Best IRA accounts in 2026

Are you in need of an IRA account? There are so many different types of IRAs offered by brokers today, but not all of them are equally profitable. We have prepared a rating of the best brokers today who are offering simple IRA accounts as well as Roth IRA accounts in 2026.

In this guide, we'll break down the best IRA accounts for beginner and experienced investors to try today. We'll also look into the best brokers that offer such accounts, the differences between types of IRA accounts, and what exactly IRA accounts are. Just as well, this guide will break down everything from minimum deposits to fees to profitability for each account. If you're unsure of how to choose the right IRA account or what the difference is between an IRA and a 401(k), we'll explore those concepts as well.

Best IRA brokers

Whether you need the best Roth IRA accounts or traditional IRA accounts, you’ll be able to find the right product from one of these brokers.

Best IRA brokers

	eOption	Fidelity	Optimus Futures	SoFi Invest	Charles Schwab	Webull
IRA	Yes	Yes	Yes	Yes	Yes	Yes
Account min.	No	No	500	No	No	No
Interest rate	8.95%	4.97%	No	1%-9.5%	Varies	4.74%-15%
Basic stock/ETF fee	$0	No	Not specified	No	$0	No
Min. stock/ETF fee	$0	No	Not specified	No	$0	No
Basic futures fee	Not specified	Varies	$0.25/$0.75	No	$2.25	$1,25
Min. futures fee	Not specified	Varies	$0.05	No	$2.25	$0,70 - $0,25
Open an account	Study review	Study review	Study review	Study review	Study review	Study review

1

9.4/10

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Review

The eOption broker (eoption.com) is an American stockbroker headquartered in Glenview, Illinois. It has been operating since 2007 and is a member of FINRA (CRD#: 7297/SEC#: 8-21765) and SIPC. It specializes in options trading and also acts as an intermediary in trades involving the popular securities classes. The company offers low trading commissions, super-fast execution of orders, and modern platforms with an advanced set of analytical tools. In 2020-2021, eOption was recognized as the best options broker by several resources such as Investopedia, The Tokenist, Benzinga, Investormint, and NerdWallet.

Pros/Cons

•Low commissions for options trading — $0.10 per contract plus $1.99 per trade.

•No minimum deposit requirements for cash trading accounts opened by US residents.

•FINRA membership and the protection of clients’ funds are available through Securities Investor Protection Corporation (SIPC).

•Access to professional trading platforms such as DAS and Sterling Trader Pro are developed by third-party software developers for the proprietary eOption terminal.

•An affiliate program with high rewards.

•Compensation for commissions for funds or assets from other brokerage firms and institutions transfer.

•Prompt support by phone and online chat in the trading platform during company business hours.

•The narrow range of choice of investment solutions to generate passive income.

•You cannot trade Pink Sheet and Bulletin Board stocks.

•There is no online chat on the company's website.

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2

9.2/10

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Fidelity Investments is a major U.S. financial services company founded in 1946 by businessman and lawyer Edward Crosby Johnson II. The firm offers a broad range of services, including securities trading, access to mutual funds, ETFs, bonds, and fixed income annuities, as well as investment consulting and asset management. Fidelity has earned numerous industry awards and is consistently recognized as a leader in the online brokerage sector by publications such as Investor’s Business Daily, Kiplinger, Barron’s, and StockBrokers.com.
Fidelity Investments is regulated by the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). Client assets are protected by the Securities Investor Protection Corporation (SIPC).

Pros/Cons

•Proprietary Fidelity Trader+ platform for active investors offering real-time data, advanced charting, and customizable layouts across web, desktop, and mobile devices.

•No brokerage fees on stock and ETF trades.

•Personalized investment planning with a 0.5% annual advisory fee based on assets under management.

•Fractional shares that allow investing small amounts by purchasing part of a security.

•High level of client protection through SIPC coverage and additional insurance.

•More than 3,000 mutual funds and ETFs, including Fidelity’s own zero-fee funds.

•No localization, as the platform and support are available only in English.

•No active bonus programs or referral rewards.

•Margin trading available only with an account balance of at least $2,000.

•No full-featured demo account.

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3

9.1/10

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Optimus Futures is a U.S. introducing futures broker registered with the Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA). The broker works with multiple Futures Commission Merchants (FCMs), and client funds are held in segregated accounts with clearing partners. Optimus Futures offers individual, joint, corporate, trust, and IRA accounts. The firm accepts clients from many countries and provides access to exchange-traded futures and options across regulated U.S. venues and international markets, including Eurex, Euronext, ICE, Osaka, and SPI.
Key terms at Optimus Futures include a $500 minimum deposit for micro futures, commissions from $0.25 per side for micro contracts and $0.75 per side for E-mini contracts, and no platform fees for the broker’s proprietary solutions. Clients can access reduced intraday margin requirements for selected contracts, and use Optimus Flow, Optimus Web, and Optimus Mobile, and connectivity to TradingView, CQG, Rithmic, and other platforms for free. The broker also provides educational materials and support from futures specialists. This combination suits beginners, cost-focused intraday traders, and international clients seeking regulated access to U.S. futures markets.

Pros/Cons

•Regulated futures broker operating under U.S. market oversight.

•Wide selection of instruments, including indices, commodities, currencies, and interest rate futures, as well as micro contracts.

•Access to U.S. exchanges and major international derivatives markets.

•Multiple FCM relationships and a wide selection of account types, including retirement options.

•Low entry threshold, with $500 for micro futures and $2,000 for E-mini futures.

•Integration with TradingView, CQG, Rithmic, and more than 20 professional third-party platforms.

•Availability for international clients across many jurisdictions.

•Competitive commissions from $0.25 per side for micro contracts and $0.75 for E-mini and standard contracts.

•Primary focus is on futures and options, so clients seeking unified access to stocks and ETFs may need an additional broker.

•Intraday margin requirements depend on the chosen clearing partner and may change during periods of higher volatility.

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4

8.9/10

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SoFi (Social Finance, Inc.) is an investment company founded in 2011 by graduates of Stanford Business School to provide federal and private student loans. The SoFi Invest division appeared in 2019 to provide brokerage services to active traders and passive investors from the United States. Currently, the broker is a member of FINRA (CRD#: 151717/SEC#: 8-68389) and SIPC and serves over 1,800,000 clients. SoFi Invest offers to invest in stocks (including fractional ones), cryptocurrencies, ETFs, and IPO.

Pros/Cons

•Membership with FINRA and SIPC. These organizations monitor the broker’s compliance with the rules specified in the Client Agreement.

•Clients can combine transactions with stock market instruments with lending, insurance, and financial planning.

•Providing clients with two types of investment: active trading with securities and a passive option with asset management by an automated advisor.

•No commissions for trading stocks and ETFs, or asset portfolio management.

•Possibility to invest in fractional shares of companies.

•Only US residents can open an account with this broker.

•To invest in an IPO, you need to have more than $3000 on your account.

•Day traders can trade if they have an amount of $25,000 or more on their account.

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5

8.7/10

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Charles Schwab is one of the largest financial services firms in the United States and globally. Founded in 1971, it is headquartered in Westlake, Texas. The company provides brokerage, banking, and financial advisory services. Clients can trade stocks, options, ETFs, bonds, mutual funds, futures, annuities, money market funds, and cryptocurrencies. There are no fees for opening or maintaining an account, and there is no minimum deposit requirement. Online commission for most trades in stocks, ETFs, options, bonds, and mutual funds is $0. Charles Schwab is regulated by the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) in the United States.

Pros/Cons

•No minimum deposit requirement.

•Access to international stocks from 30+ countries through different investment approaches and instruments.

•Direct online access to trading on 12 foreign exchanges.

•Trading is available through desktop platforms, web-based solutions, and mobile apps.

•$0 commission for many trades in stocks, ETFs, options, mutual funds, and bonds.

•24/7 client support via online chat.

•No demo accounts.

•No access to the foreign exchange market.

•Withdrawals are processed only in U.S. dollars and are not converted into other currencies.

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6

8.6/10

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Webull is an American broker-dealer headquartered in New York City and is a FINRA (CRD#: 289063/SEC#: 8-69978), SIPC, NYSE, and NASDAQ member. The company was incorporated in May 2017, and in January 2018 it was already registered with the SEC and CFTC. It is part of Webull Financial LLC and is licensed to carry out brokerage activities in all 50 US states. The broker offers a wide range of stock market assets, futures, professional analytics and an intuitive trading platform with a variety of technical and fundamental analysis tools.

Pros/Cons

•Zero commission when trading stocks, options, and ETFs.

•No minimum deposit requirements for brokerage and retirement (IRA) accounts.

•Access to professional intelligent analytics and trading tools.

•There is no support for trading in mutual funds, futures, bonds or stocks of the OTC markets.

•It doesn’t provide an opportunity to make transactions with currency pairs.

•Cryptocurrency trading is available only in mobile applications.

•Replenish your account from $2,000 to trade with favorable leverage.

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What is an IRA?

An individual retirement account, or IRA, is a type of savings account that offers tax advantages that individuals can use to save and invest in their retirement in the long term. An IRA is often compared to a 401(k), as the two types of accounts are very similar. However, a 401(k) plan is typically only available to those with employers, though there are a few 401(k) options for entrepreneurs and business owners. A 401(k) also has a much larger contribution limit than most IRA accounts.

There are a few different types of IRAs. These include traditional IRAs, Roth IRAs, Simple IRAs, and SEP IRAs. Each of these types of accounts has its own advantages and disadvantages that vary quite a bit. Money that is held in an IRA, in general, can’t be used until the account holder is 59 and a half years of age, lest they want to deal with a pretty intense tax penalty of 10% of the total amount withdrawn for the year.

Any individual who earns income can easily open an IRA savings account to start saving for their retirement and will be able to enjoy the tax benefits such accounts offer. Usually, an IRA can be opened through a bank, investment firm, brokerage, personal broker, or other financial institution. It’s worth noting that there are annual income limitations for contribution deductions for traditional IRAs as well as limitations for contributions to Roth IRAs. Those limitations aside, an IRA is a great way to start preparing for your retirement, and reaching annual contribution limits is much more doable when compared to a 401(k).

IRA account types explained

If you have income, you can open an IRA. Even if you already have a 401(k) through your employer, you can open an IRA quite easily. IRAs are based on a number of different financial products, such as stocks, ETFs, bonds, and mutual funds. Just as well, there are a variety of IRA account types that have different rules involving investor eligibility, taxes, withdrawals, etc.

There are some key differences between different types of IRA accounts. Let’s compare and contrast the main four types of IRAS: Simple, Roth, SEP, and traditional IRAs.

Simple IRA

A Simple IRA, or Savings Incentive Match Plan for Employees IRA, is an account that is quite similar to a 401(k). This type of IRA is used by small businesses and self-employed individuals. Employees can contribute to their accounts through a salary deferral. The contribution limits are around $13,500, though this number changes on a yearly basis. Employers are required to contribute up to a 3% matching contribution, or a fixed contribution of about 2% for each employee’s compensation. In order to acquire this type of IRA, an employee must earn at least $5,000 in the two years leading up to the opening of the account.

Roth IRA

One of the more popular types of IRAs, Roth IRAs allow investors to make contributions with the income they have already paid taxes on (also known as after-tax) and their money could possibly grow tax-free, along with untaxed withdrawals throughout retirement. Certain conditions must be met in order to make tax-free withdrawals. While traditional IRAs offer some tax benefits for contributions in the year they are made, Roth IRAs do not offer immediate tax benefits for contributions. However, contributions to a Roth IRA can be made at any time without the need to worry about taxes or additional penalties.

SEP IRA

A SEP IRA, or simplified employee pension IRA, is a type of traditional IRA that is funded for employees by their employer. The employer received tax benefits for doing so. Earnings can grow tax-free, but distributions in retirement are unfortunately taxed. Just as well, contribution limits are significantly higher than other retirement counters. Up to 25% of employee compensation or a total of $58,000 can be contributed in a year, though this limit changes on a year-to-year basis. Employees cannot contribute to the plan through a salary deferral but must work for an employer for at least three years and earn a minimum of $600 annually.

Traditional IRA

With a traditional IRA, individuals can make contributions with income that might be deductible on one’s tax return. Any earnings from a traditional IRA could possibly grow entirely tax-deferred until the individual withdraws those funds in retirement. Most retirees tend to be in a lower tax bracket compared to where they were pre-retirement, so a tax-deferral means that the money they’ve made could be taxed at a much lower rate. Deductions can also be phased out, depending on income. Distribution in retirement is usually taxed as ordinary income. When an individual reaches 72 years of age, they will be subject to required minimum distributions.

Is a 401(k) account different?

There are a few key differences between an IRA and a 401(k). Both IRAs and 401(k)s are retirement savings accounts that are tax-deferred. However, a 401(k) is usually only offered by employers, though there are some solo 401(k) accounts offered to self-employed individuals. IRAs are usually offered by brokers or banks, though some employers can offer contribution matches to SIMPLE IRAs and SEP IRAs. IRAs usually have a lot more investment options and choices available when compared to IRAs. However, the contribution limits are very different. For 2023, the contribution limit for traditional and Roth IRAs will be $6,000. For 401(k) accounts, the contribution limit for 2023 will be $20,500. Those are pretty steep differences, but both types of retirement accounts are quite lucrative for individual investors. Contributions to 401(k)s will create lower taxable income in the specific year they are made, and eligibility is not typically determined by income.

Unsure if you can have an IRA and a 401(k) at the same time? You’re in luck! Individuals can have both an IRA and a 401(k) at the same time and contribute to those accounts at the same time. Just keep in mind that both accounts will have their own contribution limits that must be recognized.

How to choose the best IRA account?

Unsure of how to choose the best IRA account? We get it. There are quite a few options out there.

Follow these steps to start your journey towards finding the best possible IRA for you:

• Select a company that you trust, such as a bank, mutual fund company, insurance company, or broker.

• Consider what you want to invest in. It’s recommended to opt for ETFs and mutual funds, rather than a single stock or bond. You can also have an advisor help you with this.

• Look for brokers that offer free financial advisory services to help demystify the process.

• Look for any kind of fees, especially funding and account management fees.

• Take the time to shop around. There are many types of brokers out there that offer different things and have different levels of trustworthiness.

What are my risks? can I lose money with an IRA?

This is possible, but quite unlikely. Extremely negative market movements, early withdrawal penalties, no diversification of assets, and not enough time to compound your contributions can lead to substantial losses. However, IRAs are meant to be long-term investments. The longer you have a diversified IRA (especially those invested in ETFs or mutual funds), the more time your account will have to grow value. Anyone can start an IRA at any time, but in general, it is recommended to open an account in your twenties or thirties.

Are there any brokerage fees for IRAs?

Most of the brokers we’ve mentioned in this guide do not charge brokerage fees for IRA accounts. However, some brokers or financial institutions will require users to pay different transactions and advisory fees, in addition to fund expense ratio fees. Do your research and look at the fine print when shopping for an IRA provider. We recommend looking into the six IRA brokers we’ve mentioned in our list to ensure that such fees won’t be an issue.

What kind of funds can you contribute to an IRA account?

The contribution limits for most types of IRAs are about $6,000 per year. For Roth IRAs, contribution limits are usually reduced or eliminated for those with higher incomes. For traditional IRAs, those contributions are tax-deductible, but the amount deducted can be reduced or removed entirely if you are covered by a workplace retirement plan. This amount usually changes slightly each tax year, but the type of funds you can contribute usually stay the same.

While most types of income are eligible for IRA contributions, not all income types are eligible. Some sources may not be allowed when it comes to IRA contributions.

What you can contribute to an IRA

Individuals can only contribute earned income to any type of IRA. There are basically two different ways to receive earned income. You must work for someone or a business that pays you your earned income, or you run your own business or farm and earn income.

Earned income will come from a variety of sources, such as wages, tips, commissions, bonuses, salaries, and self-employment payments. The IRA typically considers disability and retirement benefits as earned income until you have reached the age where you can receive an annuity or pension if you don’t have a disability. Basically, if you earn your money, that money can go into an IRA.

What you can’t contribute to an IRA

Only earned income can be contributed to an IRA. There are a lot of things that do not qualify as earned income. A few types of income that do not qualify as earned income include unemployment benefits, social security payments, retirement income, interest and dividends from different types of investments, income generated from rental property as a landlord, divorce alimony, child support, and payments received while incarcerated as an inmate in a penal institution.

It’s worth noting that if you do not have earned income, but your spouse does, you can open a spousal IRA. Such an account will allow a spouse with earned income to contribute to the account on behalf of their spouse. Spousal IRAs can be traditional or Roth IRAs, and the spouse can contribute to both their own IRA and their spousal IRA with the limit of two IRA accounts, or $12,000.

The value of an IRA depends far more on how you use it

Oleg Tkachenko Editor at Cryptocurrency & Blockchain Department

<>When people ask me whether they really need an IRA account, I usually start with one simple point: the value of an IRA depends far more on how you use it than on the account type itself. Many investors focus too much on whether a Roth or traditional IRA is “better,” but in practice, the broker’s fee structure, available investment tools, and long-term flexibility matter just as much.

My recommendation is to first be clear about your time horizon and contribution discipline. If you plan to invest consistently and hold assets long term, an IRA can quietly become one of the most efficient parts of your portfolio. I also encourage investors to choose brokers that make diversification easy – access to ETFs, low-cost funds, and automation can have a bigger impact on results than trying to optimize taxes year by year.

Finally, don’t overcomplicate the start. An IRA is not a trading account, and it shouldn’t be treated like one. Start simple, keep costs low, and focus on steady contributions. Over time, that combination does more for retirement outcomes than chasing short-term performance or constantly switching account types.

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Team that worked on the article

Oleg Tkachenko

Editor at Cryptocurrency & Blockchain Department

Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018.

Learn about our editorial policies

Dr. BJ Johnson

Developmental English Editor

Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK.

Glossary for novice traders

Diversification

Diversification is an investment strategy that involves spreading investments across different asset classes, industries, and geographic regions to reduce overall risk.

Index

Index in trading is the measure of the performance of a group of stocks, which can include the assets and securities in it.

Brokerage fee

A brokerage fee, also known as a commission, is a fee charged by a brokerage or financial institution for facilitating and executing financial transactions on behalf of clients. Brokerage fees are typically associated with services related to buying or selling assets such as stocks, bonds, commodities, or mutual funds.

Investor

An investor is an individual, who invests money in an asset with the expectation that its value would appreciate in the future. The asset can be anything, including a bond, debenture, mutual fund, equity, gold, silver, exchange-traded funds (ETFs), and real-estate property.

CFD

CFD is a contract between an investor/trader and seller that demonstrates that the trader will need to pay the price difference between the current value of the asset and its value at the time of contract to the seller.