- 5 IRA types: Roth, traditional, SEP, beneficiary, rollover
- Access to: ETFs, options, stocks & futures
- Annual fee: $0
10 best IRA accounts for 2024
From best for rollovers to best for beginners, Finder's analysis identified the best-in-class IRA accounts to open for trading and investing.
An individual retirement account (IRA) is a staple investment account in the US, giving retirement savers valuable tax advantages to save for life after work.
When opening an IRA, you want to pay attention to the IRA custodian — the bank, broker or other IRS-approved entity that offers this retirement account. It’s the custodian that dictates the types of fees you’ll pay, the investments you can choose from and the features you can leverage to trade and invest. The contribution limits, tax benefits and withdrawal rules remain the same no matter where you open an IRA.
Below is a curated list of the ten best online IRA accounts of 2024 and where they shine brightest, according to Finder’s analysis.
Our top picks for IRA accounts
- 4 IRA types: Traditional, Roth, SEP, Rollover
- Access to: Over 265 low-cost mutual funds
- Annual fee: $25
- 6 IRA types: Roth, traditional, inherited, SIMPLE, SEP, rollover
- Access to: Stocks, bonds, ETFs, mutual funds, options, futures & currencies
- Annual fee: $0
10 best IRA accounts of 2024
- Best overall: Fidelity
- Best for financial guidance: SoFi Invest
- Best for options trading: tastytrade
- Best for mutual fund investing: Vanguard
- Best for mobile trading: Interactive Brokers
- Best for rollovers: Robinhood
- Best for hands-off investors: Betterment
- Best for crypto trading: TradeStation
- Best custodial IRA account: E-Trade
- Best for research tools: Charles Schwab
Best overall
Fidelity IRA
Finder score
Fidelity's a full-service broker that's kept up with the times. It offers not only an extensive lineup of investment options and the top-tier research tools and trading platforms that you'd expect to find with a leading broker but also the modern features that have made investing so much more accessible in recent years — things like fractional shares, $0 trading commissions and some of the lowest back-end account fees in the industry. Meanwhile, Fidelity offers industry-leading planning and advice resources, including both human and robo-advisor portfolio management services.
Fidelity caters to investors of all backgrounds, with over 42 million individual investors and over $11 trillion in assets under management. Fidelity is a powerhouse in the brokerage space, and its focus on providing a well-rounded trading and investing experience makes it the best overall broker to open an IRA according to Finder's analysis.
Other winning category: Best IRA account without fees
Stock trade fee | $0 |
---|---|
Minimum deposit | $0 |
Signup bonus | Get $100 when you open and fund an account with $50 and use code Fidelity100 |
Best for financial guidance
SoFi IRA
Finder score
SoFi Invest is one of the only brokers in the industry that offers unlimited, complimentary access to certified financial planners, a service that can cost you several hundred dollars a session. As a SoFi customer, these consultations come at no additional cost.
Connect with a SoFi financial planner and discuss anything from investment strategies to paying off debt to tax planning. Meanwhile, its robo-advisor is available with no management fees — another industry rarity. Trade stocks, ETFs, options and crypto with a broker that makes investing approachable and professional financial guidance accessible.
Stock trade fee | $0 |
---|---|
Minimum deposit | $0 |
Signup bonus | N/A when you contribute to a SoFi IRA |
Best for options trading
Tastytrade IRA
Finder score
Designed primarily for derivatives trading, tastytrade boasts an impressive collection of trading products in its IRAs and some of the best pricing on options and futures contracts in the industry. Stocks and ETFs are commission-free, options have no closing commissions and its trading platforms are powerful, with advanced trading, research and analysis tools, including profit and loss visualizations and a quick roll feature to roll your option position into the future.
Meanwhile, tastytrade offers a comprehensive learning center with video and live demos to help you level up your trading.
Stock trade fee | $0 |
---|---|
Minimum deposit | $0 |
Signup bonus | N/A |
Best for mutual fund investing
Vanguard IRA
Finder score
One of the most trusted names in the industry, Vanguard's history dates back to when it launched its first mutual fund back in 1929. Today, Vanguard stands out for its vast low-cost fund collection that keep long-term investors sticking around.
With its unique investor-owned model, Vanguard fund owners get more than a collection of index funds, actively managed funds, target retirement funds and environmental, social and corporate governance-focused funds. Owning these funds means you own Vanguard.
Stock trade fee | $0 |
---|---|
Minimum deposit | $0 |
Signup bonus | N/A |
Best for mobile trading
Interactive Brokers IRA
Finder score
In addition to receiving high marks from both Apple and Android users, Interactive Brokers' (IBKR) main mobile trading platform, IBKR Mobile, offers the powerful trading tools that many brokers reserve for their web and desktop trading platforms. These include advanced, interactive charts with over 90 indicators, analyst ratings and price targets, earnings estimates, company financials and more. In other words, there's little you can't do with IBKR Mobile. What's more, Interactive Brokers offers the more beginner-friendly IBKR GlobalTrader and IMPACT mobile trading platforms for those looking for a more simplified investing experience.
IBKR Mobile is the most feature-rich mobile platform according to Finder's analysis, while IBKR GlobalTrader is a solid option for beginners. Tack on its wide range of investment options, low trading costs and access to global markets and you can see why IBKR is not only the best IRA for mobile trading but also one of the best brokerage accounts on the market.
Other winning category: Best for international trading
Stock trade fee | $0 |
---|---|
Minimum deposit | $0 |
Signup bonus | N/A |
Best for rollovers
Robinhood Retirement
Finder score
It wasn't just its offering of commission-free trades that led Robinhood to transform the way people buy and sell stocks over the past decade but also its beginner-friendly mobile app with its intuitive design and agile interface, which simplified investing for the masses. Nothing's changed on that front. Expanded investment options, 24/5 trading and IRAs that pay matching contributions are just some of the upgrades Robinhood's made since first launching.
Robinhood's launch of its IRA matching contributions is yet another innovative product that keeps it steps ahead of other brokers. Earn up to a 3% match on annual contributions with Robinhood Gold — or 1% without — while all IRA transfers and 401(k) rollovers earn 1%, with no cap. All this on top of fractional share trading, 100% commission-free trades, instant deposits and a user-friendly platform that makes investing a breeze. Robinhood has lots to offer investors looking to build a retirement portfolio, and it'll reward you for making the move.
Other winning category: Best IRA account for beginners
Stock trade fee | $0 |
---|---|
Minimum deposit | $0 |
Signup bonus | Earn up to a 3% match with Robinhood Gold or 1% without when you contribute to an IRA |
Best for hands-off investors
Betterment
Finder score
Betterment introduced the world to robo-advisors when it first launched onto the scene in 2010 with its automated portfolios of stocks and bonds, and it's been at the top of the robo-advisory service pack ever since. Today, Betterment's refined automated investing platform includes numerous curated portfolio options, a high-yield cash account and access to a human advisor, which has helped it rack up over 800,000 customers and more than $40 billion in assets under management.
Stock trade fee | $0 |
---|---|
Minimum deposit | $10 |
Cash sweep APY | 4.75% |
Signup bonus | N/A |
Best for crypto trading
Tradestation Crypto IRA
Finder score
'You can't trade crypto in our IRAs.' That's a limitation we see all too often with most brokers we review. TradeStation fills that void, offering not only stocks, ETFs, options and futures trading in its IRAs but also crypto.
Choose between its traditional, Roth, SEP and SIMPLE IRAs, and invest in bitcoin (BTC), ether (ETH) or USD Stablecoin (USDC). And customer support's standing by 24/7, should you need them.
Stock trade fee | $0 |
---|---|
Minimum deposit | $2,000 |
Signup bonus | N/A |
Best custodial IRA account
E-TRADE IRA
Finder score
Minors and young adults needn't look further than E-Trade to get started investing for the later years in life. Pioneer of online trading, E-Trade offers one of the most diverse lineups of IRA account types among brokers we review. Six IRA types in total, including custodial IRAs
While an adult is required to manage the account, E-Trade's IRA for minors offers traditional and Roth IRAs for children under 18 years old with earned income. No annual IRA fees, no account minimums, just access to a wide range of investment choices, including commission-free stocks, options and ETFs. Tack on its robo-advisor, Core Portfolios, for a straightforward, automated portfolio option.
Stock trade fee | $0 |
---|---|
Minimum deposit | $0 |
Signup bonus | N/A |
Best for research tools
Charles Schwab
Finder score
Sometimes a big broker like Charles Schwab is exactly what you need. Newcomer investing apps may have the edge in terms of offering a more enhanced user experience, but traditional brokers like Schwab sweep the floor with these apps when it comes to the breadth of investment options, access to expert guidance and, for self-guided investors, extensiveness of research tools.
There's Schwab Equity Ratings, MSCI ESG ratings, Morningstar ratings, Thomson Reuters ratings, CFRA ratings, Argus ratings and MarketEdge ratings. There's premium analyst reports, screeners, market news and stock lists. There's dividend history and growth statistics, expected and historical earnings information, a peer and ratios comparison, detailed company financials and time-saving technical analysis summaries. In other worse, an IRA with one of the nation's largest investment services firms may just be what you need if research plays a big role in your investment strategy.
Stock trade fee | $0 |
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Minimum deposit | $0 |
Cash sweep APY | 0.45% |
Signup bonus | Get $101 when you open and fund an account with a minimum of $50 |
Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.
Finder is not an adviser or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
Methodology: How we choose the best IRA accounts
Finder’s investments experts review 18 brokers available on the market to narrow down the best IRAs for trading and investing.
We analyze each platform based on 147 key metrics we collect directly from brokers and assess each provider’s performance based on eight different categories, weighing each metric based on the expertise and insights of Finder’s investment experts. We then score and rank each provider depending on how it performs in each category. If a broker offers a unique, standout feature that’s a key distinguisher between others, the broker is given additional recognition.
How we weigh the overall rating
Investment options | Trading platforms | Trading costs | Account fees | Account types | Customer support | Mobile app reviews | Features |
---|---|---|---|---|---|---|---|
21% | 12% | 9% | 13% | 5% | 7% | 8% | 25% |
We update our best picks as products change, disappear or emerge in the market. We also regularly review and revise our selections to ensure our best provider lists reflect the most competitive available.
How do I open an IRA?
Opening an IRA isn’t much different than opening a brokerage account or bank account. With most providers, you can open an IRA online in minutes.
Choose a broker or robo-advisor, and complete a brief application by providing personal information such as your name, address, date of birth and Social Security number. Completed applications are typically approved instantly, though the broker may take a couple days to verify your information. Then, connect a bank account to fund your account or rollover an old 401(k).
What to look for when choosing the best IRA account
Finder’s picks for the best IRA accounts are meant to provide you with a starting point for finding the right broker for your retirement. That said, it’s important to consider your personal preference and individual investing goals too.
Consider the following factors when comparing your options:
- Fees. From trading fees to miscellaneous fees, it’s important to understand the cost to trade and invest. Consider which investment products you plan to trade and the fees that apply, but also be mindful of any back-end fees, such as inactivity or transfer fees, that can also eat into your profit.
- Tradable assets. Not every IRA custodian offers the same investment options in an IRA as it does in an individual brokerage account. Stocks and ETFs are standard, but what if you want to expand into options, mutual funds or bonds?
- Account types. What other account types, in addition to IRAs, does the custodian offer? Consider your other investment needs and how important it is to maintain all your accounts under one roof.
- Research and data tools. In-house research and tools simplify investing, as you don’t have to venture elsewhere to make an informed decision about an investment. If you’re a passive index investor, extensive research and analysis tools may not matter all that much. Active stock pickers may feel otherwise.
- Mobile app reviews. Mobile trading is more popular than ever, allowing you to trade and invest from anywhere. Check out what current or previous customers say about the platform’s functionality.
- Signup bonus. While it may not make sense to choose an IRA custodian solely based on whether or not they offer a signup bonus, a new customer incentive such as a free stock may be enough to help you choose one over another if all else is equal.
Traditional IRAs vs. Roth IRAs: What’s the difference?
Before you open an IRA, you may want to consider the differences between traditional and Roth IRAs.
The main difference is how they’re taxed: Contributions to traditional IRAs are tax-deductible, but distributions in retirement are taxed. Roth IRAs, on the other hand, allow tax-free distributions in retirement, but you need to pay taxes when you make your contributions.
If you’re saving and building up gains in the account for a long time and think you’ll be in a higher tax bracket when you leave the workforce, a Roth may be a better option. But if a tax deduction in the year in which you made the contribution is more important, then a traditional IRA may be more suitable. Alternatively, open a traditional IRA and a Roth IRA, if you’re eligibile, for a choice of taxable or tax-free contributions and income when you retire. You can’t contribute more than the total contribution limit for that tax year to all your IRAs, and Roth IRAs have specific income limits you need to meet to qualify to open an account.
What Bob suggests for long-term investors:
In theory, it makes sense to contribute more to a Roth IRA now if you think income tax rates will go up in the future, as you pay taxes now and not later. In reality, we can't reliably predict what will happen with income tax rates in the future. But a Roth may still be better because you don't pay taxes on investment earnings. We can't say the same for traditional IRAs.
— Bob Haegele, Personal finance writer and expert
Why invest in an IRA?
Investing through an IRA up to the $7,000 ($8,000 if you’re age 50 or older) limit in 2024 can help grow your retirement savings at a potentially quicker pace than if you were to invest that same $7,000 in a taxable brokerage account. That’s because IRA contributions and earnings grow tax-free or tax-deferred and you can enjoy tax-deductions or tax-free withdrawals in retirement, depending on which IRA type you go with — traditional IRA or Roth IRA. Plus, trade most assets in an IRA just as you would in an individual brokerage account.
But not all Americans who buy stocks do it through one of these accounts, Finder’s Consumer Confidence Index shows. Of Americans that invest in stocks, 45% trade and invest through a taxable brokerage account. Only 25% invest through an IRA and take advantage of these valuable tax benefits, while 21% have no IRA at all.
Compare and find the broker that's right for you
Match your experience level with your trading and investing goals to find the right broker for you.If you're a | And want to | Consider this |
---|---|---|
Beginner investor | Do most or all of your trading on your mobile device | Best stock trading apps |
Beginner investor | Trade and invest with as few fees as possible | Best discount stock brokers |
Beginner investor | Outsource portfolio management automatically and at a low cost | Best robo-advisors |
Beginner investor | Gain exposure to multiple assets like stocks, bonds or gold through a single fund | Best ETF brokers |
Experienced investor | Get an overall idea of providers on the market and what they're best for | Best brokerage accounts |
Experienced investor | Invest internationally in stocks, ETFs and other assets | Best international stock brokers |
Retirement saver of any experience level | Save for retirement with upfront tax benefits | Best (traditional) IRA |
Retirement saver of any experience level | Save for retirement and enjoy tax-free withdrawals | Best Roth IRA |
Frequently asked questions
What is the best type of IRA to have?
Ultimately, it’s up to you to decide which IRA type is best for you. A traditional IRA might be best if you want an immediate tax break and want to postpone paying taxes on your money until you’re in retirement. A Roth IRA might be best if you want you’re money to grow tax-free and want tax-free withdrawals in retirement.
What is the best IRA to avoid taxes?
Unfortunately, no IRA will let you avoid taxes. You’ll have to decide whether you want to pay taxes now or in retirement.
Which investments are best for IRAs?
Choosing the best investments for your IRA account depends on your risk tolerance and how close you are to retirement. For those with a higher risk tolerance, you may choose to invest in stocks in the volatile tech sector, whereas those with a lower risk tolerance might choose to invest in fixed income (bonds) or less volatile dividend stocks and ETFs.
If you don’t want to have to think too deeply about how to invest in your IRA, you may want to open an IRA with a bank or platform that offers a robo-advisory service — or a service that selects assets for you to invest in and automatically rebalances your portfolio according to your risk tolerance.
Where is the safest place to put an IRA?
Banks, registered brokers and other financial institutions that are IRS-approved typically provide the safest place to put an IRA. If you hold an IRA at an FDIC-insured bank, any bank deposit products in your IRA, such as a certificate of deposit, is insured up to $250,000 in the event the bank goes under. Meanwhile, SIPC-registered brokers insure customers up to $500,000 in cash and securities per account.
What is the best way to fund an IRA?
The best way to fund an IRA is by cash, check or online transfer from your bank. If you have an IRA at another financial institution, you can also roll over your funds into a new IRA.
Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.
Finder is not an adviser or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
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