No-Fee IRA Accounts
Services
Free IRA Accounts
In 2026, investors have plenty of IRA choices that do not charge annual maintenance or inactivity fees. Two major competitors in the "no-fee IRA marketplace" are
Webull and Charles Schwab. Both provide straightforward online account-opening processes. Their
commissions for online trades of U.S.-listed stocks and ETFs are $0, and neither broker requires a minimum initial deposit for a standard IRA.
Webull
Webull operates primarily as an online brokerage firm rather than through a traditional nationwide branch network. The company offers
Traditional, Roth, and Rollover IRAs with no account minimums or IRA maintenance fees. Online trades of
U.S.-listed stocks and ETFs have $0 commissions.
Webull IRAs provide access to stocks, ETFs, options, and bonds. Stock and ETF options also have $0 commissions,
although certain index options, oversized option orders, and some transactions can incur regulatory or exchange-related fees.
Webull also supports recurring investments, which can be helpful for retirement savers who want to invest automatically on a regular schedule.
Webull provides advanced trading software through its mobile app, browser-based WebTrade platform, and desktop program.
These platforms include charting, market data, research tools, and order-entry capabilities that can also be used to manage
retirement investments. With no account minimum, Webull can accommodate investors with both small IRA balances and much larger retirement portfolios.
Webull Free IRA Offer
Visit Webull Website
Charles Schwab
Charles Schwab is another major provider of retirement accounts and charges no fee to open or maintain its standard IRAs. There are no opening,
annual maintenance, monthly maintenance, or inactivity fees on Traditional, Roth, Rollover, SEP, SIMPLE, and other eligible Schwab IRAs. A full transfer of assets out of Schwab can carry a $50 fee.
Charles Schwab has more than 400 retail branches nationwide, giving it one of the largest physical branch networks among online brokers. You can place
online trades of U.S. exchange-listed stocks and ETFs for $0. Charles Schwab doesn’t require a minimum opening deposit for a standard IRA. Margin borrowing, however, requires at least
$2,000 in cash or marginable securities; options trading is subject to separate approval and strategy-specific requirements.
Charles Schwab lets you access more than 6,200 mutual funds. Thousands of funds are available through the broker’s no-transaction-fee programs. For
transaction-fee mutual funds, Schwab currently charges up to $49.95 or $74.95 to buy, depending on the fund, while online sales have a $0 transaction fee. Charles Schwab devotes a section of its website to comprehensive retirement planning.
Charles Schwab Free IRA Offer
Visit Schwab Website
IRA Fees Charged by Brokers
| Brokerage |
Setup IRA Fee |
Inactivity Fee |
Annual IRA Fee |
| Ally Invest | $0 | No | No |
| Charles Schwab | $0 | No | No |
| Choicetrade | $25 | $55 quarterly fee if customer makes fewer than five trades in a calendar quarter | $50 annual IRA fee, $25 IRA setup fee |
| E*TRADE | $0 | No | No |
| Fidelity | $0 | No | Retail IRAs and SIMPLE IRAs: $0 annual fee. Mutual fund annual low balance fee: $0. |
| Firstrade | $0 | No | No |
| Interactive Brokers | $0 | No | No |
| J.P. Morgan | $0 | No | No |
| Lightspeed Trading | $20 | $25 monthly minimum commission for accounts under $15,000, reduced by commissions generated during the month | $35 annual IRA fee; first year waived |
| Merrill Edge | $0 | No | No |
| Robinhood | $0 | No | No |
| SogoTrade | $0 | No | $25 annual IRA fee |
| TradeStation | $0 | No | $35 annual IRA fee |
| Vanguard | $0 | No | $25 annual account service fee may apply; it is waived with e-delivery and in several other qualifying situations |
| Webull | $0 | No | No |
| WellsTrade | $0 | No | No listed annual IRA maintenance fee; a $49.95 IRA termination fee can apply to certain full distributions or terminations |
Brokerage Maintenance, Setup, and Annual IRA Fees
Every year, IRA setup fees at discount brokerage firms are
becoming less common. Only a small number of brokers still charge them, which is a major change from 10 years ago. If the trend continues,
IRA setup fees could eventually disappear almost entirely.
Finding a no-fee IRA account with no annual or setup fee is important, but cost should not be the only consideration when deciding where to open an
individual retirement account. Other factors, including trading commissions, miscellaneous fees, available investments, retirement education and calculators, investment
research, trading technology, and customer support can be just as important.
Updated on 8/31/2026.
Chad Morris has been analyzing investment firms for Brokerage-Review.com since 2015. Backed by FINRA Series 65, 66, and SIE credentials, his work reflects a deep knowledge of the retail brokerage industry and digital trading tools.
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