Ally Forex is an online broker that has several features that can make trading more efficient. It offers competitive rates, a robust platform, and educational support.
Ally also offers a managed portfolio option that can be helpful for new investors. These portfolios are designed to help investors meet their financial goals without paying for a personal investment advisor.
Features
Ally Invest offers a wide range of features, including commission-free trading and automated investing. It also has various options trades, stocks, ETFs, and mutual funds that you can buy or sell with your account.
Ally Forex is a specialized platform that allows traders to trade over 80 currency pairs in real-time. Its charting tools include more than 80 technical indicators, drawing tools, and integrated order management features.
It also offers a comprehensive Options Playbook training course to help you get started with options. Its Profit & Loss calculator allows you to estimate the risk and potential profits before you place an options trade, so you can choose the best strategy for your situation.
Ally Invest also has a variety of stock screeners, including fundamental and technical criteria that you can use to analyze potential investments. These screens are available on the primary website, Ally Invest Live, and the mobile app.
Pricing
Ally Invest has several competitive pricing features, including $0 commissions on stock and ETF trades. The broker also offers a low fee for options trading.
Ally offers a wide range of technical analysis tools, which can be helpful for both novice and experienced traders. These include a streamer chart tool, 117 unique charting indicators, and 36 drawing tools.
It also has a simple options chain display feature that allows you to analyze available options in seconds. It also has a comprehensive options training course, which can help you learn more about the benefits of options trading.
Ally Invest also provides market and actual news headlines from MT Newswires, as well as an events calendar showing macroeconomic releases and earnings announcements. These offerings are generic, but they’re sufficient for most investors.
Platform
Ally Invest offers an excellent trading platform that can be used from any internet-connected device. The primary website is well-designed and responsive, with intuitive menus that help you find what you’re looking for.
The Ally Invest mobile app is available on iPhone and Android, an excellent feature for itinerant traders. However, it may lack some analytical tools on the desktop platform, including a screener for options.
Ally Invest’s charting features include bar, candle, and line modes for price action. In addition, it includes drawing tools and technical studies that are useful for analyzing data. In addition, several watchlists can be created.