MyFreeIRA is in development and is not accepting accounts or contributions. Custody will be provided by Institutional Trust Company through Investor Services. Institutional Trust Company is seeking a South Dakota non-depository trust charter and is not chartered. Nothing on this site is an offer to open an account or a recommendation to invest.
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Fees

What it costs, in one table.

A fee schedule that needs a phone call is not a fee schedule. Here is every charge, including the ones that are not ours.

MyFreeIRA charges

ChargeAmount
Account establishment$0
Annual or monthly maintenance$0
Account closing or transfer out$0
Money market option$0
ETF purchase or sale commission$0
Payroll contribution processing$0
Statements and tax forms$0
Beneficiary changes$0

See footnote 1

Third-party charges passed through at cost

These are set by regulators and are not ours to waive. We pass them through at cost, without markup, and itemise them on your transaction confirmation.

ChargeSet byWhen it applies
Section 31 transaction feeSECSales of ETFs only
Trading Activity FeeFINRASales of ETFs only
Fund expense ratioThe fundHeld inside the ETF price, not billed to you

Buying an ETF carries essentially no third-party charge. Selling carries two, and both are fractions of a cent. Exact rates change and are set by the regulator, so we publish the current figures in the fee schedule document rather than hard-code them here.

See footnote 2

How MyFreeIRA is funded

MyFreeIRA does not charge you an account fee. Our compensation is described in the account agreement and the fee schedule document, which you receive before opening an account and can review at any time.

What is not yet final

The rate applied to automated payroll purchases is being confirmed with our executing broker and will be stated here before launch. If it is not $0, it will say so plainly.

See footnote 2

Footnotes

  1. No account establishment fee, no maintenance fee and no closing fee. Cash held in the money market option carries no MyFreeIRA fee. Investment options other than the money market may carry third-party costs, described on the Fees page. ↩
  2. MyFreeIRA charges no commission on purchases or sales of the US exchange-listed ETFs on its curated menu. Mandatory third-party charges set by the SEC and FINRA are passed through at cost, without markup, and are itemised on your transaction confirmation. Final rates are confirmed with our executing broker before launch. ↩ ↩