Brokers For IRA Accounts

How well are you investing for your retirement? These days, even a 401(k), 403(b) or other employee sponsored retirement account may not be enough. Opening an IRA or individual retirement account is always a good idea, as a way to supplement your retirement portfolio. A Traditional IRA or a Roth IRA can help you grow your long term savings and investments. When you leave your employer, consider doing a rollover into an IRA. Online brokers offer both regular accounts and IRA accounts for investors. Check out our list of best brokers for retirement accounts and funds.



open account
  • Totally free IRA accounts: no set up fees, no annual fees, and no termination fees, ever.
  • Has interactive online retirement planning tools and access to retirement planning professionals so that you make the most of your retirement dollars.
  • Receive totally self directed investment options that allow you to completely customize your retirement investment experience.
  • Offers a side by side IRA Account investment tool that helps you choose the right type of IRA for your retirement needs.
  • Access to a wealth of educational IRA articles and interactive tools aimed at making retirement investing simple and profitable.
Stock Trades Options Base Options Contract Minimum Deposit Broker Assisted Fund Trades
$7.00 $7.00 $1.25 $500.00 $27.00 $0.00 - $17.00


open account
  • OptionsHouse offers a wide range of accounts including Individual, Corporate, Roth IRAs, SEP IRAs, Traditional IRAs, Joint, UTMA, UGMA, Trusts, Partnerships, Investment Clubs, and Educational IRAs.
  • You can open a cash account for $1,000 and a margin account for $2,000. These are minimum balances.
  • A simple wire transfer can help you fund your account. If you use the promo code WIRE25REFUND, you may be reimbursed for your wiring fee.
  • If you're an active trader, you'll appreciate the investment tools that OptionsHouse has available for use.
Stock Trades Options Base Options Contract Minimum Deposit Broker Assisted Fund Trades
$3.95 $8.50 $0.15 $0.00 $3.95 $9.95


open account
  • Has an easy to navigate retirement planning center designed to guide you through the retirement planning process from account opening to withdrawal.
  • Access to automatic investing tools that allow you to make regular deposits to your retirement account from the funding account you specify.
  • Provides an in-depth review of each IRA account to help you choose the right account for you.
  • Provides an easy retirement account rollover process for smooth transfer of retirement funds from one account to another without penalty or interruption of growth.
  • Access to a wealth of independent research and professional commentary and insight.
Stock Trades Options Base Options Contract Minimum Deposit Broker Assisted Fund Trades
$7.99 - $9.99 $7.99 - $9.99 $0.75 $500.00 $45.00 $0.00 - $19.99


open account
  • No minimum initial investment for opening any one of several IRA accounts including traditional, Roth, or rollover accounts. $30 annual fee applies.
  • Has broad investing options for retirement accounts including mutual funds, options, ETFs and more.
  • Offers hundreds of educational articles designed to help you manage your own financial future.
  • Access to interactive tools designed to help you model and execute retirement investment strategies for maximizing retirement fund growth.
  • Offers professional advice to help novice investors diversify their retirement portfolio and achieve financial independence.
Stock Trades Options Base Options Contract Minimum Deposit Broker Assisted Fund Trades
$4.50 $4.50 $0.50 $0.00 $19.99 $10.00


open account
  • Get more investment choices through OptionsXpress. You can trade bonds, equities, mutual funds, as well as options in your IRA.
  • There are no commissions or fees when you make regular contributions to fund your IRA.
  • Offers a wide variety of no-load mutual funds that have no commissions.
  • Offers a traditional, Roth, rollover and SEP-IRA.
  • You can also open IRAs for your children: a Minor Roth IRA, Minor Traditional IRA or a Coverdell Educational IRA.
Stock Trades Options Base Options Contract Minimum Deposit Broker Assisted Fund Trades
$9.95 $0.00 $1.50 $0.00 $9.95 $9.95 + LOAD FEE


open account
  • Open and manage a traditional or Roth IRA (individual retirement account) in minutes through the simple Sharebuilder IRA interface.
  • Offers a free online 401(k) rollover service that will transfer your funds within 4 to 6 weeks.
  • One of the only discount online brokers that offers small business 401(k) management for businesses with 1-50 employees.
  • Access to a wealth of retirement planning educational information designed to help you maximize your retirement income.
  • Has an interactive retirement planning tool that allows you to model different retirement scenarios and helps you pick the right one for your needs.
Stock Trades Options Base Options Contract Minimum Deposit Fund Trades
$9.95 $9.95 $1.25 $0.00 $0.00 - $19.95

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Different Types of IRA Accounts You Can Own

An IRA, or individual retirement account, is an investment account designed to help investors grow their money in order to support their lifestyles during retirement. There are several different types of IRAs and choosing the appropriate account type to match your long term goals can take some analysis of your personal situation and requirements (as well as potential forecasting). However, a financial adviser coupled with the right broker may be able to help you navigate through the process of planning your retirement, boosting your savings and helping create a strategy that is right for you.

Traditional IRA: A traditional IRA allows individuals to make tax-deferred deposits per year into the account. Under certain circumstances, the amount of money you deposit into your account may be deducted from your adjusted gross income on your tax return, thus reducing the amount of tax you are responsible for. But the greatest tax benefit that applies to all account holders is that an IRA keeps your money tax deferred. When you begin withdrawing your retirement funds from the account after age 59 ½, you will have to pay regular income tax on the money. The one major drawback to this type of account is that if you find yourself having to withdraw the money before age 59 ½, not only will you have to pay income tax, but you will also have to pay a 10% penalty for early withdrawal.

Roth IRA: The Roth IRA is a spin on the traditional IRA and was first offered in 1997 to middle class individuals looking for a better way to save money for the long term. The Roth IRA differs from a traditional IRA in two major aspects. One, the deposits made to the Roth IRA are not tax-deferred, meaning that you must pay income tax on the money you deposit before you deposit it. And secondly, the money can be withdrawn at any time for any reason without taxation or penalties, at least on the principal. You will have to pay income tax on the gains as you withdraw them. The main drawback to the Roth is the income limits. Single filers can make full contributions to the account as long as their annual income does not exceed a certain amount, while married filers cannot have a combined annual income over a particular amount in order to qualify.

Rollover IRA: A rollover IRA can be either a traditional IRA or a Roth IRA. A rollover IRA is simply an IRA that is funded through a transfer of funds from another retirement account (typically an employee sponsored one). A rollover IRA receives its initial funding when you close a 401(k) or other IRA account and move the funds here directly into the rollover account.

SEP-IRA: A SEP IRA is known more formally as a Simplified Employee Pension Individual Retirement Account. This type of IRA is used by business owners as a way to set up a retirement benefit for both the owners and employees. Since these accounts are simply a variation of a traditional IRA, they work in much the same manner.

Understanding which type of IRA is right for your specific circumstances takes some self-assessment. When making a decision, you may want to consult with a retirement planning professional, but this is something you can certainly study on your own. To make the appropriate choices for your retirement investment portfolio, you can select an online discount brokerage that offers IRAs. Those brokers that have banking services may allow you additional flexibility given that they can house multiple account types in your name.