Choosing a Roth IRA Account Provider
Most financial service providers can assist you in opening a Roth IRA account. Contrary to popular belief, a Roth IRA is nothing more than a way to tax holdings--not an investment product in and of itself. Online discount brokers tend to charge the lowest fees on trades and ongoing account maitinence.
Why Go Discount?
If you are confident in your ability to choose which assets to invest your earnings in, it is wise to go with a discount brokerage. As stated above, these brokers charge the lowest fees and allow the most flexibility in terms of investment choices. Learn more about a few of the more well known Roth IRA account providers below.
Scottrade
Scottrade is the most well known discount internet broker and continuously maintains extremely high customer satisfaction numbers. While not the bottom line "cheapest" provider on our list, Scottrade provides the highest quality mix of low prices, free investing research tools, and a track record of reliability.
- $7 stock trades
- Robust free tools
- Highly trusted online broker
Click Here to Open an Account with Scottrade
Merrill Edge®
Merrill Edge self-directed investing can help you manage your finances with confidence, value and convenience. Merril Edge has the accounts, products and features to help you invest including the right IRAs to help you achieve your retirement goals.
- $0 online equity and ETF trades
- BofAMerrill Lynch Global Research
- Dynamic investing and banking capabilities
Click Here to Open an Account with Merrill Edge
E*TRADE FINANCIAL
E*TRADE FINANCIAL is one of the most trusted online brokers on the web. E*TRADE is known to have top notch customer service, low fees, and robust research tools. Unlike some discount brokers, E*TRADE makes phone support readily available so they are a great choice for the novice investor that needs assistance after creating an account. Here's why E*TRADE might make sense for you:
- Trade Free for 60 Days and Get up to $600
- $7.99 - $9.99 per stock & option trade
- Free Trading Education
Click Here to Open an Account with E*TRADE FINANCIAL
Zecco
Zecco has remained one of the most popular brokerages on the 'net for quite a few years. Low trading commissions paired with a high quality platform and great customer service tends to keep customers around for quite a while. Why consider opening a Roth IRA with Zecco?
- $0 stock trades
- $0 maintinence fees
- No minimum account to open
Click Here to Open an Account with Zecco
TradeKing
TradeKing was ranked #1 in customer service by SmartMoney Magazine. Trades cost a bit more but if you place a premium on ease of use, TradeKing might make the most sense despite slightly higher fees. Why consider opening a Roth IRA with TradeKing?
- Highest customer service ranking by SmartMoney Magazine
- Low, simple per trade pricing
- Industry leading research tools
Click Here to Open an Account with TradeKing
The Bottom Line
Don't spend months scrutinizing every detail about a provider when you could just as well be contributing the whole time! Maxing out your Roth IRA account with any provider is going to take you much further in the long run than saving a few bucks a trade here or there.
