The best self-directed IRA custodian depends on what you're investing in. Equity Trust is the largest and most versatile (real estate, metals, crypto, private equity). Entrust Group offers the lowest fees for simple accounts. Kingdom Trust is best for cryptocurrency IRAs. For precious metals specifically, Augusta Precious Metals handles custodian setup and storage as part of their service, making the process significantly easier.
- Setup fees range from $0 to $300 depending on the custodian
- Annual maintenance fees: $75-$400/year across the top custodians
- Equity Trust holds over $39 billion in assets across 350,000+ accounts
- Transaction fees: $25-$250 per transaction depending on asset type
Choosing the wrong custodian is one of the most expensive mistakes self-directed IRA investors make. Some charge hidden transaction fees. Others take weeks to process a real estate closing. And a few don't even support the assets you want to invest in.
We compared the 5 most popular self-directed IRA custodians on the factors that actually matter: fees, supported assets, minimums, processing speed, and customer experience.
Self-Directed IRA Custodian Comparison Table
| Feature | Equity Trust | Millennium Trust | PENSCO | Entrust Group | Kingdom Trust |
|---|---|---|---|---|---|
| Setup Fee | $50 | $100 | $0-$150 | $0 | $0 |
| Annual Fee | $225-$400 | $75-$200 | $150-$275 | $99-$399 | $125-$300 |
| Transaction Fee | $25-$250 | $50-$200 | $35-$200 | $25-$100 | $50-$250 |
| Account Minimum | $500 | $5,000 | $0 | $0 | $0 |
| Real Estate | Yes | Yes | Yes | Yes | Yes |
| Precious Metals | Yes | Yes | Yes | Yes | Yes |
| Cryptocurrency | Yes | No | No | Yes | Yes |
| Private Equity | Yes | Yes | Yes | Yes | Yes |
| Checkbook IRA LLC | Yes | No | Yes | Yes | Yes |
| Best For | All-around versatility | Rollovers & institutional | Real estate investors | Lowest fees for simple accounts | Cryptocurrency IRAs |
* Fees shown are approximate and may vary based on account size, asset type, and specific service plans. Always confirm current pricing directly with the custodian.
Custodian-by-Custodian Breakdown
Equity Trust Company
Founded: 1974 | AUM: $39+ billion | Accounts: 350,000+
Equity Trust is the largest self-directed IRA custodian in the US. They support virtually every alternative asset class: real estate, precious metals, cryptocurrency, private equity, tax liens, promissory notes, and more. Their online platform is the most polished in the industry, and they process transactions faster than most competitors.
Downside: Annual fees are on the higher side ($225-$400), and they charge per-transaction fees that can add up if you're active. Best for investors with $100k+ who need maximum flexibility.
Millennium Trust Company
Founded: 2000 | AUM: $50+ billion | Focus: Institutional rollovers
Millennium Trust handles more 401(k) rollovers than almost any other custodian. They're the default rollover destination for many employer plans. Their self-directed IRA offering is solid for traditional alternatives (real estate, private equity) but lacks cryptocurrency support and checkbook IRA LLC options.
Downside: Less flexible than Equity Trust for alternative assets. Higher minimums ($5,000). Best for straightforward rollovers from employer plans.
PENSCO Trust Company
Founded: 1989 | Focus: Real estate and private equity
PENSCO (now part of Opus Bank/Pacific Premier Trust) has deep expertise in real estate IRA transactions. They understand the complexities of property closings, rental income handling, and expense management within an IRA. If real estate is your primary SDIRA strategy, PENSCO's experience is valuable.
Downside: No cryptocurrency support. Mid-range fees. Best for serious real estate investors who need a custodian that understands property transactions.
The Entrust Group
Founded: 1982 | Focus: Low-cost, broad asset support
Entrust offers some of the lowest fees in the industry, especially for smaller accounts. No setup fee, and annual fees start at $99. They support real estate, precious metals, private equity, and cryptocurrency. Their educational resources are excellent for first-time SDIRA investors.
Downside: Transaction processing can be slower than Equity Trust. Online platform is less sophisticated. Best for cost-conscious investors and SDIRA beginners.
Kingdom Trust
Founded: 2010 | Focus: Cryptocurrency and digital assets
Kingdom Trust is the standout for cryptocurrency IRAs. Their "Choice" platform lets you trade Bitcoin, Ethereum, and other crypto directly within your IRA. They also support traditional alternatives like precious metals and real estate. If crypto is a key part of your strategy, Kingdom Trust is the obvious choice.
Downside: Less established than Equity Trust. Higher transaction fees for some asset types. Best for investors who want crypto exposure inside their IRA.
For Precious Metals Specifically
Skip the Custodian Research
Augusta Precious Metals sets up your custodian account, handles all paperwork, and arranges IRS-approved storage. One call, everything handled.
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What to Look for in a Self-Directed IRA Custodian
Asset type support
Make sure the custodian supports every asset type you want to invest in — now and in the future. Switching custodians is a hassle.
Fee transparency
Get the full fee schedule in writing before you open an account. Ask about setup fees, annual fees, transaction fees, wire fees, and account closure fees.
Processing speed
For real estate transactions, a slow custodian can kill a deal. Ask how long it takes to fund a purchase and process distributions.
Customer support quality
Self-directed IRAs are complex. You want a custodian with knowledgeable staff who can answer questions quickly — not a call center reading scripts.
Checkbook IRA LLC support
If you want checkbook control for faster transactions, make sure the custodian supports IRA LLC structures. Not all of them do.
Red Flags to Watch For
Self-Directed IRA Custodian FAQs
What is a self-directed IRA custodian?
A self-directed IRA custodian is an IRS-approved financial institution that holds and administers your self-directed IRA. Unlike regular IRA custodians (like Fidelity or Schwab), self-directed custodians allow you to invest in alternative assets such as real estate, precious metals, private equity, cryptocurrency, and more. They handle paperwork, reporting, and compliance but do not provide investment advice.
How much do custodians charge?
Self-directed IRA custodians typically charge: setup fees ($50-$300), annual maintenance fees ($75-$400), transaction fees ($25-$250 per transaction), and asset-specific fees (like precious metals storage at $100-$300/year). Total annual costs usually range from $200-$1,000 depending on account size, asset types, and transaction volume.
What's the difference between a custodian and a trustee?
A custodian holds and safeguards IRA assets and handles administrative duties, while a trustee has broader authority to manage trust assets. For most self-directed IRA investors, the terms are used interchangeably. The key distinction: a trustee may have discretionary authority over investments, while a custodian follows your directions exactly.
Can I switch custodians?
Yes. You can transfer your self-directed IRA to a different custodian through a trustee-to-trustee transfer, which is tax-free and penalty-free. The process typically takes 2-4 weeks. Some custodians charge a transfer-out fee ($50-$150). Make sure the new custodian supports all the asset types you currently hold before initiating.
Do I need a custodian for a self-directed IRA?
Yes. The IRS requires that all IRAs (including self-directed) be held by an IRS-approved custodian or trustee. You cannot hold IRA assets yourself (with the exception of a checkbook-control IRA LLC, where the LLC holds the assets but the IRA still has a custodian). Without a custodian, your account loses all tax advantages.
Want the Easiest Path to a Gold IRA?
Augusta handles custodian selection, account setup, metal purchasing, and storage. You make one call and they handle the rest.
- A+ BBB Rating - Zero Complaints
- 4.9/5 Average Rating
- Dedicated Agent for Life