BEST OF

16 Best Roth IRA Accounts of February 2023

A Roth IRA is a great tool to help you save for retirement. Check out our picks for the best Roth IRA accounts below.

Alana Benson
By Alana Benson 
Edited by Arielle O'Shea

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A Roth IRA is one of the best places to save 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.

🤓Nerdy Tip

If you didn't contribute to a Roth IRA account for 2022, there's still time: You can make a contribution toward 2022's annual limit until April 18, 2023, the tax-filing deadline.

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 IRAs are where they excel.

Best Roth IRA Accounts

Our pick for

Hands-On Investors

For people who want to pick their own investments, opening a Roth IRA at an online broker makes a lot of sense. At the best brokers, you’ll find a large list of low-cost investments to choose from, including index mutual funds and exchange-traded funds. Here are the favorites from this year's analysis:

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 

4.5

/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 

4.7

/5
Merrill Edge IRA
Learn more

on Merrill Edge's website

Fees

$0

per trade

Account minimum

$0

Promotion

Up to $600

when you invest in a new Merrill Edge® Self-Directed account.

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

NerdWallet rating 

5.0

/5
TD Ameritrade IRA
Fees

$0

per trade

Account minimum

$0

Promotion

None

no promotion available at this time

Our pick for

Hands-Off Investors

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 

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

Up to 1 Year

of free management for new clients. Terms apply.

NerdWallet rating 

4.9

/5

Reviewed in: Oct. 2022

Period considered: Aug. - Oct. 2022

Ellevest
Learn more

on Ellevest's website

AD

Paid non-client promotion

Fees

$5 - $9

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 $6,000 per year in 2022 and $6,500 in 2023. We’ve included promotions with low deposit requirements where available.

Last updated on February 13, 2023

You may also like these

People often identify opening a savings account as their next money move.

LendingClub High-Yield Savings

4.5

NerdWallet rating 
LendingClub High-Yield Savings

APY

4.00%

With $0 min. balance for APY

at LendingClub Bank, Member FDIC

SoFi Checking and Savings

5.0

NerdWallet rating 
SoFi Checking and Savings

APY

3.75%

With $0 min. balance for APY

Bonus

$250

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

Marcus by Goldman Sachs Online Savings Account

4.5

NerdWallet rating 
Marcus by Goldman Sachs Online Savings Account

APY

3.75%

With $0 min. balance for APY

at Marcus by Goldman Sachs, 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 February 2023

Frequently asked questions