New Direction Forex Broker

New DirectionReview Summary Founded2002 Registered Country/RegionUnited States RegulationNo regulation Market InstrumentsReal Estate, Private Equity, Private Lending, Checkbook IRA/LLC, Precious Metals Demo Account/ Leverage/ Spread/ Trading PlatformNDTCO client portal Minimum Deposit/ Customer SupportContact form Fax: 303.665.5962 Phone: 303.546.7930 Social Media: Facebook, Twitter, Instagram, LinkedIn, YouTube Address: 1070 W Century Dr. Louisville, CO 80027New Direction Information Founded in 2002, New Direction is a U.S.-based company focused on providing self-directed investment accounts and a wide range of financial products, including real estate, private equity, private lending, individual retirement accounts (IRAs)/ limited liability companies (LLCs) for checking accounts, precious metals, and other investment options. The platform supports a variety of account types, including Traditional Individual Retirement Accounts (IRAs), Roth IRAs, Simple IRAs, Health Savings Accounts (HSAs), Individual 401 (k), Inherited IRAs, Simplified Employee Retirement Accounts (SEP IRAs), and Coverdell Education Savings Accounts (ESAs) to meet the financial needs of different customers. However, New Direction is not currently regulated by any regulatory body, which presents certain risks in terms of transparency and user protection.Pros & Cons ProsCons A variety of investment choicesNo regulation Clear fee structure Various account types Multiple contact channelsIs New Direction Legit? New Direction was registered in 2002 and is unregulated. Traders are required to do their due diligence and use their funds carefully before trading.What Can I Trade on New Direction? New Direction offers a range of self-directed investment options, including Real Estate, Private Equity, Private Lending, Checkbook IRA/LLC, Precious Metals, and Other Investments, allowing investors to diversify their portfolios with tax-advantaged retirement funds. Tradable Instruments Supported Real Estate✔ Private Equity✔ Private Lending✔ Checkbook IRA/LLC✔ Precious Metals✔Account Types New Direction offers a variety of self-directed account types, including Traditional IRA, Roth IRA, Simple IRA, Health Savings Account (HSA), Solo 401(k), Inherited IRA, SEP IRA, and Coverdell Education Savings Account (ESA), catering to diverse financial needs such as retirement savings, healthcare expenses, and education funding. Account TypeDescription Traditional IRAOur benchmark IRA can meet the needs of just about any investor. If you have earned income, you can contribute to a Traditional IRA. Roth IRAA Roth IRA affords a unique opportunity to enjoy tax-free distributions while investing in the alternative assets of your choosing. Simple IRAA SIMPLE IRA is an employer plan in which the employee can make tax-deferred contributions and the employer can add a percentage match. Health Savings Account (HSA)A Health Savings Account (HSA) provides the unique opportunity to enjoy tax-deferred contributions and tax-free distributions, all while saving up for future medical expenses. Solo 401(k)A Solo 401(k) is similar to an employer-sponsored 401(k), except the account holder must be self-employed with no other employees and acts as both the employee and employer. Inherited IRAAlso known as a beneficiary IRA, an Inherited IRA is created for beneficiaries when an individual inherits an IRA or retirement plan. SEP IRAA SEP IRA is an employer-sponsored plan with higher contribution limits. They can be useful investment tools for self-employed individuals with few or no other employees. Coverdell Education Savings Account (ESA)A Coverdell Education Savings Account (ESA) enables you to make tax-advantaged investments to cover future educational expenses of the beneficiary.Fees New Direction charges various fees, including application fees, outgoing movement of funds fees, transfer out and distribution fees, miscellaneous fees, and investment-specific fees. Below is some detailed fee information: CategoryItemFee Application FeeNon-refundable Account Application Fee$30 Outgoing Movement of FundsACH$0 Check$20 Cashier or Official Bank Check$35 Wire$35 International Wire$35 Overnight Mail$50 Returned Item, Stop Payment Request, or Void Check$50 Transfers Out & DistributionsIn-Kind Asset Re-Registration$75 Transfer Out and Distribution$150 (plus applicable movement of funds fees) Required Minimum Distributions (RMDs)Only charged applicable movement of funds fees and re-registration fees Miscellaneous FeesSolo 401(k) Plan Adoption Rental$390/year Roth Conversion$95 Paper Statements$30 Depository Storage FeePass-through (no fixed fee) eStatementsFree ($0) Special Services$150 Online Bill PayFree ($0) Late Fee$40/month Investment-Specific FeesAnnual Administration FeesProcessing Fees Real EstateReal Estate Assets$390 per assetPurchase, Sale, or Exchange$285 Mortgage on Real Estate$275 per assetDebt Leveraged$345 Private EquityPrivate Equity Assets$390 per assetPurchase, Sale, or Exchange$130 Private LendingPrivate Lending Assets$390 per assetPurchase, Sale, or Exchange$130 Checkbook IRACheckbook IRA Assets$390 per assetPurchase, Sale, or Exchange$130 Other InvestmentsOther Investments Assets$390 per assetPurchase, Sale, or Exchange$130 Precious MetalsPrecious Metals$220 flat ratePurchase, Sale, or Exchange$130 Online Trading$185 flat rate Publicly Traded SecuritiesAnnual Fee$135 flat rateMutual Fund Trade Fee$50/trade Trade Fee (All Other Public Equity)$50 Transfer Agent Commission (1-150 shares)$2.50 Transfer Agent Commission (151+ shares)$0.03/share with a $2.50 minimum and $150 maximumTrading Platform New Direction supports trading through the NDTCO client portal. Trading PlatformSupported Available Devices Suitable for NDTCO client portal✔Desktop, Mobile, Web/