40 of 471 | 101 of 471 |
| Robo-advisors | 9 of 151 | 32 of 151 |
Feature by feature
| Markets | Ally Bank | Nutmeg |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Options | Yes | No |
| Bonds | Yes | Yes |
| Funds | Yes | Yes |
| Account types | Ally Bank | Nutmeg |
|---|---|---|
| ISA | No | Yes |
| SIPP | No | Yes |
| IRA | Yes | No |
| Roth IRA | Yes | No |
| Joint | Yes | No |
What we checked
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
Nutmeg
- nutmeg.com: 5 facts, checked September 26, 2026
- investing-reviews.co.uk: 3 facts, checked September 26, 2026
- register.fca.org.uk: 2 facts, checked September 26, 2026
- compareandinvest.co.uk: 1 fact, checked September 26, 2026
- jpm-personal-investing-marketing.cdn.prismic.io: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | Ally Bank | Nutmeg |
|---|---|---|
| Features | Not confirmed | Mobile app |
| Pricing model | Commission free | Commission free |
| Legal entity | Ally Bank | J.P. Morgan Personal Investing Limited |
| Headquarters | United States | United Kingdom |
| Founded | 1919Lower | 2012 |
| Support channels | Email, Chat, Phone, Help centre | Email, Chat, Phone, Help centre |
Robo-advisors
| Fact | Ally Bank | Nutmeg |
|---|---|---|
| Management fee | 0% to 0.3%Lower | 0.25% to 0.75% |
| Minimum investment | $100 | £100 to £500 |
| Portfolio types | ETF, ESG, Cash | ETF, ESG, Cash |
Where each stands against the rest
| Fact | Ally Bank | Nutmeg | Median |
|---|---|---|---|
| Account fee | $0at the median | Not confirmed | $0 |
| Inactivity fee | $0at the median | Not confirmed | $0 |
| Options contract fee | $0.50below the median | Not confirmed | $0.625 |
Median across 52 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.
Nutmeg
Pros
- One ongoing charge to read: management fees of 0.25% to 0.75%, with no set-up, trading or exit fees on top.
- Holdings span etfs, funds and stocks, so a managed basket can still cover a wide spread of asset types.
- Regulated by the Financial Conduct Authority, with FSCS protection of FSCS up to GBP 85,000 behind the account.
Cons
- Management fees of 0.25% to 0.75% sit above the robo-adviser median of 0.35%, and the cost rises as the balance grows.
- The opening deposit is £500 and later money goes in from £100 to £500, higher than the robo-adviser median of €60.06.
- The portfolio range is etf, esg and cash only, so there is no crypto or thematic option to tilt towards.
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.
Nutmeg
Who it suits
- UK investors who want a managed portfolio inside an ISA or a SIPP and accept a single ongoing charge for the service.
- People who would rather not research individual funds, since the holdings run to etf, esg and cash approaches chosen and held for you.
- Investors who want a phone line as well as written support, since email, chat and phone includes phone, chat, email and a help centre.
Who should look elsewhere
- Anyone starting with a small first payment, since the £500 deposit is well above the robo-advisor lower quartile of €0, and Axos Invest begins at $100 in US dollars.
- Shoppers who want the lowest ongoing charge, since eToro runs a 0% management fee and Vivid Standard charges 0.5% to 1.5%, against Nutmeg's 0.25% to 0.75%.
- Investors who want accounts in US dollars, because Axos Invest takes $100 in dollars while Nutmeg's £100 to £500 sits in pounds.
Current offers
Nutmeg
Current offer
Bonus
Earn £100 when you invest £1,000: GBP 100 cash reward
Invest at least £1,000 in one payment into a General Investment Account, Stocks and Shares ISA, Lifetime ISA, Junior ISA or Personal Pension and keep it invested for at least 6 months; new contributions only, transfers excluded; reward paid as unallocated cash within 55 days; new clients only, cannot be combined with other new-client offers
Source, checked September 26, 2026
Country by country
| Country | Ally Bank | Nutmeg |
|---|---|---|
| United Kingdom | No | Yes |
| 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.
Nutmeg
What does Nutmeg charge to manage my money?+
The charge is a single management fee of 0.25% to 0.75%, which sits above the robo-adviser median of 0.35% in this group. There are no set-up, trading or exit fees to add on top. Money can go in from £100 to £500, so the cost is a percentage of what you hold rather than a price per deal.
How much do I need to open an account?+
The minimum deposit is £500, and once the account is open money can go in from £100 to £500. That first payment is the step most readers notice, and it sits above the lower quartile of €0 across robo-advisers here.
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