Update 1/4/22: Extended until June 30, 2022.
Update 4/13/21: Bonuses have been reduced, maximum bonus is now $3,000 instead of $3,500.
- Ally Invest is offering commission free trading for 90 days and a bonus of up to $3,000. Bonus you receive depends on how much you deposit or transfer
The Fine Print
- The minimum qualifying deposit to receive a cash bonus is $10,000.
- Cash bonus levels are identified above.
- Accounts will be reviewed 60 days after account opening to determine the total qualifying deposit.
- Corresponding cash bonus will be credited to the account within 10 business days
- . Once the bonus is credited to the account, the bonus and qualifying deposit (minus any trading losses) is not available for withdrawal for 300 days.
- If the qualifying deposit is withdrawn, the bonus may be revoked.
So you need to keep the funds in there for 60 days to trigger the bonus and then keep them in there for a total of 300 days to avoid the bonus being clawed back. We have seen the $200 bonus before, but the other levels are new as far as I’m aware and there is no targeted language this time. Comission free trading is becoming more common with things like Robinhood and Chase’s You Invest. Personally I like to keep my investments as set and forget type deals, but I know some people like to move them around for these types of bonuses.
Hat tip to Bran_Solo via Yet Another Redditor
William Charles Chuck Got a new offer for Ally Invest via email that doesn’t seem to involve more than a couple $100 bucks of capitol invested for a $100 bonus. Nothing spectacular but looks very easy to meet so I’ll probably do it.
1. Open an eligible Ally Invest Self-Directed Trading account or Robo Portfolio through this page by 2/22/2023.
2 Set up and start a monthly recurring transfer amount of your choice within 30 days of opening your account. Then complete at least 3 consecutive monthly transfers by 5/23/2023.
3 Keep your Ally Invest account open and in good standing to receive your $100 cash bonus on or by 6/15/2023.
To participate in this cash bonus offer, you must open an eligible account through the links provided on this page. You must open your eligible account by 2/22/23, set up automated recurring transfers and make a minimum of 3 monthly automated recurring transfers by 5/23/23.
Looks like super easy terms to meet. No mention of any minimums on the initial funding or the transfer amounts.
I also got the same email for $100 bonus. Seems easy to do. I will just go for it too.
BTW, they are very clear that this promo will only apply to those who got the email. Each link is unique it sounds like. But folks should check their email for the offer. I had just recently opened Ally Bank savings account for their 1% bonus.
updated to 5/31/2023 William Charles
Got a working link?
Actually I just now saw it on Firefox icognito (same address), but couldn’t get it to show up other ways.
The Ally bonus at https://www.ally.com/go/invest/promotion.html is now gone (page redirects). I thought it was still there a few weeks ago. It wasn’t that good of a bonus (or brokerage) anyway.
I’ve successfully received one bonus from Ally Invest (without issue) and am back for round two. I wouldn’t do it again and echo the sentiments of others here who advise staying away from Ally Invest. As others mention, Ally’s handling of cost basis is suspect – if you transfer assets in, you probably shouldn’t count on them getting cost basis right. When I travelled out of the country and logged into my account, Ally locked me out of the account for weeks during a period of high market volatility. I don’t think the bonus is worth putting assets at risk with this broker, but to each their own.
NAME your cash bonus is on its way. Keep an eye out for your bonus of $100, which will be deposited into your account ending in 1234 on or around 5/8/2022. We hope this cash bonus will help bring you a little closer to your investing goals, because when it comes to your financial well-being, we’re always here to help.
Nice to see the update and expected times on when the bonus will appear. Thankfully i don’t use ALLY for my investments, thanks for the $100 for parking $500.
Just got an offer (existing Ally user) for $150 bonus for opening brokerage with them with only a $500 minimum deposit!
Received the same offer but for $250. I don’t see any wording saying we need to make any transactions correct? Can just park the $500 in there until bonus hits and then withdraw
Got the email offer as well. Easy $150!
1. Open a new Ally Invest account via the link in this email between 2/23/2022 and 3/24/2022.
2. Deposit a minimum of $500 or more by 4/8/2022.
3. Keep your new Ally Invest account open and in good standing for us to add your bonus to your account. We’ll pay your bonus by 5/8/2022.
They never paid out because they closed my account before I would have gotten the bonus. Really
Terrible app and interface, clunky, doesn’t load fast if at all at times. During 2021, multiple days when NO access whatsoever to account. One 3-day stretch during peak volatility, when access needed the most
Opened hoping for the bonus. Plenty of cost basis lost, yes, but I could fix that
Ally then out of the blue sent me an e-mail saying they’re closing my account as a “business decision” and I’d have to transfer all my holdings out to a brokerage of my choosing
No appeal, nothing. I was trading a lot? So? Keep a commission based fee structure then. Didn’t touch GME or anything else like that either. I’ve had so many brokerage accounts over the years and they all dealt with my small-time retail investor self
THEN they had the audacity to charge me a 50 dollar outgoing fee for closing an account I had no part in having closed even when their account closure e-mail clearly said I wouldn’t be charged
E-mailed them about it with their own words, and they said no, them’s the rules. Reached out to Ally on Twitter to get it rectified
Here’s a whole Twitter page dedicated to this incompetent clown brokerage: https://twitter.com/NotMyAlly1
I did move to Tradestation that, to its credit, ended up crediting me a bonus at the end of the year. Also paid out its crypto bonus like clockwork. Good overall brokerage
Still do have Ally bank accounts, have never had problems with those, so there’s that
Ally brokerage is nothing more than a joke. Stay away from them and deal with REAL brokers; Schwab, Etrade, etc. Nearly all have account opening or transfer bonuses.
I am reading the horror stories about lost cost basis and incompetence at every level. Is it possible to do a partial ACATS , say move just $25,000 of one stock over and still earn $250? It would only have a couple tax lots. Hard to screw up, but it sounds like it may not be worth the effort and time trying to fix whatever they do screw up.
Yes you can do a partial ACATS, to hit the level you want. Cost basis screw ups can happen anywhere, though not common (I had it once with ETrade to M.Edge). Ally brokerage is clunky, so better to bring something you just want to hold and not trade. Also consider fees to ACATS out.
Clowns can’t even do KYC verification correctly, total waste of time
Is this part of Ally Financial formerly GMAC?
Yes, I am actually surprised someone knows about GMAC.
It’s more surprising that almost everyone seems to have forgotten about GMAC, Lehman and all those crap scams.