Ally Invest offers you a wide range of choices that you might consider before investing, which are as follows:
ETF is an option for all in which you can invest. ETF stands for an exchange-traded fund that is exchanged on the exchange market. An ETF can be securities such as stocks, commodities and bonds. They operate in such a mechanism that keeps the trading close to its net asset value. The best thing about it is that the trading of ETFs on Ally Invest is commission-free.
Another type of investment is Options. Options are the contract that assigns the owner an authority to purchase and sell an asset at a fixed price, but for a specific period, which is known as the strike price. This provides the investors with an advantage, minimising the risk of investment. Options can be used to protect gains and to cut losses. This type of investment is highly recommendable if you are one of those who do day trading.
Investing in the form of Bonds is a smart choice as the principal amount remains unchanged. Bonds are loans given to a corporation or a government in return for interest. Once the bond gets mature, the issuer pays back your principal amount along with the full interest on it. Each Bond has different characteristics. Usually, the higher interest in bonds, the riskier the investment would be.
In mutual funds, multiple investors purchase a group of securities. Due to the investment made in different commodities or a number of securities, the mutual funds are considered as comparatively less risky. Ally Invest allows you to choose from more than 12000 funds, but some of them may charge an Ally Invest fee. Also, it doesn't require any minimum deposit to start your investment in mutual funds.
Forex stands for foreign exchange market. It is known as the world's most traded market. Through Ally Invest, you can trade currencies in over than 50 currency pairs (including gold and silver) in real-time. The trading service of Ally Invest provides you with a valuable research and analysis.
The trade prices are highly competitive. Furthermore, Ally Invest allows you to access the powerful trading platform along with a full suite of trading tools, 24/7 market access and a practice account, so you can hone your investing approaches.