Have you ever asked yourself what does IRA stand for? And why do I need one? Individual Retirement Account known as IRA for short, is a savings account that has a lot of confinements and guidelines. It’s the most ideal approach to invest your money to get upfront tax reductions or pay no taxes on your profits when you take your money sometime in life.
The best IRA accounts offer awesome investment choices which are of low charges. Now is the right time to contribute to your IRA account since we are in tax season.
For IRA contributions we recommend E*Trade, TradeKing, TD Ameritrade, Scottrade as the 4 best Roth IRA account providers.
What Makes These the Best Roth IRA Providers?
These brokers offer diverse of resources beyond acting as a vehicle to build up an IRA account. Three of the four companies have office areas where you can go in and converse with a live individual. TradeKing, the one that doesn’t, has less expensive trading and charges costs than the others.
Listed are some of the features of these four top companies
- Introductory deals on rollovers or new accounts
- Access to a variety of investment products
- Access to quality supports and research.
- Several types of IRA accounts
E*TRADE standout amongst the most trusted online brokers on the web, with more than 25 years of serving retirement needs of investors. E*TRADE offers retirement guidance and advice from Chartered Retirement Planning Counselors, who can offer you some assistance with creating a plan, and remain focused. E*TRADE additionally offers great online tools like the Online Portfolio Advisor and Retirement Planning Calculator for investors who might like to construct their retirement plan themselves. Here are some reasons why E*TRADE may bode well for you:
- No account minimum
- Wide range of investment choices
- Access to extensive research and professional guidance
- Deposit $10k or more and trade free for 60 days
- Ranked as the #1 broker by Kiplinger’s in 2012
No matter the amount you transfer or deposit, When you open an account with E*Trade you can earn up to $600. You can also invest in 1300 plus with no transaction charge and in over 8,000 “mutual funds”. In a few areas, there are E*Trade branches though there are just 28 areas across the country and Trading commissions can be two times of other brokers.
An E*Trade IRA is Best For:
- Low-frequency traders
- Those who want a variety of investments in their IRA
- Long-term mutual fund investors
TradeKing is a broker online that keeps on enhancing after its merging in 2013 with zecco. Both TradeKing and Zecco were positioned among the top 20 brokers, making it certain that the working together of the two will improve things for the new TradeKing in 2016. TradeKing is known for giving awesome quality, shown by their low trading charge of $4.95 options trade or per stock
When an IRA account is opened with TradeKing, you will be able to access all their trading tools, which stand out among all other best Roth IRA accounts and Traditional IRA in terms of trading options. Even if you make few trades every year, their saving adds up but does not have the account resources that a full-service broker should have.
A TraeKing IRA is Best For:
- Deal seekers
- Higher-frequency traders
- Self-directed investors
The reasons why you should open an IRA Account With TradeKing:
- Rated as number 1 by SmartMoney in customer service from year 2010-2012
- Rated among the best options brokers by Barron’s
- No account minimum
- $4.95 per trade and only $0.65 per options contract
- Trader network gives you the opportunity to know how others utilize their money
TD Ameritrade is positioned as one of the best online brokers for a long term investment and trading, It allow you access any of their resources such as banking services, trading platforms and advanced trading when you become a customer.
When you rollover your old 401k, you have the chance to get up to $600. TD Ameritrade also has Chartered Retirement Planning Counselors available to guide you during your rollover so everything is secured. Moreover, you will have access to tools like WealthRuler, an IRA Selection Wizard, and a 401k Rollover Calculator which will assist in planning your goals. Although it has higher trading fees and costs at $9.99 optional trade or per stock.
A TD Ameritrade IRA is Best For:
- Low-frequency traders or less active investors
- Various levels of experience
- People who want to rollover a 401k
- Beginners who don’t understand IRAs
The reasons why you should open an IRA Account With TD Ameritrade:
- Has no minimum account
- You can access to 100+ no-fee ETF
- Rated as the best broker by Kiplinger’s in 2012
Scottrade is one of the best roth ira providers which persistently keeps up with the satisfaction of their customer. Scottrade offers free investment research tools, a reliable track record and he high quality blend of low cost.
Scottrade is known in this industry for their predominant customer service and support. They deal with their customers, in respective of the amount of money you have in your account. Likewisely, scottrade offers a number of the same account investment products and features among the top brokers. Even though their payments are somewhat less expensive at $7 per trade, their Trading tools are marginally behind the curve.
A Scottrade IRA is Best For:
- New investors
- Anybody who want a lower commission and need a full service broker
The reasons why you should open an IRA Account With Scottrade:
- Over 3,100 mutual funds with no transaction fee
- $0 to open a retirement account
- Rated as the highest customer satisfaction by J.D. Powers and Associates
- Decent commission prices on trades
- Over 500 branches nationwide
The Bottom Line
Try not to invest months examining everything about a provider when you could pretty much also be contributing the entire time maxing your Roth IRA account with any provider. Choose the best roth ira providers considering all the providers listed above.