Best Places to Open an IRA in 2025

An individual retirement account (IRA) is a tax-advantaged retirement account that helps people to save for later in life. Traditional IRAs mimic the structure of a 401(k): You contribute pre-tax earnings into the account and only pay taxes on what is withdrawn during your retirement. Contributions to Roth IRAs, in contrast, are made with after-tax earnings but are not taxed when money is withdrawn. However you choose to structure your retirement account, an IRA is often a good option.

Consider working with a financial advisor as you create or adjust your IRAs to make sure you’re optimizing the amount you’re investing.

Data and Methodology

We identified the options below through exhaustive research and analysis of the of the IRA market. They are listed in an order that’s in direct correlation with their individual composite score based on our methodology, which includes consumer ratings from multiple popular online app stores, the minimum required investment, and any required fees.

1. Fidelity

Fidelity is one of the most recognizable names in retirement investing, and for good reason. The firm offers traditional, Roth, rollover and even SEP IRAs, giving investors flexibility regardless of their retirement planning needs. This breadth of options makes it appealing whether you’re just getting started or looking to consolidate accounts from past employers.

One of Fidelity’s biggest draws is its low-cost structure. The company provides commission-free trading on U.S. stocks, ETFs and options, along with thousands of no-transaction-fee mutual funds. For long-term investors, these savings can add up significantly over the course of decades. Fidelity is also known for its zero-expense-ratio index funds, which are ideal for cost-sensitive retirement savers.

While Fidelity empowers self-directed investors, it also offers professional support for those who prefer guidance. You can work with a Fidelity financial advisor to create a personalized strategy tailored to your goals, risk tolerance and time horizon. This combination of digital tools and human advice provides flexibility for both independent investors and those seeking expert input.

2. E*TRADE

For investors who want to build and manage their IRA independently, the best option is E*TRADE.

E*TRADE is, for all intents and purposes, the original consumer-facing trading platform. It burst onto the scene more than 20 years ago and still offers one of the best investment experiences online. This platform offers you some of the most sophisticated tools and one of the widest range of assets you’re likely to find anywhere.

Making it even more enticing, E*TRADE has joined the race to the bottom in fees and now offers no-commission trading on many assets, such as stocks and options contracts. And if you would like to learn more about how to manage your portfolio as you go, there is a full suite of educational products. All in all, if you’re looking for a hands-on IRA, E*TRADE is among the best places to start.

3. J.P. Morgan

Opening an IRA with J.P. Morgan Wealth Management gives you flexible options to suit your investment style. You can manage the account independently, collaborate with their team of fiduciary advisors or opt for personalized one-on-one guidance from a dedicated advisor who can oversee your IRA on your behalf.

J.P. Morgan Wealth Management provides commission-free trading and a diverse array of investment choices, including stocks, bonds, ETFs, mutual funds and options. Additionally, the firm rewards new IRA funding or rollovers with cash bonuses. These bonuses range from $50, for deposits between $5,000 and $24,999, to $700, for contributions of $250,000 or more.

4. Interactive Brokers

Interactive Brokers (IBKR) stands out for its unmatched global reach, giving IRA investors access to more than 150 markets across the world. This breadth allows retirement savers to diversify far beyond U.S. stocks and bonds, with opportunities in international equities, currencies and fixed-income products. For investors who want exposure to a wide range of asset classes, IBKR is the best platform available.

Known for its competitive fee structure, Interactive Brokers offers commission-free trading on U.S. stocks and ETFs through its IBKR Lite platform. Even with IBKR Pro, which caters to more active traders, commissions remain low compared to industry standards. For IRA holders, these savings can enhance long-term returns, particularly for those who trade regularly or want to maximize efficiency in their portfolios.

IBKR supports both traditional and Roth IRAs, as well as rollover accounts for investors consolidating retirement savings. While its focus is often on active and professional traders, the platform’s flexibility also benefits long-term investors who want control over their investment choices. This makes it an option worth considering for retirement savers who prefer a more self-directed approach.

5. SoFi

SoFi has built its reputation on making personal finance approachable, and that extends to its IRA offerings. Investors can choose from traditional, Roth or SEP IRAs, with a simple account opening process that appeals to those new to retirement planning. The platform’s clean interface and app-based design make it easy to track contributions and monitor performance.

For hands-off investors, SoFi offers automated portfolios. These portfolios are built using low-cost ETFs and automatically rebalanced to stay aligned with your goals. By removing layers of fees, SoFi allows retirement savers to keep more of their investment growth over time.

One of SoFi’s unique draws is the set of perks that come with membership. Investors may gain access to career coaching, financial literacy resources and even discounts on other SoFi products like loans. These extras can make SoFi especially appealing for younger professionals looking to integrate retirement saving into a broader financial plan.

6. Robinhood

Opening an IRA can be an important part of your retirement planning.

Robinhood, best known for pioneering commission-free trading, now extends that simplicity to retirement savers. The platform offers both traditional and Roth IRAs with the same easy-to-use interface that made it popular among younger investors. Its mobile-first design allows you to open and manage an account in minutes, making retirement investing more accessible to those who prefer simplicity.

One of Robinhood’s most distinctive features is its IRA match. The company contributes 1% to 3% on every eligible IRA contribution you make, depending on your subscription tier. This effectively boosts your retirement savings beyond standard tax advantages and can provide meaningful long-term benefits for consistent savers.

Robinhood IRAs come with access to a wide selection of commission-free U.S. stocks, ETFs and options. While it doesn’t offer the same depth of mutual funds, bonds or international investments that larger brokerages do, its lineup covers the basics most retirement investors seek. For those focused on building a straightforward portfolio, the offerings are sufficient.

7. Vanguard

Vanguard can be an outstanding choice for investors who want to emphasize low-cost mutual funds. The firm is generally recognized as the leader in mutual funds and related investment products, and they haven’t rested on their laurels. Vanguard offers one of the largest, most comprehensive lists of no-fee funds of any brokerage on the market, advertising several thousand no-fee products, and they generally perform quite well relative to the market at large. Investors who want to build an IRA that emphasizes mutual funds should consider Vanguard.

That said, investors should take note that Vanguard can have a relatively high entrance fee. Many of its products require investments of between $1,000 and $3,000 to buy in. While this may not be a problem for someone moving money around within their IRA, it isn’t necessarily the best choice for someone looking to set up an initial account.

8. Merrill Edge

Merrill Edge, part of Bank of America, is a strong IRA option for investors who want banking and investing under one roof. By linking your IRA with your Bank of America accounts, you can manage everyday finances and long-term savings in one place. This integration also makes you eligible for the Preferred Rewards program, which offers perks like reduced fees and credit card rewards boosts.

With Merrill Edge, IRA holders gain access to a wide range of investments, including stocks, ETFs, mutual funds and bonds. The platform is also well-regarded for its research capabilities, offering in-depth analysis from Bank of America Global Research along with independent third-party reports. For retirement savers who want to make informed decisions, this research support is a valuable resource.

Merrill Edge caters to both self-directed investors and those who want professional advice. You can manage your IRA independently through Merrill Edge’s online platform, or opt for Merrill Guided Investing, which provides a robo-advisor experience with portfolios managed by professionals. For a more personalized approach, Merrill advisors can also work with you one-on-one to build a retirement strategy.

9. Betterment

Betterment is one of the original robo-advisors and continues to be a leader in automated retirement investing. IRA options include traditional, Roth and SEP accounts, with professionally designed portfolios that automatically rebalance to stay aligned with your goals. For those who prefer a set-it-and-forget-it approach, Betterment’s automation makes long-term retirement planning straightforward.

Betterment charges a transparent annual management fee of 0.25% for its Digital plan, with the option to upgrade to Premium for 0.40% to gain unlimited access to certified financial planners. Portfolios are built with a wide range of low-cost ETFs spanning U.S. and international stocks, bonds and other asset classes, giving IRA holders broad diversification without extra complexity.

Betterment also integrates features like tax-loss harvesting, cash management accounts and automated dividend reinvestment. These benefits work behind the scenes to improve efficiency and keep retirement savings growing steadily. For investors who value optimization and convenience, these add-ons are especially appealing.

10. Wealthfront

Wealthfront has built its reputation as one of the best robo-advisors, making it a strong choice for IRA investors who prefer a hands-off approach. The platform offers traditional, Roth and SEP IRAs, along with rollover options, all managed through automated, low-cost portfolios. With features like automatic rebalancing and tax-loss harvesting, Wealthfront aims to maximize long-term efficiency for retirement savers.

Wealthfront charges a flat 0.25% annual advisory fee, which is competitive compared to traditional advisors. Portfolios are constructed using a diverse mix of low-cost ETFs that span U.S. and international stocks, bonds, real estate and natural resources. This broad diversification helps retirement savers reduce risk while still capturing growth opportunities over time.

What sets Wealthfront apart is its robust financial planning technology. The platform offers tools that allow you to forecast your retirement readiness, simulate different saving strategies and track progress toward long-term goals. These digital planning features provide the kind of visibility many investors would otherwise only get from working with a financial advisor.

Bottom Line

A couple compare the best places to open an IRA.

If you’re looking for a fund-based IRA, Vanguard is among the most well-respected and likely your best bet. Those who’d like to a DIY approach should check out E*TRADE, while those who want more help may want to consider Merrill Lynch or J.P. Morgan Wealth Management. Robo-advising is another popular option worth looking into, depending on your preferences as an investor, and Betterment is one of the best among them.

Retirement Planning Tips

Whichever company you choose to deal with, there’s no substitute for smart, customized financial advice. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
A quick, and free, way to see if you’ve got enough to retire is by using SmartAsset’s free retirement calculator.