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Best Roth IRA Accounts of December 2024

In our analysis, the best Roth IRAs overall are Fidelity and Charles Schwab. However, all of our picks stand out for their low costs and large selection of retirement investments.

Profile photo of Alana Benson
Written by Alana Benson
Lead Writer
Profile photo of Pamela de la Fuente
Reviewed by Pamela de la Fuente
Assigning Editor
Profile photo of Arielle O'Shea
Edited by Arielle O'Shea
Lead Assigning Editor
 
Fact Checked

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Our evaluation of the best Roth IRA accounts includes providers that fall into two main categories: online brokers and robo-advisors. Online brokers allow you to choose your own investments, including individual stocks. Robo-advisors build and manage your Roth IRA portfolio for you, typically for a small fee.

How to choose the best place to open a Roth IRA

For most retirement investors, factors like customer support, account fees, retirement planning tools and investment selection are the highest priorities, so these are also among the factors we heavily consider when evaluating Roth IRA accounts. We're looking for well-rounded providers that offer a large mutual fund selection — including low-fee and low-minimum funds, so you can start investing right away — and customer support that is there when you need it. We also evaluate each provider's website to ensure it is easy to navigate and clearly discloses fees, minimums, investment options and other key details.

If you're looking to open a Roth IRA at a broker, we know you'll want a trading platform that is accessible and responsive. We test each Roth IRA firm's trading platform and account funding experience, to ensure a strong UX and smooth account opening experience.

Below, we've selected the best Roth IRAs from brokers and robo-advisors, so there is one on our list to meet the needs of every type of retirement saver. We've also categorized them to help you find the right Roth IRA for you. One trend that has emerged in the last year: Several providers now offer to match a percentage of your Roth IRA contributions, similar to how employers often match 401(k) contributions. We've included providers that offer this on our list.

Our deep, independent analysis of Roth IRAs cuts through the details to find and evaluate the information investors want most. To see our full methodology and learn more about our process, read our criteria for evaluating brokers and for evaluating robo-advisors.

Over 60 investment account providers reviewed and rated by our expert Nerds.

More than 50 years of combined experience writing about finance and investing.

Hands-on testing of the account funding process, provider websites and investment platforms.

Dozens of objective ratings rubrics and strict guidelines to maintain editorial integrity.

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.

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Get matched with a financial advisor in minutes through NerdWallet Advisors Match

Our evaluation of the best Roth IRA accounts includes providers that fall into two main categories: online brokers and robo-advisors. Online brokers allow you to choose your own investments, including individual stocks. Robo-advisors build and manage your Roth IRA portfolio for you, typically for a small fee.

How to choose the best place to open a Roth IRA

For most retirement investors, factors like customer support, account fees, retirement planning tools and investment selection are the highest priorities, so these are also among the factors we heavily consider when evaluating Roth IRA accounts. We're looking for well-rounded providers that offer a large mutual fund selection — including low-fee and low-minimum funds, so you can start investing right away — and customer support that is there when you need it. We also evaluate each provider's website to ensure it is easy to navigate and clearly discloses fees, minimums, investment options and other key details.

If you're looking to open a Roth IRA at a broker, we know you'll want a trading platform that is accessible and responsive. We test each Roth IRA firm's trading platform and account funding experience, to ensure a strong UX and smooth account opening experience.

Below, we've selected the best Roth IRAs from brokers and robo-advisors, so there is one on our list to meet the needs of every type of retirement saver. We've also categorized them to help you find the right Roth IRA for you. One trend that has emerged in the last year: Several providers now offer to match a percentage of your Roth IRA contributions, similar to how employers often match 401(k) contributions. We've included providers that offer this on our list.

Our deep, independent analysis of Roth IRAs cuts through the details to find and evaluate the information investors want most. To see our full methodology and learn more about our process, read our criteria for evaluating brokers and for evaluating robo-advisors.

Over 60 investment account providers reviewed and rated by our expert Nerds.

More than 50 years of combined experience writing about finance and investing.

Hands-on testing of the account funding process, provider websites and investment platforms.

Dozens of objective ratings rubrics and strict guidelines to maintain editorial integrity.

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.

Best Roth IRA Accounts

Our pick for

Roth IRA match (online broker)

NerdWallet rating 

4.5

/5
Robinhood IRA
Learn more

on Robinhood's website

Fees

$0

Account minimum

$0

Promotion

1% match

on eligible contributions up to IRA contribution limits.

Pros

  • Commission-free stock, options and ETF trades.

  • IRA with 1% match (3% for Gold members).

  • Streamlined interface.

  • Investment recommendations available for IRA portfolios.

  • High interest rate on uninvested cash.

Cons

  • No mutual funds or individual bonds.

Why We Like It

Robinhood shook up the IRA market with its 1% match on contributions — an offer that is typically only common among employer retirement plans.

Our pick for

self-employed retirement savers (online broker)

NerdWallet rating 

4.8

/5
Charles Schwab
Learn more

on Charles Schwab's website

Fees

$0

per online equity trade

Account minimum

$0

Promotion

None

no promotion available at this time

Pros

  • Commission-free stock, options and ETF trades.

  • Large selection of no-transaction-fee mutual funds.

  • Strong retirement planning tools.

Cons

  • Low interest rate on uninvested cash.

  • High fee for transaction-fee funds.

Why We Like It

Charles Schwab is one of the best overall IRA providers, with high-quality customer service, no account minimum and low fees. The company offers a large selection of no-transaction-fee funds, gives users access to extensive research and charges no commission for stock, options and ETF trades.

Our pick for

portfolio diversification (robo-advisor)

NerdWallet rating 

5.0

/5

Reviewed in: Oct. 2023

Period considered: Aug. - Oct. 2023

Wealthfront IRA
Learn more

on Wealthfront's website

AD

Paid non-client promotion

Fees

0.25%

management fee

Account minimum

$500

Promotion

Get a $50 customer bonus

when you fund your first taxable investment account

Pros

  • Get $50 customer bonus when you fund your first taxable investment account (NerdWallet promotion).

  • Automatic rebalancing.

  • Digital financial planning tools.

  • Low management fee.

Cons

  • No access to human advisors.

  • No fractional shares.

Why We Like It

Wealthfront is our highest-scoring robo-advisor thanks to its blend of automated investment portfolios and DIY stock investing portfolios, its wide variety of account options, excellent tax strategy and low management fee. Wealthfront offers Roth, traditional, rollover and SEP IRAs, along with backdoor Roth conversions and 401(k) rollovers.

Our pick for

advanced traders (online broker)

Best Online Broker for Advanced Traders 2024

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

Pros

  • Commission-free stock, options and ETF trades.

  • Large investment selection.

  • Strong research and tools.

  • Huge selection of no-transaction-fee mutual funds.

  • High order execution quality.

Cons

  • High minimum to earn interest on uninvested cash.

  • Website can be difficult to navigate.

Why We Like It

Don't let the name fool you: IBKR Lite offers commission-free stock trading (including international trade capabilities), more than 19,000 mutual funds, and a well-featured platform.

Our pick for

complimentary access to financial advisors (robo-advisor)

NerdWallet rating 

4.4

/5

Reviewed in: Nov. 2024

Period considered: Oct. - Nov. 2024

SoFi Robo Investing
Learn more

on SoFi Invest's website

AD

Paid non-client promotion

Fees

0.25%

management fee

Account minimum

$50

Promotion

1% match on rollovers and contributions

Terms and conditions apply. Roll over a minimum of $20K to receive the 1% match offer. Matches on contributions are made up to the annual limits.

Pros

  • Access to certified financial planners.

  • 1% match on IRA rollovers and contributions.

  • Range of portfolio options.

  • Access to socially responsible investments and alternative investments.

Cons

  • No tax-loss harvesting.

Why We Like It

A low management fee that includes access to financial advisors and career counselors makes SoFi Robo Investing a solid choice for beginning and younger investors.

Our pick for

best for new IRA investors (robo-advisor)

NerdWallet rating 

5.0

/5

Reviewed in: Oct. 2024

Period considered: Aug. - Oct. 2024

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

Get 1% match

of your net Roth and traditional IRA contributions until December 30, 2024. Terms apply.

Pros

  • Multiple investment options.

  • Robust goal-based tools.

  • Fractional shares limit uninvested cash in portfolios.

  • Low management fee.

Cons

  • Additional fee for access to financial advisors.

Why We Like It

Betterment offers a powerful combination of goal-based tools, affordable management fees and no account minimum. Betterment has a wide range of investments, including socially responsible and crypto portfolios and gives clients access to Roth, traditional, inherited, rollover and SEP IRAs.

Our pick for

best Roth IRA overall (online broker)

Best Broker for IRA Investors 2024

NerdWallet rating 

5.0

/5
Fidelity Roth IRA
Fees

$0

no account fees to open a Fidelity retail IRA

Account minimum

$0

Promotion

None

no promotion available at this time

Pros

  • Commission-free stock, options and ETF trades.

  • Offers several index funds with no expense ratios.

  • Free research and data.

  • Strong customer support.

  • Helpful retirement planning tools.

  • High interest rate on uninvested cash.

Cons

  • Relatively high broker-assisted trade fee.

Why We Like It

Many investors are familiar with Fidelity as a provider of 401(k) plans — the broker is one of the biggest names in employee retirement accounts. It can be convenient to also have an IRA under the same roof, because you'll be able to seamlessly view all account balances in one place. But even for those who don't have a 401(k) with Fidelity, the company offers access to low-cost retirement investments (including no-fee, no-minimum index funds) and innovative tools to help you plan for retirement and check in on your progress.

Our pick for

complimentary access to financial advisors (online broker)

NerdWallet rating 

4.4

/5
SoFi Active Investing
Learn more

on SoFi Invest's website

Fees

$0

per trade

Account minimum

$0

Promotion

Get up to $1,000

in stock when you fund a new account.

Pros

  • No commissions on stock, options and ETF trades

  • Complimentary access to financial planners.

  • IPO access.

  • IRA match.

Cons

  • Low interest rate on uninvested cash.

Why We Like It

SoFi Active Investing's $0 trading commission, complimentary access to financial advisors, fractional shares and $0 account minimum are attractive to new investors. More advanced investors will appreciate the company's wide mutual fund selection and IPO access.

Our pick for

best Roth IRA overall (robo-advisor)

NerdWallet rating 

5.0

/5

Reviewed in: Oct. 2024

Period considered: Aug. - Oct. 2024

Fidelity Go®

Unpaid non-advisory client promotion

Fees

0% - 0.35%

management fee

Account minimum

$0

Promotion

None

no promotion available at this time

Pros

  • Free portfolio management on balances under $25,000.

  • No investment expense ratios.

  • Human oversight of portfolio allocations.

  • Integration with other Fidelity accounts.

  • No account minimum ($10 required to start investing).

Cons

  • No tax-loss harvesting.

Why We Like It

Fidelity's robo-advisor, Fidelity Go, frequently makes our list of the best robo-advisors for its low fees — including free management on balances below $25,000 — integration with other Fidelity accounts and its use of Fidelity Flex funds (Fidelity mutual funds), which have no expense ratios. Fidelity Go does not offer tax-loss harvesting.

Our pick for

Roth IRA match (robo-advisor)

NerdWallet rating 

4.6

/5

Reviewed in: Oct. 2024

Period considered: Aug. - Oct. 2024

Acorns
Learn more

on Acorns' website

AD

Paid non-client promotion

Fees

$3 - $12

per month

Account minimum

$0

Promotion

$10 sign-up bonus

Pros

  • Automatically invests spare change.

  • Cash back at select retailers.

  • Educational content available.

  • No account minimum ($5 required to start investing).

  • IRA match at some service tiers.

  • High interest rate on checking and savings at some service tiers.

Cons

  • Monthly fees can be significant for small balances.

  • $35 per ETF to transfer funds to another broker.

  • No tax-loss harvesting.

Why We Like It

Acorns is known for its automatic roundups that make saving and investing easy. The downside? At small account balances, Acorns' fees can cut into investment returns. Acorns has great tools for kids at the most expensive tier, such as a bank account and debit card designed to help them learn about all things money. But Acorns has zero financial advisor access or tax tools and higher than average transfer fees.

Our pick for

free investment management (robo-advisor)

Best Robo-Advisor for IRA Investing 2024

NerdWallet rating 

5.0

/5

Reviewed in: Oct. 2024

Period considered: Aug. - Oct. 2024

Schwab Intelligent Portfolios®

Unpaid non-client promotion

Fees

0%

management fee

Account minimum

$5,000

Promotion

None

no promotion available at this time

Pros

  • No portfolio management fee.

  • Wide ETF selection.

  • Customizable portfolios.

Cons

  • $5,000 account minimum.

  • Portfolios hold a large cash allocation.

  • Tax-loss harvesting only available on balances of $50,000 or more.

Why We Like It

Schwab Intelligent Portfolios is unique in charging zero management fee, but the advisor's portfolios tend to hold a larger cash allocation than other robo-advisors (meaning a good chunk of your money isn't invested). The account minimum, at $5,000, is fairly high, but Schwab has some of the best customer service in the business.

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

How much money do I need to open a Roth IRA?

That's a great question — as you may have noticed on our list above, many Roth IRA accounts do not require a minimum initial deposit, which means you can open your account with as little as $1. The exception is some of the robo-advisors on our lists — robo-advisors sometimes have higher minimums.

The catch, of course, is that you'll need to contribute enough to your Roth IRA to begin investing. It's important to remember that a Roth IRA isn't an investment itself; once you've funded your account, you'll need to select investments. (If you've opted for a robo-advisor, the service will do this for you with your approval.) Some investments do have investment minimums, but many do not.

The more important consideration with a Roth IRA account is the maximum annual contribution limit — for 2024 and 2025, that amount is $7,000, or $8,000 for those 50 or older.

The Roth IRA also has income rules for contributions. For 2024, your ability to contribute begins phasing out at $146,000 for single filers and $230,000 for those married filing jointly. For 2025, that phase out starts at $150,000 for single filers and $236,000 for joint filers. The contribution limit referenced above is slowly reduced until your ability to contribute is eliminated completely.

Last updated on December 2, 2024

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 December 2024

Frequently asked questions