Creating and funding a futures or foreign exchange trading (forex) account in your self-directed IRA is a relatively simple process. Many clients of Midland Trust choose to invest their retirement funds in futures and forex trading accounts with their self-directed IRA to build tax-sheltered income on the returns.
Below is a list of steps outlining the process of setting up a self-directed IRA so you may begin trading futures and forex investments within your IRA. For additional support, your dedicated Midland representative will walk you through the steps, review the paperwork to ensure it is in order, and processes the transaction inside your IRA.
1. Establish a Midland account by completing our application online or by hand, which you can mail, email, or fax to our office.
Fund your IRA in 3 ways:
- IRA to IRA transfer
- 401k or other qualified plan via rollover
- Annual contribution
2. Establish a trading account with an introducing broker
- Individual capacity
- The trading account is titled in the name of and owned by your IRA
- If you are not trading this account yourself, you must grant a Commodity Trading Advisor (CTA) permission to trade in the account on your behalf
3. Midland Trust receives your completed trading agreement with your desired trading company and CTA agreement (if you choose to assign a CTA).
- Midland will countersign the trading agreement to build this account within your IRA
- A trading account number is usually created in a few business days
- We can now facilitate your funding through our online portal once click “approve” for us to do so in the portal
- If the investment amount is over $100k, a manual purchase form is required and completed with a phone call, we will also call to verbally confirm your approval to fund the investment into the trading account
- Funds will go out the next business day via wire
Midland is a self-directed retirement plan administrator serving clients across the nation who have the freedom to invest in alternative assets they know and understand. If you’d like to learn more about us, or have questions about setting up futures and forex trading in your IRA, please contact us today!