Midland Trust Company (formerly Midland IRA) Review

Midland Trust Company (Midland IRA) Review 2026: Veteran Self-Directed IRA Custodian with Broad Alt-Asset Support

Last verified: 2026-04-12 | Overall rating: 3.6/5

The 30-Second Verdict

Midland Trust Company has been a self-directed IRA custodian since 1994 and supports nearly every alternative asset class you can hold in a retirement account -- real estate, private equity, crypto, precious metals, and more. The $95 minimum annual fee is competitive, and assigned personal service reps add a human touch. The 2023 acquisition by Equity Trust Company expands resources but introduces transition uncertainty. Remember: Midland is a custodian, not an investment platform. It holds your assets; you pick them.

What Is Midland Trust Company and How Does It Work?

Midland Trust Company is a South Dakota publicly chartered trust company that provides custodial services, recordkeeping, and administration for self-directed IRAs, 401(k)s, and 1031 exchanges. Unlike investment platforms, Midland does not recommend or manage investments. You direct your own IRA into alternative assets -- real estate, private equity, promissory notes, cryptocurrency, precious metals, LLCs, hedge funds, and more -- and Midland handles the custodial paperwork and compliance.

Who Is Midland Trust Company Best For?

Midland is best for self-directed investors who already know what alternative assets they want to hold in a tax-advantaged retirement account and need a custodian to execute those transactions. If you want investment recommendations or managed portfolios, look at platforms like Origin Investments or Fundrise. If you only need a precious metals IRA, specialized dealers may offer lower transaction fees.

Fees

• Minimum annual fee: $95
• Fee structure: Flat-rate annual and sliding-scale options available
• Precious metals transaction fee: $50 per purchase or sale
• Fee reductions: Available (details require direct contact)

On a basic self-directed IRA, the $95 annual fee is competitive with industry peers. Precious metals investors should factor in the $50 per-transaction cost, which adds up with frequent trading. Current flat-rate pricing beyond the minimum is not publicly detailed and requires contacting Midland directly.

Minimum Investment

No specific minimum investment disclosed. Minimums vary by the type of alternative investment held within the account.

Accreditation Requirements

Partial. Basic self-directed IRA services do not require accreditation. Certain private and alternative investments held within the account may require accredited investor status per SEC standards ($200K income or $300K joint, or $1M net worth).

Liquidity -- How Do You Get Your Money Out?

Semi-liquid. The IRA wrapper itself allows standard distributions, but the underlying alternative assets (real estate, private equity) are typically illiquid. Liquidity depends entirely on what you invest in through the self-directed account.

Historical Returns

Not applicable. As a custodian, Midland Trust does not generate returns. Performance depends entirely on the alternative investments selected by the account holder.

Past performance of any investment held in a self-directed IRA is not indicative of future results.

Regulatory and Legal Structure

Midland Trust Company is a South Dakota publicly chartered trust company. It is not a registered investment advisor and does not provide investment advice. The company holds a CRD number (3194108) and is accredited with the Better Business Bureau. Midland was acquired by Equity Trust Company in August 2023.

Pros

• 30+ years of specialized experience in alternative asset self-directed IRAs
• Comprehensive investment options: real estate, private equity, crypto, precious metals, and more
• Low $95 annual fee minimum with flat-rate options
• 24/7 mobile app access for account management
• Personal service representative assigned to each client
• Backed by Equity Trust Company post-acquisition, expanding resources

Cons

• Precious metals transaction fees of $50 per trade are above average
• Limited transparency on current flat-rate pricing beyond the $95 minimum
• Does not provide investment recommendations -- you must direct your own investments
• Alternative assets held in account are inherently illiquid
• Post-acquisition integration with Equity Trust may change service model
• No published historical returns or performance metrics (custodian model)

The Bottom Line

Midland Trust Company is a reliable, experienced custodian for investors who want to hold alternative assets inside a tax-advantaged retirement account. The breadth of supported asset classes is excellent, and the $95 minimum annual fee undercuts many competitors.

The key limitation is that Midland is purely a custodian. It will not help you find deals, evaluate investments, or manage your portfolio. You need to bring your own investment thesis. The 2023 Equity Trust acquisition could improve or disrupt the service experience -- it is still too early to tell.

For experienced self-directed IRA investors who value low fees and broad asset support, Midland remains a strong custodial option.

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ModernAlts may receive compensation if you open an account with platforms reviewed on this site. This does not influence our editorial ratings or analysis. Alternative investments involve risk, including possible loss of principal. Past performance is not indicative of future results. Nothing on this site constitutes investment, legal, or tax advice.