Best IRA Accounts For Beginners

Best companies to open a ROTH, Rollover and Traditional IRAs for starters. Top online brokerage firms for new investors to open a retirement account in 2017.

TD Ameritrade

4.5-star brokerage firm rating
  • IRA setup fee: $0
  • Annual IRA fee: $0
  • IRA termination fee: $0

  • Stocks & ETFs: $6.95
  • Options: $6.95 + $0.75 per contract
  • Mutual Funds: $49.99

IRAs offered: Traditional IRA, Individual 401k, ROTH IRA, SIMPLE IRA, SEP IRA, Rollover IRA.

Minimum to open: $0 for a cash account, $2,000 for an IRA.

Investments: Stocks, Options, ETFs, Bonds, CDs, Mutual Funds, Futures, Forex.

You can consider opening an IRA account at TD Ameritrade if you have at least $2,000 in savings, which is the broker's minimum investment requirement. Although TD Ameritrade has higher trading commissions and initial deposit for a retirement account, the brokerage is worth looking at. High pricing comes with exceptional services and features.

TD Ameritrade is a trusted brokerage company with a long history, so there should not be any worries when it comes to the safety of your hard-earned money. The brokerage offers exceptional services and does everything to help its clients understand and take full control of their investments. Like Scottrade, TD Ameritrade has local branches throughout the country, where personalized guidance for retirement savings is available.

A great research is one of the best among online brokers. The firm's educational resources, powerful trading tools and sophisticated platform are its big advantages. Also, the website has a pleasant and clean design. It is very easy to understand and navigate even for those people who open their first brokerage or IRA account.

TD Ameritrade offers three trading platforms. Its website-based trading platform is user friendly and intuitive. This is an ideal way for beginners to invest and practice trading. When your skills and knowledge about retirement savings and investing will grow, you don't need to switch to another brokerage firm to use advanced trading tools. The other two TD Ameritrade's platforms are great for advanced traders and considered the best in the industry. Moreover, unlike other brokerages, the company does not charge fees for using its platforms.

Well, pricing is high, yet as a beginner investor you will not only truly appreciate ease of use, availability and quality of service but will also enjoy the learning and investing process if you choose TD Ameritrade as your first IRA provider.

Advantages of The Best IRA Account For Beginners

  • No-fees and no minimums to open an IRA;
  • Well-established, trusted brokerage firm;
  • Over 100 commission-free ETFs;
  • Great research, great service, powerful tools, ease of use.

Open an account: Join TD Ameritrade. Trade free for 60 days + Get up to $600.

TD Ameritrade Review


Scottrade brokerage firm rating
  • IRA setup fee: $0
  • Annual IRA fee: $0
  • IRA termination fee: $0

  • Stocks & ETFs: $6.95
  • Options: $6.95 + $0.70 per contract
  • Mutual Funds: $17

IRAs offered: Traditional IRA, 401K Plans, ROTH IRA, Simple IRA, SEP IRA, Money Purchase, Keogh DVP, Rollover IRA, Defined Benefit.

Investments: Stocks, ETFs, Options, Mutual Funds, Bonds, CDs, Treasuries, OTS Stocks.

Minimum to open: $2,500 for a cash account, $0 for an IRA.

Scottrade offers a great variety of different types of IRAs such as ROTH, Rollover, Traditional, 401K, SIMPLE and other less popular accounts. If you are just starting out and have very little savings, then Scottrade's IRAs, which have no minimum deposit requirements and no opening and maintenance fees, are the best options.

As a beginner investor, you do not have to worry about the safety and legitimacy of the company. Scottrade is one of the largest and well-established brokerage firms that are known for their top-notch customer support and good services. The brokerage firm has the largest network of local branches among online discount brokers. At its offices, you can get one-on-one help and advice. Also, you can attend its live educational seminars.

When it comes to trading fees, Scottrade is a well-priced firm with flat trading commissions. Its brokerage fees are the lowest among those offered by the largest brokerage firms in the U.S., and they are the average across the industry. Trading stocks and ETFs will cost investors $7. Price for mutual funds is $17, which is considered a low cost compared with what some brokers charge today (for example, Charles Schwab charges $76). In addition, Scottrade offers superior selection of mutual funds, including 2,637 commission-free NTF funds.

Those who are new to retirement savings and want to learn more about retirement savings and trading can take advantage of Scottrade's retirement savings calculator, extensive educational materials, easy-to-understand tutorials and videos.

The user-friendly, clean-designed and easy-to-use website-based platform will serve retirement account holders best. However, if you are more active and sophisticated investors and execute 9 trades in the previous three months, or you have a minimum of $25,000 in your account, Scottrade will give you free access to its advanced trading platform.

With its easy-to-use website, wide variety of no-cost IRAs, no set up and maintenance fees, flat fee pricing, no minimums to open an IRA, Scottrade is a good way for a new investor to start a retirement savings account.

Advantages Of The Best IRA Account For Beginners

  • No-fees to open an IRA;
  • Well-established, legitimate brokerage;
  • 2,637 commission-free NTF funds;
  • Well-priced firm with a flat fee commission structure.

Open an account: Open Scottrade account today.

Scottrade Review