Best IRA Accounts




Best IRA Accounts

Best IRA Account Companies: 2016 IRA Provider Reviews and Ratings. Free ROTH, 401K, Rollover IRA Plans from Banks and Online Brokers.




Best IRA Firms

TDAmeritrade IRA reveiw
TD Ameritrade IRA Commissions
ProductPricing
Stocks and ETFs $9.99
Stocks and ETFs broker assisted $49.99
Options $9.99 + $0.75 per contract
No-load mutual funds $49.99
Treasuries at auction $25
All other bonds and CMOs, CDs on a net yield basis
Futures $2.25 per contract plus exchange & regulatory fees
Forex Non-commission currency pairs trade in increments of 10,000 units (and do not contain a "#" symbol suffix). There are no additional fees or charges.


TD Ameritrade IRA Accounts Offered
  • Traditional IRA
  • Roth IRA
  • Rollover IRA
  • SEP IRA
  • SIMPLE IRA
  • Individual 401k (for small business)


TD Ameritrade IRA Fees

  • IRA setup fee: $0
  • Annual IRA fee: $0
  • IRA Termination Fee: $0
  • Outbound Full Account Transfer: $75
  • Outbound Partial Account Transfer: $0


TD Ameritrade IRA Review

TD Ameritrade charges flat-rate $9.99 per trade commission for stocks and ETFs, for unlimited shares and without any volume requirements. The firm has no IRA fees, aside from outgoing account transfer charges. There are no account inactivity and maintenance fees.

The company is pretty expensive for stocks, ETFs and, especially, for mutual fund investors. But customers get access to one of the largest selections of no-transaction-fee (NTF) mutual funds, and 100+ commission-free ETFs that allows many clients to invest without paying any commissions.

Read full TD Ameritrade IRA Review





Best IRA Firms

Scottrade IRA Review
Scottrade IRA Commissions
ProductPricing
Stocks and ETFs $7
Stocks and ETFs broker assisted $32
Options $7 + $0.70 per contract
Mutual funds $17
CDs, OTC Secondary Corporates, OTC Secondary Municipals,
U.S. Treasury Bills, Notes, Bonds and STRIPS, New Corporate Offerings
subject to a markup or markdown
Listed Corporate Bonds $35 + $3 per bond (minimum investment $1,000)
Unit Investment Trusts (UIT) $50 liquidation fee
Foreign Stocks Transferring In or Out $60


Scottrade IRA Accounts Offered
  • Traditional IRA
  • ROTH IRA
  • Simple IRA
  • SEP IRA
  • 401K Plans
  • Defined Benefit
  • Money Purchase
  • Keogh DVP
  • Rollover IRA


Scottrade IRA Fees

  • IRA setup fee: $0
  • Annual IRA fee: $0
  • IRA termination fee: $0
  • Outbound Full Account Transfer: $75


Scottrade IRA Review

Scottrade charges flat fee of $7 on every stock or ETF online trade. This fee remains the same no matter how many trades you do with your Scottrade account. Trades made with broker assistance cost $32. As far as options are concerned, Scottrade asks for $7 plus $0.70 per contract, and $17 for options exercises and assignments. Mutual funds in the No-Load, No-Transaction Fee (NTF) program are free to buy and sell; no-load funds not in the program are $17 per transaction.

Read full Scottrade IRA Review





Best IRA Accounts

TradeKing IRA Commissions
ProductPricing
Stocks and ETFs $4.95
Options $4.95 + $0.65 per contract
Mutual funds $9.95
Bonds $1 per bond with $10 minimum, $250 maximum
Treasuries commission-free
Certificates of Deposit (CDs) $24.95


TradeKing IRA Accounts Offered
  • Roth IRA
  • Traditional IRA
  • Rollover IRA
  • SIMPLE IRA
  • SEP IRA
  • Coverdell Education Savings Account (ESA)


TradeKing IRA Fees

  • IRA set-up fee: $0
  • Annual IRA fee: $0
  • IRA termination fee: $50
  • Full transfer out: both a $50 transfer fee and a $50 termination fee
  • IRA conversion fee (regular to roth or vice versa): $50
  • Inactivity fee: $50, if total accounts balances are below $2,500 AND no trades in the last 12 months


TradeKing IRA Review

TradeKing holds an interesting niche in the brokerage industry, and has positioned itself as a large-size but low-cost broker offering a high functionality website with a variety of tools for all investor experience levels. In particular, the TradeKing IRA accounts have the versatility that modern investors are looking for, whether they are active traders, beginners, or simply long term investors. While at some companies IRA accounts are limited in the types of investments available, TradeKing offers some vehicles and tools that others do not.

TradeKing promotes itself through its pricing, which is the same for both regular and IRA accounts. They charge a flat $4.95 for all stock and ETF trades, with the same rate for options plus $0.65 per contract. Mutual funds cost just $9.95 per transaction. That is about as low as any discount broker, and this pricing continues to be at the center of their marketing and customer retention efforts. If one is an active trader within the IRA account, the fee structure is attractive since commission costs will be low. They do have a chart on the site that shows standard fees for their competitors, with theirs as the lowest for any given type of trade. Their conclusion is debatable, since they have cherry-picked the highest fee structures from other brokers to create the comparison. Nonetheless, few brokers can actually beat their price, and none of them can also equal or beat the features available at the TradeKing's website.

Read full TradeKing IRA Review






About IRA Reviews

The two most popular sources for non-employer IRA plans are banks and online investing brokers (broker-dealers). The main difference between having tax-exempt IRA at the brokerage firm as oppose to the bank is larger selection of investment products to choose from: stocks, ETFs, mutual funds, bonds, and others. Some banks want to remove this disadvantage and in addition to banking products also offer their clients brokerage services (Bank of America, Capital One, and Wells Fargo).

In 2016 we rated four online brokerage firms as Best IRA Account Providers for individuals: Scottrade, TD Ameritrade, TradeKing, and Optionshouse. Every company in this list has its strengths and weaknesses, and might not be right for your needs. We recommend clients to take a time to read detailed IRA reviews, to see if a particular firm is right for you - only you can decide which company will be your own number one.

IRA Fees: All four brokers don't have IRA setup, annual IRA or account maintenance fees. Some firms charge customers for closing their tax-exempt retirement account. Many IRA providers charge for moving account out to a different institution. Out of our top-rated firms, only TradeKing has a $50 inactivity fee if BOTH apply: account balances below $2,500 AND no trades in the last 12 months.

All companies listed here are either SIPC or FDIC insured. Brokerage clients money and investments are protected by the U.S. government organization - SIPC. SIPC provides up to $500,000 of protection for brokerage accounts held in each separate capacity (e.g., joint tenant or sole owner), with a limit of $250,000 for claims of uninvested cash balances. Bank accounts are insured by FDIC. The basic FDIC insurance amount is $250,000 per account holder per insured bank for deposit accounts and $250,000 for certain retirement accounts deposited at an insured bank. These insurance limits include principal and accrued interest.

If you would like to learn more about top brokerage firms, go to Top rated brokers or Brokerage firms.

You could also add review of your own IRA account, leave comment or feedback, or ask a question at the end of the each article for any company listed on the website. If you would like to see a review of an institution not listed here, please send us a message.

The IRA firm reviews, rankings and ratings provided on our website are our own opinion unless specified otherwise. Data was partially updated in 2016 and is subject to change at any time.

Article was updated on 3/5/2016.




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