You can open a Roth IRA at a variety of financial institutions depending on your preferences for managing investments:
- Online brokerages : Ideal if you want to pick and manage your own investments. Popular brokers with no account minimums and $0 commissions include Charles Schwab, Fidelity, Vanguard, Interactive Brokers, and Merrill Edge. These platforms offer a wide range of low-cost investment options like index funds and ETFs, plus retirement planning tools
- Robo-advisors : Suitable if you prefer a hands-off approach where a service builds and manages a diversified portfolio for you. Examples include Wealthfront, Betterment, and Schwab Intelligent Portfolios. These charge a small management fee but require little effort on your part
- Directly with major firms : You can open a Roth IRA directly online with firms like Fidelity, Vanguard, and Charles Schwab. The application process is typically quick and requires identification, Social Security number, beneficiary info, and funding details
In summary, you can open a Roth IRA at major brokerage firms like Fidelity, Vanguard, or Charles Schwab, or through robo-advisors if you want automated management. Most providers have no minimum deposit requirements and $0 commissions, making it accessible to start investing for retirement
. Before opening, confirm you meet the eligibility requirements based on your income and filing status, and decide how much you want to contribute annually (up to $7,000 or $8,000 if over 50 in 2025)
