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Roll Your 401(k) Over to an IRA: The Best Providers

NerdWalletApril 23, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Our picks for

Hands-On Investors

With these providers, investors build a portfolio of individual investments of their own choosing.

Ally Invest IRA

on Ally Invest's website

on Ally Invest's website

Fees

$4.95

per trade

Account Minimum

$0

Promotion

Up to $3,500

in cash bonus with a qualifying deposit

Pros

  • Low commissions.
  • No account minimum.
  • No IRA annual fee.
  • Strong web-based platform.
  • Robust research and tools.

Cons

  • IRA closure fee of $50.
  • IRA transfer out fee of $50.
Merrill Edge IRA

on Merrill Edge's website

on Merrill Edge's website

Fees

$6.95

per trade

Account Minimum

$0

Promotion

Up to $600

in cash bonus with a qualifying deposit to a new Merrill Edge Self-Directed account

Pros

  • Robust third-party research.
  • Ongoing promotions for opening and funding a qualified IRA account.

Cons

  • No commission-free ETFs for IRA investors.
  • Minimum balance requirement for high-end platform.
TD Ameritrade IRA

on TD Ameritrade's website

on TD Ameritrade's website

Fees

$6.95

per trade

Account Minimum

$0

Promotion

$100-$600

in cash bonus with a qualifying deposit

Pros

  • $0 account minimum.
  • Large lineup of no-transaction-fee mutual funds.
  • Good customer support.

Cons

  • Higher trade commissions.
Etrade IRA

on Etrade's website

on Etrade's website

Fees

$6.95

per trade

Account Minimum

$0

Promotion

Up to $600

in cash bonus with a qualifying deposit

Pros

  • No minimum balance for IRAs
  • Extensive research and tools
  • 156 commission-free ETFs
  • 4,400+ no-transaction-fee (NTF) mutual funds

Cons

  • $19.99 cost for trading non-NTF mutual funds
  • Higher trading fees for low-volume ETF and stock traders
Interactive Brokers

on Interactive Brokers's website

on Interactive Brokers's website

Fees

$0.01

per share

Account Minimum

$0

Promotion

None

No promotion available at this time

Pros

  • Low commissions.
  • Quality trading platform.
  • Advanced tools.
  • Low margin rates.
  • Wide investment selection.

Cons

  • Inactivity fees.
  • Complex pricing.
  • Minimal educational resources.
Fees

$7.00

per trade

Account Minimum

$0

Promotion

None

no promotion available at this time

Pros

  • Large mutual fund selection.
  • Over 50 commission-free ETFs.
  • Leader in low-cost funds.
  • Helpful customer support.

Cons

  • High trade commissions.
  • No trading platform or tools.
  • Limited research and data.
Fees

$4.95

per trade

Account Minimum

$1,000

Promotion

Up to $100

bonus award

Pros

  • Minimum waived with $100 monthly deposit.
  • No inactivity fees.
  • Above-average mobile app.

Cons

  • Higher account minimum.
  • Higher trade commissions.
Fees

$4.95

per trade

Account Minimum

$0

Promotion

500

free trades with a qualifying deposit

Pros

  • Low trade commissions.
  • Free research and data.
  • Strong customer support.
  • Low fees.
  • Quality trading platform.

Cons

  • Trade minimum for active trader platform.
Fees

$19.95

per trade

Account Minimum

$2,500

Promotion

None

no promotion available at this time

Pros

  • Low-fee mutual funds.
  • Fund screening tools.
  • Free retirement investing tools.

Cons

  • Pricey commissions.
  • High account minimums.

Our picks for

Hands-Off Investors

These providers will assemble and manage a custom IRA portfolio for you, all for a modest price.

Wealthfront IRA

on Wealthfront's website

on Wealthfront's website

Fees

0.25%

management fee

Account Minimum

$500

Promotion

$5,000

amount of assets managed for free

Pros

  • Low-cost, hassle-free approach to IRA investing.
  • First $5,000 managed free (for NerdWallet readers).
  • Automatic rebalancing.
  • Free automated tax-loss harvesting.

Cons

  • No large-balance discounts.
  • No access to human advisors.
Betterment IRA

on Betterment's website

on Betterment's website

Fees

0.25%

management fee

Account Minimum

$0

Promotion

Up to 1 year

of free management with a qualifying deposit

Pros

  • No account minimum.
  • Extensive tax strategies.
  • Robust goal-based tools.
  • Free automated tax-loss harvesting.

Cons

  • Limited investment options.
Sofi Automated Investing

on Sofi Wealth's website

on Sofi Wealth's website

Fees

0%

management fee

Account Minimum

$100

Promotion

Free

career counseling plus loan discounts with qualifying deposit

Pros

  • Broad range of low-cost investments.
  • Very low management fees.
  • Automatic rebalancing.
  • Customer support.
  • Access to certified financial planners.

Cons

  • No tax-loss harvesting.
  • Limited account types.
  • Short track record.

Summary of Roll Your 401(k) Over to an IRA: The Best Providers

BrokerCommissionsPromotionAccount MinimumLearn More
Ally Invest IRA Logo

Ally Invest IRA

on Ally Invest's website

$4.95

per trade

Up to $3,500

in cash bonus with a qualifying deposit

$0

on Ally Invest's website

Merrill Edge IRA Logo

Merrill Edge IRA

on Merrill Edge's website

$6.95

per trade

Up to $600

in cash bonus with a qualifying deposit to a new Merrill Edge Self-Directed account

$0

on Merrill Edge's website

TD Ameritrade IRA Logo

TD Ameritrade IRA

on TD Ameritrade's website

$6.95

per trade

$100-$600

in cash bonus with a qualifying deposit

$0

on TD Ameritrade's website

Etrade IRA Logo

Etrade IRA

on Etrade's website

$6.95

per trade

Up to $600

in cash bonus with a qualifying deposit

$0

on Etrade's website

Interactive Brokers Logo

Interactive Brokers

on Interactive Brokers's website

$0.01

per share

None

No promotion available at this time

$0

on Interactive Brokers's website

Vanguard Brokerage Logo

Vanguard Brokerage

$7.00

per trade

None

no promotion available at this time

$0

Read Review
Schwab Brokerage IRA Logo

Schwab Brokerage IRA

$4.95

per trade

Up to $100

bonus award

$1,000

Read Review
Fidelity IRA Logo

Fidelity IRA

$4.95

per trade

500

free trades with a qualifying deposit

$0

Read Review
T. Rowe Price Logo

T. Rowe Price

$19.95

per trade

None

no promotion available at this time

$2,500

Read Review
Wealthfront IRA Logo

Wealthfront IRA

on Wealthfront's website

0.25%

management fee

$5,000

amount of assets managed for free

$500

on Wealthfront's website

Betterment IRA Logo

Betterment IRA

on Betterment's website

0.25%

management fee

Up to 1 year

of free management with a qualifying deposit

$0

on Betterment's website

Sofi Automated Investing Logo

Sofi Automated Investing

on Sofi Wealth's website

0%

management fee

Free

career counseling plus loan discounts with qualifying deposit

$100

on Sofi Wealth's website

BrokerCommissionsPromotionAccount MinimumLearn More
Ally Invest IRA Logo

Ally Invest IRA

on Ally Invest's website

$4.95

per trade

Up to $3,500

in cash bonus with a qualifying deposit

$0

on Ally Invest's website

Merrill Edge IRA Logo

Merrill Edge IRA

on Merrill Edge's website

$6.95

per trade

Up to $600

in cash bonus with a qualifying deposit to a new Merrill Edge Self-Directed account

$0

on Merrill Edge's website

TD Ameritrade IRA Logo

TD Ameritrade IRA

on TD Ameritrade's website

$6.95

per trade

$100-$600

in cash bonus with a qualifying deposit

$0

on TD Ameritrade's website

Etrade IRA Logo

Etrade IRA

on Etrade's website

$6.95

per trade

Up to $600

in cash bonus with a qualifying deposit

$0

on Etrade's website

Interactive Brokers Logo

Interactive Brokers

on Interactive Brokers's website

$0.01

per share

None

No promotion available at this time

$0

on Interactive Brokers's website

Vanguard Brokerage Logo

Vanguard Brokerage

$7.00

per trade

None

no promotion available at this time

$0

Read Review
Schwab Brokerage IRA Logo

Schwab Brokerage IRA

$4.95

per trade

Up to $100

bonus award

$1,000

Read Review
Fidelity IRA Logo

Fidelity IRA

$4.95

per trade

500

free trades with a qualifying deposit

$0

Read Review
T. Rowe Price Logo

T. Rowe Price

$19.95

per trade

None

no promotion available at this time

$2,500

Read Review
Wealthfront IRA Logo

Wealthfront IRA

on Wealthfront's website

0.25%

management fee

$5,000

amount of assets managed for free

$500

on Wealthfront's website

Betterment IRA Logo

Betterment IRA

on Betterment's website

0.25%

management fee

Up to 1 year

of free management with a qualifying deposit

$0

on Betterment's website

Sofi Automated Investing Logo

Sofi Automated Investing

on Sofi Wealth's website

0%

management fee

Free

career counseling plus loan discounts with qualifying deposit

$100

on Sofi Wealth's website

Last updated on April 23, 2019

Methodology

NerdWallet's ratings for brokers and robo-advisors are weighted averages of several categories, including investment selection, customer support, account fees, account minimum, trading costs and more. Our survey of brokers and robo-advisors includes the largest U.S. providers by assets under management, plus notable and/or emerging players in the industry. Factors we consider, depending on the category, include advisory fees, branch access, user-facing technology, customer service and mobile features. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.

To recap our selections...

NerdWallet's Roll Your 401(k) Over to an IRA: The Best Providers