IB vs Ally

[i_have_so_much_to_learn]

I am thinking of transferring my brokerage from Ally Invest to IB to take advantage of IB's low margin loan rates.

Does anyone have experience using IB and Ally Invest, to talk about some pros and cons of moving?

It appears that IB is a winner in this comparison: https://www.stockbrokers.com/compare/ally-invest-vs-interactivebrokers

But How difficult is it to use?

Thanks!

[MustacheAndaHalf]

Yes, weighing solely on margin loan interest rates, IBKR is the best pick I've found.  I believe Robinhood might be a better comparison than Ally Invest, if you're optimizing for margin rates.

What will you do with the margin loan?  Invest in more stocks and ETFs, creating leveraged returns (up or down)?

What do you plan to invest in?  You can also get leverage from certain ETFs or using options.

[i_have_so_much_to_learn]

I've been wanting to buy a multifamily and the commercial loans I'm getting are >5%... IB loans are 1.5% for first 100k so as long as I stay away from the margin limit (2:1), I think 1.5% is a killer rate.

Any thoughts on that?

Thank you!