Ally Invest vs Alpaca Comparison: Fees, Features, and More (2026)

Ally Invest and Alpaca are two leading discount brokerages offering commission-free stock and ETF trading. Use this head-to-head comparison table to evaluate fees, features, trading tools, and account options to help you decide which broker is right for you in 2026.

Head-to-Head Comparison: Ally Invest vs Alpaca (2026)
Feature Ally Invest Alpaca
Website https://www.ally.com/invest/ https://alpaca.markets/
Broker Type Discount (online self-directed brokerage) API-first self-clearing broker-dealer (Trading API for retail/algo; web dashboard available)
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 eligible US stocks/ETFs ($2+); $4.95 + $0.01/share if <$2 $0 commission (retail US stocks/ETFs); plus SEC/FINRA/CAT fees. Elite Smart Router: $0.0005–$0.004/share
Fractional Shares? No Yes (from $1 notional; 2,000+ US equities)
Percent Allocations? No Yes, via API
Crypto Trading? No Yes (most US states via API/dashboard; 24/7)
Crypto Fees N/A Maker/taker 0.15%/0.25% (under $100k 30d vol) to 0%/0.10% ($100M+); on received asset
Options Trading? Yes Yes (Levels 1-3 equity/ETF; index options live)
Options Fee $0 commission + $0.50 per contract $0 commission retail equity/ETF options; index $0.50/contract + ORF/OCC/exchange pass-throughs
Bond Trading Available? Yes No (Broker API partners only; not Trading API/dashboard retail)
Receives payment for order flow (PFOF)? Yes Yes (receives PFOF rebates)
Interface: Web trading? Yes Yes web dashboard; no official mobile app (third-party/TradingView yes)
Desktop trading? No No
API Trading? No Yes (Alpaca Trading API)
Mutual Funds: Offered? Yes No
Total Mutual Funds Thousands (500+ fund families) None
NTF Mutual Funds Over 5,400 None
Non-NTF Fund Fee $0 (no-load); fund loads otherwise N/A
Early Redemption Fee? Yes (no Ally fee) N/A
Redemption Hold (Days) Varies by fund (prospectus); no Ally broker hold period listed N/A
Early Redemption Fee Fund-specific (often 0–2%); Ally $0 for no-load sales N/A
Accounts: Margin Accounts? Yes ($2,000 minimum equity required) Yes; all accounts opened as margin (limited margin if equity under $2,000).
IRAs Offered? Yes (Traditional/Roth/Rollover at Invest; SEP at Ally Bank) Yes; Traditional and Roth IRAs for US tax residents (Trading API). SEP-IRA in agreements.
HSAs Offered? No No
Money Market Sweep? Yes (Apex FDIC bank sweep; 0% interest) Yes; opt-in FDIC Bank Sweep/High-Yield Cash for uninvested cash (variable APY, up to $1M FDIC).
CDs Offered? Yes (brokered CDs; $24.95 per transaction) No
Robo-Advisor: Offered Yes No
Robo-Advisor Service Robo Portfolios N/A
Robo-Advisor Fees 0% cash-enhanced (30% cash buffer) or 0.30% market-focused; ETF expenses extra N/A
Basics: Headquarters Charlotte, NC San Mateo, CA
Year Founded 2017 2015
Clearing Firm Apex Clearing Corporation Self-clearing (Alpaca Clearing)
Local Branches? No No
New Account Minimum $0 $0

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