401 k's at IB

Discussion in 'Interactive Brokers' started by roncer, Jul 19, 2007.

  1. roncer

    roncer

    I am thinking about opening a 401 K account with IB. Can anyone take a minute and comment on the limitations and or restrictions for trading stocks from a 401 K at IB?

    Thanks:confused:
     
  2. TOM134

    TOM134

    roncer,

    1) If you don't mind me saying so, it's not a good idea to trade with 401K $.

    2) However, if you insist, I believe that with such an account you cannot trade on margin.

    I hope this helps.

    Tom
     
  3. Div_Arb

    Div_Arb

    One limitation I foresee is that IB does not offer 401k accounts.

    If you mean you are going to roll-over a 401k to an IRA then IB will suit you well if you are actively trading. If you do not meet some minimum threshold in commissions every month, you get charged an inactivity fee at IB. I forget what this fee is, but defiantely be aware of the fee.

    If you are going to park money in long-term investments, Schwab is a better bet for you, IMO. Or better yet, open up a ScottTrade account, buy your stocks and whatnots, then ACAT over to Schwab. That's what I would do anyways....