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16 Best Roth IRA Accounts of June 2023

A Roth IRA account offers retirement investors significant tax advantages. Check out our picks for the best Roth IRA accounts below.

Alana Benson
By Alana Benson 
Edited by Arielle O'Shea

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.


The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

Why you can trust NerdWallet's picks: Our writers and editors together have more than 50 years of experience writing about finance, and follow strict guidelines to maintain editorial integrity. We do a deep, independent analysis of dozens of investment firms, sorting through the details to find and evaluate the information investors want when choosing an investing account. To see our full methodology and learn more about our process, read our criteria for evaluating brokers and for evaluating robo-advisors.

A Roth IRA is one of the best places to invest for retirement — you put money in after paying income taxes on it, but then your account grows entirely tax-free. In retirement, you don’t have to pay any tax on withdrawals, provided you follow the rules, which can mean more financial freedom for you. And it’s easy to get going: It takes just 15 minutes to open an account.

But what's the best place to open a Roth IRA? We’re here to help you decide. Every year, we evaluate major U.S. online brokers and robo-advisors to select the best Roth IRA accounts. Our current picks for both brokers and robo-advisors are below.

What's the difference? The brokers we've chosen as the best choices for hands-on investors will allow you to choose your own investments once you open your Roth IRA. The robo-advisors we've picked for hands-off investors will build and manage a portfolio for you, so you don't need to do the work of picking and choosing your own investments.

Note: The star ratings on this page are for the provider overall. Some providers with a lower overall rating are included here because Roth IRAs are where they excel.

🤓Nerdy Tip

Investment fees and commissions quickly reduce your return. One of the factors Nerds look at when reviewing investment accounts is costs, including stock trading commissions, platform or inactivity fees and options contract charges.

Best Roth IRA Accounts

Our pick for

Hands-On Investors

For people who want to pick their own IRA investments, opening a Roth IRA at an online broker can be the right choice. All the online brokers on our list here offer a large list of low-cost investments to choose from, including index mutual funds and exchange-traded funds. Here are the best Roth IRAs from our analysis of accounts:

NerdWallet rating 

5.0

/5
Fidelity IRA
Learn more

on Fidelity's website

Fees

$0

no account fees to open a Fidelity retail IRA

Account minimum

$0

Promotion

Get $100

when you open a new Fidelity retail IRA with $50. A 200% match. Use code FIDELITY100. Limited time offer. Terms apply.

NerdWallet rating 

5.0

/5
E*TRADE IRA
Learn more

on E*TRADE's website

Fees

$0

Account minimum

$0

Promotion

None

no promotion available at this time

NerdWallet rating 

5.0

/5
Interactive Brokers IBKR Lite
Learn more

on Interactive Brokers' website

Fees

$0

per trade

Account minimum

$0

Promotion

None

no promotion available at this time

NerdWallet rating 

5.0

/5
TD Ameritrade IRA
Learn more

on TD Ameritrade's website

Fees

$0

per trade

Account minimum

$0

Promotion

None

no promotion available at this time

NerdWallet rating 

4.7

/5
J.P. Morgan Self-Directed Investing
Learn more

on J.P. Morgan's website

Fees

$0

per trade

Account minimum

$0

Promotion

Get up to $700

when you open and fund a J.P. Morgan Self-Directed Investing account with qualifying new money

Our pick for

Hands-Off Investors

Investors who prefer to be hands-off can outsource the management of their IRA investments to a robo-advisor or online financial advisor. Opening a Roth IRA at one of these firms means you don't have to manage your portfolio yourself. These are the best managed Roth IRA accounts in our analysis:

NerdWallet rating 

4.9

/5

Reviewed in: Oct. 2022

Period considered: Aug. - Oct. 2022

SoFi Automated Investing
Learn more

on SoFi Invest's website

AD

Paid non-client promotion

Fees

0%

management fee

Account minimum

$0

Promotion

Free

career counseling plus loan discounts with qualifying deposit

NerdWallet rating 

4.6

/5

Reviewed in: Dec. 2022

Period considered: Aug. - Dec. 2022

Fidelity Go®
Learn more

on Fidelity's website

AD

Paid non-advisory client promotion

Fees

0% - 0.35%

management fee

Account minimum

$0

Promotion

None

no promotion available at this time

NerdWallet rating 

5.0

/5

Reviewed in: Oct. 2022

Period considered: Aug. - Oct. 2022

Wealthfront IRA
Learn more

on Wealthfront's website

AD

Paid non-client promotion

Fees

0.25%

management fee

Account minimum

$500

Promotion

Get $50 customer bonus

when you fund your first taxable Investment Account

NerdWallet rating 

5.0

/5

Reviewed in: Oct. 2022

Period considered: Aug. - Oct. 2022

Betterment IRA
Learn more

on Betterment's website

AD

Paid non-client promotion

Fees

0.25%

with a balance over $20K or qualifying recurring deposit. Otherwise, $4/month.

Account minimum

$0

$10 to start

Promotion

None

no promotion available at this time

NerdWallet rating 

4.8

/5

Reviewed in: May 2023

Period considered: Aug. 2022 - May 2023

Ellevest
Learn more

on Ellevest's website

AD

Paid non-client promotion

Fees

$12

per month

Account minimum

$0

Promotion

2 months free

with promo code "nerdwallet"

Want to compare more options? Here are our other top picks:

Note: Some of these promotions won’t apply for first-time depositors, due to IRA contribution limits of $6,500 in 2023. We’ve included promotions with low deposit requirements where available.

Last updated on May 1, 2023

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SoFi Checking and Savings

5.0

NerdWallet rating 
SoFi Checking and Savings

APY

4.20%

With $0 min. balance for APY

Bonus

$250

Earn up to $250 with direct deposit. Terms apply.

at SoFi, Member FDIC

Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

3.90%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

at Discover Bank, Member FDIC

UFB Premier Savings

4.5

NerdWallet rating 
UFB Premier Savings

APY

4.81%

With $0 min. balance for APY

at UFB Direct, Member FDIC

Methodology

NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers and robo-advisors. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).

For more details about the categories considered when rating providers and our processes, read our full broker ratings methodology and our full robo-advisor ratings methodology.

To recap our selections...

NerdWallet's Best Roth IRA Accounts of June 2023

Frequently asked questions