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Anybody use Ally Invest?
Old 05-19-2018, 08:12 AM   #1
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Join Date: Feb 2018
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Anybody use Ally Invest?

I guess Ally Invest bought out the old TradeKing accounts, and I now have an an (unfunded) brokerage account at Ally. I already have several CD's and a saving at Ally and am happy with them.
My question is I have been digging around a little in Ally's website and can't find what the brokerage "settlement account" is, and what yield it pays.
I know Fidelity and Vanguard settlement accounts pay around 1.5%-1.8%.
Anyone know what the MM fund is and what yield the Ally settlement account pays?

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Old 05-19-2018, 08:48 AM   #2
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Join Date: Mar 2012
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I don't know about TradeKing and the settlement account. However, looking through the FAQ, it says:

When you open and fund an Ally Invest account, you can trade online the following securities:
Options (equity and index)
ByRDs (Binary Return Derivatives)
Mutual Funds
Fixed Income (corporate, agency, treasuries, municipals, strips & zeros, CDs, and new issues)

You might begin perusing the CDs that are available through the brokerage as these can provide many additional options from what Ally offers from the banking side of the house. For maturities at/under 1 year, treasuries are the way to go at this time, so that is another option which the brokerage will provide.
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