IRAs Offered: Traditional IRA, Roth IRA, Rollover IRA, SEP IRA, SIMPLE IRA, Individual 401k (for small business)
IRA Setup Fee: $0
IRA Annual Fee: $0
IRA Termination Fee: $0
IRA Fees and Minimums
All brokerage accounts at TD Ameritrade, including retirement accounts, have no annual fee, no inactivity fee, and no low-balance fee. The broker does not have a minimum opening deposit requirement for any account.
After an IRA is opened, the firm’s standard brokerage commission schedule is in effect. This includes a $6.95 charge for trading ETF's and stocks. Traders can
use a live broker to complete a trade over the phone.
The list of all TD Ameritrade fees and charges is located here.
TD Ameritrade's new customer promotion offer – Trade free for 60 days + get up to $600.
– allows investors to create
portfolio without paying any broker commissions.
Mutual Funds
The broker's commissions can be completely avoided by investing in NTF (no transaction fee) funds. TD Ameritrade offers almost 2,000 mutual funds with no load and no transaction fee.
These funds include several investment strategies that will appeal to retirement savers, such as investment-grade bonds and S&P 500 funds. The broker offers in total
more than 11,000 mutual funds. Mutual funds that carry a transaction fee are $49.99 to buy, sell, and exchange.
This top IRA company also offers more than 100 exchange-traded funds (ETF's) that have no commissions. Many of these have low expense ratios and 4 or 5 stars from
Morningstar. Some funds have investments tactics that retirement savers will be interested in, such as REIT funds and dividend-paying equity funds.
IRA Calculators
Investors at TD Ameritrade have access to some handy calculators. One helps investors figure if and when distributions from an IRA must be taken according to IRS regulations. The calculator specifies the minimum amount that must be withdrawn from the account, and when the withdrawal must occur.
Another calculator determines the advantages and disadvantages of a 401(k) rollover. It is helpful to evaluate the possibility of converting a 401(k) plan to an
IRA when starting a new job. The calculator displays numerically and graphically the results of rolling the balance over into a new 401(k), taking a lump sum
distribution, or transitioning to a Traditional IRA.
IRA Selection Wizard
Another tool leads investors step-by-step in deciding whether to choose a Roth or Traditional IRA. Users input data such as age, tax filing status, and annual income. The wizard then recommends a retirement product based on the inputs, along with contribution limits for the tax year, based on IRS guidelines.
Roth Conversion Analyzer
The broker also provides a useful tool for retirement savers who already have a Traditional IRA and are interested in converting it to a Roth. The tool asks for a few pieces of information, such as IRA account balance, annual income, and date of birth. The analyzer then returns important information regarding the possible conversion, including the cost of the switch.
IRA Videos
TD Ameritrade has an extensive library of investment videos, some of which cover retirement topics, including IRA's. One video takes the viewer step-by-step through the 401(k) conversion calculator. Another discusses the consequences of making withdrawals from retirement accounts.
Investment Advice from Amerivest
TD Ameritrade offers investment advice for a fee through its affiliate Amerivest. Clients can receive one-time financial advice from an investment professional. Also available is on-going portfolio management. This service includes no commissions on trades. It's a good option for retirees who would prefer to trust the management of their portfolios to investment professionals.
Summary
Investors saving for retirement have a lot of resources at TD Ameritrade. Add in 24/7 customer service, more than 100 local branches, and professional portfolio
management, and this broker is one of the best IRA companies for retirement planning in 2017.
Full Review
Read detailed TD Ameritrade review.
TD Ameritrade IRA Promotion
Open TD Ameritrade Account
|
|
IRAs Offered: Traditional IRA, Roth IRA, Rollover IRA, Simple IRA, SEP IRA, 401K Plans, Defined Benefit, Money Purchase, Keogh DVP
IRA Setup Fee: $0
IRA Annual Fee: $0
IRA Termination Fee: $0
IRA Fees and Minimums
IRA's with Scottrade have no setup fee, no inactivity fee, no account minimum, and no annual fee. For an IRA account, Scottrade has a $2,500 minimum initial
deposit requirement.
Once the IRA is established, Scottrade clients can buy and sell many different securities, including mutual funds, stocks, bonds, ETF’s, and CD's. Scottrade’s
regular commission schedule applies to retirement accounts. This includes a $7 charge for trading stocks and ETF's. Scottrade customers can also place a trade
over the phone with a live broker.
The list of all Scottrade fees and charges is located here.
Mutual Funds
Investors who don't want to pay the above commissions should check out Scottrade's selection of NTF mutual funds. The firm offers over 14,000 mutual funds.
Almost 2,600 of these have no load and no transaction fee. Mutual funds with loads are free to buy, although they cost $17 to sell. No-load funds with a transaction fee are $17 to buy, sell, and exchange.
IRA Selection Wizard
The broker has a useful tool that helps investors choose which IRA to open at Scottrade. The tool leads the user step-by-step through a series of questions. These include whether the retirement saver is self-employed or a small business owner. Other questions cover areas such as retirement plans with other employers and when the person wants to pay taxes on the IRA.
IRA Calculators
This top IRA account has two retirement calculators. The first is a retirement savings calculator. It helps investors determine how much they need
to save while working to avoid running out of money during retirement. This is an important tool as many retirees worry about this issue. The
calculator asks for various data, such as cost of living during retirement, current retirement account balances, tax bracket, age at retirement,
and life expectancy. The calculator then displays the probability of having enough money during retirement to cover the anticipated cost of living.
The second calculator is a tool that helps investors decide between a Roth or Traditional IRA. Required input data include age at retirement, adjusted gross income, any employer plans, and tax filing status. The calculator then displays what a Roth and Traditional account will look like after the appropriate taxes for each account have been deducted. This calculation allows users to see whether a Roth or Traditional would be better for their particular circumstances.
IRA Portfolio Management
Retirement savers at Scottrade have the option of using Scottrade Investment Management to professionally manage their retirement account. This service costs extra and includes one-on-one financial consulting and on-going investment management.
Summary
When it comes to pricing, Scottrade has the best IRA account among large, established brokerage houses. This top IRA firm is a natural choice for anyone
looking for a combination of a safe and solid financial institution and low costs. Investors who plan to trade mostly mutual funds or those who want professional
investment advice will do especially well here.
Full Review
Read detailed Scottrade review.
Scottrade IRA Promotion
Trade free for 60 days + get up to $600.
Open Scottrade Account
|
|
TD Ameritrade
| Investments | Commissions |
|---|
| Stocks and ETFs | $6.95 |
| Stocks and ETFs broker assisted | $44.99 |
| Options | $6.95 + $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. |
| Investments | stocks, mutual funds, options, ETFs, bonds, CDs, UITs, futures, and forex |
| TD Ameritrade minimum deposit to open account | $0 for cash account, $2,000 for margin account |
| Fees | TD Ameritrade fees |
| Promotion links | TD Ameritrade promotions
|
Scottrade
| Investments | Commissions |
|---|
| Stocks and ETFs | $6.95 |
| Stocks and ETFs broker assisted | $32 |
| Options | $6.95 + $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 |
| Investments | stocks, options, mutual funds, CDs, munis, U.S. Treasury, Canadian and foreign stocks, ETFs |
| Scottrade minimum deposit to open account | $2,500 |
| Fees | Scottrade fees |
| Promotion link | Scottrade promotions
|
|
|
Above is the list of our best IRA companies in 2017. All of them offer free Traditional IRA, ROTH IRA, SEP IRA and SIMPLE IRA accounts
for individuals. There are no annual, maintenance, custodial, or setup fees associated with these top IRA accounts.
The overall best brokerage company for IRA for do-it-yourself investors is TD Ameritrade. There are no IRA fees at the broker: individual retirement account setup,
inactivity, or maintenance fees. The firm offers low mutual funds commissions, over 2,000 mutual funds commission-free, investment research amenities,
and rich selection of investment products.
The best brokerage firm for IRA for beginners is Scottrade: the broker offers very good customer service, security of one of the largest
U.S. brokerage houses, and lots of free trading tools and services.
Another top rated company for IRA not mentioned above is Ally Invest. This is the cheapest
broker among our best IRA firms, so it's naturally very attractive option for the bargain-seeking customers. Ally Invest also offers a suit of valuable
services for free. Its online interface and trading tools, however, will appeal more to active and younger investors.
If you are only comfortable having a brokerage IRA account with large, well-known firm, then either TD Ameritrade or Scottrade
will work great for you.
You can open new tax exempt retirement account or set up to transfer your existing brokerage IRA or employer 401(K) account by clicking one of the links on this website and
following instructions. Make sure to read these brokerage's IRA account reviews before making final decision.
All best companies for IRA mentioned here are members of FINRA - they have to comply to strict government rules.
They are also SIPC insured - broker-dealer equivalent of banks FDIC insurance. It covers up to $500,000 per
customer, including up to $250,000 in cash.
Updated on 7/25/2017.
|
|
|