UPDATE May 2017: Ally Bank acquired TradeKing in 2016. The merger is complete and TradeKing is now known as Ally Invest. The new company brings best in class online banking and merges it with one of the best online brokerage firms. The new financial services company now offers customers a full service banking and investing platform under one roof.
There is never a better time than right now to start planning your future. If you are thinking about opening a new investment account, now is a great time to do it. Ally Invest is one of my favorite places to open an account for online stock trading. I have been a customer for several years now, first with TradeKing, and now with Ally Invest after they were acquired by Ally Bank. I recommend Ally Invest to anyone looking for an online brokerage account that offers a combination of price, investment options, excellent customer service, tools, and educational products.
About Ally Invest. Ally Invest is one of the one of the leading online discount brokerage firms and is the broker I use for my online stock trades. They have a tradition of excellence that spans over a decade to their origins as TradeKing. They were rated #1 overall discount broker by Smart Money Magazine in 2006 and 2007, and was rated #4 overall online broker in 2011. SmartMoney also rated TradeKing best in customer service in 2008, 2010, and 2011. TradeKing has also received numerous awards from Barron’s – 4 Star rating 7 years running (every year since 2007!), and #1 in usability in 2011. Kiplinger’s, and other periodicals have consistently rated TradeKing among the best in the industry.
Ally Invest Features: Ally Invest is one of the leaders in the discount brokerage community and features:
- $4.95 stock trades
- No fee IRAs
- Variety of investments, including stocks, bonds, mutual funds, options, and exchange–traded funds (EFTs). They also offer U.S. Treasury and Agency Issues and CDs.
- Free automatic dividend reinvestments (DRIPs)
- Money Market Sweep to earn interest on your idle cash
- Top rated investment research and learning center (free to everyone)
- Free access to Maxit Tax Manager tax management software.
We wrote a full Ally Invest Review (Formerly TradeKing) on our sister site which overs TradeKing’s features in more detail.
Ally Invest Promo Codes
TradeKing was well-known for offering a variety of sign up bonuses, special offers, and promo codes. The most popular offer was the $50 sign up bonus, which was offered once or twice a year. These promotions were paused during the transition from TradeKing to the Ally Invest brand. I hope these offers will return and I will be sure to update this page as soon as we have updated information.
In the mean time, I still recommend opening an Ally Invest account if you need a new brokerage account or online stock trading platform. Ally Invest has an excellent mix of low-prices, top-tier features, and excellent customer service. You can’t go wrong opening an online investment account with Ally Invest.