Ally invest
freetrade
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Overview
Ally invest was founded in 2013 and is headquartered in United States, while freetrade was established in 2016 and is based in United Kingdom. Ally invest holds licences including Cyprus Securities and Exchange Commission (CySEC), while freetrade is regulated by Financial Conduct Authority. Registered in England and Wales (no. 09797821) among others. Ally invest serves 10,000+ clients worldwide; freetrade has 890,000+. The minimum deposit is $500 at Ally invest and $0 at freetrade.
| Feature | Ally invest | freetrade |
|---|---|---|
| Min. Deposit | $500 | $0 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority. Registered in England and Wales (no. 09797821) |
| Founded | 2013 | 2016 |
| Country | United States | United Kingdom |
| Clients | 10,000+ | 890,000+ |
Fees
Fees are a critical factor when choosing between Ally invest and freetrade, directly affecting your bottom line as a trader. freetrade has a lower barrier to entry with a minimum deposit of $0 (vs $500 at Ally invest). Neither broker charges withdrawal fees. Ally invest applies inactivity fees on dormant accounts; freetrade does not. Overall, freetrade scores higher on fees in our assessment.
| Feature | Ally invest | freetrade |
|---|---|---|
| Min. Deposit | $500 | $0 |
| Withdrawal Fees | No | No |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | No |
| CFD Fees | Yes | No |
Platforms
Ally invest offers MT5, cTrader, while freetrade supports MT4, MT5, cTrader, a proprietary platform. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. freetrade edges ahead on platform breadth and functionality in our scoring.
| Feature | Ally invest | freetrade |
|---|---|---|
| MT4 | No | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Desktop,Android,iPhone,Mac | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how Ally invest and freetrade compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. The two brokers are evenly matched on educational content.
| Feature | Ally invest | freetrade |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Ally invest accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while freetrade supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). freetrade uniquely supports PayPal and Skrill and Neteller among the two brokers. freetrade scores higher on deposit and withdrawal flexibility.
| Feature | Ally invest | freetrade |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Ally invest and freetrade offer live chat support. Both provide phone support. Email support is available at both brokers. Ally invest supports 2 languages and freetrade supports 8, giving freetrade broader global reach. Both brokers are comparable on support quality.
| Feature | Ally invest | freetrade |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |