11
Best IRA Accounts Of 2026
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Earn up to $1,500 when you open any individual investing account (including an IRA) and complete a qualifying deposit or rollover**
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$10 to start investing
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Summary of Best IRA Accounts
| IRA Account | Forbes Advisor Rating | Best IRA For | Account Minimum | Learn More |
|---|---|---|---|---|
|
Best Overall IRA
|
$0
|
Read Forbes' Review
| |
|
Advanced Investors
|
$0
|
Via InteractiveBrokers' Secure Website
| |
|
|
Active Traders
|
$0
|
Read Forbes' Review
| |
|
|
Financial Advisory Services
|
$0
|
Read Forbes' Review
| |
|
|
Low-Cost Fund Investing
|
$0
|
On Vanguard's Website
| |
|
|
Mobile App Management
|
$0
|
Read Forbes' Review
| |
|
|
Accessible Advisory Services
|
$0
|
Best IRA Accounts
All of the IRA accounts in our rankings are free to open and support no-fee trading. They also allow IRA rollovers with no incoming transfer fees and let you link your bank account to fund your IRA.
We only included IRAs from brokerages that are members of the Securities Investor Protection Corp. (SIPC)
Fidelity
Best Overall IRA
Fidelity
Account Minimum
$0
Account Closure
$0
Premium Wealth Services Available
Yes
$0
$0
Yes
Whether you’re just starting to think about retirement or you’ve been saving for a while, Fidelity’s traditional IRA is an excellent option to grow your long-term wealth. Fidelity’s IRA products are best-suited for those looking for a low-cost vehicle with access to support and educational resources.
Fidelity offers a range of asset types, with many low-cost funds on offer. Added perk: The firm also charges lower fees than many other brokerages, with no fees for account closures or transfers. We appreciate Fidelity’s robust educational and research resources, which are especially helpful to beginner investors.
- Extensive investment options, including fractional shares
- Low fees, including no fees for account closure and transfers
- Many index and low-cost exchange-traded funds (ETFs) to choose from
- Robust educational resources for investors
- Several advisory services for different asset sizes
- No self-directed IRA available for alternative assets (e.g., private equity, real estate)
- Fidelity’s Active Trader Pro (for active traders) is considered less competitive than its peers
- Traditional IRA
- Roth IRA
- SEP IRA
- SIMPLE IRA
- Custodial/Minor IRA
Interactive Brokers
Best IRA For Advanced Investors
Interactive Brokers
Account Minimum
$0
Account Closure
$0
Premium Wealth Services Available
No
$0
$0
No
Interactive Brokers scores high for the variety of asset types it offers in its traditional IRA account, as well as its competitive fee structure.
We think IBKR is best for active traders and advanced investors who can take advantage of the firm’s sophisticated tools and trading platforms. Though you won’t be able to access advisory services or customer support on nonbusiness days, IBKR’s in-depth educational resources and market insights are available.
- Variety of investment options
- Low fees, including no transfer or closure fees
- Extensive research and educational resources
- Several avenues for customer support
- No human advisory services
- Customer support is not available 24/7
- Traditional IRA
- Roth IRA
- SEP IRA
- SIMPLE IRA
- Self-Directed IRA (SDIRA)
E*TRADE from Morgan Stanley
Best IRA For Active Traders
E*TRADE from Morgan Stanley
Account Minimum
$0
Account Closure
$0
Premium Wealth Services Available
Yes
$0
$0
Yes
Providing access to a range of investment products and a wealth of research and insights from parent company Morgan Stanley, E*TRADE is a solid choice for your IRA account.
E*TRADE is especially useful for active traders who want to be hands-on with their retirement investments.
- Wide selection of investment products
- Robust research and educational materials
- 24/7 customer support is available
- Wealth advisory services are available
- No stock fractional shares (but ETF fractional shares are available)
- Limited email support
- Traditional IRA
- Roth IRA
- SEP IRA
- SIMPLE IRA
- Self-Directed IRA (SDIRA)
- Custodial/Minor IRA
Charles Schwab
Best IRA for Financial Advisory Services
Charles Schwab
Account Minimum
$0
Account Closure
$0
Premium Wealth Services Available
Yes
$0
$0
Yes
With Schwab, you can open an IRA with no initial deposit, and there is no annual maintenance fee. Through Schwab, you can access a wide range of investment options, with zero commission for online trades of stocks, ETFs and many mutual funds. There are thousands of mutual funds to choose from, including Schwab funds: a low-cost option with no load or transaction fees.
- Wide selection of investment products
- Comprehensive educational resources and research
- Robust customer support options, including branch access
- Several options for advisory services from robo-services to traditional humans
- $500,000 minimum for full advisory services
- Outgoing transfer fee ($50 for full IRA transfer)
- Traditional IRA
- Roth IRA
- SEP IRA
- SIMPLE IRA
- Self-Directed IRA (SDIRA)
- Custodial/Minor IRA
Vanguard
Best IRA for Low-Cost Funds
Vanguard
Account Minimum
$0
Account Closure
$100
Premium Wealth Services Available
Yes
$0
$100
Yes
Vanguard is known for its suite of low-cost investment options. The popular fund house offers reduced fees on a wide selection of mutual funds and ETFs. Vanguard ETFs can be purchased for as little as a dollar, making them great for novice investors.
There is also no charge for opening a Vanguard IRA; however, there is an annual account service fee of $25.
- Solid selection of investment products
- Robust in-house research and informative content
- Several advisory options for different asset sizes
- High transfer and account closure fees
- 24/7 customer support is not available
- Traditional IRA
- Roth IRA
- SEP IRA
- SIMPLE IRA
- Self-Directed IRA (SDIRA)
Wells Fargo Advisors
Best IRA For Mobile App Management
Wells Fargo Advisors
Account Minimum
$0
Account Closure
$49.95
Premium Wealth Services Available
Yes
$0
$49.95
Yes
With a comprehensive selection of asset types and multiple advisory services to choose from, Wells Fargo Advisors is a worthwhile option for your IRA. If you like to manage your investments on the go, the firm is especially attractive for its highly rated mobile app, which has excellent ratings from over 12 million users.
One thing to note, however, is that fixed-income securities like CDs, bonds and Treasurys can only be traded over the phone. Additionally, customer service channels are limited to phone support, online chat and in-person assistance through financial advisors.
- Comprehensive selection of investment options
- Advisory services available
- Highly rated mobile app
- Limited customer support avenues
- Fixed-income security trades are placed on the phone
- Outgoing transfer and account closure fees
- Traditional IRA
- Roth IRA
- SEP IRA
- SIMPLE IRA
- Self-Directed IRA (SDIRA)
- Custodial/Minor IRA
Merrill Edge
Best IRA For Accessible Advisory Services
Merrill Edge
Account Minimum
$0
Account Closure
$49.95
Premium Wealth Services Available
Yes
$0
$49.95
Yes
You need a $20,000 investment to access a Merrill financial advisor, which is a much lower minimum than you’ll find at many brokerages.
If you want guidance from an expert but are starting with less money, Merrill is an option worth considering. You’ll also have access to a solid suite of in-house research and educational materials. However, you won’t be able to buy fractional shares with Merrill.
- Solid suite of investment products
- Access to in-house research and educational materials
- Lower minimum asset requirement for advisory services
- No fractional shares available
- Account closure and transfer fees
- Limited email support
- Traditional IRA
- Roth IRA
- SEP IRA
- SIMPLE IRA
- Self-Directed IRA (SDIRA)
- Custodial/Minor IRA
How Do You Choose the Right IRA Account?
To choose the right traditional IRA account for you, consider the factors we considered in our analysis:
Asset types. This includes the kinds of investments that the account supports, such as stocks, ETFs, mutual funds, bonds and other securities that can help you with your investment goals.
Account fees. The costs associated with opening, transferring or closing an account (including maintenance fees).
Trading fees and commissions. These are fees charged when buying or selling different asset types, and they can include commissions or other trading costs.
Customer services. This evaluates the accessibility and quality of support provided by the institution. Services include availability over phone, chat, email or via in-person assistance.
Educational resources. Materials, tools and guidance that are available to help you deepen your knowledge about retirement planning and investing.
Security. This assesses how the institution protects customer information, the strength of its cybersecurity, and how it responds to security-related complaints.
Insurance. This relates to the projections available for assets and their coverage, such as SIPC coverage for investment accounts and FDIC coverage for uninvested cash, as well as any additional coverage.
Reputation: What do external agencies say about the institution? This considers external evaluations (e.g., customer satisfaction) of the institution.
Benefits of an IRA
The main benefit of an IRA is that it’s a retirement savings account designed to help you save for your golden years with tax advantages.
Benefits of traditional IRAs include:
Anyone with earned income (e.g., wages, salary, self-employment) can open a traditional IRA. As long as you receive taxable income, you’re eligible to contribute to a traditional IRA.
Your IRA contributions could be tax-deductible. This will depend on your income as well as whether you have an employer-sponsored retirement plan. Find more information on IRA deduction limits.
Your money grows tax deferred. The money in your IRA won’t be taxed each year. Instead, you’ll pay taxes when you withdraw.
You can choose from a variety of investment assets. You can diversify your IRA with a range of asset types including stocks, bonds, mutual funds, ETFs and CDs, to name a few.
Early withdrawals might be subject to tax and a penalty. If you need to draw from your IRA funds early, you can do so. But you might have to pay tax and a 10% penalty if you withdraw before age 59½ unless an exception applies.
Did you know that if you contribute the maximum ($7,000 in 2025) each year from age 16 to 21 and then stop contributing, average market compounding will make you a millionaire by age 70? Young people should consider saving from their first job.
– Sherry Finkel Murphy, an on-demand certified financial planner (CFP) and founder of Madrina Molly, a financial planning education organization.
How to Open an IRA Account
After you choose the specific IRA account that works for you, it’s time to open an account.
- Head to the brokerage website or search the name of the institution with “IRA” to find the IRA web page. Once you’re on the traditional IRA page, you’ll see a button prompting you to open an account. Click on the button.
- Provide the requested information, which will likely include the following:
- Legal name
- Date of birth
- Email address
- Phone number
- Home address
- Government-issued ID number
- Social Security number or ITIN
- Employment information
- Bank account information
- You will be asked how you want to fund your new account. Options may include:
- Transferring funds from your bank account
- Writing a check
- Transferring from another IRA
- Rolling over funds from a different retirement plan
- You may be asked to provide information for one or more beneficiaries, the individuals who will receive the value of your IRA in the event of your death. This will require providing their names and identifying information, as well as your relationship to them and the percentage of the IRA they should receive.
- Complete the application with your signature and wait for confirmation from the institution.
- Once you receive confirmation that your IRA account is open and ready to use, you can begin adding funds and making investments.
Traditional IRA vs. Roth IRA
| Features | Traditional IRA | Roth IRA |
|---|---|---|
|
Taxes
|
Contributions may be tax-deductible, and you won’t pay taxes on earnings until you make withdrawals
|
Contributions are made with after-tax dollars, so you won’t pay taxes even when you make withdrawals
|
|
Contribution Limit in 2026
|
$7,500 ($8,600 for those over age 50)
|
$7,500 ($8,600 for those over age 50)
|
|
Withdrawals
|
Can withdraw at any time but may have to pay both taxes and a 10% penalty if you withdraw before age 59 ½ unless an exception applies
|
Can withdraw contributions at any time without penalty. But note that withdrawals of earning are tax-free only if the account is at least five years old and age 59½ or older (unless certain exemptions apply)
|
|
Eligibility
|
Anyone with earned income can contribute, but deductibility may be limited at higher incomes
|
Income limits affect eligibility. In 2025, the upper limit is $165,000 for individuals and $246,000 for married couples filing jointly.
|
|
Required Minimum Distributions (RMDs)
|
Starting at age 73, you’ll have to make certain minimum withdrawals each year.
|
No requirements.
|
|
Better For
|
Those who expect to pay the same or lower taxes when they need to make withdrawals.
|
Those who expect taxes to be higher when they make withdrawals, either because of increased wealth or changes in tax law.
|
What Is an IRA Rollover?
An IRA rollover is the process of moving funds from an existing retirement plan to a new plan. If you’re leaving a job, for example, you might move funds from your employer-sponsored 401(k) to an IRA. Usually, this process occurs tax-free.
If you receive an IRA or retirement plan distribution, you’ll need to roll it over to another account within 60 days to avoid paying taxes. Additionally, your rollover must happen between eligible plan types.
Keep in mind that a rollover is different from a transfer of assets. A rollover involves more than one type of retirement plan, while a transfer of assets happens between two accounts of the same type.
How Do You Transfer an IRA to a New Broker?
Transferring an IRA from one brokerage to another is a fairly simple process. These are the general steps you may need to take, but you should check with the new brokerage for specifics.
- Open your new brokerage account and find out what the broker process is for a direct IRA transfer, known as a “trustee-to-trustee” transfer. This might involve filling out a form or authorizing the transfer in another way. (Special note: Transfers are not taxable events.)
- Provide the account information associated with your older brokerage account.
- The new brokerage will contact the old one. Each will confirm your information and facilitate the transfer of your IRA.
How To Roll Over a 401(k) to an IRA
To roll over a 401(k) to an IRA, you’ll want to take the following steps.
- Consider whether rollover is a tangible net benefit. Does it give you access to better fees and investment options? If it doesn’t, make sure the benefit of consolidating your account is worth the increased fees.
- Pick a brokerage and open a new IRA account.
- Contact your 401(k) plan administrator and request a direct rollover to your new IRA account. Your new IRA administrator may be able to initiate this process for you. If you’re unsure who your 401(k) plan administrator is, you’ll need to go through your old onboarding documents or contact your former HR.
- Complete whatever paperwork is necessary to request the direct rollover.
- Wait for the funds to be transferred directly from your old 401(k) to your new IRA.
- Log in to your new IRA account and ensure that your funds are invested as you desire. If you skip this step, your money will likely remain sitting in a settlement account that earns very little interest and won’t be working for you.
Methodology
To determine the best IRA accounts, we analyzed accounts at 19 top brokerages, comparing each on 59 data points across multiple categories. These included investment types, account and trading fees, advisory services, insurance, customer support, educational tools, research resources and security.
This is the breakdown of our analysis:
| Category | Scoring Weight | Details |
|---|---|---|
|
Investment Types
|
17%
|
This category refers to the types of investment assets available (e.g., bonds, stocks, mutual funds, ETFs, futures, etc.).
|
|
Account and Trading Fees
|
28%
|
We factored in account opening fees, transfer fees, and account closure fees.
|
|
Educational Resources
|
10%
|
The education offerings we considered included in-house research, third-party research, articles, videos, webinars and podcasts.
|
|
Retirement-Specific Resources
|
5%
|
We looked for helpful content specifically covering retirement.
|
|
Insurance
|
5.5%
|
Insurance for a brokerage can refer to SIPC and other asset protection(s) available.
|
|
Other Brokerage Products
|
10.5%
|
This category is considered wealth advisory services.
|
|
Security and Reputation
|
6%
|
We factored in security measures like SSL technology and biometric authorization, as well as SEC regulation and BBB ratings.
|
|
Consumer Sentiment Index (CSI)
|
18%
|
This specialized index includes a sentiment rating incorporating customer service, the product’s user interface, fees, reliability and overall satisfaction.
|
Frequently Asked Questions (FAQs)
How much can I contribute to my IRA?
In 2026, you can contribute a maximum of $7,500 to your IRA. If you’re 50 or older, you can contribute an additional $1,100 as a catchup for a total annual contribution of $8,600. This annual limit applies across all IRAs combined.
When can you withdraw money from an IRA?
You can withdraw money from your IRA at any time. However, if you withdraw from a traditional IRA before age 59 ½, it can be subject to ordinary income tax and a penalty if you don’t meet a qualifying exception (e.g., certain medical or first-time home expenses).
Can I lose all my money in an IRA?
There are no guarantees in investing. But it’s helpful to look at the past when trying to predict the future. You can significantly reduce the risk of losing all your money in an IRA by diversifying your investments into something like a total stock market index fund.
How much can I withdraw from my IRA without paying taxes?
You will pay income taxes on your traditional IRA withdrawals regardless of your age. If you’re under 59½, you might incur a 10% penalty for withdrawals that don’t fit approved guidelines from the IRS.
Traditional IRA withdrawals are taxed at your federal income tax rate as income. If you time your withdrawals in years when your income is low, you can pay little to no income taxes on them. If you don’t need to make withdrawals yet and have a year of low income, you may want to consider converting a portion of your traditional IRA into a Roth IRA through a Roth IRA conversion.