What’s Better? Ally Invest or tastyworks; A Comparative Study

There are so many different online stock brokers available for the investors. While one is just beginning with the idea of investment, it can be very difficult to choose the best for itself.

tastyworks and Ally Invest are two well-known names in the brokerage industry for options trading; it’s quite tough to make a comparison between these two platforms. Both the firms primarily aim to focus on trading at low-cost and still somehow are consistently providing various investment services. Here’s a differentiation between both these trading and investment platforms.

Ally Invest

Ally Invest has been serving its customers for 100 years now. Alley Invest aims to focus upon doing the best for its customers and be one of the most trusted financial service providers for its customers in both commercial and corporate sectors. Ally Invest is one of the largest full-service automotive financial operations providers in the country, which offers its customers a wide range of financial services and insurance products.

Ally Invest

tastyworks

tastyworks is one of the well-known trading platforms that enables its users to make investments on their own and have complete control over their money. tastyworks believes that if the users have control over their money, they can earn better rewards. tastyworks provides its users with the best possible technology and best trading rates that you can get here. tastyworks provides its customers with complete assistance to be successful on their own.

How is tastyworks Different From Ally Invest

Ally Invest and tastyworks both focus on providing customers with low-cost trading. Apart from that, both tastyworks and Ally Invest are very different from each other on many levels.

Let’s have a look:

Trading

The Ally Invest website is very basic but is definitely capable of offering trading services. The trade bar on the website at the bottom of the screen enables the users to submit their orders for stocks, ETF’s, and other various options. The bar present at the bottom provides the users with information like real-time information on the trade volume, current trade prices, etc. Whereas tastyworks offers its users different trading accounts & desktop platform that also provides its customers with more than a hundred technical details, graphical representations, and few drawing tools. The trading ticket on the tastyworks desktop platform comprises of limit, market, and stop orders. A broad graph is displayed on the tastyworks monitor platform. This particular feature makes tastyworks different from Ally Invest.
tastyworks desktop platform

Mobile Applications

Both the companies have a common aim to provide their customers with mobile trading capability. Ally Invest launched a mobile application for its user named ‘Ally Bank.’ This app makes the bank functions available for its customers for brokerage. The application provides features like check depositing, ACH transferring, Zelle Transfer, and payment of bills. The tastyworks mobile app offers alerts and important notifications. The application has large fonts, which makes it easier for customers to read. The charting feature is less advanced than Ally, and like Ally Invest, there are no news articles featured on the app. 

Ally Mobile App

Price Margin

The long stocks are priced for $6, with a 50% starting margin requirement and 30% for maintenance requirements. Whereas the case is different for tastyworks, the maintenance is less than 25%, and the initial margin is 50%, and stock is priced at $5. 

Option Trading
The Ally Invest users can buy and sell contracts on the browser platform or broker’s website. There are option chains for calls on the website. tastyworks customers can get access to strategies platforms based on the comparison of Fidelity & Tastyworks. The broker platform offers trading with the graph and the bell curve.
Other Products of Investment

The tastyworks does not offer its customers with services like mutual funds, bonds, or forex. But tastyworks provides trading in the futures contract & also you get Tastyworks referral programs on the broker. The desktop platform for the broker can be used to trade them but the browser system whereas the customers of Ally Invest have access to services like mutual funds, bonds, and forex. Ally Invest provides its users with a good desktop platform for trading with currency. Ally Invest has also launched an Ally Invest forex app for its mobile investor users.

According to the comparison of brokers, we found that both tastyworks and Ally Invest have their own benefits and drawbacks. The bottom line is that the primary aim of both these investment platforms is to provide their customers with best in class services and keep up the good name in the market individually.