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Best Bank investment

Best Bank For Investing / September 6, 2016

NerdWallet offers financial tools and advice to help people understand their options and make the best possible decisions. The guidance we offer and info we provide are deeply researched, objective and independent.

We spent over 300 hours reviewing the top online brokers before selecting the best for our readers. And to help you find the one that’s best for you, we’ve highlighted their pros, cons and current offers.

The Roth IRA is a unique addition to your retirement savings plan, giving you a pot of tax-free income in retirement. Whether you’re opening your first account, looking to transfer your existing Roth IRA to a new broker or converting a 401(k) or traditional IRA to a Roth, check out NerdWallet’s roundup of the best Roth IRA account providers.

We’ve considered the factors that matter most to Roth IRA investors — fees, investment selection, account minimums and customer service — to select our top picks by category. Most of the brokers below offer a wide selection of funds that can be purchased without transaction fees, including no-transaction-fee mutual funds and commission-free exchange-traded funds (ETFs).

Best Roth IRA providers overall

These providers offer a large fund selection, high-quality customer service and reasonable account minimums and fees.

Five-star brokers Charles Schwab and TD Ameritrade are ready-made for retirement investors: They offer their customers a large suite of retirement planning tools and resources, alongside impressive no-transaction-fee and commission-free fund selections. Both brokers also have 24/7 customer service, local offices and online and in-branch educational offerings.

TD Ameritrade edges out Schwab slightly when it comes to account minimums, requiring no initial deposit compared to Schwab’s $1, 000 minimum. However, Schwab waives its minimum with auto-deposits of at least $100 a month, and offers an impressive selection of index funds with investment minimums of just $100.

Best Roth IRA providers with no account minimum

These providers have $0 minimum investment requirements for Roth IRAs.

To size up some additional options alongside our top-choice TD Ameritrade — which also has no account minimum — investors should consider E-Trade and Merrill Edge. Both brokers require no account minimum to access their quality 24/7 customer service, including physical branches (Merrill Edge customers can visit advisors at 2, 000 Bank of America locations).