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Custodians
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Custodians

  #1 (permalink)
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Custodians

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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  #2 (permalink)
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  #3 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
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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.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #4 (permalink)
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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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The following user says Thank You to bmfan for this post:
 
  #5 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,042 since Sep 2010
Thanks: 1,912 given, 2,750 received
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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.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #6 (permalink)
Elite Member
SF Bay Area + CA/US
 
Futures Experience: None
Platform: Tradestation, Ninja
Favorite Futures: NQ ES & Equities
 
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Posts: 1,509 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)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,042 since Sep 2010
Thanks: 1,912 given, 2,750 received
Forum Reputation: Legendary


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.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #8 (permalink)
Site Administrator
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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)
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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)
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Posts: 1,509 since Oct 2011
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@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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