Ally Level 2 Cost

Ally Invest Level 2 Quotes and Real Time Streaming Quotes (2024)


Ally Invest level 2 quotes (NASDAQ TotalView) data and real time streaming stock quotes cost, order book requirements. Does Ally Invest offer free NASDAQ level II data? How to access level 2 quotes on Ally LIVE.


Ally Invest Real Time Quotes


Investors at Ally Invest get free real-time streaming stock quotes if they are non-professional users who have opened and funded an account.


Level II Quotes Cost at Ally Invest


If you’re an active trader of ETFs and stocks, you might be using the bid-ask spread and volume data on your broker’s platform. This is Level I information. Nasdaq securities also have Level II quotes, which show the market makers dealing in the security along with bid and ask sizes. This can help you make better trading choices.

For instance, if you want to buy 10,000 shares of IBM at $140 or less, you need to find an ask order at that price or lower with at least 10,000 shares. You might only find 2,000 shares at that price. Level II quotes quickly show what’s available in the market.

Ally Invest provides Level II data to customers who make at least 25 stock or ETF trades per month. There is no extra cost for the quotes besides the 25 monthly trades.


Comparing to Other Brokers


Ally has higher requirements for Level II quotes compared to some brokers. Charles Schwab offers the data free on its Thinkorswim platform to all clients. Webull charges just $1.99 per month. Some brokers don’t offer the data at all, such as Firstrade.


Free Level II at Charles Schwab



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Hidden Fees with Ally Invest


Ally Invest is one of the lower-priced brokers. Below is an overview of the fees and commissions you may face with an Ally Invest account. Most of the costs come from the commission schedule.


Ally


Commission on Stocks


Ally’s standard stock commission is $0 per trade. For penny stocks (under $2/share), Ally charges one cent per share. Ally Invest warns about investing in penny stocks as they may have heavy settlement fees if not DTC-eligible, which are passed on to the investor.


Commission on ETFs


Ally’s commission for ETFs matches that of stocks - $0 per trade.


Commission on Options


For options trades, Ally charges $0.50 per contract. These fees are competitive. Ally does not charge commissions for closing options priced at $0.05 or below, which helps when your trade nears expiration and the market moves against you.


Other Lesser Known Fees


Aside from commissions, there are other fees Ally charges in certain cases, mainly related to transferring assets out of your account. Ally reimburses new customers up to $75 for outgoing transfer fees from their current broker when switching to Ally. However, moving holdings from Ally to another broker incurs a $50 fee. Full IRA distributions cost $25.

This article covers the common fees for an Ally Invest account, but there are rare fees that could apply to a small number of investors, such as fees for physical stock certificates or paper statements instead of electronic ones. These fees don’t affect 95% of investors, but if you think you might be in the 5%, check their complete fee disclosure before opening an account.


Updated on 10/2/2024.