menu
About company:
Ally Bank - one of the leading online banks - acquired TradeKing in 2016. Ally renamed TradeKing to Ally Invest, the bank's new investment arm. TradeKing has been well known as one of the most inexpensive investment platforms around. Taking into account the successful experience, Ally Bank has added its own features and benefits.
Ally Bank offers some of the best interest rates. The bank is online and has no branches. The company has over 7,000 employees and holds over $ 70 billion in customer funds. In December 2016, Ally Bank was named the Best Internet Bank by Kiplinger's Personal Finance magazine.
Ally Invest now serves over 250,000 client accounts with a total of approximately $ 4.7 billion held in it.
Safety
Ally Invest is a member of the Securities Investor Protection Corporation (SIPC), which protects each client's brokerage accounts of up to $ 500,000, of which $ 250,000 can be in cash. Nevertheless, before opening an account with the company, we recommend that you familiarize yourself with the rating of Forex brokers on our page.
How does Ally Invest work?
Traders can trade stocks, exchange-traded funds (ETFs), and fixed-income securities (corporate, agency and municipal bonds). Trading with US Treasuries, Strips and Straps, CDS is also available.
Ally Invest offers its own Forex & Futures platform. It includes a wide variety of tools and resources. The company also boasts some of the lowest fees on Forex.
For those not interested in self-trading, Ally Invest offers a Managed Portfolios service, which is the equivalent of a robo-advisor service. The company can provide investors with professional investment management. The fees for such services are much lower than those of typical investment managers.
Commissions
Ally Invest's basic trading fee for stocks, ETFs and options is $ 4.95. They charge an additional $ 0.65 per option contract. The commission is considered to be the industry average.
The broker has set special prices for investors with high trading volume / high balance. They refer to traders who complete 30 or more trades in one calendar quarter and / or maintain a minimum of $ 100,000 in their account. For these investors, the commission on stocks, ETFs and options is only $ 3.95 per trade, plus $ 0.50 per contract for options trades.
There is no fee for “on-load” mutual funds, and $ 9.95 for “no-load” mutual funds.
No commission is charged when trading Forex.
There are no account maintenance fees, no trading for a long time and no annual IRA fees.
Ally Invest managed accounts
This service provides professionally designed and personalized portfolios tailored to the trader's goals. To open an account, you need to deposit a minimum of $ 2500. The annual service fee is 0.30%. This percentage is considered lower than the industry average (1.02%). Thus, a trader who has a $ 100,000 portfolio will pay $ 300 per year for maintenance.
Ally Invest Forex & Futures
You can trade over 50 currency pairs, gold and silver. All transactions are carried out in real time. The trader gets round-the-clock access to the market.
The Forex & Futures service offers a customizable trading platform that includes:
trading currencies, metals, commodities, indices and bonds of various exchanges; multi-level commission payments, which provide for a reduction in fees for trading large volumes; charting capabilities with more than 100 technical indicators.
You can open a Forex & Futures account for only $ 250. Trading operations are carried out on one of the terminals - MetaTrader4 and ForexTrader. Both platforms are available on PC and mobile.
When you apply for an account, you can open either a ForexTrader or a MetaTrader account. You can open a Forex & Futures account for as little as $ 250. We recommend $ 2,500 so you can take full advantage of the account. This will increase flexibility and diversification.
Forex Premium Charting - professional tools for identifying and decoding Forex patterns and trends.
Forex & Futures Practice Account is a free $ 50,000 virtual account that gives you full access to trading platforms and tools for up to 30 days.
It is important to note that Forex accounts are not protected by SIPC or FDIC insurance.
Analytical tools and training materials
Ally Invest offers a complete set of trading tools to help you make investment decisions:
Streaming Charts - Six charts with over 90 graphical studies and drawing tools to analyze the performance of securities.
Market and Company Overview - Market statistics, news and detailed indicators and opinions on individual companies.
Watchlists is a customizable list for tracking and viewing market data for groups of securities.
Profit / Loss Calculator - Allows you to understand the profit and loss potential of options trading. You can also see how the result changes based on fluctuations in volatility and time.
Market data - quotes, charts, high / low prices, dividend dates, summary of general options, news.
Educational resources cover information from the basics of Forex and futures trading to technical and fundamental analysis. There is also a glossary. Ally Invest also offers tuition for a fee, which provides more professional training.
Ways of payment
The easiest way to deposit funds is with a debit card. In this case, the money is credited instantly. Depositing funds via bank transfer takes one to two business days. ACN credits take up to five business days, check - 5 to 10 business days.
You can deposit the following currencies: USD, EUR, CAD, JPY, GBP, AUD, CHF.
In addition, Ally Invest clients can use the services of Ally Bank.
Pros:
variety of services offered; industry average commissions; managed accounts; 24/7 customer support by phone, mail or skype.
Minuses:
lack of an office where clients are received and local branches; crediting funds may take a long time.
TRADEKING is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
TRADEKING profits from traders' trades, usually in two main ways
.
First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
.Any feedback can raise or lower the rating company. To read reviews, go into the rating and select your broker or crypto exchnage.
In order to leave a review about the company, go down page, enter a valid email and Your review with an overall score. Reviews are moderated and tracked by the number of comments from the same IP or email. Tech support may request the actual documents that prove that the user was or is a customer of the broker. This rule applies to negative and positive reviews. We want our portal to be honest and independent.
Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. TRADEKING received a score of 1 of 5 on our resource.