Best Self-Directed IRA Custodians (Not Gold Dealers)

A conventional brokerage IRA is usually enough for stocks, bonds, mutual funds, and similar public-market investment options. It is the wrong financial institution if you want alternative investments such as real estate, private equity, or physical precious metals.

This page compares five self-directed IRA providers whose official fee schedules and investment options I opened on November 10, 2026 (America/New_York): Equity Trust, STRATA Trust, The Entrust Group, IRA Financial, and Directed IRA. It is a companion to our best IRA accounts pillar, not a substitute for our self-directed IRA explainer.

It is not a gold-dealer review. If you are buying coins or bars, read gold IRA custodian vs dealer; I have completed a gold IRA rollover.

A cloth-bound ledger, two brass keys, a blank sheet of paper, and a coin on a wooden desk, suggesting a custodian that titles alternative assets.
A self-directed IRA custodian titles alternative assets; it does not endorse the deal.

How we compared self-directed IRA providers

The universe is each self-directed IRA company above. I did not include gold dealers, banks, or a credit union.

The criteria are the published setup fee, annual fee, termination fee, and transaction fees; the fee structure (flat, value-tiered, or per-asset), including metals-only versus flex; stated investment options such as real estate, private equity, and precious metals; listed account types; and the firm’s custodial role.

I am not scoring these firms. The best self-directed IRA fit depends on the asset, the account size, and whether you want checkbook control.

What a directed custodian does

A self-directed IRA (SDIRA) is still a retirement account. Federal tax law requires a bank or an IRS-approved nonbank custodian or trustee to hold the account.

STRATA’s fee page states that it administers, reports, and processes transactions, but it does “not provide investment advice or endorse investments or sponsors.” That is the directed-custodian model.

The SDIRA custodian administers the retirement account and processes the transactions you direct. Account holders do their own due diligence. Self-directed IRA promoters sometimes blur that line. The SEC, FINRA, NASAA, and the CFTC have warned that titling an asset is not a stamp of quality.

Can you be the custodian of your own self-directed IRA?

No. You cannot be the custodian of your own self-directed IRA. Checkbook control still requires an IRS-approved custodian — one of the qualified custodians the tax rules require. A limited liability company does not replace that financial institution.

IRS rules that still apply

Self-directed IRA rules are still IRA rules. Contribution limits, withdrawal rules, and the choice of a traditional IRA, Roth IRA, or SEP IRA do not loosen because the holdings are alternative assets.

See our IRA contribution limits and types of IRA accounts pages. The tax-advantaged status of the account depends on those IRS rules. Use the compliance section of our self-directed IRA explainer for the longer walkthrough.

Prohibited transactions and the disqualified person

Prohibited transactions include dealing with a disqualified person, self-dealing, and taking an indirect personal benefit from an IRA asset. A disqualified person includes the account owner, certain family members, and fiduciaries. Collectibles such as art are barred, with a narrow metals exception in our IRS-approved gold and silver guide.

A rental property is a common example: the retirement account can own real estate, but you generally cannot stay in it or use retirement funds for a personal expense.

A locked metal box, a blank folded deed, a house key set apart from the box, and a plain red wax seal on a wooden desk, suggesting prohibited transactions.
Prohibited transactions and a disqualified person can put the tax-advantaged status at risk.

Checkbook control

Checkbook control is a structure, not a way around IRS rules. In a typical checkbook-control arrangement, the self-directed IRA owns a limited liability company, and the account owner writes checks from the LLC’s bank account to close a deal faster than a custodian-by-custodian funding method.

That speed is the appeal for real estate, and also the risk. IRA Financial’s fee page prices several checkbook structures with a $999 or higher setup fee plus the $495 annual fee, and a $299 “IRA Compliance Shield” beginning in year 2 on listed checkbook accounts.

Our self-directed IRA explainer already covers the checkbook IRA concept. A standalone checkbook-control article is not live yet.

How checkbook control is usually structured

The investment process still starts with a self-directed IRA (SDIRA) at a custodian. The custodian titles the LLC interest as an IRA asset.

Checkbook control risks

Checkbook control is easy to misuse: paying yourself, mixing bills, or buying a property you intend to use. A tax attorney is a better resource than a marketing deck. Account holders who do not need checkbook control do not have to buy it.

A blank unbranded checkbook, a navy envelope, a rubber stamp with a blank pad, and a fountain pen on a wooden desk, suggesting checkbook control.
Checkbook control still requires a qualified custodian and does not relax IRS rules.

Typical fees for a self-directed IRA custodian

There is no single typical bill for a self-directed IRA. The ranges below come from the schedules I opened.

A setup fee, when charged, was $0 at IRA Financial, $50 online at Equity Trust and Directed IRA, $50 at The Entrust Group, and waived for electronic setup at STRATA ($50 otherwise). Annual fee designs ranged from metals-only $125–$150 at Equity Trust or STRATA, to Entrust’s $219–$329 base, to $395 at STRATA Flex, to $495 at IRA Financial and Directed IRA, to Equity Trust Universal IRA tiers from $350 under $50,000 of account value to $2,500 at $1 million or more. Full termination fees were $200 at Directed IRA and $250 at the other four firms.

Fee structure types

The pricing model matters more than a headline annual fee.

  • Flat annual fee: IRA Financial is $0 setup and $495 a year, with unlimited asset purchases included. Directed IRA’s $495 annual fee includes up to three alternative assets, then $100 per additional alternative asset, with exclusions noted below.
  • Per-asset or mixed: STRATA Flex adds $50 per private asset (max $500) and $150 per real estate property (max $1,500). Entrust uses a single-asset versus two or more assets base, then 0.17% of asset value over $50,000, excluding cash, capped at $2,299.
  • Value-tiered: Equity Trust’s Universal IRA annual fee steps up with account value.

Metals-only schedules are cheaper at Equity Trust and STRATA than those firms’ flex or universal schedules. Do not price a self-directed real-estate IRA off a metals-only flyer.

Entrust charges $175 to buy, sell, or exchange real estate, or $250 if a non-recourse loan is involved, and $105 for most other alternative assets. Directed IRA charges $50 to process most alternative assets and $150 for directly owned real estate. Fees change, so account holders should confirm the current official self-directed IRA schedule before opening.

Three stacked wooden blocks of different heights, a calculator with a blank screen, and a blank sheet of paper on a wooden desk, suggesting a tiered fee structure.
The fee structure on a self-directed IRA depends on the asset mix and the schedule you actually use.

Equity Trust

Equity Trust offers a Universal IRA that can hold alternative investments as well as traditional investments, with trades in stocks and mutual funds through a linked ETC Brokerage Services account. Investment options include real estate, private equity, stocks, mutual funds, and private lending.

Equity Trust Universal IRA fees

The official Universal IRA Fee Schedule, FS-0001-01, Rev. 102326 (October 23, 2026), lists a $75 paper setup fee and these annual maintenance fees, which are not prorated: $350 under $50,000; $500 from $50,000–$99,999; $750 from $100,000–$249,999; $1,000 from $250,000–$499,999; $1,500 from $500,000–$749,999; $2,000 from $750,000–$999,999; and $2,500 at $1,000,000+.

Included in that annual fee are alternative-asset buys and sells, 50 commission-free trades per year, and digital-asset platform access. Options carry a $1.50 per-contract fee. Storage is $160 segregated or $110 non-segregated.

Equity Trust precious metals schedule

A separate Precious Metals (Only) schedule, FS-0004-05, Rev. 081726, lists a $125 annual fee for a metals-only account, plus the same storage fees. See gold IRA storage.

STRATA Trust

STRATA publishes two self-directed IRA retail tiers. The Precious Metals Tier adds storage of $115 commingled or $175 segregated for IRS-approved gold, silver, platinum, and palladium coins and bullion (depository exceptions may apply). The Flex Tier can include real estate and private equity plus the per-asset and per-property charges above. Annual fees are not prorated. Outgoing wires are $35.

The Entrust Group

The Entrust Group’s live fees page sets annual recordkeeping at $219 for a single asset and $329 for two or more assets when total asset value, excluding cash, is under $50,000.

Above $50,000, Entrust adds 0.17% of the asset value over $50,000, with a $2,299 cap. Example: two assets totaling $150,000 plus $12,000 cash would be $329 plus $170, or $499 a year.

I will not invent an Entrust metals ticket charge; depository storage may apply. Wires are $30.

IRA Financial

IRA Financial’s fee page, effective January 1, 2026, prices a standard self-directed IRA with unlimited asset purchases in its $495 annual fee. Outgoing wires are $25. A $500 minimum cash balance applies.

That $495 line is not a guarantee of IRS audit protection, and it is not the price of IRA Financial’s checkbook products, which have separate setup fees.

Directed IRA

Directed IRA is the consumer brand of Directed Trust Company. The official fee schedule PDF, opened November 10, 2026, applies to Traditional, Roth, SEP, HSA, and Coverdell accounts, not the firm’s solo 401(k) or Crypto IRA PDFs.

The annual fee includes up to three assets. An annual asset-holding fee of $100 per asset applies if the retirement account holds four or more alternative assets, excluding cash, publicly traded securities, a Tradestation brokerage account, and precious metals.

The marketing line that fees do not increase with account value is incomplete. Footnote 2 of the same PDF sets large-account annual fees of $795 from $2 million to $4,999,999, $1,595 from $5 million to $9,999,999, and $1,595 plus 0.03% on amounts above $10 million.

Directed IRA’s pricing page lists customer service hours as 8 a.m. to 5 p.m. Mountain time.

A small unbranded wooden model house, a blank deed-like sheet, and a stack of manila folders on a wooden desk, suggesting real estate held in a self-directed IRA.
Real estate is the alternative asset that most often adds transaction fees.

Alternative investments, Roth IRA, and account types

A self-directed account can usually be opened as a traditional IRA or a Roth IRA, and several firms also list a SEP IRA or HSA. The account type changes whether growth can later be tax free, including tax free Roth IRA growth, not the need for that custodian role.

Precious metals in a self-directed account

Precious metals belong in this comparison only as a custodial product, not as a dealer sale. Equity Trust and STRATA both add depository storage on their metals-only tiers. For the dealer-versus-custodian split, fees, and eligibility, use custodian vs dealer, gold IRA fees, and IRS-approved gold and silver.

A small unmarked gold-colored bar, several unbranded coins, and a plain metal lockbox on a wooden desk, suggesting precious metals stored apart from a dealer invoice.
Precious metals belong in a metals or flex schedule, not in a dealer invoice alone.

Real estate, private equity, and other alternative assets

Real estate assets usually carry extra processing charges. Real estate, private equity, private notes, and private companies are the core asset classes these custodians advertise, and some account holders also look at tax liens — confirm those investment options in the custodial agreement.

Real estate assets need a way to pay insurance and taxes from the retirement account. Portfolio diversification is not a reason to skip due diligence. Until a real-estate IRA guide is live, use this comparison plus IRA investment options.

Who each self-directed IRA company may fit

These are use-case fits among each self-directed IRA company I opened, not awards, and not a list of the best self-directed IRA for every reader.

  • Equity Trust may fit a Universal IRA that mixes traditional investments and alternatives.
  • STRATA may fit a metals-only investor, or a Flex investor who wants explicit per-asset and per-property add-ons.
  • The Entrust Group may fit a single-asset or multi-asset account where the $2,299 cap is the clearer math.
  • IRA Financial may fit a $0 setup fee, a flat $495 annual fee, and unlimited asset purchases, if you keep the $500 cash minimum.
  • Directed IRA may fit a $495 annual fee covering three holdings and a $200 termination fee, if you understand the large-account rates above $2 million.

If you only need public-market funds, use the best IRA accounts comparison. A self-directed IRA company is usually more expensive for that job.

Audit protection — what it is and is not

“Audit protection” is one of the most abused phrases here. Some self-directed IRA providers and third parties market IRS audit protection, or an audit-protection letter or package, as if it were a tax shield.

A directed custodian’s job is administration and reporting, not IRS audit protection. If you are offered audit protection, read the contract. IRA Financial’s “IRA Compliance Shield” is a priced add-on beginning in year 2 on listed checkbook accounts; I am not treating it as guaranteed IRS audit protection.

No package of audit protection can cure a disallowed deal after the fact.

Retirement investments: due diligence for retirement investors

Do your own due diligence, and do not outsource it to the salesperson. Confirm that the institution is a bank or an IRS-approved non-bank custodian, and read the fee structure, including the setup fee, annual fee, and transaction fees, plus the investment options and account statements.

Some arrangements also involve a third party administrator. That role is not a wealth management relationship; financial advisors you hire still cannot fix a prohibited deal. In-service rollovers, when a plan allows them, are a funding method — not a loophole. See our 401(k) to IRA rollover guide. Then begin investing only after the retirement account is funded.

Retirement investments in alternative assets can be illiquid. People who do not want that burden should stay with a brokerage IRA’s public-market investment options. The aim is a more durable retirement portfolio and financial future, not a faster title.

Self-directed IRA custodian FAQ

Can I be the custodian of my own self-directed IRA?

No. An IRS-approved custodian is required. Checkbook control does not change that.

What are typical fees, and who has the lowest fees?

It depends on the asset mix and the account value. Compare the setup fee and annual fee on the schedule that matches the investment options you will hold; no self-directed IRA company is lowest in every case.

What is the loophole for self-directed IRAs?

There is not a legal loophole. A self-directed IRA (SDIRA) expands the menu of investment opportunities; those investment opportunities do not expand what the IRS allows. Prohibited transactions and disqualified-person rules still apply. The best self-directed IRA decision starts with those limits.

How this page relates to brokerage IRAs and gold dealers

Use best IRA accounts for a brokerage IRA, this page for a self-directed IRA custodian, gold IRA custodian vs dealer when a dealer is in the picture, and the self-directed IRA explainer for the IRS framework.

The bottom line

The best self-directed IRA for you is the one whose official schedule and investment options match the investment you intend to hold — after your own due diligence. Equity Trust, STRATA, The Entrust Group, IRA Financial, and Directed IRA publish different official schedules. None replaces IRS rules, and none should be confused with a gold dealer or a $0-commission brokerage IRA.

Written by Tim Schmidt and reviewed for tax and account accuracy by Sean Webster, CPA. Last reviewed November 10, 2026 (America/New_York). This guide is for general education. It is not tax, legal, or investment advice, and it is not a recommendation to buy or sell any asset or to open any account. IRAInvesting.com is not a custodian, dealer, broker-dealer, or investment adviser. Before you act, talk with a licensed tax professional, tax attorney, or adviser who can review your situation. Alternative assets can be illiquid and volatile, and a directed custodian does not vet or endorse your investment. Investing involves risk, including the possible loss of principal. Past performance does not guarantee future results.