Opening a Self-Directed IRA/401k Requires a 3rd Party Custodial Firm
When you are considering self-directing your IRA/401k, you’ll need to find a 3rd party custodial firm. Why is this 3rd party custodian necessary? Well, in essence, they are the ones who make sure that the money isn’t being withdrawn without the appropriate penalties (if required by IRS regulations). There is a fee associated with using a 3rd party custodial firm, however, the fees are fairly reasonable.
An important thing to ask when looking for a custodial firm is whether or not they permit the funds to be placed in a trading account with a forex (foreign exchange) broker/dealer. Not all custodial firms support that type of self-direction.
Another thing to ask is whether or not you can open the account with an “off-shore” broker, that is, one that is outside the United States. This is important because many of the recent regulations being put in place by the National Futures Association make trading with a US broker much more restrictive.
There are two firms that I know of currently who permit forex trading within the IRA/401k and will wire your funds to an off-shore broker. Those two firms are: Millennium Trust Company and Equity Trust Company.
The fees differ for each firm and can change, so it is best to visit their respective websites to find out what the current fee structure is. The good news is that these fees may be tax-deductible! Consult your tax professional with questions regarding including these fees as part of your itemized deductions.
Many people have found a greater sense of control over their financial future by taking part of their overall retirement portfolio and putting it in a self-directed account. And some of them have even found a way to earn some consistent returns in the world’s largest financial market…the foreign currency exchange (forex).
Opening a Self-Directed IRA/401k Requires a 3rd Party Custodial Firm

Carole loves being a Mom and trading the forex. She lives life to the fullest and has been writing about her experiences with using the forex for building her retirement portfolio. Feel free to see some of her material at Forex IRA Trading.
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