Best Roth IRA companies?

[kv968]

Is price/cost the only factor you look at in evaluating a brokerage? What about service, guidance, research, user-friendly website, reliable trading platforms, etc.?

The Best of the Online Brokers for 2011 - Kiplinger

Fidelity must have changed because everyone I've talked to who used them as a broker said their interface stinks.

I don't think they liked the layout or something.

[jpg7n16]

Fidelity must have changed because everyone I've talked to who used them as a broker said their interface stinks.

I don't think they liked the layout or something.

Yeah they changed the positions page layout. Now instead of having to switch between tabs, you can see cost basis and lots and everything all in one place.

I see why they did it, but it was/is a pain to get used to, when you're used to the other version. I keep clicking in the wrong place and it's a bit frustrating, but I know it's cause I'm so used to the old website.


All change takes getting used to though. They have made some other improvements to the website that I like though. The analysis page gives a lot more info than it used to. And they have some pretty good equity research. I've been using it more and more lately as I make my trading decisions.

[phil83]

Just adding my two cents to the discussion. I used Fidelity for a Traditional IRA for about 5 years, but moved to TradeKing about a year ago. I agree with other comments that it is a pain to use Fidelity's interface. It's usable, but after using TradeKing, I found that TradeKing's interface is much more user-friendly.

The bigger factor for me was the cost of making trades. Someone can correct me if I'm wrong, but I believe it cost $15 to make a trade (vs. $5 for TradeKing). Fidelity also had fees that TradeKing doesn't charge (investing in certain overseas stocks, for example).

Obviously, this will be more of a factor depending on how often and what you trade. Hope this helps!

[Petunia 100]

Just a clarification on the Vanguard $7 commission per trade: that is for non-Vanguard ETFs. Vanguard ETFs are commission free.

J Apple, if you are just starting out, you don't want a brokerage account. To minimize costs but still have a good portfolio, you want a single diversifed fund. A target retirement fund fits the bill nicely. My preference is Vanguard, but the Fidelity and T Rowe Price retirement funds are good choices too.

Brokerage accounts are a great way to go when you have more money accumulated. There are lots of places you can get free trades and diversifying is no longer a logistical difficulty.

[jpg7n16]

Someone can correct me if I'm wrong, but I believe it cost $15 to make a trade (vs. $5 for TradeKing). Fidelity also had fees that TradeKing doesn't charge (investing in certain overseas stocks, for example).

It's only $7.95/trade. Has been that way for a few years now.

Low Online Commissions with Fidelity

Here's the full fee schedule:

http://personal.fidelity.com/accounts/pdf/FBS-BKCOMMSCHED-0105.pdf?refpr=cmr15

Compare to TradeKing's fees:

https://www.tradeking.com/rates/fees

And I don't trade stocks on foreign exchanges, so it doesn't matter to me if they are more than 7.95 But they're $75/trade at TradeKing. I think that's more than Fidelity.


But you can always find a difference in pricing that favors one firm or another. Tradeking adds additional cost per share on penny stocks, while Fidelity doesn't. TradeKing also charges commission on no-load mutual funds (both on the buy/sell side). Fidelity charges no commission on several MFs. Also compare the firms on bond pricing, especially Treasuries ($24.95/trade at TradeKing, Free at Fidelity). Tradeking also charges for having checkwriting, charges for ATM withdrawals, charges for paper statements, etc. None of which cost a thing at Fidelity.

From: https://www.tradeking.com/rates

TRADEKING adds $0.01 per share on the entire order for stocks priced less than $2.00. Maximum commission per order not to exceed 5% of the trade value, with minimum commission of $4.95. Minimum investment of $100 per order in OTCBB and Pink Sheet stocks. TRADEKING does not accept opening trades for stocks below $0.01 per share. OptionsXpress adds $0.01/share over 1000 shares. ++Commissions and fees from published web sites as of 03/15/2012.

From: https://www.tradeking.com/rates/fees

No Load: Purchases: $9.95, Sale: $9.95

Bonds: $4.95 per bond, $14.95 minimum per transaction

Treasuries: $24.95 per transaction

Certificates of Deposit (CDs): $24.95 per transaction

Foreign Stock Transaction Fee (not ADRs): $75.00 + Regular Commission

[breathemusic]

Also, Vanguard will waive the $20 annual fee if you enroll in paperless statements, etc.

Just throwing that out there.

[kv968]

Also, Vanguard will waive the $20 annual fee if you enroll in paperless statements, etc.

Just throwing that out there.

They'll waive that fee with a fund account, but I'm not sure if they'll waive it for going paperless on their brokerage accounts.

[ecoadapt]

Vanguard - Established and Trusted!

[LeslieT]

Thank you so much for asking this question! I've been wanting to start a Roth IRA but was overwhelmed by all the choices. Thanks for the suggestions..

[CoronaAdvances]

I also have all of mine with Vanguard.

[J.Apple902]

Most replies have been Vanguard and Fidelity - thanks!