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Custodians

  #1 (permalink)
 
paps's Avatar
 paps 
SF Bay Area + CA/US
 
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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

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  #3 (permalink)
 
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paps View Post
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

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.
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  #4 (permalink)
 bmfan 
California, USA
 
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Hi,

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.



paps View Post
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


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  #5 (permalink)
 
mattz's Avatar
 mattz   is a Vendor
 
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bmfan View Post
Hi,

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]
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  #6 (permalink)
 
paps's Avatar
 paps 
SF Bay Area + CA/US
 
Experience: None
Platform: TS, TOS, Ninja(Analytics)
Trading: NQ CL, ES when volatile mrkts
Posts: 1,739 since Oct 2011
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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

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  #7 (permalink)
 
mattz's Avatar
 mattz   is a Vendor
 
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paps View Post
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]
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  #8 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
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paps View Post
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

I recommend Midland and have had a great experience with them.

Mike

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  #9 (permalink)
 bmfan 
California, USA
 
Experience: Intermediate
Platform: NinjaTrader, TradeStation
Trading: ES, Forex, Oil, Stocks
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paps View Post
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

paps,

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.

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  #10 (permalink)
 
paps's Avatar
 paps 
SF Bay Area + CA/US
 
Experience: None
Platform: TS, TOS, Ninja(Analytics)
Trading: NQ CL, ES when volatile mrkts
Posts: 1,739 since Oct 2011
Thanks Given: 2,176
Thanks Received: 1,726


@bmfan ahh wow...thanks did not know that. Guess will need to go with VXZ in a short situation or market down.

But short position on Futures allowed?

thnx

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