Platform Comparison

Ally Invest vs TD Ameritrade

Detailed side-by-side comparison to help you choose the best platform for dividend investing

AI

Ally Invest

4.4

Seamless banking and investing integration with commission-free trading, excellent DRIP, and one of the largest no-fee mutual fund selections available.

Higher Rated
TD

TD Ameritrade

4.7

The legendary thinkorswim platform lives on under Schwab. All TD Ameritrade accounts have been migrated—new customers should open a Schwab account directly.

Feature Comparison

FeatureAlly InvestTD Ameritrade
Our Rating4.4/54.7/5
Trading Commissions$0N/A
Account Minimum$0N/A
Fractional SharesDRIP onlyN/A
DRIPFreeVia Schwab
Research ToolsBasicGood
Best ForAlly Bank CustomersFormer TD Ameritrade Customers

Pros & Cons

Ally Invest

Pros

  • + Commission-free trading on stocks and ETFs
  • + Free dividend reinvestment with fractional share support
  • + 9,000+ no-transaction-fee mutual funds
  • + Seamless integration with Ally Bank accounts
  • + Low options pricing at $0.50 per contract

Cons

  • - No direct fractional share purchases (DRIP only)
  • - No cryptocurrency or futures trading
  • - No physical branches for in-person support
  • - Limited educational resources compared to competitors

TD Ameritrade

Pros

  • + thinkorswim platform retained and integrated into Schwab
  • + All former TD Ameritrade accounts successfully migrated
  • + Commission-free trading continues under Schwab
  • + 400+ technical analysis tools in thinkorswim
  • + Trading simulator for practice without risk

Cons

  • - TD Ameritrade no longer accepts new accounts
  • - TD Ameritrade API permanently shut down
  • - Some interface changes during Schwab transition
  • - Former TD-only features may differ slightly

Which Platform is Right for You?

Choose Ally Invest if you...

  • Want ally bank customers focused features

Choose TD Ameritrade if you...

  • Want former td ameritrade customers focused features
  • Prefer a higher-rated overall platform

Investment Disclaimer

Investing involves risk, including possible loss of principal. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice.