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Hi guys...am looking for a custodian for a direct rollover and a self directed ira.
Have heard of few companies such as Midland, Advanta and Millenium amongst others.
Wondering if you have any experience with the above or any suggestions with some you used and like. This would primarily be equities and futures at times.
Cheers n thnx
Can you help answer these questions from other members on NexusFi?
I recommend Advanta. They give us excellent service.
Matt
Optimus Futures
There is a risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Have you ever considered Interactive Brokers? If not, I would highly recommend it. Not only is their annual custodian fee very competitive, but also one can trade different type of instruments from one account (equity, futures, options, forex etc). I have used IB for my IRA account for a few years. So far so good.
According to customers we have received from them, I was told that their margins are restrictive in their IRA accounts.
Matt
Optimus Futures
There is a risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Thanks @mattz @bmfan for the info. it helps. will check on this.
restrictive on margins....guess would be a problem for short equities....and maybe futures...depending on their policies
guess for both....paper work is handled by the brokers.....only the admin part if handled by the custodian. Guess from a fund safety perspective ....need to probably check if any fdic or similar protection when not in a position
You most welcome. Yes, we do assist with the paperwork that at time could be lengthy, and in my experience all custodians need a "reminder" to get things done. We try and stay on top of them. FDIC does not cover Commodity Futures.
Thanks,
Matt
Optimus Futures
There is a risk of loss in futures trading. past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
It's my understanding that short selling equities is not allowed in any IRA account, regardless of which broker you use. So you'd better not expect to short sell equities in your IRA account.