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Shrink Your Taxes. Grow Your Retirement.

Learn how an IRA can help you do both — in just minutes.

Why open an individual retirement account (IRA)? There are numerous reasons, but here are two of our favorites.

1. Save on taxes

Because contributions to an IRA are tax-deductible, an IRA can trim your tax bill — all the way up to tax day itself.

2. Boost your savings

The tax savings is a nice immediate perk, but the main benefit of an IRA is the way it helps you save for your future.


Standout IRA providers for DIY investors

With low costs and advanced research tools, these brokers are perfect for those who want to manage their own portfolios.

Broker

Highlights

Commissions

Account Minimum

Current Offers

Start Investing

Merrill Edge

Merrill Edge

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Breadth of research from other providers and own offering

Commissions

$6.95

per trade

Current Offers

$100-$600

in cash bonus with a qualifying deposit

on Merrill Edge's secure website

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TD Ameritrade

TD Ameritrade

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Top research; two powerful trade platforms; educational content

Commissions

$6.95

per trade

Current Offers

500

commission-free trades + up to $600 with qualifying deposit

on TD Ameritrade's secure website

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Etrade

Etrade

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Large selection; reasonable commissions and fees

Commissions

$6.95

per trade

Current Offers

60

days of commission-free trades with a qualifying deposit

on Etrade's secure website

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Standout IRA providers for hands-off investors

Put your investments on autopilot. These robo-advisors offer portfolio management — informed by computer algorithms and your personal investing preferences — at an affordable rate.

Broker

Highlights

Commissions

Account Minimum

Current Offers

Start Investing

Betterment

Betterment

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Offers access to human advisors for additional fee.

Commissions

0.25%

management fee

Current Offers

Up to 1 year

of free management with a qualifying deposit

on Betterment's secure website

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Wealthfront

Wealthfront

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Free management of first $5,000 (for NerdWallet readers); advanced tax optimization strategies.

Commissions

0.25%

management fee

Current Offers

$5,000

amount of assets managed for free

on Wealthfront's secure website

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Wealthsimple

Wealthsimple

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Socially responsible investments; free tax-loss harvesting

Commissions

0.5%

management fee

Current Offers

$50

cash bonus with deposit of at least $1,000 in first 30 days

on Wealthsimple's secure website

Show Details

Want to see more providers?

Review our rankings of the top IRA brokerages of 2018.

Need more resources?

See our library of IRA FAQs to find answers to your questions.

How much can I contribute to an IRA?

How is an IRA different from my 401(k)?

Should I consider a Roth IRA instead of a traditional IRA?

What do I need to open an IRA?

 


Advertiser disclosure

NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only. They are not intended to provide investment advice.
NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. Examples are hypothetical, and we encourage you to seek personalized advice from qualified professionals regarding specific investment issues. Our estimates are based on past market performance, and past performance is not a guarantee of future performance.
So how does NerdWallet make money? We have entered into referral and advertising arrangements with certain broker-dealers and investment advisors under which we receive compensation when you click on links to the partner broker-dealers or investment advisors, and/or submit an application or get approved for an account. At times, we may receive incentives (such as an increase in the fee) depending on how many users click on links to the provider and complete a qualifying action.
However, the results of our tools and editorial reviews are based on independent quantitative and qualitative assessments of product features – nothing else. Our partners cannot pay us to guarantee favorable opinion in any editorial content.