Here are the top five online brokers for IRA retirement accounts, based on over 80 variables.

• Charles Schwab – Best for IRA accounts overall.
• TD Ameritrade – Best education and trading tools.
• Fidelity – Excellent for traditional and rollover IRAs.
• E*TRADE – Balanced offering.
• Merrill Edge – Best for ESG research.

  Do I need a broker for an IRA?

  Your answer will help determine whether you should set up an IRA with an online broker or a robo-advisor. If you want to choose and manage your investments, you’ll need an online broker. If you’d like an automated way to manage your investments, consider a robo-advisor.

  Can a large brokerage account be converted to an IRA?

  If you’ve amassed a large brokerage account, you may decide to convert it to an IRA. You’ll get a tax deduction for any money that you put into a traditional IRA or, if you open a Roth IRA, the money that you put in will grow tax-free for your retirement.

  Which is better a traditional IRA or a brokerage account?

  The traditional IRA is designed to improve the efficiency of your ability to build your retirement. The holdings within your account are tax-deferred until you begin taking funds out. The benefit here is that you can invest savings freely without worrying about the tax burdens of the income. This helps you save more over time.

  How much can I contribute to a brokerage account?

  When you have a brokerage account that isn’t already an IRA, you can only convert it to an IRA gradually. Every year, you’ll be able to put in your maximum IRA contribution. For 2013, the maximum contribution is $5,500 or your total taxable compensation, whichever is less, and your Roth IRA contribution limit could be even lower.

  When to start an IRA or brokerage account?

  Experts say you may want to start by opening an IRA and then invest in a taxable brokerage account. Consider opening a brokerage account when you want to contribute more money than an IRA allows….