What is Broad Financial Bitcoin IRA? What does it have to offer? Is it one that you can trust or not? Well, let’s find out about all of that in today’s review of this company. Here is the structure that the review will take:
- What is Broad Financial IRA?
- What is a Bitcoin IRA?
- What can you expect from a Broad Financial Bitcoin IRA?
- How to open a Broad Financial Bitcoin IRA
- The fees and charges
- Is Broad Financial Genuine or is it A Scam?
- Pros and Cons
Name of the company: Broad Financial IRA
Official Website URL:
Overall Rating: (4.3 / 5)
Are these alternatives better than Broad Financial Bitcoin IRA? (Our Top-5 Bitcoin IRA Companies)
What is Broad Financial IRA?
Broad Financial IRA exists as an investments and financial services company that has its headquarters in Montvale, New Jersey. The company came to birth back in 2004.
At the time it was being founded, Broad Financial IRA was a private real estate investment company. Over time, however, the company has increased the number of its offerings to include:
- Self-directed gold IRAs
- Simplified Employee Pensions IRAs(SEP-IRA)
- Roth IRAs
- Real Estate IRAs
- Bitcoin IRAs
The company works hand in hand with its well-known custodian, known as Madison Trust Company. Madison Trust IRA sees to it that all of the clients’ investments are secure and that Broad Financial is doing its due diligence to serve the customers’ interests.
What is a Bitcoin IRA?
If you are new to the cryptocurrency space, you might not be quite aware of what a Bitcoin IRA is, and its general characteristics.
Cryptocurrencies are digital currencies that are not backed by the government or controlled by any individual organization. A significant number of investors who have had the chance to invest in cryptos have come out saying that these digital assets are good for the diversification of one’s portfolio.
Even since cryptos became a thing, it has been realized that they can weather the fluctuations and eventually give rise to impressive profits over a given period.
This is why cryptocurrency IRAs are gaining traction pretty fast, with many investors purchasing cryptos to include them in their portfolio of assets.
When setting up your Bitcoin IRA with Broad Financial IRA, you will be required to pay an account set up fee, as well as an annual fee so that you can purchase and sell your cryptos at will (all terms and conditions apply).
What can you expect from a Broad Financial Bitcoin IRA?
You can rely on Broad Financial’s services to access and purchase cryptos on various exchange platforms so that you can hold them in a tax-advantaged account.
A tax-advantaged account is one that is either tax-deferred or tax-free.
While Broad Financial specializes in crypto IRAs, they also let investors use the funds in their self-directed IRAs to purchase any crypto. The firm does this by creating and filing an LLC on behalf of its clients. This makes it possible for you to invest with the much-desired ease.
How to open a Broad Financial Bitcoin IRA
If you are interested in opening a self-directed Bitcoin IRA with Broad Financial, you should contact its staff members. They will explain to you what you can expect from the individual account that you open, and also help you with the account opening process.
Here are the steps that you should follow:
- Visit the official website and fill out the one-page application. Broad Financial will also request you to take part in their online quiz that is meant to establish the Bitcoin IRA that you are best suited for.
- Wait for Broad Financial to send you an email. Your account representative is going to send you a couple of forms that you should fill out. He or she will also provide you with information on what you should do next.
- Upon the approval of your application, you will be required to pay the account start-up fees. Broad Financial then proceeds to set up an LLC on your behalf. The LLC is meant to make the handling of your investments easier.
- You shall then connect with Madison Trust Company. This is Broad Financial’s sister organization. Madison Trust will in this case be your custodian. It will play its roles by holding your funds and officiating and facilitating their transfer into your investment account.
- Broad Financial will then send you a binder of the necessary documents to your mail. With these documents, you will be in a position to head to the bank to open a new account for your already-set LLC.
- Madison Trust will finally transfer investment funds to the investment account, and you are good to go.
The fees and charges
Broad Financial is actually popular for having its flat-rate fee structure. This means that no matter the amount of money that you decide to invest, you will only have to pay a flat-rate fee. The start-up fee is under $1295. After that, you will be required to pay a $300 annual fee.
Note that these rates can change at any time.
Is Broad Financial Bitcoin IRA Genuine or is it A Scam?
In my opinion, Broad Financial is a genuine company that is out to help investors grow their wealth by investing in a wide variety of assets. The Bitcoin IRAs that it offers are also legit. It is not hard to tell that this company is out to deliver the best services, as can be seen on consumer trust sites below:
- Trustpilot: (4.8/5)-(the genuine review)
- Better Business Bureau: A+ rating
- Sitejabber – (4.8/5)
Generally, the Broad Financial Bitcoin IRAs are worth trying out, moreso for those who would not have a problem with parting with $1400 as the account setup costs. I think comparing broad financial with some of the best players in this industry would give you a clear picture as to whether you are getting the best deal or not. Have a look at what the alternatives below have to offer, then you can make your decision as to which company will help you achieve your objectives to open an efficient Bitcoin IRA.
Pros and Cons
- Flat-rate fees – can be good for some investors
- Reliable custodian
- The flat-rate fees can also be quite massive for some investors.
Disclaimer: Cryptocurrency investments carry significant risk. You should be very vigilant of anyone who comes to you with the claim that you can make a quick buck with little risk. As is the case with other types of investments, you can easily lose your money. The fact that other investors have reaped an income from crypto investments is not a guarantee that you will also earn profits.
Final Words and Verdict
Overall Rating: (4.3 / 5)
Broad Financial Bitcoin IRA is one that investors who are looking for ways to diversify their investment portfolio can definitely consider. The $1295 account set up fee may be steep for some people, but it is still bearable within reasonable standards. That said, I would encourage you to have a look at what other top-performing companies in this industry have to offer before you can make the final decision on which one you will bank on to help you build more wealth through a safe Bitcoin IRA account.
That will be all for today’s review on what Broad Financial Bitcoin IRA is about. Be sure to check out the recommended alternatives as you narrow down on your options as far as a reliable Bitcoin IRA. Hopefully, you settle on one that will help you achieve your money-making objectives, as you take advantage of the lucrative crypto markets.
I wish you well,
Eric, Investor, and Team Member, Gold Retired!