Comments on: Start Saving For Retirement Today: Best IRA Online Brokers

By: DebtsnTaxes

DebtsnTaxes — Fri, 03 Aug 2012 02:50:27 +0000

A lot of the time if you ask the broker that you are transfering too, they will reimburse you for the transfer charge. Never hurts to ask.

By: Jeff Rose

Jeff Rose — Tue, 31 Jul 2012 14:47:16 +0000

@Evan. It is possible. You would then to open a new account with the online brokerage of your choice and then fill out their transfer paperwork. They will then contact your old firm to transfer the account.

The only issue is that your old firm is going to hit you up with a transfer charge. IRA’s are in the neighborhood of $50-$95 depending on the firm. Plus they charge you some sort of pro-rated charge on the IRA custodial fee. I’ve seen some people charged around $150 just to transfer their account. A lot of money initially, but it should pay off in the long run.

By: Evan

Evan — Sat, 28 Jul 2012 10:54:36 +0000

How do you switch the Ira from a big firm with large fees to a better firm like etrade? Is it possible?

By: Ted Jenkin

Ted Jenkin — Wed, 25 Jul 2012 12:33:13 +0000

Jeff, Great comments on the different on line brokerage houses and I agree that the big companies simply don’t want to help small investors because they don’t see them to be profitable. This is why young investors should look for a company specifically focused on the X and Y generation or engage in some type of fee based relationship if they need to get advice. Ted Jenkin, CFP®, AWMA®, CRPC®, AAMS®, CMFC®, CRPS® Co-CEO and Founder of oXYGen Financial, Inc. Editor In Chief at Your Smart Money Moves

By: DebtsnTaxes

DebtsnTaxes — Wed, 25 Jul 2012 02:38:43 +0000

I’m really sad that you didn’t include TdAmeritrade in your list. I have a Roth and a Individual Trading Account with them and love it. Their commissions are a little high at first ($9.99) but if you trade enough or have been with them long you can ask to get that lowered. I also like that they offer all of their trading platforms for free, which is something Etrade charges for unless you do so many trades per quarter.

Sharebuilder can be a great broker for long term investing, but they have a downside also. Any trade which is more than 1000 shares they charge you extra. Not a fan of that.

As for Zecco, I’ve used them also and I have to say, you get what you pay for.

By: Jason

Jason — Tue, 24 Jul 2012 18:45:06 +0000

Jeff, what is your opinion of T. Rowe Price for IRA/Roth IRA?

By: Adam

Adam — Tue, 24 Jul 2012 16:23:15 +0000

Wow! Great Tips–thanks!